Agreed though I think you hit the nail on the head...how much demand will there be after the pandemic passes(?). We were at the apex of a bull market, now we're heading towards a deep depression. A lot of those jobs won't exist sadly. This goes for current markets impacted but the ripple effects are pretty large.
And lots of people don't realize how long this will last. They say we're going to reopen in a month, but right now the curve doesn't seem to be bending significantly. We're not going to reopen when there's way more cases, and that's where we're heading.
Also, when we reopen, it will be short term and still pretty locked down. It's absolutely not the end, but a slight reprieve.
Good points. I would agree that when we do open up (which we will have to) it will be to a very different landscape of people who are much more cautious and have much less disposable income to spend. Without a vaccine, I would be think that infections around the world will keep bouncing around and reinfect countries without significantly coordinated efforts between countries to manage outbreaks or there would be long term shutdowns of trade, people flow amongst countries.
Those of us who manage to keep our income will have a lot of disposable income, since we're basically removed transit, eating out, entertainment or vacations from our budgets.
But there will definitely be fewer places to spend it.
