How bad is this economy going to get?

Discussion in 'West Mall' started by AustinHorn24, Apr 1, 2020.

  1. mchammer

    mchammer 10,000+ Posts

    If the estate owed federal taxes I would be hard pressed not to deposit.
     
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  2. Joe Fan

    Joe Fan 10,000+ Posts

     
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  3. Joe Fan

    Joe Fan 10,000+ Posts

    Given that Krugman is usually wrong about everything, this probably means we will see a V-shaped recovery

     
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  4. Joe Fan

    Joe Fan 10,000+ Posts

     
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  5. Mr. Deez

    Mr. Deez Beer Prophet

    I don't think that's particularly smart. He doesn't get to decide who gets arrested. What I'd do is leave Alameda County altogether and go somewhere that isn't crazy. And as someone who used to live in Alameda County, it was crazy before this and will be even crazier after this. He should go somewhere else and offer to take his employees with him.
     
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  6. Joe Fan

    Joe Fan 10,000+ Posts

    The WSJ says "Elon Musk Is our new ACLU" - we definitely need one but I am not sure he is the guy for that. But still ....
    Opinion | Elon Musk Is Our New ACLU
     
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  7. Joe Fan

    Joe Fan 10,000+ Posts

    Nancy Pelosi & Co's latest stimulus proposal includes billions to illegal aliens ($1,200 each).
    And amnesty, of course.

    Want to try and guess what they are calling it?
    The HEROES Act
    Cannot make this shyte up
     
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  8. Joe Fan

    Joe Fan 10,000+ Posts

     
  9. Monahorns

    Monahorns 5,000+ Posts

    Tesla should just file for bankruptcy and Musk move on to something profitable.
     
  10. Joe Fan

    Joe Fan 10,000+ Posts

     
  11. Joe Fan

    Joe Fan 10,000+ Posts

    More on Pelosi - only ~2m

     
  12. nashhorn

    nashhorn 5,000+ Posts

    They have to make sure they can blame the heartless GOP when they oppose it.
     
  13. Austin_Bill

    Austin_Bill 2,500+ Posts

    Never give an inch to the Democrats, they will destroy this country. Republicans need to look at them like Churchill looked at Hitler and the Nazis.

    This is a wake up call for everyone who loves this country, fight this in any way possible. They are not helping this country they are killing it. They are putting us into slavery and not just us, but our children.

    I don't understand how blue collar union men can agree with what they are doing. We have lost every right we are guaranteed by the Constitution. Once they destroy the 2A we will have lost. We are slaves.
     
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  14. Monahorns

    Monahorns 5,000+ Posts

    Austin_Bill, we are close to getting to slavery in my mind. The government has just learned it can order businesses closed and they will. They just learned they can order you in your home and we stay. Churches didn't hold Easter services in person because of executive order. Those who meet today only do so because the government '"lets" them.

    Austin_Bill, the 2A is important but the Federal Government is hollowing out society's value on freedom. The 2A won't be much of a obstacle. Hope I am wrong.
     
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  15. Joe Fan

    Joe Fan 10,000+ Posts

    Back to the original question, the answer is it is looking bad. I originally thought we would be going again by now (mid-May).

    If we keep this going for another 2 months, we are looking at potentially losing HALF the American workforce. That could happen. Easily. And, if so, these lockdowns could actually end the United States of America. The situation is that dire. There is a giant debt/unemployment train coming. There will be mortgage failures which will lead to bank failures which will lead to the failure of large corporations (i.e., the large employers). And sooner rather than later.

    Even if we re-opened everything today, the snowball is already rolling downhill. It is a crazy idea to think you can just stop a nation’s economy. Ever. For any reason. And then just re-start it like nothing happened? We are about to find out. Stopping this economy may go down as one of the more disastrous decisions in American history. Maybe THE worst of all time.

    I get it that it is a hard decision. That there will be casualties. It's a very tough call to have to make. But you cannot shy away from it either. You have to weigh it against the potentially larger catastrophe of causing another Great Depression, collapse of Govt and possible splintering of the union itself. Then ask -- how many casualties would that cause? I hate this idea of that we should be hiding under our beds, waiting for the bad stuff to pass. That is not what we do. If we are going down, let us at least go down fighting.
     
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  16. nashhorn

    nashhorn 5,000+ Posts

    Dems win.
     
  17. Joe Fan

    Joe Fan 10,000+ Posts

     
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  18. 4th_floor

    4th_floor Dude, where's my laptop?

    We definitely need to open the economy ASAP. But the depression that is coming does not have to be the 2nd great depression. If the government gets out of the way, as they did in 1921, the depression can be short lived.

    Hopefully Trump gets reelected and finds his inner-Calvin Coolidge.
     
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  19. Monahorns

    Monahorns 5,000+ Posts

    JF,

    Yes, and it is all the fault and hubris of government. The pandemic was going to harm the economy by itself but the degree of harm we are seeing is government. This is central planning wrote large, declaring what businesses are "essential" and "nonessential". It is fascism. We tried it sucks. Let's not ever do it again.
     
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  20. Monahorns

    Monahorns 5,000+ Posts

    4th, the $2T money creation and disbursement will mean that the recovery is slow and long. Only way to change that is to increase reserve requirements of banks, raise Fed rate, and tighten lending laws.

    It took us 10 years to get out of the 2008 recession. It will take at least that all other things being equal.
     
  21. Mr. Deez

    Mr. Deez Beer Prophet

    I don't think it'll take that long unless the government makes it take that long. I think states that react with sanity will recover within a few years. In fact, they might thrive as businesses flea states that are reacting with insanity. Hell, if you're a business in Los Angeles or Alameda County you have to be looking at options for getting out if possible.
     
  22. Monahorns

    Monahorns 5,000+ Posts

    That is my point. The "stimulus" package has already been unleashed on the economy. It may be counter intuitive, but the extra money extends the life of unproductive activities. It slows recovery and ultimately kills economic growth.

    It doesn't matter what state a business is in either, because this is the Fed we are talking about.

    The government has to get their fascist tentacles out of the economy. They were slowly killing before the lockdowns. The lockdowns are a fast death.
     
  23. nashhorn

    nashhorn 5,000+ Posts

    $2T so far and now the, gag, Heroes Act. And I predict the Dems will win again. This is a spectacularly idiotic bill.
     
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  24. Austin_Bill

    Austin_Bill 2,500+ Posts

    If Trump signs that bill he is selling us all into slavery. The Republican party will be all but gone. Democrats will not only win but there will cease to be anything but Democrats in government.

    You guys remember when all those Democrats said they would leave the country if Trump became president, I'm seriously thinking of getting the hell out of this country. Right now Switzerland, Norway, and Finland are looking pretty good.

    Or maybe I need to take a page out of Breaking Bad, it seems that if the Democrats win crime will no longer have punishment. I'm over 50 with health issues, what will they do to me in this new era. They are set to release all prisoners over 50 or have health issues.

    It's going to be an ugly time to be an American.
     
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  25. Mr. Deez

    Mr. Deez Beer Prophet

    I don't think it's counterintuitive. If you hamd out cash for not working, people are less likely to work. Makes all the sense in the world. Not every stimulus is equally bad, though I don't see a lot of good in any of it. I think the $600 unemployment supplement is a horrific mistake.

    Having said that, I think the real economic fascism will come at the state level. I think the Senate will keep the worst and permanent ideas from becoming law. However, if some crackpot Los Angeles County supervisors decide to do something idiotic, there's no one to check them.
     
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  26. Joe Fan

    Joe Fan 10,000+ Posts

    What a bunch of time-wasting chodes

    [​IMG]
     
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    Last edited: May 15, 2020
  27. mb227

    mb227 de Plorable

    Another Pelosi special that 'we have to pass it to know what is in it.'
     
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  28. Joe Fan

    Joe Fan 10,000+ Posts

    Dems have thrown in towel on trying to learn how to meme
    So they are just buying the #1 meme host to kill off all the funny ones
    What a bunch of sad, pathetic losers

    "Facebook Buys Giphy For $400 Million As Tech Giant Pledges To Banish All "Hateful Memes"
    Scoop: Facebook to buy Giphy for $400 million
     
  29. Horn6721

    Horn6721 10,000+ Posts

    Gohmert drops the mic
     
  30. AC

    AC 2,500+ Posts

    Warren Harding and the Forgotten Depression of 1920 - Intercollegiate Studies Institute: Think. Live Free.
    Warren Harding was just Elected Pres in 1920 and he did the opposite of all modern Presidents and completely avoided a Depression in 1920-21. Coolidge was VP then. Anyway, he cut deficits by 50% and paid off Debt with Tax Revenues. The Great Depression came under FDR in 1929 and throughout the 30's by starting "shovel ready" jobs programs and printing more money. Deficits grew big under FDR.

    Are we repeating History and then some in 2020?
     
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