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Love it or hate it, DC gets to keep raking ya over the coals no matter what the economy does. Nothing is more recession-proof than the Federal behemoth.
Pnw is looking like the west coast epicenter, so they might feel it harder than this report is saying.
NYC is the epicenter on the east coast.
California also fares well in that report.
PNW and the Bay Area share the tech sector, though. While the PNW has a ton of cases, the Bay Area has been on orders to stay home for quite some time now. Neither is great for business. However, if there are very little layoffs in the tech sector, both will do okay for tech as people work from home. But the Bay Area's service sector was already struggling as service employees and middle-class people like teachers were commuting for hours from the CV. So its service sector economy could be more obliterated than in other cities.
NYC is being hit really hard, yes. Our service sector will also suffer. However, the US economy cannot do well without NYC doing well. Plenty of resources will be put into bringing NYC back to where it was. That said, I don't think any city will exist the way we knew them from just a few weeks ago. But I think we can all agree, and I think those in power would agree, that if NYC is not brought back, the US will never return to even close to the same. It's far too powerful to let it slide too far.
Love it or hate it, DC gets to keep raking ya over the coals no matter what the economy does. Nothing is more recession-proof than the Federal behemoth.
In theory, yes. But we've never had an unstable Cheeto as president before whose sole concern is his own power and wealth. He may decide to gut the fed govt as much as possible. Or if we get someone different in 2020, then DC could be propped up.
Also, if other parts of the country fall into Great Depression status, it could be the kickstart needed to disperse fed govt jobs throughout other parts of the country, rather than concentrating them in one location. Towns are struggling may be able to get new fed govt offices/branches. Especially considering this whole pandemic has put us more into the work from home mindset and virtual meetings. Maybe we'll realize that all these fed govt positions don't need to be so close to each other, since it's possible to conduct the same business remotely. By doing it remotely, the fed govt can prop up other struggling economies, as well as probably pay lower salaries on a salary scale if the jobs are moved to lower COL cities.
In theory, yes. But we've never had an unstable Cheeto as president before whose sole concern is his own power and wealth. He may decide to gut the fed govt as much as possible. Or if we get someone different in 2020, then DC could be propped up.
Also, if other parts of the country fall into Great Depression status, it could be the kickstart needed to disperse fed govt jobs throughout other parts of the country, rather than concentrating them in one location. Towns are struggling may be able to get new fed govt offices/branches. Especially considering this whole pandemic has put us more into the work from home mindset and virtual meetings. Maybe we'll realize that all these fed govt positions don't need to be so close to each other, since it's possible to conduct the same business remotely. By doing it remotely, the fed govt can prop up other struggling economies, as well as probably pay lower salaries on a salary scale if the jobs are moved to lower COL cities.
I find that rather unlikely. As much as Donnie Jingles wants to gut the Fed Gov, he really hasn’t been able to do it, and seeing as he’s pushing a massive bill right now, I think he’s lost the will.
As to decentralizing, I find that far-fetched too. The sheer momentum of the bureaucracy would amount to trying to turn an aircraft carrier around using the outboard motor on a bass boat.
SF and Seattle’s biggest companies continue to operate remotely. Heck, Starbucks is making a killing at its drive-thru stores. Cities based more on entertainment are the ones that will get their teeth knocked in from this epidemic.
I find that rather unlikely. As much as Donnie Jingles wants to gut the Fed Gov, he really hasn’t been able to do it, and seeing as he’s pushing a massive bill right now, I think he’s lost the will.
As to decentralizing, I find that far-fetched too. The sheer momentum of the bureaucracy would amount to trying to turn an aircraft carrier around using the outboard motor on a bass boat.
True I guess on that. Seems like he's accepted that without socialism, he loses in November definitely. This socialism he's giving us at least gives him a chance in November. Cutting jobs would ruin his reelection possibility.
I guess that's just wishful thinking. You're probably right. I just wanna have something good come of this lol
True I guess on that. Seems like he's accepted that without socialism, he loses in November definitely. This socialism he's giving us at least gives him a chance in November. Cutting jobs would ruin his reelection possibility.
I guess that's just wishful thinking. You're probably right. I just wanna have something good come of this lol
I can’t blame ya. A lot of us are trying to as well, I think.
SF and Seattle’s biggest companies continue to operate remotely. Heck, Starbucks is making a killing at its drive-thru stores. Cities based more on entertainment are the ones that will get their teeth knocked in from this epidemic.
My brother and mother live in Vegas.... ****s gonna be brutal
SF and Seattle’s biggest companies continue to operate remotely. Heck, Starbucks is making a killing at its drive-thru stores. Cities based more on entertainment are the ones that will get their teeth knocked in from this epidemic.
If this all clears up soon then I think most cities will recover in a short period of time. If this is the norm for 4 months, then we have a problem...
Cities depended on one industry will feel it worse. I also wonder about Atlanta since Delta is such a huge part of the economy there, there airline are sadly going down the toilet if something doesn't change.
Regardless, EVERY American city is going to feel a major burn to the retail, hospitality, service and restaurant industry, which is the very sad part. I know so many restaurants, bakeries, furniture, stores, etc. that are barely hanging on and its only been a week of lockdown.
I think the effects of this are going to be bad for every city in every part of the country, this is different than a traditional financial recession, and an event like this hasn't happened in over 100 years...
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