I feel that the great depression is coming.

There are many reasons I have felt this is coming for a long time.

So prior to Dec 2019 I felt it was enviable.

In addition to all these reasons we now have the virus. The problem is not so much the virus but our govts inept response. (see Covid thread).

By this stupid forced shutdown we are breaking the supply chains.

I don't want to go into all the horrific potential outcomes - but remember to look ahead not just at your feet.
Add on possible scenarios such as electrical grid failures, etc.

aquarian1 

I feel that the great depression is coming. There are many reasons I have felt this is coming for a long time. So prior to Dec 2019 I felt it was enviable. In addition to all these reasons we now have the virus. The problem is not so much the virus but our govts inept response. (see Covid thread). By this stupid forced shutdown we are breaking the supply chains. I don't want to go into all the horrific potential outcomes - but remember to look ahead not just at your feet. Add on possible scenarios such as electrical grid failures, etc.

Isn't this a duplicate of:

Recession? Depression? Bailout! I wanted to take some of my thoughts about the current economy out of the main Spoo's thread, and put them somewhere else. We've already officially began a technical bear market. Who here believes this COVID-19 will not just lead to a recession, …

It seems like a split topic?

Mike

I don't know much about economic eccentricities though I've studied it for a quite some time due to it being mandatory subject.

I can only give update on situation, people are projecting loss of 15-20% jobs in my country if this lock down is continued for more than 3-6 months.

These jobs are off the books jobs, means they either work on daily wages or contract basis and not usual company payroll. India is no Brazil so we have little to no structure in farming side of the things to support that population, basically our farming is still pretty behind rest of the world (even in 3rd world countries).

General estimation about national currency is also loss of value in tune of 10-20% in year or so.

Generally smaller businesses work on business cycle basis, meaning 3-6 months basis where they get contract from outside country and then generate income locally, it varies in nature and duration but usually that's the cycle assumed in Forex market to deliver the product and clear foreign exchange payments through banks. Since pretty much entire EU and US is shut down, there is little to nothing happening on that front too.

Since money will be getting difficult to come by it will be horrendous time for real estate and eventually banks. One little virus is pretty much breaking the camels back here.

-taking opportunity to post here since I can't in the other

Please use the existing topic. I'm closing this to prevent a split topic.

Sent using the NexusFi mobile app