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The US never 'recovered' from the 2008 crisis, we just printed money and used it to pay those 'bad loans'. That bad money is still in the economy, and since the
by beforesnstblvd 6y ago
The US never 'recovered' from the 2008 crisis, we just printed money and used it to pay those 'bad loans'. That bad money is still in the economy, and since the loaning didn't stop, there are even more bad loans now. That is the reason for this crisis, it is why not even one week after the virus started hitting the US everyone was asking for a bailout.
People and Companies have no savings, they live paycheck to paycheck, loan to loan. This crisis is way worse because the loans are way worse and involve everybody.