How do we get out of this mess??Consumer confidence after the lock down?

[jim barclay]

I was just wondering what happens to our consumer-driven economy after the lockdown? restaurants and bars? how long before people go back? travel? sports? retail? luxury goods? the list goes on..not to mention to impact to local and state budgets with no income...how many small businesses can survive a lockdown past May? I feel like we are underestimating the impact, I have to think severe depression on the horizon.

Does everyone think most consumers will start acting normal anytime soon?

 

[Jaskalas]

Does everyone think most consumers will start acting normal anytime soon?

For optional activities... going out into public, traveling - no. I don't think those will recover for years. This virus will have to no longer be a threat. However long that takes.

 

[jim barclay]

It seems like a real death spiral to me..people don't spend money, business fail, a business that relies on those businesses suffer, layoffs and they fail..terrible situation.

 

[senseamp]

If we "reopen" in next month before we can test enough and get numbers low enough to contact trace most cases, it just means that the curve has been bent down enough that you will get an ICU bed and ventilator if you are sick enough to need one. Your chances of survival if on ventilator are still a coin-toss. So I would act accordingly.

 

[soundforbjt]

It's called a Depression and it looks like we may just have the second one this time.

 

[hal2kilo]

We literally need an army of people involved in contact tracing. This article explains why.

'We need an army': Hiring of coronavirus trackers seen as key to curbing disease spread

“We need an army of 300,000 people” to find the contacts of people infected with the #coronavirus, said former CDC director Tom Frieden.

www.statnews.com

Combined with more widespread testing, contact tracing is seen as an essential part of the strategy for keeping the coronavirus in check after the first wave recedes and the economy reopens. But the work is highly labor-intensive, and public health departments across the U.S. have been woefully underfunded for years.


“This is going to test the capacity of the existing public health system,” said Marcus Plescia, chief medical officer of the Association of State and Territorial Health Officials. “I don’t know if we have enough staff in public health departments to do that.”

 

[Homerboy]

Wisconsin just closed the doors for another month. May 26th. Crazy times.

 

[dainthomas]

Our whole system has been exposed as an elaborate facade. A house of cards balanced on a single card (consumer spending). Once that's pulled out everything goes to complete shit. I don't know if the Fed will even be able to crank out cash fast enough to stop the collapse.

 

[Jhhnn]

We literally need an army of people involved in contact tracing. This article explains why.

'We need an army': Hiring of coronavirus trackers seen as key to curbing disease spread

“We need an army of 300,000 people” to find the contacts of people infected with the #coronavirus, said former CDC director Tom Frieden.

www.statnews.com

Combined with more widespread testing, contact tracing is seen as an essential part of the strategy for keeping the coronavirus in check after the first wave recedes and the economy reopens. But the work is highly labor-intensive, and public health departments across the U.S. have been woefully underfunded for years.


“This is going to test the capacity of the existing public health system,” said Marcus Plescia, chief medical officer of the Association of State and Territorial Health Officials. “I don’t know if we have enough staff in public health departments to do that.”

Don't need no stinking public health in Libertopia. Smaller Government! Lower taxes! Privatize everything! Let the Job Creators provide!

 

[JEDIYoda]

Nostradamus predicted the end times...
Reminds me of something my drill Sargent told us.....
It you see a mushroom cloud on the horizon....
Bend over and kiss your ass goodbye!!

 

[Thump553]

It's going to be a new world literally-unlike the Great Depression where the problem was rebuilding what had collapsed. I think our commerce is going to greatly change, with much less emphasis on producing on the other side of the globe. Some people will do real good-those that can identify the new trends and go into those lines of business early on. Some businesses-concerts, professional sports, etc. are going to be greatly diminished for the foreseeable future.

Personally I was already on retirement, was working a gig job (more than full time as it went). I don't know when or if I will ever go back, but then again I was raised the son of Depression kids and as a New Englander so cutting expenses to the bare bone is second nature.

 

[Printed Circuit Bro]

I can't wait to get back out and back to my normal life. All work and no play makes PCBro an ornery boy. I won't have any problem going back to my normal points of entertainment and dumping cash back into those companies. I'm practically clawing at the front door on Friday and Saturday nights.

 

[Ken g6]

It's called a Depression and it looks like we may just have the second one this time.

There have been more depressions than the Great Depression.

Economic depression - Wikipedia

en.wikipedia.org

 

[Jhhnn]

I can't wait to get back out and back to my normal life. All work and no play makes PCBro an ornery boy. I won't have any problem going back to my normal points of entertainment and dumping cash back into those companies. I'm practically clawing at the front door on Friday and Saturday nights.

Lackanooky is a terrible affliction...

 

[Mai72]

I live at the shore in NJ. People here are concerned with the summer.

Lets take Memorial Day Weekend. Last year, we had tens of thousands of people who visited. Mostly highschool/college kids. The bars, beaches, boardwalk and restaurants were packed. I just don't see that happening this year. It's going to be a HUGE revenue loss for many people. Small local businesses are going to take the brunt.

 

[JSt0rm]

i dont think its going to get to depression levels. We have a lot more financial tools available now then we did in 1929.

 

[fskimospy]

Our whole system has been exposed as an elaborate facade. A house of cards balanced on a single card (consumer spending). Once that's pulled out everything goes to complete shit. I don't know if the Fed will even be able to crank out cash fast enough to stop the collapse.

I’ve never understood this critique, if an economy isn’t based on people buying things they want, what would it be based on?

 

[JSt0rm]

I’ve never understood this critique, if an economy isn’t based on people buying things they want, what would it be based on?

we could transition to basic income based on how many pictures you paint.

 

[fskimospy]

we could transition to basic income based on how many pictures you paint.

Presumably people would use that basic income to buy... the things they want.

 

[JSt0rm]

Presumably people would use that basic income to buy... the things they want.

Yup. IF they start giving every person 2k per month and then those on unemployment are getting $600 plus the state amount ($450 in cali) per week thats $6000 per month. Most people will be in love with the new future.

 

[dainthomas]

I’ve never understood this critique, if an economy isn’t based on people buying things they want, what would it be based on?

It used to based on growing things. Then building things. Now it's based on people buying things built somewhere else.When farms are owned and run by corporations and manufacturing is gone and people stop buying random shit they don't absolutely need then everything goes to crap. The only section of retail that isn't in a complete tailspin is grocery stores.

 

[JSt0rm]

It used to based on growing things. Then building things. Now it's based on people buying things built somewhere else.When farms are owned and run by corporations and manufacturing is gone and people stop buying random shit they don't absolutely need then everything goes to crap. The only section of retail that isn't in a complete tailspin is grocery stores.

tv sales are up. That means content consumption is up. That means more work for me. That means I buy dumb shit.

 

[woolfe9998]

It used to based on growing things. Then building things. Now it's based on people buying things built somewhere else.When farms are owned and run by corporations and manufacturing is gone and people stop buying random shit they don't absolutely need then everything goes to crap. The only section of retail that isn't in a complete tailspin is grocery stores.

And online sales. Amazon is doing very well right now. Its stock is at an all time high.

 

[Moonbeam]

I’ve never understood this critique, if an economy isn’t based on people buying things they want, what would it be based on?

Real human happiness? I mean, really, the economy is based not on what happy people need, but what they can buy to escape their lives of futility.

A man came upon an injured fox in the swamp that was covered with blood sucking flies. Thinking to help it he decided to shoo them off. The fox pleaded with the man not to disturb the situation because, as the fox said, the ones covering me are full of blood and if you shoo them off hungry ones will take their place. A story

We can't alter the system, now can we? The one percent have glued themselves to the fox, no? They wouldn't like to change the system having prime real estate for their next meal.

 

[BoomerD]

I'm TRYING to do my part...I'm looking seriously at buying a new pickup...but the fckng shutdown has me blocked...by the time it's over...I might have decided to just keep my 2018 another couple of years.