BREAKING: 5 Million people filed for unemployment last week. 22 million in four weeks.

[KillerB88]

As scary as these numbers are, can’t lose sight of the fact that these jobless numbers aren’t comparable to standard jobless numbers. Once the country opens back up (even if this drags on for longer then people want), a significant number of those jobs will come back.

I can't stand discussing certain topics with people like you. This was your original comment. You made ablanket ass statement about the FUTURE job market in response to a crisis that's currently ongoing.

It took YEARS for people to recover from that relatively soft-handed recession in 08. Now we're in the midst of a GLOBAL economic crisis with no definitive end in sight.

Your comment is equivalent to someone on the last day of Fall saying, "Spring will be here eventually". Well no shyt Sherlock!
But first we have to endure this Winter. Will it be historically cold? Mild? Long? Short? Will there be blizzards and snowstorms?

A meteor didn't strike the Earth. Of course at some point in the future there will be normalcy and folks will be able to find work. But to say it in such a flippant manner as if there isn't a ton of mud to trudge through getting there is downright comical.

 

[R.E.N. Spells Ren]

I can't stand discussing certain topics with people like you. This was your original comment. You made ablanket ass statement about the FUTURE job market in response to a crisis that's currently ongoing.

It took YEARS for people to recover from that relatively soft-handed recession in 08. Now we're in the midst of a GLOBAL economic crisis with no definitive end in sight.

Your comment is equivalent to someone on the last day of Fall saying, "Spring will be here eventually". Well no shyt Sherlock!
But first we have to endure this Winter. Will it be historically cold? Mild? Long? Short? Will there be blizzards and snowstorms?

A meteor didn't strike the Earth. Of course at some point in the future there will be normalcy and folks will be able to find work. But to say it in such a flippant manner as if there isn't a ton of mud to trudge through getting there is downright comical.

Yes and I haven’t changed from that stance.

Try to pay attention: My only assertion was that the magnitude of truly unemployed due to the recession is lesser than the raw numbers of folks who apply for unemployment. So if 40 million end up going on unemployment cuz of Covid closures that’s not comparable to 40 million going on employment cuz of a regular recession, since reopening the economy will have an immediate impact on decreasing joblessness. It’ll probably take longer to recover from this than it did 2008, but in reality we’ll be recovering from a number less than 40 million.

 

[null]

Yes and I haven’t changed from that stance.

Try to pay attention: My only assertion was that the magnitude of truly unemployed due to the recession is lesser than the raw numbers of folks who apply for unemployment. So if 40 million end up going on unemployment cuz of Covid closures that’s not comparable to 40 million going on employment cuz of a regular recession, since reopening the economy will have an immediate impact on decreasing joblessness. It’ll probably take longer to recover from this than it did 2008, but in reality we’ll be recovering from a number less than 40 million.

 

[TRUEST]

I can't stand discussing certain topics with people like you. This was your original comment. You made ablanket ass statement about the FUTURE job market in response to a crisis that's currently ongoing.

It took YEARS for people to recover from that relatively soft-handed recession in 08. Now we're in the midst of a GLOBAL economic crisis with no definitive end in sight.

Your comment is equivalent to someone on the last day of Fall saying, "Spring will be here eventually". Well no shyt Sherlock!
But first we have to endure this Winter. Will it be historically cold? Mild? Long? Short? Will there be blizzards and snowstorms?

A meteor didn't strike the Earth. Of course at some point in the future there will be normalcy and folks will be able to find work. But to say it in such a flippant manner as if there isn't a ton of mud to trudge through getting there is downright comical.

Wise man.

 

[R.E.N. Spells Ren]

Is there a point to quoting me with this? Does it contradict what I’m saying?

 

[null]

Is there a point to quoting me with this? Does it contradict what I’m saying?

Deflationary Spiral​

I just mean that deflationary effects can overpower any attempts to restart the economy and could not only prevent the economy from returning to its previous state but could drive the economy even further down and unemployment even further up.

Because of the suddenness and magnitude of this falloff, because of the global nature of this problem (which kills export demand and international trade), because the international aspects are outside of national control (and scarcity typically leads to protectionism) and most importantly because of the persistent deadly virus which precludes much of the economy operating this could very well be more severe than 40 million being unemployed during a normal recession.

Future confidence is essential to avoid hording and maintain or increase money velocity. Once the reality of our situation sinks in, in particular the likely length and severity of the downturn, this will feedback to further depress activity. That is why governments are not making clear official statements about the severity of the problem which we face. They are so eager to avoid this mindset setting in that they are printing helicopter money, throwing trillions at companies and are willing to TRY TO kick-start some parts of the economy even though they know deaths will spike again.

Unfortunately they have little control over the psychology, little control over the international aspects and little control over the virus.

You can open any shop you like like but without demand it is moot. You can tell people to return to "normal life" but people will put "staying alive" first. You can tell people to spend but if they feel they will need the money more in the future or that they will get more for their money in the future they will hoard it. You can tell companies to invest but in a high risk environment investment, projects and discretionary spending like marketing will suffer.

Already we have ...

Coronavirus threat on International Space Station after Russian launch official tests positive | Daily Mail Online

Americans Remain Risk Averse About Getting Back to Normal

 

[R.E.N. Spells Ren]

Deflationary Spiral​

I just mean that deflationary effects can overpower any attempts to restart the economy and could not only prevent the economy from returning to its previous state but could drive the economy even further down and unemployment even further up.

Because of the suddenness and magnitude of this falloff, because of the global nature of this problem (which kills export demand and international trade), because the international aspects are outside of national control (and scarcity typically leads to protectionism) and most importantly because of the persistent deadly virus which precludes much of the economy operating this could very well be more severe than 40 million being unemployed during a normal recession.

Future confidence is essential to avoid hording and maintain or increase money velocity. Once the reality of our situation sinks in, in particular the likely length and severity of the downturn, this will feedback to further depress activity. That is why governments are not making clear official statements about the severity of the problem which we face. They are so eager to avoid this mindset setting in that they are printing helicopter money, throwing trillions at companies and are willing to TRY TO kick-start some parts of the economy even though they know deaths will spike again.

Unfortunately they have little control over the psychology, little control over the international aspects and little control over the virus.

You can open any shop you like like but without demand it is moot. You can tell people to return to "normal life" but people will put "staying alive" first. You can tell people to spend but if they feel they will need the money more in the future or that they will get more for their money in the future they will hoard it. You can tell companies to invest but in a high risk environment investment, projects and discretionary spending like marketing will suffer.

Already we have ...

Coronavirus threat on International Space Station after Russian launch official tests positive | Daily Mail Online

Americans Remain Risk Averse About Getting Back to Normal

Ok we’ll just have to wait and see how it plays out. I just know that once the restrictions are lifted there will be a mass rehiring. Of course many/most even won’t get rehired, but a significant amount will. Where we go from there is anyone’s guess. We’re in a recession/depression for sure.

 

[KillerB88]

Ok we’ll just have to wait and see how it plays out. I just know that once the restrictions are lifted there will be a mass rehiring. Of course many/most even won’t get rehired, but a significant amount will. Where we go from there is anyone’s guess. We’re in a recession/depression for sure.

 

[R.E.N. Spells Ren]

You act like I’m saying contradictory stuff.

Best Buy just furloughed 51k employees. Even if they only bring back 20k of those employees after they’re allowed resume business, that’s a significant amount. 51k Best Buy employees claiming unemployment cuz of this pandemic isn’t the same as 51k Best Buy employees being let go due to normal circumstances such as poor company performance. That’s the only point I was making. Not sure why this has ruffled your feathers so much.

 

[mykey]

I know what I’m talking about. Do a google search on the image.

It’s the album cover for an Old School mixtape that for some reason was pulled out of circulation back in 2014. There’s mixes on that album that I CANNOT find anywhere.

Oh, I see. Well, I suppose whoever made this playlist must have jacked Banksy's artwork for the album cover, idk.
BanksyBanksy

 

[The M.I.C.]

Oh, I see. Well, I suppose whoever made this playlist must have jacked Banksy's artwork for the album cover, idk.
BanksyBanksy

I’m suspecting that’s why the album might’ve been pulled.