Yippie. Any plans you had in life can now be put off 10-20 years.
Having kids, buying a house, starting a business, finally retiring, etc ... lol forget it.
Yippie. Any plans you had in life can now be put off 10-20 years.
Having kids, buying a house, starting a business, finally retiring, etc ... lol forget it.
Are you working remotely?
Eh... not to diminish this, but I think you forgot to read the last paragraph:
"The one potential bright side is the likelihood that the downturn could be comparatively brief.
During a CNBC interview last week, Bullard said the jobless number “will be unparalleled, but don’t get discouraged. This is a special quarter, and once the virus goes away and if we play our cards right and keep everything intact, then everyone will go back to work and everything will be fine.”
Ultimately this downturn will be really bad for a huge amount of people who will lose their jobs or see their business put into really rough shape. There is hope that it doesn't define the next 10-20 years and wreck the economy long-term.
Everything jumps right into place after this 2 month lockdown.
It's kind of silly to think that everything stops just because of a 2 month break.
People still need stuff and want to go to restaurants.
But if everybody gets evicted just because they didn't pay rent for these two month, we might have a huge problem.
Maybe it's time for the pitchforks.
Time for the pitchforks wrote:
Everything jumps right into place after this 2 month lockdown.
It's kind of silly to think that everything stops just because of a 2 month break.
This is the first time in history that we've literally tuned off the economy. Why would we assume that it can magically be turned back on?
"Oops."
Because there will be a great deal of pent up demand and retailers, auto manufacturers, contractors, appliance makers, etc. will be offering massive incentives for consumers to buy their wares and services. Most of these "lost" jobs are service jobs (restaurant workers, housekeepers, retail workers, factory workers, etc.) that will be needed when things re-open. The economy is being turned off due to a pandemic. This isn't Great Depression conditions or even the bad loans that precipitated the 2008/2009 financial crisis. This is a very artificial stop to economic activity.
Will some establishments never re-open? Yes. Did we have too many restaurants, hotels, retailers, and other frivolous ways to waste money? Of course. This may have created a much need culling of that herd and may force a fundamental re-set of how we do business and how individual's spend discretionary income.
Calm down, Jamin! For someone that complains about media driven hyperbole, you sure seem to fall for it and traffic in it.
By the way, could you tell me which Seattle area hospital that you claimed had loads of empty beds and was laying off large swaths of staff? I brought that up with some some folks from varied PNW healthcare organizations on a conference call this morning and they all laughed.
Time for the pitchforks wrote:
But if everybody gets evicted just because they didn't pay rent for these two month, we might have a huge problem.
This. Where I'm at eviction courts are closed. I am a landlord. I would think that the administration needs to defer mortgage payments because tenants are just going to stop paying. I'm fine with not receiving money. I'm fine with not evicting people. Landlords aren't heartless, however, we can't be subsidizing other people to live for free, longterm, in violation of their contract without the government offering some kind of reprieve.
jamin wrote:
Time for the pitchforks wrote:
Everything jumps right into place after this 2 month lockdown.
It's kind of silly to think that everything stops just because of a 2 month break.
This is the first time in history that we've literally tuned off the economy. Why would we assume that it can magically be turned back on?
"Oops."
You are a disgusting person.
"Oops."
jamin wrote:
Time for the pitchforks wrote:
Everything jumps right into place after this 2 month lockdown.
It's kind of silly to think that everything stops just because of a 2 month break.
This is the first time in history that we've literally tuned off the economy. Why would we assume that it can magically be turned back on?
"Oops."
Yes. It's reckless, unbelievably so. Criminally so. The state governors who made these brash decisions on the advice of selected medics and noone else should be recalled and jailed.
2,600
It’s not going to bounce as quickly as some think.
There will be some long term damage.
Are you on Team Biden now?
jamin wrote:
Yippie. Any plans you had in life can now be put off 10-20 years.
Having kids, buying a house, starting a business, finally retiring, etc ... lol forget it.
Actually it was supposed to be 100 million unemployed, until POTUS intervened and saved 53 million jobs.
Thank you Mr President!
Yes. Cutting off the nose to spite the face.
Thanks for tanking the economy POTUS. I'll be looking at my 401k come November.
jamin wrote:
Yippie. Any plans you had in life can now be put off 10-20 years.
Having kids, buying a house, starting a business, finally retiring, etc ... lol forget it.
Sounds as though it's not going to change your life.
X-Runner wrote:
It’s not going to bounce as quickly as some think.
There will be some long term damage.
I agree that it won’t be a quick v shaped recovery as a market as a whole. However, I think the strong and in demand companies are going to come out of this even stronger and going to be surging.
I know many are going to disagree, but I am betting big on Tesla. I think the well off people and upper end middle class people are going to be buying more and EVs are going to be accelerating even faster than ever before. Also, with people seeing how much less pollution there are now with everything shut down, people are going to see more of a benefit to be driving EV.
Also, with Tesla, they’re building an entire ecosystem like what Apple or MSFT does with all apps and integration with their cars as well as solar power for homes.
Got get that volatility going. Pump and dump, slam and jam.
jamin wrote:
Why would we assume that it can magically be turned back on?
"Oops."
Because people are going to want to go back to living life as usual, going out to eat, etc. In fact they'll be more eager to until the next media hyped virus.
agree maybe wrote:
I know many are going to disagree, but I am betting big on Tesla. I think the well off people and upper end middle class people are going to be buying more and EVs are going to be accelerating even faster than ever before.
I agree, Tesla will rule. There will be a strong incentive to go electric, especially with gasoline being given away for free.
https://www.bloomberg.com/news/articles/2020-03-19/the-idea-of-negative-oil-prices-is-more-realistic-than-you-think