Tintrlvr
Junior Chimp
Posts: 5,311
|
 |
« on: March 28, 2020, 11:37:04 AM » |
|
I don't think there will be a long-term crisis, though there will obviously be a lot of short-term pain. I think by late 2021 into 2022, coronavirus will look like a distant memory, economically speaking, which is quite a contrast to how things felt in, say, 2010. I think there is some cognitive bias as a result of the last recession being very drawn out to assume that every recession results in a major long-term economic crisis, which is certainly not the case historically; most recessions of the past 100 years were very temporary events with fast rebounds on the upswing. And the fact that this is a external-shock recession rather than a financial-crisis recession strongly points to a fast rebound.
|
