Quote:
Originally Posted by crystalworks
Oh, I agree. Fauci is not an economist. And I made the case for tangential deaths a page or two ago. So I'm with you there. The health experts AND economic experts should talk in the press conferences. Trump isn't an expert on either subject.
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Reputable economists are saying the economy will survive. The caveat is if the virus cannot be reduced to a manageable level. The majority think that even if we are quickly successful in doing so it will be years before economy gets back to the point it was. If we have a second spike due to poor opening plans or too many individuals decide the guidelines don't apply to them it could then be catastrophic but not to the point that recovery is not possible.
If one is not part of the solution they are part of the problem and they are contributing to greatly increasing the risk the financial impact to each of us and the country. If we screw up the opening of the economy we will be back to closing up America and sheltered in place. If some of anecdotal opinions here represent a significant representation of the country, start preparing your chapter 13 paperwork.
Public corporations and large companies are well into plans to eliminate jobs or replace them with automation. Their goal will be to do whatever possible not to invest in larger facilities to comply with even short term guidelines. Part of the longterm planning will be an assumption that some, especially social distancing will stay in place which further justifies investments in automation even in these troubled times. They have to focus on reducing the cost of material, labor and burden. They are preparing a near and longterm list of people and jobs to be eliminated. In many cases their bottom line is already in the crapper for this year. interest rates are as low as they every will be. So there will be great urgency to adjust as quickly as possible. Following the lowest labor rate on the planet will be even more important.They have to get back to prior shareholder value and find ways to increase it. Senior management jobs, bonuses and perks depend on getting it done very quickly.
Small businesses, far less financially stable, will also be eliminating jobs because their customer base will be smaller and/or they won't have the space to serve them. The horse is already out of the barn and if we do not contribute to the guidelines many of us that won't have a horse or barn.
The public is the biggest contributor to the successful opening of the economy. Do your part!