On 3/19/2020 1:30 PM, Keyser Soze wrote:
Mr. Luddite wrote:
On 3/19/2020 1:07 PM, Keyser Soze wrote:


Bank of America's top U.S. economist on Thursday warned that the country is
now in a recession in a note to investors.

CNBC reported that Michelle Meyer wrote in a letter to the company's
clients that the U.S. economy is in a "deep plunge" brought on by the
global coronavirus outbreak, which has sickened thousands across the
country and more than 200,000 globally.

“We are officially declaring that the economy has fallen into a recession
... joining the rest of the world, and it is a deep plunge,” Meyer
reportedly wrote. “




Not by the classic definition of a recession but still true.


What is weird though is that a recession is always marked by
a decline in spending by consumers due to economic uncertainty
and rising unemployment.

The situation we are in right now is not the result of the
above. It was brought on suddenly and without warning for
a reason that had nothing to do with economic uncertainty.

People would spend if they could but nothing is open.




Our local chain grocery stores are about 60% stocked with plenty of fruits
and veggies, no paper products, some meats, not much frozen food. We are
avoiding other retail outlets.


Yeah, one thing I noticed this morning at our local supermarket
during "senior" hour. The frozen food freezers were pretty much empty.

We have a farmer's market type place here called "Quintels" that
specializes in fresh fruits, veggies, etc., along with some
chicken and turkey at times.

They have started a delivery service to your home. You call them,
place an order for what you want from their website, put it on
a credit card and the next day they deliver it. Delivery fee is
$5.00 but is waived right now if you are a senior. My wife placed
an order yesterday and it will arrive today.




--
This email has been checked for viruses by AVG.
https://www.avg.com