California Business Closures and Job Loss tracking thread (Corona, Santa Monica: oil, basement)

[CaliRestoration]

Originally Posted by HereOnMars

smh

That's what I thought. Moving on.

[Tulemutt]

Originally Posted by HereOnMars

smh

No kidding ...

[tikkasf]

I would be interested to see posting thread listing of possible covid 19 treatments or vaccine research by educational institutions & biotech companies in CA. Heard on the news last night, Stanford has started a study of a possible treatment option. Perhaps, the individual who started this posting thread, can lets us know to this subject, what is going on in the state he ran off to.

[aslowdodge]

Originally Posted by HereOnMars

Of course, people should always face the truth. Hiding your head in the sand can and will be very detrimental. I just don't see how it's vital to point out weakness in the state at this very moment. We already know we're facing a huge financial loss and there's a lot of information our state is hiding. Not sure if it's to protect us or them but right now I don't care. I'm just trying to do what everyone else is and that's stay safe.

I'm shocked that you would think I'm not an honest person. Wow.

I get what you are saying, but remember you always have 18 Montclair posting constantly how great and powerful California is so maybe it all balances out? Isn’t it good to see both side of the fence?
Besides, according to 18montclair, none of this is the states fault, it’s trumps fault.

[CaliRestoration]

https://www.latimes.com/entertainmen...hs-coronavirus

Hollywood Bowl cancels rest of 2020 events. Lays off nearly 70% of staff (226 jobs).

[CaliRestoration]

Originally Posted by aslowdodge

I get what you are saying, but remember you always have 18 Montclair posting constantly how great and powerful California is so maybe it all balances out? Isn’t it good to see both side of the fence?
Besides, according to 18montclair, none of this is the states fault, it’s trumps fault.

California is going to hit 5 million unemployment claims this month, and 40% of small businesses in California are predicted to disappear permenantly before the Summer is over.

But according to some people in this forum, "California job market least affected by Covid-19".

It's no longer "balancing out" viewpoints, it's literally the TRUTH vs straight up lying.

[Mike930]

Originally Posted by CaliRestoration

California is going to hit 5 million unemployment claims this month, and 40% of small businesses in California are predicted to disappear permenantly before the Summer is over.

But according to some people in this forum, "California job market least affected by Covid-19".

It's no longer "balancing out" viewpoints, it's literally the TRUTH vs straight up lying.

You should send your laughing emoji to WalletHub. They’re the ones that made the list. I’d put more credibility in them than some guy posting from his mom’s basement.

I think the prudent thing to do is take your posts and discount them by 75%.

[aslowdodge]

What's amusing is all the deflection going on. Of course other states are going through the same thing, but that doesn't change the fact that California is too. It's almost as if some people think that by saying other states have business closures it minimizes what's happening in California. As far as sources, while they all may have different numbers, the fact is it's happening. Making light of one source doesn't change what is happening.

Exactly who is posting from their basement? How do we know that wallet hub isn't posting from their basements in home offices during the lock down. Does it now make them any more or less credible?

[CaliRestoration]

Originally Posted by Mike930

You should send your laughing emoji to WalletHub. They’re the ones that made the list.

Yeah, all the most successful investors and analysts get their accurate employment claims numbers and business closure notices from "WalletHub".

[CaliRestoration]

Originally Posted by aslowdodge

What's amusing is all the deflection going on. Of course other states are going through the same thing, but that doesn't change the fact that California is too. It's almost as if some people think that by saying other states have business closures it minimizes what's happening in California. As far as sources, while they all may have different numbers, the fact is it's happening. Making light of one source doesn't change what is happening.

Exactly who is posting from their basement? How do we know that wallet hub isn't posting from their basements in home offices during the lock down. Does it now make them any more or less credible?

Let's be honest, it's deflection to avoid the truth. This is what most people do when confronted with information they don't like, but they know to be true; deflect, deflect, deflect.

Personally I don't consume "headlines", as a former business owner and current investor, I consume numbers.

There's no way you can say "California has weathered Newsom's state lockdown" when EDD is reporting that Employment claims are nearing 5 million claims. To put this in context, as of May 2nd (the most recent national numbers) the total unemployment claims hovered slightly under 23 million claims.

So California makes up 21% of all unemployment claims in the country.

So either California's very own Employment Development Department is selling lies, or some two-bit blogger at WalletHub is selling crap. Hmm, I wonder which one I would bet my money on.

The worst part is we're not even calculating the gig economy workers in California that are still transitioning to full-time W2 work due to Democrats basically eliminating contractors at various levels of the economy, or even out of the job market completely (that pesky participation rate). Because the majority of them aren't eligible to claim Unemployment Insurance, you naturally cannot track "unemployment claims".

With approximately 5.4 million gig workers suddenly losing "gig income" this year, one has to wonder how many actually made any sort of successful transition to 9-5 work before Covid-19 struck.

But whatever!

I only became a multi-millionaire many times over , completely fun-employed, never having to work again, (exchanging Ferrari buying tips with my buddy over here), just by making decisions based on basic inductive reasoning, utilizing data, and a little elbow grease. All this time I should've been reading WalletHub for true analysis and data.