# Corona Virus, Are we headed for a Great Depression?



## SG854 (Mar 24, 2020)

Your thoughts on this subject.

Unemployment is high right now, many people living pay check to pay check are struggling right now. Many businesses will close for good and jobs will be lost. Factories shut down and not producing goods for us.

We can't stay on lock down for long eventually we are going to need to go back to work. People may die from Corona Virus but shut down too long and people will die from starvation if we are in a Depression and have no jobs.


https://www.google.com/amp/s/qz.com...cent-of-us-workers-jobless-fed-pres-says/amp/

https://www.google.com/amp/s/www.nytimes.com/2020/03/23/opinion/coronavirus-depression.amp.html

https://www.google.com/amp/s/www.vo...-recession-depression-trump-jobs-unemployment


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## spotanjo3 (Mar 24, 2020)

You worry too much. SMH.


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## JayMathis (Mar 24, 2020)

azoreseuropa said:


> You worry too much. SMH.



No as usual you're not really aware of the situation at hand. America is just about completely shut down. Eventually if we don't go back to work the economy will collapse if America collapses all other countries will too. Those are facts.


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## spotanjo3 (Mar 24, 2020)

JayMathis said:


> No as usual you're not really aware of the situation at hand. America is just about completely shut down. Eventually if we don't go back to work the economy will collapse if America collapses all other countries will too. Those are facts.



Okay. Whatever you say. And Yes, I am fully aware of the situation really. I am not worrying. Perhaps but It is not end of world anyway. Stay positive and keep smiles. It will be ok.


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## JayMathis (Mar 24, 2020)

Well I'll let you get back in your bubble sorry to disturb you.


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## VinsCool (Mar 24, 2020)

Honestly, it definitely will fuck the economy for a while.
However, we are no longer living with limited technology and knowledge, so we may not get it as bad, at least, I hope so.


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## Flame (Mar 24, 2020)

azoreseuropa said:


> You worry too much. SMH.



Your the type of person doesnt worry because his hasn't worked a single second of his life hasnt got bills to pay. SMH.

all he know is to play games. old games. who doesnt even play online.




azoreseuropa said:


> Okay. Whatever you say. And Yes, I am fully aware of the situation really. I am not worrying. Perhaps but It is not end of world anyway. Stay positive and keep smiles. It will be ok.



its not end of the world. yes the world doesnt give two fucks about humans. but for humans life as we now it is in danger.


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## teamlocust (Mar 24, 2020)

yup if u not highly skilled. you may lose ur job, i.e if u have one.. lol


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## Alexander1970 (Mar 24, 2020)

*Corona Virus, Are we headed for a Great Depression?*

Yes,of Course.People do not aware this is not over in 2-3 Weeks....
And the Restrictions will get "stronger" again.

People in North/South America:

Do not forget. EUROPE is the Center of the Virus actual.
The Restriction "Harshness" that Europe has at the Moment (and that will get even harder because mainly the "Youth" acts very unreasonably ...) you may never reach.


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## Deleted User (Mar 24, 2020)

We are getting a reset once the Deep state is fully arrested - Arrests are happening now as I type - Expect big name disclosure soon.  Amazing times up ahead for humanity!


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## chrisrlink (Mar 24, 2020)

now total nuclear annhilation doesn't seem like a bad alternitive now we're screwed either way even if we personally don't get covid19 and die the impending riots, famine, total world economical collapse   WILL KILL US


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## Deleted User (Mar 24, 2020)

chrisrlink said:


> now total nuclear annhilation doesn't seem like a bad alternitive now we're screwed either way even if we personally don't get covid19 and die the impending riots, famine, total world economical collapse   WILL KILL US




That will not happen - Not allowed

Virus is slowing down in China and even Italy

Keep your cell phones close ladies and gentlemen


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## FAST6191 (Mar 24, 2020)

Were we not already?
Investors were investing in junk that could be replaced tomorrow and was barely worth it even as it stood (or outright not worth it -- Wework was just the latest in a long line of things), and while probably not the biggest bubble it is a good one.
Most people struggling to afford to either retire, buy a house or have kids depending upon which phase of life they were in and even education is hardly a preventer of that one.
Debt up to eyeballs, and little way through it, being nothing unusual for all of those (and plenty of businesses), and said retirement often being funded by a pyramid scheme with the next generation which is unlikely to come at this point.
Sustainable (and not in the hippy way) growth and rainy day funds being a thing of the past.
The actual epidemic of fat bastards probably going to push an already taxed system to breaking regardless of the location of its funding, but also will not kill people quick enough to reshape the population pyramid and fat bastards are also not the best workers (slow, sickly, tire easily, often medicated). The amount of people on head meds, and not entirely needlessly like the US was so famed for doing, also not help matters.
Automation looming to knock out the low skilled sector which, owing to basic biology, is a massive chunk of the population and there is no legislating around that one (even assuming you could get around the freedoms thing then simple economics will take care of that one -- someone sets up a new company or importer and goes from there, those left with a legacy workforce won't be able to compete).
Political cohesion at national and international levels at an all time low regardless of where you sit on the dozens of axes available for such opinions, and not much in the way of will to sort things.
All this might just speed up the timeline a bit (especially the automation timeline), though there would have been some shock to the system either way -- going by historical records we are somewhat overdue for a nice earthquake, volcano, solar flare, tidal wave, computer virus or actual big boy virus (human and animal, China seeing a nice pig one before all this kicked off and deer probably getting ready for a nice prion disease to pop and maybe migrate species to things people care more about) that has a kill rate and traits worth noting rather than just panicking a bit over.


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## Taleweaver (Mar 24, 2020)

Well... I won't lie that it's a possibility. The 2008 crisis was started with the collapse of US house prices, but that wasn't so much the cause as just the first falling domino piece of an unsustainable system. 
The problem : afterwards, the financial sector was never properly published. So rather than fixing the system, only the excesses were removed. But most economists didn't talk of 'if' a next crisis would occur but 'when'. 

This could very well be that 'when'. It's perhaps to really to tell how hard it'll hit us (it depends on how long this'll go on), but there's certainly going to be 'a' depression. 




JayMathis said:


> No as usual you're not really aware of the situation at hand. America is just about completely shut down. Eventually if we don't go back to work the economy will collapse if America collapses all other countries will too. Those are facts.


Erm... Mind explaining a few things there, captain obvious? 
At this point, Europe is equally if not more locked down than the USA. Africa and South America will soon follow. Asia is slowly recovering (and regaining economic activities) at this point. There'll be a hiatus, but since it's a temporary one, it could be overcome (though government intervention might be crucial for it).

What boggles me the most is this 'america collapses, the rest collapses'. That... I'm obviously curious how you get to that sort of conclusion,as I can't even comprehend why that would be. Trump has put threats and economic blockades for years. As an ironic result, most countries have looked for alternative trade routes already. Surely it'll have an impact, but the rest of the world can survive without the USA just fine.


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## Xzi (Mar 24, 2020)

At the very least we're in for a long, brutal recession.  The (US) government doesn't have any tricks left up its sleeve to stimulate the economy because they cut taxes and interest rates while the market was up, so I'd certainly expect this to be worse than 2008.


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## MikaDubbz (Mar 24, 2020)

I don't think it will be a depression so much as it will be a great and long recession.  Once Coronoavirus is resolved through a cure or running its course or whatever, everything will begin to bounce back.  It's not like all the businesses shutting down because of the virus are gonna be no longer desired after they can be open again.  In fact it seems likely that many businesses will be booming after this all dies down, as people are already eager to go back out again.


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## Xzi (Mar 24, 2020)

MikaDubbz said:


> I don't think it will be a depression so much as it will be a great and long recession.  Once Coronoavirus is resolved through a cure or running its course or whatever, everything will begin to bounce back.  It's not like all the businesses shutting down because of the virus are gonna be no longer desired after they can be open again.  In fact it seems likely that many businesses will be booming after this all dies down, as people are already eager to go back out again.


Everybody is itching to go back out again, but if we do that within the next few months, it's going to make the problem even worse and have an even bigger negative impact on the economy in the long term.  I think even with the most optimistic outlook, this is a 6 month endeavor at minimum.  Realistically closer to 12 - 18 months before all is said and done.


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## MikaDubbz (Mar 24, 2020)

Xzi said:


> Everybody is itching to go back out again, but if we do that within the next few months, it's going to make the problem even worse and have an even bigger negative impact on the economy in the long term.  I think even with the most optimistic outlook, this is a 6 month endeavor at minimum.  Realistically closer to 12 - 18 months before all is said and done.



Oh don't get me wrong, I'm not saying, lets get out there prematurely.  I'm just saying that we're in for a long recession, but as long as we handle it properly, we shouldn't see a true depression, and we'll be able to bounce back once the world is healthy again.


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## JayMathis (Mar 24, 2020)

Taleweaver said:


> Well... I won't lie that it's a possibility. The 2008 crisis was started with the collapse of US house prices, but that wasn't so much the cause as just the first falling domino piece of an unsustainable system.
> The problem : afterwards, the financial sector was never properly published. So rather than fixing the system, only the excesses were removed. But most economists didn't talk of 'if' a next crisis would occur but 'when'.
> 
> This could very well be that 'when'. It's perhaps to really to tell how hard it'll hit us (it depends on how long this'll go on), but there's certainly going to be 'a' depression.
> ...



Ok fine, if USA and China crash the world will crash. If you disagree with that you don't understand economics and where supplies are coming from. Like it or not your country is dependent of both.


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## KingVamp (Mar 25, 2020)

ModderFokker619 said:


> We are getting a reset once the Deep state is fully arrested - Arrests are happening now as I type - Expect big name disclosure soon.  Amazing times up ahead for humanity!


I like to know who is in this so called deep state. Who's getting arrested?


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## Taleweaver (Mar 25, 2020)

JayMathis said:


> Ok fine, if USA and China crash the world will crash. If you disagree with that you don't understand economics and where supplies are coming from. Like it or not your country is dependent of both.


I partially agree, yes. The world 's certainly has a very connected economy, so well drag each other down when the major countries drop out.

But I doubt it'll come to a total crash, for this very reason. Companies that go bust will leave a void that can (and will) be filled by others at some point, as supply and demand will pick up again.

It's interesting to see how countries will overcome this. I've got to be honest : your 'oh, right... And China as well' isn't so casual as you make it out to be. China has had a long state oriented approach with years of economic growth that allowed them to build up reserves. America's recent economic good years were marked by tax cuts and stagnated worker loans.

To put things in perspective : I'm personally put on 'unemployment by force of majority '(overmacht) meaning Belgian government and my company both pay me about 70% of my loan. Taxes will be lower as well (and Belgium has a huge tax rate). On top of that there's talk that gas and electricity bills will be temporary paid for, and it's possible that mortgages will be temporary put on hold as well (though that's still uncertain). As a result, I might actually BENEFIT from this situation. That probably seems weird to Americans (yup... That's socialism for you) but it means that as soon as this is over we can go back to spending things other companies make, basically ensuring OUR economy.

... which brings it back to that situation of shares economies. Again :we'll feel a big impact if companies or even countries go bankrupt... But I don't see that as likely if they haven't saved up for a situation like this.


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## Sonic Angel Knight (Mar 25, 2020)

I don't know what to think anymore. I am already depressed. I been depressed for years. Everytime I get told to cheer up or try to cheer up, something keeps bringing me back down. I don't know if I can trust my government. Many things happened over the years that just constantly makes me lose faith in almost everything. And excuse me for being conspiracy theories here, but who is to say that someone won't take advantage of this? I'm more certain about dying just from being poor and homeless than the virus being the cause of it.

I'm not trying to freak out here, but if what I just said isn't depressing enough, well I did say I was already depressed. I don't know how long this will take, but I just want to be sure I don't have nothing to worry about as long as I can. But I don't feel that way and I guess that explains this post in a nutshell.


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## Uiaad (Mar 25, 2020)

I'm not gonna lie, things could get pretty bleak for a while, but its gonna be bleak for everyone at least economically. Companies will fold and go out of business but eventually new ones will open and slowly but surely this will start getting better. I'm under no illusion that its going to be a long and difficult road but we are fantastic at rising from the ashes and building bigger and better than ever before. This will take time. 

TL;DR It's gonna be tough, but there's nothing we can really do, best you can do is keep you head down do what you can and just keep on going, Things will get better


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## subcon959 (Mar 25, 2020)

Anyone think UBI would've been handy right now?


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## Taleweaver (Mar 25, 2020)

...did I really just hear that the US government is going to spend 2 TRILLION dollars (2,000,000,000,000 dollars) in aid?


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## Alexander1970 (Mar 25, 2020)

Taleweaver said:


> ...did I really just hear that the US government is going to spend 2 TRILLION dollars (2,000,000,000,000 dollars) in aid?


2 Billion Dollars.


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## morvoran (Mar 25, 2020)

Due to the Trump administration creating such a big buffer for the US economy the past 3 years, the US will not suffer from a recession or depression.  The Dow is still higher today than it was when Obama left office and is starting to go back up, so that is a good indicator of how well our economy is doing.

Granted, due to past admins making us dependent on China to make most of our goods (including medicines), I am worried that if China doesn't eradicate the virus there and get their people back to work, the whole world will suffer, but I have faith that everything will work out before our economy is destroyed completely (on top of having a great president in charge that will not let that happen).


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## subcon959 (Mar 25, 2020)

Wow.. I can't.. just wow.


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## notimp (Mar 25, 2020)

morvoran said:


> The Dow is still higher today than it was when Obama left office and is starting to go back up, so that is a good indicator of how well our economy is doing.


What?


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## JayMathis (Mar 25, 2020)

subcon959 said:


> Wow.. I can't.. just wow.



Nobody knows what you're talking about. You can't what?


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## Thesolcity (Mar 25, 2020)

People are still going to die, a depression might accelerate that. It might be cynical but it keeps me in business.


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## weatMod (Mar 25, 2020)

ModderFokker619 said:


> We are getting a reset once the Deep state is fully arrested - Arrests are happening now as I type - Expect big name disclosure soon.  Amazing times up ahead for humanity!


ok Qoomer


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## weatMod (Mar 25, 2020)

Uiaad said:


> I'm not gonna lie, things could get pretty bleak for a while, but its gonna be bleak for everyone at least economically. Companies will fold and go out of business but eventually new ones will open and slowly but surely this will start getting better. I'm under no illusion that its going to be a long and difficult road but we are fantastic at rising from the ashes and building bigger and better than ever before. This will take time.
> 
> TL;DR It's gonna be tough, but there's nothing we can really do, best you can do is keep you head down do what you can and just keep on going, Things will get better


"Companies will fold and go out of business but eventually new ones will open and slowly but surely this will start getting better."
i don't think so , i   see us going into what i call the  "demolition man scenario"

"in the future all restaurants are taco bell"
they planned this all out , see event 201 that took place back in October

what wil happen is that a handful of Wall St. corporations  will get bailed out and everyone else will be gone ,  6 trillion dollar bailout 
4 trillion automatically goes to Wall st. , some of the other 2 will go to  cutting totally inadequate yang gang checks
of $1200 for 2 months ,  March/ April  - $1200 ,  May/June $1200
that is $600 a month for only 4 months , nobody can survive on that
i also fully expect "bail  ins" or "haircuts" to take place fairly soon ,  there will b ebank runs and if you have money there it will be taken
banks are going to fail , and the FDIC is not going to be able to make whole those deposits because they only have  roughly $50 billion
to cover the  $1 trillion in deposits they are supposed be insuring
no body is working so nobody can pay their rent  so the landlords can't pay their mortgages , if the banks are not getting those mortgages
they will fail  and fail big , and it won;t be like 2008 it will  be  because of actual tangible   logistical reasons not just  some  MBS/CDO scam on paper
there are going to be major bank failures and there will no no capital  if we survive this i expect there to be  maybe 2 or 3  companies that own literally everything that are basically  state controlled or merged with the state because they   will be getting bailed out
 maybe walmart and amazon and    maybe target and  owes or home depot will own literally everything
maybe someone else like YUM brands will buy up a small fraction of all the bankrupt restaurants and food businesses , hence all restaurants are taco bell
most people will be at the  mercy of a total monopoly for not just all foods and other consumer items but also for employment
it looks pretty bleak


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## Flame (Mar 28, 2020)

alexander1970 said:


> 2 Billion Dollars.



nope 2 trillion.

its that serious.


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## DJPlace (Mar 28, 2020)

it's like a 100 years ago when america was in a depression but this is  a different depression nothing about money. (god i need to reach more...)


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## Flame (Mar 28, 2020)

DJPlace said:


> it's like a 100 years ago when america was in a depression but this is  a different depression nothing about money. (god i need to reach more...)



yep. but governments are still bailing out the companies and the top 1%

while people are dying and the future looks dark.


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