Perhaps the BEST B1G Forum anywhere, here at College Football Fan Site, CFB51!!!

In the long term the economy will bounce back.

In the short term things are about to get really ugly, and really fast.

The skyrocketing unemployment-- especially that of people like restaurant workers, entertainment industry, etc. who were already living paycheck to paycheck with zero savings-- is now resulting in record levels of visits to the local food banks.  In our part of Central Texas, they're basically completely out of food.  Donations of money have dropped significantly as people start worrying about their own livelihoods, donations of food are pretty much zero because nobody wants to make those deliveries/pickups, and volunteer hours have dropped to almost zero as people aren't willing to risk exposure.

Yet, just yesterday morning, CNBC (duh) was running a piece that said that the current run was over. That didn't age well.

The MSM and the fear they promote has had a lot to do with what happened to the markets last month.

People are starting to see past that. At least it seems like it.

I think the rebound over the past two weeks is just correcting the initial overreaction in March. I also don't think the SPX is going to hit 3000 before it goes below 2500 again but we'll see. The collapse of the hospitality and entertainment sectors are definitely going to have some long-term consequences.

I'm also interested to see what happens with commercial real estate. I think construction for office buildings will basically stop until companies figure out if/how much they want their employees to work remotely long-term (and/or how much employees gain in leverage to request doing more work from home).

I can tell you on the energy side, this is slowing down deployment of generation projects for wind, solar, and gas, alike, with each one similarly impacted. It could also accelerate the retirement of existing coal plants. It's also slowing down the deployment of energy efficiency projects, though.

 donations of food are pretty much zero because nobody wants to make those deliveries/pickups, and volunteer hours have dropped to almost zero as people aren't willing to risk exposure.

Unloaded truck/trailer this morning,sorted and itemized produce and dry goods.Pantry is open tonite and will be loading vehicles,recipients have to stay in vehichles and gloves,masks and 6 ft are firmly enforced

Fed Chair Powell says U.S. economy deteriorating with alarming speed



Well, no, Heather from the Washington Post, that's NOT what he said. This is an asshat headline, and more fear mongering from another rag "news"paper. This is what scares people, who take a headline and run with it. This crap has got to stop, but how??

There is no more reporting these days. Everything is an editorial.

This is what he actually said, quoted later in the article:

“People have been asked to put their lives and livelihoods on hold, at significant economic and personal cost,” Powell said in a Brookings Institution webcast. “We are moving with alarming speed from 50-year lows in unemployment to what will likely be very high, although temporary, levels.”

https://www.msn.com/en-us/money/markets/fed-chair-powell-says-us-economy-deteriorating-with-alarming-speed/ar-BB12o0Ak?li=BBnbfcN


I just shot Heather an email. We'll see if I get a response. Not gonna hold my breath.

The wife and I were helping pack food boxes all afternoon for restaurant workers.  Main I am tired.

The wife and I were helping pack food boxes all afternoon for restaurant workers.  Main I am tired.

Just got back from the Food Pantry did 3hrs this morning little over two hrs tonite had I believe 12 volunteers.Each recipient received1 bag each of Dairy/meat,produce,asst'd dry goods .I believe 85 vehichles stopped.One guy who helps run the center took food to like 12 guys laid off from his shop