Thought experiment: If all governments mandated six weeks of planned, universal vacation each year at the same time, what impact would it have on global GDP? Answer: Not that much.
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So if you are trying to understand what we are dealing with here, I’d put it somewhere between an unplanned vacation for the economy and a micro-recession. More like a slap in the face than a broken leg.
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The next few weeks will be rough. But no one will go hungry. We’ll all be smarter, and civilization will be stronger. You will forever be proud of what happened in 2020.
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I’m loading up on stocks. Big names that took big hits. Recovery will be sweet for my IRA.
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That's what I'm thinking... this is more like the post 9/11 dip, caused by an external event. Recovery may not be that quick, but it will be quicker than 2008. Of course, not having Obama as president will speed up any recovery.
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I so hope you are right...
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When the economy roars back I wonder what all those people that are trying to lay the economic downturn at Trump's feet will say.
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This is delusional. Things are not going to just pop right back. Our company already had a plan in place for next 4 months and immediate rehiring is not going to happen.
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Accept the strain that will be put on debt service could cause a collapse of the world wide banking system which would cause a depression. I recommend giving this a look. It explains things and is entertaining.https://m.youtube.com/watch?v=dRpIsoRIGRw …
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That’s what I’m saying Scott! The only thing broken is the work ethic of our younger generation. Just the other day my grandson told me he wasn’t enlisting in the draft because “he’s only 16” like that would’ve stopped my husband back in the day.
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I want to believe you are right, Scott. Thanks for these words of hope.
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