Here Comes the Recession

#555
#555
Velo Vol said:
Is it more people being "scared"? Or so many events/places being canceled that people traveled to see?
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It's both. Every gathering of more than a few hundred has been cancelled, people afraid to be stuffed on a plane or cruise with someone sick. The travel industry will get paired down pretty quickly if this goes on until next year.
 
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#556
#556
VolStrom said:
It's both. Every gathering of more than a few hundred has been cancelled, people afraid to be stuffed on a plane or cruise with someone sick. The travel industry will get paired down pretty quickly if this goes on until next year.
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Honestly, I think the US has about 30-45 days to get its collective shtt together.
 
#557
#557
VolStrom said:
It's both. Every gathering of more than a few hundred has been cancelled, people afraid to be stuffed on a plane or cruise with someone sick. The travel industry will get paired down pretty quickly if this goes on until next year.
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At this rate they're toast if it lasts more than two months.
 
#558
#558
You can't start shutting down pieces of the world economy and not expect repercussions. I'd expect more companies to take measures similar to Delta in the coming days.

Hopefully we find a corner to turn quickly on the virus and economic function can resume before real long term damage is done if that's still possible.
 
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#559
#559
Velo Vol said:
At this rate they're toast if it lasts more than two months.
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I think the airlines and the major cruise lines have plenty of cash to see them through for another year. The one company that is likely to file bankruptcy first I think is going to be Boeing, and they deserve it for how they let their company devolve into profit first, quality and safety second. Not only did they kill a big percentage of their sales with the 737 Max debacle, now the demand side has dried up.
 
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#560
#560
In the short term, people sure are cleaning out grocers. This is worse than an approaching snowstorm.

 
#561
#561
Velo Vol said:
In the short term, people sure are cleaning out grocers. This is worse than an approaching snowstorm.

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Where is all this money coming from to buy these goods ? I was told by AOC that the working class people were broke . Those damn billionaires must be sending their people in and buying everything up .
 
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#572
#572
I'm not surprised. This stock market will likely be garbage until a turning point with the coronavirus is seen. As of now it's businesses shutting down, travel bans, professional sports have been cancelled, and there's no end in sight.
 
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