Chapter
Comparing the COVID-19 Pandemic to Historical Economic Events
03:24 - 16:36 (13:11)
The severity and length of the COVID-19 pandemic may not equate to that of the Great Depression, but it is likely to cause significant changes to the regular order of life. China may face the biggest economic hit initially, but they also have the potential for a faster recovery due to their quick response to control the curve.
Clips
The COVID-19 pandemic has caused a different kind of recession with unprecedented impacts on several industries, leading to a 10% fall in the US stock market and an uncertain future for the economy.
03:24 - 06:42 (03:17)
Summary
The COVID-19 pandemic has caused a different kind of recession with unprecedented impacts on several industries, leading to a 10% fall in the US stock market and an uncertain future for the economy.
ChapterComparing the COVID-19 Pandemic to Historical Economic Events
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The speaker speculates that China will have the biggest economic hit due to COVID-19, but may also have a faster recovery.
06:42 - 08:24 (01:42)
Summary
The speaker speculates that China will have the biggest economic hit due to COVID-19, but may also have a faster recovery. The short-term impact on other countries may be less severe, however the recovery process may be more drawn-out.
ChapterComparing the COVID-19 Pandemic to Historical Economic Events
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
The severity of the change to the regular order of life caused by the current economic crisis could be compared to the Great Depression and may also be linked to China's recent financial downturn.
08:24 - 12:33 (04:08)
Summary
The severity of the change to the regular order of life caused by the current economic crisis could be compared to the Great Depression and may also be linked to China's recent financial downturn. While it has the potential to be more severe than the 2008 recession, it may also recover more quickly.
ChapterComparing the COVID-19 Pandemic to Historical Economic Events
Episode#151 - Morgan Housel - What Has Covid-19 Done To The Economy?
PodcastModern Wisdom
As COVID-19 continues spreading, people may become adjusted to living with the risks involved rather than total isolation, despite the potential severity it could cause.
12:33 - 16:36 (04:03)
Summary
As COVID-19 continues spreading, people may become adjusted to living with the risks involved rather than total isolation, despite the potential severity it could cause. In contrast, the risks involved during the financial crisis of 2008 involved simply losing one's job.