What going to be with the economy?

amother

Thu, May 21 2020, 10:03 am

Sounds like a lot of us are eking by with the extra PUA and stimulus... and that’s not nearly enough. what’s going to be when they stop giving that out? My husband has been job hunting all day, but there’s nothing to be found. Yes I know he can maybe find a job in a grocery, but seeing as he was making 150k beforehand, that won’t begin to pay our bills. And I know we’re far from the only ones in this situation. What’s going to be with the world at large?

southernbubby

Thu, May 21 2020, 10:36 am

Not a good outlook but when the virus is less active, the economy will probably come back strong. Part of the problem is the lockdown, part is fear that drives people not to participate in things that are or will be allowed, part of it is that people hoard money under these circumstances rather than spending it. and part is that the unemployed can't engage in the economy so it becomes a vicious circle.

amother

Taupe

Thu, May 21 2020, 10:55 am

interestingly enough the stock market doesn't seem to be do so bad. Construction where I live ( not a hot spot for the virus) is supposedly busier then ever..., supposedly there's more tech jobs at better pay... it's almost like the economy here is shifting to different professions then it used to be at.

iyar

Thu, May 21 2020, 11:05 am

amother [ Taupe ] wrote:

The stock market is artificially propped up by those who benefit most from it. The numbers or values of stocks don’t represent actual value of goods, services, companies; they represent who’s buying and selling and at what price.
This isn’t a good thing. If history is a lesson, the price for this kind of economic manipulation is eventually paid. Those who perform the economic manipulation are not necessarily the ones who end up not being able to pay the bills.

HonesttoGod

Thu, May 21 2020, 11:31 am

It is not doing well.
It will take a while to bounce back that is for sure.
However, many steps were taken as corona was coming around, to avoid as bad a crash as 2008/1920s etc. So money wise, we may bounce back quicker. Then again, unemployment hasn't been this high since the 1920s so that will take a while longer to get back.

amother

Cyan

Thu, May 21 2020, 12:07 pm

HonesttoGod wrote:

A not insignificant percentage of the people who are "unemployed" were furloughed, and will have jobs as the economy reopens.