[OutsiderFan]

This is the sound of the unemployment rate going up a tenth of a point.  Macy's furloughed most of their 130,000 employees.

That will be interesting.  Of the 130,000 furloughed, how many will be able and willing to return to work when Macy's reopens, either next month or next year?

https://www.cnbc.com/2020/03/30/coronavi...-week.html

Mine's happening tomorrow.  10% staff cuts, 15% pay cuts for everyone remaining.  This is just round one.

I was just to.d The Hartford has lost 50% of its billings as small commercial (SME) and group benefits take a beating from business shutting down and layoffs. Businesses won’t pay premiums and there ar a lot less people to offer benefits when they aren’t employees.

Just saw a report the Fed expects unemployment to hit 32%, with 47 million out of work This is depression territory. Don’t think Johny will be getting the G.I. Joe with the king fu grip this year.

The sad thing about this is this too didn’t have to be this way. The economy built on massive debt and low interest rates can’t survive a slow down. Most businesses don’t have cash reserves to ride out a dry spell, and are already in debt unable to make current payments. No way are these over leveraged companies going to get new financing. Might be a good time to become a bankruptcy lawyer. They will be needed like healthcare workers being fast-tracked into service before they are done with school due to staffing shortages.

[OutsiderFan]

This is the sound of the unemployment rate going up a tenth of a point.  Macy's furloughed most of their 130,000 employees.

That will be interesting.  Of the 130,000 furloughed, how many will be able and willing to return to work when Macy's reopens, either next month or next year?

https://www.cnbc.com/2020/03/30/coronavi...-week.html

Mine's happening tomorrow.  10% staff cuts, 15% pay cuts for everyone remaining.  This is just round one.

I was just to.d The Hartford has lost 50% of its billings as small commercial (SME) and group benefits take a beating from business shutting down and layoffs. Businesses won’t pay premiums and there ar a lot less people to offer benefits when they aren’t employees.

Just saw a report the Fed expects unemployment to hit 32%, with 47 million out of work This is depression territory. Don’t think Johny will be getting the G.I. Joe with the king fu grip this year.

The sad thing about this is this too didn’t have to be this way. The economy built on massive debt and low interest rates can’t survive a slow down. Most businesses don’t have cash reserves to ride out a dry spell, and are already in debt unable to make current payments. No way are these over leveraged companies going to get new financing. Might be a good time to become a bankruptcy lawyer. They will be needed like healthcare workers being fast-tracked into service before they are done with school due to staffing shortages.