Effect of economic crisis on America’s small businesses [slides]

Post by OGWhales » Sat, Mar 21, 2020, 3:38 AM UTC

digitaltrees wrote: post #112

senordevnyc wrote: post #49

Earlier quoted context omitted.

1) Hedge funds didn’t crash the market. There’s just no evidence for that. The market crashed because there’s enormous uncertainty and people would rather be liquid while they wait to see what happens vs losing a huge percentage of their wealth. 2) Businesses exist to make a profit for their shareholders. Yes, they should have some retained earnings as a rainy day fund, but some of these companies are losing 75-100%…

Business does not have to be structured as a Corporation with limited liability. That is a privilege allowed by the sovereign power of the people through an elected government. If companies don’t behave responsibly they should lose that privilege and the owners could be held liable for debt and these kinds of mistakes personally. The fetishized obligation to shareholders and ONLY shareholders is not some holy pronoun…

Post by [deleted] » Sat, Mar 21, 2020, 3:40 AM UTC

WalterBright wrote: post #180

danharaj wrote: post #172

Earlier quoted context omitted.

You cannot imagine an economic system where the default state of a human being is to become destitute?

People are going to be destitute if nobody is producing goods and services. Money is worthless if there's nothing to buy.

Post by danharaj » Sat, Mar 21, 2020, 3:41 AM UTC

lettergram wrote: post #175

danharaj wrote: post #97

Earlier quoted context omitted.

I'm more sanguine. I live on a busy Brooklyn street which is normally packed with people shoulder to shoulder during the day, and I will see maybe 5-10 people on the block at what should be the busiest time. I think it's like a 90%-95% reduction which is certainly substantial enough to quench the spread enough to reduce the shock hospitals are receiving. Doing my part (I have asthma), I haven't left the apartment sin…

But for how long? The stricter the quarantine the longer we have to quarantine to reduce spread. That's the problem. Best estimate is we can reduce daily interactions by 70%, for the next 12-18 months.

Post by megous » Sat, Mar 21, 2020, 3:42 AM UTC

Aperocky wrote: post #139

609venezia wrote: post #59

Earlier quoted context omitted.

Can we make millions of the tests rapidly available? I am still reading about test shortages on both coasts, even under the restricted testing regime we have been in so far. Maybe the no-contact thermometers could be a scalable approach. Go to the bank? Forehead scan to get in. Go to the grocery store? Same. At least until--and maybe even after--we can scale the RNA testing.

> Maybe the no-contact thermometers could be a scalable approach. Go to the bank? Forehead scan to get in. Go to the grocery store? Same. This is the reality in China. Literally every single public place have a remote thermometer they scan on your forehead. supermarket? scanned. subway? scanned. restaurant? scanned. If you have a fever you'll go into quarantine in no time.

Post by yibg » Sat, Mar 21, 2020, 3:45 AM UTC

whb07 wrote: post #188

smallgovt wrote: post #176

Earlier quoted context omitted.

Question for OP: does this data change your mind? If not, what would?

That it impacted the kids and 20-30 yo cohort the way it impacts the 70+ yo. Also those co-morbidities like high blood pressure have the all important age distinction missing. So yeah if you’re 70 and have high blood pressure it’s worse. It’s perverse to stop world for some low rate CFR for the elderly. The world is made for the young. We shouldn’t destroy it for the elderly. Also actuarial tables for a 75 year old i…