Economy Panic

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[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.

[John W]

He himself said yesterday the certain sectors idea was nixed by the doctors. Wish he would have put the docs at the mic to explain why.

[lodi90]

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”.

---

You are dreaming. Consumer wallets are going to be clamped shut for the quite some time. Who buys a $50k truck or house when you can’t even buy TP? Consumer confidence is gone and no amount of happy talk will change that fact.

[DouglasKC]

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.

I've been blessed to be able to work from home. I have lost almost half of my income (derived from a family business). I do have a mortgage but as fate would have it I closed on refinance just before the SHTF and don't have to make a payment until May. I bought a bunch of food before it all went down so I don't have to pay for food for 3 or 4 months if I don't want to. I have toilet paper for 5 months. I'm saving money by not going out to eat two or three times a week. I've redone my budget to reflect less income.

There is literally nothing else that is within my power to do. I could go clutching my pearls and crying about the future OR I can believe that President Trump has a plan and is sticking to it.

[sphinx]

How many small businesses will survive a couple of months shuttered? How many tens of millions of jobs depend on those businesses? How many tens of millions of people will fall seriously behind on their mortgages or slide into crippling debt?

[tatown]

It’s much more than that. How many people are going to rush out to eat and shop if the unemployment rate is hovering around 20%? This shit will not unwind quickly and every single day that the American economy is held hostage to the hysteria of this stupid virus the worse it is going to get. The fearpers are reaping what they sewed.

[Kalija]

IMHO Aristotle was right...

The ancient Greek physician Hippocrates believed a womb was essentially an “animal within an animal,” that it wandered throughout a woman’s body and caused illnesses. Doctors prescribed many different remedies in an attempt to “lure” the uterus back to its seat. The theory that women could not keep their uteruses in place — and thus keep them “tamed” — was used by the philosopher Aristotle to justify why women were unfit to partake in politics.
The word for “uterus” is derived from the Greek root hystera, hence a surgery to remove the uterus is called a “hysterectomy.” The root hystera also appears in the words “hysteria” and “hysterical,” which, characterized by anxiety, irritability, and ungovernable emotional excess, were historically thought to manifest themselves only in women.

[Yogafist]

My sons company is slowly laying people off, and telling them they don’t know when or if they will be able to bring them back when this is over. How does an economy take off when a large segment is out of work and broke?

[DouglasKC]

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

And you're rude. My point was that this will show that liberal policies do not work.

[Alberta's Child]

I honestly think you have it backwards. I haven’t panicked at all when it comes to the viral outbreak, but I believe the economic consequences will be devastating because the response of the American citizenry has given me no reason to be confident in the future of this country anymore.

[lodi90]

I expect a lot of mom & pop restaurants will shut down now since POTUS has made it clear this will drag on into May/June. No reason to keep the lights on for meager take out orders.

[DannyTN]

"Do we really have an economy right now?"

I'm still working just from home. I understand 60% of Americans are able to work from home.

I went to the grocery store yesterday, with a mask on. I went to walmart last week.

I ordered a PC charging cable from amazon last night. I bought some steam games yesterday.

I haven't bought Chinese food from the local Chinese restaurant since Dec.

[DouglasKC]

The ancient Greek physician Hippocrates believed a womb was essentially an “animal within an animal,” that it wandered throughout a woman’s body and caused illnesses. Doctors prescribed many different remedies in an attempt to “lure” the uterus back to its seat. The theory that women could not keep their uteruses in place — and thus keep them “tamed” — was used by the philosopher Aristotle to justify why women were unfit to partake in politics. The word for “uterus” is derived from the Greek root hystera, hence a surgery to remove the uterus is called a “hysterectomy.” The root hystera also appears in the words “hysteria” and “hysterical,” which, characterized by anxiety, irritability, and ungovernable emotional excess, were historically thought to manifest themselves only in women.

I did not know any of that. Thanks for the fascinating lesson.

[PGalt]

So we can add to our list of grievances against THEM let’s record the names of who voted for this latest plunder...oh...wait...

https://www.youtube.com/watch?v=eGwtXfIH3bc

535++++ vs 330 MILLION (how da do dat?)

[Leep]

Mostly agree..but watch for falling prices on non-essential items..and i mean falling prices.

[tatown]

And 3.2 million of your fellow Americans received a pink slip just last week alone. Maybe you can tell them how great things are for you.

[Robert DeLong]

If all depends on your current economic situation and what job you had prior to the shutdowns from SARS Covid2 concerns.

In addition what your situation is during the shutdown process.

My family has enough financial reserves to carry us maybe 4 months, if I had to rely solely on those funds. Fortunately I ma still earning a paycheck, as is my wife also. I am able to work from home, while my wife has to physically appear at her place of employment.

If one or both of us were unable to keep our income stream, then our outlook would obviously be one of more concern.

Lastly, the type of business you make your income from plays a big role also. If it is a restaurant, for example, then after the virus is under control you may have no where to return to, to reopen your personal income stream.

So panic regarding income seems more likely and even understandable, then the panic that ensued due to the virus.

[RegulatorCountry]

Yup. Retail especially.

[DouglasKC]

How many small businesses will survive a couple of months shuttered? How many tens of millions of jobs depend on those businesses? How many tens of millions of people will fall seriously behind on their mortgages or slide into crippling debt?

I have no idea. But everyone is in the same boat. How long did it take the country to recover from World War 2? That was a multi year event that had a much bigger economic impact than this virus has so far.

[going hot]

You can still order Chinese food to go.

Just be sure to instruct them to hold the bat.

[Lou L]

Bet on it.

I firmly believe that even if one patient dies after the President loosens any restrictions, the media will clutch their pearl necklaces and scream with indignation: "Can you believe it? TRUMP killed them!"