The market isn't the economy. If the outbreak is bad the economy will suffer if the outbreak isn't bad the economy won't suffer. The market is still being governed by speculation
Not gonna lie, this is personally pretty terrifying. I didn't suffer through the recession of 07/08 and entered the workforce probably at the height of the economy's bull run.
Reminds me of being in Houston when a big hurricane was about a day or two out but definitely making a direct hit.
That was scary but it didn't change enough about the way we lived really. It probably should have. This seems more like 9 11 in terms of directly altering the way we live, and not in a good way. Us gen x mother****ers have seen alot of shyte in our 2 decades plus adult lives. Reality Bites.
But he will be responsible for how we can recover from it. He really ****ed us over. With the limited tools we now have because of him. He was all smiles when he gave out those corporate tax cuts, pressuring to lower and keep the fed rate low, trade wars, abolishing the trans pacific trade agreement racking up a trillion dollar deficit when the economy on a record high. Btw the trillion dollar deficit that was racked up is without any money going to infrastructure. He deserves all the blame moving forward battling this upcoming recession. **** him selfish *******
What goes up has to come down. I think you'll see alot of stimulus and people buying stocks in 4-6 weeks when it becomes apparent the better safe than sorry approach has worked and all countries have contained the virus. The real disaster would be bodies piling up in the street and the virus mutating from something that primarily hits elderly and those with preexisting conditions to otherwise healthy adults.
The economy is suffering. When Disney, NBA, SXSW, Houston rodeo shutdown, airlines and hotels get hit, it hurts the economy. However, there isn't anything structurally wrong with it so recovery should be fast if this thing dies down a little bit. I'm in software and we are already feeling it. Nobody wants to make a decision on anything while there is uncertainty.
Trump tweets aren't even infuriating more, they are just sad to see and realize how ****ing stupid he is and how little he realizes it and how many millions will be harmed as a result. 25th amendment. It's time.
To soothe your anxiety, the impending recession could really be much worse than 2008: https://www.vox.com/2020/3/13/21177...-recession-stock-market-economy-jobs-stimulus Jason Furman At this point, this feels much worse than 2008. Lehman Brothers was quite bad, but it was the culmination of a sequence of things that had happened over 14 months. This hit all at once. There were a lot of people lucky and privileged enough that they didn’t reduce their spending in 2008. But everyone is doing it now. I was in a restaurant yesterday, possibly for the last time for a while. I was in a taxi, possibly the last time for a while. There are entire industries I interact with where I’m realizing: “This may be the last time I’m paying you for a while.” That didn’t happen in 2008. When you start to think about all of that it just gives you a feeling for the enormity of this economically. If two months from now we go back to normal, I think we’d be okay. If this lasts six months or longer — and I think that’s the more likely scenario — all of that just compounds. Even if you discover a cure in December, you still have people out of jobs, broken balance sheets, bankrupt companies that won’t be particularly eager to hire. The economic effects might outlast the health effects.
I said it in 2008, instead of giving the BANKS the money, they should have given money to the HOME OWNERS to pay off their loans, the banks would then have gotten the money and people would have been out of debt....it would have been a much better solution. Same holds true today. DD
People are still gonna eat and go to work. Airlines, Disney, and pro sports aren't the economy. Airlines and hotels hire a lot of people but that's the extent now. My point exactly
in 2008 it took about 10 months for the DJIA to lose half its value. in 2020, its taken 10 days for the DJIA to drop by 1/3. This will get much much worse.
