Or robust depending on your point of view. The consequences for running out of cash are simply not that severe.
Let’s say you own a restaurant, your revenue goes to zero. You pay wages owed, then stop. Unemployment picks up a part of the loss for employees, their landlords feel the pain. Food goes bad, restaurant takes a loss on that. Rent doesn’t get paid, landlord foots the bill. Utilities go to nearly zero, etc.
By the time this is all over, we will see 3 things:
1) we will learn where safety nets did and didn’t work
2) landlords will have to lower rent to account for periodic lost income over the next 2 years or they will have to agree to self insure for losses during times of shutdowns.
3) we will have insights in to which countries have functioning healthcare systems and which don’t. Also which are efficient and not. Hopefully the globe can improve their policies.
Let’s say you own a restaurant, your revenue goes to zero. You pay wages owed, then stop. Unemployment picks up a part of the loss for employees, their landlords feel the pain. Food goes bad, restaurant takes a loss on that. Rent doesn’t get paid, landlord foots the bill. Utilities go to nearly zero, etc.
By the time this is all over, we will see 3 things: 1) we will learn where safety nets did and didn’t work
2) landlords will have to lower rent to account for periodic lost income over the next 2 years or they will have to agree to self insure for losses during times of shutdowns.
3) we will have insights in to which countries have functioning healthcare systems and which don’t. Also which are efficient and not. Hopefully the globe can improve their policies.