ahalpert
Major Contributor
One thought I had on the great depression -
Some people are wondering if this pandemic will leave a lasting imprint on us like that depression did. My guess is that it won't, because in the worst case scenario covid will last 1.5-2 years. The GD lasted 10 years, followed by a major 6-year war that imposed rationing (or devastation, depending on where you lived). So the GD was a factor of magnitude longer.
But maybe we'll come out of this more germophobic and neurotic about hand-washing. Maybe mask-wearing will become more common. I, for one, will be much more afraid of the next epidemic that gets reported.
But the real lesson this drives home for me, on top of the 2008 recession, is that a recession could happen at any time and for reasons that even clever people can't predict.
Some people are wondering if this pandemic will leave a lasting imprint on us like that depression did. My guess is that it won't, because in the worst case scenario covid will last 1.5-2 years. The GD lasted 10 years, followed by a major 6-year war that imposed rationing (or devastation, depending on where you lived). So the GD was a factor of magnitude longer.
But maybe we'll come out of this more germophobic and neurotic about hand-washing. Maybe mask-wearing will become more common. I, for one, will be much more afraid of the next epidemic that gets reported.
But the real lesson this drives home for me, on top of the 2008 recession, is that a recession could happen at any time and for reasons that even clever people can't predict.
