Originally Posted by Buehler445:
I jinxed that shit with last night's post LOL.
It was expected. As cities and states have gone into lockdown lots will be laid off. I think food and hospitality is 15 million workers. A huge chunk of that will be laid off. You don't need waiters if you can't seat anyone for possibly the next month or two.
Hopefully it works and this shit goes away and doesnt come back for a 2nd wave. [Reply]
Originally Posted by ChiliConCarnage:
It was expected. As cities and states have gone into lockdown lots will be laid off. I think food and hospitality is 15 million workers. A huge chunk of that will be laid off. You don't need waiters if you can't seat anyone for possibly the next month or two.
Hopefully it works and this shit goes away and doesnt come back for a 2nd wave.
Agreed. I’ve had enough.
Hopefully those jobs are still there at the end. [Reply]
2008 recession blasted construction, manufacturing and financial / professional sectors employment.
I think an economic depression would mean construction falls off a cliff, if you're bearish then short homebuilders but probably not Lowe's / Home Depot types.
Big Finance I could imagine will have layoffs which will ultimately improve their bottom line as IB was already purging entry / early tenured professionals. I think working from home will expose IB and big corp management to the idea that their headcounts are inflated. [Reply]
Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line. [Reply]