Official 2020 Recession Thread - CONFIRMED

I think under a best-case scenario, it's going to be bad for probably the next five years.  It's going to take the job market a while to come back from this.  Also, many small businesses including most bars and restaurants probably aren't going to make it.

Worst case is this triggers a credit crisis and we get a second Great Depression.  That's actually more likely than not at this point.

Trump administration officials are predicting 20% unemployment.   This is going to be ugly.

I don't think things will ever 'return to normal' even after the pandemic. We're looking at likely a decade of economic misery. Life as we all have known it is over.

I had a feeling this would happen on 11/9/2016, when America decided to elect a Republican again only eight years after the last Republican destroyed the economy. Only those seem like the good ole 'days compared to this.

They are so drunk on their hatred of everyone who doesn't look, think, act, and worship like they do they will sacrifice their own wellbeing just so they can kick around gays and spit on brown people.

And also, fuck Trudeau too, even before the 2020 pandemic, he was making taxes higher and unsurprisingly, is selfish, doing nothing to slow down the recession. I live in Canada, but I'm also worried for the United States and what's happening, just as how much I am worried for Canada and my home country Philippines.

Commercial real-estate is a ticking time bomb.  If we can't go at least mostly back to normal by Summer 2021, it's going to get ugly.  If things went back to normal today it would take until 2024 before small businesses would recover.

There's also a very real possibility things like movie theaters, live music venues, galleries, museums, and other cultural institutions are gone forever.

That's what we currently have.

I would say the Dow should be somewhere between 6000 and 12000 if it was still tied to the real economy but it no longer is.