Recession

[Benton]

(07-31-2020, 03:47 AM)Goalpost Wrote: Amazon, Apple, Google and Facebook reported yesterday something like 30 billion in profits last quarter.  Extraordinary.  The housing market is strong with low rates.  PayPal has surged as has Zoom technology.  Walmart, Target, Best Buy, Home Depot, Loews, etc are flourishing.  Companies like Kellogg's are benefiting from stay at home eating. It's all the entertainment, restaurant, airline, mom and pop stores and bars, casinos, theme parks, etc that are suffering badly.  Virus has been catastrophic to these.  Banks are somewhat steady which is a good thing.  Fed has regulated the banks balance sheets and there percentage of reserves allocated for potential foreclosures or missed loans.  Oil seems to have corrected back to a reasonable level. Let's face it.  Until the health industry finds us a vaccine, significant areas of the economy will just not recover.

Excellent points. This has actually been a good thing for some businesses (mostly big business). My worry is the small businesses. They're taking a beating.