Posted on 03/30/2020 11:42:34 AM PDT by tatown
The Cure Is Now Officially More Dangerous than the Disease.
Thank you WHO Director General Tedros Adhanom Ghebreyesus, NIAID Director Dr. Anthony Fauci and globalist elites everywhere!
During the Great Depression the highest rate of US unemployment was 24.9% in 1933.
The St. Louis Fed projected on Monday the US unemployment rate during the coronavirus panic could reach 32% unemployment — higher than the Great Depression!
The St. Louis Fed estimated that 42 million Americans could lose their jobs.
A man-made depression is coming.
And it was all caused by faulty data!
...Franklin D. Roosevelt is dead and Trump is president.
Lets not be hysterical. First, the stock market is a leading indicator; it went down 11,000 points but in the past four biz days it has been up a net of 4000. Second, the H-chlorine treatments may work and we should know more by the end of the week. Third, the virus is already leveling out in Washington State which is about 2-3 weeks ahead of the rest of the US.
I believe at some point the populace, with no income to pay the people who produce food, will say F it and demand a return to normalcy.
“Get the engine up by April 12 and we’ll be rocking.”
At the briefing one of “reporters” made a point to nail Trump down and remove any wiggle room. He got Trump on to say on record there won’t be any easing anywhere. So if you have a restaurant in Montana and don’t have case within 200 miles too bad you’re just as screwed as someone in the center of NY.
Unemployment will be really high and will lag any businesses coming back online. Dems will start with the "worst economy since the Great Depression - do what FDR did" nonsense.
word*
PT won because he understands that Wall Street and Main Street are not the same. Main Street is getting killed.
And they will push it even further than April 30. Don’t get your heart set on that date.
If we are going to peak in 2 weeks, we will be on the downside of the curve on April 30, but the virus will still be spreading. They will say we need another month to make sure to stop it from re-spiking back up.
My take - and if we do, everything's on the table.
Social Security retirement benefits, federal retirement benefits (civilian *and* military), state retirement funds, etc.
Everyone's 'gonna take a haircut that depends on federal and state treasuries for their benefits.
People that think we are going to get all workers that are unemployed as a result of COVID-19 back working again will have to contend with small businesses and companies that just will not open back up again.
Even holders of US Government debt backed by the full faith and credit of the US will take a haircut by virtue of negative interest rates appearing more likely since March 1.
As with any stats, you must take them with a grain of salt. I haven’t seen the Fed forecast, but this “could” means “worst case” scenario . . . and for how long?
The Great Depression had MANY states over 40% . . . for years. If you’re talking one or two weeks of 15%, yeah, that’s possible. It won’t stay that way for a quarter, though.
This is my fear. I’m not remotely prone to conspiracy theories, but I can’t help thinking there’s a lot behind the handling and reporting of this “pandemic” we don’t know about. How convenient this happens in an election year.
One in which President Trump almost certainly was poised to glide easily into his second term.
With so much at stake, with this thing originating in China, you can’t not look at the possibility to likelihood this thing was engineered.
Not the virus. The panic and staggering economic fallout.
EBT is also available for Walmart curbside pick up.
I saw the sign, on the milk cases, when I was there, a few months ago.
This was before any COVID scare....and, they were afforded the luxury of not having to get up off of their car’s seat, to go inside and shop for their free stuff.
Why would President Trump go along with, or even allow, such a hoax?
Happened right after the failed impeachment attempt too.
I agree with your three points. Let's not respond to the economic modeling with the same hysteria with which so many responded to the medical modeling.
Yeah, but this is Trump. If he decides a week from now to change his mind, he'll change his mind and say, "I never said that." LOL
True. There is plenty of reason for optimism. We must see a "flattening of the curve" for things to begin getting back to normal.
The markets will continue to gyrate wildly until we get on top of the epidemic, and that starts with getting the epidemic's trajectory under control with mass utilization of testing kits and the use of more effective treatments -- because right now the trajectory is not good -- we are running out of ICU beds and, if not respirators, then qualified people to operate them.
Because people are in fact dying from this SARS strain of influenza. As they are, have been this season, from all the other strains. The panic that’s been set in motion feeds on itself making it politically impossible for the President to approach this thing with anything less than a total war style response.
Plus states and cities have independently imposed shutdowns and moratoriums across the country. Cumulatively, these actions alone would hobble our economy. Trump has no authority to interpose his administrations in these affairs. He has to be so very careful event what he says in an election year.
Macy’s? I haven’t paid attention to their problems. But they are one of the biggest retail chains in America. It would be a shock, a least to me, to see them in bankruptcy or insolvency.
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