Quote:
Originally Posted by afc wimbledon
I would agree but in 2008 normalcy was the next day, with this we could be in for months of waiting for normalcy, months of economic inactivity, add that the effects of years of near zero interest meaning most companies and individuals are deep in hock, even with near zero interest payments you still have to declare chapter 11 if you cant make money for 3 or 4 months.l
You cant fix the economy until the virus has been dealt with, that's the difference
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Normalcy the next day? It took 18 months for the stock market to bottom out because the shocks kept coming and the stress on financial institutions kept building.
After the bottom, there was no cure or solution. There was continued - and very real - concern of government financial failure all over the world. The main pressure of which lasted for several years.
The people that lost their jobs in 2008 had little to no hope that those jobs would return.
2008 was SUBSTANTIALLY worse and deeper than this is likely to be. And last MUCH longer.