Economic Impacts of Covid

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TIDE-HSV

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Well, I looked for the cookbook and I'll need a small crane to get at it. :)
My grandmother lived on 5th avenue 1/2 block down from the armory.
Actually, my scoutmaster lived about a 1/2 block down from the armory on fifth. I lived about a block south on fourth avenue. What was her name? We moved away to a new house on 7th in 1950...
 

crimsonaudio

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I'm not so sure that's true. There's an old saying that, if you owe someone $100 and don't have it, then you have a problem. OTOH, if you owe them a million, then they have a problem...
Yup - the chinese can't call in their debts, as if we cannot pay them, it shows the 'investments' their economy is built on are worthless. I suspect the chinese economy would crash harder than ours.
 
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DzynKingRTR

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Well I found out why I have not received any unemployment. My company filed on my behalf since I was furloughed instead of laid off. The payroll person left my phone number and my apartment number off the form. They are refiling and hopefully I will get some back payments out of this since they screwed up.
 

Im_on_dsp

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Go Bama

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Maybe people are just wising up to the fact that paying $2.50 for sugar water is just plain stupid.
I wish you were right. I've been preaching against this poison for over forty years. People aren't eating out, going to sporting events, drinking in their car, going to bars and restaurants, and the unemployed can choose something less expensive.
 

UAH

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I believe that to date we have only seen the tip of the economic iceberg that will occur as a result of incomprehensibly allowing this pandemic to continue unabated in the country. There is literally no comparison that exist in the world. How many of us have considered buying a second home or buying a premium home, a new car, a family vacation or any number of other desirable but unnecessary items?

We know that economic growth occurs on the margin. The wealthy can always purchase in the luxury market but strong economic growth comes from the demand from new entrants in the economy.... immigrants buying into the American dream, newly employed high school and college graduates, etc.
We can appreciate the impact that Covid-19 and Trump policies has on these segments of the economy.

I do not believe it is an exaggeration to expect that there will be a cascade of layoff announcements generally in the economy and reduced profit projections broadly in the S&P 500 added to the fact that middle market businesses are already finding themselves in extremely difficult circumstances.

It is different environment than 2007-2008 but it will feel equally as bad to those who are caught up in it. I hope that I am wrong and appreciate any other views.
 

TIDE-HSV

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I believe that to date we have only seen the tip of the economic iceberg that will occur as a result of incomprehensibly allowing this pandemic to continue unabated in the country. There is literally no comparison that exist in the world. How many of us have considered buying a second home or buying a premium home, a new car, a family vacation or any number of other desirable but unnecessary items?

We know that economic growth occurs on the margin. The wealthy can always purchase in the luxury market but strong economic growth comes from the demand from new entrants in the economy.... immigrants buying into the American dream, newly employed high school and college graduates, etc.
We can appreciate the impact that Covid-19 and Trump policies has on these segments of the economy.

I do not believe it is an exaggeration to expect that there will be a cascade of layoff announcements generally in the economy and reduced profit projections broadly in the S&P 500 added to the fact that middle market businesses are already finding themselves in extremely difficult circumstances.

It is different environment than 2007-2008 but it will feel equally as bad to those who are caught up in it. I hope that I am wrong and appreciate any other views.
I believe you are essentially correct. The question is how much happens and when. If Trump manages to slip by before the worst hits, then he may "law and order" his way into power again...
 

UAH

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I believe you are essentially correct. The question is how much happens and when. If Trump manages to slip by before the worst hits, then he may "law and order" his way into power again...
One could dive deeper into conspiracy theories based on Trump managing to push the issue into 2021 but it is hard to imagine over 6 mil. infected by covid and 200 thousand deaths without significant economic impacts. You cause me to shudder with the thought of four more years of Trump in a major recession which he will certainly make worse.
 

DzynKingRTR

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One could dive deeper into conspiracy theories based on Trump managing to push the issue into 2021 but it is hard to imagine over 6 mil. infected by covid and 200 thousand deaths without significant economic impacts. You cause me to shudder with the thought of four more years of Trump in a major recession which he will certainly make worse.
I honestly don't think it is going to matter who wins the election. The economy is going to suffer no matter what because of a sore loser.
 
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TIDE-HSV

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I honestly don't think it is going to matter who wins the election. The economy is going to suffer no matter what because of a sore loser.
I believe you'd better rethink. If Trump comes back in and congressional gridlock remains in place, nothing constructive will be done. IF Biden wins and the Senate turns over, then there's a possibility something constructive will be done. With Trump or the senate remaining, then it will be a bad four years...
 
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