Posted on 04/02/2020 6:33:42 AM PDT by Enlightened1
. Loss of Stock Market Valuation
At the end of February, reports indicated the stock market lost $6 trillion in valuation based on a drop of the Dow Jones Average from a high of 29,551 to 25,429 in the first wave of coronavirus crisis slides. Until we find a site that states the total loss due to the coronavirus crisis, based on the $6 trillion slide, we are estimating the total loss as of 3/31 (with the Dow at 18,591) to be:
Stock market loss in valuation: $10.5 TRILLION
TRENDING: OANN Booted From White House Briefings by Press Corps Association
They say those are “paper losses” and the market was “due for a correction.” Tell that to the retired couple depending on their stocks to live on during their retirement. Or the near-retirement age couple that just saw the goal of retirement fade away.
2. Direct Losses to the Economy (Lower GDP)
On March 20, Goldman Sachs drastically lowered its U.S. economic projections and is now expecting that that U.S. GDP will contract by 3.8% this year, as opposed to the projection at the outset of the year of 2% growth. It took America about three years to get back to the level of GDP output after the 2008-2009 recession. Based on this data, we project the LOSS in GDP due to the coronavirus crisis:
Direct Losses to U.S. Economy (GDP) $2.39 TRILLION
3. Loss of Jobs/Wages
The U.S. Federal Reserve of St. Louis is projecting the possibility of up to 47 million lost jobs (32.1% unemployment), which is far greater than the Great Depression (24.9% unemployment)
(Excerpt) Read more at thegatewaypundit.com ...
Let the fearpers rejoice.
We'll cope.
But at least nobody will die of the vrius.
Instead it will be homelessness, alchohalstm, opioid addiction, suicide and a whole host of other unforeseen consequences.
But hey, MSM, keep schilling for China. That is what Americans want to hear right about now.
At the rate we’re going the price of a case of toilet paper is going to be more than the US GDP.
Or not
Be prepared for the economic fallout after the lockdown ends.
This is the mother of Black Swans.
https://www.youtube.com/watch?v=aCDncXO7s4U
The only people that would see this as good news is hard core survivalists in the woods. and even then it’s because they haven’t thought it through.
I’d just as soon not borrow $7000 to get $1200.
Well, it is what it is.
We’ll cope.
Think about what ended GF I. And GD II is happening in a much different and interdependent world.
The fearpers cheered on this lockdown approach, even when warned of the consequences. The economic fallout from this is something to seriously be concerned about as it will 100% affect every single American in a very bad way.
Of course, counting losses in stock markets (value of public companies) and those companies’ losses is double counting.
Agree. God is in control.
What if the cure kills the patient?
Back when Trump was elected, I used to say that I honestly didn’t see us going more than ten years - and probably five, before a collapse much worse than teh 2008 one happened. But I never thought it would be caused by something like this. And we are consciously bringing it on.
It’s simply unbelievable. I feel like the lone lemming in the middle of a huge pack trying desperately to get out while the whole pack is pushing itself over the cliff.
All I can do is remind myself that life is a mist and this too will pass. But I’m old. I’m fairly close to the end anyway. It is the world of those under the age of 50 that I really feel for. Their world is about to be rocked in a way similar to how it was rocked for Europe beginning on September 1, 1939.
If you parse his words from yesterday even Fauci seems to know this can not stand beyond April 30.
Like I have been saying... I dont think people realize how catastrophic this is. They seem to think we can just push pause for 2 months and then resume where we left off. That’s the mindset everyone seems to have.
I get insulted on facebook and sometimes here for calling out the economic ramifications of the lockdown. They think I only value money over people’s lives. They don’t get that money, in a very real way, is what keeps people alive in the first place.
It’s not about valuing money over people. It’s risk analysis.
This strikes me as a bunch ofdoublemultiple counting.Just estimate the lost GDP and call it a job. Everything else is just a symptom.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.