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Let me know I have the other one
Biden will save us.
Let me know I have the other one
We won't rush into any decisions. We have been able to weather the storm to this point but we employ close to 50 people in our office and our work directly impacts the employment of several thousand people. We have not cut salaries or laid anyone off to date and we could probably carry on for another 3 - 4 months like this but at some point that will change. I'm not saying you are wrong, just that there are no easy decisions when you start to consider some of the additional ramifications. One of my biggest concerns with the unemployment levels is that you are going to see people lose their health care coverage, and that will lead to more death. Sucky situation all around.
US unemployment rate approaches 20%, economists say
Last week's 4.4 million new unemployment claims
don't account for the backlog that has yet to be processed
At this rate, 2020 is predicted to exceed historically horrific full-year unemployment totals.
That includes 1982, when unemployment reached 30.4 million, and
2009, when it reached 29.8 million.
"This is due to the fact that jobless workers are only counted as unemployed if they are actively seeking work,"
"That means many workers who lose their job as a result of the virus will be
counted as dropping out of the labor force instead of as unemployed,
because they are unable to search for work due to the lockdown."
https://www.salon.com/2020/04/23/us-unemployment-rate-approaches-20-economists-say/
I already explained that. You're continuing to pretend the second part of your post never happened.
Well, there's clearly more than a binary choice. You can open fully, you can open with certain precautions, you can keep it closed with no assistance, keep it closed with assistance, etc.
So in other words they are going to fudge the numbers to make it look like unemployment is 10-15 percent when in reality it's 20-30 percent.
30% seems achievable, and the states re-opening will help
No, you offered it as a 3rd option, then above you say it's part of B.
At the level we're talking about "reopening the economy" then there's not. It's yes or no. Of course there are stages of being open, and in fact there's one spectrum from completely open to completely closed, and everything in between, but I didn't manufacture the term "reopen" in this context. So if the the economy stays how it is, it remains closed (option 1). If businesses begin to reopen (there's that word), it doesn't remain closed (option 2). Gradients of those are purely for argument.
Since the economy is not fully closed, we're just talking different degrees of further opening.
I guess we can make it a semantic argument for individual businesses if we want to stay in the weeds.
Reopening won't avert a depression. If we're not already in one, we will be within a couple of months.
Like China, USA will have actual economic contraction, reduction in GDP.
1st time that has happened to China is 50 years.
and Moscow's little McC has every intention of making it worse and keeping it bad, because the cure of "counter-cyclical" govt spending worse than the disease of govt debt.
Multi-millionaire being personally immune, unaffected by the cure or the disease.
Not sure what you mean. In the debt deflation scenario, public spending is the only thing that can replace lost demand. The Keynesian view is that running up the debt in a depression softens and shortens it, where'd you get the idea that spending in a depression is worse than the depression itself?
If you meant to say that running up the debt in a bull market -- like DJT has done the last four years, you might have a leg to stand on -- but that's *not* counter-cyclical spending.
Can you clarify?
God if I have to hear one more time how the fundamentals of this economy were strong until COVID. Yeah so strong middle class government workers were in food lines during Trump's government shutdown and housing prices have joined out of control healthcare and educational costs to completely the middle and lower classes even further. But Trump's tax giveaway propped the Dow Jones up with stock buybacks so all was great.
No buffers, no guardrails, ty health care, low wages, high indebtedness, no provision for a rainy day. Financialization of the economy has sucked us dry.
US has been playing it way too close to the edge. The proof is what we're going through now
I said nothing about a stock market
If there was ever a time for Keynesian govt counter-cyclical spending, it's now. Deficit and national debt be damned.
Mitch and Repugs are maximizing the enrichment of the oligarchy by $100Bs, NOT counter-cyclical spending. says no more spending at least until 4 May, by then 1000s of companies will have folded, and many Ms of jobs lost.
Repugs, the oligarchy, Capitalists don't care about human life, human lives, the environment. The only priority is amassing more Capital as a means to more more power to amassing more Capital, ad finitum.
Repugs have NO reticence in pushing the debt well over $20T by cutting taxes (starving the beast) on the oligarchy.
When the non-oligarchy needs govt help, the Repugs say no help because of the national debt.
And course the corruption and fraud by the oligarchy essentially stealing the pandemic spending was enabled by the Repugs, while Dems stood by in effective silent complicity.
This is the perfect time to throw a few trillion at infrastructure while they can borrow at almost 0 interest rate
Unions good now?
I like purple unions, but have to cut them underwater.
Probably the only thing you agree with Trump on.
Was he supposed to agree on 15 cases soon to become zero?
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