Painful and scary to read the message posts early in this thread in July until the schools re-open. It does help to identify the Covididiots. Very easy to see why many countries are currently getting slapped around in a 2nd wave and now putting all their hopes on a vaccine. The problem...most people that don't believe in face masks...they're also reluctant to take a vaccine even if its free. Only peer pressure or deaths of loved ones / friends or some big brother work place requires employees to be vaccinated like a typical job that requires new employees to have a medical physical exam. Yeah, many jobs still do the latter...requires new employees to have a medical physical exam. Just imagine the new world...show your Covid-19 vaccination card before boarding an airplane, blind dates will ask to see your vaccination card, immigration will ask to see your vaccination card, new employers will ask to see your vaccination card... Don't laugh...its already started. wrbtrader
It's actually about evenly split, small businesses account for just about half of economic output and jobs in the U.S. This is a very different economic stress than what we've seen in the past in that certain segments are being utter decimated, small business or large, while others are entirely unaffected. Folks I know in the travel and restaurant space are getting killed, I feel horrible for them and frankly don't know how many of them have managed to hang on as long as they have. On the other hand, my company in the energy space is entirely unaffected, as are other CEOs in the IT, B2B, and professional service space. In fact many of us are having our best years ever even if we're not connected to any COVID related economic activity at all. I am very surprised there hasn't been a flow-down impact on the rest of us from them from a loss of confidence at least. I've been expecting it since March but just haven't seen it yet. The only thing I can come up with is that the sectors impacted are predominantly staffed by those on the lowest rung of the socioeconomic ladder and the they're so isolated from the rest of us that their plight doesn't register in the confidence of the rest of the country. It does seem like it's only a matter of time before it just has to have an impact. I'm hoping that we get something like a post-war bump from everyone wanting to eat out and travel as much as possible once a vaccine is distributed and that those businesses can hang on long enough to see that bounce.
Government stimulus. They have poured so much money in its masked a lot of problems. Question is can the economy fake it until it makes it? I believe it can and you won’t see fallout beyond your favorite restaurant location will change owners.
That stimulus package is greatly needed by many to get by along with vaccination so that many can fake it until they (the economy) are able to make it as @newwurldmn stated. wrbtrader
I'm hoping as well. I would have thought that we would have seen impacts though between when the last stimulus ran out and now, I'm pretty surprised we're not seeing much there yet.
Band Aid stops the bleeding until you take it off to see if the bleeding really stopped... The effects of Covid on the economy could start impacting the economy right about the time when the vaccine will be more readily available and that will then provide another boost....
I'll date myself but its kind of like playing frogger and hoping that next log will appear to hop onto before the one you're on sinks!