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 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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