Chitchat This is no Great Depression

[Thick Face Black Heart]

People are comparing the economic downswing to the Great Depression of 1929/1930s and that is just wrong.

It is quite unlikely unemployment will exceed 20% and reach close to 30% as last seen in 1930.

It is also impossible for the Dow and S&P to lose 80% or 90% of its value as the Fed has many more tools at its disposal compared to that time.

What we are seeing is instead panic by financial and economic pundits who seem to have a vested interest in making the outlook seem so dire that the world appears to be heading for total chaos and destruction.

The people who are offering this 1 in 100-years economic calamity are deflationists such as nouriel roubini who have traditionally been touting deflation and economic collapse for the past 30 years.

In the 1997 Asian crisis, 2000 tech bust, 2008 banking sector recession, many Singaporeans still found jobs, most workers still got paid on time, and life went on without a surge in homelessness or people taking to the streets in protest or folks dying of starvation of disease.

It will be the same this time round.

So no need to panic.

 

[tanwahtiu]

Yes. Just to bankrupt Trump need the whole world to bring him down.

With his wealth and installed power to him, mati leow....

With super internet where Work At Home can be achieved, the cisis is testing the vulnerable of the system and fine tune it.

Bye bye to work in city for white collar workers.... this is a lockdowm for Stay At home workers to get use to stay home and work your butt out....

People are comparing the economic downswing to the Great Depression of 1929/1930s and that is just wrong.

It is quite unlikely unemployment will exceed 20% and reach close to 30% as last seen in 1930.

It is also impossible for the Dow and S&P to lose 80% or 90% of its value as the Fed has many more tools at its disposal compared to that time.

What we are seeing is instead panic by financial and economic pundits who seem to have a vested interest in making the outlook seem so dire that the world appears to be heading for total chaos and destruction.

The people who are offering this 1 in 100-years economic calamity are deflationists such as nouriel roubini who have traditionally been touting deflation and economic collapse for the past 30 years.

In the 1997 Asian crisis, 2000 tech bust, 2008 banking sector recession, many Singaporeans still found jobs, most workers still got paid on time, and life went on without a surge in homelessness or people taking to the streets in protest or folks dying of starvation of disease.

It will be the same this time round.

So no need to panic.