9:07 a.m .: Autosuggestion and economic optimism
Despite the coming severe economic crisis, some economists expect a rapid and solid rebound as soon as people can leave their homes and return to work. Indeed, the consequences of this crisis are more like those of a natural disaster, such as a hurricane, than a traditional financial or economic crisis, economists at the New York Regional Central Bank said.
Like a hurricane, it first hit the travel and tourism industries. But unlike a natural disaster, it did not result in physical destruction, “which could facilitate a faster economic recovery,” they said. Even with massive public spending, essential to allow a rapid recovery of the economy, “the job losses will be traumatic and the post-virus rebound (…) with a full recovery will take 12 to 18 months”, estimates for its part Grégory Daco, of Oxford Economics.
–
