Retail isn't the only thing hurting. I live off my military pension and my dividends from investing. I keep a very close eye on the market. Plenty of industries are hurting now. Tens of thousands of oil workers are on the street right now and with capacity at nearly 100 percent those people wont be working any time soon. That is from the guy working the rig to the people on the ships to the people that maintain the pipelines and the guys that drive the trucks. Its basically the 1970's steel crises all over again in that industry.
Any cruise line not named Carnival could be filling tomorrow, and truth be told Carnival is only surviving due to scale. Auto industry sales are down 38%. Plants are closed or operating at diminished capacity. People without jobs dont go on cruises and they dont buy new cars.
Tourism, Sports, Entertainment, Retail, Marketplaces, Restaurants and Fintech are Most Affected by COVID-19 Lockdown https://www.marketwatch.com/press-release/5-industries-most-affected-by-covid-19-lockdown-2020-04-21
People are not taking this seriously and its easy to see why. All of whats going on in these industries should be in the news everyday but pimping fear is easier. Joe average doesn't even know its going on.
Anxiety is a very real problem and we will be dealing with the after effects of this for years to come.
I do not know of anyone that that has died from covid-19. My son had it and a friend had it. My 30 yr old son didn't even know he had it and my friend was sick for about three days. On the other hand I have a friend whose 20 yr old son has turned into a recluse basically refusing to leave the house except for food. I Know of another guy that was a drug addict, clean and sober for over 12 years that is using again because he has been sitting in house for the last 4 months doing nothing but collect that extra $600 a week.
That is not to mention all the people with preexisting health conditions that haven't been able to see a doctor, many of whom have probably been self medicating, or the tens of thousands that will find out they have an incurable cancer or other disease that could have been cured if they could have got that test done back in March or April that they were scheduled for. Heart disease Kills about 650,000 every year and Cancer kills around 600,000 BTW.
This is on top of the work from home push that will probably shutter some office buildings and tech complexes across the country. A lot of people are about to have no job to go back to.
You can revisit this comment in a couple weeks after that money runs out. I predict sky rocketing crime, double digit unemployment, and higher taxes. and its already starting to happen IMO. Even CNN admits that https://www.cnn.com/videos/us/2020/06/26/violent-crime-rising-gingras-nr-vpx.cnn . I hope you get to tell me I was wrong but I dont think so. This is just like the steel plant closings of the 70's only on a national scale.