You are viewing a single comment's thread.

view the rest of the comments →

1
52

[–] agitatedwhiteguy [S] 1 point 52 points (+53|-1) ago  (edited ago)

I have a foreboding suspicion this is just the beginning.

As Saxo Bank's Christopher Dembik also warns, keep in mind that an undefined number of claims went unreported as states’ unemployment insurance program offices were overwhelmed by the massive number of applications both by phone and online. Some states even informed that their phone lines was saturated and their website crashed due to high demand. It means that next week’s data might be very ugly as well, or even worse.

[–] [deleted] 0 points 37 points (+37|-0) ago 

[Deleted]

2
34

[–] fluxzup 2 points 34 points (+36|-2) ago 

Most of us just want this all to burn to ash and start over. You can't fix what we've become, and this Country is no longer unified for any single issue or even definable ideology. America has been fractured beyond repair.

0
3

[–] agitatedwhiteguy [S] 0 points 3 points (+3|-0) ago 

Both seem to have similar outcomes, no?

0
2

[–] Goys-R-Yus 0 points 2 points (+2|-0) ago 

At this point, what are the realistic recovery outcomes, anyway?

0
1

[–] HistoryRhymes 0 points 1 point (+1|-0) ago 

Opening of the floodgates. Decisions have consequences.

0
14

[–] Glory_Beckons 0 points 14 points (+14|-0) ago  (edited ago)

It is just the beginning.

This Covid thing will blow over soon. Half the people who bought into the fear mongering will feel really stupid. The other half is too stupid to feel stupid. But the consequences of the collective knee-jerk overreaction will continue escalating, like a domino chain reaction gone out of control.

You cannot replace 1+ months of 90% of the entire planet throwing up its arms and shutting themselves away, crippling productivity. You can never gain what is lost by doing that back. It's just gone. And the void it leaves behind starts a cascade of failures that cannot be stopped.

The number pushing that banks and governments will attempt to do to compensate will accomplish nothing, because that's all it is: pushing numbers around. Fiddling with numbers in a spreadsheet cannot change the reality of the situation. You can glaze over it, make it look better, on paper. But underneath that, the reality remains unchanged:

We have lost all of the value that should have been created, and at the same time severely crippled future production by throwing previously well-organized workers and businesses into crisis and disarray.

And the people responsible will probably never be held to account, because most people just can't seem to connect the dots.

0
8

[–] hatrickpatrick 0 points 8 points (+8|-0) ago 

None of this would matter if we weren't using the idiotic, nonsensical money creation via interest bearing loans from banks model. There would be no need for incessant growth if there wasn't always more debt owed than there is money in existence. If that system collapses during the Coronacrisis, then all of the problems you've cited stop being problems. Production resumes when the crisis ends and everything carries on without any problems.

0
3

[–] Goys-R-Yus 0 points 3 points (+3|-0) ago 

Just wait for the 6-month "corrected" numbers. Or even better, the final 18-month "corrected" numbers.. since that's how Government hides data past the point of anyone caring about it anymore. It's all so tiresome.

0
3

[–] DEA-AgentTally 0 points 3 points (+3|-0) ago 

It's curious to note that a few State's are so technologically inept they have to estimate numbers. In 2020. Fascinating.