What Did You Buy Today?

[fenders53]

(03-31-2020, 01:48 PM)stockguru Wrote:

(03-31-2020, 01:40 PM)Otter Wrote: Small businesses generate 44% of America's economic activity.

80% of American workers live paycheck to paycheck.

Real wage growth has been stagnant to negative for over 35 years for over 90% of American workers.

Consumer debt as a percentage of GDP has dropped roughly 25% from its all-time highs in 2008 (from 100% to 75%), but is still at historically elevated levels (higher than it was in 2001).

Who buys the stuff from the big guys when the consumer is tapped out?

Again you must think this is the great depression era. This is all short term. Sure we will take hits. But we will always come back from blow, after blows. That's what makes America great, And these small businesses get supported more then you will ever know. My husband own 3 cafe's and our community is a strong one and we give back to them and we can always count on there support. In the past 3 months our traffic sales are down 12% which is not bad. We do what we can to keep our business growing. Delivery is one thing we started. Best of all we have not laid off any employees. Sure we cut hours back. But that's what you do to survive. We will come back strong. Coffee and bakery goods everyone loves 

-12% is not bad at all.  Do you live in a state that has avoided the virus for the most part?  My state is not locked down, but restaurants are closed except carryout.  Most of the smaller ones just closed for now.  Only a few have announced it's permanent so far.  I do think the restaurants will rebound quickly.  Hospitality and travel are the obvious victims.  Hotels are going to be deep in debt.  I feel bad for my cuz that is losing her travel agency.  It was her life dream.  People are not going to jump back on Alaskan cruise ships fast enough to save her.  Flying will be a big step for half the population.  They say it takes about 18 months on average for Americans to forget about a bad event and mostly return to normal activity levels.  Anybody here interested in being trapped on a cruise ship or a foreign country this fall?  You're bolder than most if you would even consider it.