Quote:
Originally Posted by clickconductor
2cts coming from someone that experienced 2000 and 2008 crisis:
this is not a financial crisis like 2008, it's a pause button for the entire economy, but fundamentals are healthy, ie it will bounce back without crushing the real estate
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You are both right and wrong.
This is not a financial crisis like 2008.
Wei will no, however, "bounce back". Don't kid yourself that after two months we suddenly turn the economy back on and say "okay, back to business". A large amount of businsses will not survive. A lot of those jobs will not come back. When we do go back to business as normal a lot of people and companies will have huge finacial issues. At the same time a lot of people and a lot of companies will not have much faith in the economy, and will be holding on to their money instead of spending it. Then factor in that this is the first round with this virus. This is the first round. It will be come back again.
This is going to be worse than the great recession. This will be worse than the great depression. They are talking about twenty to thirty percent unemployment.