The Myth Of A Rapid Economic Recovery Once Quarentines Are Lifted

originally posted by: AugustusMasonicus

Everyhting is going to be just like before. For serious.

Spoke to a friend fo mine yesterday who works for one of the most famous luxury goods brands in the world, they are all furloughed right now but will get their jobs back next month.

At a 20% pay reduction. They don't really need that money anyway.

For serious or for sarcastic? i wouldn't base any over all economic forecasts on a luxury brand company, which is niche and caters to the rich who actually have assets and savings to weather the storm.

originally posted by: AugustusMasonicus
a reply to: FauxMulder

The fact that I can't stand him but agree that he's absolutely correct shows the level of stupid we've sunken to.

It's all gonna be okay, all the people not making what they made before will just run right back out and spend money they don't have on things they can't get.

I guess you were being sarcastic sorry XD

originally posted by: Generation9
All you need to know is that the global elect are running the stock market on a forty week cycle.

Sure.

originally posted by: themessengernevermatters
For serious or for sarcastic? i wouldn't base any over all economic forecasts on a luxury brand company, which is niche and caters to the rich who actually have assets and savings to weather the storm.

Totally serious. That's 20% of everyone's salary that they no longer have to spend. It isn't the company I'm concerned about, it's their employees.

Saw 2 more moving trucks at two more shops in our village today emptying out their inventory and display units. They know the tourist industry is finished. People are afraid and will just stay home and watch Netflix and order delivered "takeout"

Our union is telling the members to get ready for a bonanza of movie and TV projects greenlighted for the 505.
I've been working at the studio polishing up TV pilot scripts and making shot lists... getting ready for the 15th when our Gov. cuts us loose to start shooting on location again. I'm ready!

Excellence in Administration

Millions of People Will Face Stimulus Check Delays Simply Because They Are Poor

More than 70% of jobless Americans did not receive March unemployment benefits: study

Whole new level of bollocks with it's revolutionary "eat some cake" moment of sorts on all programs. Everything is OK, innit? Revolutions and hangry lootings by summer or what's this new normal we're going for here?

a reply to: PublicOpinion

According to this article Germany is calling out the Eurozone QE for accountability.

www.cnbc.com...

Probably just another red herring report from steerage

a reply to: Slichter

"The Bundesbank [Germany's central bank] will — after a transitional period of three months — be barred from taking part in the ECB's PSPP program."

Commerzbank Chief Economist Jörg Krämer is certain, though, that the bond buying scheme will continue. "The ECB will have to prove now that the program is really proportionate so as to win approval by the German government and lawmakers — given the large group of experts at the ECB, that shouldn't be much of a problem."

Top German court says ECB bond buying scheme partially contravenes the law

Increased accountability in the Age of Stock-buybacks? Sure. That's what's happening here, can't be a smokescreen the AFDP and CSU provided ...

Kids! Don't you dare to listen to your lying ears! No, do not look around with your lying eyes, either!

We're together in this so much... trust me!

*twohandedfingerheart*

Amid dire unemployment numbers that were released Friday morning, President Donald Trump made a bold promise that “those jobs will all be back and be back very soon” — an outcome that many economists over the past few weeks have said is highly unlikely.

Evil Communist Propaganda

Calm down, unwashed masses! There's a few spare jobs in the national fridge for bad days in a 'work sets you free' world, everybody can come and get some. Plus we're working on the machines of loving grace to reanimate dead jobs with... what? No! Not Steve Jobs, idiots! Jobs in general, they will be back!

Alright. Ok, Ok! Stop yelling already! We'll reanimate Steve Jobs as well when you ate your sh!t like a good, law abiding sh!tizen. Deal? Greatest deal you'll get, ever. Take it!

a reply to: PublicOpinion

Oh, I feel so much better now, Donald Trump said it's going to be all fine.

I'm sure all the people working for companies that filed for bankruptcy due to the shutdowns fell good too now. Bigly winning.

Yay! More good news:

25,000 stores are predicted to close in 2020, as the coronavirus pandemic accelerates industry upheaval

• U.S. retailers could announced between 20,000 and 25,000 closures this year, according to a tracking by Coresight
  
• Research, with 55% to 60% of those situated in America's malls.
  
• That would also mark a new record for the industry.
  
• Coresight was previously forecasting there could be more than 15,000 store closures announced by retailers in 2020.

Source

a reply to: AugustusMasonicus

Didn’t the riots and looters and burners help all the businesses?

How many businesses did Trump order closed versus the collective of governors?

Can you fairly gauge the recovery when things are still closed? Kings Island and Cedar Point are still ordered closed in Ohio for example.

a reply to: Ahabstar

These are mostly national chain stores in malls which are for the majority still closed. The closures were due to the highly incorrect data we relied on about the 'epidemic'.

More economic good times are coming.

a reply to: AugustusMasonicus

In the words of that great Chinese philosopher Confucius; We're #ed!

a reply to: Freeborn

It's gonna be a fun next couple of years while industries and companies collapse putting many out of work and impacting their earnings and savings.

a reply to: AugustusMasonicus

I’m of the mind if is not made in the US by US workers, it needs to go out of business. French wine? Who cares, you can get just as drunk on the Napa Valley stuff and pay nearly as much for it. Cheap buzz is your local vineyard/winery.

No trade war with China if people just don’t buy their junk. Won’t even need tariffs, just good old ethnocentrism and xenophobic isolation mixed with some yellow journalism propaganda.

originally posted by: Ahabstar
I’m of the mind if is not made in the US by US workers, it needs to go out of business.

Pretty shortsighted take on trade since we've had international trade since before we were a country.

I'm sure the 300 GNC's listed, with their US produced supplements, are thrilled that the fact that their stuff is made here is protecting them. Oh, wait.

a reply to: AugustusMasonicus

I don't think most people realise just how bad this could be.

A lot of businesses like pubs, cafe's, restaurants, cinema's etc are still unable to open over here. Even hairdressers.
When they are allowed to open guidelines are expected to be that restrictive that it will not be economically viable to open.

Napoleon was right when he called us a nation of shopkeepers.
I suspect that will no longer be true when the full effect of this lockdown is felt.

Social distancing rules will cause immense difficulties for many engineering and other factory operations.

The UK car industry is likely to be more or less redundant without a government backed scrappage scheme.

Basic economics; more people unemployed means less people paying tax and more people receiving benefits so less money for the government to fund aid packages.(Shouldn't mention such a socialist concept here on ATS should I).
Those people will not have anywhere near as much money to spend meaning more businesses come under threat of closing.

It's not a hard concept to understand even for someone like myself who finds economics and finance about as clear as your Mississippi river.

Me and a friend had a couple of start up ideas for when lockdown was/is eased.
These would have indirectly aided several other small businesses in the local area.
We were relying on the good will and assisitance of the local council and bearing in mind the current climate we, perhaps naively, assumed it would be forthcoming. But no, they want full payment from the beginning for rent of their properties, rent that makes these ventures far too much of a risk for either of us to continue with at present.
The local council has had funding cut from central government and their own income has become almost non-existent during this pandemic.
They need money to provide services....money they haven't currently got.
Do they borrow money today and worry about paying it back later? Never a good idea in my book.

We plan to leave it for a few weeks then approach them again, I'm not hopeful though.

This will be occuring the length and breadth of this country.
And most likely in most other country's too.

The other half thinks we should just print more money or borrow more.
Bless.

a reply to: Freeborn

Your post is 100% correct and 100% sad.

I am very concerned for the short to mid-term financial well being of many.

originally posted by: Ahabstar
a reply to: AugustusMasonicus

I’m of the mind if is not made in the US by US workers, it needs to go out of business. French wine? Who cares, you can get just as drunk on the Napa Valley stuff and pay nearly as much for it. Cheap buzz is your local vineyard/winery.

No trade war with China if people just don’t buy their junk. Won’t even need tariffs, just good old ethnocentrism and xenophobic isolation mixed with some yellow journalism propaganda.

If you think American corporations are going to pay even min. wage, you don't know how how strong the profit motive is.

Here's what will happen...Plenty of Chinese products on American shelves but the export manifest will be from Israel or Mexico. Cheap buzz indeed....Wholesalers and jobbers will have plenty of imported products to satisfy the retailers.