#Swoopprez Out!

[TG]

You’re right, let me clarify.
We could live years with 0 income. The gov benefits help just that much more.

I'm happy for you but it is far for being the norm, able to live years with 0 income.

On a side note, there is this possibility that airlines might be ordered to fill only one seat out of two post lockdown (not talking specifically about Canada but they could follow suit) This trying to curb playing virus ping pong between countries.

Flying at half capacity for a few months or more will mean raising fares big times..

[fishface]

You’re right and I wasn’t trying to be our sound like “that guy”.
I’m just eager to contribute to the economy and make what little difference I can when things open up.

We will see what restrictions are imposed on the airlines when we get out of it.
In this day and age with all the technology/smartphones etc. Where it’s instant info and you can pick and choose what you want to see and stuff, I think this virus thing will be out of sight, out of mind.
The hype may be gone just as fast as it showed up. H1N1 didn’t collapse the world economy in 2009 (ok, the world wasn’t doing great anyway but still, the world didn’t come to a standstill) and I think it’s the media hype nowadays that is to blame for this large scale panic so to speak. Not trying to downplay the Coronavirus but I think it’s blown a little bit out of proportion.
The swine flu infected between 700mil and 1.2bil people, deaths estimated as high as 575k. We weren’t grounding airlines back then and businesses weren’t closing!

[BTD]

Extrapolate the data we have so far for covid 19 and compare it to the swine flu of 2009.

Currently over 2 million known cases compared to 130 000 deaths for covid. If we get were to get up to 700 million cases worldwide, that would be 45 million deaths. Obviously not all cases are reported or confirmed. Increase known cases by a factor of 10 but still with 130 000 deaths means 4.7 million deaths when extrapolated out. And that’s taking the low estimates for death rates in 2009.

This is worse.

[fishface]

For sure! I don’t want to downplay it too much but I still think the worldwide reaction is a little blown out of proportion.

We’re already seeing small victories though.

5% critical rate down to 4%.
Of the cases that had an outcome we went from 22% death to 21% and steady at 21 for a week or so now (when it was going up a percent every day or 2 for a while there).

Iran - which was the hotspot before Italy was - they’re active cases are actually in net decline
China and S Korea - net decline
Italy and Spain - finally flattening out
Germany, Switzerland and Austria - net decline
France will end the lockdown May 11th

Progress is being made on the hydroxychloroquine front.

I’m trying to find the balance between optimism and realism - it’s tough!

[BTD]

Agreed.

It may be necessary to start opening things again in short order, as other parts of the world are starting to. But the mitigation efforts thus far have allowed us to learn about the virus and medical protocols needed, as well as begin to manufacture more of the necessary supplies needed to manage the situation that will present itself (whatever it may be) when we start to ramp up again.

Like hitting a pause button to organize the paperwork before an audit.

[fish4life]

Correct me if I'm wrong...

Low Cost Carriers depend on densification to keep fares down.

Who in their right mind wants to be crammed in a plane right now?

Prove me wrong but I see air travel being for the wealthy in the short to medium term.

We are years away from having this virus to a level where people are willing to be crammed together.

Hope I'm wrong but things have changed, dramatically

I’m pretty sure only if there was a government stipulation stating that there had to be a gap between passengers that this would be an issue.

With the cerb and possible mortgage delayed payments there’s a lot of people who won’t be any worse of financially than if they’d been working.


They’re going to want to fly places as soon as possible.

Wrong and wrong.
Delayed mortgages still need to be paid.
Do you have a vehicle payment?
Do you need to eat?
Is your credit card paid up?
Do you like heat and lights in your house?
Will you pay your property tax or fly somewhere as soon possible?
Will you pay your vehicle and or home insurance or fly somewhere as soon as possible?

Actually delayed mortgages do need to be paid but for a lot of people that will not have much effect on their monthly payments as the interest they missed paying just gets tacked onto the principal so it’s actually a very small payment increase over 20 years if they have that left.
Vehicle payments can actually also be deferred right now and depending on who your with Ford Credit as an example is actually covering 3 payments
If your credit card isn’t paid up most banks are also offering deferrals on that as well as reducing the interest rate to closer to 10% from the 20+% they are paying now.
Municipalities are allowing property tax deferrals by the sounds of it
The one big factor in this whole slowdown is although money coming in has slowed down, money going out has also fallen off a cliff from no extra curricular activities like concerts, sporting events, restaurants.

I think this will take some time to recover but overall the cash flow issues aren’t terrible

[goldeneagle]

Progress is being made on the hydroxychloroquine front.

Right up until the heart attack problem showed itself. Numerous countries have backed away from that stuff over the last couple days because of the heart problems it's triggering.

[Launchpad1]

Wrong and wrong.
Delayed mortgages still need to be paid.
Do you have a vehicle payment?
Do you need to eat?
Is your credit card paid up?
Do you like heat and lights in your house?
Will you pay your property tax or fly somewhere as soon possible?
Will you pay your vehicle and or home insurance or fly somewhere as soon as possible?

Ok firstly yes mortgages still need to be paid but if you take a mortgage deferral you pay it at the end of the mortgage not right away. Wouldn't be much point to it otherwise would there. Or maybe you think someone isn’t going to go on vacation because they’ll have to pay a bit more on their mortgage in 20 years?

Secondly I’m guessing maybe you make a decent salary (and good on you if you do) and maybe you don’t understand that for most people $2000 a month plus not paying your mortgage means they’re not going to be worse off than they normally are.

[fishface]

Progress is being made on the hydroxychloroquine front.

Right up until the heart attack problem showed itself. Numerous countries have backed away from that stuff over the last couple days because of the heart problems it's triggering.

Fair enough. I have to admit I haven’t been following that topic in recent days. All I know is there was a French doctor who was leading the charge on it, France tried to quiet him down but the public support of this guy made the French gov give in and now they’ve actively started seriously looking into it to treat covid. Maybe that’s changed though!
His name is Didier Raoult.

[sjatana]

Wrong and wrong.
Delayed mortgages still need to be paid.
Do you have a vehicle payment?
Do you need to eat?
Is your credit card paid up?
Do you like heat and lights in your house?
Will you pay your property tax or fly somewhere as soon possible?
Will you pay your vehicle and or home insurance or fly somewhere as soon as possible?

Ok firstly yes mortgages still need to be paid but if you take a mortgage deferral you pay it at the end of the mortgage not right away. Wouldn't be much point to it otherwise would there. Or maybe you think someone isn’t going to go on vacation because they’ll have to pay a bit more on their mortgage in 20 years?

Secondly I’m guessing maybe you make a decent salary (and good on you if you do) and maybe you don’t understand that for most people $2000 a month plus not paying your mortgage means they’re not going to be worse off than they normally are.

I did not utilize the mortgage payment deferral program offered by banks even though I qualified for the 6 months. You end up paying more out of pocket. Anyone who takes advantage of it really has to because of their personal financial situation and no judgement there. We have to do what we have to do to survive. I doubt someone who has done their research on the mortgage deferral program is opting for it just to have disposable income to go travelling...