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US unemployment claims shatter record as coronavirus hammers economy

Sub_Level

wants to fuck an Asian grill.
Apr 9, 2009
30,285
7,863
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why oh why would the government seize absolute power over the lives of citizens if not to protect their welfare

i can think of LITERALLY no other reason
How is being told to stay inside as much as possible for 2 weeks so you don't contract a highly transmisible virus "taking absolute power" over your life?
 

SLoWMoTIoN

Milk Connoisseur
Feb 2, 2018
13,903
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I was gonna start a new job before corona chan fucked everything up.

Thanks corporations, the government and China!
 
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Ovek

Member
May 30, 2013
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3.3 million in so short time? It's gonna smash also Europe. No doubt about it.
It's currently hammering the UK but going suspiciously unreported. I know a few people in the last few days that have been "let go" and I'm not talking service industry jobs here either but highly paid software developer jobs and the like.
 
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Yoda

Member
Jun 17, 2011
3,461
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690
I'm surprised the market didn't have a visceral reaction to the numbers. Obviously you can make the argument the unemployment numbers are priced in, but given its magnitude, I assumed another drop. Either the markets are delusional, or there's really a belief we can "turn it back on" in a month or two.

A few other tangents:
* When people eventually go back to work, there's almost no way we'll have a vaccine, given the virus' ability to easily spread, seems like we're stuck between a rock and a hard-place even if the infection rate goes down, prompting a return to "normalcy".
* If these unemployment numbers continue/hold, it'll be worse than the great depression. I think turning the economy back on will fall into the realm of a public health question. Surely as society deteriorates, you'll have indirect fatalities, whether it be from suicide, falling into poor health due to no longer having the resources to take care of one's self or people who depend on them, increased crime, etc...
 

crowbrow

Banned
Feb 28, 2019
3,156
3,555
570
I'm surprised the market didn't have a visceral reaction to the numbers. Obviously you can make the argument the unemployment numbers are priced in, but given its magnitude, I assumed another drop. Either the markets are delusional, or there's really a belief we can "turn it back on" in a month or two.

A few other tangents:
* When people eventually go back to work, there's almost no way we'll have a vaccine, given the virus' ability to easily spread, seems like we're stuck between a rock and a hard-place even if the infection rate goes down, prompting a return to "normalcy".
* If these unemployment numbers continue/hold, it'll be worse than the great depression. I think turning the economy back on will fall into the realm of a public health question. Surely as society deteriorates, you'll have indirect fatalities, whether it be from suicide, falling into poor health due to no longer having the resources to take care of one's self or people who depend on them, increased crime, etc...
Markets are always delusional.
 
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Super Mario

Mario Mario
Nov 12, 2016
2,375
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The left is licking their chops at this wonderful news. I shake my head hard at the folks saying "why would the left want this?" Like suddenly a pandemic makes them forget about their agenda and the dependence on government. This is exactly what they want. Now they will hit the polls twice as hard this November because of a new topic like "I'm poor and some other guy is rich"
 

RealGassy

Banned
Sep 22, 2019
349
367
250
The left is licking their chops at this wonderful news. I shake my head hard at the folks saying "why would the left want this?" Like suddenly a pandemic makes them forget about their agenda and the dependence on government. This is exactly what they want. Now they will hit the polls twice as hard this November because of a new topic like "I'm poor and some other guy is rich"
I can't imagine anyone sane blaming Trump for the virus situation.

Neither can I imagine Joe senile hair-sniffer Biden winning.
 
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Mar 14, 2018
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How is being told to stay inside as much as possible for 2 weeks so you don't contract a highly transmisible virus "taking absolute power" over your life?
it isn't two weeks. it's going to be something like three months at the lowest. and after that you think things just go back to normal?

every aspect of human life apart from eating, shopping sleeping and working has been stopped by government mandate. that's a hell of a lot more than "being told to stay inside as much as possible for two weeks"

the precedent this sets is instane
 
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Tesseract

Crushed by Thanos
Dec 7, 2008
48,956
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The Pentagon
it isn't two weeks. it's going to be something like three months at the lowest. and after that you think things just go back to normal?

every aspect of human life apart from eating, shopping sleeping and working has been stopped by government mandate. that's a hell of a lot more than "being told to stay inside as much as possible for two weeks" genius

the precedent this sets is instane
we'll see
 
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undrtakr900

Member
Oct 30, 2007
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it isn't two weeks. it's going to be something like three months at the lowest. and after that you think things just go back to normal?

every aspect of human life apart from eating, shopping sleeping and working has been stopped by government mandate. that's a hell of a lot more than "being told to stay inside as much as possible for two weeks"

the precedent this sets is instane
I'm in Cali and hate the shutdown mandate too, but I understand why they're doing it. Do know any alternative response(s) to Covid-19 that the government could implement that's less taxing on the economy?
 
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Taxexemption

Member
Oct 11, 2011
530
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I'm in Cali and hate the shutdown mandate too, but I understand why they're doing it. Do know any alternative response(s) to Covid-19 that the government could implement that's less taxing on the economy?
Do we even know if any of these measures are effective? What I see is a propaganda campaign to justify what we are doing. If we are all still going to the same grocery stores, and many of us multiple times because we can't get what we need, whose to say we aren't spreading it just as quickly?


If the majority of cashiers/stockers at your grocery are young, or at least the ones that are going to be asymptomatic are, and even a few of them have it, won't we have the same numbers regardless in just a matter of time? How do we know it's effective? Wouldn't the government just lie to us if it wasn't because then not only would we be upset about the virus, we would be pissed off that we basically nuked our own economy for no reason.
 
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RealGassy

Banned
Sep 22, 2019
349
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Do we even know if any of these measures are effective? What I see is a propaganda campaign to justify what we are doing. If we are all still going to the same grocery stores, and many of us multiple times because we can't get what we need, whose to say we aren't spreading it just as quickly?


If the majority of cashiers/stockers at your grocery are young, or at least the ones that are going to be asymptomatic are, and even a few of them have it, won't we have the same numbers regardless in just a matter of time? How do we know it's effective? Wouldn't the government just lie to us if it wasn't because then not only would we be upset about the virus, we would be pissed off that we basically nuked our own economy for no reason.
That's essentially what's happening. Those measures are only effective at slowing down the spread, but not stopping it.
The only problem is - lockdown is very expensive, as huge portions of population don't have the savings to live on for extended periods.

Lockdown is like bullet time in Max Payne, it doesn't change the reality, it just slows it down.
I suspect the lockdown time will run out pretty soon due to public unrest as people go real broke.
 
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