I'm not. It doesn't take an economist to notice that 30% unemployment and a 28% drop in GDP will create a huge budget shortfall.
Unemployment
- Thread starter URedskin54
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I'm not. It doesn't take an economist to notice that 30% unemployment and a 28% drop in GDP will create a huge budget shortfall.
I have to be careful how I word this. Why would the Fed want to lower the interest on US Debt? To whom is that debt owed? Think... you’re almost there.
You see, this is why nobody argues with you, with factual responses to your bogus conspiratorial replies. They school you as I just did, and you come back with more conspiracy as a response.
There is no way for you to lose an argument in your own head. Conspiracists will never admit defeat.
And when this is all over, you will have some comeback or evasion of the point as to why we are not at war with the Chinese, as you bogusly predicted. Or any of the other false and completely irrational predictions you make that never come true, none of them will allow you to admit defeat. You are an idiot narcissist who cannot keep from feeling superior to others, in his inferiority, of the worst kind. You are so unself-aware that it is amusing. People literally laugh out loud at your lack of understanding. You are so like Trump in this sad trait sharing respect. He won't ever admit being wrong either.
You don't even realize that most of the posters on this board either ignore you, or have you on 'ignore', and never see what you say. Most posters think you are not even worth an response because they don't think crackpots(nicer word) are worth their time. I just find it amusing to get you to go off for eighty thousand word posts with a more normally short response than this. Most just wish you'd go away, or send you away by putting you on ignore.
6.6 million new unemployment claims this week bringing our rate up to 13%-14%. During the Great Depression we didn't reach this number until 1931 during the Dust Bowl.
https://www.cnbc.com/2020/04/09/weekly-jobless-claims-report.html
https://www.cnbc.com/2020/04/09/weekly-jobless-claims-report.html
I feel weird "liking" this, but it is important. This is going to get bad. I am really not sure why the stock market has been rebounding lately, other than perhaps the big players have already sold and it is trading high on lower volume. I.E., a sucker's rally.
Stock market looks six months ahead. I assume they see the reduction in the projected number of deaths and the models showing this should be out of here by late May / early June. Improving outcomes and models equal more optimism and more importantly for investors ... more certainty.
At least this is my semi educated guess. I’m much better with economics and business than science
Possible. I would contend the following:
a) It almost doesn't matter how many people die. If it is 40,000, 60,000, or 200,000, we are all still inside not spending much money and small businesses are strangled.
b) I don't think the damage that has already been wrought is priced in yet. If by some miracle we found a cure tomorrow and could start opening things back up at the end of the month, I think there are still too many people who simply aren't getting their jobs back and too many small businesses that will not re-open. I was talking to a restaurant owner here in town, and she told me they already had to close their Santa Fe location permanently. I am sure there are tons of other places that are already gone for good.
Yeah, the only reason I post it every week is that I think it needs to be seriously considered when we think about striking the right balance between prevention and living relatively normal lives. There is a large human cost in suffering and sometimes death that will come with initiating a depression. I'm not sure if it's because the effects are delayed or because people think that we can take care of everyone (even the scandinavian countries are saying they can't), but it doesn't seem like a lot of people are really absorbing how bad it could get.
I believe most educated and reasonable people understand that there's a time limit (no clue what that is btw) which the country can be shut down before you have long term damage which cannot be readily repaired. Damage which will lead to starvation here and across the globe for those who depend on our charity. There's a limit to the amount of money we can print. We've seen what occurs when countries print money during economic downturns. There suppose "cure" is almost always worse than the ailment.
Judging by my social media feeds I'd put most of my friends in the educated and unreasonable category right now. They're very much of the belief that this is purely a question of $ vs lives rather than lives vs lives. The questions of how this impacts healthcare capacity(it is declining right now), the opioid epidemic, the poor(both domestically and globally), the mentally ill, domestic violence, etc. don't really seem to be hitting anyone yet.
That describes a lot of my younger idealistic friends. They don't understand there is a point of no return on the economic side. A point which will cause extended pain and loss of life the likes we haven't seen in almost 100 years.
I distinctly remember some folks on this board arguing that charities, churches, etc... were superior distributors of resources to those in need during times like these (economic collapses). Looks like you were wrong.
Yeah the government can't handle it, and the churches can't handle it.
So that definitely says the churches are inferior.
So that definitely says the churches are inferior.
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I can remember posters who supported the Fed’s running our entire healthcare system (me) and the truth apparently is that they can’t even develop tests which work when we needed them most. Thankfully they get bailed out by the private sector.
It's not like the private sector will cease to exist if the fed controls the healthcare industry. In fact, the private sector seems to do VERY well in one major industry that the fed controls.... military spending. The tests for this virus weren't hand-me-downs from Obama. They were developed after the virus had showed up. They were just done wrong and the fed wouldn't allow private testing facilities to test for the virus. It's a failure on the part of the CDC / the people controlling the CDC, but I would say it's something we will learn from.
There's going to be waste in any industry. At least in the case of the department of defense, while yes it does have a ton of waste, we have a vote to say how those funds are spent. You don't get to vote if your local hospital wastes money or not.
We have no real vote. Those decisions are made by politicians who have been bought and paid for. This has been going on for decades. To suggest health care would be any different (especially after seeing what occurred with the ACA) is pure fantasy.
I agree. That's currently how the system operates. But that's why we need to fix the system. Not only for healthcare, but for defense, infrastructure, business, and everything else the government has its hand in.
Agree. The obvious problem is that both parties benefit from the current system thus neither have any incentive to change the same.
True. Which is why the base of both parties need to start advocating for more regulation on campaign finance. Right now, only one party is and they're doing it half-heartedly.
Conflict of interest: There are charities that get money from the government, and then contribute to political campaigns.
Arm twisting: Groups like unions contribute to campaigns while not all its member support that candidate.
Arm twisting: Groups like unions contribute to campaigns while not all its member support that candidate.
Bigger arm twisting: The nation's biggest companies fight voluntary union formation with the dirtiest of tactics then lobby the government to give the company more protections and to promote the political resistance of wage increases and the employees have zero say that some of the money they're getting shafted out of is going to pay off their own federal representatives to keep the workers subservient. All while making the founders richer and richer. (Walmart, Amazon, etc...)
Im discussing campaign finance, not the pros and cons of unions or big business.
TERM LIMITS!!!!
true they are the same when it comes to campaign finance. They both bribe and intimidate candidates.
TERM LIMITS
Hell hath begun to burn, cuz once in a green moon I agree with aTUfan.
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I'm glad you said it...I was about to. Send 'em all to a church service in Trump Tower.
An additional 5.2 million unemployed this week, which means we're likely at 17-18% unemployment. We reached that rate in 1932 during the Great Depression.
