Comments by "Paul Aiello" (@paul1979uk2000) on "Why The Coronavirus Recession Is Unlike Any Other" video.

  1. They say there was no problem with the economy before the virus hit but that's fault, there were many indicators that the economy was in trouble before this kicked off and it's estimated that the stock market was already around 30% to 40% overvalued before this virus hit with a bubble ready to pop, this virus is just making it worse so yes we are on the way to a recession and there is a fair chance it could lead to depression, we really can't compare this to anything in history because we've never shut down the economy on such a scale like we have done now and we really don't know how long this will last, in any case, this virus is the trigger to a recession that was likely going to happen even without the virus just a little later on so no, the economy is in bad shape, much worse than some think because interest rates were pretty low to begin with in that we didn't fully recover from the last recession. I do know one thing, it's unlikely things will return to normal once the dust settles as this is a major shock to the system and a big wake up call for the people the world over, so the real question is, how deep is this recession going to hit and how long, that's something that is very difficult to answer and I won't even entertain trying as we have nothing in our history to compare this too. It's also funny watching the stock market go up even thought most businesses are shut down, that's something the tax payers have to look forward too when it comes to footing the bill to keep the corporations and rich elites afloat whiles the public gets a few crumbs from the government and those in government don't see how that could be a major problem going forward lol. I should also point out that this virus is exposing a major flow in a lot of our thinking in that most people live pay check to pay check with little to no savings and a lot of businesses do the same so when things slow down or come to a stop, they are in real trouble, it's crazy that people and businesses don't put some cash away for a rainy day and just assume things will keep ticking along and worse yet is that they expect the tax payers to bail them out.
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