Corona Virus, Are we headed for a Great Depression?

[Taleweaver]

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.

 

[Sonic Angel Knight]

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.

 

[Uiaad]

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

 

[subcon959]

Anyone think UBI would've been handy right now?

 

[Taleweaver]

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

 

[Alexander1970]

...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.

 

[morvoran]

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).

 

[subcon959]

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

 

[notimp]

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?

 

[JayMathis]

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

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

 

[Thesolcity]

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

 

[weatMod]

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

 

[weatMod]

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

 

[Flame]

2 Billion Dollars.

nope 2 trillion.

its that serious.

 

[DJPlace]

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...)

 

[Flame]

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.