The Coronavirus

[Zeitgeist]

1 minute ago, ProudConservative said:

I feel sorry for Donald Trump... He works his ass off to give us a booming economy, and now his legacy will be the Great Depression president.

You never know.  He has shown some humility lately.  I liked what he said about working with the governors.  Doug Ford has sounded very sensible lately.  People surprise you.  We all want the same outcomes on the most part.  

[Yzermandius19]

3 minutes ago, bush_cheney2004 said:

 

...and that's OK.   "Live by the sword (economy)...die by the sword (economy)."

Yet his approval rating holds steady and most American's approve of how he's handling the situation. It's Nancy Pelosi and the Democrats who y'all should feel sorry for, blocking emergency spending bills because they don't have enough giveaways to the green energy sector, talk about shooting yourself in the foot.

Edited March 24, 2020 by Yzermandius19

[bush_cheney2004]

Just now, Yzermandius19 said:

Yet his approval rating holds steady.

 

Actually it has gone up slightly,  and few blame Trump for the virus (except the Chinese government).

If Trump (and Trudeau for that matter) can lead their respective nations out of the abyss even in halting steps, they will be rewarded politically.

 

[Yzermandius19]

2 minutes ago, bush_cheney2004 said:

 

Actually it has gone up slightly,  and few blame Trump for the virus (except the Chinese government).

If Trump (and Trudeau for that matter) can lead their respective nations out of the abyss even in halting steps, they will be rewarded politically.

 

The vast majority of those who blame Trump were never going to vote for him anyway, meanwhile many of those who don't blame Trump are swing voters.

Democrats blame Trump you say? They would blame him no matter what his response was, so no big deal.

Edited March 24, 2020 by Yzermandius19

[Guest ProudConservative]

I'll tell that the government is going in way too early with the stimulus. The stock market wants to collapse. Why are these morons risking hyper-inflation, by going all in prematurely. What they need to do is plug a few leaks... Wait until the storm is over... then bail out as quickly as possible.

Let the rookies buy the dip... Please government stop trying to buy the dip with our tax dollars... This fiscal-conservative doesn't approve. Safe some of your ammunition, for when you're going to need it.

Steven Harper's "Canadian Economic Action" plan, was the way to go. It was moderate, and well targeted. He kept Canada strong during the great recession.

Edited March 24, 2020 by ProudConservative

[Dougie93]

1 minute ago, ProudConservative said:

I'll tell that the government is going in way too early with the stimulus. The stock market wants to collapse. Why are these morons risking hyper-inflation, by going all in prematurely. What they need to do is plug a few leaks... Wait until the storm is over... then bail out as quickly as possible.

Let the rookies buy the dip... Please government stop trying to buy the dip with our tax dollars... This fiscal-conservative doesn't approve. Safe some of your ammunition, for when you're going to need it.

The enviroment is actually deflationary right now, with the central banks having blown the ballast tanks and boat still sinking, the threat is actually a wage & price spiral

Otherwise known as a depression

[Guest ProudConservative]

Look at our communist government acting like a bunch of despotic dictators.

"Liberal bill on coronavirus would give feds power to spend, tax without parliamentary approval"

https://globalnews.ca/news/6720551/justin-trudeau-coronavirus-support-bill

Edited March 24, 2020 by ProudConservative

[Yzermandius19]

1 minute ago, Dougie93 said:

The enviroment is actually deflationary right now, with the central banks having blown the ballast tanks and boat still sinking, the threat is actually a wage & price spiral

Otherwise known as a depression

Worrying about inflation in a deflationary spiral is just silly. That's a level of extreme fiscal conservatism that is clearly counter-productive.

Edited March 24, 2020 by Yzermandius19

[Moonlight Graham]

13 minutes ago, Zeitgeist said:

It just has to be a scaled down situation for a while, keeping it simple with family and home cooked meals, board games and walks, with smart money and household management on the side.  Everyone wants to keep the ball rolling, and it will. Ask Sisyphus.  

The amount of layoffs are going to be massive.  People not leaving their houses is really, really bad for economic activity.  When businesses aren't making money, they lay off workers, and some businesses will fold.  When those workers and business owners aren't making money anymore, they're spending less money in the economy.  Not good.  And this isn't going to go away in the next few weeks.

[Dougie93]

1 minute ago, Yzermandius19 said:

Worrying about inflation in a deflationary spiral is just silly.

Wait till they find out that deflation is actually worse than inflation. 

[Yzermandius19]

3 minutes ago, Moonlight Graham said:

The amount of layoffs are going to be massive.  People not leaving their houses is really, really bad for economic activity.  When businesses aren't making money, they lay off workers, and some businesses will fold.  When those workers and business owners aren't making money anymore, they're spending less money in the economy.  Not good.  And this isn't going to go away in the next few weeks.

It really isn't, and hoping that all the economic damage can be reversed within weeks or a few months is clearly yet another example of wishful thinking being a helluva drug.

Edited March 24, 2020 by Yzermandius19

[Guest ProudConservative]

In December. The governments around the world should of had a R&D arms race... Spend billions each on Vaccine development, and take whatever one is safe, and comes first.

The next time their is an outbreak the world community should come out with $100 billion total, and race for a vaccine in 3 months.

Edited March 24, 2020 by ProudConservative

[Yzermandius19]

Just now, Dougie93 said:

Wait till they find out that deflation is actually worse than inflation. 

Those who don't already know that already are economically illiterate anyway.

[Dougie93]

1 minute ago, Yzermandius19 said:

Those who don't already know that already are economically illiterate anyway.

Chaos is a ladder, let slip the vultures to feast on the carnage

[Guest ProudConservative]

2 minutes ago, Yzermandius19 said:

It really isn't, and hoping that all the economic damage can be reversed withing weeks is clearly yet another example of wishful thinking being a helluva drug.

I think it will take at least 10 years to fix all the damage.

[bush_cheney2004]

I went to the store today for "essential" supplies, and just as predicted, buying patterns and shelves are returning to normal now that people have gotten over their initial hoarding mania....except for toilet paper...that remains scarce as hens teeth because it is not warehoused in great quantities anyway.

Bread, milk, eggs, cereal, canned soup, other dairy, etc. were readily available.   Dairy was in such oversupply before the outbreak there was no way for the virus to stop it unless all the farmers and truck drivers are in quarantine.  I scored two boxes of Hostess Ding-Dongs®.

So basically people are adjusting to this new (temporary) normal.

[Moonlight Graham]

2 minutes ago, Yzermandius19 said:

It really isn't, and hoping that all the economic damage can be reversed withing weeks is clearly yet another example of wishful thinking being a helluva drug.

Imagine the economic impact of virtually every restaurant in the world shutting its doors to all but deliveries/takeout.  Imagine every restaurant in the world tomorrow empty or closed.

You're right, recovery won't be overnight.

[Guest ProudConservative]

In the end, you will find that the governments spent over 100 times more on bailouts then on Vaccine development. When they went cheap in the begging, it f@cked everyone over.

I rather spend more on R&D, and less on bailouts.

Edited March 24, 2020 by ProudConservative

[bush_cheney2004]

1 minute ago, ProudConservative said:

I think it will take at least 10 years to fix all the damage.

 

No way...recovery will be much faster than that.   Pent up demand will be unleashed and cheap debt will rule again.

[Yzermandius19]

3 minutes ago, ProudConservative said:

I think it will take at least 10 years to fix all the damage.

If FDR 2.0 takes the reigns, then sure. If not, most of the damage will likely be fixed a little quicker than that.

Edited March 24, 2020 by Yzermandius19

[Dougie93]

29 minutes ago, Zeitgeist said:

Energy East!

Western Canadian Select $7.23 / barrel

[Guest ProudConservative]

1 minute ago, Moonlight Graham said:

Imagine the economic impact of virtually every restaurant in the world shutting its doors to all but deliveries/takeout.  Imagine every restaurant in the world tomorrow empty or closed.

You're right, recovery won't be overnight.

Yeah, wedding venues, sports stadiums, travel, and general retail, as people hoard money out of fear... This is going to screw everything up.

[bush_cheney2004]

1 minute ago, Moonlight Graham said:

Imagine the economic impact of virtually every restaurant in the world shutting its doors to all but deliveries/takeout.  Imagine every restaurant in the world tomorrow empty or closed.

You're right, recovery won't be overnight.

 

The restaurants that previously expanded to take-out and web orders were already in a better position to survive.

Years ago places like Pizza-Hut got rid of the extra overhead costs for sit-down restaurants in favour of a order-take out storefront only.

[Dougie93]

3 minutes ago, ProudConservative said:

I think it will take at least 10 years to fix all the damage.

It will likely never be the same, the market forces at this scale will alter the terrain permanently, not necessarily for the worse, there will be winners & losers

[bush_cheney2004]

Just now, Dougie93 said:

It will likely never be the same, the market forces at this scale will alter the terrain permanently, not necessarily for the worse, there will be winners & losers

 

Right...same as before.   Creative destruction.