What exactly does spring break — the time of year when families, students and tourists of all ages traditionally pour into American amusement parks — look like in the age of the coronavirus outbreak?
bigboo's bro: The use of the terms recession and depression to describe current conditions has great shock value but it is not particularly meaningful. Vast portions of the economy have been suddenly shut off, like a key has been turned. Of course, businesses faced with current conditions and an uncertainty as to how long they will last are rationally engaging in mass furloughs and lay-offs. The unemployment numbers and the decline in GDP are the inevitable result of turning the key to off. The relevant question is how long it will take for the economy to restart and begin running fully when the key is switched on again. This will vary by economic sector and geographic sector basis, depending on how much lasting damage occurs.