Sorry But A Dire Forecast Just Out by the California Economic Forecast Consultants

A report just out by the California Economic Forecast predicts more doom and gloom than I would have liked to have read. “The economy however is not back to the pre-crisis status. During most of Calendar 2020 and in much of the first half of 2021, ongoing economic restrictions will have resulted in millions of permanent business closures and jobless workers. These closures cannot be reopened quickly by replacement businesses. There may also be some lingering fears that a mutated strain of the virus could be present, unaffected by the vaccine, and this would prevent some consumers from spending freely at stores, shops or other public venues…Consequently, because the economy needs time to fully recover, don’t expect a rapid return to normal once the pandemic is declared over. During 2022 and 2023 new businesses will open, workers become rehired, income is generating and spending will rise as a result of the wider income e growth.”  Not in this report but a personal side-note, I am getting the feeling from reading what major corporations are doing with their office facilities that there seems to be a leaning towards recovery in 2022/2023 versus any time sooner.