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Hortensis

(58,785 posts)
9. Uhuh. Hard to believe statistics about the very wealthy are going
Tue May 26, 2020, 03:27 PM
May 2020

to have the same reassuring effect. After all, many millions of people are lying awake at night realizing their health insurance only pays 70%, that their jobs might be gone next week, month or year, once unthinkable possibilities of major forced changes to their lives, and even destitution, keeping them from sleeping.

This virus is not going away, we're face a possible second spike in the first wave; and with the way our nation is acting the fall-winter/second wave is going to be very bad. The big question seems to be how many realize it before election day. Also, in spite of rage in the culture warriors, seems to me anger among most has been kept banked as they focus on dealing coolly with crisis.

A lot of companies have been shoring up dividends to shareholders, and it's possible they'll try to continue through the election, but not guaranteed. A lot of older voters get at least some income from those, and the prospect of losing even part has to be causing significant anxiety.

Home equity -- the big safety net of so many millions. Prices have mostly held so far because both sellers and buyers are holding back, but that will only continue for so long. The inventory of homes needing to be sold is growing, but the supply of buyers won't keep pace, and neither will prices. Commercial investors are jingling their gold in anticipation of great bargains in those markets.

Etc. on so many of our household concerns. Of course there're others -- like the huge coronavirus-national debt bomb that could go off under whole nations. The whole planet. Deflation? Stagflation?

Recommendations

0 members have recommended this reply (displayed in chronological order):

The Scare Tactic Meme Of The Day? Me. May 2020 #1
Could be, but Andy823 May 2020 #4
Personally, Newest Reality May 2020 #8
I didn't interpret this as a "scare post" at all. Mike 03 May 2020 #10
The only thing that's predictable now is that the rest of 2020 is unpredictable. Girard442 May 2020 #2
No way we dig out of this economic hole THIS YEAR budkin May 2020 #3
No it's going to take at least 5 years at a minimum. Initech May 2020 #12
It is going to take five years and a Democratic President at a minimum. SkatmanRoth May 2020 #14
That's Ridiculous ProfessorGAC May 2020 #5
I agree with it they aren't saying there is going to doc03 May 2020 #15
Easy To Rebut ProfessorGAC May 2020 #22
What you say may be true but if there is a big jump doc03 May 2020 #24
Not As Hard As You Suggest ProfessorGAC May 2020 #30
I don't think the natural disaster recovery model is appropriate for our current situation, mainly alwaysinasnit May 2020 #6
Plus we're still in the first wave of the virus as red states experience poli-junkie May 2020 #7
Uhuh. Hard to believe statistics about the very wealthy are going Hortensis May 2020 #9
I've Read That The Next Big Bubble To Pop Me. May 2020 #13
Bubble from outrageously low mortgage rates leading to outrageously Hortensis May 2020 #18
Here, Builders Like The Monster In THe WH Me. May 2020 #28
trump, repubs, GOP need to clear away the dead bodies first Miigwech May 2020 #11
Yep. lastlib May 2020 #16
Sure...unemployment is over 20% Demsrule86 May 2020 #17
... greenjar_01 May 2020 #19
I find this rather unbelievable. As an economic major (and minor too), I don't see anything like... SWBTATTReg May 2020 #20
With so many reports of the virus getting worse, any claim otherwise, empedocles May 2020 #21
Ridiculous kcr May 2020 #23
I don't think anyone but kool-aid addicts would accept the projected rebound as a win pecosbob May 2020 #25
The 1918-1920 flu pandemic was 3 years and about 33 percent of world's population was infected. roamer65 May 2020 #26
Basically, the guy in the article is saying, "we won't be as bad off in the fall as we are now." Yavin4 May 2020 #27
Doubtful the economy will turn around that quickly Yo_Mama_Been_Loggin May 2020 #29
It is simple Chainfire May 2020 #31
I think this going to be a slow bumpy recovery. honest.abe May 2020 #32
The numbers could be great, but if the job numbers go up 50% in the positive direction Vinca May 2020 #33
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