What is the future of our biggest cities?

For those still dreaming on a cloud that the economy is fine, please read this BBC article and especially watch the video. Sadly, the media has given very little coverage to the economic facts and I fear this will continue for a few more months to come.

I have visited London twice very recently and I was shocked at seeing how completely empty my train from Plymouth to Paddington was. I was traveling at peak time and yet there were only 3 other people in my carriage and it was the same for my return journey.

Upon arriving at Paddington, I was saddened to see a nearly deserted station with many small shops still closed and boarded up.

I asked a black cabby how much he had been affected and he told me that some black cabs were down an incredible 90% ?? as they relied so much on tourism and office workers.

In many central London tourist areas, pubs are still closing at 9:30 pm as they lack the trade from office workers and tourists.

The bar that I visited for my meeting told us they would be closing at 9 pm.

Normally places that were Incredibly busy all the time such as Covent gardens and Leicester square just felt broken and very eerie. Don't get me wrong, there are some parts that are still very busy, but normally London thrives everywhere you go.

With COVID 19 cases seemingly on the increase again across Europe and the world, one has to conclude that the economic fall out from this crisis is going to be long and painful, especially for those businesses living or working in our biggest cities like London.

My own prediction based on pure economic facts is that we are going to witness the biggest insolvency event in history, starting from Q4 2020 and continuing at pace in 2021. The economic fallout from this crisis is going to be massive and affect everyone.

https://www.bbc.co.uk/news/business-53925917