Quote:
Originally Posted by quasi
Economic damage is my biggest concern for sure, all the people that are going to be unemployed is unprecedented in our lifetime, hopefully most of that is only temporary but a lot of mom and pop business and businesses that were already teetering are going to go tits up for sure.
I'm still not sure how this is going to affect my work fully, my owner is pretty good to his workers and fairly well off I wouldn't be surprised that even if he shut down temporarily he continued to pay his management staff. That said I'm prepared for the worst, I'll continue to work at home and if things escalate I'm prepared after being laid off in 2010 I've made sure I always have a good chunk of money in the bank just in case.
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Unemployment is one thing, but if our currency sinks, which it has been, since it's tied closely to the price of oil, and I mean really sinks, it won't matter who has a job.
Governments/banks are trying to maintain currency value through measures like mass quantitative easing, (US)federal reserve Bank lending (repo), interest rates etc..
I think coming out the other end of this, those involved in trades will be best situated. Governments tend to spend on infrastructure to stimulate after recessions/depressions.
Those in retail, will almost definitely not fair well though.
Just my humble opinion, of course.