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I hate to be the Negative Nelson here (or Captain Obvious, perhaps), but I think 7-figure job loss reports are inevitable at this point. 2008-09 was a rather slow descent that resulted in massive layoffs starting in January 2009. This is the world's economy crumpling right before our eyes.
I hate to be the Negative Nelson here (or Captain Obvious, perhaps), but I think 7-figure job loss reports are inevitable at this point. 2008-09 was a rather slow descent that resulted in massive layoffs starting in January 2009. This is the world's economy crumpling right before our eyes.
Yep. There is absolutely no stopping it at this point. Until numbers level off in Europe and the US, the economy will continue falling, but it's fallen off a cliff very suddenly at this point. We need basically a worldwide lockdown IMO. What's the point of all these countries being on lockdowns if another country is heavily infected and doesn't control the outbreak, and then the reinfect a country like Italy all over again?
I hate to be the Negative Nelson here (or Captain Obvious, perhaps), but I think 7-figure job loss reports are inevitable at this point. 2008-09 was a rather slow descent that resulted in massive layoffs starting in January 2009. This is the world's economy crumpling right before our eyes.
Yeah, no amount of stimulus can get people to spend money if they can't physically go spend it. But on the bright side, for everyone scared of automation, yes it still turns out you need people to go out and do things. Not nearly everything can be automated.
ND, SD, MT, WY. Much of the northern mountain west and NW Midwest.
Oh and ME and WV.
Really though... wherever there are less people around you. However, unless you have prepared for this.... the effects of the virus will be felt EVERYWHERE.
Yeah, no amount of stimulus can get people to spend money if they can't physically go spend it. But on the bright side, for everyone scared of automation, yes it still turns out you need people to go out and do things. Not nearly everything can be automated.
I don't even understand the point of issuing $1,000 checks. Sure, for the poorest Americans, that can make a difference, but the median rent in the U.S. (according to the Census) is $982. It makes you wonder if working out an arrangement with banks to suspend mortgages for three months would be a better use of resources.
I don't even understand the point of issuing $1,000 checks. Sure, for the poorest Americans, that can make a difference, but the median rent in the U.S. (according to the Census) is $982. It makes you wonder if working out an arrangement with banks to suspend mortgages for three months would be a better use of resources.
Yeah, I mean in many cities in the country, evictions are already been halted until the end of April, but honestly, suspending student loan payments and suspending mortgage payments (like what they did in Italy) might not only become necessary, but just common sense.
And since the interest rate is already at 0% and most likely, for the first time ever, go into negative interest, instead of bailing out businesses that can simply borrow money at dirt cheap rates to stay afloat, but that towards actual testing kits.
It's crazy how much the federal government has lagged on all this. Like they're still somewhat in a stage of denial on what this really is. This isn't like 2008-2009 at all, where that was terrible banking and economic policy. This isn't a "man made" recession. This is an act of God sort of thing. Can't stimulate an economy that doesn't currently exist if people physically can't even go outside under fear of a very real virus.
I don't even understand the point of issuing $1,000 checks. Sure, for the poorest Americans, that can make a difference, but the median rent in the U.S. (according to the Census) is $982. It makes you wonder if working out an arrangement with banks to suspend mortgages for three months would be a better use of resources.
Direct stimulus payments will be on top of other measures being put in place to protect consumers, e.g., suspension of evictions, no suspension of utilities for non-payment, etc. And with all of the money being funneled to key industries, I wouldn't doubt that a suspension of mortgages and other financial obligations would also happen. I don't see it being either/or.
I don't even understand the point of issuing $1,000 checks. Sure, for the poorest Americans, that can make a difference, but the median rent in the U.S. (according to the Census) is $982. It makes you wonder if working out an arrangement with banks to suspend mortgages for three months would be a better use of resources.
It makes you wonder if working out an arrangement with banks to suspend mortgages for three months would be a better use of resources.
But interest still accrues since it's not a payment.
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