Lots of service workers will be out of work for some time and lots of small restaurants will be gone. But pretty much everyone else will get back on the job. The upside is that for a lot of people they will have more money because there will be less spent on dining and entertainment. Its going to go elsewhere or get saved which would be a good thing for a lot of Americans. I thnk we will be down to 4 or 5 percent unemployment by years end.
One other upside is people will be staying home in the US for vacations for awhile. BUY MORE RV's!
Your business should pick up as people refuse to sail any more, or fly. I hope you're right that businesses will come back. But it might be years. B&H layed off 20% of their people. How many people here forgoed buying camera equipment for awhile. That affects manufacturers, middlemen, etc. When people don't travel, hotels, restaurants, taxis, and hookers get less business. Will the government lay off PSA security workers at the airport? Disney business is down 90%.
What's really concerning is the banks might wind up where they were in 2008 when we had to bail out the too big to fail. When people default on their mortgages, commercial lease payments, credit cards, car loans, tuition loans, etc, the government might have to backstop them again to avoid a banking crisis. It's probably happening already but the government doesn't want to talk about it to create more fear. Car manufacturers are shut down. They're not service. Money can only go elsewhere if people have it. Plus, if they're saving, there not spending so that affects bottom lines of companies. I see this shaping up like the 1970's stagflation. Lower economic business combined with inflation and ever escalating prices because of too much government printing. Hold onto your hat, Dorothy. There's a storm a coming.
