Coronavirus (COVID-19 Outbreak) (60 Viewers)

Red

-------
Moderator
Nov 26, 2006
46,955
  • Red

    Red

Aberdeen have been told their insurance to protect against a loss of earnings due to a pandemic will cease at the end of April.
The Pittodrie club has a business interruption policy but say the wording in relation to the coronavirus outbreak is to be removed upon renewal.


https://www.bbc.co.uk/sport/football/52048960

Wonder how many other businesses are getting fucked over like this.
 
Apr 25, 2013
4,911
Initial jobless claim numbers that just came out are insane. 3.3 million jobless claims vs. the expected 1.7 million increase.

https://www.zerohedge.com/personal-...on-americans-just-filed-unemployment-benefits

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From wiki:

"Zero Hedge or ZeroHedgehttps://en.m.wikipedia.org/wiki/Zero_Hedge#cite_note-5 has been described as a libertarian or far-right financial blog"

"what CNN Business called an anti-establishment and conspiratorial worldview, and which has been associated with alt-right views,[6][13] and a pro-Russian bias"

"Zero Hedge's non-financial commentary has led to a number of § Site bans by various global social media platforms, some of which have been overturned (e.g. 2019 Facebook ban),[17]while others remain (e.g. 2020 Twitter ban)"

"Zero Hedge in-house content is posted under the pseudonym "Tyler Durden"" lol
 
OP
OP
Bjerknes
Mar 16, 2004
101,429
20-30% unemployment rate if this goes on is not far fetched.
The longer the shutdown lasts, the more and more businesses will drop out of the market, both small and medium. Once the credit lines dry up it'll be extremely difficult to restart business once this is over with. Perhaps we can have a month or so being shutdown, but even that is a long time. In a perfect world, we could just test everyone and know who had it, has it, or doesn't have it, and base re-opening decisions on that data.

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From wiki:

"Zero Hedge or ZeroHedgehttps://en.m.wikipedia.org/wiki/Zero_Hedge#cite_note-5 has been described as a libertarian or far-right financial blog"

"what CNN Business called an anti-establishment and conspiratorial worldview, and which has been associated with alt-right views,[6][13] and a pro-Russian bias"

"Zero Hedge's non-financial commentary has led to a number of § Site bans by various global social media platforms, some of which have been overturned (e.g. 2019 Facebook ban),[17]while others remain (e.g. 2020 Twitter ban)"

"Zero Hedge in-house content is posted under the pseudonym "Tyler Durden"" lol
A lot of what they have is similar to editorial pieces in the New York Times, Washington Post, et cetera. When they cite data, they link to the source, so it's there. The jobless claim data isn't made up by Tyler Durden.
 

Dostoevsky

Tzu
Administrator
May 27, 2007
81,681
The longer the shutdown lasts, the more and more businesses will drop out of the market, both small and medium. Once the credit lines dry up it'll be extremely difficult to restart business once this is over with. Perhaps we can have a month or so being shutdown, but even that is a long time. In a perfect world, we could just test everyone and know who had it, has it, or doesn't have it, and base re-opening decisions on that data.
Many huge businesses will also go bust surely. No two ways about it. And imo there's no way a shutdown to last less than a month. Many countries will only have it worse and worse (by far). It's only Italy that probably reached the peak but it will take at least 2 more months for them to clean up the mess left behind. Same probably goes for Spain. But we're yet to see the real mess in Germany, France, UK and the US (along with smaller countries too). That alone is way too huge on a global scale. It's gonna get really insane.
 

Dru

★ ★ ★
Aug 8, 2006
61,410
  • Dru

    Dru

20-30% unemployment rate if this goes on is not far fetched.
If we were to remove context and scale from the equation then we could take Spain in 2012 as an example where the unemployment rate was nearly 40%.

Of course, Italy, Greece also could serve as examples. But then again that's why context, scale, economic relevance, GDP all matter when determining where things are headed and the domino effect
 
OP
OP
Bjerknes
Mar 16, 2004
101,429
I'm beginning to think there should be a progressive return to work but a careful one. Not all the staff and it should alternate. Taking the utmost precautions by having hand sanitizer everywhere, alcohol to disinfect and social distancing. Only those that test negative

The problem is we can't afford staying in this situation. The economy will collapse and everyone will suffer. I know Trump can be ridiculous, but still. The world is fucked at the moment

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It's also important to save lives. i don't even know anymore what could be done. This is fucked
That's not a bad concept, as long as each business can operate under the social distancing guidelines. I'm trying to think for something like a restaurant -- you could space tables in a certain way, be almost obsessive with respect to wiping things down, and have everyone who enters the establishment take a temperature. Sounds possible, but also costly. Office spaces with cubicles would be easier to manage provided everything is wiped down and nobody has symptoms. If everyone could be issued a mask it would be easier as well, shame there isn't an unlimited supply.

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We already know that China literally owns majority of the world. What I'd like to know is how much of each country they hold controlling interest in. Is there a resource that documents that?
Good question, I have never seen actual data on what exactly they own in terms of bonds from around the world. Here is an article I found about it.

https://hbr.org/2020/02/how-much-money-does-the-world-owe-china
 

Ronn

#TeamPestoFlies
May 3, 2012
11,752
  • Ronn

    Ronn

That part is bullshit of course.

But there is something not that dumb in Trump saying he can't understand why you'd shut down the economy over this. At the end of the day the vast majority of people dying are over 80. Now I'm not saying they deserve to die or that we shouldn't care about them as a society. But if you shut down the economy, you also shut down the lives of younger people. What about the 34 year old who started his own restaurant last year? Or the 24 year old lawyer trying to get his first cases? These are careers we might be ending.

And then there's the question if, maybe, we should go for herd immunity.

I don't know. It's the first time I've ever heard Trump say things I might agree with.

Only because he always says those things though.
It’s not only Trump saying this. NY governor Cuomo said the same thing. Trump did 2 things that others didn’t and that is 1- politicize this, and claim his opponents want the economy shut, and 2- provided a deadline as if you can make things go away by flipping a switch. Expecting Christians to gather in churches on Easter Sunday without aggravating the situation is just retarded.
 

Oggy

and the Cockroaches
Dec 27, 2005
6,921
  • Oggy

    Oggy

News alert!

I just found that one colleague who works in our production line is the neighbor of the lady that died from COVID-19 two days ago. He knows her, but apparently he didn't have any contact with her.
 

Ronn

#TeamPestoFlies
May 3, 2012
11,752
  • Ronn

    Ronn

Oh please, dude. It’s Trump-level stupidity and nonsense to suggest the media actually wants America to remain shut down and the economy to of down the shitter just to stop Trump getting re-elected. It was a full retard claim, but Trump makes those multiple times a day so not really surprising.
People are so used to this that even a lie as stupid as this is seen as normal. There’s nothing normal about it though.
 

Dostoevsky

Tzu
Administrator
May 27, 2007
81,681
If we were to remove context and scale from the equation then we could take Spain in 2012 as an example where the unemployment rate was nearly 40%.

Of course, Italy, Greece also could serve as examples. But then again that's why context, scale, economic relevance, GDP all matter when determining where things are headed and the domino effect
Da, we, consequences of the global economy are much higher if the US gets 30% unemployment rate rather than all those combined.
 
Jan 17, 2011
15,230
That part is bullshit of course.

But there is something not that dumb in Trump saying he can't understand why you'd shut down the economy over this. At the end of the day the vast majority of people dying are over 80. Now I'm not saying they deserve to die or that we shouldn't care about them as a society. But if you shut down the economy, you also shut down the lives of younger people. What about the 34 year old who started his own restaurant last year? Or the 24 year old lawyer trying to get his first cases? These are careers we might be ending.

And then there's the question if, maybe, we should go for herd immunity.

I don't know. It's the first time I've ever heard Trump say things I might agree with.

Only because he always says those things though.
You as a lawyer should know that the right to live is more important than any economic right.
 

Quetzalcoatl

It ain't hard to tell
Aug 22, 2007
58,244
Many huge businesses will also go bust surely. No two ways about it. And imo there's no way a shutdown to last less than a month. Many countries will only have it worse and worse (by far). It's only Italy that probably reached the peak but it will take at least 2 more months for them to clean up the mess left behind. Same probably goes for Spain. But we're yet to see the real mess in Germany, France, UK and the US (along with smaller countries too). That alone is way too huge on a global scale. It's gonna get really insane.
Germany's curve looks to be flattening, but a few more days will give a better picture - https://www.worldometers.info/coronavirus/country/germany/
 
Jan 17, 2011
15,230
They are very much dependent though
I don't disagree.

I'm being affected than most people here because I'm self employed but I'd gladly go a month like this to protect my parents.

Now we're going to have to go back to work sooner or later simply because it's not sustainable but the attitude that old people's lives don't matter irks me.
 

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