As long as the Fed keeps promising to pour TRILLIONS into markets (from equities to junk bonds) to hold up the economy, we'll be okay.
Hell, they did it to keep short term credit markets working last year and into this year, before the virus hit.
Plus, we have the massive spending bill Trump signed into law to keep the money flowing.
They don't discuss this stuff on talk radio, for some reason.
What's troubling is that the fiscal response to the pandemic is having the effect of killing small and medium sized businesses/farms/restaurants and supporting large corporate chains, futher consolidating the wealth and power at the top. The top 10% are making out like bandits in the pandemic.
We won't see the real effect until programs like the PPP end, and the REAL layoffs start. Sadly, the planning councils being established by the Administration lean heavily on the Billionaire/Corporatist Class who are unlikely to write a recovery plan for the economy which doesn't benefit themselves.
The effect of the each of the Republican economic crashes has been that the rich got a LOT richer, and the poor got poorer with each successive crash. The working class haven't recovered from the 2008 crash, but the elites who own 80% of the stocks, are already profitting from this one, even as 40 million are out of work. Small business owners say that even if they survive this crash (and many of them won't), they've taken on so much debt that they'll be working util the day they die to pay it all off.