Coronavirus (COVID-19 Outbreak) (74 Viewers)

OP
Bjerknes

Bjerknes

"Top Economist"
Mar 16, 2004
116,264
  • Thread Starter
  • Thread Starter #1,583
    Federal interest rates are now zero @Bjerknes
    Yes indeed, not surprising. Although I was actually thinking they would hold off to announce it until Wednesday, but they must have been concerned with a total collapse in credit and lending tomorrow, and another stock market crash. They basically used all of monetary policy options other than rates going to zero, or negative. The Fed will print a disastrous amount of money to keep markets from locking up, but it won't work long term, and maybe even short term.

    Edit: Cutting now, this low, screams of desperation. I'm actually more concerned now. I think there might be something up with the credit markets.
     
    Last edited:

    pavluska

    Senior Member
    Apr 25, 2013
    7,339
    not a single country managed to react too early.
    By definition, it's impossible to react too early to any disease, and with the nature of this one, it was impossible to overdo with the reaction as far as govts are concerned. Kudos to the few that reacted early and reacted well.

    Lol at American healthcare system and politicians at every level bar some local politicians.
     

    Dostoevsky

    Tzu
    Administrator
    May 27, 2007
    89,029
    That's the thing.

    I was thinking what was gonna happen here if companies were forced to spend employees on a vacation for 2-3 weeks. I told my friends it's gonna be unpaid. Unlike in bigger and more developed countries, over here it's a huge thing if that happens because plenty of people are literally spending just as much to keep on going day after day. There's nothing on a bank account and not having any incomes for 2-3 weeks is gonna be devastating.
     

    AFL_ITALIA

    MAGISTERIAL
    Jun 17, 2011
    31,834
    Unfortunately, closing schools is the wrong decision.

    I don't understand why politicians aren't referring to disease experts (other than in Cali), why that hasn't occured to them yet.
    I disagree.

    Meals will still be distributed to kids, and there will be sites opened providing childcare to essential city workers so that vital services continue to run. In my opinion, this is exactly what we needed.

    - - - Updated - - -

    Yes indeed, not surprising. Although I was actually thinking they would hold off to announce it until Wednesday, but they must have been concerned with a total collapse in credit and lending tomorrow, and another stock market crash. They basically used all of monetary policy options other than rates going to zero, or negative. The Fed will print a disastrous amount of money to keep markets from locking up, but it won't work long term, and maybe even short term.

    Edit: Cutting now, this low, screams of desperation. I'm actually more concerned now. I think there might be something up with the credit markets.
    Worrying times ahead.
     
    Jun 7, 2003
    3,498
    Yep, but i will lose my 2 weeks of my vacation which i wanted for summer or September. Doesn't bother me. Everyone has to bring sacrifices for the weak ones in our society.

    The only thing which bothers me is that i drank almost all my beer yesterday. What's the situation in Serbia? I heard the President said, Rakija is the Solution to Corona.
     

    Dostoevsky

    Tzu
    Administrator
    May 27, 2007
    89,029
    Yep, but i will lose my 2 weeks of my vacation which i wanted for summer or September. Doesn't bother me. Everyone has to bring sacrifices for the weak ones in our society.

    The only thing which bothers me is that i drank almost all my beer yesterday. What's the situation in Serbia? I heard the President said, Rakija is the Solution to Corona.
    Pffff, that sucks big time. I always find it horrible if vacation isn't used during the summer.

    :D Well, so-so. One part of me thinks many people are handling the situation quite mature & with respect toward others and themselves. What I do not like is the panic which seems way too high, especially regarding shops and unreasonable buying of everything x10 of their need. However, it seems from tonight it won't be possible to buy more than 6kg of stuff per person which should lower the idiocy at least. If we're talking about corona itself, we still didn't hit 50 infected while nobody died yet. Since we have declared national emergency tonight, I expect huge chunk of population hitting stores in the morning and creating mess. I'm kinda worried what happens if national emergency keeps tightening, meaning if it becomes like Italy/France, I think plenty of people will have a huge problem with their income. I hate our president big time but he's handling the situation in the best way possible imo, even better than some big countries. But yeah, it depends how serious it gets here since our medical facilities aren't really that amazing, plus the capacity of beds and respirators (we have around 1000 I think) isn't very high and that can create a huge problem. I'm kinda used at being outside almost all day so four walls are gonna drive me nuts surely. However, this is gonna be a reading week, I'm gonna stuff my brain with books. I'll start working next Monday most likely.
     
    Jun 7, 2003
    3,498
    Pffff, that sucks big time. I always find it horrible if vacation isn't used during the summer.

    :D Well, so-so. One part of me thinks many people are handling the situation quite mature & with respect toward others and themselves. What I do not like is the panic which seems way too high, especially regarding shops and unreasonable buying of everything x10 of their need. However, it seems from tonight it won't be possible to buy more than 6kg of stuff per person which should lower the idiocy at least. If we're talking about corona itself, we still didn't hit 50 infected while nobody died yet. Since we have declared national emergency tonight, I expect huge chunk of population hitting stores in the morning and creating mess. I'm kinda worried what happens if national emergency keeps tightening, meaning if it becomes like Italy/France, I think plenty of people will have a huge problem with their income. I hate our president big time but he's handling the situation in the best way possible imo, even better than some big countries. But yeah, it depends how serious it gets here since our medical facilities aren't really that amazing, plus the capacity of beds and respirators (we have around 1000 I think) isn't very high and that can create a huge problem. I'm kinda used at being outside almost all day so four walls are gonna drive me nuts surely. However, this is gonna be a reading week, I'm gonna stuff my brain with books. I'll start working next Monday most likely.
    Okay, yes this is a concern with the income i have some friends there. They live like you said from month to month, without any backup if the companies decide not to pay them.

    Yes, time for reading, playing FIFA and some studying. But let's hope that this nonsense goes away and we can go back to normality
     

    pavluska

    Senior Member
    Apr 25, 2013
    7,339
    I disagree.

    Meals will still be distributed to kids, and there will be sites opened providing childcare to essential city workers so that vital services continue to run. In my opinion, this is exactly what we needed.

    - - - Updated - - -


    Worrying times ahead.
    It's not that bad then. But overwhelming majority of school kids are safe from the virus and don't asymptomatically spread it unlike 20 yo's.
     

    pavluska

    Senior Member
    Apr 25, 2013
    7,339
    CDC's YouTube clips: most of us will come into contact with covid 19, some will get infected, if you're young and healthy and think you might have it just stay home, if you have it and are having difficulties then call 911

    Best we can do under current circumstances with limited test kits and no pandemic team.
     
    OP
    Bjerknes

    Bjerknes

    "Top Economist"
    Mar 16, 2004
    116,264
  • Thread Starter
  • Thread Starter #1,599
    Breaking News...


    - - - Updated - - -

    Goldman Sachs chief economist predicts a -5% growth for Q2, and 0% for Q1.
    That may even be conservative. But I hate these stock photos of someone holding their head on the exchange. That makes it seem like everyone is losing money, but lots are making money on the short side of the trade.
     

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