Will the Covid-19 Recession Turn Into a Covid-19 Depression? (debt, tax, financial)

[Member1]

From a COVID-19 Recession to COVID-19 Depression?

[Electrician4you]

What a bs article. There was nothing natural progression into a recession or this upcoming “depression”. . There as no market downturn because people decided to stop shopping, investing or spending. Or some financial calamity to cause a downturn. The only reason this economy came to a slam halt stop was because governments decided to do a mass quarantine and shut down the economy. Otherwise people wouldn’t care. They would be shopping visiting etc. The ones who are worried....stay home and quarantine if you want. Businesses should be allowed to be open and of a person chooses to go in and shop...go in and shop. Nine of this only essential business. If a employee chooses not to come to work fine they don’t get paid or they can use up vacation or sick leave.
I made a choice to go to work, shop when I need to and keep my wife mostly at home. But that’s a choice we made.


Jesus Christ we had the Hong Kong flu in 1969. 80,000 people died in that pandemic. And they didn’t shut down the country.

[redguard57]

Originally Posted by Electrician4you

What a bs article. There was nothing natural progression into a recession or this upcoming “depression”. . There as no market downturn because people decided to stop shopping, investing or spending. Or some financial calamity to cause a downturn. The only reason this economy came to a slam halt stop was because governments decided to do a mass quarantine and shut down the economy. Otherwise people wouldn’t care. They would be shopping visiting etc. The ones who are worried....stay home and quarantine if you want. Businesses should be allowed to be open and of a person chooses to go in and shop...go in and shop. Nine of this only essential business. If a employee chooses not to come to work fine they don’t get paid or they can use up vacation or sick leave.
I made a choice to go to work, shop when I need to and keep my wife mostly at home. But that’s a choice we made.


Jesus Christ we had the Hong Kong flu in 1969. 80,000 people died in that pandemic. And they didn’t shut down the country.

Any reduction in consumer spending due to people staying home out of fear of a disease would by definition cause a slowdown in the economy. If it was enough people, a recession, a lot of people, a depression

[Philip T]

In the case of the US it is just showing the underlying conditions that will cause US Recession -> Depression -> Fail.

+ Compounding Debt + Refusal to Tax Corporations and Imports.
+ Overspending on Military -- and going more so every year.
+ Price Gouging US on Medical + Refusal to go to Medicare for All.
+ Sticking with outdated technology (Oil and ICEs)
+ Do not support actual education

If we moved past these and instead -- Taxed Corporations and Imports, cut the US Military, set US up with M4A, Moved our technology up to 2020, and educated the kids . . . .

We would sail to the top. But we will not until the [Boomer/Reaganomics/Neo-Liberal/Hayek] Die-off.

This last 40 years of Stupid + Greed has really taken US down.

Covid-19 is not the real problem. It is just making it show through.

[Serious Conversation]

So far, we've been propped up by government spending. That's mostly ending and we'll see where the cards fall.

[redguard57]

Originally Posted by Serious Conversation

So far, we've been propped up by government spending. That's mostly ending and we'll see where the cards fall.

They're going to restore it soon. Trump and the Republicans' resistamce is wearing down.

[Frenchfries22]

Originally Posted by Electrician4you

What a bs article. There was nothing natural progression into a recession or this upcoming “depression”. . There as no market downturn because people decided to stop shopping, investing or spending. Or some financial calamity to cause a downturn. The only reason this economy came to a slam halt stop was because governments decided to do a mass quarantine and shut down the economy. Otherwise people wouldn’t care. They would be shopping visiting etc. The ones who are worried....stay home and quarantine if you want. Businesses should be allowed to be open and of a person chooses to go in and shop...go in and shop. Nine of this only essential business. If a employee chooses not to come to work fine they don’t get paid or they can use up vacation or sick leave.
I made a choice to go to work, shop when I need to and keep my wife mostly at home. But that’s a choice we made.


Jesus Christ we had the Hong Kong flu in 1969. 80,000 people died in that pandemic. And they didn’t shut down the country.

The lockdowns didn’t work because people and businesses and govt didn’t take them seriously enough. If a virus has no human to infect it will die surely.
Procedures for its control weren’t followed as much as needed

[Serious Conversation]

Originally Posted by redguard57

They're going to restore it soon. Trump and the Republicans' resistamce is wearing down.

I really don't think much will go to the average person. More aid to large businesses? Absolutely.

[rose88]

The article doesn't show any good data or stats. It is a personal opinion.

I personally think the economy will dramatically improve when we get close to the election.

[tickyul]

If Trump wins, he HAS to shake-off the stupidity of shutting-down the country for a
snifflysnuffly virus that has a very low death-rate.

If not, and Biden gets into the WH, it just may turn into a really nasty disaster.