Economic Impact of COVID19
- Thread starter HawkGold
- Start date
Dadman
Well-Known Member
Working from home, company is limiting travel (so much for my typical weekly mileage reimbursement-losing $200 a week there, but guess my POS vehicle will last longer), but this directly impacts my billable time as well, based on past activity, I will probably lose a few hundred a week in revenue earnings. Indirect effect, I am going to see a cut in pay over the short term. But, still working, and grateful for that. If it gets bad, I can always hide out in my cave...........
Well one of the first things mentioned in the article you posted was that S Korea used a lot of testing and then isolation of infected people. Well there you go because that is not the case with the US where there is very little testing. We dont even test hardly to see who has a fever. We are closing things down because we do not test therefore we do not know who to isolate. It is that simple.
I see TK likes this post.
Spider, I think if you and others do not want to see lots of stuff in the US come to quarantine and being cancelled then you should write and call your US govt leaders in the Exec and Congressional areas and tell them to get tests like the WHO test.
I read today that this is what Britain was going to do, a 'herd mentalilty' where you test and keep testing but let those not showing symptoms to their every day lives, while trying to isolate those at risk and those maybe some that have bad symptoms. This action does tend toward burning out the problem is a shorter time.
The study I read that changed their minds was from Imperial College and one of the most famous, best epidemiologists, Neil Ferguson. These studies projected doing nothing would lead to about 500,000 British deaths and even a tenth of that would be terrible. And 2 million US deaths. I can see why leaders are wanting to take action.
New headlines today are below from Yahoo. This could be bad and lets hope everyone bands together to pay more taxes to see every one through this.
The New York Times
U.S. Virus Plan Anticipates 18-Month Pandemic and Widespread Shortages
Peter Baker and Eileen Sullivan
The New York TimesMarch 18, 2020, 2:11 PM CDT
ssckelley
Well-Known Member
Both my wife and my youngest daughter work in schools and while they are considering paying them for the rest of the school year it's going to be very tough for either of them to find summer work.
My oldest daughter works in a salon and has had her hours cut. I imagine she will make out ok since people will eventually need a hair cut. But I worry about her working directly with the public like that.
My oldest daughter works in a salon and has had her hours cut. I imagine she will make out ok since people will eventually need a hair cut. But I worry about her working directly with the public like that.
Ree4
Well-Known Member
Yep, need to use 1 day PTO per week to get paid in full
Ree4
Well-Known Member
Yeah they will be emailing stuff out soon
Ree4
Well-Known Member
They will try but not everyone has internet access let alone computers (chromebooks that they can borrow might work). They are also working on getting meals to underprivileged kids as well
okeefe4prez
Well-Known Member
Since I can't gamble on the NCAA tournament pool, I will take the under on the numbers you cited above.
In terms of paying more taxes, funny thing about that is if you choke off virtually all economic activity other than stockpiling toilet paper and canned goods, you don't have anything left to tax. If we carry on in quarantine mode for 18 months, GDP will be less than the government currently spends at all levels across the US.
If you have anyone who can run your errands for you, you should really go that route. Anyone who takes quarantine 100% serious is safe. One trip to the store could be the difference.
HaydenHawk56
Well-Known Member
I agree (with listening to Micheal Moore Podcast) the biggest problem (and what a situation like this shows) is we have not really been equipped for backup plans in cases of emergency like this. Hopefully we can learn from it when it is all said and done. I sure hope financial assistance can come soon for all Americans who need it.
Working in the education business here. So, for sure, very interesting times.
https://podcasts.apple.com/us/podca...rst-million-dead/id1490354763?i=1000468753411
Working in the education business here. So, for sure, very interesting times.
https://podcasts.apple.com/us/podca...rst-million-dead/id1490354763?i=1000468753411
I read a summary of that report and it makes sense. One thing it doesn't discuss is how many deaths will result from the fallout of the economy. Is someone going to kill my family to loot my house? Another thing it didn't say from what I saw was why will that many more people die if the high risk still isolate themselves. If it's because they dont think the 15% of high risk people will take it serious enough to matter, then you have to ask the question of why anyone thinks 100% of the population will take it seriously.
If this goes 18 months, then life as we know it will be over. The unemployment rate will be 50%. There will be no businesses to hire anyone. How are grocery stores going to be stocked and open for business in 18 months? People did the math on how many more people they think will die doing nothing. When is the math going to come out on how many will die by an 18 month quarantine? I'm sorry to Huck or whoever gets offended, but I dont know any elderly people who would rather risk their family's safety and livelihood over risking their own health/life. And anyone who doesn't want to risk it can just self quarantine.
There isn't enough financial assistance available to help everyone. I don't see a way any small business survives. If we quarantine for more than a couple months, I bet 75% of small businesses never open their doors again.
HaydenHawk56
Well-Known Member
Of course they can bail out those banks though.
I agree, this is going to be very devastating to small businesses.Well I hope the numbers are a lot less and since now the US and Britain are shuttering people and cancelling activities there is the very good chance the hospitals and medical care resources will not be overrun.
As far as taxes go you can tax people later to pay for economic and monetary assistance now. You do remember we can print more money but that will push up inflation a bit. US Govt borrows or prints more money, gives it out to stimulate the economy, then later raise more taxes if you want to pay back for the economic stimulus.
Of course our country seems to love to add to our debt.
Notice how I am being very careful not to be political and just saying things in general like ' wow we like to run up national debt'.
Yes it will be tough for them and many others. The industries in the basic needs areas will need to continue, food, clothing, shelter, water, medical, pharmacies, etc.
We all have to really hope a 2nd or 3rd wave of a mutated, more virulent strain comes around.
HuckFinn
Well-Known Member
Probably good advice. Also, Consumer Reports, which has been my bible for many years, has a comprehensive report, data based, no bias, on what to do about various aspects of the virus outbreak. It is long and complex, but is divided logically into areas so you can focus your questions. They will never, I mean never, publish unfounded information. Will be my go to information source from now on, although I will continue to follow breaking news.
tksirius
HN's Love Doctor
Consumer Reports? No, Consumer Deceit
https://www.porkbusiness.com/article/consumer-reports-no-consumer-deceit
AIRHAWK
Well-Known Member
The day I listen to Michael Moore for medical or economic advise is the day I suck on a 12 gauge
