This is a speculative piece that is, by the author's own admission, a scenario rather than a prediction.
But it's unsettling because it somehow feels more plausible than most thought pieces on where all this is going. Not as a single big-bang, but a multi-year big-squeeze. That and the circumstances being materially different from previous recessions/crises that governments and policy makers won't have a ready-made playbook to refer to.
I expect we'll see governments attempting the old playbook than doing nothing though. Fiscal and, specifically, monetary stimulus.
But it's unsettling because it somehow feels more plausible than most thought pieces on where all this is going. Not as a single big-bang, but a multi-year big-squeeze. That and the circumstances being materially different from previous recessions/crises that governments and policy makers won't have a ready-made playbook to refer to.
I expect we'll see governments attempting the old playbook than doing nothing though. Fiscal and, specifically, monetary stimulus.