FAST FIVE: 2008 Vs 2020: Better, Worse Or Unknown?
Comparison: Better than 2008 Business vulnerability: The same cannot be said for the business sector.
Lehman's collapse set in motion the chain of events that led to the worst economic downturn since the Great Depression, but, in isolation, the Lehman collapse had very little impact on the economy.
Unfortunately, estimates of the COVID-19 impact on GDP continue to worsen, exemplified by a projection of -24% annualized GDP contraction in Q2 from Goldman Sachs.
In addition, most economists currently project a swift rebound in the third and fourth quarters, presumably once virus concerns fade with the arrival of higher temperatures in summer.
Much remains uncertain and dependent upon the path of the virus.