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At the moment much of the push to reopen the economy is coming from the protected wealthy who merely want their net worth back. The truly economically afflicted class hasn’t even activated yet. When they do, it will get actually ugly.
This can’t be avoided. For completely arbitrary reasons, no other class can make the sacrifice. They have to be the ones to front the sacrificial wealth here. The best that can be done is to try and socialize their costs 100% later. Easier said than done.
This is the first battle: restaurants fighting insurance companies over whether shutdowns are covered by business interruption insurance. I suspect this will go to court and be decided in favor of the insurance companies. They have better lawyers.https://chicago.eater.com/2020/4/15/21221492/maillard-tavern-business-interruption-insurance-industry-covid-19-losses …
Also, I think we were in a major restaurant bubble for thr past decade or so. Was a key ingredient in the gentrification of 2nd-rate cities, and 1st-3rd rate towns. Was invevitably going to pop.
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