Billionaire Sam Zell Sees Economy Permanently Scarred by Pandemic

[marmar]

(Bloomberg) Sam Zell, the billionaire known for buying up troubled real estate, said the coronavirus pandemic will leave the same kind of impact on the economy and society as the Great Depression 80 years ago, with long-lasting changes in human behavior that imperil many business models.

“Too many people are anticipating a kind of V-like recovery,” Zell said in an interview with Bloomberg Television. “We’re all going to be permanently scarred by having lived through this.”

Just as the depression left behind a generation that couldn’t shake the experience of mass unemployment, hunger and desperation, the burdens this crisis has forced on society may be similarly hard to forget. Zell, 78, said it won’t be easy for people to live as they did before the “extraordinary shock” of the pandemic. .........(more)

https://www.bloomberg.com/news/articles/2020-05-05/billionaire-zell-sees-economy-permanently-scarred-by-pandemic?srnd=premium

[pbmus]

1. Zell is a vampire capitalist...and will do very well in this pandemic

[Wellstone ruled]

2. Listened to that interview

and so much what Zell said is true. And yes,if you are post 75 or 80 and remember what Gramps and Grams told you about those years. You saw the post depression scares in real time. And you had better have payed attention.


Not a Sam Zell fan by know means,but todays interview was a true eye opener.

[unblock]

3. yes, but exactly what changes, that's the question

i think businesses will put working from home in better perspective. this crisis let them see (a) how well it can actually work and (b) how it can save on expenses like office real estate. nothing like being forced into a company-wide experiment!

so a lot more companies may end up having people come in only 1-2 days a week, to a smaller office.

and no more handshakes, please!

[pbmus]

4. Enough with the handshake already...

‘The history of the handshake dates back to the 5th century B.C. in Greece. It was a symbol of peace, showing that neither person was carrying a weapon. ... Some say that the shaking gesture of the handshake started in Medieval Europe. Knights would shake the hand of others in an attempt to shake loose any hidden weapons.‘

https://deepenglish.com/2014/07/handshake-history-listening-fluency-116/