One thing people will figure out in the coming weeks is the money they will save from not eating out. Instead of paying $8 for a fast food meal they will be able to have a much better home cooked meal for a lower price. Another thing people will figure out but maybe not
....consciously is that it takes about 3 weeks to change a habit/behavior. So what is going to happen after a month of people cooking at home & saving money? Will they suddenly abandon their new habit of cooking at home when the all clear is given or will they continue the new
....behavior? If they do continue the habit, well, if they do that then you just made a long term economic shift that would have major economic impacts for employment, resources and capital.
This is just one economic shift going on. Think about all those new gun buyers.
This is just one economic shift going on. Think about all those new gun buyers.
After this is over, those people aren't going to return the guns. That means there will be more demand for ammo. Those that couldn't get one because of crazy leftist laws and shutdowns will make sure they get a gun when this over. Keeping that industry going.
You now have 10's of millions of people working from home. Being at home all day, every day, people start to notice things that need fixed, redone, or improved. Home improvement projects will be done not just during this crisis but for a long period,same for yard work/landscaping
Companies will start to rethink the need for office space and overhead depending on if productivity drops or increases. They will see defects and shortages in their IT department. Pushing possible upgrading of needed IT infrastructure & possible reversing the move to the cloud.
.....maybe stopping the outsourcing of their IT/customer service.People being tracked by their phones may rethink their views on privacy protections. People bored out of their minds might play video games where before they didn't. Creating a new customer base for that product.
It's spring time with millions traped in the house. There will probably be a baby boom in nine months. Setting up another major economic shift, much like the previous baby boomer generation did.
This event is compressing years of economic shift into a couple weeks/months. The effects of such a thing could change the entire economy in ways people haven't even considered. How many people unemployed will start a home business?
You now have millions of people with endless time on their hands what type of inventions will be made what types of processes improvements will be thought of?
10 million people have become unemployed in the last 2 weeks, millions of businesses are shuttered.
10 million people have become unemployed in the last 2 weeks, millions of businesses are shuttered.
This has NEVER happened before. This is TOTALLY different than any other time in our history. Yet, people are thinking in terms of a typical economic contraction. It's an economic shift not seen since WW2 and we are still seeing economic impacts from that shift 80 years on.
Will this have as long a lasting impact on our economy as that previous economic shift had? Maybe. Maybe not. However, it will have a very big and very powerful immediate short and medium term impact. This isn't even accounting for the supply chains, government purchasing,
....and capital expenditures changes coming down the pike. Not to mention the changing priorities of companies and government that will drive a whole new economic shift as people try to prevent this from ever happening again.
But according to most on Twitter we are all going to die soon and/or go bankrupt so just ignore this thread and carry on with the end of the world. Sorry, what was I thinking.🤕🤕
