There are a few areas where we are seeing the economy "reopened". That said, the early returns are not very promising from an economic perspective.
In this video I discuss how things are unfolding and some of the reasons behind it.
▶️ 3Speak
There are a few areas where we are seeing the economy "reopened". That said, the early returns are not very promising from an economic perspective.
In this video I discuss how things are unfolding and some of the reasons behind it.
▶️ 3Speak
Agreed, that the economies are not bouncing back any soon, agreed that the palliatives did not reach the target hands the way it was budgeted for. But what measures are government putting in place to help boost the economies as business resume?
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From what I can see, very little. Businesses that are open are not seeing customers because people are scared. This is something that will last a while, sad to say. For this reason, I see dark days ahead for the global economy.
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This means that recession my set in at the beginning of the economic reopening. Business owners should therefore think of getting their products and services to the customers and not the other way round as was the case before the pandemic. It's time for business Re-strategizing.
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It is going to be a major shift taking place. The next year will be very interesting to see how things pan out and what unfolds.
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Businesses are in a tough spot, re-open to an unknown demand which may not even cover the overhead...don't open and go bankrupt.
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Summary:
In this video, Task discusses recent announcements and observations regarding the reopening of the economy. He highlights the high number of first-time unemployment claims and points out the flawed expectation of a quick V-shaped recovery. Task emphasizes the importance of demand for businesses and notes that people's confidence is low due to health, job, and financial concerns. He mentions the challenges faced by workers in various sectors, such as retail and auto sales, due to lack of foot traffic and demand. Task expresses skepticism about a rapid economic recovery, citing historical precedents of prolonged downturns post-recession. He questions the sustainability of the current market performance, despite stimulus efforts, anticipating a longer recovery period.
Detailed Article:
Taskmaster4450's video delves into the complexities surrounding the economy's reopening amidst the ongoing pandemic. He starts by highlighting the staggering number of first-time jobless claims, exceeding 3 million, reflecting the economic strain despite certain states like Georgia reopening early. Task underscores the misguided notion of a swift V-shaped recovery, as merely opening businesses does not ensure a return to normalcy. He emphasizes the critical role of demand in driving business operations and notes that people's apprehensions about health and financial stability hinder consumer confidence and, subsequently, demand.
Throughout the video, Task expresses concerns about the fragile state of various sectors post-reopening. He mentions the apprehensions faced by retail workers, auto salespeople, and service industry employees due to a lack of customers and foot traffic. The uncertainty looming over job security adds to the overall anxiety in the workforce, posing a significant challenge to economic recovery. Task also mentions the potential impact on the real estate market, hinting at negative trends and a possible housing downturn in the future.
Drawing from historical patterns of economic downturns, Task cautions against expecting a swift recovery, emphasizing that market corrections take time and are unlikely to be resolved quickly. He questions the sustainability of the current market rally, despite substantial interventions from the Federal Reserve and Congress. Task predicts a prolonged recovery period due to ongoing health concerns and widespread fear among the populace, implying a challenging road ahead for the economy.
In conclusion, Taskmaster4450's analysis presents a sobering view of the economic landscape, cautioning against premature optimism and highlighting the underlying vulnerabilities and uncertainties that could impede a quick recovery. His insights call for a realistic assessment of the situation and preparation for a potentially prolonged economic downturn.