We've reported on the number of people of small business owners who don't think they'll survive, the increasing number of over-leveraged zombie companies, and the tsunami of defaults and bankruptcies on the horizon. Yes, we have seen some economic numbers that are better than expected, but it's all a function of a Federal Reserve-induced sugar high. The ugly truth is that given the amount of stimulus that the Federal Reserve and the US government have pumped into the economy, unwinding it all will be mission impossible. All of this certainly raises serious questions about the possibility of a "v-shaped" recovery.

We're not alone in making this case. In the following article recently published at the Mises Wire, economist Brendan Brown provides some additional arguments and asserts  that even if COVID-19 disappeared today, the economy isn't going back to "normal."