Prepare yourself for a “depression-like” economy going forward. I say that because these job losses are staggering and haven’t worked their way through the economy yet. Real Estate is going crash and burn, no one will buy or rent as empty nests will fill up again. Foreclosures will skyrocket unless the government does something to help.
People are going to be canceling subscriptions. Netflix, Hulu, Disney are going to see declines. Retail is dead, just ask JC Penny.
I sound like such a Debbie Downer and I hope I’m wrong here, but our economy is based on people working and our businesses operate on a debt model. The businesses that survive will have low debt right now and sell something people need to survive.
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