Coronavirus (COVID-19) will cause long lasting, maybe even lifelong changes in many people’s behavior. The negative economic impact thus far is stunning. Are the days of spend ,spend, spend, and maxing out credit cards over?
The housing bubble and Great Recession did not seem to halt overconsumption, but this COVID-19 catastrophic event may tattoo onto brains to save not just for a rainy day, but a massive thunderstorm. Or will caution be thrown out the window because of all the uncertainty in today’s world such as: nuclear weapons, climate change, and virus pandemics, etc? Live for today and forget tomorrow.
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