Economist agree no quick rebound from recession

[Mountainmanbob]

Economists agree: No quick rebound from recession is likely

WASHINGTON -- Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating.

Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the year. If more employees and consumers were to gradually return to working and spending, the idea goes, the economy might be able to mount a sharp comeback.

Yet most economists have the same response: Keep such expectations in check.

The U.S. economy shrank at a 4.8% annual rate in the January-March quarter, the government estimated Wednesday, as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record.

Yet the drop in the first quarter will be only a precursor of a far grimmer report to come on the current April-June period, with business shutdowns and layoffs striking with devastating force. With much of the economy paralyzed, the Congressional Budget Office has estimated that economic activity will plunge this quarter at a 40% annual rate.

That would be, by a breathtaking margin, the bleakest quarter since such records were first compiled in 1947. It would be four times the size of the worst quarterly contraction on record set in 1958.

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Went online looking for a few of our favorite businesses today. Most said temporary closed but, a couple said now permanently closed.

One was a Sees Candy store.
Other Black Angus Steak House.

I hate that.
M

 

[Hazelelponi]

Yeah, I've been saying this, even if we were to get a vaccine and reopen everything this week and have everything instantly back to normal many businesses will still never be able to open their doors again... the damage has been done.

The longer it goes on, the more will shut their doors forever, and with 40% of all businesses in this country being small businesses, I think it will have long term effects on the economy as a whole.

I do hope we can hang in there though and keep most of it going. I do wish Congress would stop pushing stupidity like cannabis and other idiocy and get to the matter at hand and provide relief to the people or just plain stop all the nonsense and let life get back to normal without arresting people for wanting to feed their families...

 

[Radagast]

Yeah, I've been saying this, even if we were to get a vaccine and reopen everything this week and have everything instantly back to normal many businesses will still never be able to open their doors again... the damage has been done.

The longer it goes on, the more will shut their doors forever, and with 40% of all businesses in this country being small businesses, I think it will have long term effects on the economy as a whole.

It's easier to break the economy than to fix it.

 

[Mountainmanbob]

Won't take long for China or their lost supporters to chime in and say, it's not worth losing ONE life because of opening too soon.

How many will die not only here but, around the world if the US economy doesn't al least try to get restarted?

Foriegn countries that depend on donations from many of the kind ones, churches etc in the US are already saying that the American monies coming to them have dropped off drastically.

There are no easy answers.
BTW -- Trump is doing his very best.

M

 

[Hazelelponi]

...

 

[now faith]

It will not take China long to globalize our ecomony,when they buy out America.
A three trillion dollar stimulus that will benefit blue states?
I continually here about what Trump is this and that.
Its as if people are parrots for CNN.
Does anyone understand basic economics?
Could anyone possibly stop and wonder why every media outlet is pushing hatred on the President, and those who Vote for Him.
The power of propaganda is stunning .
Thank God most God fearing Americans have a loyalty, and patriotism for America.
What will the actions of those who seek to destroy our way of life be under a Communist regime?
Historically china and,Russia combined murdered sixty million people when they took power.

2 Thessalonians 2:8 And then shall that Wicked be revealed, whom the Lord shall consume with the spirit of his mouth, and shall destroy with the brightness of his coming: 9 Even him, whose coming is after the working of Satan with all power and signs and lying wonders, 10 And with all deceivableness of unrighteousness in them that perish; because they received not the love of the truth, that they might be saved. 11 And for this cause God shall send them strong delusion, that they should believe a lie: 12 That they all might be damned who believed not the truth, but had pleasure in unrighteousness.

 

[The Barbarian]

And a recent Columbia University study indicates that this economic/medical disaster would have been much less severe if we had started social distancing even one week earlier than we did.

U.S. Could Have Saved 36,000 Lives If Social Distancing Started 1 Week Earlier: Study

Trump brought this on all of us. But now there's an accounting to be had.

More Americans are souring on Trump's coronavirus handling, new polling shows
WASHINGTON — Two months since the coronavirus turned into a full-blown crisis, it’s not just that President Trump’s brief poll bump is gone.

It’s that his numbers have started to drop into danger territory for a president facing re-election, according to a pair of new political surveys released in the last 24 hours.

A Fox News poll shows Trump’s overall approval rating now at 44 percent — down from 49 percent in April and 48 percent in March.
More Americans are souring on Trump’s coronavirus handling, new polling shows

 

[now faith]

And a recent Columbia University study indicates that this economic/medical disaster would have been much less severe if we had started social distancing even one week earlier than we did.

U.S. Could Have Saved 36,000 Lives If Social Distancing Started 1 Week Earlier: Study

Trump brought this on all of us. But now there's an accounting to be had.

More Americans are souring on Trump's coronavirus handling, new polling shows
WASHINGTON — Two months since the coronavirus turned into a full-blown crisis, it’s not just that President Trump’s brief poll bump is gone.

It’s that his numbers have started to drop into danger territory for a president facing re-election, according to a pair of new political surveys released in the last 24 hours.

A Fox News poll shows Trump’s overall approval rating now at 44 percent — down from 49 percent in April and 48 percent in March.
More Americans are souring on Trump’s coronavirus handling, new polling shows

How did Columbia arrive at this conclusion?
Has this been proven scientifically?
Does this study Blame Trump,or are there other people involved?

The paper says that if restrictions had taken effect on March 8, the New York metropolitan area would have had at least 209,987 fewer cases and 17,514 fewer deaths.

The study was funded in part by the National Institutes of Health, the National Science Foundation and the Morris-Singer Foundation. The researchers' findings are in "pre-print" status, meaning their article hasn't been certified by peer review.

The WallStreet Journal posted this on march 3rd

New York state and local officials are trying to quell public concerns about the spread of coronavirus on public transportation with assurances that the virus can only be transmitted through close contact..

It seems that House Speaker Pelosi criticized President Trump,for His travel ban.
I believe February 23rd She toured Chinatown promoting tourism in her district.

So its Trumps a racist over the travel Ban,that was the Narrative by the media at that time.

The CDC is closely monitoring the situation in the United States, is conducting enhanced entry screening at 5 United States airports where the majority of travelers from Wuhan arrive, and is enhancing illness response capacity at the 20 ports of entry where CDC medical screening stations are located. The CDC is also supporting States in conducting contact investigations of confirmed 2019-nCoV cases identified within the United States. The CDC has confirmed that the virus has spread between two people in the United States, representing the first instance of person-to-person transmission of the virus within the United States. The CDC, along with state and local health departments, has limited resources and the public health system could be overwhelmed if sustained human-to-human transmission of the virus occurred in the United States. Sustained human-to-human transmission has the potential to have cascading public health, economic, national security, and societal consequences.

Trump Along with other Countries banned flights from China on Feb 6th.
As we can see the C.D.C was already monitoring people arriving from China.
The long process of passing out gold pens and railroading a President finally ended on Feb 5th
Then shortly after it was fun time in Chinatown


> BUSINESS OWNERS TELL IT, THIS CORONAVIRUS SCARE IS HAD AN ENORMOUS IMPACT. >> SPEAKER NANCY PELOSI TOLD HE SHE CAME HERE TO COMBAT FEAR. >> THAT\u2019S WHAT WE\u2019RE TRYING TO DO IS SAY EVERYTHING IS FINE HERE. COME. PRECAUTIONS HAVE BEEN TAKEN. THE CITY IS ON TOP OF THE SITUATION. >> THE SPEAKER GREETED BY SHOP OWNERS WITH OPEN ARMS. >> I LOVE IT. >> SHE VISITED A SHOP. A TEMPLE. AND A CHINA TOWN ICON THE GOLDEN GATE FORTUNE COOKIE FACTORY STARTED 58 YEARS AGO. HIS BUSINESS HAS BEEN DECIMATED. >> I WENT DOWN 75%. >> HE BELIEVES FEAR OF THE VIRUS IS RACIALLY MOTIVATED. >> IT IS. I COUGH A LITTLE BIT. THEY LOOK AT ME. OH, LIKE THIS. SCARY. >> SHE WALKED TO LUNCH AND HUGGED FRIENDS, WAVED TO ONLOOKER AND DOWN PLAYED THE RACISM ISSUE SAYING SHE UNDERSTANDS PEOPLE ARE CONCERNED ABOUT CHINA. >> THAT SHOULDN\u2019T BE CARRIED OVER TO CHINA TOWN IN SAN FRANCISCO. I HOPE THAT IT\u2019S NOT THAT. ALL I CAN SAY IS I\u2019M HERE. WE FEEL SAFE AND SOUND. >> NANCY PELOSI SAID SHE IS CONCERNED THAT THE PRESIDENT\u2019S BUDGET PROPOSAL CUTS 19% FROM THE CENTERS FOR DISEASE CONTROL. THE PRESIDENT IN INDIA TODAY SAID THE CORONAVIRUS IS UNDER CONTROL IN THE UNITED STATES.","video_id":"1702063683808_896","video_length":"125525","video_provider":"mpx","alleypack_schedule_unpublish":"","feed_remote_id":"mpx_1702063683808","feed_thumbnail_url":""}" data-livestream="false" data-title="Nancy Pelosi Visits San Francisco’s Chinatown Amid Coronavirus Concerns" data-vidcid="1:4:2241075" data-vidurl="Nancy Pelosi Visits San Francisco’s Chinatown Amid Coronavirus Concerns" data-islead="true" data-catnames="{"245076":"News","478":"Local","499":"U.S. & World"}" data-tagnames="{"9712":"Chinatown","283441":"coronavirus"}" data-customdata="{"ContentPartner":"None","Source":"WEBFM","SyndicationAllowed":"true","mSNVideoCategories"







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Speaker of the House Nancy Pelosi toured San Francisco's Chinatown Monday to send a message. She said there's no reason tourists or locals should be staying away from the area because of coronavirus concerns.

"That’s what we’re trying to do today is to say everything is fine here," Pelosi said. "Come because precautions have been taken. The city is on top of the situation."

Pelosi visited The Wok Shop, a temple and the Golden Gate Fortune Cookie Factory, which was started 58 years ago by owner Kevin Chan's mother and uncle.

 

[now faith]

So I sincerely do not know how anyone can presume its Trumps fault for 30,000 people dieing.
That is unsubstantiated due to Political biases.
From Russia investigation,to the gold pen of nothing,our president has one fault.
He won the election.
Myself I lost my Sister in November.
She was undergoing Chemo,and came down with a rapid moving case of Pnomina.
She died in 3 days.
You know we would have used the Hydroxychloroquine if it was offered.

 

[now faith]

I'm done Chasing rabbit trails to defend Trump
Our future in in the Hands of the American People
Thank you

 

[The Barbarian]

How did Columbia arrive at this conclusion?

In the analysis, researchers applied transmission models to data drawn from the pandemic's actual course county by county in the U.S. — the worst-hit nation in the world. The main focus of the study was the period from March 15 to May 3, when U.S. states and counties implemented "measures enforcing social distancing and restricting individual contact."


And if restrictions had gone into effect in the U.S. two weeks earlier, researchers found, nearly 54,000 people would still be alive and nearly a million COVID-19 cases would have been avoided.
U.S. Could Have Saved 36,000 Lives If Social Distancing Started 1 Week Earlier: Study

Has this been proven scientifically?

Standard epidemiology. No surprise there. Same methods that predicted over 100,000 deaths here, 2 months ago.

Does this study Blame Trump,

Doesn't blame anyone, far as I can see. Who do you think bungled the response? You think Trump wanted to take action earlier, and someone stopped him? Who do you think forced him to do nothing?

or are there other people involved?

We now know, that government scientists urged him to take action early. Is that what you mean? Or do you mean that he had advisors who told him to do nothing before it was too late to save all those people's lives? Or do you mean Trump's pronouncements that it was completely controlled, fooled state and local officials into a false sense of security,like this:

New York state and local officials are trying to quell public concerns about the spread of coronavirus on public transportation with assurances that the virus can only be transmitted through close contact..

It seems that House Speaker Pelosi criticized President Trump,for His travel ban.
I believe February 23rd She toured Chinatown promoting tourism in her district.

So its Trumps a racist over the travel Ban,

Why is it always about race for Trump people? The travel ban wasn't the issue. His failure to take effective action in time, is what caused all those deaths. Try to focus. It's not about race; it's about Trump's failure to act in time that killed all those people.

 

[The Barbarian]

So I sincerely do not know how anyone can presume its Trumps fault for 30,000 people dieing.
That is unsubstantiated due to Political biases.

Nope. Just the consequences of not acting in time. That's what killed those people. The study documented that if social distancing were implemented in a timely manner, tens of thousands of deaths would have been prevented.