Don’t you think that the effects of the crisis on the economy are “lagging” behind?
Titanic didn’t sink in an instant. The great depression occurred 1 year after the initial market crash. Everything was going great with a rosy outlook before the housing bubble burst in 2008. Do I need to give you more examples?
The time-frame for economical crises to unravel should be measured in years and not weeks and months. As far as I am concerned our 2008 crisis is till here and we are experiencing its’ second ‘wave’. This wave was inevitable, but the covid outbreak just brought it forward by a few years.