Quote:
Originally Posted by packs
By the way, since it's always advised that you look on the bright side of things, a crash like this could be good for people my age. It may be an opportunity to build future wealth.
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It will be for sure, as long as you can keep your job. Travel and Entertainment is getting wiped out, that is 20mm workers plus all of the ancillary businesses that support them.
RE is going to get smoked as well.
Basically the economy is about to go dark for 30-60 days. I think people will understand how deep this is over the next few days when millions of people get layed off. The bankruptcy filings are going to be epic. Hilton was down 20 points today and is headed to zero Delta down 25% in one day....60% of 52 week high.
This is unprecedented. Card prices will be the least of anyones worries.