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Update: 6.6 million job losses vs. 3.1 Million expected for last week

Discussion in 'GatorNana's Too Hot for Swamp Gas' started by WarDamnGator, Apr 2, 2020.

  1. NavyGator93

    NavyGator93 GC Hall of Fame

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    Most people know you should have an emergency fund but not everyone can put money towards it.

    From the info I am seeing, getting furloughed or canned right now isn't horrible for the person, I think most people making 40k or under should be close to whole.

    I am concerned about the businesses that will shut down and how many will not be able to restart.
     
  2. carpeveritas

    carpeveritas GC Legend

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    Nonsense an entire nation staying at home for extended duration of time will be more destructive to society as whole. Stay at home and wait for the government to deliver cheese to your door. These are the choices we face
     
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  3. defensewinschampionships

    defensewinschampionships GC Hall of Fame

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    I agree with you some people can't put enough money into an emergency fund. But EVERYONE can live below their means and save a little. I think people will adjust their spending levels to make this happen going forward - after the crisis
     
  4. PerSeGator

    PerSeGator GC Legend

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    So most of the country staying at home and telecommuting for a few months while mostly low income service workers take temporary unemployment benefits is more destructive than allowing the virus to propagate uncontrollably, leading to literally millions of deaths and tens of millions of hospitalizations? To say nothing of a completely overwhelmed health care system that loses its ability to fight all the other diseases that continue to occur?

    Uh huh.
     
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  5. NavyGator93

    NavyGator93 GC Hall of Fame

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    Too bad it takes a crisis. Hard to get basic financial knowledge for some people when they have never had it growing up.
    My teen sons have been sitting with me off and on for years every saturday when I go through my personal finances, pay bills.....
    I wasn't taught that as a child, had to learn on my own. Luckily my first tour in the Nav I got to spend a lot of time with a guy who taught me the basics.
     
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  6. philnotfil

    philnotfil GC Hall of Fame

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    If people need to have emergency fund, and corporations are people, do corporations also need emergency funds?
     
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  7. 96Gatorcise

    96Gatorcise GC Hall of Fame

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    Unfortunately I disagree. Once this passes, out of sight out of mind for many.
     
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  8. carpeveritas

    carpeveritas GC Legend

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    So you believe the majority of the country is telecommuting? I certainly don't. Farms need to be tended to. Crops need to be harvested. Deliveries need to be made to your local grocery store. Shelves need to be stocked. Gas stations need to remain open. Ports need to remain open and ships with commodities need to be unloaded. Road repairs need to be taken care of. Utilities need to be maintained (electric / water). Auto / truck repair and parts need to remain open. Railways, airports and transportation routes need to remain open. Cargo planes need to be unloaded. Mail needs to be sorted and delivered. The list goes on and on. Flip those switches off and everything comes to a halt. Facilities need to cleaned and maintained. What's worse is turning all them back on is no easy task.

    People need to get paid to take care of their own financial situations. Not to mention the people who do all of the aforementioned are the lifeblood of this nation. Those very people are the ones at the moment who are sustaining this nation. Those very people are the ones taking the risk and you're the one hoping what ever you eat, what ever is delivered to your door, what ever you purchase at the store is safe.

    It's time get real about what we are doing and inflicting upon ourselves.
     
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  9. PerSeGator

    PerSeGator GC Legend

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    None of these services have shut down. What are you even talking about?
     
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  10. carpeveritas

    carpeveritas GC Legend

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    Early in life I did all of the finances and after I got married I taught the wife and she took over. Needless to say she was the one who passed first so I am back to doing my own finances and my own taxes. Our thoughts early on were I would be the one to pass away first and she would need to do the finances. We also understood that all income regardless or where it came from was ours. No separate checking / saving accounts either we're going through this world together or we are not. Of course like any family there were always financial agreements and squabbles but we made it work.
     
    Last edited: Apr 2, 2020
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  11. AgingGator

    AgingGator GC Hall of Fame

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    The medicine is already worse than the disease, and we have really just started taking the medicine.

    The notion that most people will be made whole is absurd. We just stopped a 1 mile freight train in 1/4 to 1/2 mile. When you do that, you have derailed cars or damaged wheels. Neither allows that train to quickly get back up to 60mph. Getting the economy back to full speed is going to take years, Trillions of $ printed money, and a lot of pain for 90 -95% of the population
     
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  12. exiledgator

    exiledgator Gruntled

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    6M jobs lost / DJIA up 2%

    Crazy times we're living in.
     
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  13. GCNumber7

    GCNumber7 GC Hall of Fame

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    People that lost their jobs give a flip. Small business owners that will be ruined give a flip. We all understand that we need to take the virus very seriously but this isn’t a Trump issue. The lockdown is having devastating effects on real people. If this extends beyond the next few weeks we are going to have to be grown ups and have a real conversation about how we move forward.
     
    Last edited: Apr 2, 2020
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  14. carpeveritas

    carpeveritas GC Legend

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    Your right they haven't yet but discussions are already being held on limiting flights to certain areas in the US. US travel for the most part has been shutdown with stay at home mandates. Restaurants, cinemas, hotels, entertainment industries, parks, bus service, subway service, cab services, schools, universities, zoos, museums, and much more have all been shutdown entirely or hobbled to the point people are out of work. How many businesses will come back remains to be determined.

    Who do think pays the wages of those that are doing the tasks I mentioned in previous post. The end consumer provides for wages and profits none of it is free regardless of what our politicians tell you. Enjoy that $1200.00 check because it may well be the last one you get.
     
  15. GCNumber7

    GCNumber7 GC Hall of Fame

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    Telecomuting won’t last when this starts dragging whole industries to the ground.
     
  16. dingyibvs

    dingyibvs Premium Member

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    Did you think there would be no job losses if we let the pandemic run its course? Would people pack restaurants, arenas, and gyms if thousands are dying each day? Some, if not much, of those job losses are a part of the disease as well.
     
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  17. g8rjd

    g8rjd GC Hall of Fame

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    Oil moved it up, likely.
     
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  18. dingyibvs

    dingyibvs Premium Member

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    How will a war help? When's the last time a war helped our economy? WWII? Nuclear weapons have happened since then, so even that's no longer a possible way out.
     
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  19. PerSeGator

    PerSeGator GC Legend

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    Incorrect. The virus is causing these issues, not the government. The NBA didn’t shut down because the government told it to. It did that on its own. As did countless other businesses. They aren't going to open up again until the virus is under control.

    The reality is it doesn’t matter whether there are stay at home orders or not. So long as the virus is rampaging through our population, people -- through individual choices -- are going to stay at home. That means no customers, which means no business.

    There just isn’t a choice between “business as usual” and a lock down. Even if the government tried to tell everyone "act like nothing is wrong -- go out and work and shop" who is going to listen? Some, sure. But nearly enough for the economy to come back to what it was? Not a chance. The economy doesn't run by government edict. It runs by individuals. And those individuals don't want to get the virus. It's as simple as that.

    If we go the free for all route, it's just going to prolong the pain. Not only will we have major economic disruption, but we aren't going to be able to get the virus under control. So that means continued economic disruption that will just get worse and worse as the virus gets worse and worse. What do you think is going to happen if the health care system collapses? If literally millions of people are dying on the streets? That's going to be a hell of a lot worse for the economy than Applebees closing for a few months.

    Yeah the shut down sucks. Yeah we all want things to go back to the way they were. But y'all need to start recognizing reality. Pie in the sky fantasies where we wish the virus away don't help anyone. We need a concerted effort to get this thing under control. And we need it now.
     
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  20. BLING

    BLING GC Hall of Fame

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    Critical infrastructure is still going, this just shows how much of our economy is actually based on frivolous entertainment related stuff. Travel. Vacations. Sports. Dining Out.... even business travel. These activities are going to be 90% down regardless of whether you "allow" them or not. You can either leave them 100% down, or allow 10% to have some "fun" while they are spreading the virus and dragging this thing on. But whether you are down 100% or 90% you are still losing almost all of that leisure and dining out economy. (and yeah I realize that many restaurants are still getting ~10% of business through take-out model and whatnot, but clearly even the ones that are still opened are just in survival mode).

    If there were a 100% shutdown. As in everything ceased with 100% isolation, this whole thing could be over in a month. But because that clearly can't happen (and indeed critical supply chain and infrastructure needs to keep going, people need to eat, etc), we are going to be dealing with this s*^& over the course of many months. The people complaining should just realize the less amount of "compliance" means this thing drags on longer as more and more of the infection spreads. The closer to 100% perfect social distancing and isolation, the sooner it can be over and the sooner some semblace of normalcy can return (albeit probably not "full go" until their is a proven vaccine or we see the curve almost down to zero on it's own).
     
    Last edited: Apr 2, 2020
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