U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
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Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#2For context, the highest unemployment rate was during the Great Depression, 24.9%. The methodology likely has changed since then but it's still sobering to think we might soon be in that territory. Hopefully this will be shorter lived and not have a great war as a catalyst for ending.
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#3For context, the highest unemployment rate was during the Great Depression, 24.9%. The methodology likely has changed since then but it's still sobering to think we might soon be in that territory. Hopefully this will be shorter lived and not have a great war as a catalyst for ending.
It would be nice if they start a Great War Against Disease, and spend as many trillions as needed so no one ever gets the flu, any cold, or any other disease ever again.
People keep saying "that's not possible" but there are already a lot of companies working on it.
Show me a place I can make $300,000 working on curing diseases and I'd happily spend my life working on it. At the moment making websites pays better.
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#4It's absolutely insane that the US isn't even guaranteeing sick leave in all this, let alone a significant portion of lost income. I guarantee you it is cheaper than a depression.
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#5The question is how fast it will come down to full employment once this is over.
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#6[deleted]
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#7The question is how fast it will come down to full employment once this is over.
you can estimate the answer by looking at historical data.
after last crisis it took 7 years for unemployment rate to recover: https://irle.berkeley.edu/the-post-recession-labor-market-an...
there is more data going back 100 years.
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#8The question is how fast it will come down to full employment once this is over.
Denmark (I think) said that they'll freeze the economy, meaning that the state covers everything. Once over, it starts as if nothing happens. People will have no time to look for new jobs, they'll go to old ones and hopefully every company starts spending to support each other
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#9For context, the highest unemployment rate was during the Great Depression, 24.9%. The methodology likely has changed since then but it's still sobering to think we might soon be in that territory. Hopefully this will be shorter lived and not have a great war as a catalyst for ending.
It would be nice if they start a Great War Against Disease, and spend as many trillions as needed so no one ever gets the flu, any cold, or any other disease ever again. People keep saying "that's not possible" but there are already a lot of companies working on it. Show me a place I can make $300,000 working on curing diseases and I'd happily spend my life working on it. At the moment making websites pays better.
There are a few computational drug discovery companies that might suit you. For example, I work at Schrodinger, whose motto is "Fight Disease With Code."
https://www.schrodinger.com/careers
But you're right that you won't get $300k. Even $200k is a reach. Funding for drug discovery can't match making websites yet.
Re: U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
#10The restaurants near me have all laid off their staff, closed doors, i suspect they won't pay any outstanding bills; Their rent probably isn't even due yet.
I hope that on the reboot we require some "social security" in businesses; healthcare benefits, 2 weeks severance, and retirement savings seem like minimums; Frankly, these requirements should have been included in the 21% tax cut.