Posted on 12/20/2020 6:52:52 AM PST by Onthebrink
While the U.S. Congress seems likely to push through a massive $900 billion stimulus plan as soon as today, researchers are starting to crunch the numbers when it comes to the total damage done to the U.S. economy due to the COVID-19 outbreak.
For example, according to a new study conducted by researchers at the University of Southern California, the U.S. economy lost between $3.2 trillion and $4.8 trillion in real gross domestic product (GDP) over the course of two years.
(Excerpt) Read more at 19fortyfive.com ...
I wonder if the researchers will break down the GDP losses by category and by state?
Stealing elections costs a lot of money!
The article should separate the impact of the virus from the impact of lockdowns and other decrees, so that we are clear on the difference between the harms of a disease and the harms of government.
Then again, straw men are part and parcel of today’s gaslight media.
I stopped reading right there.
We have been quite spoiled the past four years.
The Obama years on steroids, economically speaking, are about to start.
China owns a little over $1 trillion in U.S. Treasury bonds. And I’m sure China owns huge amounts of debt issued by other countries as well.
It would be nice if some international court fined China for causing the pandemic, and allowed all those countries to cancel the debt.
I’m forced to say “international court” because I fear no country - including the U.S. - has the courage to do it on their own.
(And yes, I know I’m dreaming here.)
China used internet troll ‘army’ to shape coronavirus narrative: (How many fake news trolls and diversion trolls were controlled by the Chicoms?)
report:
China’s propaganda and censorship operation is unmatched by any other nation in the world, a university researcher claims:
News about the coronavirus-related death of a Chinese doctor who had warned the public about the virus set off a massive propaganda and censorship effort to help the Chinese government regain control of the narrative inside the country about the rapidly growing crisis, according to a report.
The response to the Feb. 7 death of Dr. Li Wenliang and other events during the early days of the virus outbreak are outlined in leaked documents reviewed by ProPublica and the New York Times in a jointly produced article that was published Saturday.
Two main objectives of the Chinese government’s effort appeared to be making the virus impact seem less severe and making government officials appear to have a firmer grip on controlling the outbreak than they actually did, the report said.
China’s censors were worried that news about Wenliang’s death would set off a “butterfly effect” of subsequent news stories about the virus that could be damaging for the government, so they ordered news outlets not to promote stories about Wenliang and instructed social media sites to remove his name from lists of trending topics, the report said.
The censors also hired internet trolls to post “distracting chatter” on the internet to help influence public opinion as the coronavirus gradually became a bigger news story.
The Chinese government also ordered security personnel to silence commentators whose views were not aligned with those of the government, according to the report.
Excerpted: https://www.foxnews.com/world/china-used-internet-troll-army-to-shape-coronavirus-narrative-report
“aggressive virus containment measures”
Like welding apartment doors so people couldn’t get out.
5 Trillion? No biggie, start up the printing press.
Republican Free Traitors must have to have a come to Jesus moment and admit any possible economic advantage gained over the decades, decades of US worker misery, of offshoring and so called free trade was completely wiped out in 2020.
Wow, we “saved” so much embracing GLOBULLISM, offshoring to China and the third world and look; it only costed $5T. What a deal!! More legal immigration! Yes sirreee, that is what we need now. /SARC
The dems took full advantage of it by creating chaos and blaming it all on Trump.
Better to die standing than to live on your knees
Unfortunately many do not believe that any more and are willing to sell out everything to get 'what they are entitled to'.
Please sir, may I have another?
It's clear that our elected officials are not elected at all - they have been selected by outsiders that mean to take us down. A legislative branch will not right the wrong anymore than the judicial branch did. Our government has failed and will collapse unless the Executive Branch steps up to save the Republic.
I cannot get that damned REM song out of my head...
It's The End Of The World As We Know It
It's The End Of The World As We Know It
It's The End Of The World As We Know It (And I Feel Fine)
We still need a full and accurate accounting, state by state, and event by event, irrespective of other nations problems.
The BEA produces the raw economic data at that level of granularity. For example, the real GDP at the end of 2019 was $21,747.4bn. If you grow that at a 3% annual rate over 3 quarters you'd get $23,234.9bn, which is $1,077.8bn more than our actual 3rd Quarter real GDP.
Rinse and repeat at the state level and we can see the winners and losers.
Btw, this also means if the stimulus was $2t and we are $1t behind in real GDP, the numeric cost of this pandemic is about $3t...I guess that's not as sensational as $5t.
I don’t need a “woke economist” to do anything for me!
What I DO need is an analysis of the effect of the Chinese Communist Coronavirus on the economy of EACH state.
You know where my question is leading, don’t you?
There, I fixed it!
They could fine china but the United States wouldn’t get a dime. We don’t recognize them or at least a part of it.
We should NEVER have shut down ANYTHING because of COVID-19 and simply allowed the virus to run its course and deal with it just like the 1968-70 Hong Kong flu and 2008 SARS.
If we allowed nature to deal with it, let our immune systems do its job, used personal judgement, and monitored the most vulnerable... the mortality/infection rates would have been not much different than the yearly flu stats!
Did anyone suggest shutting down the highways, the car dealerships, the factories and restrict driving because the vehicle death rate was over 40,000/yr and serious crash injury close to 4.5 million/yr? (2019 NSC data)
CDC USA FastStats Data/yr.
170k+ deaths/yr by accidents, automobiles, falls, poisonings
50-60k+ deaths/yr by influenza
1.6 mil+ deaths/yr from cigarettes/alcohol/obesity/drug abuse
7.1 million will die from old age, natural causes, suicide, homicides, and natural catastrophes.
Yes! Where is our life saving politicians to stop the slaughter of innocent lives from all these preventable deaths!
We must stop sun bathing! We must stop car, cigarette, alcohol, drug and hamburger manufacture/sales to combat the 1.6 million+ deaths/yr from car accidents/cigarettes/alcohol/obesity/cancer and drug abuse?!
All these deaths can be prevented if we just had the right guy in the White House! Orange Man Bad! Oh, the HUMANITY!
But now we have that right guy and it is Joe Biden! He has been sent to us from on high and he will save us all! He is our God! He will prevent death by stopping all murders, suicides, accidents, and dying by passing Universal Health Care for all! And he will make everyone immortal!
GOVERNMENT SAVE US!
Joe Biden and a team of scientists have figured out that your death is preventable. When Joe becomes president, his first executive act will be to implement the most aggressive and ambitious life-saving program ever attempted in human history! This act will require everyone to stay in your homes, be induced into a comatose state and have your metabolic rates reduced while you spend eternity in a cryogenic state of hibernation!
It is because Democrats and Joe Biden care... that we will never have to worry about the threat of dying ever again!
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