Thread regarding Allscripts layoffs

Real possibility of a depression

If you look around and see how much this virus is impacting our economy, it raises the very real spectre of a depression, not a recession like the talking heads media has been floating. Small businesses will be the first to go under, with restaurants not being able to pay rent and stay afloat. Transportation is slowly coming to a halt and it's only a matter of time before airliners start folding. Large corporations will start making budget cuts, with the weakest like AS going first.

What will happen when all of these workers start collecting unemployment? And social services? And social security? And what happens when our 401Ks become worthless because all of the companies they're connected to are dissolved?

The future is looking pretty grim. Especially since this shutdown is going to last months longer than expected.

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| 1671 views | | 5 replies (last April 9, 2020) | Reply
Post ID: @OP+142zPxri

5 replies (most recent on top)

@yyt+142zPxri
Finally someone with common sense!

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Post ID: @mlrw+142zPxri

Allscripts stock is down to 5 bucks and is rated as ' highly overvalued'. They are done.

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Post ID: @1swr+142zPxri

Apologies, below posted to wrong thread.

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Post ID: @iyx+142zPxri

Knock it off, 401Ks will not be worthless.
This too shall pass; never sell in a down market (or ’crash’ in this case). Now is the time to max-out contributions. EVERYTHING is on sale! And smart associates have a PCRA account in their 401K. 2008-2009 was a windfall for long time horizon investors, so too is 2020.
The folks with valid concern are retirees and those who are <5 years away.

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Post ID: @yqj+142zPxri

While this is not directly related to Allscripts or layoffs from Allscripts I'll answer your question with another question.

There is no logical reason why this particular virus should be causing this level of stupidity, insanity, and outright panic - it's certainly within our capabilities to manage and mitigate the effects and spread of CoVID-19. Right now, against the target population levels we're talking infection rates that average less than 2/1000ths of 1% and lethality rates less than 3/10000ths of 1% of the population(s). Basic hygienic precautions and some "social distancing" are probably going to keep those numbers in the same ballpark for the run of this virus. I think most people with two brain cells to rub together certainly understand the need to help prevent the spread - but it's pretty apparent that approaching the situation with anything resembling deliberative calm and rational actions has gone out the window.

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When are people going to start asking questions of and start getting angry that they've allowed others to create the hysteria that will ultimately destroy more lives than the virus ever will?
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Lives, livelihoods, indeed entire economies are being utterly gutted right now because the much more infectious "mob mentality" has virally infected vast percentages of the population. When the human cost of that is finally assessed a lot of people are going to only have themselves to blame for allowing it to happen. Do you think that most people creating panic and chaos are going to own up to their part in it?

As far as Allscripts goes - well, it's probably just another nail for the coffin lid at this point. At least the "Travel Ban" austerity measure (in place since January) now has a great cover story.

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Post ID: @yyt+142zPxri

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