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Unrecognizable': Experts warn of historic collapse in economic activity
Yahoo ^ | March 22, 2020 | Sam Ro

Posted on 03/22/2020 2:35:18 PM PDT by lasereye

As the coronavirus continues to spread, there is no question the U.S. economy is taking a major hit.

Economists at Goldman Sachs warn GDP will collapse at a 24% rate, a far cry from the “4, 5, and even 6%” growth scenario presented by President Trump just over two years ago.

“We are in a global recession,” Allianz’s Mohamed El-Erian said on Yahoo Finance’s On The Move. “We're in a global recession because of what economic sudden stops do.”

Economic contractions often happen gradually, not suddenly, giving policymakers and business leaders some time to adjust so that growth may resume. The coronavirus pandemic, however, has forced economic activity to grind to a halt (i.e. sudden stop) as social distancing has effectively shutdown the massive global discretionary services industry, while also disrupting the massive global manufactured goods supply chain.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: coronovirus; covid19economy; economy; recession
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Bummer.
1 posted on 03/22/2020 2:35:18 PM PDT by lasereye
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To: lasereye

They said 15 days

And we’re just about halfway through that.

Finish the 15 days and then let the healthy go back to work. The at-risk can stay at home.


2 posted on 03/22/2020 2:37:11 PM PDT by BenLurkin (The above is not a statement of fact. It is either opinion or satire. Or both.)
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To: lasereye

If you think this is bad, you should see what it looks like if you don’t take mitigation steps.


3 posted on 03/22/2020 2:37:18 PM PDT by DannyTN
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To: lasereye

These fools seem to think a pandemic is something that can we dealt with fast. Not so ! We have end it before we can deal with the economic affects. The government at all levels is doing the best they can.


4 posted on 03/22/2020 2:39:21 PM PDT by Destroyer Sailor (Revenge is a dish best served cold)
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To: lasereye
Consider what Gov Cuomo said (heard him say it and looking for the reference):

(parahrase) "If it (lockdown) saves even one life, it is worth it."

- see https://www.nationalreview.com/corner/if-it-saves-one-life-charles-c-w-cooke/ (Not a big NR fan, but this article is on-point

Saying such things appeals to emotion and feelings and not the facts at hand. You can save lives. Just stop with the theatrics.

5 posted on 03/22/2020 2:39:42 PM PDT by Fury
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To: lasereye

If possible, maybe we could have a strategic vision of what we should look like on the far side of this. I always say that the 20th century was, in large part, a mistake. Sure — great technology came out of it — but the death, the genocide, the socialism, the irresponsibility: that stuff was not good.

I’d like to see freedom and personal responsibility come back. I’m glad President Trump is in office. If anyone can get us through this, it’s him.


6 posted on 03/22/2020 2:40:40 PM PDT by ClearCase_guy (If White Privilege is real, why did Elizabeth Warren lie about being an Indian?)
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To: lasereye

Xi’s Depression.


7 posted on 03/22/2020 2:41:36 PM PDT by AndyJackson
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To: DannyTN

If things go sour fast people should march to all the mediapukes outlets with pitchforks in hand and hold the mediaVOMITS and the swamp bastards along with the evil congress rats and their impeachment hoax severely accountable!!!


8 posted on 03/22/2020 2:41:49 PM PDT by RoseofTexas
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To: lasereye

What happens when all human beings, for some reason, stop doing all the things they’ve always done?

What happens if it stays that way?

We might be about to find out.


9 posted on 03/22/2020 2:43:01 PM PDT by chris37 (Coronavirus wasn't born in a bowl of soup.)
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To: BenLurkin

Exactly what’s the matter with all these people?

I guess they just need to write something provocative

Two weeks or 15 days is nothing ! absolutely nothing !

in the scheme of things


10 posted on 03/22/2020 2:44:15 PM PDT by Truthoverpower (The guv mint you get is the Trump winning express !)
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To: chris37

I suspect strongly that humans will not for go the procreative act.

I suspect that till the last drop is gone, people will drink beer..

Dirro hard liquor


11 posted on 03/22/2020 2:45:45 PM PDT by bert ( (KE. NP. N.C. +12) Progressives are existential American enemies)
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To: lasereye

“We are in a global recession”

I think a better description will be: We are headed to a global depression at this rate. We need those drugs to work, so people can get back to work.


12 posted on 03/22/2020 2:46:42 PM PDT by DEPcom
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To: lasereye

Million dollar question. Just how sick are people getting? I hear people have it ,but how sick are they?


13 posted on 03/22/2020 2:49:14 PM PDT by jetson
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To: ClearCase_guy
I always say that the 20th century was, in large part, a mistake.

"Mistake" is not the right adjective. History/time is what it is. But very intriguing statement. Modernism/evolution seems to not be what what perceived. I basically only care about America. I am not liking the descending of the curve of our country. I would like to see how previous generations of America would deal with this.

14 posted on 03/22/2020 2:49:47 PM PDT by shanover (...To disarm the people is the best and most effectual way to enslave them.-S.Adams)
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To: BenLurkin
They said 15 days

And we’re just about halfway through that.

Finish the 15 days and then let the healthy go back to work. The at-risk can stay at home.


Yep, that is what they said. But now, they are drunk on their power. The mission will morph into "save every American life".
15 posted on 03/22/2020 2:49:58 PM PDT by The_Media_never_lie
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To: BenLurkin

That’s all I have the patience for. 15 days. That’s it. Let’s open everything up while keeping our senior citizens indoors. If government continues to lock down to curtail economic activity, it is our duty as patriots to protest.

As great Patrick Henry once said “Give me liberty, or give me death!”


16 posted on 03/22/2020 2:50:43 PM PDT by MinorityRepublican
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To: Truthoverpower

The NYC metro area faced something similar after Hurricane Sandy; on a LOCAL level, this is not “unrecognizable”. We weren’t working because a lot of power was out.


17 posted on 03/22/2020 2:50:46 PM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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To: Fury

Gee is that why abortion continues apace??


18 posted on 03/22/2020 2:50:55 PM PDT by Phil DiBasquette
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To: BenLurkin

This is the best strategy for the least total pain.


19 posted on 03/22/2020 2:50:55 PM PDT by freedom1st (Build the Wall)
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To: ClearCase_guy
I always say that the 20th century was, in large part, a mistake.

Who, in their right mind... ...Kevin, could possibly deny... ...that the twentieth century was entirely mine? All of it, Kevin! All of it. Mine.

20 posted on 03/22/2020 2:51:48 PM PDT by dfwgator (Endut! Hoch Hech!)
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