U.S. suffered worst quarterly contraction on record

[GreatLakes4Ever]

No one is talking about boats...go start a thread on that.....

Yeah, if I was required to defend Trump, I would avoid talk of responsibilities of leadership at all costs. Even if it means playing dumb because you are way too smart to be convincing at being this stupid.

 

[civilwarbuff]

I think it was going to happen no matter what but not this bad before Covid19. The Fed started printing money last September in order to increase liquidity so that big banks could lend to smaller banks (the repo market it is called, if I have that right).
The economy was being propped up for quite a while, but it was showing problems before Covid19 showed up.

The economy has been propped up (Quantitative Easing) by the fed since 2008 as well as stimulated by congress (Shovel ready jobs anyone). Some day you have to pay the piper for all the music.

What I fear is that the economy crashes more, and because of all the money printed,
currencies will devalue and inflation will be bad - like in the 70s.
Some friends on Facebook were commenting about having a hard time finding some canning supplies - which reminded me of the 70s and a shortage we had at that time because folks were trying to garden and can more. They were trying to do this, but it is hard without the supplies:

The Bible tells us to lay up stores in the good times to be prepared for the bad times......

 

[Paulos23]

After attacking Trump's coronavirus-related China travel ban as xenophobic, Dems and media have changed tune

Because the travel ban did not include Americans returning from China, it is still xenophobic and not effective.

Who did he fire and when?

The global pandemic office set up after the Ebola epidemic.

Coronavirus: Did Trump's decision to nix pandemic team hinder response

What playbook? Everyone admits this virus was completely new and unknown.

The one the Obama administration left. The playbook lists types of infectious disease threats that could emerge. “Novel coronaviruses” were among pathogens flagged.

Evidence Shows Obama Team Left A Pandemic ‘Game Plan’ For Trump Administration

 

[GoldenBoy89]

No one is talking about boats...go start a thread on that.....

Nice dodge.

And no, I’m not talking about cars either.

 

[civilwarbuff]

Yeah, if I was required to defend Trump, I would avoid talk of responsibilities of leadership at all costs. Even if it means playing dumb because you are way too smart to be convincing at being this stupid.

It is my way of saying inane comments are not helpful to the discussion.....sorry you didn't catch it.

 

[GreatLakes4Ever]

The economy has been propped up (Quantitative Easing) by the fed since 2008 as well as stimulated by congress (Shovel ready jobs anyone). Some day you have to pay the piper for all the music.

The Bible tells us to lay up stores in the good times to be prepared for the bad times......

The Fed wanted to pull back quantitative easing in summer 2019 and Trump was against it https://twitter.com/realdonaldtrump/status/1163472273388576768?s=21

 

[durangodawood]

How exactly did Trump cause a severe drop in 2nd quarter GDP?

How exactly did I say he caused it?

Tho now that you mention it, he might have helped a little by taking the problem seriously instead of blowing it off.

 

[GreatLakes4Ever]

It is my way of saying inane comments are not helpful to the discussion.....sorry you didn't catch it.

https://twitter.com/realdonaldtrump/status/398887965302091776?s=21

Who is the leader right now? It’s supposed to be the President. If it isn’t Trump you have given a better reason than the Democrats will ever be able to give on why to vote Trump out in November.

 

[FreeinChrist]

But wouldn't that take work? And isn't that when they built houses fairly small and most of a lot was a back yard for gardens? You know the time they thought it wise that everyone should actually be able to do things to survive? Weren't we told that it's really just silly to think about doing those things now days?

Who told you that?

Many Americans, of all political backgrounds, have gotten into the convenience that has been available in the US, probably Canada and other places, too. They run to the store for supplies in front of a hurricane, when it would have been wiser to have a store of canned goods and rice and beans and alternative ways to cook. Most rely on their phone and TV and don't have a battery operated radio for when power is down. Or battery operated lights.

 

[civilwarbuff]

Because the travel ban did not include Americans returning from China, it is still xenophobic and not effective.

Ah, just strand them where they are.....I can just imagine the howls of faux outrage from the LSM and left.......

The global pandemic office set up after the Ebola epidemic.

Coronavirus: Did Trump's decision to nix pandemic team hinder response

From your source:
WASHINGTON—In May 2018, President Donald Trump’s biodefense preparedness adviser warned that a flu pandemic was the country’s No. 1 health security threat, and the U.S. was not prepared.

“We know that it cannot be stopped at the border,” Luciana Borio, director of medical and biodefense preparedness at the National Security Council, said at a symposium that day.

Borio left the Trump administration in 2019. Other high-level global health experts headed for the exits even earlier, after the White House dismantled the National Security Council’s global health security office.

Doesn't sound as if he fired anyone......

“Novel coronaviruses” were among pathogens flagged.

Yep, MERS and SARS.....didn't see any covid19 on that list though....oh, maybe because as I noted it was a new and previously unknown virus that does not seem to operated like MERS and SARS.....

 

[civilwarbuff]

Nice dodge.

And no, I’m not talking about cars either.

I don't have much tolerance for inane comments.....

 

[civilwarbuff]

Who is the leader right now? It’s supposed to be the President. If it isn’t Trump you have given a better reason than the Democrats will ever be able to give on why to vote Trump out in November.

You still have not explained how he is responsible for a pandemic that originated in China.

 

[GoldenBoy89]

I don't have much tolerance for inane comments.....

Then you can ignore them when they come up.

 

[civilwarbuff]

Then you can ignore them when they come up.

Taken care of......

 

[Fantine]

How exactly did Trump cause a severe drop in 2nd quarter GDP?

While other countries have contained the spread of the virus through following the recommendations of scientists and epidemiologists we have let our numbers soar through ignorance and failure to act. With 5% of the world's population, we have 25% of the world's cases. This is due two Trump's mishandling of the virus.

 

[civilwarbuff]

While other countries have contained the spread of the virus through following the recommendations of scientists and epidemiologists we have let our numbers soar through ignorance and failure to act. With 5% of the world's population, we have 25% of the world's cases. This is due two Trump's mishandling of the virus.

WHO reports record daily spike in COVID-19 cases

So much for that theory.......

 

[GreatLakes4Ever]

You still have not explained how he is responsible for a pandemic that originated in China.

He’s not responsible for the pandemic happening. He is responsible for the federal government’s response to it.

The statement that this will all go away in the heat was wrong. 15 cases down to zero was wrong. The China travel ban accomplished almost nothing because most of the cases that originated outside of the US came from Europe. He refused to utilize the Defense Production Act to get more PPE. He allowed states to have to compete against each other for ventilators, this raising prices, rather than using the purchasing power of the federal government to lower prices. There was no national lockdown/reopening plan. He demanded states open up quicker than the epidemiologists were suggesting. He pushed unproven medicines.

I don’t blame Trump for a pandemic happening, I blame him for how he responded. If he doesn’t want that responsibility, that’s fine, he can step down as president.

 

[GreatLakes4Ever]

WHO reports record daily spike in COVID-19 cases

So much for that theory.......

The United States was 24.5% of new cases on the day listed in the article. I would say comes pretty close to proving the statement correct.

 

[FreeinChrist]

The economy has been propped up (Quantitative Easing) by the fed since 2008 as well as stimulated by congress (Shovel ready jobs anyone). Some day you have to pay the piper for all the music.

The Bible tells us to lay up stores in the good times to be prepared for the bad times......

The Fed hasn't been printing money continually since 2008. We supposedly had the "greatest economy ever" while Trump is president yet we have a huge debt. Most families could not cover a $400 emergency.

But the Fed has been printing money since September 2019, during the "best economy ever". When recessions occur, the usual response is to lower interest rates and print money. But our interest rates are already real low. And we were already printing money to maintain liquidity since Sept.

I attended a conference where are Swiss banker was talking about liquidity and the Great recession. US banks try to maintain an 7% liquidity. AT the worst of the recession in 2009, liquidity got down to 0.7%. He was discussing how a liquidity of 0% is the end of the money system as we know it. We were teetering.

My paid advisors expect stagnation on the market and high inflation. I don't think many are prepared for that.

 

[FreeinChrist]

WHO reports record daily spike in COVID-19 cases

So much for that theory.......

Yeah, a daily spike largely because of the US and Brazil which followed Trump's lead.