[GhostOfRobFord]

Today was the slowest day yet on Eats. April 1 so I get the feeling a lot of people were thinking about paying bills and not about ordering food. I have been thinking about this over the past few weeks doing Eats deliveries. Restos are not getting much business at all. Skip, Eats are pretty slow. Drive thrus are seeing some lineups but it doesn't compare to the foot traffic they used to see. Most locations when you go in to pick up the food have one, maybe two people working and hardly any orders. Tonight I noticed several locations I usually get orders for got nothing and when driving by, saw they had closed at 8pm I guess due to low business. Are we going to start seeing restos close up shop one by one in the coming days? Sure seems like it.

 

[Uberchampion]

I hate to say, but I think a lot of restaurants are going to close. I think the reality of the dwindling economy has started to hit a lot of people. In the short term, business is very slow because of the shutdown for Coronavirus , in the long-term... People are going to change the way they spend money either out of common sense or necessity. If anything has been learned through this entire experience, it's that you will not starve if you have a working oven, some groceries and access to YouTube

Ps. We have not even began to see the Bloodshed that's going to occur in the employment markets over the next 6 months. All of those who make a substantial amount of their income from the gig economy are going to find themselves in very Dire Straits. For the record, this includes me.

People who are not working, don't take Uber... People who are not working, become Uber drivers...

Ps. CERB and EI do not provide a living wage. A lot of people NEED to change their relationship with money.

 

[hooj]

I hate to say, but I think a lot of restaurants are going to close. I think the reality of the dwindling economy has started to hit a lot of people. In the short term, business is very slow because of the shutdown for Coronavirus , in the long-term... People are going to change the way they spend money either out of common sense or necessity. If anything has been learned through this entire experience, it's that you will not starve if you have a working oven, some groceries and access to YouTube

Ps. We have not even began to see the Bloodshed that's going to occur in the employment markets over the next 6 months. All of those who make a substantial amount of their income from the gig economy are going to find themselves in very Dire Straits. For the record, this includes me.

People who are not working, don't take Uber... People who are not working, become Uber drivers...

Ps. CERB and EI do not provide a living wage. A lot of people NEED to change their relationship with money.

Good points here. A lot of people are going to be in tough spots in the coming weeks if this stays status quo with nothing being open.

Not sure about others but at $2000 per month, as a homeowner with a 4 person household - I could ride this out until the end of the year without using that much savings.

Not sure about everyone's individual case on here but if you've got nothing stored away and $2000 per month is not enough to get by - well - When things pass and get better, those folks should really look hard at their lifestyle, choices and mentality when it comes to finances and more.

I wish no ill will towards anyone, and neither am I pointing blame or the finger at anyone for how they live their life (unlike some folks on here) but damn, if this don't kick people in the pants and wake them up, nothing will.

Good luck to all.

 

[dmoney155]

...

Not sure about everyone's individual case on here but if you've got nothing stored away and $2000 per month is not enough to get by - well - When things pass and get better, those folks should really look hard at their lifestyle, choices and mentality when it comes to finances and more.
....

A decade or so of no issues does that to a person. I'm sure after 2008, or even after a job loss in general, people save and whatnot... but over long time, they get lazy with it or even think it is no longer required, or something comes up and they dip into the emergency fund never replenishing it.... and then BAM something happens.

 

[hooj]

A decade or so of no issues does that to a person. I'm sure after 2008, or even after a job loss in general, people save and whatnot... but over long time, they get lazy with it or even think it is no longer required, or something comes up and they dip into the emergency fund never replenishing it.... and then BAM something happens.

Very true. I found 2008 didn't really hit me at all - but I wasn't into investing at that time. My FT job is very recession-proof (except for COVID!) bit otherwise 2008 was a solid year! I think we got a signing bonus and raises while jobs were shed all over.

Toured California for 5 weeks in March of 2009 for under $1500 with my future wife. Week in Vegas, car rental from San Diego to San Francisco and back to LV.

That recession was nice: this one? Very odd.

 

[MUGATS]

A

Good points here. A lot of people are going to be in tough spots in the coming weeks if this stays status quo with nothing being open.

Not sure about others but at $2000 per month, as a homeowner with a 4 person household - I could ride this out until the end of the year without using that much savings.

Not sure about everyone's individual case on here but if you've got nothing stored away and $2000 per month is not enough to get by - well - When things pass and get better, those folks should really look hard at their lifestyle, choices and mentality when it comes to finances and more.

I wish no ill will towards anyone, and neither am I pointing blame or the finger at anyone for how they live their life (unlike some folks on here) but damn, if this don't kick people in the pants and wake them up, nothing will.

Good luck to all.

$2000 a month doesn't even cover a medium sized mortgage in the GTA. It isn't about people living beyond their means, it about excessive housing costs.

Let's not blame people for just playing the cards they are dealt.

If they're renting the cost is similar as well. I mean the entire saving economy is predicated on people pumping money into their home as a savings device and RRSPs to reduce income.

Just because people don't have money for 6 months of living doesn't denote irresponsibility

 

[Uberchampion]

Very true. I found 2008 didn't really hit me at all - but I wasn't into investing at that time. My FT job is very recession-proof (except for COVID!) bit otherwise 2008 was a solid year! I think we got a signing bonus and raises while jobs were shed all over.

Toured California for 5 weeks in March of 2009 for under $1500 with my future wife. Week in Vegas, car rental from San Diego to San Francisco and back to LV.

That recession was nice: this one? Very odd.

Are you a stripper @hooj? 😀

If your company is hiring please pm me.

 

[GhostOfRobFord]

 

[Kurt Halfyard]

Very true. I found 2008 didn't really hit me at all - but I wasn't into investing at that time. My FT job is very recession-proof (except for COVID!) bit otherwise 2008 was a solid year! I think we got a signing bonus and raises while jobs were shed all over.

Toured California for 5 weeks in March of 2009 for under $1500 with my future wife. Week in Vegas, car rental from San Diego to San Francisco and back to LV.

That recession was nice: this one? Very odd.

It helped that the Canadian Dollar was 1:1 during that period.

View attachment 441494

Damn. Their menu was good here. Creme Brulee was amazing. Stay Strong Roncesvalles!

 

[phreeradical]

Very true. I found 2008 didn't really hit me at all - but I wasn't into investing at that time. My FT job is very recession-proof (except for COVID!) bit otherwise 2008 was a solid year! I think we got a signing bonus and raises while jobs were shed all over.

Toured California for 5 weeks in March of 2009 for under $1500 with my future wife. Week in Vegas, car rental from San Diego to San Francisco and back to LV.

That recession was nice: this one? Very odd.

My flight to Belize was $88 that year!:coolio:

 

[Kurt Halfyard]

Let's not blame people for just playing the cards they are dealt.

Just because people don't have money for 6 months of living doesn't denote irresponsibility

But society expectations (and consumption propping up the economy) have been set to 'irresponsible' for the last 30 years. Perhaps 40 years. I am not blaming individuals, but Canadian Fiscal CommonSense has been broken for decades, and low interest rates have turned even good businesses and households into credit-junkies. Now as the cliche goes, the chickens have come home to roost.

(Of course, I say this as a person of fairly good means who lives, from a bills, consumption, and real-estate point of view, WELL WELL WELL below my means. I grew up 'poor' (canadian poor, not global poor) so not living beyond my means was ingrained in me from birth.

 

[persons]

anyone who has 20k+ in the bank to ride this off like its nothing either has 4 kids with no real social life other than family or must be really cheap and be like 50+ years old

real talk right here, ya see alot of us given, if we do have 20k sitting around would likely have already used it on a mortgage/loan and on top of that be paying it off for then next 20-30 years so having another 20k cash lying around is pretty amazing. Or you can call me a bum.

 

[13210]

anyone who has 20k+ in the bank to ride this off like its nothing either has 4 kids with no real social life other than family or must be really cheap and be like 50+ years old

real talk right here, ya see alot of us given, if we do have 20k sitting around would likely have already used it on a mortgage/loan and on top of that be paying it off for then next 20-30 years so having another 20k cash lying around is pretty amazing. Or you can call me a bum.

Can someone translate this for me? :confusion:

 

[Uberchampion]

But society expectations (and consumption propping up the economy) have been set to 'irresponsible' for the last 30 years. Perhaps 40 years. I am not blaming individuals, but Canadian Fiscal CommonSense has been broken for decades, and low interest rates have turned even good businesses and households into credit-junkies. Now as the cliche goes, the chickens have come home to roost.

(Of course, I say this as a person of fairly good means who lives, from a bills, consumption, and real-estate point of view, WELL WELL WELL below my means. I grew up 'poor' (canadian poor, not global poor) so not living beyond my means was ingrained in me from birth.

The fact that I grew up poor screwed me. I transitioned from a high six figure job to an Uber driver without a moments hesitation. I never even knew there was a stigma around it until I went to an event with old coworkers and there was a pause when I told them what I was doing.

If I had grown up rich I wouldn't have ever thought of doing this gig.

 

[persons]

Can someone translate this for me? :confusion:

thats in reply to the guy who can ride it off at 2k a month for the year like its nothing

 

[la pulga]

View attachment 441494

cp24 is reporting that 1 in 10 restaurants are going to be permanently closed in Canada due to Covid-19. Bars are going to take the biggest hit. they make most of the money from people dining in.

 

[Uberchampion]

cp24 is reporting that in 1 in 10 restaurants are going to be permanently closed in Canada due to Covid-19. Bars are going to take the biggest hit. they make most of the money from people dining in.

That seems optimistic tbh

 

[mikees3]

Can someone translate this for me? :confusion:

millennial talk 😬

I never even knew there was a stigma around it until I went to an event with old coworkers and there was a pause when I told them what I was doing.

yah it's mad awkward when I pick up pax in my age group and they're like why are you driving for uber 😢

 

[hooj]

Are you a stripper @hooj? 😀

If your company is hiring please pm me.

My company is always hiring. Just not right now they're not. They've shut down all operations across Canada. No stripping involved.

 

[Kurt Halfyard]

anyone who has 20k+ in the bank to ride this off like its nothing either has 4 kids with no real social life other than family or must be really cheap and be like 50+ years old

real talk right here, ya see alot of us given, if we do have 20k sitting around would likely have already used it on a mortgage/loan and on top of that be paying it off for then next 20-30 years so having another 20k cash lying around is pretty amazing. Or you can call me a bum.

Ridiculous generalization there. There is a wide variety of financial and familial situations.