Assuming there's not a second wave...you'll see the economy recover steadily...

Discussion in 'Economics' started by Cuddles, May 19, 2020.

  1. destriero

    destriero

    The thing eventually mutate into a seasonal flu. Nothing you can do when confronted with a SARS-like virus that's literally 2x the R0. Thermal denaturing won't work with this fucker and it's blowing up with temps over 100. That whole argument was beyond specious. Thermal denaturing requires temps that would kill the host.

    Worse, some absurd number are being reinfected.
     
    #51     Jun 25, 2020
    Overnight likes this.
  2. Sig

    Sig

    "Some groups" based on what, your learned opinion? Why don't you take a look at hospital profits over the past 3 months and tell me what you find, just to highlight one absurdly wrong assertion you're making from a place of utter ignorance? And while you're at it, why don't you look up the voting record for the CARES Act. I'll wait while you list the Republicans who voted for it and the Republican President who signed it.
     
    #52     Jun 25, 2020
  3. piezoe

    piezoe

    However the U.S. response to SARS was vastly different than the do nothing approach adopted by the Trump administration in dealing with Covid-19. The Trump administration left U.S. States and Territories on their own and pretended Covid was just go way on its own. . .
     
    #53     Jun 26, 2020
    SunTrader likes this.
  4. Turveyd

    Turveyd

    And that was correct, it will go away on it's own, sooner if left alone, or later if slowed down via lockdowns.

    Lockdowns don't get rid of, only slow it down, you get this right ??

    South Korea, Germany both got it back, they'll lockdown again and they'll get it back again.
     
    #54     Jun 27, 2020
  5. SunTrader

    SunTrader

    Failure to Launch
    Donald Trump said the economy was taking off like a rocket ship. In reality, it’s exploding.

    https://slate.com/business/2020/06/economy-struggling-coronavirus-rocket-ship.html

    The Republican Party’s entire response to the coronavirus crisis has been rooted in a magical belief that the U.S. could fix its economy without controlling the pandemic that tanked it. Both Donald Trump and GOP leaders in Congress bet that allowing states to reopen for business would set the country up for a quick, V-shaped economic recovery without causing the pandemic to spiral out of control, sparing lawmakers from having to pass another expensive relief package and saving Trump the hassle of orchestrating a coherent public health response.

    That gamble is playing out just as poorly as everyone should have expected. COVID-19 is now blazing across the Sun Belt, with terrifying flare-ups in Arizona, Texas, Florida, South Carolina, and Southern California. On Wednesday, the number of new daily cases in the U.S. hit its all-time high since the pandemic began, while hospitalizations have reached new peaks in seven different states, putting to rest the idea that rising infection counts are simply a result of increased testing. We do not know exactly why the disease has begun roaring across the South and West. But as the Atlantic’s Alexis Madrigal and Robinson Meyer explained in a lengthy piece Monday, “what unites some of the most troublesome states is the all-or-nothing approach they took to pandemic suppression.” In the mad dash to get back to normal life, some of these states allowed businesses and churches to rapidly reopen with loosely enforced capacity restrictions, without pushing for residents to wear masks. Texas and Arizona even went as far as to ban cities and states from enforcing their own, tighter social distancing rules.(To be fair, SoCal is having problems despite a much more cautious approach.)

    What does this mean for the economy Republican leaders were so antsy to reignite? It appears to be sputtering.

    After the government released a better-than-expected jobs report for May, Trump gave a triumphant press conference where he declared that the economy was lifting off fast. “We’ve been talking about the V,” he said. “This is better than a V. This is a rocket ship.” To anybody paying close attention to the data, the optimism seemed obviously premature. Employment had ticked up as states first began to reopen and small businesses received funds from the Paycheck Protection Program to rehire staff. But with the coronavirus still raging, and many businesses still closed or stuck operating at partial capacity, there was plenty of reason to think that job growth would slow back down. At the moment, that’s what appears to be happening.


    On Thursday, the Department of Labor reported that another 1.5 million Americans filed for unemployment benefits. The fact that job losses are still happening this long after states first shut down in March suggests that more businesses expect a long-lasting downturn and may be folding entirely. (Coincidentally, Yelp reported that of the 140,000 businesses on its platform that reported still being closed, 41 percent have been shuttered permanently.) Meanwhile, after falling sharply last month, the share of workers on the unemployment insurance rolls is now barely inching down, from 12.9 percent the week ending May 16 to 12.3 percent the week ending June 13. In short, the rocket ship appears to have made it a few hundred feet, veered off course , and started decelerating while whirling toward the sea because, oh, crap, there wasn’t actually enough fuel in the boosters and the crew all had hacking coughs.

    [​IMG]
    Federal Reserve Bank of St. Louis

    Why aren’t people returning to work faster? In all likelihood, it’s because even in states that jumped to reopen, the recovery has been losing steam. Take Texas. On measure after measure, economic activity in the state flatlined or began to droop in June. Hours worked at small businesses. Consumer spending. Restaurant bookings and revenues. All stalled out. And on Thursday, Gov. Greg Abbott finally announced that he would “pause” any further reopening of the state in order to slow the coronavirus’s accelerating spread. He tried to put a positive spin on the move. “The last thing we want to do as a state is go backward and close down businesses,” he said. “This temporary pause will help our state corral the spread until we can safely enter the next phase of opening our state for business.” But it underscored the fundamental impossibility of fully restarting the economy when there’s a plague raging. Other Sun Belt governors have yet to take official action like Abbott. But even in those states, the recovery has showed similar signs of slowing, perhaps because there are a limited number of Americans who are willing to risk their lives in order to go get brunch. :p

    When Trump began talking about a quick reopening in March, back when he was fantasizing about church pews full in time for Easter, countless experts and pundits warned that it was a path leading to disaster, a worst-of-all-worlds scenario where the economy would be unable to fully recover because Americans would still be unable to live their normal lives due to the virus. One weak lockdown and trillions of dollars in aid later, the president’s and the Republican Party’s unwillingness to take this pandemic seriously seems to have landed us in exactly that awful position. And if Congress doesn’t act before the end of July, the economy stands to collapse further as crucial unemployment benefits expire and out-of-work Americans see their incomes collapse by more than half, on average. We’re not riding a rocket ship. We’re in its wreckage.
     
    #55     Jun 27, 2020
    piezoe likes this.
  6. piezoe

    piezoe

    You missed out on the reason we did not have a bad experience with SARS. It was because of the GOVERNMENTS quick and coordinated -- world wide -- response before the virus got a foothold in the U.S.

    In the Covid-19 instance, this quick and effective GOVERNMENT response was missing -- totally missing -- from the Trump Administration. The response was actually worse than doing nothing. Instead the Trump administration lied -- as usual -- and did nothing. However Trump was quick to announce how surprised people were to find out how much he knew about viruses. Indeed Mr. "President."

    Details of the U.S. response to the SARS threat may be found here:

    https://www.ncbi.nlm.nih.gov/books/NBK92460/

    See as well:
    https://www.bloomberg.com/opinion/a...rrifying-rise-in-u-s-covid-cases-is-explained

    For an opinion on why the U.S. response has been so much less effective than that of other nations.
     
    Last edited: Jun 27, 2020
    #56     Jun 27, 2020
    d08 likes this.
  7. Turveyd

    Turveyd

    SARS was harder to spread, possibly more deadly but there still claiming 4.8% mortality for Covid which is ridiculous, it's not reached 0.2% anywhere yet, so hard to say if accurate but likely not.

    Got to think, they knew it's not required, the Lockdowns aren't required, some social distancing to slow the spread fair enough, but that in the UK on it's own had caused a Peak.

    Simple Logic is, it'll keep spreading until there is no 1 knew to get to, it's very hard to completely irradicate, I think only New Zealand has managed this, although I see still a few cases, only takes 1 of them to spread to everyone so they'll get hit again sooner or later.

    ICU's in my local district in the UK have Zero patients in them for Covid, cases are nothing and the lockdowns been well ignored by most for 6weeks, which means no 2nd wave as we've all had it, saw it before from NYC and London data, most people just aren't badly affected if at all, thankfully, they just go unnoticed which makes it seem like it's going to be worse.
     
    #57     Jun 27, 2020
  8. In principle, the way it is, but many are inclined to believe that the second wave will be.
     
    #58     Jun 30, 2020
  9. Turveyd

    Turveyd

    Florida is First Wave, if you lockdown and kill the 1st wave then it'll come back.

    Basic logic, until everyone who can have it has had it, it'll keep going around unless you try very very very hard early on.

    More Suicides caused by the lockdown in the UK these days mainly Hanging than Covid deaths.
     
    #59     Jun 30, 2020
  10. d08

    d08

    I know of at least a few who died of Covid. Also, most deaths are in nursing homes where most of the old people have no-one left. So if they have no relatives or friends, they don't exist according to your logic?
     
    #60     Jun 30, 2020