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Author Topic: Global recession, supply issues and other COVID-19 consequences  (Read 47898 times)

Tom_Mazanec

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Re: Global recession, supply issues and other COVID-19 consequences
« Reply #900 on: September 16, 2020, 01:11:48 AM »
A Depression For The 21st Century
https://www.kelseywilliamsgold.com/a-depression-for-the-21st-century/
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Some are calling it the “Greater Depression” but that still makes last century’s Depression of the 1930’s the point of reference. The Great Depression of the 1930s was bad, but what we are facing now is worse.

The Depression Of The 21st Century will likely end up being the new singular event  of discussion and comparison for all financial and economic catastrophes.  Questions of how much worse and how long it will last are difficult to answer. Predictions about the type and strength of potential recovery could be premature.
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

vox_mundi

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Re: Global recession, supply issues and other COVID-19 consequences
« Reply #901 on: September 16, 2020, 01:27:13 AM »
Proposed COVID-19 Restaurant Surcharge in NYC Could Add 10% to Dining Out
https://www.nydailynews.com/news/politics/ny-city-council-restaurant-surcharge-covid-coronavirus-10-20200915-rfvrlngnbzb3hdswswucmg33ga-story.html?outputType=amp

The NYC Council is set to vote on a bill Wednesday that would institute a 10 percent surcharge on diners' total bills to help financially-strapped restaurants hard hit by the coronavirus pandemic.

The “COVID-19 Recovery Charge” wouldn’t apply to food trucks and most chains, and would lapse 90 days after full indoor dining is resumed in the city. According to the bill’s language, it would not include taxes or tips and would only be applied to on-premises dining, whether indoor or outdoor.

Saru Jayaraman, president of the advocacy group One Fair Wage, said the bill does not require that restaurant owners share the surcharge proceeds with its employees.
“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” ― Leonardo da Vinci

Insensible before the wave so soon released by callous fate. Affected most, they understand the least, and understanding, when it comes, invariably arrives too late

The Walrus

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Sigmetnow

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Re: Global recession, supply issues and other COVID-19 consequences
« Reply #903 on: September 17, 2020, 12:44:26 AM »
BREAKING:  Fed holds rate steady and promises to keep it there for years. 
What could go wrong? With interest rates near zero for the next three years, people will take money out of savings and invest in any foolish scheme offering more.

Fed Signals Interest Rates to Stay Near Zero Through 2023
https://www.morningstar.com/news/dow-jones/202009168610/fed-signals-interest-rates-to-stay-near-zero-through-2023-5th-update
People who say it cannot be done should not interrupt those who are doing it.

Tom_Mazanec

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Re: Global recession, supply issues and other COVID-19 consequences
« Reply #904 on: September 18, 2020, 12:41:44 PM »
New Zealand in Covid recession after worst quarterly GDP fall on record
https://www.theguardian.com/world/2020/sep/17/new-zealand-in-covid-recession-after-worst-quarterly-gdp-fall-on-record
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New Zealand has entered a recession with the economy contracting 12.2% in the June quarter – the largest drop since such records began in 1987.

Paul Pascoe at Stats NZ said the GDP fall was “by far the largest on record in New Zealand” and reflected months spent in lockdown.
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

wili

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Re: Global recession, supply issues and other COVID-19 consequences
« Reply #905 on: September 18, 2020, 10:03:44 PM »
"
Paul Pascoe at Stats NZ said the GDP fall was “by far the largest on record in New Zealand” and reflected months spent in lockdown."

Problem is, they weren't in "lockdown" for "months."  Business closings only lasted from the end of March to the beginning of May

https://en.wikipedia.org/wiki/COVID-19_pandemic_in_New_Zealand

(Perhaps he meant restrictions on travel by 'lockdown'? But that is not the usual use of the word in these contexts)
"A force de chercher de bonnes raisons, on en trouve; on les dit; et après on y tient, non pas tant parce qu'elles sont bonnes que pour ne pas se démentir." Choderlos de Laclos "You struggle to come up with some valid reasons, then cling to them, not because they're good, but just to not back down."