The stock market is not the economy - Marketplace
But, yes, the two are related. And that relationship can get pretty interesting.www.marketplace.org
Yes, I agree. But it's Wall Street Trump seems to be more concerned about.
The stock market is not the economy - Marketplace
But, yes, the two are related. And that relationship can get pretty interesting.www.marketplace.org
Yes, I agree. But it's Wall Street Trump seems to be more concerned about.
Most employers aren’t large companies or corporations with billions in cash reserves. Most people in this country actually work for what are considered small businesses. These businesses do not have the ability to spend months shut down and recover. A conservative estimate is that over 1 million small businesses in this country will not survive this. So the folks yes I’m including some of y’all in this category, who think the economy can weather a long-term shut down are just as ignorant (lack of knowledge, not dumb) as the people who think the virus is no big deal and everyone should all go back to normal tomorrow.Today was day 1 of MA's shelter in place order.
NBC 10 just had a story on the impacts to the economy today. They interviewed several people who are not essential workers and are not able to work from home.
The majority of which found themselves laid off and/or furloughed today.
It is estimated that a few hundred thousand may have lost their job today across the state.
Companies are not keeping people are the payroll or giving paid leave during these hard times.
I haven't seen a single person in here say that the economy can "weather a long term shutdown." Just that people don't believe we should let millions of people die to avoid severe negative impacts to the economy. Of course it will be a disaster, but not only is it horrific to suggest we let millions of people die, but the idea that if we just ignore it, and abandon any quarantine policies, the economy won't still be severely affected is ignorant as well.Most employers aren’t large companies or corporations with billions in cash reserves. Most people in this country actually work for what are considered small businesses. These businesses do not have the ability to spend months shut down and recover. A conservative estimate is that over 1 million small businesses in this country will not survive this. So the folks yes I’m including some of y’all in this category, who think the economy can weather a long-term shut down are just as ignorant (lack of knowledge, not dumb) as the people who think the virus is no big deal and everyone should all go back to normal tomorrow.
The economy isn’t Wall Street, it’s every day people going to work, buying goods, paying rent/mortgages and living their lives. A balance will have to be struck between the risks posed by the virus and the risks posed to the lives and livelihoods of tens of millions of people in this country. Where that balance is, I have no clue. What I do know is that just because someone is concerned about the economic impact all of this is having doesn’t make them a greedy monster obsessed with money. Many of them are just as concerned with their fellow citizens, They’re just looking at a different threat to them than you are.
Most employers aren’t large companies or corporations with billions in cash reserves. Most people in this country actually work for what are considered small businesses. These businesses do not have the ability to spend months shut down and recover. A conservative estimate is that over 1 million small businesses in this country will not survive this. So the folks yes I’m including some of y’all in this category, who think the economy can weather a long-term shut down are just as ignorant (lack of knowledge, not dumb) as the people who think the virus is no big deal and everyone should all go back to normal tomorrow.
The economy isn’t Wall Street, it’s every day people going to work, buying goods, paying rent/mortgages and living their lives. A balance will have to be struck between the risks posed by the virus and the risks posed to the lives and livelihoods of tens of millions of people in this country. Where that balance is, I have no clue. What I do know is that just because someone is concerned about the economic impact all of this is having doesn’t make them a greedy monster obsessed with money. Many of them are just as concerned with their fellow citizens, They’re just looking at a different threat to them than you are.
What has been repeated here time and time again is that any time anybody expresses any concern about the economic impact of all of this is a monster who’s willing to sacrifice millions of elderly people for the sake of their portfolio. That view is just as ignorant and shortsighted as the folks who think it’s all much ado about nothing. There’s a lot of hysteria going around and I think everybody could do with taking about 20 to 25% off the top there Squirrley Dan.I haven't seen a single person in here say that the economy can "weather a long term shutdown." Just that people don't believe we should let millions of people die to avoid severe negative impacts to the economy. Of course it will be a disaster, but not only is it horrific to suggest we let millions of people die, but the idea that if we just ignore it, and abandon any quarantine policies, the economy won't be affected is stupid as well.
There are some very serious constitutional issues and questions regarding the ability of the federal government to take those actions. The reason why most of these actions are being taken at the state level is because that’s their job.The problem is that our government is not shutting down things NATION wide while implementing social safe guards (1k checks, a halt on mortgages and rent) and utilizing mass testing. Which most experts say is how you squash things and return to normalcy sooner than later.
Instead, states are doing their own thing (& enforcement is lax), Trump is intentionally limiting the production of key goods in an attempt to maximize profits for certain people, there has been nothing but talk as it pertains to helping normal people, the right continues to downplay the situation (which prevents the lockdowns of certain states from having the intended effect) and we are waaaay behind on testing.
What has been repeated here time and time again is that any time anybody expresses any concern about the economic impact of all of this is a monster who’s willing to sacrifice millions of elderly people for the sake of their portfolio. That view is just as ignorant and shortsighted as the folks who think it’s all much ado about nothing. There’s a lot of hysteria going around and I think everybody could do with taking about 20 to 25% off the top there Squirrley Dan.
It is absolutely a legitimate concern to worry about what happens when we come out the other side of this and anywhere between one 1/5 and 1/3 of our economy is gone.
In this nation we have transitioned to a service/consumer-based economy. This is all made very clear to me that is something we should seriously reconsider. I would go so far as to say that the manner in which we have outsourced manufacturing and supply chain logistics to the third world is a national security issue.
There are some very serious constitutional issues and questions regarding the ability of the federal government to take those actions. The reason why most of these actions are being taken at the state level is because that’s their job.
Again, I'm just going to say, I am very much worried about coming out the other side. I have investments that are my only current safety net, a significant percentage of my 401k is in a single company that has absolutely tanked. I am lucky enough to not be laid off yet, but I'm not sure what's going to happen in the coming weeks.What has been repeated here time and time again is that any time anybody expresses any concern about the economic impact of all of this is a monster who’s willing to sacrifice millions of elderly people for the sake of their portfolio. That view is just as ignorant and shortsighted as the folks who think it’s all much ado about nothing. There’s a lot of hysteria going around and I think everybody could do with taking about 20 to 25% off the top there Squirrley Dan.
It is absolutely a legitimate concern to worry about what happens when we come out the other side of this and anywhere between one 1/5 and 1/3 of our economy is gone.
In this nation we have transitioned to a service/consumer-based economy. This is all made very clear to me that is something we should seriously reconsider. I would go so far as to say that the manner in which we have outsourced manufacturing and supply chain logistics to the third world is a national security issue.
Both sides of the aisle have attempted to use this crisis for their own pet projects and policies. It’s fucking disgusting all the way around. So returning to the subject files being willing to sacrifice the elderly, to be perfectly blunt, it wouldn’t hurt my feelings a bit if Rand Paul managed to infect the vast majority of both houses of Congress and most of those fuckers didn’t fare so well.The problem with that is that certain states are literally incompetent. Take a look at these #'s:
Coronavirus Update (Live): 421,413 Cases and 18,810 Deaths from COVID-19 Virus Outbreak - Worldometer
Notice how we have a very small amount recovered compared to the the # sick? That's because we are early in the cycle of things compared to the other countries with high case #'s. Notice how we have double the amount dead to recovered? That should be closer to a 1:1 ration ESPECIALLY because we haven't yet hit the point where our hospitals are overwhelmed.
No matter how you slice it, we are doing an abusurdly poor job of handing things. In large part because Trump is anti-science and in large part because he is prioritizes the 1% and their wealth over all else. And the really fucked up part is that likely means the economic impact gets dragged out (while Trump and the right prioritize corporate bailouts- many of which are caused by problems predating the virus instead of helping working people). Which means not only do I have to worry about my life (as a 33 year old who takes care of myself but has respitory and auto-immune disorders) for the foreseeable future-- I also have to watch as a good chunk of my friends face potential homelessness for the foreseeable future.
Like nobody is saying the economic impact isn't dire. We are saying that it could have been blunted while flatlining the curve. But we are likely past that point now because the GOP is shortsighted and anti-science.
Both sides of the aisle have attempted to use this crisis for their own pet projects and policies. It’s fucking disgusting all the way around. So returning to the subject files being willing to sacrifice the elderly, to be perfectly blunt, it wouldn’t hurt my feelings a bit if Rand Paul managed to infect the vast majority of both houses of Congress and most of those fuckers didn’t fare so well.
The medical experts say that if we don’t stay locked down the infection rates will soar and people will die. Economist say that if we don’t get back to work the economy will completely crash and people will die.Again, I'm just going to say, I am very much worried about coming out the other side. I have investments that are my only current safety net, a significant percentage of my 401k is in a single company that has absolutely tanked. I am lucky enough to not be laid off yet, but I'm not sure what's going to happen in the coming weeks.
I haven't gotten the impression you have from people. What I've heard is people reacting to what the experts say will happen (millions of people dying) if we reopen the economy too soon. Yes the crash of the economy is horrible, for pretty much everyone except the idiots in charge, but the economy would still be crippled if hospitals are so overrun that thousands of people are dying per day due to lack of care, including from non-coronaviris related issues.
I agree with you at least on some degree about manufacturing even if we probably have different preferences about how to bring it back. I'm not sure that would significantly help this disaster though.
For once we have agreement. Both in the things that you think we agree and disagree on.By the way-- we 1000% agree on the need to bring manufacturing back into the US. That's been clear for a long time and I'm glad it's being exposed now. Where we likely disagree is that I would argue that this virus is making it clear that certain industries also need to be nationalized.