COVID-19 Outbreak (Update: More than 2.9M cases and 132,313 deaths in US)

Bayouboy said

The post-virus economy has me concerned.....especially here in Louisiana where we depend so much on tourism. Even if we fully open, it will be months or longer until people feel safe enough to travel (New Orleans specifically because it was a hot spot early on). The economic ramifications will far outweigh the effect of the virus when its all said & done.

Country-wide, we are looking at a guaranteed recession.,,,,,but could this pandemic lead to an economic depression? Very possible. I hope not, but times could get tough in the coming months/year.

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I do have major concerns about the New Orleans economy for the reasons you state. At the same point, it is an opportunity for us to move past an economy based more or less on tourism. It's not a good idea to be so focused on one sector and virus' like this could become the new reality and we will need to be prepared for that. The other good news is that given the issues with getting things from China, Taiwan, etc. during this situation, it may prompt U.S. companies to move some of their manufacturing capacity back to the U.S. and areas that are not as densely populated as the Northeast, and so not as subject to a quick viral spread, may look attractive to them. That and some companies in the Northeast may look to move to less densely populated locations.