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So much of this depends on how the administration handles this. I don't have great confidence based on how they've handled things so far.
by shostack 7y ago
So much of this depends on how the administration handles this. I don't have great confidence based on how they've handled things so far.
- redisman 7y agoProbably most small(and medium, and big) businesses can hold on for a month or two at this rate but failure rate is going to approach 100% as time goes on.
- doh 7y agoVery true. I spoke to a few economists and they believe there are going to be two or three waves of CARE ACT-like packages. It's easy to criticize the government without having to bear the responsibility but I wish they did this much earlier, with more force to bring confidence to the people rather than markets. I spoke with a branch manager at a bank day before they announced the extended timeline for shut down up until end of April. She was cheerful because she believed that this will be over in two weeks. I tried to gently tell her that I believe we are looking at months (two at minimum), not weeks of lockdown and even that might be very optimistic. She didn't take it well. People are confused and scared. I do wish the govs (local and federal) would be the leaders everyone needs them to be, but unfortunately, that's not yet happening (there are some exceptions, but very few unfortunately).