Quote from: The Pharmacist on August 05, 2020, 05:27:12 PM

Quote from: StonksStonksStonks on August 05, 2020, 04:37:23 PM

How many times will this do this?

Not sure, but it looks like there's going to be at least one more.

Regarding the title of this thread, I don't agree with the premise "since jobs are unlikely to return". People are starting to realize that this strain of coronavirus isn't some second coming of the black plague, and businesses are starting to reopen (at least in the US). People who were out of work are starting to return to the workforce, so I don't think the situation is anywhere near as bleak as, say, 2008-2013 when unemployment was astronomical and wasn't due to a temporary shutdown.

But yeah, as far as that money printing press goes, it worries me. Someone is going to have to pay for all of these stimulus checks eventually, and we all know that someone is going to be the taxpayers. If I do get another check from the government, you can be damn sure I'm not going to blow it on frivolous stuff.

Quote from: The Pharmacist on Today at 02:10:34 AM

Quote from: StonksStonksStonks on August 05, 2020, 08:04:05 PM

Thats not the issue that causes jobs to not return... Its change of behavior. You get used to cooking at home, your diet changes, routine changes tend to have a longer lasting effect on restaurants ect. But even bigger is the work from home change. Many jobs are saying hey this work from home thing worked for a few months, we can do it permanent and save money on office rent. This for sure kills the restaurant next to the office, the gas station on your way to the office, and more. And then lastly, they once a job is remote work, they can outsoruce it to India.

Yep, those are all good points and I have in fact heard that some workers are continuing to work from home. I'm not sure if that's a good thing or not, either for the worker or the employer. But I guess we'll just have to see how this whole thing transpires. I've seen a lot of restaurants start delivery service, and pharmacies as well. I have doubts as to whether these changes are permanent or not, though I hear what you're saying about changes in behavior and so forth.

As far as outsourcing jobs to India, I don't suspect that's going to happen to a great extent. The US has already outsourced so many services to India and other spots in Asia that whatever remains probably has a reason to stay in the US.

@The Pharmacist you’re correct as jobs have indeed resumed, and Trump has also signalled that US companies should hire more from US only, and avoid hiring people from other countries. Also @StonksStonksStonks while all your points are valid, but I feel that US will witness a spring effect, as people have been locked in their homes for quiet a while now, and once the restrictions are lifted they’ll start to come out in huge numbers, and spend on stuff they don’t even need.

e.g. of an spring effect gamblers who hadn’t gambled for long, came out to gamble as soon as Las Vegas opened:

https://bitcointalk.org/index.php?topic=5253684.0

Sources:

https://fortune.com/2020/08/04/trump-h1b-visa-executive-order-federal-contracts/

https://www.uscis.gov/laws-and-policy/other-resources/buy-american-and-hire-american-putting-american-workers-first