Finance director here. In a state ranked near the top for solvency by S&P and Moody's

Lots of job losses, way less investment in infrastructure like roads, schools, and bridges because no markets for bonds.

If the bad pensions are allowed to just unravel without a plan the market is going to crash as hard as Bear Sterns. You have to unwind something as large as Illinois' obligations and have a road map to doing haircuts on benefits. Just having them flash sell to cover payouts would fuck stocks and bonds.

You don't think corporates will tank if even states go belly up? The Fed would have to fund them for years.

Not my call, it's the politicos', but once Trump declared and put the guidelines up we basically had to close, so fuck the Feds. Also fuck him gaslighting like they didn't tell us to close all non-essential buildings when lots of us were open.

NYC Police and FIre pension is packed with cash, since the law does not allow any pickpocketing- acording to a firefighter relative. I think NYC should ask for a loan.

I know Illinois is fucked, as is NY (i’m in NYC), but what’s the time frame? How do you see the state addressing it, if at all? What would they tell the public?

And by July more than 20 Million will have returned to work.

Totally depends on how long unemployment stays high and how slow the recovery is. Also, more federal help. My state's unemployment trust will run dry in June and that'll burn through reserves without Fed help being extended.

Smart places are slashing now. We're looking at at least 2008 to The Great Depression now. People thinking we will just reopen to usual are delusional.

We polled our restaurants and only a bit over a third are reopening when they can.

Intredasting, thanks OP.
Any thoughts on where I should invest?

NYC might issue some bonds, and or ask NYstate pension for a loan.

The money is almost meaningless. It is only used as a management instrument. But without good management, it is poison.

>schools
Oh no not our faggot indoctrination camps

I pray to G-d our armed forces mows you retards down in the most brutal fashion.

IDK, I put 10% into a retirement account and $75 a week into a brokerage for years.

This is for retirement/early retirement so I just do low cost ratio S&P500 ETFs, SPY, IVV, for the vast majority. Picked up some S&P1000s that dropped to penny stocks in March and I hedge with oil and gold ETFs, and a fair amount in foreign large cap.

My foreign shit has tanked by I thought stocks were over valued in December, sold all my American ETFs, and then had $12k to plow in when we crashed.

Timing markets is impossible, just put it in over time but only place buy orders when it tanks. When I have enough I'll just put it all in Munis and try to earn $10-30k a year tax free on interest to supplement early retirement/part time work as a professor.

The whole situation is totally fucked

>economy shuts down
>nobody has ANY fucking money
>government has to bail out literally everything
>at the same time all these broke ass niggas are expected to pay it back it in taxes and then go on to stimulate the economy despite the realization nobody has any fucking money

Kek

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That's my brokerage. I had my 401k in the lowest cost S&P500 fund plus 20% in foreign large cap, but they won't let me control my own investments until I have $50k in. It's to keep the funds with liquidity from our payroll. Still worth it because it's 10% of my salary in a Roth and taxes are low as fuck right now.

Lol good luck with that. When you can btfo a bunch of illiterate Vietnamese rice farmers then you can talk shit.

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>mindlessly "investing" into ETFs
I shiggied

Are you a finance director for a city government?

The FED is buying munis. Can you pay your debt interest?

Good.
Glad this shitsmear is collapsing.

Recovery of jobs will never happen.

One reason only: Our entire economic system has an increased strain or weight upon it for everything in the system.

More jobs -- too many unnecessary ones, costs the economy more just for the added weight in paperwork and oversight for each additional job that exists.
When any one person has a job in the country, there has to be another person to watch over, and then there's the paperwork involved.

The economy is not a separate bubble entity as some treat it, where jobs are in their own bubble. Instead as one bubble, there is a tremendous weight put on the system to have the option to have an unlimited number of insurance companies. The ability for a market to compete necessarily rations the total resources of the entire system.

Think of it as games. The more games which exist, the greater the strain on all of us.

For example, basketball takes a strain because of the infrastructure involved keeping it at the same level of being on the surface as everything else. But obviously not everything can be at the headlines on the news at once, so there is unconscious competition.

Every individual layer of this economy is itself a weight. Every market which is saturated and yet still shows 'growth' in the huge numbers we're seeing with stocks and companies, it doesn't add up...something has to eventually give.

Makes me glad I went full marijuana with my career path, with investments into cheap land on the side. Everything has been pretty cozy so far, business is good and if shit hits the fan I'm just going to retreat to my mountain property

Taxes are for chumps and for Moloch to stave off inflation. Send not to know for whom the MMT printers BRRRR, they BRRRR for Blackrock and Goldman (not for thee).

Thanks user, I have some research to do

You're a really shit larper

The economy is supposed to be about production of real things though, right? Everything is supposed to be geared toward producing things that people actually use. Like houses, food, roads, etc. Yet increasingly, people do makework, busywork, and bullshit they can't even fathom.

Combine those people who are collecting $70k or $270k a year for meaningless work with those who aren't collecting anything, or at best doing seasonal or part-time work because there aren't enough wage positions at the low end. How the fuck does this make any sense?

The economy is fundamentally fake and gay because the biggest sectors are fundamentally fake and gay. Finance, real estate, and insurance are all basically predicated on endless growth. For all of those sectors to remain the hugely profitable beasts that they are (which nonetheless do not employ that many people as far as the total economy), you need nominal rises in asset prices. You can't flip houses without the prices appreciating, you can't day trade if stonks are deflationary, and so on.

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One of the redpills is that the biggest investors all made it big usually by having access to huge veins of capital (washing dirty money, ethnic networks, etc) and then by having access to inside information. These people routinely do insider trading. Look at the number of people who pulled out of stocks in late Jan-early Feb before the bottom fell out. Some have clearly bought that bottom out, which is why prices went back up, but I suspect others stayed out.

If you're 'in' you're allowed to do what the sheep cannot. You get to set/influence policy that will determine which companies sink or swim and then you get to make trades based on that info.

We can all sell each other hamburgers though, right?

>Blue state urbanite getting eager for Round Two
You mean your Mestizo mercenaries, Billy Yank. I hope your beloved Aztec killers turn on you and rip your heart out.

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Honest man is cattle rancher with family and 200 head of cattle. Dishonest - some say Jewish - man heads or buys regulatory board for livestock and then speculates on cattle futures.

Of course you do, yid.