This is my take on the economic effects of covid19. Why is it wrong? Let's tear this thing apart.pic.twitter.com/GEgE808jU0
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“$1000 cruise replaced with $10 Netflix” First of all, what cruise only costs a grand?
Second, this isn’t right. Consumption will change drastically in the short-term, but people will adjust by substituting. If there was one hole I’d poke in this mind map, it’s that.
Can you elaborate? What are some examples? What can you buy at home instead of a cruise, vacation, or bottle service at a club?
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Just more domestic travel, more premium product purchases, that sort of thing. People will find ways to plug the spending gap if they’re doused in govt cash. It won’t be as smooth an allocation but not downgrade to Netflix. Wealthy people ain’t doing that for more than 2 months.
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Also entrepreneurs will move in, you’ll see pop up retreats and the like. I’m not sure, but if there is cash out there, it’ll get exchanged for something.
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