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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Handyman said:
There is no way anyone could have planned for this even if they planned for a Pandemic. No model done would show the Economy shutting down this hard, this fast in every state. You expect this type of impact over months not weeks. Anyone who says otherwise is using hindsight. Even if Obama was in charge this thing would be tanking...

The rent issue is going to be huge. The fact that the Stimulus Bill (oh man I know I noticed the stimulation!!) did nothing to help renters or home owners is going to cause an even bigger slow down. Every state doesnt have the clout of California who got the banks to agree to forbearance. People think just because some states made it impossible to evict for the time being that changes anything but in reality it doesnt. In fact the only thing it does is kick the overall problem down the road. Banks might not be able to default you, but they can (and will) force a balloon payment after the restrictions are lifted as can landlords with back rent. So yay you wont be homeless now but come August you are right and goodly phukked. And with the housing market slowing...well...yeah.

This is gonna get ugly.
Click to expand...

I believe that when people look back and study how we responded to this pandemic, they will conclude the US did the wrong thing. Yes, they will conclude that the federal government screwed up in terms of the speed at which it responded (assuming we can claim they've even responded at all).

But the idea of just saying "today we're going to close 40% of our economy" and then deal with it tomorrow is ultimately going to be proven to be a very, very bad idea.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

oh we'll have an 'i am legend' vaccine in no time.

of course when there are zombies popping up everywhere in 2022, president trump will claim "nobody saw these zombies coming" before he called arod again, and will smith to ask what he should do! :p
 
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