Similar voluntary spending curbs have happened in Sweden... without govt compulsion
"A Danish study released earlier this week revealed that Danish consumers in lockdown conditions similar to those
in Australia and elsewhere around the world
reduced their spending by 29 per cent. In Sweden with no mandated lockdown, it was 25 per cent.
On NHK news just now they reported that sales at the two major department stores are off by 80% and 95%. The stores were not closed as far as I know. There was a lockdown for a while, but it was not followed very seriously. In many parts of the country, it was ignored. So, people are reducing their spending whether there is a lockdown or not. No doubt the lockdown is causing economic problems. But it is not causing all of the problems, and ending the lockdown will not solve those problems. If the lockdown is ended without safeguards, that will surely make the economy worse.
As I said, traffic at the Atlanta airport is down 95%. This is the busiest airport in the world. Most of the traffic is in the U.S., not international. There was never any ban on travelling in the U.S. No lockdown of any sort. But, 95% of people decided on their own not to travel. Including me. No government mandate forced me, and there is no way I will get back on an airplane no matter what Trump or our nitwit governor Kemp says. I would no more do that than take a cruise ship! So, you cannot blame government mandates for destroying the air travel business by interfering in our freedom to travel. You can blame the government because it has done nothing to contain the virus. It could have easily contained the disease, and kept total deaths to a few thousand. It could have done that for a tiny fraction of what it has spent bailing out airlines. But the leaders decided not to do that, because they are idiots. They will not spend a few billion dollars to avoid losing $3 trillion, and 150,000 lives.