Almost 90 percent of NYC bars and restaurants couldn’t pay August rent

Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by twblalock on Tuesday September 22, 2020 @01:55AM (#24551332)

You're kidding, right? Look at unemployment rates in the EU or Japan compared to the US. These are all first-world countries and yet there is still a vast difference in outcome.

There are various degrees of being scathed. "Everyone gets scathed" is not an argument. Some did way, way better than others.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by disgruntledphd2 on Tuesday September 22, 2020 @07:58AM (#24553452)

The US made a different set of choices to Western Europe with respect to unemployment. Europe (mostly) chose to maintain existing employment, while the US chose to make unemployment benefits much more generous.

In a short pandemic world, it's likely that the European strategy will perform better, while in a long pandemic world, the US strategy may perform better.

I do agree with the OP though, it's far too early to tell (except letting the unemployment benefits lapse in the US was almost certainly a bad idea).

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by refurb on Tuesday September 22, 2020 @01:44PM (#24557577)

Why is unemployment rate the definition of "success"? The US expanded unemployment insurance payment significantly. So if the gov't is giving businesses money to keep workers "employed" or just pay them through unemployment insurance, why is one better? It's still a gov't transfer to workers at risk.

And again, I wouldn't call out a "winner" just yet. Those decisions will likely have vastly different impacts post-epidemic.

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