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You do realize that the vast majority of hospitals never received a single case and have been laying off there staff right?
That is because you are talking about one, it was to reduce headcounts to slow the virus; two, largely hospitals dealing with putting off elective surgeries; hospital systems already in the red; and/or four, part of the Trump plan to cover paying Covid-19 patients
Apparently, the casino's in Macau are up and running, so Vegas should keep their eye on Macau to see what should be done, can't be done. Gambling has been on the decline for some time now, as the Millennials seem to have no interest in it. When I left Vegas 2 years ago it was estimated that only 1 out of 4 come to Vegas to gamble anymore, thus, the casino moguls had to do whatever to cater to this Millennial generation, opening up multi-million dollar nightclubs up and down the Strip, and some hotels now don't even have any slot machines like the Delano.
Las Vegas had a big wake-up call in 2008-2009, vowing to diversify their economy, become less dependent on conventioneers/tourists, but I haven't seen any good results come out of that. Perhaps this time, they'll work extra hard at diversifying.
Post Covid, all dependent on whether a vaccine comes along or not.
Using Delano is a rather bad example. Delano is the old TheHOTEL at Mandalay Bay, the luxury suite hotel within Mandalay Bay (which has a casino.) That is like using the Wynn Encore, The Signature at MGM Grand or other hotels within a hotel that exist in Vegas.
I am a millennial and so are my brother and sister-in-law and we all live Vegas. Typically we stay at Excalibur and just go resort and casino hop. I like it for the $5/10 minimum bet blackjack.
Famine? No. But many many businesses will close. That means massive unemployment. That will take years of recovery. My biggest concern is the debt level. Something could trigger bank failures like massive bankrupcies because so many cant repay their loans. At this point I'm between Greatest Depression and total global economic colapse. People are afraid of their own shaddow right now and I dont see that changing.
No Idea ....but we all see the same thing playing out down the road ...but there is always something taking what we all think, and flipping the outcomes we think are a given ...it is to the point I don’t even want to get started in another discussion of what will be since nooooo one knows what will be.
If the smartest people on the planet in the field of economics can’t predict What will be ,no amateur armchair economist wanna be has the inside track either
Do you think the fall from 29,000 to 24000 have brought back the shares to fair value?? except a few like tesla, amzn, goog, appl etc???
Will it be a short recession and then a v shaped recovery? Or are we dealing with a global economic collapse? What do you think?
I went with "other" because I expect some sectors of the economy to grow while others shrink. At minimum, companies like Amazon have much higher demand, and the healthcare industry might make huge profits (unless the government caps drug/vaccine prices). But industries related to tourism and travel are facing a wave of bankruptcies and/or bailouts.
Do you think the fall from 29,000 to 24000 have brought back the shares to fair value?? except a few like tesla, amzn, goog, appl etc???
No idea ,...I am not even sure how you decide on what something is worth in a zero rate environment when you need to consider alternatives .....in 1982 p/es doubled from 8 to 16 in a year ...that was incredibly high with double digit rates ......who would have guessed it was the start of the greatest bull in history ....
In short , don’t know ,,don’t care ...I have a portfolio that can handle whatever comes down... there is no telling what is next .....
Will it be a short recession and then a v shaped recovery? Or are we dealing with a global economic collapse? What do you think?
I think it's between a great recession and depression. All the chaos created by current world leaders who feared losing their national identity due to globalism, are responsible. I fully expected this bs to happen--meaning a return to the 1930s. Things should get better but, key nations will have to elect the right leaders that are going to work together to pull us out of this mess. The Park Avenue Hill*****s are not the answer.
No inside track but truthfully the economy will have to get going because this isn’t gonna work forever. Getting to the point where trampling on people’s rights is getting a few riled up. . People are going to start opening their businesses again. My wife’s hair dresser flipped off our governor and city council and opened her business. Funny thing is she broke NO laws. They can’t close her down. Restaurants and shopping places will have to reevaluate seating and distancing. There most likely will be a lot more disinfecting and cleaning. Most likely having to wear gloves and masks will be the norm rather than the exception when put in public. More health temp are you feeling good enough to come to work. Most likely companies will have to provide a sick day pay compensation or state funded sick with CV19 test positive stay home pay like unemployment called virus supplement
I don't know. But I do know this global pandemic has had some serious consequences so far, and those consequences will be felt for a long time.
I thought there would be a recession coming, anyway, because I'd read some numbers, seen some comments by experts, and we'd had that super long bull market. So the virus on top of what may have happened anyway, seems likely to be very bad news. But who knows. I sure don't.
I'm also concerned that it's not over, AND we might get a repeat in the fall.
I'm hopeful the stimulus will help, but I was dismayed to see the same old corruption going on...instead of the small businesses getting the cash, larger businesses who don't need it were getting it. No oversight to speak of, although Congress had placed an oversight rule in the bill (which the W.H. ignored).
Who is "they?" Which laid-off workers now think they can live on "government benefits for life." Many of the laid off haven't even received their first unemployment check and suddenly they all have decided to become permanent dependents on a welfare state?
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Paid more to stay home? Legislation leads to unintended consequences
Vermont lawmakers in March approved a bill that makes it easier for people to qualify for unemployment insurance. While the details haven’t been fully established, it is widely understood that under the new law, people can choose to leave their positions for a number of reasons related to the virus, and qualify for unemployment insurance. Previously, workers would only qualify for unemployment insurance if they left their jobs involuntarily, or if the position was eliminated. ...
“I am getting informal reports,” said Chamber President Betsy Bishop on March 31. “This morning I had a company say they had 10 workers leave. I had another company that had two workers leave today.”
Thousands may decline to return to work as unemployment benefits top earnings
An employer can force an employee to accept the job return offer by contacting the state, which would stop the unemployment benefits if the employee declined to accept the job offer.
“But what kind of employee will an employer have if the employer forces the employee back to work making less pay than (they would make) being at home not working? The answer is a very disgruntled employee,” Luibrand said...
“The government has motivated people to collect benefits and stay home rather than work, which will keep our unemployment numbers high for months to come,” he said. “That is going to hinder my business from growing in a reliable, steady and resolute manner in the coming months. ... We are having numerous employees ask to be laid off because the unemployment benefits are now so generous.”
I can think of easy ways to get out of work - "oh I have a sore throat , I have a runny nose, a have a booboo".
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Medicare and Medicaid together account for about $1 trillion in federal spending annually, and estimates suggest that $1 out of ever $10 of that spending is fraud. Some estimates go much higher. We do not have a very good idea of exactly how extensive fraud in the system is, because the federal government has put a fair amount of effort into not knowing. According to Malcolm Sparrow, a Harvard professor of public management
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