It's real unemployment to the people who are getting laid off and there's zero guarantee they'll get their jobs back when this is over... Whenever that may be.
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Michigan just released their unemployment numbers: 108,000 last week. Up from a usual 5,000. (Over 540,000 people in Pennsylvania alone)
- Thread starter WedgeX
- Start date
My wife and I luckily have our jobs, and a good emergency cushion but fucking YIKES at these overall numbers. Shit is dire.
Lol yeah, something extreme like that screams "collapse of society." Scary to think about, even as unlikely as it is.
Yeah, basically it only goes under if the Aliens have invaded and blown up the White House. And by that point money is the least of anyone's concerns.
Since rich people would be negatively affected by that, they'll gladly borrow a fuckton of money from countries like China if needed.
This is why universal basic income will be the only thing that can get us all through to the other side (vaccine). Its either that or there will be rioting in the streets of every city. :(
If there's no stimulus/ubi in the next few weeks, riots are going to pop up real fucking quick.
They're not going give much of a fuck for the virus once peoples money starts dwindling even faster than it already is.
I knew Trump, his administration, and the GOP were fucking monsters, but holy shit, they really fucked all this up.
They need dragged with this, relentlessly.
Desperate times call for desperate measures Coolverine.
I think the government needs to give out vacation vouchers or something because there's zero incentive to spend a check on the hardest hit industries instead of putting it under the couch cushions.
I was planning on coming back to the States in May. I've been teaching English in Japan, but I don't want to go back to this current economy. I have an accounting degree, but I feel like the job search at this particular time would be awful.
I'm just going to stay in Japan until things settle down and stabilize.
I'm just going to stay in Japan until things settle down and stabilize.
Most certainly, one of the only things that was stopping mass protests and riots in the country was employment, and guess what we have a lot of and not doing now.
The problem is, unless the banks/mortgage companies/utilities are constrained somehow, people won't have time. We need a full-on hard stop and a socialist economy for the next several months as everything returns to normal. The government needs to mandate no evictions/freeze in ALL mortgages for 6 months to a year, no disconnected/freeze in utility bills for a year and no debt collection for a year as the entire economy rebuilds/people rebuild their lives.
the american economy post-2008 was held together by dollar store scotch tape and a lot of bullshit. not surprised that a single pandemic is taking it out in a matter of months.
If only anyone could've foreseen that not even attempting to fix the US economy since 2008 would result in disaster at the first opportunity.
Sheesh, but seeing all the places in town that have been closed (the theater I work at included), it's sadly not surprising. Doesn't help I live near CMU, so business is probably even slower with no school happening.
I applied last week & still waiting for my first payment. Only have one week of PTO I can rely on for some extra cash & it isn't helped that earlier today, I got the news I'm out of a job for another 2 weeks until April 13th.
My dad is somehow lucky that the butchering place he works at is still open & his wife is a nurse that drives to patients' homes to check on them so she's still got work.
All I can do now is just ensure I don't let the situation sink in worse & just focus on hoping for the best.
I applied last week & still waiting for my first payment. Only have one week of PTO I can rely on for some extra cash & it isn't helped that earlier today, I got the news I'm out of a job for another 2 weeks until April 13th.
My dad is somehow lucky that the butchering place he works at is still open & his wife is a nurse that drives to patients' homes to check on them so she's still got work.
All I can do now is just ensure I don't let the situation sink in worse & just focus on hoping for the best.
Because it is the beginning...
Things will probably only get worse from here.
But they kept telling us the economy was doing really well!
How were we to tell by obvious signs that it was held together with chewing gum and string!?
Driving around Ann Arbor and seeing all the restaurants and such closed...it's gotta suck for them right now.
I'm going out very, very briefly only and supporting only small businesses we were regulars at...very cautiously.
Talked with a few and it is slow for them but they are surviving.
Visited one of our local-ish comic book / game stores in Ypsi today. He didn't have the game I was looking for for my wife, but I bought $60 in Magic card boosters. It was the owner running the place. Normally some younger folks are working behind the counter. Can't imagine those employment numbers are going to get better. Hopefully Congress gets their shit together and gets some sort of small business loans or grants up and running , and Democrats get most of the money put towards unemployment and stuff that actually matters.
I'm going out very, very briefly only and supporting only small businesses we were regulars at...very cautiously.
Talked with a few and it is slow for them but they are surviving.
Visited one of our local-ish comic book / game stores in Ypsi today. He didn't have the game I was looking for for my wife, but I bought $60 in Magic card boosters. It was the owner running the place. Normally some younger folks are working behind the counter. Can't imagine those employment numbers are going to get better. Hopefully Congress gets their shit together and gets some sort of small business loans or grants up and running , and Democrats get most of the money put towards unemployment and stuff that actually matters.
Only 17 states.
Catastrophically bad.
These Updating Charts Show The Record Number Of Americans Filing Unemployment Claims
Unemployment claims in the US have soared as the coronavirus shuts down large parts of the global economy. Here are some charts we’ll continue to update.
www.buzzfeednews.com
Trump sucks and all, but what would he have done to prevent this?
the entire reason for the high unemployment is an attempt to limit the spread of the virus. If we weren't taking active steps to limit the virus the unemployment would be much lower.
An illusion projected to maintain an idea that no longer serves our highest self.
Look at what South Korea is doing. Things were always going to get worse than before COVID19. They didn't have to become catastrophically bad. If your couch catches on fire, having a charred couch is way better than a whole house burned to the ground.
Do you have current unemployment numbers for South Korea?
Are you assuming everyone in South Korea is just going into work as normal?
No amount of "fixing" would have prevented the need to put a quarter+ of the working population at home for months.
Trump fucked up, but even with a Dem in office this would have been really bad. How much better who knows, but this wasn't a single term issue. The problems that exist would have needed to be dealt with a decade plus ago. Even then we'd still be hurting.
I mean, maybe, but that's a completely different subject. If Trump didn't treat this like a hoax, the country would be a lot more prepared to handle this rather than let it get out of hand and past the point of no return. Mandatory state-wide lockdowns are required because of lack of leadership.
H1N1 outbreak had over 1 million tests distributed by the US in the first 5 months of the outbreak. The test was completed two weeks after the first case was detected stateside.
We had multiple months of a heads up with the virus devastating China, the WHO already had a test, and we've only just now gotten to the point where we're testing people semi-regularly in big cities. We're getting tests shipped to us from overseas.
We also had the president and multiple senators, despite having received classified briefings on how bad the virus really is and the rate of infection, spend weeks downplaying the threat and delaying swift containment because they wanted to prop up the stock market a few more weeks. He conned the Fed into dropping interest rates so we have no buffer in the event of recession.
We have the president now giving daily press conferences shouting scientific, logistical, and economic misinformation.
We have a president afraid to use the Defense Production Act because his industry friends want to use this opportunity to price gouge for PPE and medical equipment.
We have a president who is still trying to kick millions off of meal assistance during the crisis.
We have a president who is currently suing to destroy the ACA, which is the only thing keeping some families from bankruptcy as they face this medical crisis.
We have a president who is still openly trying to use the current situation to grift, supporting a Senate bill that would give his Treasury department a half-trillion slush fund with no transparency until after the election, and in a press conference just today he refused to say that his companies wouldn't take bailout money. They're still dragging their feet on unemployment insurance and UBI and free testing/treatment, all of which we'll need to get to the other side of this without 1/3 of the country ending up on the street.
So no, Trump couldn't have stopped nature itself, but let's not pretend any candidate in the most recent primary wouldn't have run circles around him in responding to the crisis.
Adding to this- before shit hit the fan, Trump rejected offers (several times) for testing kits from overseas countries.
Another president would have helped limited the spread, another president would have helped affected people pay for treatment, another president would have gotten efficient testing out quicker.
But the current unemployment crisis would have happened regardless, in fact it may have happened sooner.