[Farm93]

This article really hammered home how depressing the middle-term economic future is, and how little anyone seems to realize it:

I don't think that's true.   I think a lot of people, even many politicians, know how bad the next 24+ months will be for the USA and the world.  

Some of those electing to skip restaurants and bars are doing it for COVID19 concerns, but in many cases they are also doing it for financial reasons too.  Even if COVID19 proves to never have a second wave, the fear of that second wave will cause a lot of families to try much harder to create rainy day savings.   As most USA families don't have those funds, we are likely to see almost panic level saving whenever possible by at least some group of middle to upper-middle class families.

We are pretty much locked into a really bad 24+ months of economic performance at this point. 

COVID19 mandates will cause some forced closures. 
COVID19 prevention policies will cause some businesses to fail.
Fear of COVID and certain job loss will cause many families capable of saving in 2020 to do that creating even more downward pressure.

The Washington Post pointed to politicians to illustrate that Americans are not aware.   That's a faulty conclusion.   A politician up for re-election in 6 months needs to show command of the current medical situation while, at least for now, displaying endless confidence in American consumerism to reduce the potential of a consumer confidence decline that could send the USA economy into a tailspin even if COVID19 illness and death come in at the more favorable rates.

And that's just the USA economic picture.   Historically a global pandemic that destroys economic activity in the G7-type nations often cascades to create even greater complications around the world.   Greater death and greater economic turmoil from the virus, and often political unrest, violence and wars because of the death and economic turmoil.

That gloom and doom scenario is certainly more possible today than it was 5 months ago, but what politician is going to talk about any of that national and global despair 6 months before an election?

[Farm93]

This article really hammered home how depressing the middle-term economic future is, and how little anyone seems to realize it:

I don't think that's true.   I think a lot of people, even many politicians, know how bad the next 24+ months will be for the USA and the world.  

Some of those electing to skip restaurants and bars are doing it for COVID19 concerns, but in many cases they are also doing it for financial reasons too.  Even if COVID19 proves to never have a second wave, the fear of that second wave will cause a lot of families to try much harder to create rainy day savings.   As most USA families don't have those funds, we are likely to see almost panic level saving whenever possible by at least some group of middle to upper-middle class families.

We are pretty much locked into a really bad 24+ months of economic performance at this point. 

COVID19 mandates will cause some forced closures. 
COVID19 prevention policies will cause some businesses to fail.
Fear of COVID and certain job loss will cause many families capable of saving in 2020 to do that creating even more downward pressure.

The Washington Post pointed to politicians to illustrate that Americans are not aware.   That's a faulty conclusion.   A politician up for re-election in 6 months needs to show command of the current medical situation while, at least for now, displaying endless confidence in American consumerism to reduce the potential of a consumer confidence decline that could send the USA economy into a tailspin even if COVID19 illness and death come in at the more favorable rates.

And that's just the USA economic picture.   Historically a global pandemic that destroys economic activity in the G7-type nations often cascades to create even greater complications around the world.   Greater death and greater economic turmoil from the virus, and often political unrest, violence and wars because of the death and economic turmoil.

That gloom and doom scenario is certainly more possible today than it was 5 months ago, but what politician is going to talk about any of that national and global despair 6 months before an election?