Well this is interesting:Azebedo, secretary-general of the World Trade Org. says about the economy

Azebedo, secretary-general of the World Trade Organization, posted a message on the Internet on Wednesday that the effects of the new coronavirus could worsen the economy and cause job losses from the 2008 financial crisis.

Wow! What you guys in fiance think about that ?

And: The global pandemic of the new coronavirus will have a devastating impact on economy and trade, and the economic downturn and employment loss could be worse than the Lehman Shock," said Azebedo, secretary general .

I personally already feel the impact. No income coming in and nope, I don't qualify for any benefits other than the pension here of about 300 USD every 2 months. But one good thing is, I'm not basically in debt to anyone either.

I really feel for the people in the large cities because of the chain reaction of being unemployed .

a reply to: musicismagic

The economy is coming back in full force. I give it another month then it gets serious traction. There will still be a constant threat of the virus but it will be manageable. They are removing a lot of restriction on clinical trials. One is going to hit pay dirt soon. What use to take a year is now going to take 4-6 months. China is going to step up to the plate with their slave labor and start churning out goods to redeem themselves.

originally posted by: Stupidsecrets
a reply to: musicismagic

The economy is coming back in full force. I give it another month then it gets serious traction. There will still be a constant threat of the virus but it will be manageable. They are removing a lot of restriction on clinical trials. One is going to hit pay dirt soon. What use to take a year is now going to take 4-6 months. China is going to step up to the plate with their slave labor and start churning out goods to redeem themselves.

Serious, is that a stupid secret or is it for real, because in this country, day by day, its going down hill little by little in areas across the country. Companies are begging for help, but... shortage of workers now.

I refuse to post much about this.

but, one more development and.....

originally posted by: GBP/JPY
I refuse to post much about this.

but, one more development and.....

but your post are always spot on when it comes to the business climate, at least I feel so

a reply to: musicismagic

Yep people the world over who do not have an Uncle Sugar to step in and save their lives are in a world of hurt... I personally think in many places it is going to get worse and very dark before we see a light at the end of this tunnel.

a reply to: musicismagic

If your getting a pension, and that's all it is, why not file for social security. It's right there in the name.

originally posted by: 727Sky
a reply to: musicismagic

Yep people the world over who do not have an Uncle Sugar to step in and save their lives are in a world of hurt... I personally think in many places it is going to get worse and very dark before we see a light at the end of this tunnel.

you know sky, in this country you work till you drop unless you are rich
pensions are very low for the self employed
but if you work for companies like toyota, your pension at the age of 65 I think, is about 2500 USD a month
with the down turn of investment profits , I wonder how long that is going to take to go downhill

originally posted by: bender151
a reply to: musicismagic

If your getting a pension, and that's all it is, why not file for social security. It's right there in the name.

I should have stated SS also, but its small and it all goes for monthly bills. So essentially, that is my income. Wife's income is the same and her SS also pays the large bills and she gets Japanese pension about 100 USD every 2 months more then me. So basically we have 350 dollars a month to actually spend, some of that goes for medical bills. We really are living off our savings to make ends meet monthly. But I think most retired people are in the same boat as us.

What , you want everyone to board the fear train to Panicsville ?
Ain't gonna happen.

originally posted by: Stupidsecrets
a reply to: musicismagic

The economy is coming back in full force. I give it another month then it gets serious traction. There will still be a constant threat of the virus but it will be manageable. They are removing a lot of restriction on clinical trials. One is going to hit pay dirt soon. What use to take a year is now going to take 4-6 months. China is going to step up to the plate with their slave labor and start churning out goods to redeem themselves.

It will come back, but your time scale is off. At the current rate of spread, the epidemic will peak in about one month and about 60% of the population will have been infected. If we get our act together and cut the rate of spread in half, it will peak about a month after that and infect only about 20% of the population. The first wave will probably be over by about August 1. The economic recovery can begin about then. In an ideal world, the economic recovery would take about the same amount of time, so about an additional 5 months later; that would be about the end of the calendar year by the timel we’re back to semi-normal. I think we probably will have some cures (like Remdesivir, etc. and probably a vaccine) by about that time. That will be good because that would be just about in time to prevent the second wave of infections coming back from the Southern Hemisphere.

a reply to: musicismagic

Yeah being trapped in a big city would be intense. People shouldn't have panicked. The MSM is dangerous.