According to some pundits, the economy will not recover in the sense that we will return to stock market levels and other economic conditions that existed pre-last Fall. Instead, what we will see is the establishment of a new, lower level overall economy. This will mean a lower standard of living for most of us. The uber-wealthy are immune.
Think about the reset that happened when the Internet bubble burst almost ten years ago. The Nasdaq was at about 5,000 pre-burst. Well, it never recovered to that point in the years since. I don't think it even made it back to 2,000. A reset happened.
It may be that we're going to have to get used to a new set of economic realities that will not be pleasant for most of us.
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