It will be a long time before the economy recovers -- and it won't be the same.

[riversedge]

When will the economy be good again?

It will be a long time before the economy recovers — and it won’t be the same.


https://www.vox.com/policy-and-politics/2020/4/9/21212743/coronavirus-economic-crash-2020-recovery-stock-market-covid-19

By Dylan Scott and Emily Stewart Apr 9, 2020, 9:30am EDT



We know the US economy is bad right now. Millions of people have lost their jobs, and millions more will. Estimates for how much unemployment is expected to spike and GDP will fall are staggering. Production and spending across much of the country have been brought to an abrupt halt.

It’s natural to want to see a light at the end of the tunnel, obviously in terms of the health crisis caused by coronavirus but also for the economy. And there will be one — eventually.

“The very best-case scenario is we rapidly bounce back and we get close to something where we were before. Personally, I think that’s highly unlikely. The shock from the virus is going to trigger a broader economy-wide recession,” said Jesse Edgerton, an economist at JPMorgan. “That’s a really harsh reality.”



The question of when and how the economy gets better largely hinges on our ability to get the virus itself under control. Despite calls from some Republican lawmakers to get back to business before that happens and even some speculation about reopening the economy early from the president, it’s not a realistic scenario — people likely aren’t going to be falling over themselves to go out to restaurants and pack into movie theaters as a deadly virus spreads, or as they or their loved ones get sick.

At some point — and we don’t know exactly when — the economy will bounce back, at least partially. When it does, that new normal will be different. Many Americans may be worse off than they were before, some people may still be afraid to resume their lives as they once lived them, and many businesses may have permanently closed.

“There will likely be some permanent damage inflicted on the economy,” says Greg Daco, chief US economist at Oxford Economics. “What this shock is doing is exacerbating preexisting inequality issues across the country. The individuals who have been hit the hardest are the individuals who were in the most precarious position to start with.”........................................





https://cdn.vox-cdn.com/thumbor/-XI5WZNKKPyKJwtZK8OBqdVsXjw=/0x0:4416x2944/920x613/filters:focal(2241x1077:2947x1783):format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/66627662/GettyImages_1213734411.0.jpg

A woman walking on an empty street wearing a mask.
A woman walks down an empty street in Lower Manhattan on March 20 in New York City. Spencer Platt/Getty Images

[empedocles]

1. We need be careful. There is so much interest in a full recovery, there will be

a lot of 'information' to fulfill that demand.

[Ala the real estate recovery of the past 10 years with much industry manipulated data apparently]

[Wellstone ruled]

2. Sure as heck seems to be the trend.

When the Gaming industry claims they will start up with maybe 20% of their pre Covid-19 staffing levels and are projecting years away from getting anywhere near their old levels of Staffing.

Watching the Auto Industry,we are just a few weeks away from what is their normal Summer model change overs. Are they going to replace human run Robotics with all Robots? Last year stories were in various Business Publications talking about a 12k-14k worker replacement with AI and Robotics if and when the next recession happened. And a possible jobs loss numbers as high as 45k if certain criteria happened.

So,we are now in uncharted territory,and as the bailout money faucet is wide open to all Corporations with minimal rules,hang on it might get darn ugly for the Blue Collar Men and Women associated with any type of Manufacturing.