I have to think that as a society, we’re going to be introducing a lot of slack that never existed before. Consider commercial real estate: there are going to be loads of small businesses that can’t make rent in the next 3 months... but from a landlord’s perspective, it probably doesn’t make sense to terminate the lease (or hound the business into bankruptcy or something), because who the hell else are they going to get to rent the place?
If more banks follow suite with deferring mortgage/loan payments... All the stops are being pulled. If the governments can get their shit together over the next 2-3 months we could actually hit play after this pause and have a real shot at rebounding.
Other countries, and developing countries, may.. Will not be so lucky.
