U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says

Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by onetimemanytime on Sunday March 22, 2020 @05:21PM (#22658786)

Denmark (I think) said that they'll freeze the economy, meaning that the state covers everything. Once over, it starts as if nothing happens. People will have no time to look for new jobs, they'll go to old ones and hopefully every company starts spending to support each other

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Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by samsonradu on Sunday March 22, 2020 @06:24PM (#22659317)

Sorry but I just can’t see this play out.

Consumption will suffer. When foreign tourists stop booking rooms in Copenhagen hotels, how/why keep people on the payroll? Also, isn’t it dangerous to distort the market to such a level? Maybe there are more productive activities for those employees to engage.

There will be dislocations of the workforce. Considering the ongoing crisis I would take official statements with a grain of salt also. They need to convince people to comply with the rules.

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Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by hakfoo on Monday March 23, 2020 @12:25AM (#22661261)

If they're pausing the nonessential economy, I don't see where it stops "I have a biology degree and experience, I'll transition from a paused job into a research team working on Covid-19".

What it stops is "I need to perform some trivial make-work job because the hotel/bar/unessential retail I used to work at shut down, and otherwise I starve and get evicted, so I'm going to traipse around and weaken quarentine procedures."

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Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says by Twixes on Sunday March 22, 2020 @10:23PM (#22660709)

There's no good solution to this crisis. But "pausing" the economy, even at a huge cost, is a better option than letting everything fall apart.

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