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About to see the best US economy data that we have ever seen

Discussion in 'General Politics' started by Mountainmanbob, May 26, 2020.

  1. Mountainmanbob

    Mountainmanbob Goat Whisperer Supporter

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    Dems reportedly warning preelection economic surge could boost Trump

    As President Trump and the rest of the country grapple with an economic downturn and sky-high unemployment rates amid the coronavirus crisis, some Democrats reportedly worry that an explosive economic recovery in the fall could revive Trump’s lagging political fortunes -- and boost his chance at reelection.

    Politico reports that Jason Furman, a top economist in the Obama administration and now a Harvard professor, told a bipartisan group of policymakers last month that “We are about to see the best economic data we’ve seen in the history of this country.”

    &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&

    Trump has been and is ready.
    Biden just left his long stay in the basement.
    M
     
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  2. Monksailor

    Monksailor Adopted child of God. Supporter

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    Anxiously awaiting........
     
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  3. christine40

    christine40 Well-Known Member

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    people in our state are STILL trying to get through on phone line to sign up for unemployment

    the out of work people in our state is extremely high
    don't expect our state to vote your way!


    our town still looks like a ghost town
     
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  4. The Barbarian

    The Barbarian Crabby Old White Guy

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    He better deliver. Real Clear Politics just updated their polls. Rasmussen has him down by 11 points and Fox News has him down by 10 points, and losing to Biden by 8 points nationally. Average of all polls is down by 9.9 points. He'll need to do something soon.
     
  5. pescador

    pescador Newbie Supporter

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    Total fantasy! 23.1 million unemployed and 100,000 dead. The US could have done much better handling this pandemic and it will be a s-l-o-w climb back toward any economic recovery.

    Jason Furman appeared during the government shutdown to explain why it was bad for the economy, taking a bit of pleasure in referencing the “mathematical derivations of all of this.” Last week, after budget analysts unexpectedly warned that the Affordable Care Act could lead millions of workers to quit their jobs or cut back on hours, he raced to brief the president and then to try to persuade reporters the analysis was being misinterpreted.
     
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  6. Richard T

    Richard T Well-Known Member

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    I read this article and found it pretty interesting. It assumes that the USA bottoms out in unemployment and the economy rebounds as states open back up. Of course this assumes too that COVID cases do not overwhelm the hospitals. It pretty much is going to be whether a rebound can occur before the election. Longer term, things like dire to me, as the multiplier effect will work on the downside, and at some point the stimulus money will have to stop.
     
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  7. cappycappy

    cappycappy New Member

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    I believe the economy is doing better than it looks.

    The high unemployment rate is due to many people on furlough - which means they may return to work at some point. And other people who are not trying to look for a job because their UI benefits pay them more. There are actually LOTS of companies hiring right now - and they're hiring thousands of people. I have a list but it's too long to post it here.
    So I don't believe it's that hard to get a job right now.
     
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  8. GreekOrthodox

    GreekOrthodox Psalti Chrysostom

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    It depends on the location and industry. Areas that depend on crowds such as conventions or major league sports for example, may not recover. It isn't just the venues themselves but the businesses that surround those venues such as hotels and restaurants. Office buildings may be vacated or reduced which is going to affect businesses that depend on office workers, including transportation, gyms, and again restaurants. When I worked in downtown Boston, I depended on public transportation, ate and shopped in areas like Chinatown, Downtown Crossing, and the North End. Most of the places are small businesses and dont have the resources to weather a reduction of business. The North End is filled with small restaurants that might only seat 20-25 people and depend on business folks during the week and tourists on the weekends.
     
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  9. GreekOrthodox

    GreekOrthodox Psalti Chrysostom

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    Just to add, as a former family business owner, the failure rate is pretty high, 50% within 5 years of start up. I remember a friend of my dad's asked about going independent and dad told him to have 2 years of savings. So if your job pays $50K, you'd better have $100K in the bank to go full time. 99.7% of business have fewer than 500 employees, Small Business & Entrepreneurship Council, so even a small bump in the road can cause them to fail. I had to close my family's 40 year old business 3 months after my dad died and the companies that I worked with decided they did not want to continue with someone fresh out of college. Its a rough world out there for these small companies.
     
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  10. jgarden

    jgarden Senior Veteran

    +2,492
    Methodist
    About to see the best US economy data that we have ever seen

    Given that the reopening of the economy is based on the individual initiatives of 50 governors and several territories, the President has relegated himself to the sidelines!

    Trump could have done himself a big favor if he had implemented a nationwide testing program with millions of tests conducted daily, starting with those engaged in essential services!

    People would feel much more confident going back to work, eating out at a restaurant or sending their children to school if they knew they everyone was was being tested regularly!
     
  11. The Barbarian

    The Barbarian Crabby Old White Guy

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    But Trump thinks that more testing would make him look bad. And that's the deciding factor for him.
     
  12. jgarden

    jgarden Senior Veteran

    +2,492
    Methodist
    This President and his supporters have a short, selective attention span - 11000 employees in the nation's meet processing plants have been infected with COVID-19 which spread through these facilities like wildfire until they were forced to shut down!

    Unless the nation's school boards are prepared to provide millions of staff and students with their own PPEs, why should we believe that the threat to schools should be any different than that experienced in the meat processing plants - both place large groups of untested individuals together at close quarters, for extended periods?
     
    Last edited: May 28, 2020
  13. hislegacy

    hislegacy This is me.

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    The jobs numbers came out today.

    The "Experts" were saying there would be a loss of 7,000,000 more jobs - yet there was a gain of 2,500,000 the DOW closed at pre corona virus numbers -

    The 'Experts' missed in by 9,500,000 jobs.
     
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  14. The Barbarian

    The Barbarian Crabby Old White Guy

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    So far, we lost about 30,000,000 jobs. So it's good news that we added 7,000,000 last month. That puts us 23,000,000 jobs lost because of the Trump administration's bungled response to the pandemic.

    But we should take good news where we can. It's going to be a rough ride over the next few months.
     
  15. Monksailor

    Monksailor Adopted child of God. Supporter

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    Yes, get to work to figure out a way to blame President Trump for a hot summer.
     
  16. Mountainmanbob

    Mountainmanbob Goat Whisperer Supporter

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    Once again Trump calls the winner
    so called Experts missed the mark.
    M
     
  17. hislegacy

    hislegacy This is me.

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    Pssst..... global warming.....
     
  18. The Barbarian

    The Barbarian Crabby Old White Guy

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    Summers are normally hot. That's the nature of summers. But Trump's botching the pandemic response is the cause of our economic collapse.
     
  19. hislegacy

    hislegacy This is me.

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    Who will you credit when the economy recovers?
     
  20. The Barbarian

    The Barbarian Crabby Old White Guy

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    Like "the pandemic is completely controlled." If he had listened to people who know what they're talking about, it would have saved about 36,000 lives, and prevented the loss of 20,000,000 jobs.
     
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