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Started By
Message
It's scary to think how far back this shut down is going to set the working American
Posted on 8/6/20 at 10:57 am
Posted on 8/6/20 at 10:57 am
- Inflation from the money we have been printing devaluing assets including retirement accounts
- Laid off people having to dip into rainy day savings or withdraw early from 401Ks
- The wave of foreclosures that is inevitable
- Landlords reeling trying to recover
- Small and large businesses disappearing overnight
- Manufacturing in a lot of industries slowed to half of what it usually is
- Groceries are higher than ever
There will be many that will not recover. I couldn't imagine being 10 years from retirement and being laid off right now. Retiring at 65 will be a pipe dream for many now.
All of this and the stock market is chugging along. I think when the reality really hits the lingering effects of this will be far greater than 2007-08.
All for a virus barely deadlier than the Flu. The same virus that mysteriously healed other leading causes of death in the USA like heart disease, strokes, etc. All shutdown because OMB!
- Laid off people having to dip into rainy day savings or withdraw early from 401Ks
- The wave of foreclosures that is inevitable
- Landlords reeling trying to recover
- Small and large businesses disappearing overnight
- Manufacturing in a lot of industries slowed to half of what it usually is
- Groceries are higher than ever
There will be many that will not recover. I couldn't imagine being 10 years from retirement and being laid off right now. Retiring at 65 will be a pipe dream for many now.
All of this and the stock market is chugging along. I think when the reality really hits the lingering effects of this will be far greater than 2007-08.
All for a virus barely deadlier than the Flu. The same virus that mysteriously healed other leading causes of death in the USA like heart disease, strokes, etc. All shutdown because OMB!
This post was edited on 8/6/20 at 10:58 am
10
Posted on 8/6/20 at 10:59 am to stout
Yup. And it wasn't hard to see this coming. Trump messed up on COVID, but he could pull out a win if he'd stop playing the Left's COVID game and push to open everything back up.
Posted on 8/6/20 at 11:00 am to stout
It’s almost like the entire goal of the shutdown is to crush the middle class into total dependance on the government
That and to give Biden a cover to not campaign
That and to give Biden a cover to not campaign
Posted on 8/6/20 at 11:02 am to stout
quote:
All of this and the stock market is chugging along. I think when the reality really hits the lingering effects of this will be far greater than 2007-08.
I have little doubt this is true. The loss of small family owned businesses will continue for years and those losses lead to generational issues where the death of a family member, lamentable, is unavoidable and is either going to impact generations or not....but our shutting down was avoidable and the damage is going to devestating.
This is in the first world...in the third world the impact could very well lead to wars and the deaths of millions of people....stranger things have happened in the world.....and those things have, from time to time, slipped into the first world...
Posted on 8/6/20 at 11:02 am to stout
Trump promoted shutdowns and has still kept doctors onboard that are promoting further shutdowns
Posted on 8/6/20 at 11:03 am to NIH
but muh swamp
Posted on 8/6/20 at 11:03 am to David_DJS
Trump has been spineless since March. One day he’s for opening, the next he’s blasting Kemp for opening too soon. That and he has allowed Fauci and Birx to basically run the response since March.
Posted on 8/6/20 at 11:03 am to stout
quote:
Retiring at 65 will be a pipe dream for many now.
Luckily I had accepted a few years ago that it'll be a miracle for me to retire before I die. I hope I get to the other side of this with a retirement left. I've drained my savings, sold off most of what I don't need, and have decided to make a draw from my retirement to have a cash cushion should I get fully laid off.
I'm still in serious disbelief that we as citizens allowed this to happen. We collectively crawled in a hole and cried because we were scared. Now we are just dazed and confused and letting our "leaders" rape our freedom. I'm so disheartened by it.
Posted on 8/6/20 at 11:04 am to Pelican fan99
quote:
It’s almost like the entire goal of the shutdown is to crush the middle class into total dependance on the government
Ya think?
Have you thought anything else all along?
And not just to crush economically, but to silence you as the government assumes more and more control of your every day life. It's not an accident there are restrictions on churches, gatherings of family/friends, small business - but a total green light for abortions and funneling $50 billion to the owner of the Washington Post.
Posted on 8/6/20 at 11:06 am to David_DJS
quote:
Trump messed up on COVID,
Please explain? States are controlled by Governors, Mayors, County judges.
Posted on 8/6/20 at 11:07 am to LSUROXS
All of those local officials are following federal guidelines and recommendations. Created by Fauci, Birx, etc.
Pretending as if Trump is some victim here is ignorant.
Pretending as if Trump is some victim here is ignorant.
Posted on 8/6/20 at 11:07 am to stout
I've made a few people feel really bad about their futures after I explain things in a rabbit hole sense.
I'm trying to get over the anger at how badly the universe has fricked my economic prospects over due to timing of the 08 crash and now this. I have to keep reminding myself that it could be worse and I may get lucky before things get really bad and can take advantage of outlier deals that are certain to come around.
I'm trying to get over the anger at how badly the universe has fricked my economic prospects over due to timing of the 08 crash and now this. I have to keep reminding myself that it could be worse and I may get lucky before things get really bad and can take advantage of outlier deals that are certain to come around.
Posted on 8/6/20 at 11:08 am to LSUROXS
quote:
Please explain? States are controlled by Governors, Mayors, County judges.
Where did all the funding come from that allowed Governors and Mayors to selectively shut their states/cities down?
Posted on 8/6/20 at 11:09 am to stout
quote:
Inflation from the money we have been printing devaluing assets includin
It’s no wonder why some financial geeks are predicting $4000/oz gold by 2024
Posted on 8/6/20 at 11:10 am to David_DJS
quote:
Trump messed up on COVID
I keep seeing this but I have yet to hear what someone else would have done differently that would have had a more positive effect on handling the virus.
Posted on 8/6/20 at 11:12 am to Homesick Tiger
quote:
I keep seeing this but I have yet to hear what someone else would have done differently that would have had a more positive effect on handling the virus.
Seriously?
We've just watched government at all levels systematically take apart the best economy we've had in forever, and you're having trouble understanding what could have been done better?
Posted on 8/6/20 at 11:17 am to stout
quote:
All for a virus barely deadlier than the Flu. The same virus that mysteriously healed other leading causes of death in the USA like heart disease, strokes, etc. All shutdown because OMB!
Can anybody find this data? I've tried several times and can only find Covid statistics. There's usually 3 year lag on deaths for the CDC.
Posted on 8/6/20 at 11:20 am to SlowFlowPro
quote:
I'm trying to get over the anger at how badly the universe has fricked my economic prospects over due to timing of the 08 crash and now this. I have to keep reminding myself that it could be worse and I may get lucky before things get really bad and can take advantage of outlier deals that are certain to come around.
I am pretty insulated currently so I am thankful but as you know 2008 caused me to start all over. It's not fun but it can be done.
Posted on 8/6/20 at 11:21 am to wutangfinancial
quote:
Can anybody find this data? I've tried several times and can only find Covid statistics. There's usually 3 year lag on deaths for the CDC.
I have seen it mentioned in various articles. Nothing like the CDC but some of the info is out there.
Posted on 8/6/20 at 11:21 am to David_DJS
quote:
We've just watched government at all levels systematically take apart the best economy we've had in forever, and you're having trouble understanding what could have been done better?
You talking about federal intervention in state governments?
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