SeattleRocks
Recycles dryer sheets
- Joined
- Mar 18, 2019
- Messages
- 72
I'm surprised it turned around that fast. I was half-expecting a recession that would last for years. Instead, it seems like we may pull out of this in a few months.
We haven't seen companies earnings yet, nor the full impact of unemployment. Defaults, bankruptcies, housing market are all still to come. We will have to wait and see if the Fed's stimulus and backstops are enough.
I think we are in early innings of this thing and while the run up has been nice, I personally believe it is temporary. Q2 is going to tell us quite a lot and I believe its a good possibility to get back below 20,000 and possibly even retest the 18,500 low.
Here is the issue - its a Catch 22. If we jumpstart the economy too soon, we are going to see a nasty and deadly virus impact but if we don't all start getting back to work the economy is going to fall apart. Really difficult decision the President has to make.