--snip--
Maybe the markets will recover eventually, it always does and even in 2008 the market eventually recovered as well, it took years to get back where it was but it did managed to recover and even go higher than 2008 levels, which means it will eventually go back to what it was one day, however it looks like this sudden fall will probably recover after years.
We always assume that the markets will always recover. During the last 2 crashes, the world has simultaneously been going through an era of expansion fuelled by consumption and technology.
In the 90s it was such grass-root trends like petroleum, automotive, real estate that fed the subsequent recoveries and booms. People bought and worked and partied as our work culture and consumption patterns changed signficantly.
The next recovery and booms were triggered by the services sectors with companies like Google, Apple, Amazon opening up more avenues of consumption. People watched, subscribed and learnt to work their asses off while always remaining connected and driven by success and productivity mantras.
I feel like these consumption patters are not sustainable. The new generation isn't willing to spend itself milling away while consuming without any thought of consequences. With the kind of time-off that the west is going to get from the lockdowns, i wonder how the consumption patterns would change. Would people still care about the rat race and the newest I-phone once they realize how fickle it all is?
