domino

Unemployment likely to top 30%, higher than the Great Depression.

BKbigfish

Amazing how the party of personal responsibility has become the party of blame somebody else for your failures.

“I don’t take responsibility at all”

-Donald J. Trump

rickair7777

But the great depression persisted until WWII. The suck actually persisted until the late 40's because WWII wasn't really fun for anyone and then the economy took a hit when war production ended. So a big break between the roaring 20's and the roaring 50's.

This should recover much sooner, that's what the economists are saying and I don't see any reason to suspect otherwise. But the recovery time does depend on how long the lockdown lasts.

2StgTurbine

In the early days, everyone wants to compare every downturn to the Great Depression. Happened in 2008 too. While the unemployment number may get that high, we are a very different society now. In 1929 the government still thought that the stock market was separate from the economy. They also didn't understand how an economy is directly related to the success of a country. There was no social safety net and no sense of a national crisis. Economic theory has come a long way since then. It took FDR years to implement public works projects. He was strongly criticized for it and as a result it never became large enough to reverse the economic trends. Then WW2 forced massive amounts of spending from the federal government. Now we have an example to look back on to determine what happens when the federal government does nothing in a downturn and what happens when the federal government does everything they can. So while some metrics of our downturn might look like the Great Depressions, we will have a different reaction and therefore a different result.

Peacock

https://www.cnbc.com/2020/03/30/coro...-fed-says.html

That number doesn’t account for people who voluntarily leave the workforce, and doesn’t account for the stimulus (or future bills). It also says they expect the downturn to be brief.

Sorry to rain on your chicken little shtick

Slaphappy

what failures?

rickair7777

This is what I was too lazy to type out.

majorpilot

Trust me, I take nothing for granted.

First off, we are ALL SUFFERING. NO ONE wants this economic damage...NO ONE. We are all in agreement on this. If someone is not, they are delusional or a conspiratorial nutcase, and no dialogue is possible, so let’s accept that.

I think this is simple. What I’ve learned is when people make simple stuff more complicated, it’s usually because they’re hiding something or it’s it well enough understood.

Forgive me if I find it hard to take the constitutional deprivation argument seriously. I’m in a state you would say was very oppressive, yet today l went grocery shopping, bought coffee, walked the dog, and moved as I pleased for essentials. So I couldn’t see a movie? That’s necessary to maintain social distancing; that’s not oppression, that’s science. And some states continue to permit their population to be endangered by gathering in masses, so I’m lost on the “help, we are being oppressed” argument. If true, bring suit. Gun shops are doing that already in my town because the city clamped down on them gouging people for ammo sales. The federal courts are VERY receptive to such cases right now. Try them.

And where was the outrage over suppression of free press six months ago? We’ve never had a president in our lifetimes incite violence against reporters. Where was the outrage over that? How about separation of powers? Sorry, I’m not a buyer for “defending the constitution” unless we’re defending ALL of it. Will you join me?

As far as economic misery, you are starting from a false premise. There is no choice here that avoids economic impact. That ship sailed months ago and we blew our early warning claiming this was a non-issue, a press invention, or a democratic plot. None of those were true, why should we believe the same people now who claim “but now it’s killing the economy”?

Now, it’s all about mitigation. We can have a bad impact that lasts weeks or months, or a generation-changing, catastrophic one that lasts years. That is the choice, so let’s go with the health professionals and pick the former.

I totally agree with the concern over a REAL external or military threat. The virus is dumb: it’s brainless, follows nature’s laws, doesn’t have an agenda, and has no countermeasures. We will beat it.

Terrorists or bad actors are smart, change behavior, and are determined to kill us.

If our current leadership can’t defeat a brainless threat, how can we rely on it to match wits with a clever one? THAT is what scares me more than getting sick, and THAT is what everyone should be thinking in November. This guy has proven he can’t do it...

majorpilot

Name-calling AND “what about-ism” in the same sentence. Doesn’t the handbook say to at least space them out?

So you can’t disagree with the facts set forth, namely, that the orange draft-dodging buffoon dismantled our early warning apparatus, ignored intelligence community warnings, lied about the facts, and downplayed things for months when he should have been LEADING, I take it?

And Biden IS old, but he was a VP when we sent thousands of people to work on Ebola to help ensure it didn’t break out here or, if it did, we would be more ready...instead of -0- to China.

Socially awkward? Has he bragged about grabbing women by the p!ssy? Now THAT is socially awkward?

How do you guys even write this stuff with a straight face?

majorpilot

Oh, and l didn’t propose anything...but the reality is no leadership would be better than what we have now, because what we have now is NEGATIVE leadership. If we are going to let it ride with the governors and the federal health care officials, I’ll go with that, get out of the way then. Let the experts work and Congress will fund what they need. Why does the orange draft dodging buffoon need to sign the checks?