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> In 2009, the economy collapsed because of bad loans. There are a lot of credit defaults coming if quarantine doesn't end very soon. The crunch could make 08
by nostromo 7y ago
> In 2009, the economy collapsed because of bad loans.
There are a lot of credit defaults coming if quarantine doesn't end very soon. The crunch could make 08 look mild.
- greedo 7y agoThis is an incorrect way of looking at it. The quarantine isn't the proximal cause of the economic problems, the virus is. If we didn't do any of the social distancing, group limits and shutdowns, if we had just pretended like the virus was a flu that will disappear, then the economy would still have been devastated. People dying en masse have a tendency to make people stay home.