The Worst Economic Crash in 300 Years? But why? – Talk Finance

The Bank of England has predicted that the current economic crisis will be the cruellest in the last three hundred years. That says more about us, as a current set of generations, than any other sociological research.

Lets take a look at three major events in the last century.

Word Wars took the life of the young men, as did the Flu of 1918 mostly. COVID-19, as for now, preys for sick and old people. As cruel as it sounds, it does not put the pressure on society to such extent as wars and H1N1 of 1918. So why the crisis of 2020 should be cruellest in 300 years?

Maybe the answer is in the economic itself, drowned in services, startups and other counter-intuitive yet important branches? Maybe tourism and hospitality are not the safe grounds for healthy economy? Or outbound travel is not as important as we suppose? I dont know, but I know for sure: the worst crash in 300 years will be caused by our own hedonism and weakness, not by the COVID-19.

The rest is here:

The Worst Economic Crash in 300 Years? But why? - Talk Finance