Current state of affairs from a prominent NY AD.

[fsprow]

Originally Posted by Golf&Watches

36 million unemployed. I have friends earning high six/seven figures, their jobs are gone, their fixed costs are $40k+ per month, there are tens of thousands like this in NYC, London etc. This has the potential to be depression matching, almost everyone shall be affected (those prospering via taxes). A truly devastating event.

Not “unemployed” in any traditional economic sense. Rather, they were told they could not physically return to work. As states reopen - most, perhaps not all right away, will have $$ coming in again. Hope many folks had some savings to draw on to cover this period. Far from devastating in my view.