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Crazy, inept Mayor poll. My city Mayor is...   The Serious You: How Current Events Affect You

Started Nov-23 by Showtalk; 9105 views.
Showtalk said:

They have created enormous fixed costs. Fancy gyms, expensive dining areas along with the dorms.

in the private sector, we call that "Overhead".

The boss's brother in law carried on the payroll with generous benefits so he can sit in a back room and watch porn all day, then go home and snort Peruvian Marching Powder would be "overhead". So would the big boss' luxury yacht and Gulf Stream, and the very high maintenance trophy wife.

So while that can sometimes be dealt with if sales are up and the customer base is pretty much a slam dunk from having a near monopoly on the market, the moment that something shakes up the economy and sales plummet from, say, a global pandemic and a lot of people suddenly just trying to survive, then the cost of that brother in law and that trophy wife's extravagant shopping excursions help accelerate the negative cash flow all the way to insolvency.

Meanwhile, outfits that are lean and don't have all that excess overhead, might be able to weather the storm, rapidly pivot to deal with the new normal, and come out the other side as one of those left standing.

Showtalk said:

People are working longer than ever now, if they want to.

Many are working longer than ever because with too little purchasing power in retirement, and rising cost of living, Medicare premiums, etc. they have to.

Showtalk
Host

From: Showtalk 

Jan-28

Yes, they will remain standing. It’s really a toss up who will still have jobs post covid.

  • Edited February 13, 2021 11:19 pm  by  Showtalk
Showtalk
Host

From: Showtalk 

Jan-28

People also tend to be healthier longer, too.

IT's easy to guess from industries.

Industries that depend on large numbers of people in close proximity to one another for many hours at a time - things like indoor professional sports, things like cozy bars, places like cruise ships, may only come back as a shadow of their former selves.

Most people who worked in those professions will have, out of economic necessity, moved on to something else and will never return to their former professions.

Like when the oil boom went bust in the 1980s, there was a nearly 30 year hiatus where tens of thousands of experts left the field and moved to greener pastures, and were mostly all retired or dead when the next boom finally came. So a whole lot of knowledge and expertise was effectively lost forever and never came back.

At least over the past few years, people were staying healthier longer. That trend has sharply reversed in 2020 and may continue to trend downward for the next 30 years.

So while some of us from the mid 50s to mid 70s may enjoy a long healthy remaining life, a lot of the 30-somethings and 20-somethings of today are likely to have a far lower life expectancy and may develop all sorts of debilitating ailments a good decade younger than many of us old geezers.

Then at the same time, many of them are also losing at least a decade at the front end between student loans and struggling to launch a real career, so they are facing about 20 years of less productivity than their parents are enjoying.

Showtalk
Host

From: Showtalk 

Feb-13

Yes, that is true, some jobs and industries will become obsolete.   I hope restaurants don’t.  People need dining options.

Showtalk
Host

From: Showtalk 

Feb-13

Not if the government forgives all student loan debt.

WALTER784

From: WALTER784 

Feb-15

$1,661.87 in cats (ROCKETMAN_S) said...

Industries that depend on large numbers of people in close proximity to one another for many hours at a time - things like indoor professional sports, things like cozy bars, places like cruise ships, may only come back as a shadow of their former selves.

Athletic facilities, dance studios, bowling alleys, indoor tennis/other sports, swimming pools, saunas, gambling joints, drinking establishments, large indoor restaurants, yoga or other fitness classes, auditoriums, stadiums, museums, entertainment parks, circuses, auditoriums, comedian/opera/band performance stages, billiard halls, game centers, large aquariums,  live houses, etc.

The list is really endless!

FWIW

Showtalk
Host

From: Showtalk 

Feb-15

They can’t keep all those businesses closed indefinitely. Whether people will pay to spend time in crowded places is another thing. Many may fail due to fear of crowded spaces people developed due to Covid.

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