How Can Trump "Reopen" The Economy When He Never Closed It In The First Place? (employment, fast food)

[redguard57]

A $2 Trillion stimulus is not going to be enough to counteract the kind of job losses that are showing up.

We are going into unprecedented territory.

[Rocko20]

Originally Posted by redguard57

A $2 Trillion stimulus is not going to be enough to counteract the kind of job losses that are showing up.

We are going into unprecedented territory.

Yup, and that’s an understatement

Americans displaced by the coronavirus crisis filed unemployment claims in record numbers last week, with the Labor Department reporting Thursday a surge to 3.28 million.

https://www.cnbc.com/2020/03/26/week...PostToFacebook

[redguard57]

Originally Posted by Rocko20

Yup, and that’s an understatement


https://www.cnbc.com/2020/03/26/week...PostToFacebook

If it's 3.3M now, added to the 5M unemployed that means the unemployment rate is likely something like 6-8% right now. it will probably be 5-6M in another couple weeks. That will take us to close to 2009 territory. And this is just the beginning.

[Therblig]

Originally Posted by redguard57

We are going into unprecedented territory.

But - again - not unpredicted territory. The mechanism was simply more sudden and of lower probability than sudden erosion of mid-tier jobs.

[SWFL_Native]

LOL if people don't believe our economy has been shut down to a major extent you clearly aren't aware of how things work.

[skeddy]

Congress just passed a bill that keeps everybody on the payroll. Relax.

[Therblig]

Originally Posted by skeddy

Congress just passed a bill that keeps everybody on the payroll. Relax.

The humor thread is two doors down.

[Larry Caldwell]

Originally Posted by redguard57

A $2 Trillion stimulus is not going to be enough to counteract the kind of job losses that are showing up.

We are going into unprecedented territory.

The stimulus is way bigger than that:

$1.5 trillion from the Fed in new money
$1.2 trillion ongoing deficit stimulus program
$2.0 trillion CV bailout package
$0.7 trillion health care stimulus passed last month
__________________
$5.4 trillion total for this year, and it's only March.

Wait until things really get bad and people start to panic. They could end up expanding the national debt by 40% in a single year. I have to wonder how often they can go to the well before it runs dry. The dollar is already starting to drop.

[Nanny Goat]

Individual states/counties are in charge pretty much, but T wants attention and admiration so he says it.

[rstevens62]

Originally Posted by skeddy

I never said a word about the borders we can go back to work here without opening out borders or allowing others into the country. People are free to stay home as long as they want. Employers are free to fill their positions if they don't report to work. It's not complicated.

My state is getting ready to issue a 'stay at home' order, starting on 3-30 and lasting 3-4 weeks, EVERYTHING will close, except for grocery stores and pharmacies, (gas stations will close too), I work for one, our regional DOO was discussing this today, its something we have NEVER done, majority of our stores are 24 hour stores, we are planning to have one person to 'babysit' the store, at each location.


The global economy may survive this, but the US economy certainly will not...no way in hell.