How worried are you about losing your job right now?

OMM 0000 · 13-03-2020 12:06pm #1

As the title says, how worried are you about losing your job right now?

I know most of the news is about the health impact of the coronavirus, but I think most people will be more affected by the financial implications of this virus.

Personally, I've halved my salary. My team has also taken a salary reduction. This is already causing some of them to look for other jobs (understandable).

I think the company I work for can probably survive another three months or so should things stay exactly the way they are now.

jrmb · 13-03-2020 12:19pm

I've been working full time and I'm getting ready to go back to college. I was hoping to finance the coming two years through a mixture of a loan and working half-time. The company has now suspended services until 30 March, and it's unclear whether they can withstand that, not to mention any extension to the closure. It's a very depressing time.

Irishphotodesk · 13-03-2020 12:36pm

More concerned with paying bills and surviving financially than the loss of my job.... Being self employed and operating as a contractor means I qualify for very little from the state.

Working 6 days a week for the past 10years to make ends meet, have had multiple talks with social welfare throughout the years, social welfare say that annually I earn too much to qualify (approx 35k) .... But if I give up the extra day a week, my wage drops by approx €10k - which I cannot even pay mortgage and bills with.... Only TV subscriptions I have are Netflix (€15month), mobile phone and home boradband costs me €70month - apart from that diesel, parking and general work expenses , food and house bills.

Financially - I'm operating month to month and this will put myself and my family in a difficult position financiallly,

Life has been very difficult for a number of years,... But ... Am I worried about my job ? No, my workplace might be closed but my job will be there when it reopens.

Fred Cryton · 13-03-2020 12:40pm

Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.

18-03-2020 9:18pm

Fred Cryton wrote: »

Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.

I hope you're right!

When you see mammoths like Ryanair resorting to their cash reserves to try see it through, no-one outside the food and medical sectors can be 100% certain.

I hope this pandemic coming after a financial meltdown reminds the public sector unions how much a secure job means to families and reduce their demands accordingly when this is over. They can't be bench marking salaries but not bench mark job losses.

smelly sock · 18-03-2020 9:21pm

Civil Servant so secure. Absolutely wish anyone who is threatened by jobs losses all the best. Hopefully this wont be like the last down turn and we will recover quicker.

Batgurl · 18-03-2020 10:55pm

People working in the travel and hospitality industry will be lucky to have jobs to go back to. And if they do have a job, there will likely be huge paycuts.

Realistically if business close for 2 months like they did in China, companies will not reopen. Airlines will go bust. Airports will close. Hotels, tour operators, travel agents won’t get the business even when they reopen because consumer confidence will be knocked.

Bars, restaurants, etc will be the same. They just won’t reopen. If the world governments don’t bailout this industry as it did the banks, there won’t be an industry when this is over. That’s my opinion.

krissovo · 18-03-2020 11:39pm

I am in the tech industry working with a one of the big Global leaders. Not quite as bullet proof as some but I feel very secure as even from home I am 90% productive using online conferencing and our customers include most governments, banks, defence and major retail stores need our product to function.

Our managers have told us to prioritise family first and customers second followed by our daily work. These rules apply to every employee globally, even our call center staff are working from home.

18-03-2020 11:52pm

Batgurl wrote: »

People working in the travel and hospitality industry will be lucky to have jobs to go back to. And if they do have a job, there will likely be huge paycuts.

Realistically if business close for 2 months like they did in China, companies will not reopen. Airlines will go bust. Airports will close. Hotels, tour operators, travel agents won’t get the business even when they reopen because consumer confidence will be knocked.

Bars, restaurants, etc will be the same. They just won’t reopen. If the world governments don’t bailout this industry as it did the banks, there won’t be an industry when this is over. That’s my opinion.

I agree.

I think the bar industry is finished. With people more health conscious anyway, more use of social media and dating apps, and shortly now after a few months of not going out ; bars and pubs will lose all attraction.

Colonel Panic · 19-03-2020 10:37am

I work in a company that should have the resilience to make it through, but I'm not there long so all bets are off.

skooterblue2 · 19-03-2020 12:38pm

Fred Cryton wrote: »

Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.

You are far out. This is going to take between 18-24 months, for the virus to complete its cycle.

The financial crash is only a coincidence and is a separate incident to the Virus. I have been predicting this date for 12 months (within a two week window). Everyone was laughing at me last christmas as they all had bumper years in retail. I was telling people to gear up for a sharp financial crash. I was wrong on that accounts as someone or group is interfering with how the stock market is performing as it seems to be a slow crash.

skooterblue2 · 19-03-2020 12:42pm

salonfire wrote: »

I agree.

I think the bar industry is finished. With people more health conscious anyway, more use of social media and dating apps, and shortly now after a few months of not going out ; bars and pubs will lose all attraction.

Restaurants and Bars and taverns were the next invention after beer. They were there then they will continue afterwards. This virus will be over in 2 years. Financially? Who know but we have to properly solve the problem this time. No more papering over, forgiving banks and printing more money.

skooterblue2 · 19-03-2020 12:46pm

Batgurl wrote: »

People working in the travel and hospitality industry will be lucky to have jobs to go back to. And if they do have a job, there will likely be huge paycuts.

I am going to miss the cruise line industry. That is going to take a massive hit with ships tied up for long durations in port. They are already tied up for a month. Anyone here know anything about shipping? An hour tied up is a long time considering port fees. Now imagine one of them Behemoths tied up for months or two years?

Cyrus · 19-03-2020 12:48pm

skooterblue2 wrote: »

You are far out. This is going to take between 18-24 months, for the virus to complete its cycle.

The financial crash is only a coincidence and is a separate incident to the Virus. I have been predicting this date for 12 months (within a two week window). Everyone was laughing at me last christmas as they all had bumper years in retail. I was telling people to gear up for a sharp financial crash. I was wrong on that accounts as someone or group is interfering with how the stock market is performing as it seems to be a slow crash.

if you think that schools are going to close and everyone is going to be working from home for any longer than 2-3 months i think you are wrong.

skooterblue2 · 19-03-2020 12:52pm

Cyrus wrote: »

if you think that schools are going to close and everyone is going to be working from home for any longer than 2-3 months i think you are wrong.

I didnt say that either. The Virus has its own life cycle, its about how we adapt to it. Going by mathematical models, it will peak in April and then plateau.... then it will decline. No my opinion, germans, then Americans say 18 months. More or less the same as the Spanish Flu.

skooterblue2 · 19-03-2020 12:56pm

Colonel Panic wrote: »

I work in a company that should have the resilience to make it through, but I'm not there long so all bets are off.

A lot of Blue chips with AAA security are really only B rated because of debt leveraged against them. Once people realise that, they will go to BBB and from there down the Swaney. AIB is in danger, AT&T is going to be gone and a whole lot more.

beauf · 19-03-2020 12:59pm

skooterblue2 wrote: »

I didnt say that either. The Virus has its own life cycle, its about how we adapt to it. Going by mathematical models, it will peak in April and then plateau.... then it will decline. No my opinion, germans, then Americans say 18 months. More or less the same as the Spanish Flu.

How long did it take in China.

https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/16/dow-inc-ceo-business-returns-in-china-as-coronavirus-outbreak-eases.html

skooterblue2 · 19-03-2020 1:03pm

beauf wrote: »

How long did it take in China.

https://www.google.com/amp/s/www.cnbc.com/amp/2020/03/16/dow-inc-ceo-business-returns-in-china-as-coronavirus-outbreak-eases.html

There are two separate incidents going on here. One is the Virus, the other is the Financial crash which has to do with uncontrolled leverage and unresolved debt.

Cyrus · 19-03-2020 1:03pm

skooterblue2 wrote: »

I didnt say that either. The Virus has its own life cycle, its about how we adapt to it. Going by mathematical models, it will peak in April and then plateau.... then it will decline. No my opinion, germans, then Americans say 18 months. More or less the same as the Spanish Flu.

but what does this 18 months mean,

if things are getting back to normal in china after 12-16 weeks what relevance is this 18 months?

skooterblue2 · 19-03-2020 1:08pm

Cyrus wrote: »

but what does this 18 months mean,

if things are getting back to normal in china after 12-16 weeks what relevance is this 18 months?

This is a global virus, not just in China. Its has to work its way around the world and could end up back in China, like the Spanish flu ended up back in the USA where it started.

I wouldnt base all that optimism on just one journalists report. The stockmarket crash is still happening. the full fall out of the Virus hasnt hit Europe or even the states or Russia for that matter yet. Imagine how it is going to hit India and Brazil!?!?!? Open sewers, poor water quality, over populations....

I am no fan of our current Taoiseach but he was right. This is the calm before the storm.

I told you it wasnt my opinion, it was someone elses:

https://www.reuters.com/article/us-health-coronavirus-germany-millions/german-institute-two-years-for-pandemic-to-run-its-course-idUSKBN2141GT

SusieBlue · 19-03-2020 1:09pm

Very, very worried. And I don't work in the hospitality, retail or tourism industries either.

Cyrus · 19-03-2020 1:12pm

skooterblue2 wrote: »

This is a global virus, not just in China. Its has to work its way around the world and could end up back in China, like the Spanish flu ended up back in the USA where it started.

I wouldnt base all that optimism on just one journalists report. The stockmarket crash is still happening. the full fall out of the Virus hasnt hit Europe or even the states or Russia for that matter yet. Imagine how it is going to hit India and Brazil!?!?!?

I am no fan of our current Taoiseach but he was right. This is the calm before the storm.

id rather base my opinion on whats happening now in the country that had the first outbreak than work on the assumption that the global economy will grind to a halt for 18 months and that my kids wont be able to goto school.

stockmarkets get volatile at the hint of bad news, its hardly surprising.

theteal · 19-03-2020 1:15pm

When this all started, business (private airline) began to boom, still busy now. When borders are completely shut, there will be issues. It's a global business though so there'll be rich people with flight needs in places without restrictions so there'll be some money coming in. Our workload hasn't changed and still busy getting through IT projects

skooterblue2 · 19-03-2020 1:16pm

Cyrus wrote: »

id rather base my opinion on whats happening now in the country that had the first outbreak than work on the assumption that the global economy will grind to a halt for 18 months and that my kids wont be able to goto school.

stockmarkets get volatile at the hint of bad news, its hardly surprising.

China is a different type of country. It has a controlled media. They hid the extent of this virus for months. They had entry only hospitals. They had mass graves.

Read the history of the Spanish flu. There could be a mutation and reinfection. I am not making any preditions on your kids or their education but it is going to a very different world. I am getting lectures and communicating with tutors over the internet.

New day, new problems, new world (order).

mcgovern · 19-03-2020 1:18pm

Fred Cryton wrote: »

Your company should apply either for government assistance or else short term loans from banks. There should be no need for businesses to hit the wall over this.

It's a short term sharp economic shock but give it 4 months and will be distant memory.

Also bear in mind that corporates have a set expenses budget for 2020. So if they're not going to restaurants in early 2020, they will be going twice as much in late 2020. That budget will certainly be spent. This is just a short term cashflow problem for restaurants which should be manageable.

That's not the way it works....
'Corporates' will be cutting discretionary spending to make up for the loss of income. A lot of them are going to be severly impacted by this so if you think it's going to be party season at the end of the year you are in for a big shock.

Cyrus · 19-03-2020 1:23pm

skooterblue2 wrote: »

China is a different type of country. It has a controlled media. They hid the extent of this virus for months. They had entry only hospitals. They had mass graves.

Read the history of the Spanish flu. There could be a mutation and reinfection. I am not making any preditions on your kids or their education but it is going to a very different world. I am getting lectures and communicating with tutors over the internet.

New day, new problems, new world (order).

that was 100 years ago.

i dont share your outlook.

skooterblue2 · 19-03-2020 1:24pm

Cyrus wrote: »

stockmarkets get volatile at the hint of bad news, its hardly surprising.

Oh god yeah they do. They are usually right because they control the agenda. They decide who gets access to capital and who doesnt. How many good businesses flounder because they had no access to capital and how many crazy companies run because they had a monopoly on the market.

I didnt say this was right or wrong but this is the way the market is going to pan out.

When you know the destination, then its easy to see the journey forward.

skooterblue2 · 19-03-2020 1:28pm

Cyrus wrote: »

that was 100 years ago.

i dont share your outlook.

Which bit dont you share?
Massive amounts of surface water and hot summers?
Massive amounts of people doing unrestricted moving ?
People living in massive high density areas with poor sanitation?
People returning to their homelands?
Many government either ignore or tried to cover it up with propaganda.
"What about the black and tans?"

You dont see the parralells with World War one?

GBX · 19-03-2020 1:30pm

Worried now. Staff informed that we will have some temporary lay offs with others on short time contracts till this blows over. Management to talk to people individually in the coming days.

lawred2 · 19-03-2020 1:31pm

It will depend how patient our Irish billionaire owner is...

Keeping us employed for the next six to twelve months will be tantamount to philanthropy... Our industry is dependent on sports.

Homelander · 19-03-2020 1:38pm

Moderately. Not that I will lose my job, but a lot of my work will dry up so I'll take a hefty financial hit, probably about 50% of my income.

skooterblue2 · 19-03-2020 1:40pm

lawred2 wrote: »

It will depend how patient our Irish billionaire owner is...

Keeping us employed for the next six to twelve months will be tantamount to philanthropy... Our industry is dependent on sports.

Denis OBrien and Michael O Leary will be busy collecting glasses at the Bilderberg conference before they give the G20 their agenda.

lcstress2012 · 19-03-2020 2:02pm

I work in the airport for the DAA so I’m safe enough. Horrible for anyone to lose their job.

Cyrus · 19-03-2020 2:05pm

skooterblue2 wrote: »

Which bit dont you share?
Massive amounts of surface water and hot summers?
Massive amounts of people doing unrestricted moving ?
People living in massive high density areas with poor sanitation?
People returning to their homelands?
Many government either ignore or tried to cover it up with propaganda.
"What about the black and tans?"

You dont see the parralells with World War one?

medical science has advanced exponentially for one.

drunkmonkey · 19-03-2020 2:10pm

lcstress2012 wrote: »

I work in the airport for the DAA so I’m safe enough. Horrible for anyone to lose their job.

Are we not going the shut the airports and have a skeleton staff from Saturday night, I'd hope the government will only allow essential travel, i.e emergency workers/health staff.

skooterblue2 · 19-03-2020 2:17pm

Cyrus wrote: »

medical science has advanced exponentially for one.

yes it has but on what scale? will there be a mask for everyone?
Will there be a ventillator for everyone? or will nurses and doctors have to make decisions?
How are you going to halt the movement of people? or can ordinary people travel further in different directions?
How are you going to cool down the summers and remove the surface water?
how are you going to restricts socialising in ways you couldnt before?

The Virus still doubling in population every 20 minutes in a human body and the global infection rates grows at a rate of about 30% a day give or take (I am monitoring it on a spread sheet).

We know many more things but are we choosing to employ those methods? My less than gifted sisters in law, travelled for St Patricks day to our home despite my protests and one had the flu and the other returned to her mother with diabetes and high blood pressure.

I am not worried about the Virus killing me, I am worried about stupid people doing stupid stuff and not heeding warnings.

All that fandango · 19-03-2020 2:25pm

My job was already on the line when flybe went bust (I work in a small airport).

beauf · 19-03-2020 2:26pm

skooterblue2 wrote: »

There are two separate incidents going on here. One is the Virus, the other is the Financial crash which has to do with uncontrolled leverage and unresolved debt.

Yes but the comment was specifically and solely about the virus. It will be a rolling window and the shutdown will do the same. In China, they haven't lifted the isolation, despite the new cases numbers. But the economic effects have stabilized. No doubt there will continue to be ripples for a long time as it hits China's trading partners in turn.

The housing crash the last time took far longer than 18 months to cycle through the economy, as have other crashes. You could argue the housing crisis hasn't recovered from that a decade later. So where the 18 months comes from I have no idea. Just picked out of air for click bait probably. The stock markets seem to have a crash every other week, constantly in boom and bust cycle. Not everything mirrors the stock market.

This has been going on for months in China and other parts of Asia. They seem to be managing. I'm not entirely sure why there's hysterics from some people here.

Maybe some people don't remember the previous crashes. I certainly do.

skooterblue2 · 19-03-2020 2:36pm

beauf wrote: »

Yes but the comment was specifically and solely about the virus. It will be a rolling window and the shutdown will do the same. In China, they haven't lifted the isolation, despite the new cases numbers. But the economic effects have stabilized. No doubt there will continue to be ripples for a long time as it hits China's trading partners in turn.

The housing crash the last time took far longer than 18 months to cycle through the economy, as have other crashes. You could argue the housing crisis hasn't recovered from that a decade later. So where the 18 months comes from I have no idea. Just picked out of air for click bait probably. The stock markets seem to have a crash every other week, constantly in boom and bust cycle. Not everything mirrors the stock market.

This has been going on for months in China and other parts of Asia. They seem to be managing. I'm not entirely sure why there's hysterics from some people here.

Maybe some people don't remember the previous crashes. I certainly do.

The 18 months is from an american report for the life cycle of the Virus. The economic crash was going to happen one way or another, just the virus came first.

I am not keen on the Chinese definition of "Managed" if you mean denying it, mass graves, one way hospitals and the things that go on in the background in these times.

codrulz · 19-03-2020 2:46pm

skooterblue2 wrote: »

You are far out. This is going to take between 18-24 months, for the virus to complete its cycle.

The financial crash is only a coincidence and is a separate incident to the Virus. I have been predicting this date for 12 months (within a two week window). Everyone was laughing at me last christmas as they all had bumper years in retail. I was telling people to gear up for a sharp financial crash. I was wrong on that accounts as someone or group is interfering with how the stock market is performing as it seems to be a slow crash.

You can't be serious, the stock market has crashed slowly‽ Here's a list of the largest one-day point drops in Dow history, with percents at the end. this drop has eclipsed the 1929 crash substantially and has been stunningly quick. Despite the injection of trillions by central banks across the world to provide liquidity and promote buying.
1 2020-03-16 20,188.52 −2,997.10 −12.93
2 2020-03-12 21,200.62 −2,352.60 −9.99
3 2020-03-09 23,851.02 −2,013.76 −7.79
4 2020-03-11 23,553.22 −1,464.94 −5.86
5 2020-03-18 19,898.92 −1,338.46 −6.30
6 2020-02-27 25,766.64 −1,190.95 −4.42
7 2018-02-05 24,345.75 −1,175.21 −4.60
8 2018-02-08 23,860.46 −1,032.89 −4.15
9 2020-02-24 27,960.80 −1,031.61 −3.56
10 2020-03-05 26,121.28 −969.58 −3.58
11 2020-02-25 27,081.36 −879.44 −3.15
12 2018-10-10 25,598.74 −831.83 −3.15
13 2019-08-14 25,479.42 −800.49 −3.05
14 2018-12-04 25,027.07 −799.36 −3.10
15 2020-03-03 25,917.41 −785.91 −2.94

rahmalec · 19-03-2020 2:52pm

My job is completely gone.
Work in music, would be one of the best in my field and first call in the country for a lot of things.
I recon even when this is all over people still won't be going to gigs for a while.

Anybody have any suggestions for what I should do?
I have a van.
I also have a good numbers brain.

jrosen · 19-03-2020 2:55pm

At the moment not too worried, I have been laid off temporarily but I know my job is there for me when this ends.
However there is only so long smaller business can stay out of operation and not impact the reopening.
The longer this goes on will increase my concern.
I really feel for people where both earners are at risk of loosing their job.

beauf · 19-03-2020 3:03pm

skooterblue2 wrote: »

The 18 months is from an american report for the life cycle of the Virus. The economic crash was going to happen one way or another, just the virus came first.

I am not keen on the Chinese definition of "Managed" if you mean denying it, mass graves, one way hospitals and the things that go on in the background in these times.

Well I agree with you I'm suspicious of China's figures, leopard and their spots etc. But then the UK and the US are doing similar.

I suspect that when they start testing to see who has had it, but didn't notice, they'll find that vastly more people have had it than realized. But that will allow people to resume some form of normality.

Likewise the crash some form of crash or correction was inevitable. But it will come back to a different level but, it will return to a functioning market at some point.

PmMeUrDogs · 19-03-2020 3:14pm

I'm concerned.

I work in hospitality and I'm currently awaiting an email that'll announce our closure. I know we'll reopen because we're a large, corporate business. However, I also know we'll reopen with massive budgetary cuts. Having recently been promoted, I expect to be immediately demoted to save money and have my hours slashed.

So while I'm not worried about losing my job as such, I'm definitely worried about the prospect of going back to an untenable work situation and the idea of having to job hunt in a very precarious time, where I most likely will not be offered my current salary due to the impending economic crash.

skooterblue2 · 19-03-2020 3:16pm

codrulz wrote: »

You can't be serious, the stock market has crashed slowly‽ Here's a list of the largest one-day point drops in Dow history, with percents at the end. this drop has eclipsed the 1929 crash substantially and has been stunningly quick. Despite the injection of trillions by central banks across the world to provide liquidity and promote buying.
1 2020-03-16 20,188.52 −2,997.10 −12.93
2 2020-03-12 21,200.62 −2,352.60 −9.99
3 2020-03-09 23,851.02 −2,013.76 −7.79
4 2020-03-11 23,553.22 −1,464.94 −5.86
5 2020-03-18 19,898.92 −1,338.46 −6.30
6 2020-02-27 25,766.64 −1,190.95 −4.42
7 2018-02-05 24,345.75 −1,175.21 −4.60
8 2018-02-08 23,860.46 −1,032.89 −4.15
9 2020-02-24 27,960.80 −1,031.61 −3.56
10 2020-03-05 26,121.28 −969.58 −3.58
11 2020-02-25 27,081.36 −879.44 −3.15
12 2018-10-10 25,598.74 −831.83 −3.15
13 2019-08-14 25,479.42 −800.49 −3.05
14 2018-12-04 25,027.07 −799.36 −3.10
15 2020-03-03 25,917.41 −785.91 −2.94

That is what I am saying. That stock drop should have all have happened on the one day like 1929. I am talking about a sudden shock not a sustain, lose three days in a row and then gain a bit senario. Someone is injecting money into the American economy to soften the blow. Most people in my wifes family dont understand how the stockmarket affects their lives, just like politics.

helimachoptor · 19-03-2020 3:25pm

I'm in travel tech, we've had a 40% reduction.

Its to be expected, I think most are happy to have a job.
The question is how long can the company survive with that cut and what comes after.

skooterblue2 · 19-03-2020 3:33pm

beauf wrote: »

Well I agree with you I'm suspicious of China's figures, leopard and their spots etc. But then the UK and the US are doing similar.
.

The difference between the UK & USA approach and China is, China did move on it, UK and USA have better intelligence services were slower to react, than the Irish Government. That is scary unless they wanted to cull the older population?

partyguinness · 19-03-2020 3:36pm

Is it time to round on the teachers yet?

Pitchforks ready...

codrulz · 19-03-2020 3:39pm

skooterblue2 wrote: »

That is what I am saying. That stock drop should have all have happened on the one day like 1929. I am talking about a sudden shock not a sustain, lose three days in a row and then gain a bit senario. Someone is injecting money into the American economy to soften the blow. Most people in my wifes family dont understand how the stockmarket affects their lives, just like politics.

Thats not what happened in 1929, it wasn't all on one day, we have had bigger one day drops than they ever did already.
The Fed, ECB, BOE, BOJ are the biggest suppliers of funds such as you mention, through several means such tthrough the repo market, bond purchasing programmes and now lending with equities as collateral.

skooterblue2 · 19-03-2020 3:44pm

codrulz wrote: »

Thats not what happened in 1929, it wasn't all on one day, we have had bigger one day drops than they ever did already.
The Fed, ECB, BOE, BOJ are the biggest suppliers of funds such as you mention, through several means such tthrough the repo market, bond purchasing programmes and now lending with equities as collateral.

yeah but that was when a few thousand dollars would buy a farm and today, would $250000 buy you a John Deere Tractor? Different times. Its still an over leveraged market.

Limerick_dude · 19-03-2020 4:02pm

skooterblue2 wrote: »

I am going to miss the cruise line industry. That is going to take a massive hit with ships tied up for long durations in port. They are already tied up for a month. Anyone here know anything about shipping? An hour tied up is a long time considering port fees. Now imagine one of them Behemoths tied up for months or two years?

You'd have to think this industry is gone with the costs of that alone and it's biggest customers are the older generation, can't see it surviving.

How worried are you about losing your job right now?

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