"History doesn't repeat itself, but it rhymes" We can look at how economics have worked in the past to get some hints about the present, but ultimately we have

"History doesn't repeat itself, but it rhymes" We can look at how economics have worked in the past to get some hints about the present, but ultimately we have no idea. We may have just entered a new era of financial and economic patterns, or we may be teetering on the verge of complete and literal collapse that would put the Great Depression to shame and have absolutely no idea. We just don't know. Unemployment rates are slowly going back down, and the economy seems to have come to grips with how to handle the virus over the summer, so for now I think we're probably good, but the long term effects of COVID's shock to the system and the tax breaks we passed before it are probably at least 6-12 months away from starting to materialize.