James Daulton
Footballguy
Trying to keep this apolitical. Obviously the near term impact of the virus are devastating to our country in terms of GDP growth, unemployment, and increase to the debt. These short term pain points are necessary to effectively combat the virus. I'm more concerned about the medium term world wide economic impact, the next 1 - 5 years.
Even if the country and world were opened tomorrow, it's not like the US economy would simply start churning like it was pre-virus. Businesses have closed, worldwide demand is down, and I think consumers are feeling scared and cautious. I'll bet we see savings increase dramatically over the next year which is good for families but bad for our economy. Companies that have been forced to lay off or furlough will also be reluctant to add all the workers back without a clear indication that the demand is there.
I think we're in for a couple of years of pain similar to the great recession. With an equally slow and fitful recovery. Hopefully I'm wrong and we do bounce right back.
Even if the country and world were opened tomorrow, it's not like the US economy would simply start churning like it was pre-virus. Businesses have closed, worldwide demand is down, and I think consumers are feeling scared and cautious. I'll bet we see savings increase dramatically over the next year which is good for families but bad for our economy. Companies that have been forced to lay off or furlough will also be reluctant to add all the workers back without a clear indication that the demand is there.
I think we're in for a couple of years of pain similar to the great recession. With an equally slow and fitful recovery. Hopefully I'm wrong and we do bounce right back.
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