In terms of the overall economy, I don't see this sharp recovery everyone is talking about. There are too many businesses closed that are going to be closed for far too long. There is no end-game being discussed. It's just an endless serious of lock-downs. The Fed's 14 days followed by the city's 14 days followed by the state's 30 days, etc.
I would guess that at least half of all businesses currently closed will never re-open, because there simply isn't the cash to re-open. Sure, a lot of businesses are going to get relief from the stimulus package, but take my business for example: Yes, it will help me with payroll for 10 weeks. But all of this started around March 1 and I'm not going to be open until a minimum of mid-May and probably more like July. So helping me with payroll isn't really doing anything, because we aren't an ongoing business concern any more; we are literally paying people not to work. We are just a quasi-unemployment office. It will take my own savings to successfully re-open, and most businesses simply don't have the ammo to survive.
The longer things are closed, the longer they will likely be closed, because it is ALWAYS the path of least resistance for the politicians "not" to do something. We will get to the end of April and they will say "Oh let's keep things shut down just two more weeks", then two more, then two more. Who is going to stand up and the microphone and say "you can open up your business again"? I'm not going to hold my breath.
I would guess that at least half of all businesses currently closed will never re-open, because there simply isn't the cash to re-open. Sure, a lot of businesses are going to get relief from the stimulus package, but take my business for example: Yes, it will help me with payroll for 10 weeks. But all of this started around March 1 and I'm not going to be open until a minimum of mid-May and probably more like July. So helping me with payroll isn't really doing anything, because we aren't an ongoing business concern any more; we are literally paying people not to work. We are just a quasi-unemployment office. It will take my own savings to successfully re-open, and most businesses simply don't have the ammo to survive.
The longer things are closed, the longer they will likely be closed, because it is ALWAYS the path of least resistance for the politicians "not" to do something. We will get to the end of April and they will say "Oh let's keep things shut down just two more weeks", then two more, then two more. Who is going to stand up and the microphone and say "you can open up your business again"? I'm not going to hold my breath.
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