Quote:
Originally Posted by Flacht3
For what it's worth, you rarely get a massive recession in a "single country" at this point without it impacting other countries. Global markets are too intertwined.
Lot's of opinions in this thread, but the truth is no one has the answer. We can only take educated guesses and prepare ourselves for what's coming (really, already here).
But we have NEVER seen a cause like this. We essentially had to pull the plug on the economy (shut down businesses, yank jobs from the market, etc.) overnight. And once the curves flatten, we'll gradually start bringing them back online. This is very different than systematic recessions of the past.
I think of it like this:
We just unplugged the router (massive exponential unemployment), and need to keep it off (unemployment won't get better) but will plug it back in soon, once the system boots back up (jobs will come back online) we'll gradually return to normal. Yes there will be pain and it will still be a recovery, but it's very different vs. in the 2008, the router was broken and it took us a long time to decide how to fix it and find the right replacement parts.
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Agreed. To be clear I didn’t say a single country recession, I said this isn’t stemming from an economic issue in a single country. As in how US banking impacted the world, this is exponentially worse as multiple countries have economic issues and as you’ve said we’re all intertwined. It’s not about having the answers at this point its about coming together and understanding this is real and everyone doing their part. Just shocks me that on a forum essentially for the elite there seems to be 50% with their head in the sand thinking this was goi g to last a week or two. I assume more are waking up to reality now but I thought that 3 weeks ago.