This Is Nothing Like 1987 or 2008
Holy shit. Warren fucking Buffet doesn’t get it. This is a very bad sign. He’s one of the people who runs this country. (click for Yahoo story that set me off)
This is a disaster for non-salaried hourly and freelance gig economy workers. Those who live paycheck-to-paycheck are going to be crushed by this. Drivers. Caregivers. Dogwalkers. People who work in restaurants, live entertainment, sports. These people represent a much larger percentage of the population than most people think. One report said it was 40%. They are in the crosshairs of this crisis. A payroll tax cut won’t help you if you’ve got low or no pay.
Is there a plan for them? Because, if not, it’s going to get pretty damn ugly in about four weeks when they start getting evicted, move in with relatives, or join the growing zombie army on the streets of our cities.
Stop worrying about the market, and start worrying about the people who make up this country, and our shared responsibility for one another.