Prepare yourselves for the economic fallout from this disaster

[Yavin4]

The future economic fallout may be worse for most of than the virus itself. Companies looking to get their stock prices back up will go on a cost cutting crusade.

Look for:

1. An accelerated pace of adoption of machine learning and AI tools to replace human workers.
2. More outsourcing both inside and outside of the U.S.
3. More cuts to benefits. We may see the end to employer provided health insurance which is ironic given the recent debate in the Democratic primaries.
4. An accelerated pace of more people forced into early retirement.
5. More mega mergers and acquisitions. Think merger between Apple and Disney.

What you can do:

1. Limit your expenses as much as possible.
2. Be prepared to move to a lower cost of living city, if possible.
3. Be willing to take cuts in pay so long as you can aquire new skills.
4. Look for additional sources of income. Think Gig economy.
5. Volunteer in order to keep your skills sharp and make new connections.


I know that this is harsh, but it's better to be prepared than not. The last two Republican presidents have each brought us these kinds of economic collapses. Unfortunately, they keep getting "elected" so we all must prepare.

[Hoyt]

1. The good thing is that we may end up with better safety net and at least a Public Option transition

to something like MFA.

[Yavin4]

3. I was thinking that the govt should encourage early retirement

by lowering the age to receive Social Security to 60 or 59 at least temporarily. Doing this may avoid massive layoffs.

[Hoyt]

4. That's not a bad idea.

[PufPuf23]

10. Lowering social security and Medcare age is a good idea under the circumstance

of the virus. May even be a good long term idea as society moves into an era where the economy is such that full employment is both impossible and not required.

[magicarpet]

2. Maybe the writing on the wall will become more clear.....

Vote Blue, Fascist Repugs could care less about you or your family.

[Roland99]

5. Glad I work for one of the largest companies in the US

benefits are excellent and will likely stay that way

but, to me, this PROOF POSITIVE that benefits should NOT be linked to one's employer but be available to ALL people

[Yavin4]

6. "benefits are excellent and will likely stay that way" -- Why do you think that?

Every publicly traded corp will be under the gun to cut costs.

[Roland99]

8. i believe we'd see a drop in employment before any benefit cuts. premiums may go up, tho

but it's a company (Disney) that stands to recover quickly once parks re-open...and the streaming service is probably getting even more customers now due to this.

[Yavin4]

9. Hmmmm. I dunno. I see Disney as being particularly vulnerable

Attendance to theme parks, cruise lines, movie theaters, etc. may take a while to recover. Not to mention the serious hit that ABC/ESPN took with no NBA games or playoffs and no sports to cover for over a month.

[Roland99]

11. and delayed movie releases. but, hey, we have all that "pent up demand", right?

[global1]

7. I Suspect We're Going To Need Another Stimulus Package Passed In Congress When We Beat This Virus...

Again - it should be directed to the American People and not the Corporations.

I believe there will be a pent-up demand for just about everything as we the people come out of self-isolation. People will be looking forward to eat at restaurants. Go to the movies. Hit a bar. Take a trip. Go to a ball game. Hit the casinos. All the events that have been postponed or cancelled will be rescheduled.

But we must keep in mind for that to happen - the People will need money to partake. That's why I believe that another stimulus directed to the People when this is behind us will provide them the ability to do all those things that we craved while in self-isolation.

As they go out and begin to live again the money that a new stimulus will provide them will be spent and passed on to bring the companies back to life and I believe the engine will churn again.

Right now, however, we can't jump the gun and stop doing all those things - like self distancing and self-isolation - that help us get through this crisis.

You can control your own environment. I use a baseball term: Safe At Home!!!!!

[Bettie]

12. The best stimulus

would be for companies to employ people and get them back to work.

Consumers drive economic activity.