Posted on 03/30/2020 8:08:30 AM PDT by DouglasKC
Have you noticed something?
There are a growing number of Americans who are in a panic about the economy.
Cries of "the economy will never recover if we're shut down too much longer" abound. Wails about "this will be worse than the great depression if it continues" are flooding social media.
This is despite President Trump's pronouncements that our economy will rebound quickly. President Trump believes that there is pent up demand that will explode once restrictions are lifted.
At least with the corona virus there was good reason to be concerned. It has ripped through other countries causing every government in the world to react in a similar way: institute measures to slow the spread so the medical system isn't overwhelmed. Every government has taken the calculus that doing nothing to combat the virus will hurt their economies in the long term. So they've taken short term economic pain to insure this doesn't happen.
Around the world and especially in the United States this strategy seems to be working so far.
Yet the panicky people who are worrying about the economy often look at the good results of what our government has done so far and say "See!! I told you the virus wasn't so bad!". They want to throw open the doors right now because they are fearful of what will happen with the economy if we don't. They have apocalyptic visions of President Trump presiding over a weak America while liberals gleefully dance on America's grave.
Yet stocks are once again on the rise. Investors are happy with what the President is doing to combat the virus AND for his vision of the economy. This is largely because before the virus broke President Trump had super-charged our economy. We were the strongest economically than perhaps at any other point in history...and we were getting stronger.
What happened with the virus has ONLY worked out in Trump's favor. It's now been proven that his vision of America first was absolutely correct. The virus has shown that we can't be dependent on China for manufacturing. It's not in our national interest. It's shown that we MUST control our borders and clamp down on illegal and legal immigration. President Trump's near daily press conferences have shown the American people that he's not the monster the news media portray him as.
Yet for all these positives those who believe that our economy can't take a two or three month slowdown are wringing their hands and screaming like little girls who have seen a spider.
As President Trump says this isn't going to stop us. We're going to bounce back faster and stronger than anyone can imagine...IF we follow his recommendations to combat the virus. If we let up too soon we're back to square one. If too many people figure they know more than President Trump does and flout his recommendations we're also back to square one.
Don't panic. Stick with the program that President Trump and his team have instituted to both combat the virus and keep the economy strong.
You are living in fantasy land. Maybe when we have 30 million people unemployed by the end of April + another 20 million with hours cut or pay reduced you’ll get it through your thick head, cause that is where this is going.
Well we’re not at 20% yet. Let’s see what happens. I think the economy will bounce back as long as people feel safe going back to work.
Excellent post! No other country can compete with us.
Of course you wouldn't put it that way. But don't try to deny that you said you anticipate profiting in the long run from seeing competitors driven out of business. Implied is that the longer the shutdown goes on, the less competitors will survive.
The effect on the economy looks to me to be caused more by government action than by a natural event, like a flood or drought or hurricane. I suppose though there are times that a government over-reaction could reach the levels of being a disaster. It's pointless to express your anger to a hurricane. If the government actions cause the damage to be a lot worse, it makes sense to be vocal in expressing your disapproval with those actions of the government.
After World War II we were the only country in the world with our infrastructure and industrial capacity intact. THAT was the single biggest reason why we recovered so quickly.
Down 300,000+ here :-(
Hope it comes back....
Oh well, I can live in a shack and browse FR all day and sleep on a cot I suppose.
Hopefully you are prepared for that kind of scenario. If not stock up on canned foods, and other items that may be needed to assist in survival, if you can.
Stay safe my FRiend.
You seriously have no clue. The media/dems WANT this shutdown - they know what is very likely to happen - this will drastically reduce Trump's chance of re-election
Hollywood gets the shaft as well.....big blockblusters planned for the summer will go bust...watch for Hollywood types to start clamoring for the nation to get back to normal so people will again spend money to watch movies where they tear down America.
So you are saying you believe in MMT garbage then? You can’t print wealth or jobs.
What would your reaction be? Shutdown the entire company out of sympathy for our competitors? Don't make plans to come out stronger? Don't forecast the impact on the market? That's all that's happening despite you wanting to make it an evil thing.
Nor do the PC police keep Chris Brown’s “Heat” from the number one spot
OH I didn't even think of that...great point.
LOL the billionaires and money managers LOVES this kind of event! They can buy companies on the cheap after bankruptcy or right before hand.
This, from a "We're all gonna die!" flubot?
Everybody has an opinion, and everyone's an expert. Like many other recently minted 'experts,' you don't seem to understand the difference between Wall Street and Main Street.
Main Street businesses aren't listed on the NYSE.
I'm guessing the plan is for the government to hire people to pick money off the money trees. I'm pretty sure that's where money comes from.
I think Trump is smarter than that. I think this will all be over two or three months before the election and everyone KNOWS this wasn't trump's fault so even if the economy is horrible Trump can say "I saved the country from this virus. I told you what would happen if we let China push us around. I told you what would happen if we let people come over the borders unrestricted. I tried to stop this but was fought by the democrats tooth and nail every step of the way. This was THEIR virus and their economic ruin brought about by their obstruction and their policies.
It's a real easy point to make because it's all true.
The Congress is to blame for setting up US Tax Law such that it was more tax-advantaged to fund US businesses wtih debt than with stock purchases.
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