(03-29-2020, 08:01 AM)eppie Wrote: I am afraid of the economic crisis that will likely follow this corona crisis.
The financial crisis is only intensifying daily. At this point, there is nothing that will save many mom-and-pop restaurants and salons. One of our managers was robbed yesterday at knife-point by four desperate individuals he could only describe as semi-homeless looking. We are only two-weeks in folks... Throw two more months atop this, and I can almost guarantee some serious crimes taking place all in the name of putting food on the table. They (Trump admin and congress) should have fixed immigration, one way or the other, before this mess because now, you have hundreds of thousands of illegals here without a way to get home, without any way to get many of these aid and stimulus packages. Yeah, I guess Trump predicted the future alright, but only because it's a path he inadvertently laid out and created on his own!
I digress... the Stim package borrows to businesses at their own expense (they must pay the government back), but not to individuals. This will assuredly and inevitably lower the value of the dollar! You can't just add 3-trillion to the national debt with zero sources of value to back that up with other than future labor. This will have an effect, and that effect will lower the value of the dollar. The stock markets will take years to get back to where they were.
If they (the world) wanted to do this correctly, they'd have conducted a world-wide shut down for 1-entire month, putting a hold on all financial transactions and a freeze on the stock market. Then when things cooled off, everything would be status quo, minus the dead. The way this was handled was with very poor foresight and could potentially be catastrophic to us financially, as in stocks crashing, the dollar value = 0, then what? I'm just happy I own my own home...
