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Old 05-09-2020, 10:40 PM
 
27,961 posts, read 30,454,479 times
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Quote:
Originally Posted by bawac34618 View Post
Same, and now I have to do it all over again. Maybe by 2028, in my 40s, I'll be able to get on with my life and finally achieve the milestones I should have in my twenties.

My mind is almost blown by how bad my economic luck has been as an adult. We only have one life to live.
I think most of the standard milestones about what constitutes a good life need to be completely thrown out the window. 2008 was a precursor to that. It woke a few people up, but after being knocked out for a couple of years, society essentially went on with the typical materialistic mindset as before (or tried to keep up the pretense of doing so). So the people who didn't get the message in 2008 are about to get another opportunity to 'get it' now.

Expect life to be hard from this moment forward, because I really think it will be. Expect to be flexible in your thinking (but not necessarily your core ethical/moral values). Expect that being outside your comfort zone is the new normal--in many, many arenas of life. Expect to question yourself about what is really important in life.

There is good news though: Potential for personal growth is much, much, higher when life isn't comfortable. We just don't learn much when we're in our comfort zones.

Last edited by mysticaltyger; 05-09-2020 at 10:50 PM..
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Old 05-09-2020, 10:45 PM
 
27,961 posts, read 30,454,479 times
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Quote:
Originally Posted by bawac34618 View Post
Agreed.

I just hope I find love before I die. My chance to have a worthwhile career is likely gone forever. Best case scenario it would take me until I’m in my 40s to get back to where I was at 22. People don’t start lives and build careers when they are in their 40s. I’ll never own a home. Hopefully social security is still around when our generation reaches retirement age. I’ll be lucky if I don’t have to move back in with my parents.

My life is over.
It sounds to me like you've built your life on a set of illusory things, which is why you feel like your life is over.

Do YOU love you? It kinda doesn't sount like it. It's not wrong to have external goals, but what about what's going on inside you?
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Old 05-09-2020, 10:45 PM
 
Location: Sydney Australia
759 posts, read 426,833 times
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Aren’t you all being overly pessimistic? Surely when people start moving about the economy should come back.
Surely people who have surplus money, of which there are many, will do their best to support the economy by spending.
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Old 05-09-2020, 10:52 PM
 
27,961 posts, read 30,454,479 times
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Originally Posted by MarisaAnna View Post
Aren’t you all being overly pessimistic? Surely when people start moving about the economy should come back.
Surely people who have surplus money, of which there are many, will do their best to support the economy by spending.
No, I don't think that. I'll be happy to be wrong, though.

I just don't know of a time in history when massive money printing ever led to anything good. And many nations now are running their digital printing presses at full tilt. And no, I don't think this time is different.
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Old 05-09-2020, 10:54 PM
 
22,345 posts, read 8,991,434 times
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Quote:
Originally Posted by MarisaAnna View Post
Aren’t you all being overly pessimistic? Surely when people start moving about the economy should come back.
Surely people who have surplus money, of which there are many, will do their best to support the economy by spending.
Corps will not have surplus money. They will be deep in debt.

Families, for years to come, will not take vacations with small kids, to travel in a densely packed plane to stay in hotel beds 150 strangers slept in that year.

This is an economic game-changer.

Entire industries will be decimated. Many retail chains gone. Restaurant chains-many gone. Hotel chains-many gone. Theatres-mostly gone. Concerts-forget about it.

Add in, sports w/o fans means hundreds per venue who work at games are unemployed.
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Old 05-09-2020, 11:02 PM
 
Location: San Francisco
3,888 posts, read 1,026,385 times
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Quote:
Originally Posted by MarisaAnna View Post
Aren’t you all being overly pessimistic? Surely when people start moving about the economy should come back.
Surely people who have surplus money, of which there are many, will do their best to support the economy by spending.
It will bounce back when a vaccine is developed (or even a treatment to lessen the severity of symptoms). Biotech, start-ups, pharma, research institutes and universities are working 24/7 to do so - according to WHO (and several CEOs), the end of 2021 is the target.

In the meantime, there will be a level of fear and pessimism (as evidenced by this forum).
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Old 05-09-2020, 11:05 PM
 
22,345 posts, read 8,991,434 times
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Quote:
Originally Posted by CorporateCowboy View Post
It will bounce back when a vaccine is developed (or even a treatment to lessen the severity of symptoms). Biotech, start-ups, pharma, research institutes and universities are working 24/7 to do so - according to WHO (and several CEOs), the end of 2021 is the target.

In the meantime, there will be a level of fear and pessimism (as evidenced in this forum).
By then we'll have many more Lord & Taylors, who are liquidating reports indicate, stalling just so they can have liquidation sales, which can't effectively be done online.
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Old 05-09-2020, 11:20 PM
 
Location: San Francisco
3,888 posts, read 1,026,385 times
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Originally Posted by BobNJ1960 View Post
By then we'll have many more Lord & Taylors, who are liquidating reports indicate, stalling just so they can have liquidation sales, which can't effectively be done online.
This is part of the fear re: the economy (and this forum); retailers which have been struggling for years (such as L&T and Nieman Marcus) are being inaccurately portrayed as a sign of economic decline (and pessimism) due to the pandemic. It simply isn't true.
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Old 05-09-2020, 11:25 PM
 
22,345 posts, read 8,991,434 times
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Quote:
Originally Posted by CorporateCowboy View Post
This is part of the fear re: the economy (and this forum); retailers which have been struggling for years (such as L&T and Nieman Marcus) are being inaccurately portrayed as a sign of economic decline (and pessimism) due to the pandemic. It simply isn't true.
Covid will lead many to liquidate, which, w/o covid, reorganize.

That makes the difference between keeping say 60% and 0% of stores covid lockdown job losses.

I expect despite their claims, JCP & Kmart to liquidate during 2020. Most likely each lasts a few more years w/o covid. The extra years closed = extra covid job losses.

I'm not high on Neiman Marcus lasting long, either, again sped up liquidation due to covid I expect-no matter their public statements.

No one will offer a retailer the true seed money needed to endure covid style revenue draconian shrinkage.
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Old 05-10-2020, 12:13 AM
 
Location: Oregon, formerly Texas
6,383 posts, read 4,326,658 times
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Obviously the weakest links will be the first to go. The department stores have been struggling for years.

The April jobs report was truly terrifying.

The report showed that besides grocery stores, EVERY sector shed jobs. Grocery stores be added something like 150k jobs. EVERYTHING else - trucking, health care, education, even tech, all the stuff that in 2008 shrugged off that crisis - none of it's safe now. The question is how hard they got hit. Some worse than others.

There's no way this doesn't have a macroeconomic effect sooner or later.
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