The next disaster - The economy

Discussion in 'Coronavirus Pandemic Discussions' started by ronv, Mar 30, 2020.

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  1. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    I have to disagree. It may not be the same, but the economy will be robust again, probably sooner than later. This is America, we've recovered before. It may be that the big money focus will shift, but that's liely to be a good thing, like down with big oil and up with wind and solar industries.

    I don't know about the social distancing, whether that will become a permanent thing. I doubt it. But the next time a pandemic rolls arpund, we'll know what to do, won't we?

    What's that old saying? "What doesn't kill us makes us stronger." My personal version of that: What doesn't kill us has made a grave tactical error. :mrgreen:
     
  2. tharock220

    tharock220 Well-Known Member

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    The economic collapse is already here. The silver lining is that there's no reason to think we won't return to the expansion that was ongoing before the virus started spreading.
     
  3. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    There's money in it for the self-employed, and retirees. As I understand it, they'll start by EFTs to everyone with a bank account registered with the IRS. Those who don't have that will probably have to fill out a form, probably online.
     
    Last edited: Mar 31, 2020
  4. ronv

    ronv Well-Known Member

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    Maybe someone like @Lesh has tried navigating the process. But if I understand it correctly it is in the form of forgivable loans if you use it to keep employees or to pay rent and utilities.
     
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  5. Andrew Jackson

    Andrew Jackson Well-Known Member

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    I like that, S.M.

    I don't know.

    But, I hope you are correct.

    I want to see America come back..

    But, as far as "back to normal", there is a limit to How LONG that America can keep this up.

    IF it could be open for business by the 4th of July, that would be Epic.
     
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  6. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    No problem, if they are retooling their production lines to produce PPE and ventilators. It would be great if we could keep that work here, but corporate America sold its collective soul for cheap Asian labor a long time ago. Consequences.
     
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  7. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    Do you boycott American companies who have moved their manufacturing jobs to China?
     
  8. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    Just opinion pieces so far. The MSM isn't touching it yet.

    "In other words, the federal government is nationalizing large swaths of the financial markets. The Fed is providing the money to do it. BlackRock will be doing the trades.

    This scheme essentially merges the Fed and Treasury into one organization. So, meet your new Fed chairman, Donald J. Trump."

    https://www.bloomberg.com/opinion/a...financial-cure-risks-being-worse-than-disease
     
  9. ronv

    ronv Well-Known Member

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  10. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    Bat Boy? Who's that? Sorry, I'm not up on my pop culture memes, and I definitely don't try to keep up with Taylor Swift's love life.
     
  11. Sleep Monster

    Sleep Monster Well-Known Member Past Donor

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    Why does that seem scary?

    :hiding:
     
  12. ronv

    ronv Well-Known Member

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    We should probably ask to borrow some ventilators. If you believe them they only have 600 people in critical condition now.
     
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  13. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    Its probably more power than the President should have over our economy. But its better than international bankers having it. At least we elect the President.

    Assuming its not a load of fake news. It very well could be.
     
    Last edited: Mar 31, 2020
  14. AmericanNationalist

    AmericanNationalist Well-Known Member

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    Trump is neither head of the Treasury Department, or the Federal Reserve but of course that loser Bloomberg has this "hit piece" on his site.
     
  15. Andrew Jackson

    Andrew Jackson Well-Known Member

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    The World's ONLY Reliable News Source.

    100x More Credibility than Breitbart and Faux News:

    [​IMG]

    Anyway, back on topic to the economy:

    They are probably going to need a 3rd Bill. :salute:
     
    Last edited: Mar 31, 2020
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  16. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    I thought Tay-Tay was going to be his running mate (in more ways than one).
     
    Last edited: Mar 31, 2020
  17. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    Oh bloody STAWP, wilya?

    I've been around a few years and seen things come and go. By next year "social distancing " will be some sort of dirty joke and a decade from now being a "corvider" will mean you're a good example of why the world is ending soon.
     
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  18. nopartisanbull

    nopartisanbull Well-Known Member

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    We can quickly switch off an economy, however, we can only switch it on gradually.
     
  19. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    But the President does appoint the head of the Treasury, which isn't much different if he appoints the right person. And if the Fed has been merged with the Treasury, that gives the administration a substantial weight in directing its policy.
     
    Last edited: Mar 31, 2020
  20. AmericanNationalist

    AmericanNationalist Well-Known Member

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    Well, I could go full controversial and join Libertarians in that the Fed shouldn't have been in the first place. So if executive fiat oversees the Fed, that's actually as close(though obviously not in the cleanest sense) as we've gotten to Libertarian desires to be rid of the central bank.
     
  21. Texas Republican

    Texas Republican Well-Known Member Past Donor

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    The Dems won’t run Biden. He can’t go two minutes without making a major mistake. He’d be a horror show at the debates.
     
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  22. Quasar44

    Quasar44 Banned

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    You think the loud mouth “ Pasta Alfredo from NYC will get it
    The fake typical Italian tough guy lol
     
    Last edited: Mar 31, 2020
  23. Quasar44

    Quasar44 Banned

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    Dems are as bad as 50s USSR
     
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  24. Lesh

    Lesh Banned

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    It remains to be seen. This thing is overseen by the SBA which is notoriously hard to deal with.

    It's early but so far despite numerous loan an grant applications...nothing
     
  25. Quantum Nerd

    Quantum Nerd Well-Known Member

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    -In the short term, time scale of months, the economy is shot, and the government stimulus is needed to prevent total collapse.

    -In the medium term (6 months+), the economy will come back to somewhat normal.

    -In the long term (years), the economy has to adapt to avoid being killed by disruptions like this. In my view, this means a further push to automation. Less human hands involved means less probability to have virus outbreaks in factories and warehouses, means less disruption of the supply chain hurting businesses.

    Amazon already is starting to see outbreaks in their warehouses. What do you think their response will be? Even more automation, so the product flow can continue, even in the advent of another pandemic.
     
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