St Louis Fed Estimating 47 Million People Laid Off By End Of Second Quarter

St Louis Fed ^ | 03/24/20 | Miguel Faria-e-Castro,

[Mase]

But Dr. Fauci and Dr. Birx will continue being employed, and paid well, while accruing bennies most in the private sector can only dream about. They will be joined by a large percentage of public sector employees who see the coming economic Armageddon as an opportunity to defeat Trump and install a new kind of economic system that delivers equality. And many FReepers will be here cheering them on.

[PLMerite]

I read the headline and was in the third paragraph before I realized it wasn’t talking about the City of St. Louis handing out meals.

[cp124]

Unfortunately many of us small businesses will not survive. I think that will make the left happy. Small business is part of the freedom they dispise. It’s easier to quid pro quo big corporations.

[caww]

If a small business had a contingency plan they'll likely be ok and recover. If not their option is what the government is attempting to subsidize, if that's not helpful they were likely operating on a shoestring to begin with...... Risk of the unknown or unseen is always present when one opens a business regardless of it's size. Unfortunately just as in life for those who live pay check to pay check they're going to feel the pinch first and hardest...so too with small businesses who operate as such.

[Levy78]

you’re entirely incorrect. No urban centers in Texas are opening any time soon. I live in one here, I know. I have a very direct line to public health officials here, believe some guy on the internet or not, IDGAF.

Professionally I work in the private capital markets and nothing will have blown over by July. If everything reopened TMRW it would take at least a year for the capital markets to unravel what happened in March. You have no clue what just happened to these large institutions that provide equity capital to our nation’s businesses.

I agree we eventually will bounce back after this... but if you think it’s business as usual by July then you’re in for a very, very rude awakening. The DJIA isn’t the economy.

[Basket_of_Deplorables]

We need a new law. When unemployment rises a certain amount, a defined % of government workers get gone, too. Without pay.

[Ronniesque]

Good post.