Bloomberg posted and article today with an expert concluding that a recession is an absolute certainty post-virus.
There’s something we ALL need to remember when we emerge from this. They are going to sell you recession and depression. Most people think these are economic events. THEY ARE NOT. They are psychological events. Recessions and depressions happen when people believe they’re going to happen (often after they’ve been told they’re happening) and everyone starts acting it out. Business and people pull back. The pandemic is bad enough. We don’t need to double our pleasure by believing in a massive economic downturn after it.
For better or worse, the federal government is flooding business with money. Hopefully, this next round will actually get to the people who need it. There’s likely more direct aid on the way for individuals.
Take a breath.
Businesses taking money, do the ethical thing and keep your employees employed.
Make people whole. No one should lose their house, their apartment, or their vehicle during this situation or because of it.
When we are able to safely restart the economy, choose not to act like there’s a recession or a depression.
Together, we can beat the virus and stave off the naysayers who predict economic doom after this.
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