"I personally gave my business a loan," O'Donovan said. "We're trying to keep people employed."
Restaurants have been particularly hard hit because many were forced to close as soon as President Donald Trump told Americans to stay away from eating establishments and bars in March. O'Donovan has kept a handful of worker busy with a takeout business. Customers can pull up out front, and the staff loads takeout meals into the back of their vehicles. Delivery services would be a costly overhead.
"There is a boatload of stimulus coming, and I do think it is big enough to offset the demand shock," said Mark Zandi, chief economist at Moody's Analytics. "The first quarter was probably down 4 or 5% I think. A lot really depends on what you're assuming for the timing of the lock down and what a lockdown means in terms of output.
But it will be the road back, and how many businesses fail along the way that determines how quickly the economy can come back. "As soon as businesses reopen, you're going to see this surge in activity," said Zandi. The recovery of the economy could also depend on whether a medical solution is found that would enable people to congregate again, even if it recurred.
According to the survey, about one in four have already shut down temporarily, and of those that have not, about 50% say they are likely to close at least temporarily within the next two weeks.Just as O'Donovan is making his way through the unchartered course of the weeks of virus shutdown, so are the commuters in the homes near his pub. Many work in professional jobs and are now working from home, many with children at home.
I think that will depend on who’s in the WH . I’m sorry but VPBiden isn’t the one for this job .
jimcramer wants a national stay at home order. Cramer is advocating for complete business annihilation
If only we could bail out small businesses and working people instead of corporations and rich as*holes! Sad!
Depends on how badly people need to go out and waste money.
That is appalling grammar, even for a tweet.
Don't be all Doom and Gloom. Try to be positive
If we had an accurate time table for this it would surely be easier to predict.
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