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[quote=Anonymous]PP here with stats from Great Depression.

GDP contracted 30% and unemployment reached 20% over FOUR years.  We are at risk of it happening over 4 months (Q2).  (Again Goldman Sachs has called for a 24% contraction in GDP and treasury secretary said unemployment could reach 20%.  These are of course projections/estimates but scary as heck)

https://www.britannica.com/event/Great-Depression

I would love to be convinced that we are not about to enter a depression but so far the posts debating the point have not convinced me.  Statements along the lines of “once this is all over there will be pent up demand and things will bounce back” are a lovely thought but I cannot see how this will happen.  So many people will be out of work and many businesses shut down once this is over.  The fed govt can offer a bailout package but just cannot support the entirety of 2/3 of GDP for more than a few months.

This is the time for belt tightening, large infrastructure projects if we can afford them, and the entirety of our defense operations and production to be redirected to fighting the virus.  Can we see the Trump Administration being able to pull this off?[/quote]

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