Not gonna lie, I'm coming around to the idea this will be as bad as the financial crisis. The demand shock is so abrupt and severe that tons of businesses are going to die before help arrives. Fiscal stimulus won't reopen bankrupt businesses anytime soon.
-
So everyone doesn't lose their home and business.
Unemployment insurance? Sure. But it's not clear to me how handing out checks to everyone, both restaurant workers who will be suffering, and WFH tech employees who won't, will solve the problem.
-
-
Say your business had high fixed costs like rent or interest. And the government said, "You cannot conduct business for 3 months." And so you lose everything. I think many people in that situation feel cheated and never return to business. Rightfully so, in my mind.
-
Helicopter money doesn't solve that problem though. I'm all for unemployment insurance for the employees who lose their jobs, but I'm basically against bailing out the business owner. Business owners must take the good (chance of outsize returns) with the bad (this).
- 6 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.