“The expectation of market participants is that we’re in the Great Depression and that in a sense, the news can’t get much worse,” said BNY Mellon chief strategist Alicia Levine.Posted on 04/24/2020 7:02:08 PM PDT by SeekAndFind
Please, please, wake up. A calamity far worse than coronavirus itself is at hand.
Frightening as the death toll from the virus is, a more terrifying consequence looms: a depression, and a major one.
If you think that’s exaggeration, it’s because expert opinion and news on the economy is drowned out by “frightening, click-bait headlines” that are “not useful” on meaningless numbers.
The assessments from sources of all political stripes are everywhere, though you won’t see them mentioned by politicians or most of the media the general public reads. Here are a few:
“We are experiencing an economic contraction that is faster and deeper than anything we have seen in the past century, or possibly several centuries,” Bank of England interest-rate setter Jan Vlieghe said. [Emphasis added.]
The coronavirus collapse has the ingredients to surpass the disaster of the 1930s…. Let’s hope this depression won’t last a decade, but an unprecedented slump followed by years of pain seems inevitable, said a Bloomberg commentary.
From economist Nouriel Roubini: “The best economic outcome that anyone can hope for is a recession deeper than that following the 2008 financial crisis. But given the flailing policy response so far, the chances of a far worse outcome are increasing by the day.”
“Forget recession, this is a depression,” says the left wing Guardian.
The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world’s poorest countries suffering the most, the head of the International Monetary Fund said Thursday.
“The expectation of market participants is that we’re in the Great Depression and that in a sense, the news can’t get much worse,” said BNY Mellon chief strategist Alicia Levine.
“At this point it would take a miracle to keep this recession from turning into the Great Depression II,” says Chris Rupkey, of Mitsubishi’s economic unit.
We are fighting the last war. Politicians and most of the press talk incessantly about “the curve” on virus infections, the point of which was to ensure that hospital capacity wasn’t exceeded. But we already won that, having excess capacity that is growing every day.
It’s time to bend different, more terrifying curves. Here’s one. It’s unemployment claims, from the St. Louis Federal Reserve Bank:
Unemployment is likely already at Great Depression-era highs.
And take no solace from the stock market, which has held up quite well. It’s artificially pumped up by Federal Reserve Bank stimulants. The reality for most Americans is very different, which was captured beautifully on a screenshot from earlier this month showing the market soaring while unemployment surged:
To contain or head off the looming depression, our policy on the Wuhan Virus must change immediately. Two Stanford experts summarized the right approach as follows:
The appropriate policy, based on fundamental biology and the evidence already in hand, is to institute a more focused strategy like some outlined in the first place: Strictly protect the known vulnerable, self-isolate the mildly sick and open most workplaces and small businesses with some prudent large-group precautions. This would allow the essential socializing to generate immunity among those with minimal risk of serious consequence, while saving lives, preventing overcrowding of hospitals and limiting the enormous harms compounded by continued total isolation. Let’s stop underemphasizing empirical evidence while instead doubling down on hypothetical models. Facts matter.
Please, please wake up.
Liberals screwed the economy based on a hysterical disease model and now demand we implement more expensive policies based on severely biased climate models.
L8r
1) Open everything up and let all who will get infected catch the virus (Sweden is trying that, it's called herd immunity; it would definitely solve the SS shortfall problem looming)2) Keep everything locked down and wait until a vaccine is proven to yield immunity (and even an effective vaccine is only about sixty percent effective in yielding immunity on an individual basis; plus vaccines have scary side effects and this one coming will have a Gates data dot for everyone who gets it side effect)
3) Make a drug cocktail like HCQ + Doxycycline + zinc supplementation available (without restriction to hospitals only), so every physician and physician's assistant can write the scripts at first sign of a symptom and open the nation up to go back to being GREAT.
Since it is the human body immune system which defeats any virus that is defeated, reducing the viral load and keeping inflammation down is the best way to give the immune system a shot at developing immunity.
Hydroxychloroquine appears to have two sides to its efficacy: a) the drug has been proven as an inflammation reducer (used in RA and Lupus, and now with covid patients to reduce their airway inflammation); b) Hydroxychloroquine is a proven ionophore, ferrying ZINC into the infected cells where ZINC works to stop the viral replication thus reducing viral load.
So which of the three ways to have immunity in a society do you think the globalist oligarchy has in mind for America? And which of the three means to immunity do you think saves people and the last great hope for humanity, America?
There does appear to be a non-medical goal, one the globalisy oligarchy has been preparing for more than a decade. And their goal is working.
More ignorant fear mongering.
The Great Depression was caused by a banking system collapse. There is nothing wrong with our banking system.
As soon as people and businesses are allowed to return to work the economy will recover. There is huge pent up demand.
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We don’t want to go back to Obama Era Unemployed (not ‘unemployment’ that’s a misleading statistic that ONLY measures ‘People ON Unemployment’ which when the situation goes on for many many years runs out (99 week max ??) as someone who is unemployed is NO LONGER COUNTED.
WE HAD A DEPRESSION - IT WAS UNDER OBAMA
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Hoping the Democrats end up paying the full price for what they are doing. They should (as many as can be proven guilty) end up in general population in prison.
Yep, GP is good, but these chumps would probably PC up, and end up in Ad Seg.
“The chickens may always be chickens so we must move past them.”
You would think that with 500,000 confirmed cases and 50,000 deaths, they would know whether these people caught it at work, sporting events, grocery stores, hospitals, restaurants, bars, beaches, public parks, inside, outside, family members, neighbors, coworkers, school...
Not one enterprising investigative “journalist” can put together a story?? Not that we want complete idiots like Yamiche Alcindor or Jim Acosta making analysis...
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