31–40 of 135 posts
Earlier quoted context omitted.
LOL, what did you expect? Bernie dropped out, unemployment numbers are up, Trump fired the person responsible for managing the 2 trillion Coronavirus bailout. This is a great time for business, not so much for people.
If no one has any money to buy anything, that is bad for business.
Is the number expected to be this high? I thought one of the core ideas of the stimulus was to prevent firing by giving small businesses a "free" loan if they retained their employees? I've been trying to find a good authority on the economics of this stimulus but it seems I am always stuck finding the same "rehashed" news articles.
I sure can’t.
Earlier quoted context omitted.
This is false, the plan specifically targeted small businesses: https://www.sba.gov/page/coronavirus-covid-19-small-business...
You mean the money being managed by the person Trump just fired?
https://www.latimes.com/world-nation/story/2020-04-07/trump-...
we’ve now lost 10% of workforce in three weeks I’m a little surprised it’s not higher. I assumed with bars, gyms, retail, house cleaners (and not to mention wait staff at restaurants) all out of a job indefinitely that those folks made up >10% of the workforce.
The Fed conveniently released an announcement about a new $2.3t free money program at the same time. The Fed's actions only serve to confirm what I think a lot of people already know: things are going to get really bad. It's a bit strange watching the stock market continue to pump knowing many of these companies have had their revenues drop by as much as 100%.
On the other hand, hasn't a lot of cash outflow been reduced right now too? I feel like we're putting the economy on pause. If we can survive in this state for another 3 or so months, there's a good chance things will quickly return to normal - or at least most companies will survive and start rehiring under a new normal.
I think Australia is trying to do this on the cheap and kinda of stuffing it up. We're going to see a lot of industries collapse. Tourism is dead for 36 months at least and so is the higher education sector. It's going to be bleak.
Is the stock market connected to reality anymore? 16 million Americans lost their jobs in three weeks and in that time there's been a substantial rally. This can't just be short covering. What gives?
It's speculation I guess. People just assuming there will be a bounce back up and then other people jumping on to make money. So in a way, yes it is disconnected from reality. The stocks did go crazy low though on 18th March. Tesla pretty much halved its value.
The Fed conveniently released an announcement about a new $2.3t free money program at the same time. The Fed's actions only serve to confirm what I think a lot of people already know: things are going to get really bad. It's a bit strange watching the stock market continue to pump knowing many of these companies have had their revenues drop by as much as 100%.
On the other hand, hasn't a lot of cash outflow been reduced right now too? I feel like we're putting the economy on pause. If we can survive in this state for another 3 or so months, there's a good chance things will quickly return to normal - or at least most companies will survive and start rehiring under a new normal.
And yet, stocks continue their quick rebound.
The virus will peak soon, quarantine will start easing, and the economy will start to resume.
Even if covid-19 disappeared today in some impossible miracle, we'd still see record people out of work and it would take years to fully recover.