I do not see the world economy strongly and quickly bouncing back. There is the noise going on that things will be back to normal and stronger in the next few months. What are the experts missing?
- Many small business people are financially hurt and now carrying high debt loads.
- Companies are now comfortable with lower payrolls and will not rehire back everyone. Can fewer employees do the same amount of work as before? What happens if many companies decide not to hire back every last employee?
- People are afraid because of Covid-19 and the last great recession. Closed wallets could become the lasting norm. Most of the old timers (many are now gone-but history tends to repeat itself) who grew up during the great depression hold or held on tight to their savings.
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