Posted on 04/29/2020 4:43:58 PM PDT by E. Pluribus Unum
The coronavirus crisis is crashing the U.S. economy at the fastest rate since the Great Depression, the government reported Wednesday, while the Federal Reserve pledged to keep interest rates near zero as long as it takes to bolster a recovery.
President Trump said the need for people to go back to work is so urgent that he wants to see a return soon to full-capacity restaurants, sports stadiums —and campaign rallies — with or without a vaccine.
“We want it to be the way it was,” Mr. Trump said during a meeting with business leaders at the White House. “We can’t have somebody with half a restaurant. That’s not going to pay the rent.”
With more than 26 million Americans having lost their jobs in the past two months, the Commerce Department said first-quarter economic output contracted at an annual pace of 4.8%. Adjusted for inflation, the drop from the fourth-quarter GDP of 3.6% matches the quickest and biggest fall since the Depression in 1932.
Consumer spending, which accounts for two-thirds of economic activity, fell by a whopping 7.6%.
And the plunge caused by the pandemic hasn’t hit bottom. The Congressional Budget Office is forecasting that U.S. gross domestic product will collapse at an annual rate of up to 40% for the April-to-June period.
Faced with those staggering numbers, the Fed signaled Wednesday that it will keep its short-term interest rate near zero for the foreseeable future. The central bank also said it will keep buying Treasury and mortgage bonds generally to spur lending.
“The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time,” the Fed said.
Fed Chairman Jerome Powell said it’s clear that the impact of the coronavirus on the economy is severe.
(Excerpt) Read more at washingtontimes.com ...
Then what’s this crap all about?
They can develop all the vaccines they want. It’s not stopping states like Georgia from opening up now and another 8 red states that never locked down in the first place to continue to stay open.
Stopped taking the flu vaccine long ago. It’s pretty useless.
Yes...I've like many people wondered about his choices...
Seems to me you have been overly anti-Trump...that's my opinion. Deal with it...
I have three job's....One is deemed essential. Health Care...
I have a ranch..and some cattle...non-essential I guess...At this point.
And I trade stocks....Way non-essential..I know.
Now what do you want to talk about?
I’d guess...you will be surprised.....
And with 300 million doses by January, do you expect they plan to give you a choice?
They’ve got Trump to sideline HCQ.
The Kushner Fox News appearance on Sunday night was IMO very concerning—he was all in on the Fauci/Birx express.
I have lived a very long time. So far, nobody has managed to make me take any medicine I didn’t want.
I have no intention of allowing that now.
Good luck!
I think the sis the 2nd biggest farce. The biggest being that Americans living and working in the US are supposed to be taxpayers.
50 bucks for the book by Dave Champion “Income tax shattering the myths” and a long weekend of reading would prove that to everyone.
The President's primary responsibility which he swore to uphold in his oath of office is "to preserve, protect and defend the Constitution of the United States of America". Well, leaving this responsibility to the Divided States of America is an unmitigated and ongoing disaster of epic proportions as our Constitution and our Bill of Rights have been suspended by the unchecked and unchallengable orders of governors and lower level politicians to the point that our "unalienable rights" are no longer "unalienable" ... they instead are rights to be taken from us when there's a "good reason" (and there is always a "good reason" to justify tyranny), and are no longer "rights" but nothing more than "privileges" to be restored only when a governor says they will be restored.
The crash of the U.S. economy and the dissolution of our social fabric is happening in "real time" and, instead of incremental improvements as the virus wanes, these conditions are getting worse at an accelerating pace. I understand that we live in a Republic and as provided by the 9th and 10th amendments (it seems these are the only two of the first ten amendments that remain active and intact), powers not specifically enumerated for the federal government are reserved for the states. However, the destruction of our country is occurring on a national level ... with no end in sight as the timelines for "recovery" continue to be extended or remain undefined and are highly inconsistent between the states; a direct result of the politicization of the lockdown and recovery process.
Should peaceful protests against this state-level tyranny (although in some states, such as California, the governor has suspended the 1st amendment and has disallowed such protests (for a "good reason", of course), as he has nullified through "executive orders" other portions of the first ten amendments contained in the Bill of Rights), fail to move the governors to positive, legal action, I fear these protests may turn violent as citizens recover from their fear-induced paralysis and awaken to the much greater horrors of totalitarianism.
Now is the time for national leadership that can only be performed at the federal level or I expect we'll see little real recovery (in fact, maybe even "reverse recovery") across the United States over the next six months (i.e., up to the time of the 2020 election in November). By then, recovery won't take months ... it will take years. And all Americans will suffer greatly throughout that long time.
President Trump, do your duty and abide by your oath. Now.
“Kushner Fox News appearance on Sunday night was IMO very concerning—he was all in on the Fauci/Birx express.”
So true. He sat like a robot for the entire interview with Hilton until Hilton implied something negative about Fauci. The little freak actually became animated (for him), and scolded Steve. I think the Kushner and Zuckerberg bots were created in the same laboratory; inhuman beings.
At this point our great president knows he’s been had
Ha ha. Yes, some real similarities in strange lack of regular human affect.
He also famously talks to his “mentor” Rupert Murdoch daily. Increasingly I fear he is Trump’s “handler”, who will keep him on the Bill Gates path. The report that Trump is all in at throwing money at the Big Pharma/Gates forced vaccine cartel is very disconcerting. Such a move would sell the country down the river and guarantee some sort of next Michelle or Hillary administration coming in to oversee it in January.
Disturbing. The Javanka twosome always has been a problem IMHO. The “vanka” part has too much influence over Daddy.
Thix thread is required reading as we enjoy our morning coffee. BTTT
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