So after one of the most drastic blows to the American stock market I've ever seen things seem to be increasing at a more normal rate (thanks to some Fed intervention). But will it be enough? Will this bump be enough to carry them through a period where people are mostly on lockdown? Is this just a bull trap before the market falls off a cliff? Or will this be enough to inflate the bubble and kick this can down the road for a few more years?
Are Americans on the cusp of another Great Depression? -
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BUY A SHIRT (~95% towards goal)
Great Depression 2.
We're overdue.
Truth be told I figured it was going to be the pension bubble for the last straw.
Thanks Corona-chan.
We're overdue.
Truth be told I figured it was going to be the pension bubble for the last straw.
Thanks Corona-chan.
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This virus has a lot of people insecure and scared for the future, not knowing what to do or who to trust for advice. Luckily, you submitted your inquiry to the right place. Thank god for our resident expert economists and epidemiologists at The Kiwi Forums. 
You say that, but I've found a lot more sober analysis here than a lot more mainstream sources.This virus has a lot of people insecure and scared for the future, not knowing what to do or who to trust for advice. Luckily, you submitted your inquiry to the right place. Thank god for our resident expert economists and epidemiologists at The Kiwi Forums.
I think we might be headed towards another economic slump at least, as the quarantines slug the economy right across the jaw. Maybe it will accelerate all the closing of brick and mortar stores as more people order online while they can't get out.
Every job automated and universal basic income here we come!
A great depression? No. The reason why we had the first was FDR continuously making things worse.
Governments will just pretend that Winnie the Flu is gone and start sending people back to work once fiscal and monetary stimulus is no longer enough to keep the economy afloat through all of the quarantines and work closures. World leaders are not willing to risk popping the global debt bubble and initiating financial Armageddon by trying to "flatten the curve" for 18 months, even if it would mean fewer Covid deaths.
I'm going other.
Were in for a sharp depression but I suspect it will only last a couple or three years. If the boomers all die it will help cut out some dead wood and clear some distressed/grossly over valued assets out of the system. For example. housing is probably going to crash hard, but demand is going to be high because there's going to be a lot of older millennials/late gen X people with dead parents money who can afford a house for the first time. The increased demand should stabilize the market. and I think a lot of manufacturing is going to come back to the US/europe. The other shoe is about to drop on Kung-flu, which is that our supply lines are fucked on basically everything. Globalism/the Just in Time model is over because it is about to cause an intolerable shock to the global supply chain.
Were in for a sharp depression but I suspect it will only last a couple or three years. If the boomers all die it will help cut out some dead wood and clear some distressed/grossly over valued assets out of the system. For example. housing is probably going to crash hard, but demand is going to be high because there's going to be a lot of older millennials/late gen X people with dead parents money who can afford a house for the first time. The increased demand should stabilize the market. and I think a lot of manufacturing is going to come back to the US/europe. The other shoe is about to drop on Kung-flu, which is that our supply lines are fucked on basically everything. Globalism/the Just in Time model is over because it is about to cause an intolerable shock to the global supply chain.
This is bad. Seriously. Economic depression. Whatever you think is bad. It's worse. But take heed. We will endure.
Anyone ever seen the anime Speed Grapher?
It ends with a second Great Depression.
It ends with a second Great Depression.
God only knows what the economy will do in the coming months, the best we can do is speculate. I found some pertinent reading published by the Fed, analyzing the impact of the 1919 Spanish Flu outbreak and its economic effects. I recommend reading this if you're into economics or history, it's pretty interesting!
The Great Depression was only 'great' here. Everywhere else recovered before the USA because they weren't rețarded.
Yes, the effects were short term. Doomers are calling it a second great depression, but the cause is not economic, but an outside one. It will probably be rougher than the Spanish Flu outbreak, but only because we are more focused on services these days.
I don't think it'll be that bad, maybe two quarters of economic downturn. Basically a recession. We've been due a recession for a while now, anyways.
People who live paycheck to paycheck are going to be the most affected, but they're exceptional for living their lives that way. Maybe this will teach them to budget.
People who live paycheck to paycheck are going to be the most affected, but they're exceptional for living their lives that way. Maybe this will teach them to budget.
I think this is going to be anouther 2008 crisis, but actually looking at historical trends, for as long as Ive been alive (I was born in 90 so half of this shit I was too young to know about and the other half Im too stupid to understand so Im kind of just shitposting) it seems like America has had some major 'recession' every decade or so. There was one in the late 80s, early 90s, I think there was one near the end of the 90s, you had 08, and now this.
Also people had been saying, like usual, "We're overdue' since around 2 years ago and also because Orange Man™, which I didnt get or believe in but here we are.
Also people had been saying, like usual, "We're overdue' since around 2 years ago and also because Orange Man™, which I didnt get or believe in but here we are.
I agree to a point. It’ll be some tougher times ahead, especially for people with less savings and income.
As for them being dumb with money, that’s true, but their kids don’t really have a choice. You can say it’s irresponsible to have kids when in that position, but the kids are still there through no fault of their own. A ten year old can’t support themselves, they’re stuck relying on the parents.
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Ah, the economy finally matching my mood.
Greatly depressed.
Greatly depressed.
Most of them are likely in a manner similar to my job, where they are on the books, but just given 0 hours. I'm going to be 'losing' my job soon, and can file for unemployment, but they already told us we will be called back once the pandemic is over.
As amused as I would be to see my fellow sissy millennials go from first world comfort to dust bowl travelling or hooverville tier poverty, the scenario seems unlikely.
No, what'll likely happen is even if COVID isn't completely in the clear, businesses will reopen in 2-3 months and most people will be fine. Corona will be a known quantity in this scenario and positive tested people will be quarantined. Provided they aren't already unhealthy they'll recover and go back to work after getting the all clear from a medical professional. We're already working on different methods of band-aiding this thing and summer heat helps to kill off SARS and influenza, of which Corona is a relative.
No, what'll likely happen is even if COVID isn't completely in the clear, businesses will reopen in 2-3 months and most people will be fine. Corona will be a known quantity in this scenario and positive tested people will be quarantined. Provided they aren't already unhealthy they'll recover and go back to work after getting the all clear from a medical professional. We're already working on different methods of band-aiding this thing and summer heat helps to kill off SARS and influenza, of which Corona is a relative.
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