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by thephyber 2212 days ago
I think people who can work from home and who didn't get laid off are fine and the stonks appeared to mostly recover (which may explain some of the money sloshing around the market).

I think there will be massive economic damage in 6 months that we aren't focusing on right now.
3 comments
tinza123 2212 days ago
I agree. A good portion of the 40m job loss are not gonna be fully recovered even if the situation improved a little, not to mention it is getting worse by the day.
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thephyber 2212 days ago
I actually suspect part of the widespread looting is because people who used to have low paying hourly wages before COVID lockdown feel this dread and desperation as this economic depression unfolds.
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refurb 2212 days ago
Yup, must be that. Couldn't be people just wanting to steal.
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PhantomGremlin 2212 days ago
widespread looting ... dread and desperation

Yeah, that's the ticket.

It was "dread and desperation" that caused people to loot the Louis Vuitton store in downtown Portland.

https://www.reddit.com/r/Portland/comments/gt9lby/pioneer_pl...

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brutus1213 2212 days ago
Is anyone (except govt employees and people making PPE/in healthcare) really fine? The economy is so intricately connected, I feel that everyone will eventually pay the price. The large-corp tech sector has been fine so far but I am not sure how comfortable I am taking on a large mortgage. Atlanta is cheap .. a bay area techie could probably buy a place in cash.
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throwaway0a5e 2212 days ago
Lots of money has to slosh around as we dig out way out of this hole so wall street banks aren't cutting staff anytime soon.
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asjw 2212 days ago
That's my understanding as well.

My wife started a co-working space January this year, it was her office and the co-working bit was to save on the rent with a prediction of some profit in a year or two.

Then covid happened, so we gave our notice to the landlord and are looking for a bigger house, with a spare room she can use as an home-office

We're saving money from the office rent and investing them in a less potentially profitable solution, but safer, at least for the moment.

Apparently this is a thing not just here, but it's global.

I think that's gonna keep the market alive for the next few months, I really can't say what could happen after that.

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