Eeyup. Things are bad folks. Deal with it.
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To what extent does the average person fail to realise how bad things can get? I guess those who read books about the Hobbesian state of life in 14th century France then are more aware than most :P How much does this collective ignorance harm societal decision making?
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I'm not going to say that your worst case isn't possible, because it is. But there is also a lot of resiliency because we are getting better at managing and treating the virus, and the EU (especially with JPN, SK, CAN, AUS) is a strong "second power".
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I would say the most likely outcome is a "lost decade" of high unemployment, low growth, declining standards and unrest.
End of conversation
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Sounds about right, 2020 seems to be the year history speeds up: compressing what usually takes 10 years of incremental tectonic shifts and clashes into a single year—resulting in a disturbing sense of collective amnesia and hysteria.
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