03-12-2020, 12:09 PM
(03-12-2020, 11:14 AM)Belsnickel Wrote: Yeah, there are a lot of indirect impacts economically that are going to happen. For instance, local businesses in all these college towns where schools are telling students not to come back are going to take a big hit. Parents with children in K-12 schools will have to be concerned about child care when they otherwise wouldn't have to and if they are free/reduced lunch, now they have to pay extra to feed their children. Employees in food service and the hospitality industry will likely go without much pay because they rely heavily on tips and without them will see their income drastically reduced (or cut off entirely if there is not enough business to have them on the shifts).
I don't care much about the stock market because that is really just rich people getting richer and it isn't directly correlated to the economy. However, this will cause our GDP to shrink.
My wife and I went out to dinner last night...place was packed.
401K took a hit. I have time to build it back up, others do not.
It's hard to understand big things like this in real time but I'm hoping it's not as bad as it seems to be heading both for people's lives and livelyhoods.
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