Number 10 GI |
04-16-2020 02:36 PM |
We have to get the economy rolling again, the economy will only stand so much of this before it collapses. I would say most of the people living here do so from social security and investments. We got our statements for our IRA's the other day and WOW, we took a pretty good hit. There is no way you can live here just on SS so if your investments shrink what are you going to do? I do have a couple small pensions but if the economy gets bad enough even those might be reduced. With the whole world in the same boat as us we could possibly slide into a world wide depression if the situation is allowed to become worse. There are going to be a lot of small businesses that will fold and all those employees will be on unemployment. Most people work for small and medium businesses, not large corporations. With the potential of millions of people on unemployment and welfare where is the money going to come to pay for those social programs? Less spending equals less revenue, less revenue and there isn't enough money to pay for the aid.
I keep hearing as soon as we test everyone and find out who is infected then we can start opening the country up and go to work. This thought is a fallacy! There is close to 350 million people in the US, do you realize how long it will take to manufacture the tests, administer them and then get labs to provide the results? I have no idea because we don't have the infrastructure for something of this magnitude. OK so we test people and identify the sick ones and the uninfected ones. Two days later the uninfected ones pick up the virus and now what? Run a test on 350 million people every day to make sure we find all the infected people?
Let the younger people who aren't affected as much as us old folks get back to work and we stay at home until this blows over.
When the government runs out of money they will start to print more which will cause unbelievable inflation. The price for your $2.00 loaf of bread will rise due to the inflation and the value of the money will fall. Your investments/savings value won't increase and will be quickly depleted.
It's real easy to be retired drawing pensions and living off investments and demand that businesses stay closed whereas the working people who have mortgages, car payments, credit card bills and daily living expenses don't have that luxury. Watch some of the documentaries on the Great Depression with the soup lines and people living in tents. Are you comfortable with that, especially if you are standing in that soup line?
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