The coronavirus impact adds to an already weak and bloated global economy that was showing poor growth, high debt, and an evidently disappointing earnings season before any epidemic was included in estimates.
In It's a Wonderful Life, George Bailey was right to oppose Old Man Potter. Potter's fondness for the draft board and his attempt to use the DA to crush his adversary shows Potter had little regard for truly voluntary exchange.
Many modern economists think the standard for a "good" economic theory is how well it predicts future trends. Not only are most economists terrible at making predictions, but the whole premise of economics as being about predicting things is a flawed idea.