OT: Coronavirus (COVID-19) Part II (READ THE OP)
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They not only dithered earlier this year - the president willfully downplayed it, several times - and lets be clear, it was to protect his precious stock market.
Edge
Kris King's Ghost
The big risk right now, as TB mentioned, is the impact on mid-size and smaller companies. We're talking private businesses, mom and pops, etc.
More than the health risk, is the economic impact this situation can have on these types of businesses.
A shade over 33 percent of businesses employ 100 people or less. Employers will less than 500 employees account for about 47 percent of businesses in the private sector. Their bandwidth is going to be severely challenged, as is the finances of those who are paid hourly.
This situation is very fluid, but I think the economy is more of a longer-term area of concern than health at this point.
More than the health risk, is the economic impact this situation can have on these types of businesses.
A shade over 33 percent of businesses employ 100 people or less. Employers will less than 500 employees account for about 47 percent of businesses in the private sector. Their bandwidth is going to be severely challenged, as is the finances of those who are paid hourly.
This situation is very fluid, but I think the economy is more of a longer-term area of concern than health at this point.
Gardner McKay
RIP, Jimmy.
His or the peoples?
My 401k is down 40%. I know a lot of people who are now reconsidering retirement. The stock market is part of the lifeblood of the economy.
Corporations have not started to have mass layoffs. Those employees are not the ones that are putting in unemployment claims right now. Yes, everything is affected in one way or another, but with regards as to what is currently happening in the economy, one of the bigger negative factors is the amount of places that were shut down by the governments. When you get to consumer spending, it is certainly both as employees are staying home and not spending on the street.
The answer is because testing isn't mechanized. Until recently, some labs had the ability to process 30 samples a DAY.
His in the sense it was, and I stress was, one of his lynchpins for re-election. Anyway, I'm trying to keep politics out of this, but the response from January until about 4 days ago is a big reason why everything is exploding right now.
Im thankful, finally, that public health is taking a front seat.
Gardner McKay
RIP, Jimmy.
Oh I don't disagree. Like I said. Suspending flights from China earlier than most was a great move and it probably saved us from a lot. The handling of it over the last 4 weeks or so undid all of that and has potentially made it worse.
Key words are not yet. These corporations have the resources and the money to weather this a little longer but, like I said, that will soon change when a total freeze on the economy gets priced into their forecasts. I don't disagree that small businesses need the immediate attention, but the tremors of this are going to last months if not years.
Perhaps most importantly, if these #'s and deaths spike over the next several weeks and our ill-equipped healthcare system is over-run. Watch the hell out. Because then you're talking about something bigger than stock prices and money - you're talking about social mutiny.
Edge
Kris King's Ghost
I don't think we're on the brink of societal collapse.
I think we need to slow down the spread of the virus as much as possible, we need people to not make this their moment of defiance, we need to prop up certain businesses and workers for the next little stretch, and then we are likely going to need to give people incentives to spend, when they have the means.
I think we need to slow down the spread of the virus as much as possible, we need people to not make this their moment of defiance, we need to prop up certain businesses and workers for the next little stretch, and then we are likely going to need to give people incentives to spend, when they have the means.
It's actually nice to see that some of the usual clowns on here are starting to play nice with others. It's unfortunate that this is what it took. Maybe, just maybe, when we get through this, we will all remember this and enjoy this forum as fans of the same team and stop being dicks. Myself included.
I think that we need to calm down from the pure panic. For corporations to start to have mass layoffs, something has to be going wrong with the corporation itself. Most big businesses are equipped to have their employees work from home. Now corporations that employ hourly employees (Apple at the brick and mortar stores), that can have an effect. But once cities start to run more normal, these stores will re-open.
Do I believe that there is going to be a painful recession? I think that it is at least a 50-50 proposition. But I also believe that such a recession will be relatively short lived. The economic indicators were all positive. This is not a financial crisis as it is a medical one. That means that once you calm the latter one down and things begin returning to normal, things stabilize.
This may be an ill-equipped health system, but still the best one in the world. This is not Italy. The masses are not going to rise up in mutiny.
What are you talking about? The second Strome signs his multi-year, $5m plan, all niceties go out the window on this board.
Let's remember this when people praise the media or when people with an agenda to call everyone and everything racist continue doing so.
Sad....but true. However, is there anyone on this board that would be happy with that?
East Coast Bias
Registered User
East Coast Bias
Registered User
The damage in downplaying this and calling it all different version of a hoax, and having your surrogates and talk show host friends mock it for weeks, is going to cause historical damage. It's unfathomably dangerous, and the trickle down of that is still being felt.
The lesson I took away from that one snippet that I bolded, yes. If we agree that halting travel from China was smart, but the media with an agenda decided to call him racist.
Gardner McKay
RIP, Jimmy.
It is just how they operate. Whatever generates the most headlines.
I know you're genuinely worried. I can't tell you not to worry. Can't promise that things are going to be okay. But what I will say, if you're doing everything you're supposed to be doing right now you should feel good about yourself.
GoAwayGiannone
Registered User
You know, one positive outcome of this that I can think of is a lot of pollution related issues have either stopped or are slowing down, so you can see some side effects that are beneficial to the environment (like Beijing have great air, enough to even run in), the Venice canals are clear, China's CO2 emissions are down by 30%.
Even having said that I'm pretty sure all the good will come undone as soon as this is all over. I'm also skeptical of how many companies will still adhere to climate change regulations afterwards seeing as how seriously this is affecting the economy.
Even having said that I'm pretty sure all the good will come undone as soon as this is all over. I'm also skeptical of how many companies will still adhere to climate change regulations afterwards seeing as how seriously this is affecting the economy.
Edge
Kris King's Ghost
The problem is that Trump's messaging is all over the map. So even when he says something that makes sense, he either butchers the delivery or immediately buries it in an ocean of comments that don't do anyone any favors, including himself.
Listen, Im a pretty laid back guy in my older age, and I'm not implying we are on the brink of a societal collapse --- but I've never seen so many pieces on the chessboard at the same time:
- Public health crises
- Frozen economy
- Administration lacking positions/personnel with experience working the levers of federal government
- Shuttered businesses/schools
- an ultra-polarized public before this even started
These next few weeks will be very telling. If our collective health worsens while income nosedives, thats going to create an awful lot of angry people with little hope...people that are on the verge of being forced to stay inside their homes. It's real pressure cooker.
Edge
Kris King's Ghost
I do think we haven't bottomed out yet.
I also think that depending on how the administration placates the masses, supports businesses, and offers bridges, we can slog through the next few months.
At some point, there likely will be additional economic stimulus packages following the more immediate measures.
Gardner McKay
RIP, Jimmy.
He has always been that way and I don't think it helps that President Obama was his predecessor. Good, bad or ugly, Obama could make anything sound palatable. He was a master orator. Whether you loved him or hated him, I think Americans across the board became used to his style of communication.
With communication being one of this President's glaring weaknesses, it certainly doesn't help him in a situation like this where clear, concise, consistent communication is needed. I think that is part of the reason for the see-saw we are seeing in the markets. They don't know how to react to his messaging.
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