2 ms·
Even though $10B seems nice, it's a drop in the bucket - any sustained depression at this level will start to have severe consequences far, far beyond the 2008
by jariel 7y ago
Even though $10B seems nice, it's a drop in the bucket - any sustained depression at this level will start to have severe consequences far, far beyond the 2008 recession.
I hate to sound like Trump and make this about the economy, but if this keeps up, we're all in serious trouble - we need to spend.
With all of the 'social isolation' talk, there needs to be a push to 'stay calm carry on' i.e. focus on the 'carry on' parts - we need to do our jobs, we need to finish our work, we need to keep buying stuff (obviously thoughtfully), and we should also be trying to find ways to enjoy ourselves or we're going to go crazy.
I'm really worried about my two locally-owned cafes, I'm literally stepping out now to get 'take out coffee' as I would normally 'sit-in' so as to cause the least disruption to their business. Same with everything else frankly.
1/2 of my 'What I am going to do?' Coronavirus thoughts have revolved around how I can 'keep spending at my regular places' because if we don't do that, it's going to go down like dominos. I know most people probably don't think in those terms, but the moment you become responsible for a P&L, one's worldview shifts!
It's possible that negative economic downturn could inadvertently cause more bad life outcomes than the pandemic itself.
The economy is the circulatory system of our collective wealth (and therefore health), we need to chin up and keep at it.