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(Vox)   I know it's a stretch but it seems that service economies are likely to fail when there's no one around to service   (vox.com) divider line
    More: Obvious, Unemployment, Automobile, Business cycle, Economics, Economy, Monetary policy, Macroeconomics, Recession  
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587 clicks; posted to Business » on 16 Apr 2020 at 8:24 PM (23 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



10 Comments     (+0 »)
 
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2020-04-16 8:43:24 PM  
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2020-04-16 8:46:56 PM  
In before a notorious shiatposter proclaims it great that we don't have useless consumer goods
 
2020-04-16 8:55:30 PM  
I am available to be serviced.
 
2020-04-16 8:58:12 PM  
It's better than it would have been 25 years ago. At least there's some infrastructure to get goods and services to people willing to pay for them in the form of the Internet and e-Commerce.

It's still far from a perfect system.
 
2020-04-16 9:04:55 PM  
I have been assured that this was caused by lax governmental regulations.
 
2020-04-16 10:44:56 PM  
I have been assured that this was caused by stifling Big Government regulations.
 
2020-04-16 11:01:03 PM  
The article is mainly about retail, which is going to be mainly affected by buyers reducing spending, either because they've lost their job or because they're worried about losing job and so economising. So retail outlets will suffer a bit, depending on how discretionary their products are.

But the service industries are going to take a major hit as people are reluctant to expose themselves to potential infection. Restaurants, bars and movie theatres are obvious examples of businesses that are going to have a catastrophic decline in customer numbers. So all the employees will be out of work and won't have a paycheck to spend, further damping the overall economy.

Article about China trying to recover described hotpot chain Haidilao - whose name means "scooped out of the sea" - was on track for another year of growth before the virus hit. Diners used to wait in dense lines for hours for a table, with Haidilao offering free manicures and shoe shines to help pass the time. Now Haidilao says that at some shops, a robot can scoot to the entrance with take-home orders packed by an employee in a hazmat suit so people can avoid interacting with any other human. As customers wait for the robot, they can read the daily temperature readings of employees on the "Health Wall."

That's what they think it will take to get people to trust that the restaurant is safe
 
2020-04-17 12:36:02 AM  

jso2897: I have been assured that this was caused by stifling Big Government regulations.


Technically that is true
 
2020-04-17 6:29:43 AM  
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2020-04-17 10:03:20 AM  
Wasn't brick and mortar retail already screwed? Sports Authority, Sears, Kmart, JCPenney, Bed Bath and Beyond e. g.

Retail clothing going out of business has been a mystery to me for years since you have to put it on. I can't picture avoiding a clothing store to limit Trump Plague.

Hardware stores seem to be able to continue since Home Depot doesn't ever have an employee in it and if you find one they can't find their ass with both hands let alone help you pick a garbage disposal... That is probably out of stock.

Restaurants? Good riddance. I have food at home and can cook without googling 7 fantastic recipes for spaghetti and red sauce... And MOST IMPORTANTLY beer is $9-10 for 6 instead of $5-6 for one... In a "pint" glass that is 12 fookin ounces.

Slaintè🍻🍻
 
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