The U.S. government will have to step in and help people..........exactly how and in what form and fashion I'm not sure.

When we say this is better than that I do recall the line from The Big Short by Brad Pitt:

 

"If we're right, people lose homes. People lose jobs. People lose retirement savings, people lose pensions. You know what I hate about banking? It reduces people to numbers — every 1% unemployment goes up, 40,000 people die, did you know that?"

 

I did find articles that verified the premise even if the numbers are not exact. When we say a crashing economy is better than deaths its not really an either/or situation. A severely damaged economy will result in more deaths than a robust economy. With a parent in the 80s and a mother-in-law who has fought lung cancer and is about to back into another battle I would not want any of them put at risk unnecessarily. But in accepting a damaged economic situation we are also accepting more deaths in our society that would not have been there otherwise.

I believe people as a whole are in much better financial condition today than in 2008, largely because of 2008. The financial impact of COVID-19 will be significantly less than 2008 and the economy and markets will bounce back significantly faster than 2008.

I believe people as a whole are in much better financial condition today than in 2008, largely because of 2008. The financial impact of COVID-19 will be significantly less than 2008 and the economy and markets will bounce back significantly faster than 2008.

 

It’s really hard to say. Yes, we’re better off today but we’re also fighting a health issue, that will cause a financial issue. Multiple fronts.