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[quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

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

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/[/quote]

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