I disagree - we had a long bull run and that overvalued businesses. However, it would have been a correction in market valuation, not a recession. COVID did bring the correction upon us sooner, but it brought about more than a correction. That is why the next bull run will pick up fairly sooner.
Additionally, big companies will have to get bailed out because they are crucial to the economy and aid in employment. Rich people did not get richer from stocks, people who hedged their positions did.
In my opinion, the Canadian government will not be the one spurring the speedy recovery, it will be the Canadian consumer. As consumption is highly restricted now, economy is in a spiral. Once consumption picks up, employment numbers will go up, GDP will go up, investor confidence will go up and we will be on an upward trajectory again.
The biggest caveat is that they find a way to keep the virus numbers under control and instill confidence in people to go to work and go out.
