United Airlines to lay off 36000 staff.
The economic impact is by far more than any health impact. People are going to look back on this and see this is the time of the great depression. The time their families security and econoic well being was destroyed. The time when many lose their home to the banks. The time we started to eat canned food rather than fresh meat and vegetables.
Sadly, 80% of the world's population is in that boat. Living week to week and having the rug pulled from beneath them.
All for a "flu" that has a death rate less than 1%
What I find is that it is the public servants who are calling for the restrictions. They think this is all great as all they have to do is work from home. They still get their money. They pretend to work at their home computer whilst watching Netflix and take their dog for a walk. Whilst the rest of us who actually support the economy and pay their wages are wondering what the future holds. A case of the haves and have nots.
For Aviation Workers, Hospitality and Tourism, we are the first to be impact and the last to recover. Hundreds of thousands of people with uncertain futures. Also the building sector.
I've been infected at least Aviation wise. very lucky that till now, building is ok. But for how long. I can see the ass falling out of this as well in about 12 months time if this continues, and could be looking at paper losses of around 1 million to 2 million if we decide to flip stock. In other words sell for less for what we invested into the land purchasing it and building. I have never seen this before. My father did see something like it in 1988 when Australia was in recession and we dropped money then but we have had a good run since. But the losses this time round are potentially unprecedented.
We could suspend operation after our constructions are complete, and have completed stock and bank exposures of several million between myself and my partner. Some prjects are being moth balled indefinitely. The impact also falls on our staff and contractors.
So I am very much in the Trump and Sweden camp. Economy before anything. But obvious some precautions and looking after the vulnerable with lock downs.
What we have now is unsustainable. It can't continue for too much longer after this year. This is what everyone doesn't get.
