This really is a massive bomb under the economy. Credit is stretched by years of low rates and now a lot of things have to stop.
Other commentators hint at postponed spending, which would be good. But many things in the economy do not work that way. If you skip your holiday now, it's not coming back and the hotels and restaurants will not get that money later. Same with a number of other businesses.
It's not that I'm saying it's all lost, but you have to count on some share being lost.
There has been no evidence that Cov-2 is anywhere as heat sensitive as influenza. This isn’t “the flu”. It doesn’t have to conform to flu patterns.
Right now the only countries getting this under control are ones that have started social distancing early and left many measures in place.
Just because people over 70 won't be going to them, doesn't mean the rest of us won't be. Besides, once I've had cornavirus - which could well be inevitable - I'll no longer be scared for it and will head back out. So will everybody else.
To be honest, the best way to avoid a severe economic impact is to accept you'll most likely get it, and rather than killing businesses by staying inside, just got on with your life, stay fit and healthy, and hope for the best. You're more likely to be killed driving your car, so carry on living!
I sure hope you don't have any elderly family members. Plenty of people in their 40s have died too
Your strategy will probably keep you alive, but the same is not guaranteed for many millions of people that are old or with immune system complications.
It really is different this time, and it frightens me, not the virus itself but the economic ramifications.
The best case scenario is that summer stops the virus from spreading, panic lessens, and then a treatment is found before September that is effective and quick. Then a vaccine comes out next March 2021 and everyone is happy again.