Every single time there is a downturn it feels like we are drowning. When will the storm end? When will we be able to catch our breath? Where is the dry land? Importantly, how we respond to these downturns can have a big impact on our future wealth.
It is now clear that the world economy is experiencing a sudden stop, which is without precedent in peace time. There are few economic parallels we can call on to give us a framework for how this may pan out as economies have never been closed down so abruptly before or populations locked down in this way.