Yes, but we know some of these blue states want to keep the lockdown intact. Regardless, of a lot of people are refusing to abide the restrictions.
Not to get you on the “China” issue, but one of my favorite Chinese food place went out of business here yesterday. I went by the place today and they pretty much cleaned it out (must have happened last night). A Starbucks also closed their doors.
Our governor could care less if these businesses go out. She will use that, to blame Trump. As she has all along.
Its not illegals, its the guest foreign workers visa program, especially the wealthy Chinese nationals who have been buying EB-5 visas like their candy! This has got to stop!
OVER 4800 and gov HOMO has the nerve to give briefings on the virus while the moron dems suck up his bullshit by the buckets load . This is the guy liberals want to draft for their president . WTF ?
I think we’re still kidding ourselves about the enormity and pain of the economic dislocation caused by quarantines around the world. Restarting economies is going to be much harder than we expect.
We are going to see distressing numbers of people sliding from poverty into extreme poverty. In the US, I would not expect the tourist, hotel, restaurant, entertainment, airlines to recover any time soon. The implications of that are likely to spill over into real estate, retail shops, new car sales (and, therefore, the auto industry in general).
Mnuchin says to expect 25% unemployment. He’s probably right, but I think the logical result of that is a deep depression that can only be contained by direct federal payments to individuals. That’s unlikely to happen with the current Congress and President.
Buckle up, it’s going to be a difficult and painful road back from shutting the world’s economy down.
The dichotomy between what is happening in the real world and what is happening in the world of the financiers will lead to violent upheaval on a timeline not anticipated by the ruling class.
So, instead of actually jump starting the economy again and getting everyone back to work you think it would be better for the government just to keep printing money and cutting checks to people? If businesses aren’t open what are they going to buy? They will be limited to supporting mega corporations that do nothing but screw over their own workers and jack up prices for consumers, especially now that they have a captive audience. This has got to be one of the most retarded ideas I’ve ever heard of.
I hope more people start defying the orders by these “power hungry” Governors, who think that the lockdown will somehow “save lives”. The only lives they rather save are those who will vote for these dirtbags.
And I predicted, correctly, that the Great Recession, brought on by the collapse of a giant housing bubble, would be followed by another jobless recovery.
So where does the current slump fit? My reluctant conclusion is that it’s more like the pre-1990 slumps than the more modern episodes.
Why reluctant? Well, I was right about the housing bubble, the Great Recession, and a lot of other stuff around then, and it’s always tempting to revisit your greatest hits. And let’s be frank: Given my politics, I don’t like the idea of Donald Trump riding into November on the wave of a rapidly healing economy, and would like to believe that can’t happen.
But Covid-19 is, in some ways, like the spike in interest rates that generated the 1981-82 recession. It’s something imposed on the economy from outside, as it were, rather than the result of private-sector excess, so you’d expect fast recovery once the outside shock recedes.
Krugman is an economist and not an epidemiologist, or even an epidemic nerd, so he can feel worried that the economy will come roaring back just in time to help Trump win election.
I can assure him this will not happen because the pandemic will not have ended by then. We will have hundreds of thousands of dead Americans going into the election as well.
But if Biden can get the pandemic under control by exercising Federal authority in a positive way, then that boom would accrue to him.
I believe we will have ripples throughout the year, and possibly into early 2021. But I am certain that the economy will be steady; it will not boom as a lot are predicting. But at least, it will be much better than where we were in February/March.
As for Biden, he wouldn’t know the first thing to get the economy going. He doesn’t even know at times where he is.
