motonoggin Posted April 4, 2020 Share Posted April 4, 2020 America is Committing Economic Suicide The American Economy Is About to Die From Coronavirus — Because Nobody Saved It https://eand.co/america-is-committing-economic-suicide-c7c1f7122169 Quote Link to comment Share on other sites More sharing options...
Anler Posted April 4, 2020 Share Posted April 4, 2020 Compound the lack of economic activity due to high unemployment with the already unsustainable govt deficits, add in massive mortgage foreclosures and other loan defaults and you can get a picture of where we are headed. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 4, 2020 Share Posted April 4, 2020 (edited) The scary part is the recent shift from mfg to service jobs. Service jobs could be the last to recovery and that’s the lion’s share for the economy. Edited April 4, 2020 by spin_dry Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 4, 2020 Share Posted April 4, 2020 Who’s to say what’s really unsustainable....we’re printing money so fast we can’t even count it and we have almost zero inflation because the rest of the world sucks so bad Quote Link to comment Share on other sites More sharing options...
Tinker Posted April 4, 2020 Share Posted April 4, 2020 Isn't the economy the root of all evil ? Quote Link to comment Share on other sites More sharing options...
motonoggin Posted April 4, 2020 Author Share Posted April 4, 2020 8 minutes ago, f7ben said: Who’s to say what’s really unsustainable....we’re printing money so fast we can’t even count it and we have almost zero inflation because the rest of the world sucks so bad Right? So we should really print enough to restore confidence in the economy for everyday people. The article makes the point that the stimulus bill covered us for a week, maybe two. It's a fart in a windstorm. Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 4, 2020 Share Posted April 4, 2020 (edited) 1 hour ago, motonoggin said: America is Committing Economic Suicide The American Economy Is About to Die From Coronavirus — Because Nobody Saved It https://eand.co/america-is-committing-economic-suicide-c7c1f7122169 agreed, this stimulus is misguided and does nothing to address those businesses that need it most. Disagree on size though, you can't just have unlimited stimulus especially when $1T deficits have become the new norm in prosperous years leading up to the crash under guess who. Edited April 4, 2020 by frenchy Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 4, 2020 Share Posted April 4, 2020 9 minutes ago, motonoggin said: Right? So we should really print enough to restore confidence in the economy for everyday people. The article makes the point that the stimulus bill covered us for a week, maybe two. It's a fart in a windstorm. The issue is the rich control the printing press and they print money primarily to protect their interests. Then you have brain dead fucks in the labor class claiming “if the rich lose everything none of us will have anything” fucking traitors Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 4, 2020 Share Posted April 4, 2020 7 minutes ago, frenchy said: agreed, this stimulus is misguided and does nothing to address those businesses that need it most. Disagree on size though, you can't just have unlimited stimulus especially when $1T deficits have become the new norm in prosperous years leading up to the crash under guess who. It’s been proven for decades now that traditional economics means nothing for central banks. They can print with impunity and as long as they have the backing of the US central bank there is zero consequence. Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 4, 2020 Share Posted April 4, 2020 3 minutes ago, f7ben said: It’s been proven for decades now that traditional economics means nothing for central banks. They can print with impunity and as long as they have the backing of the US central bank there is zero consequence. not really. That is a luxury only the Americans have had. It's coming to an end though, and when it does, it's going to be ugly. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted April 4, 2020 Share Posted April 4, 2020 22 minutes ago, Tinker said: Isn't the economy the root of all evil ? Yes. We are killing it so the virus dies. Think of it like....when somebody in your hose gets the flu, you get out as fast as you can then, burn down your house and all the houses around it. It’s called flattening the curve and neighborhood approach. Quote Link to comment Share on other sites More sharing options...
motonoggin Posted April 4, 2020 Author Share Posted April 4, 2020 3 minutes ago, Zambroski said: Yes. We are killing it so the virus dies. Think of it like....when somebody in your hose gets the flu, you get out as fast as you can then, burn down your house and all the houses around it. It’s called flattening the curve and neighborhood approach. 6 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted April 4, 2020 Share Posted April 4, 2020 7 minutes ago, motonoggin said: “Okay....boomer!” Quote Link to comment Share on other sites More sharing options...
USA Contributing Member $poorsledder$ Posted April 4, 2020 USA Contributing Member Share Posted April 4, 2020 So do you send them back to work or keep them home? In the long run which “kills” off more? Quote Link to comment Share on other sites More sharing options...
motonoggin Posted April 4, 2020 Author Share Posted April 4, 2020 27 minutes ago, $poorsledder$ said: So do you send them back to work or keep them home? In the long run which “kills” off more? You keep them home and paid. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 5, 2020 Platinum Contributing Member Share Posted April 5, 2020 14 hours ago, motonoggin said: You keep them home and paid. But you don't have to give them free money when many are still working and their work costs ( travel, clothes ect ) have already gone down. If they want to throw around money for free , do it when it is over and people have more choices then either give it to the waltons or bazos. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 5, 2020 Share Posted April 5, 2020 14 hours ago, motonoggin said: You keep them home and paid. Is that what the sweat shop is doing? Or are they waiting for a handout? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 5, 2020 Platinum Contributing Member Share Posted April 5, 2020 16 hours ago, motonoggin said: Right? So we should really print enough to restore confidence in the economy for everyday people. The article makes the point that the stimulus bill covered us for a week, maybe two. It's a fart in a Still massive portions of our economy still working. Not all small businesses are bars, restaurants and salons. Quote Link to comment Share on other sites More sharing options...
ford_428cj Posted April 5, 2020 Share Posted April 5, 2020 1 hour ago, Highmark said: Still massive portions of our economy still working. Not all small businesses are bars, restaurants and salons. The 19 closed a couple shops around here last week due to workers having it. Aerospace place had 3 come down with it & another place had one or two. Fast home tests need to be made asap... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 5, 2020 Platinum Contributing Member Share Posted April 5, 2020 (edited) 13 minutes ago, ford_428cj said: The 19 closed a couple shops around here last week due to workers having it. Aerospace place had 3 come down with it & another place had one or two. Fast home tests need to be made asap... (Knocks on wood) so far in eastern iowa mfg has been fortunate. One large Ag mfg shut down for 2 days for a positive test. One furniture mfg but not for a positive test...they were slow going in. Vast majority of construction shops not slowing down. Those 2 industries alone employ a significant portion of non service work in this part of the state. Ag has to keep going. Key is the processing plants staying open. If not lots of little pigs will be euthanized because there will be nowhere to put them if they shut down. Edited April 5, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 5, 2020 Share Posted April 5, 2020 1 hour ago, Highmark said: Still massive portions of our economy still working. Not all small businesses are bars, restaurants and salons. just like in the great depression Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 5, 2020 Platinum Contributing Member Share Posted April 5, 2020 2 minutes ago, frenchy said: just like in the great depression Not saying it isn't going to be ugly just arguing we are a ways from full economic collapse. Quote Link to comment Share on other sites More sharing options...
f7ben Posted April 5, 2020 Share Posted April 5, 2020 2 minutes ago, Highmark said: Not saying it isn't going to be ugly just arguing we are a ways from full economic collapse. The financial systems have fully collapsed manufacturing is going to completely be destroyed as there is zero demand energy has been fully destroyed literally the only thing keeping us afloat is QE and stimulus so massive it makes 2008 look like a birthday party Quote Link to comment Share on other sites More sharing options...
Anler Posted April 5, 2020 Share Posted April 5, 2020 With all of the unemployment resulting from this watch for wages to go down again once business resumes. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted April 5, 2020 Share Posted April 5, 2020 2 minutes ago, Highmark said: Not saying it isn't going to be ugly just arguing we are a ways from full economic collapse. The tipping point is getting closer and closer. Some areas are doing better than others due to how they developed their commerce and business models. Those with national development models are going to bounce back quickly, those that don’t have that are not. My area and areas like it primarily composed of small ventures and tourism is starting to get decimated. Manufacturing and mining sectors will be scaled back heavily...it’s gonna hurt. Apparently, some states are opening their eyes and opening up areas again. Others have their heads firmly clamped in their own sphincter. Quote Link to comment Share on other sites More sharing options...
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