told CNBC on Tuesday that the U.S. could end up in a downward spiral of economic pain if the businesses cannot get back to operating due to the coronavirus.
"If we don't get people back to work and the enterprises back to getting revenues and profits, there is going to be extreme distress in the economy. Small businesses, hotels will go bankrupt. The airlines will go bankrupt," Sternlicht said onSternlicht, founder of investment firm Starwood Capital, said he worries that serious, lasting damage to the U.S. economy could ensue from widespread, permanent business closures.
"Incomes will start to fall, and if they start to fall, housing prices will drop, rents will drop. And it will be a vicious cycle that you won't be able to have enough money in Washington to get out of," Sternlicht said.expected to sayThe comments come as states across the U.S. move to pause or rollback some of their economic reopenings due to a spike in Covid-19 cases and hospitalizations.
Thank goodness some adult would disagree publicly w/the anti-business whiner that CNBC keeps putting on air.
“Money without lives doesn’t work. Lives without money doesn’t work either”NT
There’s already companies going bankrupt left and right. We need to get people back to work and companies generating revenue before things get any worse.
I like that CNBC put this one on Douchbag Democrat Sorkin.
Yeah but the fed can print enough money to buy them all!! No worries.
reality is hospitalizations are increasing and we are seeing more younger patients. Don’t be fooled. ICU beds can be inflated as regular beds are converted to ICU and thus the denominator increased to suggest low occupancy. But health providers, your lifeline, can’t be increased
is sorkin really that stupid...or is it just for show?
Barry likes to go shopping when property gets cheap
See all the lilies in the background? Those are very expensive. And look at his kitchen! I don't think it is responsible to allow youth to infect seniors which is what will happen. Youth may not die but they will infect seniors who will. This dude into money and not lives.
Maybe you are successful business man but in this case you are losing big time. If you don’t contain the virus there will be no revenue, and these low IQ states are really taking all of us and the world to a deep hole.
Well then WEAR YOUR DAMN MASKS PEOPLE! And stop attending mass gatherings and restrict yourselves with social distancing. If you don’t, you’re screwing up AMERICA!
Can’t have your CAKE and eat-in too. Quit with the trumped-up pandemic narratives from Fauci, and the economy may be able to right itself.
And when you get sick you’ll get laid off and huge hospital bill waiting for you when you get out.
$NKLA
I can’t even afford the flowers he has in his vase for decoration. Fuck you Barry. We are coming for you soon.
Is this the goal?
TrumpDepression Duh!
Its a give a take and what you have are extremes on both sides. He's talking about going balls to wall with reopening meanwhile there is long term damage to health and the economy. Some types of businesses will have suffer for the overall health of the public and economy.
Hello? Do you people understand what a pandemic is?
Barry can eat a fat d.
Thank your great leaders for not addressing pandemic properly
Few or no customers tend to have that effect on any business.
Y que le importa eso a un ser que no le importan las personas sino su ganancia personal, sabes a quien le importa a verdadero seres con cerebro y corazón, con amor y sabiduría para actuar, no a los degenerados
Don't u worry. We've got the Fed.
while he sits isolated in his mansion
Extreme distress might be putting it lightly!
We are already here!
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