I think one compensating factor is that for many people expenses can fall dramatically. And again I say for most people.
Strip out discretionary items such as restaurants, Starbucks, entertainment, ordering amazon stuff, buying clothes, buying just about anything actually, holidays - a lot of spending will just naturally disappear if we go into a lock-down.
Now of course my lack of spending is someone else's lack of income....
The whole world just needs to have a 3 week total lock-down, everyone together at the same time.