Wuhan Virus

[FreelancePoliceman]

So, many people I know (most, perhaps, discounting retirees) have lost their jobs because of the virus. A few more have taken pay cuts. It's not as if I'm qualified to predict major economic events, but I don't see how we aren't going to see a depression. Most people only have, at best, a few months' worth of expenses saved. It's not really possible to get a job with these conditions, and states' unemployment systems are seeing record spikes in applicants (will states even be able to pay unemployment to such great numbers of people?). Money will vanish quickly, mostly into the hands of landlords and banks. If the virus runs its course in a few months, then at the end of it, who will have the money to buy goods as before?

If there's something I'm not considering, I'd love for someone to tell me. But it seems to me now that there will be a depression.

Incidentally. American insurance companies don't have the cash to cover every one of their customers who will be infected. They're going to demand bailouts, if they haven't already behind closed doors. Imagine the outcry. The one good outcome of this situation might be enough public pressure that universal healthcare finally gets implemented.

[Aramas]

So, many people I know (most, perhaps, discounting retirees) have lost their jobs because of the virus. A few more have taken pay cuts. It's not as if I'm qualified to predict major economic events, but I don't see how we aren't going to see a depression. Most people only have, at best, a few months' worth of expenses saved. It's not really possible to get a job with these conditions, and states' unemployment systems are seeing record spikes in applicants (will states even be able to pay unemployment to such great numbers of people?). Money will vanish quickly, mostly into the hands of landlords and banks. If the virus runs its course in a few months, then at the end of it, who will have the money to buy goods as before?

If there's something I'm not considering, I'd love for someone to tell me. But it seems to me now that there will be a depression.

Incidentally. American insurance companies don't have the cash to cover every one of their customers who will be infected. They're going to demand bailouts, if they haven't already behind closed doors. Imagine the outcry. The one good outcome of this situation might be enough public pressure that universal healthcare finally gets implemented.

There will be a depression. We won't have a vaccine for 18 months unless something fortuitous happens. Lockdowns will continue for longer than we expect.