Second Great Depression

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are two main considerations in the U.S. response to coronavirus. One is public health. The other is economic. The U.S. is currently focusing entirely on public health. As a result, the economic devastation will be enormous.

Exactly. But what no one is accounting for is that economic devastation takes a huge toll on public health. We are saving old/sick people and in turn sacrificing the futures & health of the young and able.

The virus is affecting those 30-44 in severe ways. It’s less likely to kill them but many will have damaged lungs and organs. Are you interested in paying then disability for the rest of their lives?

[Anonymous]

Anonymous wrote:I don't think people understand the magnitude of what is coming as a result of the pandemic.

Businesses large and small are in debt to their necks. Without cash flow, they will go bankrupt. We are about to see a huge wave of bankruptcies and massive layoffs.

One of the signs of this is that both stocks and bonds are selling off at the same time. That means people are not shifting money from stocks to bonds for safety, they are instead trying to liquidate all their investments (even at a loss) and raise cash as fast as possible to pay off debt. This will only work in the short term. If the economy is still halted months from now, bankruptcy is the only option. Jobless claims are already exploding, and a thousand bucks per American from the federal government won't make up the difference.

The government is preparing bailouts, but they can't bail out every industry. The nation can't afford it because our government is also deeply in debt. We are now adding trillions to the national debt in a matter of weeks while facing a fiscal cliff due to lack of tax revenue. The federal government's fiscal situation was already precarious, and this may tip it into our country's first default.

The only thing that will really help is a vaccine, and soon. Otherwise we are looking at an extended period of economic devastation. We will be lucky if it only lasts a few years.

Yeah, stop posting this everything. Things will go down but you’re basically just fearmongering shit

[Anonymous]

Effective treatment will help long before a vaccine is ready. Once the severe cases no longer need vents and people feel confident they can be treated, the fear of catching the virus goes down.

[Anonymous]

Anonymous wrote:The checks are only for folks who earned under 95k last year

Per individual person or combined HHI?

[Anonymous]

Yet meanwhile in China, CCP is booting that the Chinese economy is on track to meet their annual growth goal of 6%, LOL.

[Anonymous]

Up up up....It’s never enough, even 30% gain is not enough for many of us. Like Michael Douglas said “greed is good”. Folks this is not sustainable. Today many people who are unemployed is the direct result of our relentless quest for growth. I am an aerospace engineer and if this continues my job is probably at risk. However I am so blessed compared to the hourly wage worker who we claim to have compassion for yet we keep screwing over with policies that benefit us and not them. I grew up very poor, went to a very bad high school with terrible graduation rates.

I don’t think this will be another Great Depression. But you can forget the type of return you have been earning in the market. I simply will NOT believe those who are telling us that things will return to normal. Do you know how much debt these corporations are carrying? It’s scary....

[Anonymous]

Anonymous wrote:Yet meanwhile in China, CCP is booting that the Chinese economy is on track to meet their annual growth goal of 6%, LOL.

Not so sure we can trust China. Weren't they caught fibbing about the Corona numbers, and then kicked out a bunch of US journalists?

[Anonymous]

Anonymous wrote:Yet meanwhile in China, CCP is booting that the Chinese economy is on track to meet their annual growth goal of 6%, LOL.

Lol if you actually believe CCP and their 0 corona virus numbers. They're just positioning themselves so that when the outbreak reappears due to hidden reservoirs in their population or population that's still infect that they're not reporting they can blame the infection on the West. China is desperate to shed the title 'Chinese' Virus in the history books.

[Anonymous]

According to this article it's time to buy soon..

https://www.marketwatch.com/story/market-behavior-a-century-ago-suggests-the-worst-could-be-over-for-stocks-if-not-for-the-coronavirus-pandemic-2020-03-19

[Anonymous]

Anonymous wrote:According to this article it's time to buy soon..

https://www.marketwatch.com/story/market-behavior-a-century-ago-suggests-the-worst-could-be-over-for-stocks-if-not-for-the-coronavirus-pandemic-2020-03-19

Thanks, but there were multiple articles a year ago that said to sell stocks. Stock market posted about 25% returns soon there after. There are so many people trying to time the market that I now understand why a lot of people shouldn't be investing in stocks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't think people understand the magnitude of what is coming as a result of the pandemic.

Businesses large and small are in debt to their necks. Without cash flow, they will go bankrupt. We are about to see a huge wave of bankruptcies and massive layoffs.

One of the signs of this is that both stocks and bonds are selling off at the same time. That means people are not shifting money from stocks to bonds for safety, they are instead trying to liquidate all their investments (even at a loss) and raise cash as fast as possible to pay off debt. This will only work in the short term. If the economy is still halted months from now, bankruptcy is the only option. Jobless claims are already exploding, and a thousand bucks per American from the federal government won't make up the difference.

The government is preparing bailouts, but they can't bail out every industry. The nation can't afford it because our government is also deeply in debt. We are now adding trillions to the national debt in a matter of weeks while facing a fiscal cliff due to lack of tax revenue. The federal government's fiscal situation was already precarious, and this may tip it into our country's first default.

The only thing that will really help is a vaccine, and soon. Otherwise we are looking at an extended period of economic devastation. We will be lucky if it only lasts a few years.

Yeah, stop posting this everything. Things will go down but you’re basically just fearmongering shit

I hear you complaining, but not explaining why this take is wrong. Meanwhile evidence piles up that this is going to be really bad: https://www.washingtonpost.com/business/2020/03/20/us-economy-deteriorating-faster-than-anticipated-80-million-americans-forced-stay-home/

[Anonymous]

No. I do not think there will be a great depression. There will be a temporary hit for 1 or 2 years, but the world will rally after that.
Mainly because this is quarantining in place for a disease that is not killing like Black Death. Once a vaccine is formulated world will rally back very quickly.

If Govt helps out individuals (instead of industries) and every one goes in a frozen/holding pattern, we will be fine.

I do think that some industries will go down and some other industries will come up.

This is not a weather related disaster. We are not in the shoes of Puerto Rico after the Hurricane hit and Trump did not help. We are still sheltering in place with our families, in air conditioned homes, with wifi and food. This is basically...a vacation for many.

[Anonymous]

The lack of leadership from this "administration" is astounding. It's a flipping free for all at best.

Thank GOD for Dr. Fauci - even he looked like he wanted to puke today after that asshat "spoke." What an ever loving buffon, Trump is! Anyone who still supports him has to have their head seriously examined.

[Anonymous]

Anonymous wrote:No. I do not think there will be a great depression. There will be a temporary hit for 1 or 2 years, but the world will rally after that.
Mainly because this is quarantining in place for a disease that is not killing like Black Death. Once a vaccine is formulated world will rally back very quickly.

If Govt helps out individuals (instead of industries) and every one goes in a frozen/holding pattern, we will be fine.

I do think that some industries will go down and some other industries will come up.

This is not a weather related disaster. We are not in the shoes of Puerto Rico after the Hurricane hit and Trump did not help. We are still sheltering in place with our families, in air conditioned homes, with wifi and food. This is basically...a vacation for many.

Is this how your family takes vacations?

[Anonymous]

Anonymous wrote:

Anonymous wrote:No. I do not think there will be a great depression. There will be a temporary hit for 1 or 2 years, but the world will rally after that.
Mainly because this is quarantining in place for a disease that is not killing like Black Death. Once a vaccine is formulated world will rally back very quickly.

If Govt helps out individuals (instead of industries) and every one goes in a frozen/holding pattern, we will be fine.

I do think that some industries will go down and some other industries will come up.

This is not a weather related disaster. We are not in the shoes of Puerto Rico after the Hurricane hit and Trump did not help. We are still sheltering in place with our families, in air conditioned homes, with wifi and food. This is basically...a vacation for many.

Is this how your family takes vacations?

Seriously, I am getting tired of reading emails from friends who are at home either enjoying themselves or being "bored." I am neither, because I am highly stressed by the fact that I have no income coming in and, as an independent contractor, I don't qualify for unemployment.

Also, yes, absolutely we will have another Great Depression. So many people and companies and governments have been living on the edge.