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#1
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I don’t think people fully realize how integrated commerce is. We are going to hit depression era employment levels. GDP levels we haven’t seen in 20 years. RE market is going to get crushed and I bet a significant portion of the hobby is debt financed. The best and most desirable cards will be fine but they represent a very small portion of the overall hobby. My guess is overall transaction volume has dropped substantially and will continue to drop. April is when millions of Americans won’t be receiving any income, for now most folks layed off are getting their two weeks. |
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#3
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I sure hope you are right but 2mm people will make UI claims this week. Last week in Canada we had 500k claims - 20x increase yoy. And most employers have ‘t even made a move yet. Early April is going to be ugly.
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#4
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![]() Unfortunately, the Secretary of the Treasury told the Senate that is exactly what to expect, they are just trying to hide this info (too). https://www.cnbc.com/2020/03/18/mnuc...urce-says.html After the information leaked, the Treasury later walked it back to "not a projection" status. Meanwhile, on Main Street, several of my clients contacted me last week with questions about how to lay off their entire staffs.
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 03-22-2020 at 01:31 PM. |
#5
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Read an article from MIT, it said the hardest hit population from this newest recession will be the low end wage worker that can easily be replaced. It wondered aloud about how universal incomes are laughed at now, but might become a more serious debate going forward. While I too doubt a great depression era unemployment percentage, if the USA really wanted a stimulus package, it would invest 3 trillion into highways, bridges, and modernizing dams. Lots of bodies with shovels, cdl, and biceps needed. College degree not required. Sent from my SAMSUNG-SM-G930A using Tapatalk
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#6
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This just reported:
Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... |
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