mich800 wrote:
That is going to bankrupt a lot of businesses. This has the potential to create a pretty big crater in the economy.
Maybe. Mixed thoughts.
If a business has been operating on the edge financially, then it will probably impact them. However, any supply or demand interruption would have hurt them sooner or later. I suspect a lot of businesses have room to tighten their belts and weather the storm. And entrepreneurial businesses that innovate may actually thrive.
Supply has not been disrupted and demand is not going away. And when this is done, a lot of people could 'go shopping' for everything they held back on. Yup, the stores are out of toilet paper (thanks Australia - look it up). Some people have horded a two+ year supply. They aren't going to buy any more for a long, long time. Supply will catch up before you know it.
Remember, our economy is fundamentally strong going in to this. It is not like some financial bubble has been waiting to burst.
Finally, turn off the (naughty word deleted) news.
I will wager staying glued to the COVID news will cause more harm to the collective mental health of our nation than the virus itself. You know what you need to do. Watching the play-by-play will just cause you more stress and panic. Toilet paper is a great example of media induced hysteria - because it is a large bulky item, it is really easy for a store to have a wiped-out appearance of empty shelves. Fifty packs of TP takes a lot more shelf space than fifty packages of beans.
From the movie Men in Black, a lot of truth in this line: "A person is smart. People are dumb, panicky dangerous animals"-Eric