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You're both free to believe whatever you like, but I would encourage you to think critically and dyor. If you actually look into the numbers, this virus has been greatly exaggerated. The MSM and our glorious leaders are blatantly lying to you and you lap it up despite being able to find the truth yourself.
No, I don't need your encouragement or conspiracy theories. But thank you anyway. Also I don't follow politics.
You missed my previous question - any info on the long-term effects Doc?
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That is my view ...money loves a vacuum ...new business’s will rise out of The ashes and anywhere weakness is shown to be in what is needed someone will fill the gap .
I think we may see more in shifting tastes than losses ....
I know we spent the travel money we had not used on new lenses recently for the cameras ..others are staying local and spending rather than travel .
All in all I don’t think we will have a long recovery unless people get stupid and reinfect everyone again
My impression is the same. The economy has been constantly trying to get back even this past month, still in the middle of the epidemic. The number of new jobs last month was twice what was expected, and the market is less than 15% down from the highest peak ever. There is one single thing the economy needs (and that most people need): the vaccine. A huge amount of work and funding has gone into expediting development of vaccine, the information in the news looks extremely encouraging, and chances are that we'll have at least one pretty good vaccine, probably several, by the late fall.
"The looming NYC recession" in the title of this thread, however, has multiple other roots. National economy will recover alright, but NYC has certain additional fiscal problems :-).
Nations economy will rebound far faster than NYC metro IMO. So many NYC jobs are people facing (nightlife or hospitality related) and in a covid world, that is a weakness , not a strength. The wfh jobs are an asset in a covid world. NYC loses on those, as hundreds of thousands work from home in NJ and CT, instead of spending money on breakfast, lunch, and on rides, in NYC M-F.
That is my view ...money loves a vacuum ...new business’s will rise out of The ashes and anywhere weakness is shown to be in what is needed someone will fill the gap .
I think we may see more in shifting tastes than losses ....
I know we spent the travel money we had not used on new lenses recently for the cameras ..others are staying local and spending rather than travel .
All in all I don’t think we will have a long recovery unless people get stupid and reinfect everyone again
The jobs that REALLY drive NYC are finance, media, increasingly tech, biomedical, law, and other high end white collar. Those will come back. Most of the nightlife and hospitality jobs are bottom feeders, that take the money generated by the people working the first batch of jobs I stated.
Quote:
Originally Posted by BobNJ1960
Nations economy will rebound far faster than NYC metro IMO. So many NYC jobs are people facing (nightlife or hospitality related) and in a covid world, that is a weakness , not a strength. The wfh jobs are an asset in a covid world. NYC loses on those, as hundreds of thousands work from home in NJ and CT, instead of spending money on breakfast, lunch, and on rides, in NYC M-F.
The jobs that REALLY drive NYC are finance, media, increasingly tech, biomedical, law, and other high end white collar. Those will come back. Most of the nightlife and hospitality jobs are bottom feeders, that take the money generated by the people working the first batch of jobs I stated.
Most of those jobs were not affected by COVID19. I don't know anybody laid off since. People who actually lost jobs are retail jobs. I was just speaking with someone who closed down their boutique recently in soho. He is in the process of selling all his merchandise.
From what I hear is that depending on how severe the cases are this winter. That will be the line that most companies will use to determine the fate of operating in NYC. No company will keep million $ offices empty forever. There's no memo telling workers to return to office anytime soon.
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