Bills are due, and this is no April Fool's joke


Today is April first, and this is no April Fool's joke. The bills are due; for both you and for big corporations.

We shut the economy down because of COVID-19, and Lone Star College economist Hank Lewis says the current situation is not ideal.

"When you have people who can't pay rent, landlords can't pay their mortgage, it's a set of dominoes. They get knocked over, and we've got a problem," Lewis explained.

We know the economy will recover, but will it be the 'V' shaped rebound we've heard about, or what we saw in 2009, a 'U' shaped recovery?

"I would say it will be 'U' shaped. Eventually this will flatten and move back up again. The rate of descent is more severe than it was worse in 2008," Lewis said.

It could be worse. It could be what Greece experienced, an 'L' shaped recovery, which means it never returned to where it was before it dropped.


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