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An important claim. At @JohnsHopkins Economics , we had a zoom discussion. Some of my colleagues argued that intangible capital (such as employee and employer relationships) has been destroyed in recent months. Some argued a demand side explanation against the "V" recovery. https://twitter.com/caseybmulligan/status/1274383497721978881
I tend to avoid macroeconomic discussions (since I quit the field in 1988!) but I argued that the nation's overall economic fundamentals continue to be quite strong (in absolute and relative terms as compared to other nations). Consumer confidence is a key variable here. (1/2).
The real options approach teaches us that during times of uncertainty it is wise to delay decisions as we wait to learn. Car buyers, and home buyers are examples of such key consumers. If we all wait right now, then the Keynesian "paradox of thrift" arises and no "V" emerges.
While the nation's poverty challenge is real and this creates an imperative to enact the ideas embodied at http://www.heckmanequation.org , the nation's overall education level, innovation, tax code and access to finance and rules of law create the possibility of a sharp "V".
