1) Very hard to say. As others have commented, we have not seen anything of this nature before, where governments have essentially made it illegal for perhaps ~

1) Very hard to say. As others have commented, we have not seen anything of this nature before, where governments have essentially made it illegal for perhaps ~40% of the workforce to work with no end in sight. 2) One thing that keeps occurring to me over the last few weeks are the parallels to war. It seems like people are always obsessed with "fighting the last war" and when usually the current war is really nothing like the last war. The truth is, the current situation is not really comparable to 2008 due to its causes and in my mind the severity and length of recovery will highly depend on how long it continues. At least in the US, governments seem to be stringing the country along with "just a little longer" promises, but as the virus continues to explode despite unprecedented restrictions it seems increasingly unlikely that we're going to see a return to normal any time in 2020. Businesses and individuals who could have easily survived a month of shutdown are going to be unable to survive for 6-9 months of shutdown and things are going to start getting very chaotic. 3) Weird. Some sectors of the economy are going redline as demand surges, but others are going to flatline. 4) They'll print money and pray that we can pull out of the dive. This is going to be much easier for some countries (US) than others (Euro zone). It will be very interesting to see how quickly politicians are willing to acknowledge that they're not facing a short-term issue, but rather a long term issue with a ton of uncertainty.