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I’d broadly agree.
I do think the deeper we go in recession the longer it’ll take to come back though but I fix processes so what do I know 🙂
GoatandTricycle-
I would like to see directors and higher paid people taking salary cuts or equivalent for a period of time, rather than low income staff being fired first. But sadly that's how the food chain works.
As consumer we should look to highlight and remeber business that do the right thing in this period, and repay that.
skinny
Maybe not.
If business go bust now, people can retrain and perhaps find different work. While some industries will suffer. Others will flourish.
The capitalist world is a tough one. Ray Dalios principles has a good one: evolve or die. And it's true here. Business and people that can evolve will thrive.
Local cafe should hire a bicycle deliver persons and deliver to all the people working at home.
Barista could become a child minder. Etc.
I am not saying that's right or fair. But it is life.