Is opening the Economy enough?

Discussion in 'Political Opinions & Beliefs' started by TurnerAshby, May 20, 2020.

  1. TurnerAshby

    TurnerAshby Well-Known Member

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    What do you mean? And why is that the point you want to jump off on in the discussion about opening up the economy?
     
  2. Reiver

    Reiver Well-Known Member

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    It suggests a narrative: i.e. folk irrationally responded to the pandemic. They didn't. Irrationally voting for cretins like Boris and Don predated it. Without government stupidity there wouldn't be a freak out.
     
    Last edited: May 20, 2020
  3. TurnerAshby

    TurnerAshby Well-Known Member

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    Whatever word you would like to use is fine with me as it's not the most relevant part of that imo. There will be another one like this on some level in the fall likely which mean another dip in the economy. So I can't see how McConnell can say wait and see in response to more funding passed by the house.
     
    Last edited: May 20, 2020
  4. Lil Mike

    Lil Mike Well-Known Member

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    The economy is going to be damaged for a long time to come. Tens of thousands (more?) of small businesses will never reopen. And you have to wonder if anyone did want to start a new business, like a restaurant, whether they would get a loan since now banks and credit unions are aware that a stray virus could wipe out any new businesses.

    I think it will be bad for a while, but hopefully merely recession bad, not depression bad.
     
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  5. TurnerAshby

    TurnerAshby Well-Known Member

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    I can understand not liking the house's version of the relief bill but what I dont get is the wait and see in the face of all the obvious evidence. Rewrite it but doing nothing isn't an answer imo.
     
  6. Reiver

    Reiver Well-Known Member

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    You've said nothing relevant to my post, but heck....
     
  7. TurnerAshby

    TurnerAshby Well-Known Member

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    Do you agree or disagree with what I wrote otherwise?

    I'm just trying to talk from a strictly economic perspective. As I think there is a huge amount of people and businesses still hurting right now.
     
    Last edited: May 20, 2020
  8. Surfer Joe

    Surfer Joe Well-Known Member Past Donor

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    Sorry, but there are no more repubs, just trump supporters and everyone else. And trump says he could murder someone in Times Square and his peeps would cheer him on.
    The best thing Americans can do for their country at this point is to get rid of trump.
    Real repubs wouldn't wait until November.
     
  9. Lil Mike

    Lil Mike Well-Known Member

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    Well "stimulus" is meaningless until the country is fully opened and the stimulus can be applied. I opposed much of the first bill for exactly that reason. How did giving $1200 to everyone "stimulate" the economy when everything was closed?

    Right now, the priorities should be the unemployed, and small business. We need better data to make decisions about everything else, and right now we don't have it.
     
  10. struth

    struth Well-Known Member

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    Yeah that we are opening up and we will see if we need it
     
  11. struth

    struth Well-Known Member

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    You maybe right. I certainly agree it will take some time and people will act differently
     
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  12. TurnerAshby

    TurnerAshby Well-Known Member

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    Exactly a stimulus makes MORE sense with states opening than before imo. That could help those small businesses. I mean we dont have the data on the ppp part yes but the rest is straight forward imo. Dont like Pelosis 3t bill fine re work it with just the useful parts. But a wait and see approach is somewhat dangerous as it can come off as tone deaf to average Joe's struggles imo
     
  13. TurnerAshby

    TurnerAshby Well-Known Member

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    I understand that approach for some of the 3t but all of it? There's enough info right now to say average people are hurting
     
  14. Lesh

    Lesh Banned

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    Illinois is currently exploding.

    Good luck.
     
  15. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    With something as complex as our economy, 'enough' is a hard question to answer. For the guy who lost his business after 30 years of hard work, the economy will probably never 'recover.' For those businesses that are 'essential', its probably fine now.

    Its more likely that the economy will be worse in 10 years than it would've been if we hadn't shut down, but its also likely that the difference will be negligeable by then if we open back up soon.

    Theres also a small chance that it could get better because of all this. Anything is possible in the future!
     
    Last edited: May 20, 2020
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  16. struth

    struth Well-Known Member

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    Maybe not all of it...we will have to see. We agree so does the Magority Leader
     
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  17. TurnerAshby

    TurnerAshby Well-Known Member

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    Hope they come up with something sooner than later.. Appreciate the time and decent conversation though!
     
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  18. TurnerAshby

    TurnerAshby Well-Known Member

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    "Cornyn dismissed a $3 trillion bill passed by the House last week as “more of a political statement” and insisted more accountability is needed for the unprecedented $3 trillion Congress already spent before spending even more. Much of the relief funding previously appropriated is still being distributed and it is not yet clear what impact some of those programs will have."

    Stuff like this isn't encouraging though tbh ^^

    I understand it for some aspects of the previous stimulus but a blanket statement isn't sufficient imo especially when you've got guys saying this

    "
    Federal Reserve Chairman Jerome Powell took a different view, underscoring a need for more stimulus to address the crisis.

    “The scope and speed of this downturn are without modern precedent and are significantly worse than any recession since World War II,” Powell told senators."

    " think its quite clear we’ve done nowhere near what will need to be done,” said Erica Groshen, an economist at Cornell University and former commissioner of the U.S. Bureau of Labor Statistics."

    https://komonews.com/amp/news/coron...ency-of-further-coronavirus-stimulus-spending
     
  19. struth

    struth Well-Known Member

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    You too! Stay safe!
     
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  20. jay runner

    jay runner Banned

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    A total comeback by the 3rd quarter or 4th quarter isn't realistic or necessary. A positive trend up off the mat is good enough.
     
  21. struth

    struth Well-Known Member

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    I’m fine with that
     
  22. crank

    crank Well-Known Member

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    I must ask what you mean when you say 'will it be enough'. Enough for what? The old normal? If so, then no it won't.

    It will be - necessarily - enough for the new normal, because the new normal will be whatever is left and/or newly adapted. We need to work to that future, not the memory of days before the genie was out of the bottle.
     
    Last edited: May 20, 2020
  23. Antiduopolist

    Antiduopolist Well-Known Member

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    Yes. No.

    No.
     
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  24. crank

    crank Well-Known Member

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    The sort that explains likely future consumer behaviour very well.
     
  25. crank

    crank Well-Known Member

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    That's a good point. Lending will almost certainly be impacted significantly. Can't see how it wouldn't be.

    Meantime, the First World was definitely due for a correction in terms of business. I don't like it any more than you do (always preferring that the small guy has the forum for enterprise), but it's difficult to ignore the fact that many smaller businesses have been poorly considered, and poorly funded and run. They say two thirds of business owners are not fit for business, and this may be the proving ground of that adage.
     

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