Coronavirus Recession
- Thread starter eyephone
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Irvinehomeseeker
Active member
But the market is up and so is shares of Chase....how is that? Sounds like these losses are already priced into the market?eyephone said:
sgip
Well-known member
The school lunch programs have effectively been "food lines for children". Many school districts are keeping their school lunch kitchens open, passing out hot meals whenever possible because so many families have come to rely on them due to food insecurity.
Soup kitchens aren't just for the hobos either. There are plenty of senior citizens who come daily to soup kitchens because they do not have access to consistent meals due to the cost of living. One wonders though if the population of seniors coming to soup kitchens is the same in OC compared to other large metropolitan areas like Denver or St Louis. Is it that one is compelled to take free food in exchange for living in OC? I don't know the answer. What I do know is that we've had food lines here in OC well before this pandemic.
My .02c
Soup kitchens aren't just for the hobos either. There are plenty of senior citizens who come daily to soup kitchens because they do not have access to consistent meals due to the cost of living. One wonders though if the population of seniors coming to soup kitchens is the same in OC compared to other large metropolitan areas like Denver or St Louis. Is it that one is compelled to take free food in exchange for living in OC? I don't know the answer. What I do know is that we've had food lines here in OC well before this pandemic.
My .02c
morekaos
Well-known member
Markets are discounters of future events. What do you think that whole madness was all about just 2-3 weeks ago? Markets are now pricing in a V shaped recovery. Maybe they will be right, maybe they will be wrong but don't you just hate it when they don't reflect your current emotional or political view? Hate it when that happens. >
AMC Theatres Reportedly in Talks with Bankruptcy Lawyers
https://movieweb.com/amc-theatres-bankruptcy-law-firm-weil-gotshal-manges/
https://movieweb.com/amc-theatres-bankruptcy-law-firm-weil-gotshal-manges/
More Wisconsin farmers filing for bankruptcy
https://www.wbay.com/content/news/More-Wisconsin-farmers-filing-for-bankruptcy-569628591.html
Denim retailer True Religion files for bankruptcy protection amid coronavirus crisis
https://www.cnbc.com/2020/04/13/den...uptcy-protection-amid-coronavirus-crisis.html
Amusement Park Operator Part-Owned By Carlyle Files For Bankruptcy
https://www.bisnow.com/national/new...nt-park-operator-files-for-bankruptcy-103872?
https://www.wbay.com/content/news/More-Wisconsin-farmers-filing-for-bankruptcy-569628591.html
Denim retailer True Religion files for bankruptcy protection amid coronavirus crisis
https://www.cnbc.com/2020/04/13/den...uptcy-protection-amid-coronavirus-crisis.html
Amusement Park Operator Part-Owned By Carlyle Files For Bankruptcy
https://www.bisnow.com/national/new...nt-park-operator-files-for-bankruptcy-103872?
usctrojancpa
Well-known member
morekaos said:Markets are discounters of future events. What do you think that whole madness was all about just 2-3 weeks ago? Markets are now pricing in a V shaped recovery. Maybe they will be right, maybe they will be wrong but don't you just hate it when they don't reflect your current emotional or political view? Hate it when that happens. >
The market is getting a bit disconnected from reality and that's mainly due to the Fed throwing multiple kitchen sinks at the situation (I mean, when did you ever think that they would buy not only investment grade corp bonds but corp junk bond indexes). As the saying goes, don't fight the Fed but there is no way we will get a V-shaped recovery until there is a vaccine which won't happen until next year. Does anything thing that restaurants, movie theaters, stadiums, or travel will even come back 50% when the stay at home orders get lifted? I don't because there's been too much damage caused by the situation.
USCTrojanCPA said:morekaos said:Markets are discounters of future events. What do you think that whole madness was all about just 2-3 weeks ago? Markets are now pricing in a V shaped recovery. Maybe they will be right, maybe they will be wrong but don't you just hate it when they don't reflect your current emotional or political view? Hate it when that happens. >
The market is getting a bit disconnected from reality and that's mainly due to the Fed throwing multiple kitchen sinks at the situation (I mean, when did you ever think that they would buy not only investment grade corp bonds but corp junk bond indexes). As the saying goes, don't fight the Fed but there is no way we will get a V-shaped recovery until there is a vaccine which won't happen until next year. Does anything thing that restaurants, movie theaters, stadiums, or travel will even come back 50% when the stay at home orders get lifted? I don't because there's been too much damage caused by the situation.
To go further I would say. I am not goin to go to a movie theater to have someone cough or sneeze by me. Same thing with a theme park. (unless there is a vaccine)
(Throw in mall, restaurant, store, etc..)
eyephone said:USCTrojanCPA said:morekaos said:Markets are discounters of future events. What do you think that whole madness was all about just 2-3 weeks ago? Markets are now pricing in a V shaped recovery. Maybe they will be right, maybe they will be wrong but don't you just hate it when they don't reflect your current emotional or political view? Hate it when that happens. >
The market is getting a bit disconnected from reality and that's mainly due to the Fed throwing multiple kitchen sinks at the situation (I mean, when did you ever think that they would buy not only investment grade corp bonds but corp junk bond indexes). As the saying goes, don't fight the Fed but there is no way we will get a V-shaped recovery until there is a vaccine which won't happen until next year. Does anything thing that restaurants, movie theaters, stadiums, or travel will even come back 50% when the stay at home orders get lifted? I don't because there's been too much damage caused by the situation.
To go further I would say. I am not goin to go to a movie theater to have someone cough or sneeze by me. Same thing with a theme park. (unless there is a vaccine)
(Throw in mall, restaurant, store, etc..)
But it is just a cough. Lol
irvinehomeowner
Well-known member
Instead of starting a new thread, I'll discuss this here.
How are all of you doing? Anyone get laid off? Anyone get their salaries cut? I have a few friends who have have had both done to them. My family is okay for now but you never know.
Saw on TV that meat industry may be in trouble because so many line workers are sick... are we going to have a meat shortage and will ground beef be the new TP?
What are the other things that will be impacted by this?
One thing is with all this remote work going on, will employers decide they don't need large offices and keep some workers remote thus affecting commercial real estate?
Less driving, less traffic, less pollution, lower auto insurance premiums? Or will that all just bounce back?
Social distancing protocol the new norm? Restaurants will have waitpersons with masks and gloves and disposable menus.
Cashless society? No more "dirty" money changing hands. NFC payments will increase so you don't even have to touch the credit card machine.
Internet bandwidth/infrastructure focus?
Nail in the coffin for brick and mortar stores?
Sports and entertainment industry changes? Will the crowds come back... or will everyone watch online (like WWE?). Or the whole stadium of fans will be wearing masks?
Or will proper vaccines and treatment protocols allow all these things to get back to how they were?
How are all of you doing? Anyone get laid off? Anyone get their salaries cut? I have a few friends who have have had both done to them. My family is okay for now but you never know.
Saw on TV that meat industry may be in trouble because so many line workers are sick... are we going to have a meat shortage and will ground beef be the new TP?
What are the other things that will be impacted by this?
One thing is with all this remote work going on, will employers decide they don't need large offices and keep some workers remote thus affecting commercial real estate?
Less driving, less traffic, less pollution, lower auto insurance premiums? Or will that all just bounce back?
Social distancing protocol the new norm? Restaurants will have waitpersons with masks and gloves and disposable menus.
Cashless society? No more "dirty" money changing hands. NFC payments will increase so you don't even have to touch the credit card machine.
Internet bandwidth/infrastructure focus?
Nail in the coffin for brick and mortar stores?
Sports and entertainment industry changes? Will the crowds come back... or will everyone watch online (like WWE?). Or the whole stadium of fans will be wearing masks?
Or will proper vaccines and treatment protocols allow all these things to get back to how they were?
To answer IHO sports question. Unless there is a vaccine or a cure or a miracle drug or mass testing.
For next season or when ever it starts up. (2020 season and beyond, not the current season) I think possibly the salary cap will be lower. Since there will be fans or fans may not likely not go.
For next season or when ever it starts up. (2020 season and beyond, not the current season) I think possibly the salary cap will be lower. Since there will be fans or fans may not likely not go.
I think you nailed on many possible new normals. Cashless society, working from home, and online views for sports and entertainments are all possible scenarios at this point. People would definitely be more germaphobic. Your sneeze might not receive bless you anymore.
But like you said, all these might get back to how they were if the vaccine is developed and everyone is required to get it like hepatitis ones. I also heard some people are pushing for chips in our bodies to easily get vaccinated and stuff. That's almost straight up that 666 thing in your head or hand like how the book of Revelation from the Bible talks about the future. So hopefully we don't get to that level any time soon, but you never know.
Meanwhile, it's possible that online technology might get developed to another level like full resolution VR for sports games and etc. Just like what we were talking about how more people are viewing or watching stream online services from churches, similar pattern might develop for others. Dodgers/Lakers games might offer online tickets from $5 for a normal view to $100 for full 4K VR experience view or something.
These are all just speculations so might not ever happen.
But like you said, all these might get back to how they were if the vaccine is developed and everyone is required to get it like hepatitis ones. I also heard some people are pushing for chips in our bodies to easily get vaccinated and stuff. That's almost straight up that 666 thing in your head or hand like how the book of Revelation from the Bible talks about the future. So hopefully we don't get to that level any time soon, but you never know.
Meanwhile, it's possible that online technology might get developed to another level like full resolution VR for sports games and etc. Just like what we were talking about how more people are viewing or watching stream online services from churches, similar pattern might develop for others. Dodgers/Lakers games might offer online tickets from $5 for a normal view to $100 for full 4K VR experience view or something.
These are all just speculations so might not ever happen.
marmott
Active member
https://www.theinformation.com/articles/opendoor-lays-off-about-600-employees
Home-buying startup Opendoor laid off more than 600 employees Wednesday, one of the deepest cuts from a private tech firm since the coronavirus outbreak sent the economy into a tailspin.
The layoffs amount to 35% of Opendoor?s staff, CEO Eric Wu said in a statement. The company halted home purchases last month, cutting off the home-selling fees that are its main source of revenue. The pause also leaves Opendoor with a number of homes that the firm will likely have to sell for a loss, or pay to maintain as they await sale.
Home-buying startup Opendoor laid off more than 600 employees Wednesday, one of the deepest cuts from a private tech firm since the coronavirus outbreak sent the economy into a tailspin.
The layoffs amount to 35% of Opendoor?s staff, CEO Eric Wu said in a statement. The company halted home purchases last month, cutting off the home-selling fees that are its main source of revenue. The pause also leaves Opendoor with a number of homes that the firm will likely have to sell for a loss, or pay to maintain as they await sale.
irvinehomeowner
Well-known member
I heard on ESPN last weekend that the XFL, who was in the middle of their reboot season has been suspended and will probably be done.
I think it was good to have an off-season football league.
It will be interesting to see which businesses can come back... and not just the small ones.
I think it was good to have an off-season football league.
It will be interesting to see which businesses can come back... and not just the small ones.
Disney Park just put 30,000 employees on furlough.
that's a lot of people around OC suddenly without pay.
Sure, we have the federal grant, and EDD. but EDD has been very difficult to reach, and no one knows how to distribute the federal grant yet.
I think there are some upcoming changes to the society, some good, some bad.
1. Many older business owners I have worked with were completely opposed to work from home, but now they were forced to, many find it acceptable. hopefully they remain the same outlook once the pandemic is over and offer a more flexible working schedule/type for different workers and reduce traffic.
2. most people work from home, the less space office buildings may take, so who knows, maybe a decade down the line, some of the current business district will be converted to living area and relive some housing issues.
3. People are taking hygiene more seriously. Hopefully, this remains even after the outbreak.
4. Things aren't returning to normal until a vaccine is developed, and even with the vaccine developed, it won't work unless the majority of the population is vaccinated. I sincerely hope USA will start enforcing vaccination and remove the bullshit religious exemptions.
edit:
Forgot to metion, we may be toward a much more cashless future. but once everything runs credit, people with less credit or does'nt half means to obtain credit will be living a harder life.
that's a lot of people around OC suddenly without pay.
Sure, we have the federal grant, and EDD. but EDD has been very difficult to reach, and no one knows how to distribute the federal grant yet.
I think there are some upcoming changes to the society, some good, some bad.
1. Many older business owners I have worked with were completely opposed to work from home, but now they were forced to, many find it acceptable. hopefully they remain the same outlook once the pandemic is over and offer a more flexible working schedule/type for different workers and reduce traffic.
2. most people work from home, the less space office buildings may take, so who knows, maybe a decade down the line, some of the current business district will be converted to living area and relive some housing issues.
3. People are taking hygiene more seriously. Hopefully, this remains even after the outbreak.
4. Things aren't returning to normal until a vaccine is developed, and even with the vaccine developed, it won't work unless the majority of the population is vaccinated. I sincerely hope USA will start enforcing vaccination and remove the bullshit religious exemptions.
edit:
Forgot to metion, we may be toward a much more cashless future. but once everything runs credit, people with less credit or does'nt half means to obtain credit will be living a harder life.