Economy Unemployment could hit 32%... 47 million lost jobs

[rob mafia]

It's fine if one or a few people want to roll the dice. It's irresponsible to let everybody have the choice to roll the dice. People would be unnecessarily put further at risk than they already are. It would also cause an unnecessary workload on the healthcare industry. If millions were infected at the same time that could have catastrophic results. There were videos of people dropping dead on the streets before China scrubbed them off the net. We don't have enough data at this point in time to determine accurate statistics regarding death rates, permanent injury, recovery, etc.. Common sense tells me that if worldwide governments are putting their citizens on lockdown and accepting the economic destruction then this is something serious and to not be taken lightly.

yeah, i can't think of any reason why governments would want to extend power.

Good, so if you choose to not kill yourself, what threat/arrest/fines are the government imposing on you? Stupid comparison, it's a choice to kill yourself no matter how you want to spin it.

 

[vanillaisis]

yeah, i can't think of any reason why governments would want to extend power.

So you believe they've all just been waiting for this exact moment in time of a pandemic for the chance to make a power grab? Willingly letting their economies get wasted? I guess it's plausible if you're a true CTer.

 

[rob mafia]

So you believe they've all just been waiting for this exact moment in time of a pandemic for the chance to make a power grab? Willingly letting their economies get wasted? I guess it's plausible if you're a true CTer.

so you can't even fathom a concept of opportunism? rahm emmanuel thanks you.

 

[vanillaisis]

so you can't even fathom a concept of opportunism? rahm emmanuel thanks you.

I can fathom the concept. It's a rather ridiculous one. Nations who aren't under lockdown or having their populace ravaged by a virus are in a better position economically and geopolitically than those who are at this present moment in time. Why would a nation willingly plunge itself into economic ruin when the opportunity to become richer and more powerful while others are struggling is available?

 

[rob mafia]

I can fathom the concept. It's a rather ridiculous one. Nations who aren't under lockdown or having their populace ravaged by a virus are in a better position economically and geopolitically than those who are at this present moment in time. Why would a nation willingly plunge itself into economic ruin when the opportunity to become richer and more powerful while others are struggling is available?

because politicians always have the good of the people in mind.

 

[vanillaisis]

because politicians always have the good of the people in mind.

 

[HockeyBjj]

No.

Wonderful logic. Great sources. Great analysis. You’ve sure changed my mind on the matter.

 

[K1levelgrappler]

 

[Raptac]

So you believe they've all just been waiting for this exact moment in time of a pandemic for the chance to make a power grab? Willingly letting their economies get wasted? I guess it's plausible if you're a true CTer.

Never let a good opportunity go to waste.

If the opportunity arises for whatever reason, you don't think many will take advantage of..

 

[Jesus H. Sherdog]

Isn’t the mortality rate around 2-2.5%?

So if we do nothing and maybe 50% of the US pop gets sick that’s about 165 million getting sick

2% of them die

Which is 3.3 million deaths. Yeah, that won’t effect the economy.

Then you have to consider if hospitals are dealing with 165 million sick people how many more deaths occur just from healthcare resources being nil. How many births prevented, or other collateral damage from lack of resources?

The long term effects may be worse with no attempt to slow this down. I’m not an expert on such analyses, but I’m smart enough to know that I’m not the expert.

 

[monster zero]

Hmm.... don't worry. We just gave 4.25 trillion to the banks and you will get a check for $1200 (mabye) in 4 months (or sometime).

Quoted again in case anyone missed this ^

This will go on until they believe people have been inside long enough to be ok with the 4 trillion.

"Well if we let them out tomorrow they'll start asking about the bailout."

"You're right, keep them inside for another month until they lose it and then we can manipulate how we record deaths and say we past the curve. They wont even question it then they'll just be thankful it's over."

 

[Letssnuggle]

Wonderful logic. Great sources. Great analysis. You’ve sure changed my mind on the matter.

ROFL That’s the exact opposite position, with the same amount of factual data, you presented. You have no moral high ground.

These are simply two opinions of equal value. Who the hell gives a damn about your mind. LOL

 

[ShadowRun]

I feel deeply terrible for the people losing their asses off this ordeal. Ultimately though suicide is a choice. Nobody has to kill themselves.

If I was high risk would it be my choice to make no contact with anyone , stay home and have zero contact of outside products without sanitation?

 

[vanillaisis]

If I was high risk would it be my choice to make no contact with anyone , stay home and have zero contact of outside products without sanitation?

Yes it is your choice to whether you make contact with anyone or not. Everybody right now should be practicing the most extreme measures possible to ensure and preserve their current and future health as well as their families. I know staying at home sucks. We're going to get through this. At the end the businesses that pop up will be even better than before.

 

[ShadowRun]

Yes it is your choice to whether you make contact with anyone or not. Everybody right now should be practicing the most extreme measures possible to ensure and preserve their current and future health as well as their families. I know staying at home sucks. We're going to get through this. At the end the businesses that pop up will be even better than before.

How do you know this ?

 

[BarackLesnar]

Great time to finish projects...maybe pull some weeds or clean out the garage.

 

[7437]

If I was high risk would it be my choice to make no contact with anyone , stay home and have zero contact of outside products without sanitation?

Depends on if you have enough money and a job that allows you to do that.

Statistically in the USA, very unlikely.

I've been pretty open about being an electritian who works in a factory before. I have great health benefits, and am not in any real danger. My coworker who has leukemia however, has a slightly larger issue. Dunno about his finances, but we arent just getting months off plant is still running. Another coworker has a son with some kind of serious medical condition. I assume he has money, he bought a 5th wheel and now sleeps outside so that his family can survive. That's just in my shop, and we are by far the best paid group in the plant. Cleanup crew makes.... half what I do, maybe. They better hope they dont have a sick kid.

 

[Jorge Luis Borges]

If we did that then everyplace would be like New York

Maybe. Maybe even probably. But also possibly not.

I am very conflicted over this. A heavy price was paid but possibly a worse fate was averted. However, it can't be ignored that the reality has been much less severe than what was predicted, and those predictions factored in the effects of the shut down and cutting air travel, etc.

I do feel strongly that those speaking of maintaining the shut down for weeks, months, and beyond are insane. It needs to end soon.

edit: Fwiw, I think estimates of 32% unemployment are also probably way too pessimistic. I hope I am right.

 

[Deleted member 555403]

...more like what good is a quarantine/shut down doing for you when you can't work/get $ and need to buy __________.

i don't fear covid at all. i'd fear rioting/looting/burning of cities.

goddamn this is cuck shit

Grown men believing in the fairy tales capitalism sold them is so pathetic. Grow up. We are the most advanced technological society to ever exist on top of being the richest. Maybe since the government is the only game in town we should cut out the middle men and provide for people's material needs in a time of crisis.

Nope have to make up numbers to bail out banks so the lowest common denominator can keep the faciticious capital dream alive while they plunder the dole yet again

 

[Fanu]

Whats the point of good corporate governance and fiscal responsibility? The companies that leveraged themselves to the moon, did stock buybacks to hyper-inflate their stock price, live on constant debt instead of good balance sheets are now being bailed out by unlimited QE. Free money to cover your mistakes. Why would anyone run a good business ever again? Just cheat and scheme and get bailed out later.

PE, hedgies, shady billionaires were screwed because the economy just halted and companies were going to default on these risky loans since they had no revenue coming in. This is who JPow is helping. He just bailed them all out by buying these risky junk bonds on the back of the American tax payer. You may become homeless and starve, but private equity, hedge fund managers, and shady billionaires will be made whole by the fed.

This is literally the premise understood after the 2008 financial crisis bailouts. Plus, overleveraged companies outperform in boom markets thus overtaking or pushing out “responsible” peers. Meanwhile they get shit on in downturns and propped up with bailouts and money printers. The only lesson to be learned is that taxpayers always foot the bill.


How long are US tax payers willing to take it in the ass for the benefit of the 1%? This is now Russia level of getting fucked in the ass by the government (stealing from tax payers and routing that money towards politicians and big companies based in cayman islands..)

But hey, at least (part of) middle class got that below minimum wage check for 1200usd - that should keep you warm for a minute.

USA today > cut throat capitalism for the poor, socialism for big companies on the backs of the workers