I'm thinking the economy will recover fairly quickly. Unlike recessions and depression of the past, that the economy itself faltered and crashed. With this being a "shutdown" , I believe it will recover much quicker. Casualties YES, but the recovery rate (I hope) will be measured in months, not years. I'm not an economist by any means. Yes it may be a little optimistic, but that's where I'm placing my faith at this time. My 401k has not suffered bad at all, and I think there is faith the markets will recover. They were due for a correction anyways, so if these hits fulfill that, it hopefully won't be terrible
Some of this is quite true. Nicely said.
There is a lot of cash accumulating with people not spending.
We will get through this eventually. Nobody really knows what it will look like after we start getting the "new normal". It is dang expensive right now. It is so painful watching small businesses being put on hold. Those are bread and butter jobs that belong to people we live with every day. We already know that many are not going to make it through this fight.
The unknowns about the virus are the biggest factors right now. It still has to be determined how we can act normal and control the spread. Right now, the only method is stopping people from interacting.(social distancing) We can't keep on that path.
Who knows, maybe it will be determined that we are better off just letting it spread and take the losses. Nobody wants to be the person making that call. It doesn't seem very likely.
I'm pretty sure they will go to tracking instead. I personally don't like that direction. People seem fine with more and more tracking in their daily lives. Adding another level wouldn't create as much mental conflict for those already used to the practice. It is a dangerous path to go in that direction. There is no turning back.
I am actually for the practice of slowing down the spread by people being responsible about how we interact. If we can manage it ourselves, we don't need someone else to mandate the rules of interaction.
How we deal with this short term has a lot to do with how it is handled in the future. A slow spread that doesn't overwhelm the systems would give us a close shot at normal. It just takes time.
It is here and it is a reality we are dealt. There is no fast solution. We will have a solution with time. Right now we are struggling to get the testing resources up to speed. Growing live cultures for vaccine takes time after it is developed.
What do we do now? Support those in the fight. Slow the spread so they can do their job.
Get ready to support the small businesses we love. They will be damn glad to see us when the light turns green. I'll be damn glad to see them.
