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3.28M file for U.S. jobless benefits

wsj.com

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Re: 3.28M file for U.S. jobless benefits

#101

Post by itgoon »

wmeredith wrote: post #89
PaulRobinson wrote: post #23

A staggering number, and unprecedented in the modern era. I'm not in the US or an America, but my (retired), Father is and for the sake of the people around him and his family I hope this is the point where the American political system - and Republicans in particular - realise that their ideologies are dead. In the UK we saw an Old-Etonian Tory Prime Minister in the space of a couple of weeks: - Effectively national…

> and Republicans in particular - realise that their ideologies are dead Good luck. Their base doesn't care. I was speaking with my father a couple days ago, who is a US Board-Certified surgeon and ran his own practice for 40 years. He's a smart guy, but firmly lives in the Fox News/Rush Limbaugh bubble. He was saying how he was hoping this crisis would put the final nail in the coffin ... for the corrupt democrats.…

They're both right. Neither the Republicans or Democrats will be able to conduct business as usual going forward.

Re: 3.28M file for U.S. jobless benefits

#102

Post by toomuchtodo »

duxup wrote: post #91
toomuchtodo wrote: post #50

Earlier quoted context omitted.

> They won't take back those jobs, they'll push for agreements that guarantee a safety net. This event forcing America to adopt more progressive policies after experiencing suffering without them wouldn’t be a bad thing. Sometimes things must get worse for them to get better.

>This event forcing America to adopt more progressive policies Most of the legislation is temporary heading into an election. I suspect the GOP would be happy to cut that net ASAP and sadly their own voters would support it.

I have some models as to how this changes the US electorate, based on the burn rate. Curious to see how right I am.

Re: 3.28M file for U.S. jobless benefits

#103

Post by duxup »

alharith wrote: post #82
duxup wrote: post #64

Earlier quoted context omitted.

>Business are being told to do takeout only which is a huge difference. Yeah I've been doing a fair amount of takeout and places where you had dozens of people ... operating with two or three people now.

My brother is a restaurant owner and reports that despite volume being down, profit is up due to less overhead. Others in the restaurant industry are reporting the same. When we come out on the other side of this, I think a lot of businesses are going to rethink a lot of things they held on to as infallible truths. Sorry as many mentioned, yes the key ingredient is takeout: This is a fast casual italian / pizza resta…

I think fast casual already did that and going say delivery only ... might be a dead end for most small businesses.

Especially as folks get out of their homes and WANT to be out and about ;)

Re: 3.28M file for U.S. jobless benefits

#104

Post by brobdingnagians »

mtberatwork wrote: post #51
PaulRobinson wrote: post #23

A staggering number, and unprecedented in the modern era. I'm not in the US or an America, but my (retired), Father is and for the sake of the people around him and his family I hope this is the point where the American political system - and Republicans in particular - realise that their ideologies are dead. In the UK we saw an Old-Etonian Tory Prime Minister in the space of a couple of weeks: - Effectively national…

I would like to be optimistic and think we all learn valuable lessons from this but realistically most people will just double-down in their convictions and blame some other externality as to why their own political/economic ideologies didn't pan out.

We haven't yet seen the full effects of the current political shift or of the measures being taken. It may be premature to believe we know all of the lessons that are to be learned from this, or even that the ones we believe we are learning are grounded in data. Hindsight will make all of this much more clear.

Re: 3.28M file for U.S. jobless benefits

#105

Post by _y5hn »

rubber_duck wrote: post #35

And this is just the start. While I think the US response to Corona was slower than the response in my country I feel the US is the only country that's seriously discussing economic repercussions and debating the medical experts. In EU (at least in my country) it's doctors running things and we are in "stop the pandemic at all cost". Everyone is in panic due to Italy situation. But doctors are only trained to see the…

Each country has economic and market mitigations. Some are beginning to copy US model of Gov paying bills outright for a period. If everyone can do this with low cost, there's no reason for high risk and damage to economy later. This incident will make us learn fast.

The medical experts do consider economic and market impacts, and there are alignments in governments how to balance everything. However, since this is an unprecedented health crisis with unknown ramifications, that is first priority. Many measures are to create wiggling room to handle what unknown unknowns may come down the road as well.

This shows us systemic vulnerabilities, and societies will be forever changed, probably for the better.

Re: 3.28M file for U.S. jobless benefits

#106

Post by lbeltrame »

SamuelAdams wrote: post #74
rubber_duck wrote: post #35

And this is just the start. While I think the US response to Corona was slower than the response in my country I feel the US is the only country that's seriously discussing economic repercussions and debating the medical experts. In EU (at least in my country) it's doctors running things and we are in "stop the pandemic at all cost". Everyone is in panic due to Italy situation. But doctors are only trained to see the…

I saw this idea floated around on Reddit a few days ago. Basically the crux is that unemployment has a death toll, too. So if you close all non-essential businesses, unemployment rises, which increases the likelihood of people losing health insurance, losing homes, not paying electrical bills, communication (internet / phone) bills, etc. If some people lose all those things and don't have access to them again for 2+…

> I doubt it will continue for another 18 months until a vaccine is developed.

If any of the 40+ trials going on for drugs is successful and makes COVID-19 clinically manageable, it would improve the situation earlier than just waiting out a vaccine (which, like the drugs, may not work at all).

Re: 3.28M file for U.S. jobless benefits

#107

Post by sago »

PaulRobinson wrote: post #23

A staggering number, and unprecedented in the modern era. I'm not in the US or an America, but my (retired), Father is and for the sake of the people around him and his family I hope this is the point where the American political system - and Republicans in particular - realise that their ideologies are dead. In the UK we saw an Old-Etonian Tory Prime Minister in the space of a couple of weeks: - Effectively national…

Sadly I think the effect might be the opposite. The massive financial hardship seems poised for a backlash where a group promoting 'economy above all else' will gain the support of millions who feel their financial future has been unfairly taken.

I see little threads fraying already.

I have heard even normally fairly left-leaning people saying variations of 'this will kill more people from poverty'.

Re: 3.28M file for U.S. jobless benefits

#109

Post by mrfusion »

rubber_duck wrote: post #35

And this is just the start. While I think the US response to Corona was slower than the response in my country I feel the US is the only country that's seriously discussing economic repercussions and debating the medical experts. In EU (at least in my country) it's doctors running things and we are in "stop the pandemic at all cost". Everyone is in panic due to Italy situation. But doctors are only trained to see the…

And mental health too. How many new Alcoholics will this create? How many suicides?

Re: 3.28M file for U.S. jobless benefits

#110

Post by itronitron »

alharith wrote: post #82
duxup wrote: post #64

Earlier quoted context omitted.

>Business are being told to do takeout only which is a huge difference. Yeah I've been doing a fair amount of takeout and places where you had dozens of people ... operating with two or three people now.

My brother is a restaurant owner and reports that despite volume being down, profit is up due to less overhead. Others in the restaurant industry are reporting the same. When we come out on the other side of this, I think a lot of businesses are going to rethink a lot of things they held on to as infallible truths. Sorry as many mentioned, yes the key ingredient is takeout: This is a fast casual italian / pizza resta…

My personal experience has been that quality of restaurant/food/dining experience has always been negatively correlated with number of tables, or even total sq. ft.
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