US economy is falling down like a ship at Waterfall, Will the second great depression hit the country? ?
- Anonymous2 months ago
If the closure of non essential businesses does not end soon. Then yes. There will likely be a second great depression. Fortunately, I believe non essential businesses will soon be reopening. And by soon I mean May 2020 sometime. I pray I'm correct.
- Spartacus!Lv 72 months ago
It's too early to tell. Some business categories will further reorganize, such as movie distribution, which was already moving to more of a direct to consumer on demand model for new movies, as many films have a very limited time in theaters, and considerably less time than movie stayed in theaters 20 or more years ago. Manufacturing could be reorganized to require fewer employees in any given workspace to allow for more social distancing, as well as continue trends toward greater automation, so fewer workers are needed to perform work in a production environment. Restaurants will temporarily switch much more heavily to a takeout/delivery model, and will likely have to reduce eating capacity or have physically larger venues to maintain the same amount of seating while increasing distance between small groups. Service and while collar jobs such as banking and law will also have to take measures to decrease the number of people per square foot. This in turn will have a substantial impact on the commercial real estate industry, likely permanently reducing rental income per square foot. Whether this becomes a depression or just a severe recession depends on on how the economy can reorganize in ways that make sense in a new health environment, which likely will also take into account adapting to and combating climate change.
- OiyLv 62 months ago
Sure it is. And it doesn't know still how to do about it. A $2 trillion package is just a peanut in the ocean. Experts still don't know if the complete shutdown and the GPS tracker to all Americans should be released.
- ANDRE LLv 72 months ago
The utter ignorance and incompetance of the Fat Donnie Criminal Administration was always going to make this big a mess.
The President went BANKRUPT in the CASINO business. No one has ever been that BAD at business, ever before.
- What do you think of the answers? You can sign in to give your opinion on the answer.
- 2 months ago
Yes quite possible. Many will lose their job, in the sectors of travel, retail, detail and hospitality. The one who do keep their job fall back on a small amount of support or benefits and businesses will need to shrink, meaning less jobs. The economy will only repair very slowly and many people will have to find a new place. Re-education to the care sector or the maintenance sector could be interesting, so many will sign up for these courses once they are possible again. People will spend a lot less on unnecessarily goods, mostly because stocks will be depleted and savings eaten. I pray for those who go bankrupt and have their houses taken away. I predict suicides, family dramas, and a lot of unemployment.
- EdwardLv 72 months ago
Could be if they don’t find a cure soon.
- yodiLv 62 months ago
if 50% of the small businesses are bankrupt by September you will be
- Anonymous2 months ago
No. Because for the first time ever, a president side-stepped the fed. The fed intentionally caused the Great Depression.
- Lib NemesisLv 52 months ago
Stock market popping today. Oil up 20%. The Trump economy cannot be defeated