The only way for anybody to have any good jobs at all is for millions to have none, and/or have nothing resembling formerly respectable pay.

And it's got to last years or there will be no recovery for shareholders from what they've already suffered with a stagnant economy.

In the 1970's it ended up 10x this bad or worse, in most technical fields at the time as well as non-tech.

There was nothing else that could be done except recognize it was a crap shoot.

There will be plenty of millions who do not lose their jobs, some will not even lose much momentum. There will be nowhere else for the "new normal" to coalesce around, after nothing else resembles the old normal for so long.

As before, only the relatively unscathed will write the economic history of these years, and many less-fortunate millions are slated to be forgotten.

The only other alternative is for everybody to take a steep pay cut, and all upwardly-mobile climbers to halt all momentum. What are the odds that could happen this time?

And that still wouldn't allow hiring as many early-career professionals as there will be available for quite some time to come.

Don't worry, employment is not where all the negative outcomes will affect future generations . . .