Quote:
Originally Posted by someone123
There will be so much economic damage that people won't have as much money to go out and pile into bars or buy nice meals in restaurants even if they feel comfortable doing that.
One estimate I saw was -34% annualized GDP for the US for this quarter and then +19% annualized either the next quarter or the one after that. So a rebound but not enough to make up for the real loss of productivity. I think that prediction was made a while ago when the US seemed like it was doing better than it is now. There will be years of ripple effects as governments cut back to lessen the deficits and pay off debt.
I could see North America's median living standard in 2022 being worse than it was in 2007. Aside from the higher earners, most people have not been doing well even in the supposedly good economic times. We are lurching from economic crisis to economic crisis with most people treading water in between.
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It's bizarre how people think we can just rebound after this.
If you were working at 100 percent before this how on Earth are you able to make up for many months of unproductivity in the last 3-4 months of the year.
Regardless I'm a doomer who expects a depression to be imminent when people realize that we may not even get a vaccine in 2021.
My mind is now on how can we completely rework our service industry.
Taking a hockey arena as an example.
Can we completely rework crowd flow/control so that people won't come in contact with eachother.
If you have an Arena that currently fits 20,000 people can we convert that arena into 4-5 thousand box seats?
Current Arenas are too crowded but I wonder how much work it'd take to make it so that people are never crossing paths.
This included people going to bathrooms at scheduled times, entering arenas at scheduled times, being serve drinks at your seat, etc etc.