2020 Recession - Global Lay off started now - first airlines

Economy & Finance
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That’s insane considering the trust only pays if the company goes out of business.

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This will require paradigm shift. Over the years, govt has become insurer of all kind of risk. People need to be manager of their own risk, or not do an activity whose risk they cannot handle. This applies to business that carry lot or risk to their revenues as well as a mom-and-pop business…

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Depression.

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Depression.

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Need to bailout the billionaires.

Private jet industry — the transportation of choice for the wealthy — asks for bailout funding

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I wonder if some companies will hire quickly to run 3 shifts of production.

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  • Walmart announced it will hire about 150,000 temporary workers by the end of May. The roles, according to the largest private employer in the U.S., will be temporary at first, but may “convert to permanent roles over time” and are in their stores, clubs, distribution centers and fulfillment centers.

  • Dollar Tree, which also owns Family Dollar, plans to hire 25,000 full- and part-time workers for its 15,000 U.S. stores and 24 distribution centers.

  • 7-Eleven expects to bring on 20,000 new store employees to “meet increased demand for 7-Eleven products and services amid the COVID-19 pandemic.”

  • Amazon intends to hire 100,000 workers.

  • Domino’s is hiring more than 10,000 workers to meet demand.

  • Even childcare may offer job opportunities as schools stay closed, says Fast Company’s Arianne Cohen.

  • The medical community is looking for as many health care providers as possible. New York City has even asked private and retired providers to help in hospitals. More than 1,000 answered the call.

  • Grocery chains (including Kroger, which has already hired 2,000 people) are looking for workers, as are shipping businesses, online learning and remote work firms.

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Obviously many jobs above are temporary and lower paying… but it’s something.

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Many of the jobs lost are hourly and lower pay, so those jobs would be valid replacements for a lot of people.

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Good perspective from Minneapolis Fed chair. Lessons from TARP:

1: Go big. Better to err on the side of too much than too little.

2: Don’t worry about targeting. Just hand money out. If you spend too much time on who’s worthy and who’s not, you’d be too slow. This is firefighting. Speed is key.

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Get out the big bazooka

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China is starting to emerge from their lockdown.

Continues here

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This one is going to be bad
My aunt in jk has friends here 3 of 3 has no income now. Previous recession usually 1 lose the job and able to find other work. Not like whole world stops

And 30 minutes ago at sprouts, a lot of ppl wearing mask . And my wife standing in line. Saw 2 of the family jammed two line because their credit cards are all maxed out

Come on Americans. Save for 6 months at least
They really need the gov 1k kow

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