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Old 03-16-2020, 03:14 PM
 
27,307 posts, read 16,214,858 times
Reputation: 12102

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Quote:
Originally Posted by bawac34618 View Post
This is the unfortunate reality we now have to deal with thanks to Trump's economic crash. The party is over and life will most likely not "return to normal" for anybody any time soon. Once the virus is over, we'll be left dealing with the worst economic crisis since the Great Depression. Millions are going to lose their jobs and their homes. Businesses will go bankrupt. The entire economy for the next few years is going to be an absolute bloodbath. All bets are off if the world decides to dump the dollar.

1929/2019 - 3.2%
1930/2020 - 8.7%
1931/2021 - 15.9%
1932/2022 - 23.6%
1933/2023 - 24.9%
1934/2024 - 21.7%
1935/2025 - 20.1%
1936/2026 - 16.9%
1937/2027 - 14.3%
1938/2028 - 19.0%
1939/2029 - 17.2%

So is America ready for this? Will we get to 2030 as one country and emerge stronger than before or is this America's "fall of Rome" moment?
What crash?
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Old 03-16-2020, 03:15 PM
 
72,978 posts, read 62,563,721 times
Reputation: 21878
Quote:
Originally Posted by jeffdoorgunner View Post
My father worked his ass off as a farmer............he lived to 83. My grandfather worked his off as a farmer. retired at age 75.......died at age 86. I worked my ass off for 37 years on the railroad,now 70 and relatively healthy...........My father used to say a hard days work never hurt anyone............I think he was right. Just work smart.....
When someone says something like this:
Quote:
You could try moving out into the middle of the woods and learning how to fend entirely for yourself. You would have more work than you could possibly do, if having work to do is so important. Eventually, you will get old before your time because of all the work you will be doing. Your retirement plan would consist of knowing eventually your body cannot manage the workload any longer, and you would probably starve to death.
It doesn't give much assurance. This is how I see it. My father pounded it into met hat I should get an education so I can get a decent paying, comfortable job. He came from working class beginnings, but got into the middle class thanks to a college education.
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Old 03-16-2020, 03:29 PM
 
Location: The Republic of Gilead
12,716 posts, read 7,805,986 times
Reputation: 11338
Quote:
Originally Posted by T-310 View Post
What crash?
Dow is down another 3000 points today.

The economy is in freefall. This is the worst it's been since 1929.
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Old 03-16-2020, 03:35 PM
 
Location: Los Angeles
4,629 posts, read 3,392,091 times
Reputation: 6148
Quote:
Originally Posted by bawac34618 View Post
Dow is down another 3000 points today.

The economy is in freefall. This is the worst it's been since 1929.
No, not true. When we get to 25% unemployment you can say that. Until then you are just full of wild conjecture.
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Old 03-16-2020, 03:37 PM
 
Location: Los Angeles
4,629 posts, read 3,392,091 times
Reputation: 6148
Quote:
Originally Posted by bawac34618 View Post
This is the unfortunate reality we now have to deal with thanks to Trump's economic crash. The party is over and life will most likely not "return to normal" for anybody any time soon. Once the virus is over, we'll be left dealing with the worst economic crisis since the Great Depression. Millions are going to lose their jobs and their homes. Businesses will go bankrupt. The entire economy for the next few years is going to be an absolute bloodbath. All bets are off if the world decides to dump the dollar.

1929/2019 - 3.2%
1930/2020 - 8.7%
1931/2021 - 15.9%
1932/2022 - 23.6%
1933/2023 - 24.9%
1934/2024 - 21.7%
1935/2025 - 20.1%
1936/2026 - 16.9%
1937/2027 - 14.3%
1938/2028 - 19.0%
1939/2029 - 17.2%

So is America ready for this? Will we get to 2030 as one country and emerge stronger than before or is this America's "fall of Rome" moment?
Just stop is already. I did NOT vote for Trump and concur that the guy is a moron. But labeling this as Trump's economic crash? Como on man...just stop it already.
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Old 03-16-2020, 03:40 PM
 
18,801 posts, read 8,464,759 times
Reputation: 4130
Quote:
Originally Posted by bawac34618 View Post
This is the unfortunate reality we now have to deal with thanks to Trump's economic crash. The party is over and life will most likely not "return to normal" for anybody any time soon. Once the virus is over, we'll be left dealing with the worst economic crisis since the Great Depression. Millions are going to lose their jobs and their homes. Businesses will go bankrupt. The entire economy for the next few years is going to be an absolute bloodbath. All bets are off if the world decides to dump the dollar.

1929/2019 - 3.2%
1930/2020 - 8.7%
1931/2021 - 15.9%
1932/2022 - 23.6%
1933/2023 - 24.9%
1934/2024 - 21.7%
1935/2025 - 20.1%
1936/2026 - 16.9%
1937/2027 - 14.3%
1938/2028 - 19.0%
1939/2029 - 17.2%

So is America ready for this? Will we get to 2030 as one country and emerge stronger than before or is this America's "fall of Rome" moment?
He didn't handle it is the best of ways IMO as a doc, but this is the Covid19 crash, not the Trump crash.
The stock markets and economy would have hit the fan no matter who was Pres.

As an armchair economist, IMO the dollar will hold as many continue to move towards its stability and safety.
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Old 03-16-2020, 03:42 PM
 
18,801 posts, read 8,464,759 times
Reputation: 4130
Quote:
Originally Posted by Astral_Weeks View Post
No, not true. When we get to 25% unemployment you can say that. Until then you are just full of wild conjecture.
Maybe short term situational unemployment. But IMO as a doc, medicine will lead the way and we will get back on track in some months.
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Old 03-16-2020, 03:43 PM
 
18,801 posts, read 8,464,759 times
Reputation: 4130
Quote:
Originally Posted by bawac34618 View Post
Dow is down another 3000 points today.

The economy is in freefall. This is the worst it's been since 1929.
At some point in the coming months another really good buy low stock opportunity. Maybe as good as 2008/9.
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Old 03-16-2020, 03:46 PM
 
4,655 posts, read 1,948,561 times
Reputation: 4629
stupid statements like this are why so much of America has had it with the far left. Unfortunately rational Democrats(and they do exist) are all blended in with the crazy. Trump had nothing to do with the Coronavirus and a large part of the economic impact on us started because of supply chain interruptions in China. Something Trump has been railing against for years, unlike Biden who laughed that China is not our enemy

Now Trump and his administration may screw up badly in the next few months making the situation worse than it is but history will judge that. Not a bunch of fear mongering which has caused most of the issues we are having currently. 70 people have died in the u.s. to date, over 100 die each day in Auto accidents but few of us think twice about driving to that store for that so important T.P.
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Old 03-16-2020, 03:48 PM
 
Location: NE Mississippi
25,557 posts, read 17,263,106 times
Reputation: 37268
Quote:
Will America be able to handle 25% unemployment for years?
Another stupid anti-Trump premise posed by the same old people.


Unemployment worldwide will increase and the world's economy will recede.
Until a vaccine is developed. And that might not take as long as Democrats wish. Smart, well equipped, experienced people are working around the clock. Fortunately, there are billions to be made for an effective vaccine, so one will be developed probably within a year or so.
Then the world will begin to recover.


Trump didn't have anything to do with this virus. Either America or Israel will develop the vaccine.
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