Are We Heading For A Recession Like In The 30s?

[Mister Gee]

41 minutes ago, CaptainSwing said:

Only one thing is for certain, and that is that the Free Market (peace be upon it) will not be able to provide a solution.  Even the Financial Times has admitted that.

Speaking of which.

https://www.theguardian.com/business/2020/apr/05/rees-mogg-firm-accused-of-cashing-in-on-coronavirus-crisis

[*_ash_*]

9 hours ago, tinfoilhat said:

Entire industries could hit the buffers. I'm guessing when it's all finished half the airlines won't be there anymore. I can cling on for a few months - but then I need work to come in, paying work. Will it? 

Yes.

 

I can't imagine many people after having limited or no income for months, will fancy hopping on a plane full of people, to go to Spain and Italy - for example.

 

And major airlines, just like humble taxi drivers like me, ALL work on a very fine balance between profit and loss. The airline industry will take years to build back to normal, if ever again. Same as me. (until perhaps even vaccine, but can't see how this will work. Wrist straps like Contagion film? Tattoos?)

 

We might end up with government owned airlines, like trains probably he same.

 

It might be good for UK tourism though in later months. Britain has thousands/millions of beautiful places that will become popular / [or again], hopefully.

 

And with the recession hitting, probably a good time for new socialist Labour to get in power (though that's just a prediction, and not a political dig)

 

8 hours ago, El Cid said:

Its a ballance, we dont live in a dictatorship. Will a lockdown do more harm than good after 2/3/4 months, it will stop at some point and there will still be deaths. I will repeat again, this lockdown is not to stop COVID19, but its just to slow it down.

It's obviously a slowdown, I've never spoken to any intelligent person who thinks that 'right, boris said 3 months, so in 3 months things back to normal'

 

This isn't going to just go away. The only reason politicians or news don't say this, is because this is a national crisis, and we can't have rioting. It needs calm messages.

 

 

Edited April 5, 2020 by *_ash_*

[onewheeldave]

22 hours ago, *_ash_* said:

... The airline industry will take years to build back to normal, if ever again. .....

Hopefully it will never get back to anywhere near 'normal'. If there is one positive thing about coronavirus it will be the realisation that the skies can be cleared of airplanes, it never was impossible or impractical.

Coronavirus pales into insignificance when compared to climate disaster, and pretty much the best thing to do to try and avert climate disaster is to keep all those airplanes out of the air.

As for coronavirus and any future pandemics, the reason they spread so well is due to people using airlines to get to the other side of the world in a matter of hours, so not getting back to 'normal' with air travel is not only a great strategy for avoiding climate disaster, it is also probably the single best way of minimising future pandemics.

 

Edited April 6, 2020 by onewheeldave

[*_ash_*]

15 hours ago, onewheeldave said:

Hopefully it will never get back to anywhere near 'normal'. If there is one positive thing about coronavirus it will be the realisation that the skies can be cleared of airplanes, it never was impossible or impractical.

Coronavirus pales into insignificance when compared to climate disaster, and pretty much the best thing to do to try and avert climate disaster is to keep all those airplanes out of the air.

As for coronavirus and any future pandemics, the reason they spread so well is due to people using airlines to get to the other side of the world in a matter of hours, so not getting back to 'normal' with air travel is not only a great strategy for avoiding climate disaster, it is also probably the single best way of minimising future pandemics.

 

Yes good for climate, and I agree to that. I was thinking more about the financial impact i.e. millions of jobs in the holiday and travel world.

 

Long before this, I've written that domestic holidays would be great for our own country, and we (country) should be spending money doing up seaside places.

 

 

[andyofborg]

On 05/04/2020 at 21:25, Mister Gee said:

Speaking of which.

https://www.theguardian.com/business/2020/apr/05/rees-mogg-firm-accused-of-cashing-in-on-coronavirus-crisis

from what i recall of the article, they have being giving advice to their clients along the lines of "stocks are cheap so now is a good time to buy", i imagine all similar firms are giving the same advice.

[ECCOnoob]

42 minutes ago, andyofborg said:

from what i recall of the article, they have being giving advice to their clients along the lines of "stocks are cheap so now is a good time to buy", i imagine all similar firms are giving the same advice.

Quite right. Very sensible advice given how stocks and shares normally work.  

 

I am very sure there will be lots of people, when the time comes, who will be "disgracefully" and "shamelessly" taking advantage of the low price property market that will be readily available to them or the massively discounted holidays and flights that will be on sale as the airlines and travel companies desperately try to build up their business again or the the bargain basement prices in the retail sector as the High Street chains and department stores desperately try to entice us back through the doors....

 

To me it smacks of a typical guardian "outrage" piece.   

 

I have all too often wondered what it would be like to live in the fantasy land that is planet Guardian.  

Edited April 7, 2020 by ECCOnoob

[Baron99]

37 minutes ago, ECCOnoob said:

Quite right. Very sensible advice given how stocks and shares normally work.  

 

I am very sure there will be lots of people, when the time comes, who will be "disgracefully" and "shamelessly" taking advantage of the low price property market that will be readily available to them or the massively discounted holidays and flights that will be on sale as the airlines and travel companies desperately try to build up their business again or the the bargain basement prices in the retail sector as the High Street chains and department stores desperately try to entice us back through the doors....

 

To me it smacks of a typical guardian "outrage" piece.   

 

I have all too often wondered what it would be like to live in the fantasy land that is planet Guardian.  

Regarding stocks & shares. 

 

Wonder if anyone has actually explained to the Guardian journos, where their pension funds are invested? 

[Lex Luthor]

5 minutes ago, Baron99 said:

Regarding stocks & shares. 

 

Wonder if anyone has actually explained to the Guardian journos, where their pension funds are invested? 

Socially responsible and ethical pension plans do exist 

[El Cid]

Even before coronavirus started - the UK economy grew 0.1 per cent in the three months to February before the coronavirus lockdown hit businesses.

The Office for National Statistics (ONS) data showed the increase was entirely down to the services sector.

The tiny rise, which is measured on a three-month rolling basis, was a slight improvement on the three months to January, when there was no growth.

In February GDP contracted 0.1 per cent, a lacklustre start to the year after the optimism that followed Boris Johnson’s resounding victory at the polls in December.

Thee coronavirus outbreak was already beginning to impact certain sectors of the economy at this stage, the ONS data showed. Travel agencies and manufacturers of transport equipment were the earliest firms to suffer.

 

https://www.cityam.com/uk-economy-grew-just-0-1-per-cent-in-three-months-before-coronavirus-lockdown/

[desy]

What do you think I come tax will go up to after the virus has done it's worst.

 

I guess 25%

Business tax also to go up? 

Vat 25%?

 

 

 

 

 

 

Edited April 9, 2020 by desy