Good Sam Club Open Roads Forum: General RVing Issues: our current FINANCIAL situation
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B.O. Plenty

Minnesota

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Joined: 02/04/2010

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Posted: 05/13/20 08:46pm Link  |  Print  |  Notify Moderator

Retired. Nothing has changed. Pensions are the same, SS is the same. Same lifestyle. Like a lot of retirees, if we decide we want something, if we can afford it, we buy it. I think that's where a lot of RV sales are going.
B.O.


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TechWriter

On The Road

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Posted: 05/14/20 07:07pm Link  |  Print  |  Notify Moderator

ajriding wrote:


Unemployment numbers are claimed anywhere between 14 and 24%. That is not really so bad considering the situation.
Remember many of these "unemployed" are really just on a leave while the businesses are shut down (hopefully they all start back up one day, but some will not).


Not likely. According to Forbes, 42% of recent layoffs will be permanent, the coronavirus recession will last far longer, and unemployment is closer to 25%. Fasten your seatbelts.


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DallasSteve

Texas

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Posted: 05/14/20 08:46pm Link  |  Print  |  Notify Moderator

TechWriter wrote:

ajriding wrote:


Unemployment numbers are claimed anywhere between 14 and 24%. That is not really so bad considering the situation.
Remember many of these "unemployed" are really just on a leave while the businesses are shut down (hopefully they all start back up one day, but some will not).


Not likely. According to Forbes, 42% of recent layoffs will be permanent, the coronavirus recession will last far longer, and unemployment is closer to 25%. Fasten your seatbelts.

People are going to start falling behind on their mortgages and (I believe) it will cascade into bigger economic shocks down the road. This misadventure of shutting down the economy could take 5 or 10 years to fully recover. We went from the greatest bull market ever to this for no good reason.





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