;D I didn't want to be the first to admit to staying in PJs all day.Cornflakes said:Everything mentioned here plus drycleaning costs. I have been in my PJs/workout attire for past 14 days. Wash Dry Repeat.
Other way to look at it, those are all the small businesses that must be suffering badly.
daedalus said:Is anyone here spending more money or even the same money because of this? Regardless of whether your job is secure:
Can't go out to eat
Can't to go movies
Can't go to theme parks
Can't go on vacations
Can't go to the gym
Can't go to school or daycare
Can't host birthday parties or other social gatherings
Less need to buy a new car or other forms of transportation, and related costs (fuel, service)
Personally my family is saving over $2000/month just on monthly recurring expenses for our daughter (daycare, gym, dance, karate). I don't think I've driven even 5 miles in the past week+. We used to go to Costco weekly to stock up on groceries, which is essential, but I would also buy a lot of other stuff while there.
The only thing I think we'll be spending more on is groceries, as we are looking to start home deliveries from Amazon, Costco and others. But that's a small amount relative to what we'll be saving.
I imagine a lot of people are in the same boat, even with the same paycheck. Then add in the millions who have been laid off or are at risk of losing their jobs. How is consumption not going to drop by trillions per year? Depression, indeed.
Also, this looks to further drive income inequality.
qwerty said:+300 for house cleaning - although I think I?m going to pay our cleaning ladies 50% for each missed visit to help them out.
daedalus said:;D I didn't want to be the first to admit to staying in PJs all day.Cornflakes said:Everything mentioned here plus drycleaning costs. I have been in my PJs/workout attire for past 14 days. Wash Dry Repeat.
Other way to look at it, those are all the small businesses that must be suffering badly.
I am trying to stick to a resolution to support my 2 favorite independent restaurants. Other than a routine Chipotle splurge (now on hiatus), we eat out probably less than once a month on average. But I told myself I need to step up and support my 2 fav places. Went to 1 a couple weeks ago, and called the other 1 last night for dinner...no answer. I will ride by there on my bike in a bit, but I fear the worst for them. And they're such nice people.
aquabliss said:Let us know the spots, we?ll help support as well. I like small businesses where the owners go out of their way to make you feel welcome.
Since we?re on the topic, I highly encourage you guys to try Noonerz in Laguna Hills (open for lunch weekdays only). The owners name is Wayne (super nice guy), makes hands down the best turkey sandwich you ever ate. Order the number 1, get the potato salad as your side, and pick a cookie. I think the combo is like $10.50ish, but best most flavorful sandwich ever.
If it's fully baked in, why didn't the market drop more? I still think we will see a lower low. Agree with your best case scenario for finding a cure or a vaccine, but they could find a treatment using existing drugs sooner. Possible if not likely.Compressed-Village said:The Greater Recession is now fully baked in and is consensus.
This will be worse than 08-09 recession.
Is it going to be 2 or 3 quarters, then recovery start at the beginning of 4th quarter of this year? That would be the best case scenario.
daedalus said:If it's fully baked in, why didn't the market drop more? I still think we will see a lower low. Agree with your best case scenario for finding a cure or a vaccine, but they could find a treatment using existing drugs sooner. Possible if not likely.Compressed-Village said:The Greater Recession is now fully baked in and is consensus.
This will be worse than 08-09 recession.
Is it going to be 2 or 3 quarters, then recovery start at the beginning of 4th quarter of this year? That would be the best case scenario.
How much will GDP contract because of this? Maybe not much, only because consumption will be replaced by govt spending. But that certainly will not be a healthy tradeoff.