100k in NY alone due to the fake fumanchuflu.
Business closings over/under.
- Thread starter derklug
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the market already bottomed. 18,000 dow jones. It was like 40%.
This is still an ongoing pandemic. That was a 3 year low, not a bottom. Until this pandemic is over and we know the full effects on businesses, you dont know what the bottom is.
As of right now, small businesses are taking a MASSIVE hit. Small businesses still account for most of the business in this country. They are not publicly traded fortune 500 companies like those on the DOW, so it's a bit of a skewed judgement. You cant make an assessment on the entire economy based off of just how the DOW is performing.
Many of those same companies listed on the DOW are also getting massive loans from the government for assistance to keep them in good standing due to the amount of people they employ. A lot of small businesses are not. Again, skewed judgment.
It’s not just overpriced commercial properties, but the technologies/tools/software/machines/social media networking that’s now required to provide the same service.
My buddy worked so hard to get a sophisticated alignment machine that bit the dust in a year.
The DOW probably went up because the top companies grabbed a huge market share of what was owned by small businesses.
This is also 100% true. Walmart has seen like a 33% increase in revenue from the same time period last year. They were considered essential and allowed to stay open. Small business, nope.
The stock market is no longer an indicator of the health of the overall economy.
It's like saying that a person's health must be fine since his bank account is full, even when it is visually obvious he is dying of cancer.
These days, stock market performance and actual society financial health are mutually exclusive.
The number of mortgage and auto loan deliquencies is sky rocketing. The number of people freaked out and scared by the MSM is huge, so they will not be returning to "normal" spending/travel/consumption/construction habits anytime soon.
And then there's people like me, who have stopped spending on all non-essentials, saving everything I can for when/if I get let go. In my case, I see this savings behavior continuing for the next 18 months.
Squeezed out with help from the svtperformance.com mobile app
Related Chairman Stephen Ross: Expect a 'flood' of retail bankruptcies because of the pandemic
Curious to see what they do with shopping malls. I know around here pre pandemic it was cheaper to knock down the former Sears section of the mall than keep it as an empty shell.
Curious to see what they do with shopping malls. I know around here pre pandemic it was cheaper to knock down the former Sears section of the mall than keep it as an empty shell.
We were talking at work and think that every business that goes under due to lockdown should paint their front window red when they close up. It would be a grim reminder to people every day about what fear has done.
A commercial real estate collapse is coming. Hotels and mall owners are starting to default. The owner of Mall of America and American Dream mall missed their last loan payment. Hilton and Marriott are close to defaulting on several properties in NYC and Chicago. Their stock price is still close to its high though.
I am seeing small businesses close all over the place around me.
I think problems with residential mortgages will hit in 6-12 months once the forbearance programs end.
I am seeing small businesses close all over the place around me.
I think problems with residential mortgages will hit in 6-12 months once the forbearance programs end.
My wife’s company in NJ has started testing warehouse employees every two weeks and about 5% have tested positive. There have been a couple of employees hospitalized and about a dozen deaths reported with family members of employees. Covid has definitely hit this area of the country harder than the rest.
this infuriates me the most
These businesses did not, I repeat, did not close because of the chinese virus. Businesses closed because a certain party panicked and put politics ahead of common sense. Businesses could have and should have been open while the virus was here. Trying to destroy the economy was the goal and I hope people remember who caused this mess.
Those goddamned communist Demonicrats. That's who. In b4 move to poli/SD
Remember they used to be hated because employees had to go on welfare too?
Now it’s essential to sell China goods through minimum wage workers.
F***. Foreigns are going to come in and buy these out?
Those goddamned communist Demonicrats. That's who. In b4 move to poli/SD
Seems like a good foreshadowing and reasoning to the people for their “green new deal.”
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