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Originally Posted by sterlingice
Yesterday, I read wording to the effect of "the economy is already dead but we just don't know it yet".
There's this idea that when we open things back up, the economy will roar back to life. But so many people are not going to be comfortable doing things until there is a vaccine. And few businesses can survive scant business for 2+ years. Similarly, many customers and businesses have already changed their habits permanently. And many jobs lost are not coming back with another jobless recovery - probably not all 30m or whatever - but a large enough chunk of those to matter.
I know I'm pretty worried that wording is accurate.
SI
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It's 2 weeks later and I don't feel much different: "the economy is already dead but we just don't know it yet".
COVID-19 Survey Finds Half Of U.S. Homes Lost Work Income : Coronavirus Live Updates : NPR
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Since March 13, 47% of adults say they — or another adult in their home — have lost employment income, while 39% say they're expecting their households to earn less from work over the next four weeks.
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Half? HALF. HALF!!! of all households have lost income in the last 2 months?!? There's no way this hasn't had a massive impact on the economy that we have yet to see even half of.
SI