Cal State Online Fall 2020

[natshar]

I think this will cause a depression that will take decades to recover from.

Other than the death, THIS is the worst outcome from COVID. Regular non-financial folks thinking that the virus was the CAUSE of the financial meltdown that will occur. That was already baked into the cake. Business cycles occur in a capitalist system, no matter how much central banks and governments try to eliminate them and turn capital markets into a political utility. Covid only hastens the end of the cycle. So when it all goes down instead of blaming central banks for causing incredible bubbles and encouraging liquidity to flow into the least economically feasible parts of the economy leading to an incredibly damaging end to what could have been a tame end of the business cycle. Instead people just blame the virus. And so we can't point fingers at the true cause of the bubbles, and they'll just PAPER it over do it all over again. Oh well, I have the road map to trade that outcome, as it's what they just did and have been doing for 30 years. Sadly, most people are gonna get smoked.

Obviously there are cycles.  But Covid was something that changed the economy overnight.  We've never gone from 3% unemployment to 20% (or whatever it is) in 2 months before.  It's total insanity.  Covid caused that.

You know what else didn't help?  Listening only to doctors/epidemiologists w/o taking other things into account.  We should have had a well-rounded group of folks advising the President, instead of just doctors who will always err on the side of caution.  No one was talking about the other damage that might occur as a result of shutting down our country.  But, as usual, government is all about not looking at the unintended consequences of their actions (hence people who won't go back to work because they're getting more in unemployment than they would get if they worked - now who would have seen that coming? Oh yeah, EVERYONE except the dopes who thought of it.).

You know the thing is a lot of small businesses have super creative ways to minimize contact. I got a sub at a sub shop you ordered over the phone they had a shelf for pickup outside the door and they taped your receipt to the bag, I didn't see a single employee and didn't enter the restaurant. Where I lived they mandated a lot of places to close now some of them are re-opening now, but I don't know if they had to close in the first place. If small businesses (like mom and pop shops) can think of creative ideas to keep the business going SAFELY. Like curbside pickup, phone in orders, online orders, one person at time, other ideas etc. I don't see why everything had to close if there was a way to do it safely. This would make it so the unemployment rate wouldn't be as high because more places could remain open while still being safe.

Also, the amount of money you get for unemployment is kind of ridiculous. I get enough to equal about $20/hr for 40/hrs a week. I know some states pay even more and if you had a higher paying job you get even more. And to get that I provided no income verification, no work history, nothing and I don't even have to be looking for a job. I heard a story on the news about this restaurant that did curbside, limited menu and was super safe and everything, but couldn't find anyone to work, despite advertising hiring. He said it was because people got paid more to do nothing than to work for him.

So there could have been things to make the unemployment rate not as high as it is and make the consequences not as bad while still maintaining the same safety.

But I am not an expert so course I could wrong on all of this. I have taken numerous college business courses, have family own small businesses, and am making more in unemployment then I was before this. But, I am not saying I know everything (as a lot of people on social media seem to claim these days). I am simply stating my opinion.