Coronavirus recession

It’s not good for our economy only when Trump is in charge.
How old are you?
Do you remember mass hysteria over fuel being over $2 during Bush years?
Or do you remember news articles from Obama years that claimed cheap fuel helps fuel the US economy?
Now, all of a sudden $100 oil is good for us? Did you enjoy paying $4.50 per gallon during the height of Obama rule? Was that good for you to spend $50 to fuel a car with 13 gallon fuel tank?

 

2009 recession taught me well - I always make sure that my function is essential and there are no other employees at my employer who can replicate my work. So, even among the shut down, the company I work at is deemed to be essential business and I’ll be working from home.
Having said that, I think 2009 left me with a mental scar - I’m horrified of the thought that millions of people are going to go through same crap they went through during the last recession. Even if I stay employed, this still negatively impacts me - I won’t be able to easily switch jobs in the next couple of years if I want to keep my compensation level or get more.
It’s easy to stop the economy. It’s very difficult to restart it.
I think we are seeing a situation where a treatment to a disease is worse than the disease itself.
In Venezuela they are shutting down gas stations over the virus. This can lead to a very real famine in a few months. Is the world killing thousands or even millions of people from famine or suicides to save 30,000-100,000 old people who might die next flu season anyway?

 

I think 2009 left quiet a few of us scared. I was lucky and had a alarm bell going of in my head.
Drove to a horse show near Denver, 2006, and drove past all those subdivisions. The houses looked empty, left without caring, after me the flood syndrome. I did everything to get rid of any debt. I honestly was scared..
Sometimes being scared is a good thing, just do not panic.
When the crap hit the fan my business and I were debt free and rode out the storm quiet comfortly.

Still absolutely debt free and with a very nice cash reserve.

Yesterday was our first normal business day and today looks good to. The shopping frenzy is slowing down and people can turn their underwear only so often.

But it will be very rough for the small businesses in town, they depend on the tourist season.
Motels, hotels, giftshops, camp grounds, lodging and restaurants. I am afraid 80% will go down the drain and they are the main employers in the whole region.
This has a completely different dimensions than 2008 - 2009.
Some non-essentials have already been shut down.

 

Achieving .8% mean GDP growth across 8 years is hardly a success. You realize that's .7% above another recession don't you.

 

Oh give me a ****ing break.

The left has been celebrating the repercussions of this virus and how it could impact the election.

Dont ****ing play innocent when you know damn well you celebrate it as a means to your ends.

 

So Bush solved the recession?

 

I am just stating the month and year it ended. I will let y’all argue the who. IDGAF

 

I am not celebrating, I am very sad. I will be fine, no question about it, my company and employees to. We are essential.
There is nothing to celebrate.
Our elderly are in rather serious danger, as Italy shows.
I am for US standards left.
I do not celebrate, but I am very much aware the the current Us government has dropped the ball, down played it, never got the drift and is now desperately trying to catch up, without taking leadership.

Nobody is celebrating.

 

Which is nice for you and me. But fracking oil is produced at around $40 at the present and that is the US oil boom.
It stay below $40, that boom is gone. Russia and Saudi produce under $20.
How many US jobs depend on the US fracking industry, not just oil, but gas, too.

What do you think that will do just in the State of Texas, below $40 a barrel.
Devastating, blows its whole economy apart.
And than what ?

Role over to the Saudi's even more, or even Russia, for the oil tit we just got rid of ?

How short sighted is that ?

 

That might be why they blocked Stimulus, because they were afraid it would stimulate the economy.

 

Sounds GOOD.

Pelosi and the Dems need to hold firm and not let Trump and his cronies get away with fleecing taxpayers.

 

The hell with the Elderly? My goodness.

HOW LOW CAN THE SENATE DEMOCRATS SINK?

Yesterday Senate Democrats filibustered the Trump administration’s economic bailout bill. The key vote was 47-47, with every Democrat voting for the filibuster. You’ve got to hand it to the Democrats: when they decide to jump off a cliff, they do it together. The $1 trillion+ bailout was the sort of bill the Democrats would normally love.

But, unfortunately, it didn’t include enough of their pet hobby horses.


Rep. Dan Crenshaw

✔@RepDanCrenshaw
I can confirm this. This is what Democrats torpedoed the rescue package for.

This will go down as one of the most cynical, disgusting, malevolent actions in history. Millions are losing jobs while they play these games. https://twitter.com/guypbenson/status/1242093340704804867 …

Guy Benson

✔@guypbenson

Via senior GOP aide, Schumer/Pelosi now pushing these demands amid pandemic-fueled economic collapse:

1) Unprecedented collective bargaining powers for unions
2) Increased fuel emissions standards for airlines
3) Expansion of wind and solar tax credits

9:49 AM - Mar 23, 2020