Thread: 2020 Recession

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  1. #261
    Quote Originally Posted by lockybalboa View Post
    Looking at the ridiculous amount of time you spend and amount of rubbish you spout on this forum even before the virus came about you are obviously some fucking slacker who get paid for slacking at your job if you even have one at all. If I were your superior wasters like you would be the first out of the door. Social welfare shouldn't be fucking wasted on people like you
    The only one who is full of shit here right now is you. Go preach your Corona flu media stunt to your fellow rednecks.

    What I do with my time is of no your concern, I'm a dev working from home period right now and I'm lucky I can do this, unlike 20% of population that found themselves out of job in matter of 10 days, because media stunt durr.

    Anyone with a pinch of common sense can see the shit is real. It's not some doomsday preaching, it's a full blown crisis and a very real danger to be careful of.

    No we won't be in Mad Max world in a year, but you WILL have hundreds of thousands dead by the end of it and you will have people on the streets too. This will take years to recover.
    Last edited by Gaidax; 2020-03-25 at 12:37 PM.

  2. #262
    Quote Originally Posted by CommunismWillWin View Post
    Don't worry, we'll get to see what Covid does without it getting slowed down in a bunch of US states, you'll get your wish.
    Wish for what? I am not Trump or the governors what the fuck do you want me to do? Sob in bed and whine in forums all day?

  3. #263
    The Insane Acidbaron's Avatar
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    Quote Originally Posted by lockybalboa View Post
    Nah retards are people like you who hoard toilet papers and preach fucking doomsday prophecies in forums all day and do nothing constructive. 700 people dead each day! Fucking doomsday is coming. We've never had hundreds of people dead from illnesses everyday ey? We already have isolation measures in place, then what more do you fucking want? If you are that heroic go to fucking hospitals or donate some quid and help out instead of QQing in the forums all day then? What have you fucking done for the situation except to whine and sob all day mate? You deserve a fucking Nobel Prize for repeating this shit ey?
    You could also go out and get it and post your findings here, i mean that sure would proof us all wrong. It is just a flu after all.

  4. #264
    Merely a Setback CommunismWillWin's Avatar
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    Quote Originally Posted by lockybalboa View Post
    Wish for what? I am not Trump or the governors what the fuck do you want me to do? Sob in bed and whine in forums all day?
    But you're already doing that.
    Joe Biden is a rapist and his supporters are rape apologists

  5. #265
    The Insane Acidbaron's Avatar
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    Quote Originally Posted by CommunismWillWin View Post
    Don't worry, we'll get to see what Covid does without it getting slowed down in a bunch of US states, you'll get your wish.
    Actually he'll be proven wrong, despite local governments action to prevent it that is causing some delay but not for long since everyone has to comply or it keeps spreading anyway.

    It is still as we call it here "far away from my bed show" for some, the closer it hits home the harder reality becomes to deny.

  6. #266
    Quote Originally Posted by CommunismWillWin View Post
    But you're already doing that.

    The whiners are the ones raging at me for not panicking like a mouse

    - - - Updated - - -

    Quote Originally Posted by Acidbaron View Post
    Actually he'll be proven wrong, despite local governments action to prevent it that is causing some delay but not for long since everyone has to comply or it keeps spreading anyway.

    It is still as we call it here "far away from my bed show" for some, the closer it hits home the harder reality becomes to deny.
    Ok i get it. The disease is infectious. 2% mortality rate. Then what?What more is there to do but to sit and wait it out? I mean do you spend every waking minute worrying about getting ill the next day and some other misfortunes. What more can we do but to follow guidelines and take precautions? I'm just saying it's not a doomsday scenario and people just rage at me for no reason

  7. #267
    Quote Originally Posted by Chairman Sheng-Ji Yang View Post
    If we were living in a World with no healthcare, were as soon as one would get sick we'd consider him done for, that virus wouldn't make much of a difference indeed.

    Because that is what this disease is creating, a situation were healthcare facilities become so overwhelmed that not only salvageable new coronavirus cases cannot be treated, and thus become doomed to die, but all the other normal time patients face a situation where they might not be able to receive necessary care : ones appendicitis, another's car accident, that mother who faced complications in labor, this kid with severe asthma...

    In countries such as Italy, France and Spain, we've got situations where :
    -people are left to die, doctors having to select which patients they'll try saving
    -some retirement homes have been outright abandoned, most if not all their residents dying, the most lucky at least receiving palliative care.
    -less lucky ones are dying alone in their homes, or sometimes with an equally aged relative, with the corpse remaining for days before the overwhelmed funeral services can recover it
    -the health workers themselves are heavily afflicted, making a significant percentage of case, taking casualties when they're the most needed.
    oh ... wait just a week and US will be way passed that point with the speed that infection spread.

  8. #268
    The Insane Acidbaron's Avatar
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    Quote Originally Posted by lockybalboa View Post

    Ok i get it. The disease is infectious. 2% mortality rate. Then what?What more is there to do but to sit and wait it out? I mean do you spend every waking minute worrying about getting ill the next day and some other misfortunes. What more can we do but to follow guidelines and take precautions? I'm just saying it's not a doomsday scenario and people just rage at me for no reason
    The situation is dire, asking people to not become comfortable about this is wise, nobody is asking people to worry to the point they panic. As for people raging at you, looking at your last few posts acting the victim here is misplaced.

    - - - Updated - - -

    Quote Originally Posted by kamuimac View Post
    oh ... wait just a week and US will be way passed that point with the speed that infection spread.
    No actions being taken such as a total lock down or enforcing social distancing leads to a doubling of the infections every third day.

  9. #269
    Quote Originally Posted by lockybalboa View Post
    Ok i get it. The disease is infectious. 2% mortality rate. Then what?What more is there to do but to sit and wait it out? I mean do you spend every waking minute worrying about getting ill the next day and some other misfortunes. What more can we do but to follow guidelines and take precautions? I'm just saying it's not a doomsday scenario and people just rage at me for no reason
    The literal mass-societal treatment for this is to sit in your home and play video games for 60 days. And when you go out, which should be rarely, engage in social distancing. And you should wash your hands with soap and water frequently.

    Economically, it is a doomsday scenario, but that boat has sailed. We're already going to face a $3 trillion deficit this year, Unemployment in the range of 15%-30% and ~40% annualized GDP contraction. It's going to take a decade to fully recover from this. Some people never will.

    All for an avoidable catastrophe because Donald Trump ignored US intelligence and spent 2 months mean tweeting.

    But make no mistake, with the population of China, South Korea, Japan, India, the European Union, the United States, Canada and many, many smaller countries in between on formal or de facto lockdown, most of the global economy and international travel all but halted, this is the biggest single event since the Second World War. And because of our larger population than the 1940s, it's effecting far, far more people. It's far bigger than the financial crisis, 9/11 or fall of the Soviet Union.

    Its ramifications may very well define the 21st century. And it certainly will do so far more than 9/11 / the War on Terror and the Financial Crisis. Not that they weren't important. But this changed the lives of well over half the world's population in about three weeks. In some cases over night.

  10. #270
    Old God Vash The Stampede's Avatar
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    Quote Originally Posted by Skroe View Post
    Economically, it is a doomsday scenario, but that boat has sailed. We're already going to face a $3 trillion deficit this year, Unemployment in the range of 15%-30% and ~40% annualized GDP contraction. It's going to take a decade to fully recover from this. Some people never will.
    The truth is we never recovered from 2008, hence why this is so bad now. We need to change the fundamentals of how our economy should work if we have any hope of recovering. To continue as pre-corona would doom some people into perpetual poverty.
    All for an avoidable catastrophe because Donald Trump ignored US intelligence and spent 2 months mean tweeting.
    As most children do.

  11. #271
    Quote Originally Posted by Skroe View Post
    The literal mass-societal treatment for this is to sit in your home and play video games for 60 days. And when you go out, which should be rarely, engage in social distancing. And you should wash your hands with soap and water frequently.

    Economically, it is a doomsday scenario, but that boat has sailed. We're already going to face a $3 trillion deficit this year, Unemployment in the range of 15%-30% and ~40% annualized GDP contraction. It's going to take a decade to fully recover from this. Some people never will.

    All for an avoidable catastrophe because Donald Trump ignored US intelligence and spent 2 months mean tweeting.

    But make no mistake, with the population of China, South Korea, Japan, India, the European Union, the United States, Canada and many, many smaller countries in between on formal or de facto lockdown, most of the global economy and international travel all but halted, this is the biggest single event since the Second World War. And because of our larger population than the 1940s, it's effecting far, far more people. It's far bigger than the financial crisis, 9/11 or fall of the Soviet Union.

    Its ramifications may very well define the 21st century. And it certainly will do so far more than 9/11 / the War on Terror and the Financial Crisis. Not that they weren't important. But this changed the lives of well over half the world's population in about three weeks. In some cases over night.
    1914 enough said
    1929 Depression
    1939 enough said
    1948 Cold War begins & PRC established following year
    1958 Great Leap Forward and Berlin Crisis (cementing the Berlin Wall and the Iron Curtain)
    1968 peak Boomer and a grim year for Praag and Czechoslovakia
    1973 1st Oil shock
    1979 2nd Oil shock, islamic revolution in Iran, Soviet invasion of Afghanistan (those guys have not had peace for 40 years now...)
    1989 fall of Berlin Wall, prelude to the collapse of the Soviet Bloc and the ruin of many of its allies.
    2001 9/11
    2008 Subprime crisis
    2020 Xi Plague

    ...can't we get some slack seriously?
    Last edited by Chairman Sheng-Ji Yang; 2020-03-25 at 08:04 PM.
    "Learn to overcome the crass demands of flesh and bone, for they warp the matrix through which we perceive the world. Extend your awareness outwards, beyond the self of body, to embrace the self of group and the self of humanity. The goals of the group and the greater race are transcendent, and to embrace them is to achieve enlightenment."

    ~ Chairman Sheng-Ji Yang on Essays on Mind and Matter

  12. #272
    Quote Originally Posted by Chairman Sheng-Ji Yang View Post
    1914 enough said
    1929 Depression
    1939 enough said
    1948 Cold War begins & PRC established following year
    1958 Great Leap Forward and Berlin Crisis (cementing the Berlin Wall and the Iron Curtain)
    1968 peak Boomer and a grim year for Praag and Czechoslvakia
    1973 1st Oil shock
    1979 2nd Oil shock, islamic revolution in Iran, Soviet invasion of Afghanistan (those guys have not had peace for 40 years now...)
    1989 fall of Berlin Wall
    2001 9/11
    2008 Subprime crisis
    2020 Xi Plague

    ...can't we get some slack seriously?
    You can argue that we at least got 12 years in between this time

  13. #273
    Titan I Push Buttons's Avatar
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    Department of Labor released unemployment stats, new unemployment claims increased from 282,000 the week ending 3/14 to 3,283,000 the week ending 3/21.

  14. #274
    Merely a Setback Adam Jensen's Avatar
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    Quote Originally Posted by Puupi View Post
    I'm fairly sure this will be the worst recession globally at least in the past century.
    Yep.

    A global pandemic shutting down production, while the economy was already slowing down, and during an election year (at least in the US) during a very politically divided time . . . November is going to be interesting.

  15. #275
    Quote Originally Posted by I Push Buttons View Post
    Department of Labor released unemployment stats, new unemployment claims increased from 282,000 the week ending 3/14 to 3,283,000 the week ending 3/21.
    Don't you need unemployed for 4 weeks to apply for unemployment?

  16. #276
    Quote Originally Posted by xenogear3 View Post
    Don't you need unemployed for 4 weeks to apply for unemployment?
    Uh...no. Do need to have been working. That's one criterion. Other criteria may depend upon individual states.

  17. #277
    the coming recession isn't because of corona. it's because we failed to put stricter rules on business loans in 2008, we only did that for the loans that caused a problem that time.

    So right now business have so much debt that even a few days in lost revenues cause massive problems, instead of it merely being a setback you can toughen out. and to make it worse, the debt owners have debt too so they can't temporarily stop collecting.

    - - - Updated - - -

    Quote Originally Posted by Chairman Sheng-Ji Yang View Post
    1914 enough said
    1929 Depression
    1939 enough said
    1948 Cold War begins & PRC established following year
    1958 Great Leap Forward and Berlin Crisis (cementing the Berlin Wall and the Iron Curtain)
    1968 peak Boomer and a grim year for Praag and Czechoslovakia
    1973 1st Oil shock
    1979 2nd Oil shock, islamic revolution in Iran, Soviet invasion of Afghanistan (those guys have not had peace for 40 years now...)
    1989 fall of Berlin Wall, prelude to the collapse of the Soviet Bloc and the ruin of many of its allies.
    2001 9/11
    2008 Subprime crisis
    2020 Xi Plague

    ...can't we get some slack seriously?
    If you have a very similar problem every decade orso, it means you've been getting to much slack, not too little. periodic economic crisises are pretty fundamental result of how our economic system is set up.

    people are encouraged to go into debt. and when shit hits the fan, it's usually solved with quantitative easing, meaning responsible people who saved money are footing the bill, which encourages them to take on debt, which sets up the next cycle.
    Last edited by Hellobolis; 2020-03-27 at 02:20 PM.

  18. #278
    I predict that both Stock market and unemployment rate hit record high at the same time.
    20% unemployment rate, and this year, stock market up 50%.

    Higher unemployment rate promotes more quantitative easing.
    Hire people slows the quantitative easing.
    Don't hire people. Put the money in the stock market instead.
    Last edited by xenogear3; 2020-03-28 at 02:01 PM.

  19. #279
    ^^
    Well safe to say that prediction is wrong, laughably so.

  20. #280
    Quote Originally Posted by xenogear3 View Post
    I predict that both Stock market and unemployment rate hit record high at the same time.
    20% unemployment rate, and this year, stock market up 50%.

    Higher unemployment rate promotes more quantitative easing.
    Hire people slows the quantitative easing.
    Don't hire people. Put the money in the stock market instead.
    I don't think you understand how unemployment, QE or any of this stuff works.

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