Small business owners whose lives have been permanently upended are going to be a whole new political faction around the world. Doctors and nurses are at least getting tagged heroes and will likely still have jobs even if hospitals end up bankrupt. But this group will be...angry.https://twitter.com/BW/status/1251179665735266305 …
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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 …
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We could be making a bigger effort to save restaurants right now. We CAN print enough money- if the entire $2T has gone to SMBs (and maybe a specific program for restaurants) that would have been a great start. Obv $350B across all SMBs was never going to be anywhere near enough.
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I think your prediction is correct though, unfortunately.
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