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Yelp data shows 60% of business closures due to covid are now permanent

heavyiron

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Get Shredded!
Covid is being used to destroy small business

KEY POINTS


  • Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus.
  • As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed, a 23% increase since mid-July.
  • According to Yelp data, permanent closures have reached 97,966, representing 60% of closed businesses that won’t be reopening.

https://www.cnbc.com/2020/09/16/yel...e-coronavirus-pandemic-are-now-permanent.html


 
So much BULLSHIT that will probably end after the election.

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Its going to magically end after the election just watch
 
its fucking sad. politicians (mostly liberal, but not all) don't give too shits about working people in the US
 
So much BULLSHIT that will probably end after the election.

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No, its going to get way worse. Keep in mind these closures are permanent.
 
If Joe gets in office China will own us and he will welcome them in with open arms.


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Oh good kill 60% of small business in service industry so healthy people will not catch a case of the flu.

Glad the government is large and in charge. :(
 
and inflation, I used to pay 15$ at supercuts, last week I paid 25$ the government keeps printing money

Supercuts? Go to Sport Clips.
 
IML Gear Cream!
and inflation, I used to pay 15$ at supercuts, last week I paid 25$ the government keeps printing money

Unless there are radical changes to our economy, in 1 year inflation will decimate us and the world.
 
No, its going to get way worse. Keep in mind these closures are permanent.

Totally agree.

Once you close your doors and lose your business, you just don't magically re-open. People lost their livelihood.

Maybe new businesses will open in their place?? IDK. Will happen but who knows when investors and entrepreneurs take that chance again.

I also think that some of those businesses were already in bad shape and the virus just finished them off. At least a percentage of them.
 
My question is

Going forward, how many people want to start a business with this new normal of shutting everyone down because of the flu?

We are fucked!
 
the USA is being dismantled from within. I passed up buying a gym because of Covid lockdown and the tight restrictions on guns in my state. I had a killer deal on a franchise gym until the lockdown killed the industry. There are several major gyms closed forever in my city alone

We are fucked anyway you slice things, imo, all this was done on purpose, there is no rainbow at the end of the storm. I pray im wrong but it seems to me that the writing is already on the wall.

draining the swamp is/was all bullshit. There are still no charges against all those lousy liberal politicians, and what about comey and the like when does thierbday of reckoning happen?


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as I heard one of the politicians say last February and I forget who it was, quote his exact words "in the end this will separate the rich from the poor"..

all the while everybody's being entertained from the right-wing and the left-wing as if there's a difference.. there is no difference, because the left wing and the right-wing belong to the same bird!
 
the USA is being dismantled from within. I passed up buying a gym because of Covid lockdown and the tight restrictions on guns in my state. I had a killer deal on a franchise gym until the lockdown killed the industry. There are several major gyms closed forever in my city alone

We are fucked anyway you slice things, imo, all this was done on purpose, there is no rainbow at the end of the storm. I pray im wrong but it seems to me that the writing is already on the wall.

draining the swamp is/was all bullshit. There are still no charges against all those lousy liberal politicians, and what about comey and the like when does thierbday of reckoning happen?


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We have to hope our president and conservative leaders right this ship... it’s very possible.

Human nature will dictate just how this plays out.

I think most ppl want to live peacefully and have a nice family. Feel protected.

It’s basic.

At the same time ppl like nice things. Making money etc

But once in awhile you have to squash these sorta uprisings of poor people who want the things you have without the work to get it. Seems easier to them just to take it.

This country has a good system in place.

If needed, peace will be restored forcefully with our military.

Get your shit squared away. Eliminate debt. Have some money set aside. And a storage of food two months so you don’t have to leave your home.

I worry about other countries seeing us as weak and vulnerable and attacking us.


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as I heard one of the politicians say last February and I forget who it was, quote his exact words "in the end this will separate the rich from the poor"..

all the while everybody's being entertained from the right-wing and the left-wing as if there's a difference.. there is no difference, because the left wing and the right-wing belong to the same bird!
The left and the right are literally polar opposites right now.
 
Demturdz to the rescue!!! (Not)
 

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Get Shredded!
We have to hope our president and conservative leaders right this ship... it’s very possible.

Human nature will dictate just how this plays out.

I think most ppl want to live peacefully and have a nice family. Feel protected.

It’s basic.

At the same time ppl like nice things. Making money etc

But once in awhile you have to squash these sorta uprisings of poor people who want the things you have without the work to get it. Seems easier to them just to take it.

This country has a good system in place.

If needed, peace will be restored forcefully with our military.

Get your shit squared away. Eliminate debt. Have some money set aside. And a storage of food two months so you don’t have to leave your home.

I worry about other countries seeing us as weak and vulnerable and attacking us.


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We will see out way through as a society but only as much as we can. The powers the be have to be removed from power, we only look 4 years at a time into the future and thats a problem, imo. I dont have all the answers, but I know that with the powers that be, we are certainly doomed.
 
Financial experts are saying we are already coming out of the recession that began in February.
The fed has injected massive liquidity into the markets. The real damage will be a year or so from now once inflation kicks in. Low rates and huge liquidity is the temp fix to prop up the economy. You can't print and give away this amount of money and not expect it to be worth less once the stimulus is spent.
 
You make a good point heavyiron, printing money from nothing is a recipe for hyper inflation.

Heres another perspective.
1. Property owners are going to lose a lot of money due to closures, there will be concentrated areas with high vacancy and no new business to fill those empty locations
2. counties and cities are raising property taxes due to income losses from covid.
3. Moratoriums on residential evictions are going to effect those property owners as well, higher rent will be needed to cover higher taxes, I cant imagine the matrix needed to configure the future losses. I doubt we will know the full repercussions of this mess until late next year or 2022, assuming we don't close the country again.

All that being said, if a person is in a strong liquid position when the other shoe drops, I think he will be in a good position because real estate will sell at fire sale prices. If a business owner holds a lot of debt he is very likely going to see hard(er) times. I can tell you first hand business credit lines have already (quietly) dried up.
 
You make a good point heavyiron, printing money from nothing is a recipe for hyper inflation.

Heres another perspective.
1. Property owners are going to lose a lot of money due to closures, there will be concentrated areas with high vacancy and no new business to fill those empty locations
2. counties and cities are raising property taxes due to income losses from covid.
3. Moratoriums on residential evictions are going to effect those property owners as well, higher rent will be needed to cover higher taxes, I cant imagine the matrix needed to configure the future losses. I doubt we will know the full repercussions of this mess until late next year or 2022, assuming we don't close the country again.

All that being said, if a person is in a strong liquid position when the other shoe drops, I think he will be in a good position because real estate will sell at fire sale prices. If a business owner holds a lot of debt he is very likely going to see hard(er) times. I can tell you first hand business credit lines have already (quietly) dried up.
Are you in the USA? Liquidity is massive right now and banks are making tons of loans. Are you referring to PPP?
 
there was a new gym here probably less than 2 years old that was privately owned, they were still operating and the city shut them down and fined them $2500 for everyday they are open, drove past yesturday and noticed they put up a fence around it with tarps and I could see people are working out, hopefully those nazi libtards that gotta report bbqs dont call the city on them
 
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