grrclark Posted March 20, 2020 Report Share Posted March 20, 2020 Having watched yet another unprecedented and exceptional round of measures by the government to try and shore up the economy, knowing that is taking place all across the world it strikes me that this virus crisis is going to re-write every economic text book and the effect of it will be felt for the next 50 years. Everyday another part of the story unfolds that i cannot think anyone could have predicted or considered as ever going to happen. I would far rather be reading about it in history books rather than living through it, but it is fascinating in the extreme. Quote Link to comment Share on other sites More sharing options...
Danger-Mouse Posted March 20, 2020 Report Share Posted March 20, 2020 May you live in interesting times. As the Chinese (oh the irony) like to say. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted March 20, 2020 Report Share Posted March 20, 2020 In the hospital they are throwing money at us like never before. Money won’t be an issue, staff shortages, logistics and lack of medicines is going to be an issue. I must say I think the Government are doing a good job in these trying times. I’m amazed at the speed some of this emergency legislation has been produced. The effects of this is going to go on for generations to come. The national debt is going to be enormous now, but I think they are trying to do anything they can just to keep our heads above water. I can’t even begin to imagine what’s happening in other not so well off countries. Quote Link to comment Share on other sites More sharing options...
Lord v Posted March 20, 2020 Report Share Posted March 20, 2020 The war chests are cracked open and we are laying bets on the recovery. If this keeps hundreds of thousands of people in jobs that should happen quicker than being out of work, relying of benefits and an uneven growth out the other side of this, this may just work. Quote Link to comment Share on other sites More sharing options...
grrclark Posted March 20, 2020 Author Report Share Posted March 20, 2020 It’s not so much a gamble as a necessity, the question is what it will look like when we come out the other side. The economy needed a correction, in many ways we didn’t go far enough in 2008 because we didn’t have to and it was primarily a problem in banking and monetary policy. This is a fiscal (cash) problem impacting on every aspect and the outcome of this has to be a massive correction. Quote Link to comment Share on other sites More sharing options...
Lord v Posted March 20, 2020 Report Share Posted March 20, 2020 Dont get me wrong, it's a necessary gamble, but still one that requires a decent recovery for it not to cripple the economy. Will be interesting to see what the markets make of it. Germany I think was thinking similar - covering 75% of workers wages but I don't think they pulled the trigger on that yet. Will be interesting to see if this will end up being the first steps to Universal income... Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted March 20, 2020 Report Share Posted March 20, 2020 (edited) hello, anyone know what financial help the Government will give to the self employed ? husband and wife i know run a cleaning business together, most private houses, all their clients have stopped the work. Edited March 20, 2020 by oldypigeonpopper Quote Link to comment Share on other sites More sharing options...
Danger-Mouse Posted March 20, 2020 Report Share Posted March 20, 2020 First blow for me. I had a job interview on Monday. It's been cancelled. They're not taking on new staff during the outbreak. Quote Link to comment Share on other sites More sharing options...
grrclark Posted March 20, 2020 Author Report Share Posted March 20, 2020 15 minutes ago, oldypigeonpopper said: hello, anyone know what financial help the Government will give to the self employed ? husband and wife i know run a cleaning business together, most private houses, all their clients have stopped the work. It really all depends on how they pay themselves in their business. I also expect by this time next week there will be further options available to them. Quote Link to comment Share on other sites More sharing options...
oldypigeonpopper Posted March 20, 2020 Report Share Posted March 20, 2020 1 hour ago, grrclark said: It really all depends on how they pay themselves in their business. I also expect by this time next week there will be further options available to them. hello, thanks to reply, i will find out, so far i can only see tax breaks and some DWP benifits Quote Link to comment Share on other sites More sharing options...
margun Posted March 20, 2020 Report Share Posted March 20, 2020 The world governments have likely already agreed to pay for this through very long term bonds, printing money off the back of those bonds. It's all funny money anyway, gives a fine excuse to crank up interest rates in the long term. Every country is screwed financially over this one, it'll be seen as a historic reset of the financial system. 2008 was a puppy dog by the numbers going into this. Quote Link to comment Share on other sites More sharing options...
zipdog Posted March 21, 2020 Report Share Posted March 21, 2020 (edited) Strange this thread should arise, I for one thinking this event will redefine the global economy for generations. I decided tonight to buy some physical gold as a hedge.Everywhere is completely sold out!! Says a great deal. Get ready and get those Gold bars and Bitcoins loaded. Edited March 21, 2020 by zipdog Quote Link to comment Share on other sites More sharing options...
henry d Posted March 21, 2020 Report Share Posted March 21, 2020 12 hours ago, Mr_Nobody said: May you live in interesting times. As the Chinese (oh the irony) like to say. Chamberlain apparently Quote Link to comment Share on other sites More sharing options...
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