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koraks
Registered: 06/02/03
Posts: 26,689
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Re: Moved to part time due to Coronavirus [Re: koods] 1
#26533761 - 03/14/20 12:57 AM (3 years, 10 months ago) |
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Quote:
koods said: I don’t think there is any doubt we are now in a recession.
By definition, there can only be a recession if the economy is affected over a period of a few months. Hence, a one-week downturn is not a recession. This of course does not change anything about the chance that a recession has just started over the past few days. Based on earlier predictions of economists, this is a very likely scenario. The only thing needed was a trigger, and we have one now.
More economic hardship is likely ahead, and the question is only how badly it will hit us. I think it will depend greatly on the extent to which stock markets will be able to recover (or not) once the initial panic is reduced and production starts to grind into gear again. Given the nature of this pandemic, it will probably take at least 8-12 weeks before that starts to happen. Until that time, we can only hope that the market stabilizes somewhat. Obviously, even if it stabilizes throughout the crisis, we have not yet hit the point where it's likely to do so as we're still only witnessing the initial response. The following 2-3 weeks will likely be characterized by a further downward spiral. This implies that the current development we're seeing is likely to be worse than the 2008 credit crunch at least in the short term, with severe uncertainty for the medium to long term.
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cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
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Re: Moved to part time due to Coronavirus [Re: koraks]
#26533935 - 03/14/20 05:09 AM (3 years, 10 months ago) |
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only in the primary
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koods
Ribbit



Registered: 05/26/11
Posts: 106,313
Loc: Maryland/DC Burbs
Last seen: 1 hour, 9 minutes
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Re: Moved to part time due to Coronavirus [Re: koraks] 1
#26533975 - 03/14/20 05:53 AM (3 years, 10 months ago) |
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Quote:
koraks said:
Quote:
koods said: I don’t think there is any doubt we are now in a recession.
By definition, there can only be a recession if the economy is affected over a period of a few months. Hence, a one-week downturn is not a recession. This of course does not change anything about the chance that a recession has just started over the past few days. Based on earlier predictions of economists, this is a very likely scenario. The only thing needed was a trigger, and we have one now.
More economic hardship is likely ahead, and the question is only how badly it will hit us. I think it will depend greatly on the extent to which stock markets will be able to recover (or not) once the initial panic is reduced and production starts to grind into gear again. Given the nature of this pandemic, it will probably take at least 8-12 weeks before that starts to happen. Until that time, we can only hope that the market stabilizes somewhat. Obviously, even if it stabilizes throughout the crisis, we have not yet hit the point where it's likely to do so as we're still only witnessing the initial response. The following 2-3 weeks will likely be characterized by a further downward spiral. This implies that the current development we're seeing is likely to be worse than the 2008 credit crunch at least in the short term, with severe uncertainty for the medium to long term.
Yes the downturn has to last for of a period of two or three months, but the recession is still considered to have started at the begining of that downturn period. We have negative growth right now and it will show in this months data.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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koraks
Registered: 06/02/03
Posts: 26,689
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Re: Moved to part time due to Coronavirus [Re: koods] 1
#26533995 - 03/14/20 06:07 AM (3 years, 10 months ago) |
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Yes, that's right. And let's be honest; if this doesn't turn into a recession, I don't know what kind of situation would.
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cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
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Re: Moved to part time due to Coronavirus [Re: koraks]
#26534095 - 03/14/20 07:42 AM (3 years, 10 months ago) |
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My brother basically lost his meager wage job 
I did too.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,313
Loc: Maryland/DC Burbs
Last seen: 1 hour, 9 minutes
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Re: Moved to part time due to Coronavirus [Re: cannabinated] 2
#26534121 - 03/14/20 07:58 AM (3 years, 10 months ago) |
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You can get unemployment after this bill is law
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
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Re: Moved to part time due to Coronavirus [Re: koods]
#26534127 - 03/14/20 07:59 AM (3 years, 10 months ago) |
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I live with my parents
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koods
Ribbit



Registered: 05/26/11
Posts: 106,313
Loc: Maryland/DC Burbs
Last seen: 1 hour, 9 minutes
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Re: Moved to part time due to Coronavirus [Re: cannabinated] 1
#26534128 - 03/14/20 08:00 AM (3 years, 10 months ago) |
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So
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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cannabinated



Registered: 01/03/13
Posts: 14,743
Loc: Outside
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Re: Moved to part time due to Coronavirus [Re: koods] 1
#26534131 - 03/14/20 08:00 AM (3 years, 10 months ago) |
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sweet... free money
thanks obama
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koods
Ribbit



Registered: 05/26/11
Posts: 106,313
Loc: Maryland/DC Burbs
Last seen: 1 hour, 9 minutes
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Re: Moved to part time due to Coronavirus [Re: cannabinated] 1
#26534175 - 03/14/20 08:22 AM (3 years, 10 months ago) |
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Welfare queen
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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Gorlax



Registered: 05/06/08
Posts: 6,697
Last seen: 3 days, 21 hours
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Re: Moved to part time due to Coronavirus [Re: koods]
#26541113 - 03/17/20 04:16 PM (3 years, 10 months ago) |
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recession is two quarters in a row of -GDP..
I heard my job let people go so I'm lucky I am at least part time for now and didn't get axed.
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Niffla



Registered: 06/09/08
Posts: 46,742
Loc: Texas
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Re: Moved to part time due to Coronavirus [Re: Gorlax]
#26541262 - 03/17/20 05:58 PM (3 years, 10 months ago) |
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One more day and I'm off until Tuesday. A while ago I put in a vacation request for this Thursday through Monday.
I can change it and save it for later since I'll just be sitting at home but part of me just wants to get home, lock my doors and drink the case of beer I have in my fridge. Then eat a dose and just sit back. I have everything I need and I won't need to leave once until Tuesday morning when I have to go back to work.
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HAIL OUR NEW OTD KING
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watermelon mon
Willow Trees


Registered: 04/05/13
Posts: 7,800
Last seen: 3 years, 3 months
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Re: Moved to part time due to Coronavirus [Re: Niffla]
#26541348 - 03/17/20 06:55 PM (3 years, 10 months ago) |
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After the other day I don't feel safe to go where I need to go.
Edited by watermelon mon (03/17/20 07:21 PM)
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watermelon mon
Willow Trees


Registered: 04/05/13
Posts: 7,800
Last seen: 3 years, 3 months
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Re: Moved to part time due to Coronavirus [Re: watermelon mon]
#26541351 - 03/17/20 06:58 PM (3 years, 10 months ago) |
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The authority's will probably round all of them up soon.
Edited by watermelon mon (03/17/20 07:03 PM)
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