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Started By
Message
Have We Not Seen The Beginning Of The Economic Downfall Yet?
Posted on 5/29/20 at 2:14 pm
Posted on 5/29/20 at 2:14 pm
As things open back up, of course there are more people able to get back to work, but even then there are some jobs that will have limited hours, etc.
My nephew was just informed today he will be temporarily laid off for 90 days.
This morning I went to pick up a prescription, they only gave me enough for 5 days, which isn't a big deal because they will have the rest available Tuesday, but the lady told me they are still not able to get full deliveries (which I assumed she meant that during the "pandemic" they were not able to keep everything in stock like they normally do, which the only thing I can think of is that where ever medicines are being produced are operating with a limited job force).
TL;DR: Some industries are getting back to work, some seem to be just starting to feel the impact. Is the worst yet to come? I am sure there are companies that will have to try to make up for what they loss the past few months. So forget what is in the media, what does reality look like?
My nephew was just informed today he will be temporarily laid off for 90 days.
This morning I went to pick up a prescription, they only gave me enough for 5 days, which isn't a big deal because they will have the rest available Tuesday, but the lady told me they are still not able to get full deliveries (which I assumed she meant that during the "pandemic" they were not able to keep everything in stock like they normally do, which the only thing I can think of is that where ever medicines are being produced are operating with a limited job force).
TL;DR: Some industries are getting back to work, some seem to be just starting to feel the impact. Is the worst yet to come? I am sure there are companies that will have to try to make up for what they loss the past few months. So forget what is in the media, what does reality look like?
11
Posted on 5/29/20 at 2:14 pm to OweO
Posted on 5/29/20 at 2:16 pm to OweO
Economy will recover once Rosie the Riveter starts up work at the factory again once WW3 with China starts 
Posted on 5/29/20 at 2:16 pm to OweO
I wish just once one of your long stories didn’t involve your nephew or a guy you know
This post was edited on 5/29/20 at 2:17 pm
Posted on 5/29/20 at 2:17 pm to OweO
quote:
My nephew was just informed today he will be temporarily laid off for 90 days.
Is that the same nephew that went on Facebook bitching about having his hours changed up?
Posted on 5/29/20 at 2:17 pm to OweO
I am beginning to think that those impacted have very little to do w driving the economy. I predicted an economic disaster. I just don’t see it
Posted on 5/29/20 at 2:18 pm to OweO
quote:
Is the worst yet to come?
well we're always two weeks behind Italy so...
Seriously, yes I believe the worst is yet to come. The longer it takes to get back to "full open" the worse it will be.
Posted on 5/29/20 at 2:18 pm to Ed Osteen
He knows a lot of people
Posted on 5/29/20 at 2:20 pm to tigerfoot
quote:
I predicted an economic disaster. I just don’t see it
40 million unemployed. That's a disaster. All we need is a dust bowl to make it complete.
Posted on 5/29/20 at 2:26 pm to tgrbaitn08
quote:
Is that the same nephew that went on Facebook bitching about having his hours changed up?
Actually it is.. And at first I thought they laid him off because they were tired of his shite, but I found out, they ended up firing two people and there were a group of people they laid off.
Posted on 5/29/20 at 2:42 pm to tigerinthebueche
quote:Ok, when is it going to hit. That smidge of money is gone.....businesses have been suffering for months, what is preventing the pullback?
40 million unemployed. That's a disaster. All we need is a dust bowl to make it complete.
Posted on 5/29/20 at 2:46 pm to tigerfoot
That’s a great question......
Posted on 5/29/20 at 2:51 pm to tigerfoot
In January the unemployment rate was 3.6%. In April it was 14.7%.
Just as another bit of data. Today the Dow Jones is at -42. The Nasdaq +101.
There is always the unknown, but more so right now than usual.
There is one article that indicates things on going one way, then there is another article that indicates the complete opposite. It's just an unusual situation.
Just as another bit of data. Today the Dow Jones is at -42. The Nasdaq +101.
There is always the unknown, but more so right now than usual.
There is one article that indicates things on going one way, then there is another article that indicates the complete opposite. It's just an unusual situation.
Posted on 5/29/20 at 2:56 pm to OweO
quote:
OweO
KILLER
TOFU!
Posted on 5/29/20 at 2:59 pm to OweO
Shut up stupid. The unemployment stimulus payments have an expiration date. Once that date comes and the businesses start reopening that unemployment rate will eventually fall very rapidly. We will be back to those unemployment numbers by Christmas or soon after
Posted on 5/29/20 at 3:03 pm to OweO
I'll say this but just an opinion. I think we won't see the impact of how Big Business is going to handle this for a while re: hire backs. For those who took a large PPP or Bailout, they should be required to rehire the exact same number they had before. Furloughed or laid off FTE's need to have a parachute just as much. I fear it won't work like that 100% however and it will affect a large percentage of the already 41MM on unemployment since the first of the year.
Posted on 5/29/20 at 3:05 pm to tgrbaitn08
quote:
Shut up stupid. The unemployment stimulus payments have an expiration date. Once that date comes and the businesses start reopening that unemployment rate will eventually fall very rapidly. We will be back to those unemployment numbers by Christmas or soon after
Why do you have to say this shite. Usually when know it all idiots like you make these statements it usually goes the exact opposite.
Posted on 5/29/20 at 3:07 pm to OweO
Chris you’ve proven time and time again you’re clueless when it comes to politics and economics. Stick to sports and pool parties.
Posted on 5/29/20 at 3:16 pm to tgrbaitn08
Shut up 08. Go back to Chicago,
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