He sees other indications of a slower recovery maybe 3 years till it bounces back.
Australia's All Ords (like the US Dow) only recovered from the 2008 GFC in... wait for it... 2019!
And is now back to what it was in 2006.
Theres a few takaways:
It *can* take longer than we think.
The USA can't just stay in industrial lockdown till every Doctor's case load is Zero
What happens in the USA really does affect the whole world. Every country/state/principality...
Then the USA sneezes the rest of the world catches cold
A 'western' country cannot do things like some countries can: Seal of cities; weld apartment doors shut with residents inside; Order factories to reopen even at high risk to employees; do politics are gun point. For petes sake the USA can't even lock down Rhode Island!!
It may take longer than China... and every day China will be using this advantage, as any competitor would.
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