I don't feel this article focused enough on the primary driver - deferments. Credit card, mortgage, auto, rent payments were all deferred the same time money wa

I don't feel this article focused enough on the primary driver - deferments. Credit card, mortgage, auto, rent payments were all deferred the same time money was handed out. At the same time, the ability to spend money to travel, go out to eat, etc all evaporated. This let people pay off debt, save, or invest. All of which is probably good considering... There are multiple super scary looming issues: * Commercial real estate is about to collapse * Renters are about to have to start paying again (although, with Trumps executive order, maybe not?) * Auto repos are about to pick back up * Those who are required to use credit cards to finance their lives are about to be cut off (banks are limiting increases) * Wave two of the virus is going to increase * Civil unrest from elections, pandemic, racism, etc. are going to [probably] continue to escalate * Inflation will start to hit (we can already see it in the stock market and some food prices). This will effectively reduce any stop-gap mechanism. * Unemployment insurance is going to start dropping off for people (who did apply). States typically have 12 - 24 weeks[1], plus the additional 13 weeks from the CARES Act. * Although unemployment is dropping, part of that is their counting mechanism. Many left the job market (my parents just retired), job openings are dropping (we will see Junes tomorrow[2]), a second pseudo-lockdown will likely continue through the end of the year. * Many small businesses haven't really "recovered" and are still running red. Many will be out of business by the end of the year. * Oil prices are stagnant, but any kind of lockdown will cause this to drive down further.[3] * Airlines aren't expecting a recovery any-time soon. [4] [1] https://www.forbes.com/sites/zackfriedman/2020/04/29/unemployment-benefits-extended/#7a66ba652a51 https://www.forbes.com/sites/zackfriedman/2020/04/29/unemplo... [2] https://tradingeconomics.com/united-states/job-offers https://tradingeconomics.com/united-states/job-offers [3] https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic https://www.marketwatch.com/investing/future/crude%20oil%20-... [4] https://www.barrons.com/articles/german-airline-lufthansa-says-it-expects-flying-slump-to-last-until-2024-51596722375 https://www.barrons.com/articles/german-airline-lufthansa-sa...