For the ad market, this involves executive decisions not only from political leaders but also from leaders in media, sports and the entertainment industry which are supported by advertising. Imagine if one NFL player tests positive mid-season (on a team of 100+ players and staff). In March, the NBA shut down (at least temporarily).
But more than that, it involves what’s happening to people. Let’s start there.
The economy was chugging along with low unemployment, moderate under-employment, strong markets and a huge -- staggering -- amount of consumer debt. Although dated, a MarketWatch summary of a Marquette Associates analysis from 2019 demonstrates the reality: debt is growing and many economists have been very worried about it for years. (Many in the medical community had been worried about a global pandemic, too.)