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It doesn't matter how long the period of isolation lasts, we're emerging from it to face a economic crisis that will far exceed the great depression. That crisi
by baron_harkonnen 7y ago
It doesn't matter how long the period of isolation lasts, we're emerging from it to face a economic crisis that will far exceed the great depression. That crisis hasn't even started to materialize yet.
There's no normal to return to, and the immediate future after this will be bleaker than the time we're all in isolation. While isolation continues people won't be kicked out of their apartments, communities will help those in need with food, and nobody will have to worry about those bills that are pilling up. The second everything starts again, all of those debts will be unpaused, all of that community support will dry up, and people will be back to fending for themselves rather than in this together.
There will someday be a normal again but it won't resemble the normal we had in February in US any more than the world returned to "normal" after 9-11, of WWII for that matter.
The second isolation ends then reality will really set in.
edit: Can someone explain the downvotes? Is there anyone that thinks the claim that the economic consequences of this will be horrific is downvote worthy?
- exothermic 7y ago"Our baseline forecast does not see GDP reverting to its pre-virus levels until late 2021 in the US and Europe." [0] [0] https://www.fitchratings.com/research/sovereigns/deep-global-recession-in-2020-as-coronavirus-crisis-escalates-02-04-2020 https://www.fitchratings.com/research/sovereigns/deep-global...