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.
I like your feelings and the tone of your post, but I am very concerned because there are a lot of people in this country who seem like they would be fine with a depression/recession so long as they would gain power, and Trump would go away. This is why every day with a shutdown is one more day in peril. You should be concerned.
We must find a way to restart our economy and coexist as soon as possible.
Yeah, it took around two minutes after “Post” was mashed.
we need to be prepared for the rush when the shackles come off.
too many people chasing too few goods and\or services - like a bazillion people busting through the doors of Walmart when opening on “Black Friday”.
Maybe you could check with a few of the 3.2 million people that filed unemployment claims last week. How much higher will that number go over the next few weeks? We are literally in uncharted territory whether Trump proclaims ‘a quick recovery’ is likely or not.
What, no “you just want Grannie to die for your 401K” hysterics?
Panicky? Remember the Patriot Act with it’s sunset clause that now basks in eternal sunshine? Of course the economy will rebound but at what cost?
Not a small business owner and none among your family, friends or acquaintances I suspect.
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Exactly. I’d wager nearly all the Wu Flu hobbyists have secure incomes, no mortgage, etc. They’re on a jihad and will never change their opinion. Not even when the economic carnage is apparent to even the most obtuse Wu Flu addict.
The media message is about to switch over from:
1) “Trump didn’t do enough and is killing us”
(Nancy is spouting this message right now)
2) It will switch to “Trump did too much and is destroying the economy”
Then, when the economy recovers it will switch again to
3) “Trump sold us all out for his millionaire cronies.”
Bet on it.
That's where you're wrong. I started a family business fifteen years ago. My daughter and her husband run it now. Yes, they are suffering right now. But they too are optimistic about the future. Their business was strong and had loyal customers before it hit. They've been in contact with other local business leaders and are continuing to network. All smart small businesses will see this as an opportunity to rebuild knowing that competitors on the edge are going to have to find another means of income when this is through.
Yup...my son had to lay off 11 employees on Friday...construction related
Smart businesses are planning for exactly that right now...
Trump was criticized when he imposed the early travel ban with China. He is being criticized for wanting to give certain sectors of the Country a plan for getting back to work. Time will prove him right. A leader is someone who does not lead by consensus (Margaret Thacher).
Another voice/opinion BUMP! Good stuff. HOORAY Chief. Bipartisan EVIL is tough to overcome.
I am damn well concerned about it.
On the other hand, I temper this by the concept that the underlying foundations of the economy are good...there isn’t something rotten there, so...it isn’t as if there is something fundamentally bad.
But with every day that goes by, there are small businesses going out of business because they operate so close to the margin.
I am not worried about IBM. I am worried about Joe’s Computer Repair. There are a lot of those.
*Cheesecake Factory just announced it won’t make its April Rent payments for retail locations
*LSC Communications prepared to file Chapter 11
*Frontier Communications about to file Bankruptcy with around $17 billion in debts
*Neiman Marcus is probably close to filing bankruptcy as well
*US National debt projected to be over $30 Trillion by the end of the year
All smart small businesses will see this as an opportunity to rebuild knowing that competitors on the edge are going to have to find another means of income when this is through.
Yep. Warehouse and retail space is going to be dirt cheap. Quality employees available for minimum wage. Lots of “opportunity” ahead.
so families that live in liberal areas (cities) deserve to get financially destroyed? Not only are you a fear monger you are a despicable human being
It will not pick up unless we get back to work soon...
Do you think if all resturants were to open tomorrow..that people will go there like before..half are to scared to go out...
My daugher is scared to death of this..the press is doing a good job...
She keeps telling me to stay home...and I say I need food...she says have it delivered...
And it will be awile before traveling ramps up..
I see a no growth economy for a year...by that I mean growth above what it was in January
That is what I am worried about, see my post above. Not worried about IBM. Worried about small business which employs a LOT of people, and many of them are close to the margin, going month to month.
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