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I'm also hearing this morning that we've hit the 10% mark. I also heard the same economist say "The economy is collapsing, and it's a global collapse". I don't even need coffee to be alert the rest of the day...
Any speculations on how bad is this going to get? Should I stock up on TP, on food, or on vodka and ammo?
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..and an additional $60,0000 national debt per household.
It's weird how the national debt is only a problem when the proposal is helping ordinary people and never a problem when the proposal is to go to war overseas.
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And all this for a virus that kills around 1% of the people who get it, and the majority of them are retired. Future generations will look at us and wonder how we were this stupid.
You should check the numbers coming out of Italy. It’s not 1% if the medical system is overwhelmed. Moreover, you do realize that’s 3 million dead in the US alone?
https://www.msn.com/en-us/news/world/italys-coronavirus-deat...
Building on my analysis from last week: 1. This week's 6.6M new jobless claims represents ~4% of the estimated ~160-165M US Workforce. 2. This is incremental to the 3.3M new jobless claims filed week ending 3/21, totaling ~10M total jobless claims in the past 2 weeks. 3. The US unemployment rate was ~3.5% as of EOM February [1], so cumulatively that means we've hit ~10% unemployment as of EOW 3/28 (~10M incremental j…
That's not too bad... here in Belgium we currently have half of the working population on unemployment benefits.
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And all this for a virus that kills around 1% of the people who get it, and the majority of them are retired. Future generations will look at us and wonder how we were this stupid.
It kills 1% if ICU care is available. It kills a lot more if the healthcare system is overwhelmed. Look at Spain or Italy. Case fatality rate is around 10%. Letting it run its course it needs to infect 60-70% of the population before herd immunity kicks in. 1% of 60% of the population of the US is 2 million people. World-wide you're looking at 45 million people for a very optimistic scenario. The numbers could easily…
The odd thing to me about it is that futures seem largely positive. Is it because the CAREs act or dropped labor is supposed to equal money not spent and thus meant to shield companies ( and investors )? I honestly do not get how market interprets it as good news.
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I'm also hearing this morning that we've hit the 10% mark. I also heard the same economist say "The economy is collapsing, and it's a global collapse". I don't even need coffee to be alert the rest of the day...
Would you have a link to more reading from that economist about this?
For general views of very smart people on the economy and markets, I recommend Bloomberg Surveillance every morning on the Bloomberg app, radio and on your favorite podcast app
Unemployment numbers, if we're lucky, will crash quickly but there's going to be a long tail on the recovery.
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It kills 1% if ICU care is available. It kills a lot more if the healthcare system is overwhelmed. Look at Spain or Italy. Case fatality rate is around 10%. Letting it run its course it needs to infect 60-70% of the population before herd immunity kicks in. 1% of 60% of the population of the US is 2 million people. World-wide you're looking at 45 million people for a very optimistic scenario. The numbers could easily…
The case fatality rate is meaningless when testing isn't done extensively.
I hope that tech industry employees do not feel immune to this. I encourage you to take a look at your customer base and think very critically about where that money is actually coming from.
Our client services team is in overdrive making sure all our customers are as happy as possible. This is something every company should be doing right now.