Quote:
Originally Posted by Mad Max
The day is fast approaching when the majority of unaffected people are going to say, **** this, let me live my life and support my family, there are way too many people losing their jobs/livelihoods for the (unfortunate few) that will die from this virus, don't get me wrong, but if no vaccine is forthcoming what else do we do?
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The majority of unaffected people working from home aren’t going to proactively and regularly put themselves at risk when that day comes. They’ll be quite content saving a few grand a year on their commute to central London.
People can’t magic themselves into jobs that don’t exist, or customers from nowhere. All your scenario brings is a lot of angry people, a lot of infected people and some deaths. Which will inform the decision making (consumption habits) of some groups to behave in a risk adverse way. Others portray this as binary - hiding under the stairs or behaving normally. It isn’t. But how much people spend (and where they spend it) will have altered in an irreversible way.
Three groups of consumers - those at risk who would shield, those fully or partially working at home, and unfortunately those whose employment circumstances have changed can’t/won’t start acting like it’s 2019 because they get bored.
Fundamentally there’s a lot of jobs that simply won’t come back even if people did start revolting. Which is why it needs leadership and a strategic economic response instead of bean counting from people under the false apprehension that we have any intention of repaying £2 trillion of debt.