https://www.cnbc.com/2020/09/08/morgan-housel-economy-may-boom-in-2021-like-following-world-war-ii.html
We've seen it before that after a massive crisis the economy booms. Following the influenza pandemic in 1918 and World War II when spending was nearly impossible due to lack of funds and also restrictions by the government, it is likely 2021 may behold an economic boom.
Vaccine testing is underway and researchers are hopefully nearing a final result. Case numbers are plateauing in many regions that saw the biggest spikes. After unemployment reaching 15% in April, it has finally dropped to 8.4% in August. With people returning to, somewhat, normal work and spending habits there is a light at the end of the 2020 economy tunnel.
An economic boom is possible, but not guaranteed.
https://www.ft.com/content/0850c689-2615-4128-85ed-9a89f5c0a82a
Skepticism especially arises regarding the turmoil in Congress. Millions of Americans are still benefitting from unemployment and the $600 weekly stimulus package has expired. Additionally, many jobs are completely gone. Small businesses have been especially impacted. Although it builds a healthier economy to weed out the weak businesses, many small businesses did not stand a chance during the pandemic shut down. Financial Times discusses the potential for extreme job loss as many small businesses are on their last legs.
COVID-19 case numbers are rising in many areas that did not see initial spikes and are expected to rise further throughout the fall with colleges, universities, and other schools opening for the fall semester. This may be a driving factor to the second wave of shutdowns in the United States.
As of now, there is no clear outcome for 2020, but there are many possibilities for what 2021 will hold.
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