4 ms·
I'm not suggesting that this financial crisis doesn't count or is overblown. It is real, and it is happening. I agree that airlines and movie theaters are worth
by sxg 7y ago
I'm not suggesting that this financial crisis doesn't count or is overblown. It is real, and it is happening. I agree that airlines and movie theaters are worth less today than they were a few weeks ago.
What I'm saying is that this financial crisis has a clear, identifiable cause: covid-19. When covid-19 blows over (which it will in a few months time), the market will recover. Without covid-19, travel bans will be lifted and people will fly again. There's no reason to believe people are done with airlines forever. Same with movie theaters and the restaurant industry.
My argument is that the underlying primary cause of the financial crisis matters because it determines the path to recovery. I fully expect covid-19 to disappear in a few months (as it has in China and South Korea), and I fully expect the market to recover in the months afterward.