The whole world’s economy has collapsed. It is suicide.
And to be clear, it’s too late to stop it. If it turned around right this minute, after it plays out it would be much worse than the credit crisis of 2008.
We’re not feeling it right this minute. We will. And it will be very bad.
I’m still working, but from home. I work for the power company as a contractor, but on IT projects. Most of those projects are not critical to the business. They are just incremental improvements to various processes. How I don’t see my contract ending in the next few weeks is beyond me. However, no hints from management yet that that will happen. I think it will.
Fortunately, I recently started collecting SS and was musing about quitting anyway. So I have that, which is nice. :)
And if my SS stops, we’ll be in a situation where that is the least of our problems.
I feel like we are the guys in the movie, still working at the TV station, giving people updates, as the massive meteor closes in on its last hours before it hits.
Not true. This time there's no trillions in toxic securities to unwind. In 2008 there was that fake value on paper that disappeared. This time we have the real underlying economy with real value.
For example, why would people stop buying the latest iPhone? Before this crisis they would have. After this crisis, they will.