Originally Posted by
Burt123
I certainly hope it’s only 6 months to a year, however I think most people are really underestimating the amount of damage this has already caused to the US economy and it’s just begun to accelerate. This has been wreaking havoc on the WORLD economy for months now. Our country is not independent whatsoever, which is going to make eventual recovery that much more difficult. Air travel is still a “luxury” for most Americans, so ticket purchases will never reach the capacity they were at for a long time as families struggle to recover as they’re buried further in debt. Just a two-week “stay at home quarantine” will create a huge financial setback to most Americans and we’re already pushing past 1 month of service workers losing jobs. Yes, pilots will continue to retire but I doubt we will see much growth in the industry in the foreseeable future.
I try to judge the health of the economy based off the success of my sisters restaurants. Before this business was booming. She operated three very large places and was planning on opening a 4th. She also was known in the area for paying all of her employees higher than average wages compared to other places and in return they were pretty loyal. Now the state shut her down. IF they get back to work by early April, she will survive at the cost of one building. If they continue the shutdown past April all might be lost. She has already told the employees she laid off that if they come back, they should expect to come back at minimum wage and consider these well established places as a brand new business. She canceled all of her vacations for the year, which required an airplane to get there. Dozens of businesses in her area are gone already, never to return. All of those people will not be buying plane tickets. I don’t see this as a quick recovery at all. It will take a long time to get the big machine rolling again. The capacity for our economy to operate at max efficiency is there but it can’t be turned back on at the flick of a switch. People who are laid off from their jobs could be leaving one region of the country to go live with mom and dad. If places open back up it will take time to hire and train new employees. Anyways, I am bored and ranting. I just hope that everyone has a back up plan besides flying airplanes.