Corona Virus, Are we headed for a Great Depression?

[SG854]

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

 

[spotanjo3]

You worry too much. SMH.

 

[JayMathis]

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.

 

[spotanjo3]

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.

 

[JayMathis]

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

 

[VinsCool]

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.

 

[Flame]

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.

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.

 

[teamlocust]

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

 

[Alexander1970]

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.

 

[Deleted User]

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!

 

[chrisrlink]

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

 

[Deleted User]

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

 

[FAST6191]

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.

 

[Taleweaver]

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.

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.

 

[Xzi]

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.

 

[MikaDubbz]

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.

 

[Xzi]

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.

 

[MikaDubbz]

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.

 

[JayMathis]

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.



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.

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.

 

[KingVamp]

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?