Is 12000 higher than last week. The job creation numbers are staggering the past few months so at the worst it’s a wash.
I understand you are afraid. Many are with good reason. But let’s not jump out windows yet
Oh, I’m not afraid. I’m pragmatic. I moved from Seattle to a 32 acre hobby farm in south central KY nine years ago. I’ve got food, two streams, eggs, wildlife, and they just finished my 30x60 shop and 25 acres of woods to fuel the heater. We’re covered even if the grid collapses. But this stuff can’t be ignored.
Our response is not just a “flesh wound”. These things take time to fully unwind, but fully unwind it will - probably making 2021 a LOT more interesting than this year has been.
I said in mid April that if the lockdown went past May 1st, we’d see rioting in May. The rioters came through at the very last weekend of the month. And look where we are now.
One thing I learned during the last financial meltdown about human nature is that we are incredibly adaptable. I warned that Seattle house prices could drop 20% and that sounded like crazy talk - even to me. I was mocked for it. Yet they went down far more than that.
And what was the response? “It’s a great buying opportunity!” People just ignored that people were losing their homes in droves and walking away from others. It was just the new normal.
And here we are now, wearing masks, accepting violence in our cities, watching millions get laid off and cities and states seeing their “plumb” economies becoming prunes. This doesn’t happen in a vacuum and it will affect people.
But it will just become the new normal, just like life in 1932 became the new normal.
I am in the airline business...
The layoffs in October are going to be brutal, no way around it now. We are back to 1965 traffic levels, and that is a great improvement over where it was.