LET’S KEEP THIS SITUATION IN PROSPECTIVE!
If Americans play it safe and following warnings and health officials, then we will weather this storm!
Let’s not forget this is a virus similar to the Flu in that it is NOT heat resistant and people need to be cautious, smart who they interact with!
Remember 20,000 people THIS flu season have died! Over 35 Million Americans have been struck with the flu!
THERE IS AN END!
The good news: The economy is on far more solid footing than it was during the Great Recession of 2007-09, which lasted 18 months and caused nearly nine million job losses. Household debt as a share of GDP is at historically low levels, down from record highs during the previous downturn. And Americans are saving about 8% of their income vs. just 3.6% in late 2007.
Consumers are in pretty good shape, putting them in position to spend robustly after the crisis is over as long as the can weather the storm.