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It needs to get a lot higher than that before you start touting that number as a scary thing. Between 30K and 60K people die every year in the US from the flu, if this thing doesn't top 100K then it's been a crazy overreaction. It still might, but right now the numbers do not justify the damage caused.
Quote:
Originally Posted by bobbythegreat
That's one theory, sure. No way to know for sure.
I'm not saying this current virus isn't a serious problem, I'm just saying that the numbers thus far don't justify the actions taken. So long as the numbers stay well below 100K, that's just something we'll have to deal with.
I very well could feel differently about things after the next 2 weeks. If things get as bad as they've suggested they will, there will be no doubt that the response was proper and absolutely needed. However if things start to peter out....well, let's just say that we'll hear a lot about it if that's the case.
Exponential growth. It is very similar to the magic of compounding in your investment accounts.
LOL, oh I'm not kiddo. This hasn't slowed the work I do down at all. If anything I'm benefiting from this, but that doesn't mean I can't see the millions who are set to suffer due to the economy shutting down....especially if it doesn't start back up quickly.
Hopefully with such naive takes, you are under 25. If so, don't worry about it, you'll grow up one of these days and have a completely different perspective on things. If you happen to be over that.....yikes. Keep hope alive that it'll happen for you one day.
A recession costs people their lives, it's not just "money". A depression costs a LOT of people their lives.
I'm 35 and I work in higher education. I have ample savings and I'm fine with riding this out for a few months, but I've also been very, very poor and under much more dire conditions than being locked down for weeks and having to scramble to convert in person classes to fully online. I'd rate this pandemic a 3-4 out of 10 given some of the hardships I've had to endure.
I wouldn't ever wish to go back to days when I wondered if I'd be able to eat, or if my next paycheck would come, or if I had a warm bed to sleep on, but at the same time, being broke and nearly starving off and on for prolonged periods of time taught me some very important life lessons: empathy, faith, compassion, resilience, strength, and gratitude. I wish that others would never have to go through those same things either, assuming they could learn these same important lessons on their own. But here we are. And here YOU are, downplaying the fact that 11k people are dead in less than 3 weeks...
I feel sorry for you if all you're experiencing in times like these is annoyance and frustration. You really don't seem to understand or care about humanity, and I'm sorry you're so dead inside.
LOL, oh I'm not kiddo. This hasn't slowed the work I do down at all. If anything I'm benefiting from this, but that doesn't mean I can't see the millions who are set to suffer due to the economy shutting down....especially if it doesn't start back up quickly.
Hopefully with such naive takes, you are under 25. If so, don't worry about it, you'll grow up one of these days and have a completely different perspective on things. If you happen to be over that.....yikes. Keep hope alive that it'll happen for you one day.
A recession costs people their lives, it's not just "money". A depression costs a LOT of people their lives.
The key is taking drastic action now so markets will start back up quickly. Most analysts are expecting a sharp recovery in the fourth quarter. A much longer recession is likely if we don’t take drastic actions now.
I also state we are shutting down the economy is a bit of an overstatement. I’m working. You are working. Amazon is hiring. Car dealerships are open.
Before government took any action here the manager of my favorite restaurant told me the owner was looking at laying off because business was dead.
It's interesting that BEFORE this crisis it took massive efforts
Free Money from Debt
QE constantly
Lower Interest Rates
Propping up of Farmers, Fossil Fuels and other business with tax money
To create a "boom" of less that 4% a year since tariffs and tax reform took place.
Yet people act as if things were great........and it's only due to old people dying that the markets are down.
That's fantastic. Trump has ruined everything he ever touched. He certainly didn't cause the virus but be caused the horrible 2 1/4 years before that of debt, deficit, chaos and lack of normal returns.
The key is taking drastic action now so markets will start back up quickly. Most analysts are expecting a sharp recovery in the fourth quarter. A much longer recession is likely if we don’t take drastic actions now.
I also state we are shutting down the economy is a bit of an overstatement. I’m working. You are working. Amazon is hiring. Car dealerships are open.
You are not factoring in ALL the places that are shut down now though, (and have been for some time), you are also not factoring in the HUGE stimulus program, which they are about to do another one, (how many TRILLIONS is this?). LOL
There is also the larger global economy to consider, (this is happening in most countries).This will have a significant impact on the US economy.
There may be some sectors that do well or start doing well once everything re opens, but it wont last long, they will be dragged down with the rest of the sinking ships, dominoes falling is really a good analogy.
One final note, its likely that 'things are not as they appear to be on the surface' right now...we are in a 'national emergency'...that give FEMA authority to withhold and even alter news and information,if they feel it may cause a mass panic, runs on the banks, anarchy in the streets, etc. If the govt knew a giant asteroid was heading straight for earth and was going to hit in 6 months time...do you think they would inform the general public 6 months out?!
Where are all of the beer virus doom and gloomers today.... I don’t blame anyone for the shut down, we had to do it to protect the vulnerable, but we have to get on with our lives and the freedoms we enjoy. We know a lot more about the virus now.
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