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Coronavirus and the World's Economy

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  • Originally posted by DenverBrit View Post

    Tragic!!
    I'm sure the last thing people are worried about are the trump businesses.. but if they are hurting so are all the hotel/motel chains and resorts across the country which trickles down to all their employees.

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    • Originally posted by rmsanger View Post

      I'm sure the last thing people are worried about are the trump businesses.. but if they are hurting so are all the hotel/motel chains and resorts across the country which trickles down to all their employees.
      Everyone is hurting in some way.

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      • "To put things in perspective, ten million Americans lost their jobs in March. South Korea, which recorded its first COVID case the same day the US did, handled this pandemic without an economic shutdown because its government took the virus seriously from day one. This medical, economical, and logistical nightmare we are now living, didn’t have to happen." ~ Shirley Siddens

        US response will be studied for generations as a textbook example of a disastrous, failed effort,” Ron Klain, who spearheaded the fight against Ebola in 2014

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        • And now, the Trump cabinet is in the Situation Room fighting each other about the efficacy of malaria drugs. The trade guy, who knows nothing about medicine, is fighting with Dr. Fauci. Idiocracy.

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          • virus bad for health
            trumps lies bad for economy.

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            • Comment


              • Originally posted by Rohirrim View Post
                And now, the Trump cabinet is in the Situation Room fighting each other about the efficacy of malaria drugs. The trade guy, who knows nothing about medicine, is fighting with Dr. Fauci. Idiocracy.
                The sociopath-in-chief is only interested in how he can personally profit from the pandemic.

                The French Connection: Trump Family Trusts Are Invested in Hydroxychloroquine Maker

                https://www.msn.com/en-us/news/polit...BndXR-EfNqK3L4

                Donald Trump Has Stake In Hydroxychloroquine Drugmaker: Report

                https://www.yahoo.com/huffpost/donal...112913777.html

                Trump blocks Fauci from answering question about drug Trump is touting

                America last: Rep. Porter has receipts showing Trump chose a quick buck over American lives

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                • Another round of socialize the losses and privatize the profits?

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                  • The only sane move is to nationalize the failed companies -- instead of bailing them out. Then, you appoint a team of economists to review the books and identify the good and the bad.

                    You write off the bad, keep the good, and re-privatize the company.

                    Oh yes, and you hand over the evidence of malfeasance to the justice department to prosecute those guilty of criminal misconduct.

                    That's how we got through the S&L fiasco and it could work again. Will we have the sense to go this route, now? Probably not. Not with the fed making the decisions.

                    The fed has been the engine of our decline over the last 100+ years. It's a debt machine for the many - and a profit generator for the few. We should treat the fed the same way - nationalize it - appoint a team of economists to review the books...

                    and when the truth of that becomes public...what they have been up to ...look out. The bankers will be running for the hills.

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                    • Originally posted by mhgaffney View Post
                      The only sane move is to nationalize the failed companies -- instead of bailing them out. Then, you appoint a team of economists to review the books and identify the good and the bad.

                      You write off the bad, keep the good, and re-privatize the company.

                      Oh yes, and you hand over the evidence of malfeasance to the justice department to prosecute those guilty of criminal misconduct.

                      That's how we got through the S&L fiasco and it could work again. Will we have the sense to go this route, now? Probably not. Not with the fed making the decisions.

                      The fed has been the engine of our decline over the last 100+ years. It's a debt machine for the many - and a profit generator for the few. We should treat the fed the same way - nationalize it - appoint a team of economists to review the books...

                      and when the truth of that becomes public...what they have been up to ...look out. The bankers will be running for the hills.
                      Why not let bankruptcy process work?

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                      • Originally posted by El Minion View Post
                        Another round of socialize the losses and privatize the profits?


                        $2 Trillion in the hands of a guy who stole $$ from charities and defrauded people with a fake university!

                        What could go wrong?

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                        • Click image for larger version

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                          • ^ Isn't that the truth?!? I've been telling the Trumptards for months that the economy isn't as strong as many indicators suggest it is. This crisis proves it beyond all reasonable doubt. And not only do people need to be "bailed out", but so do businesses.

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                            • Originally posted by L.A. BRONCOS FAN View Post
                              Click image for larger version  Name:	92716195_3092379530793833_3633326394345259008_n.jpg?_nc_cat=105&_nc_sid=8024bb&_nc_ohc=hZHZ_kyYhj0AX8hQ_2t&_nc_ht=scontent.fbkk12-2.fna&oh=f1ae5908fdad35bb0d566ba5d9316c86&oe=5EB6F41C.jpg Views:	12 Size:	58.9 KB ID:	2604349
                              There is a fundamental lack of understanding of economics on both sides of the isle. To sum it all up....

                              There is a near perfect inverse relationship between population size and resources per person. Yes some resources can expand out (e.g. grow more food, mine more resources, build more x/y/z). But in the long run there are upper limits/constraints on resources expansion and in the short-run many resources are fixed.

                              So when you inject massive amounts of population growth in an areas then the demand for land/housing will rise and so will prices. Housing in most metro areas is insanely expensive as demand has risen and the costs of natural resources has also grown with international demand coming on the market. These factors are completely outside of the influence of Bush, Clinton, Putin, Trump, Obama, Xi, etc...

                              As we continue to reproduce exponentially there will be dramatic stresses on prices, supplies, and the distribution of resources over time. Natural disaster & viruses can obviously create supply chain shocks but these are short-term in nature. Our greatest economic enemy is us one would think such an enlightened species would learn how to regulate population controls and self governance. Many other lessor species learn to regulate their own population size for protection of their own survival. But the right and left alike can't seem to understand the problem.

                              We've used deficits, credit, and debt for some time now as a crutch to propagate the economy while combating these dynamics. Eventually the party will end when the leverage ratio gets to high and debts are mass defaulted.


                              https://ourworldindata.org/exports/w...12_850x600.svg

                              https://www.sciencedaily.com/release...1128070536.htm

                              Click image for larger version  Name:	Annual-World-Population-since-10-thousand-BCE-for-OWID-800x498.png Views:	1 Size:	158.0 KB ID:	2604484

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                              • "Resources per person" is governed in an artificial economic system (rentier capitalism) by taxes and regulations, not the ebb and flow of supply and demand. In the last forty years, America has gone from a marginally equitable resource distribution matrix to one which funnels 85% of ALL profit into the vaults of 1% of the population. There is no such thing as a "natural" component or "magic hand" to any of this. It is strictly governed by the political decisions of people in positions of power to allocate resources through taxation and regulation (usually benefitting themselves and their cronies). The rest is smoke and mirrors. (note all the crony insider trading going on lately?)

                                The biggest component in this redistribution plan was the decimation of unions in the 80s which was followed up by NAFTA, the take-down of Glass/Steagle, the globalization of the work force and finally, the Great Rip-Off of 2008, which turned out to be the largest redistribution of wealth upwards in history. Another $1.4 trillion dollar tax bonanza for the 1% by Trump has finished off the deal, revealing an oligarchic/monopolistic controlled economy that has pretty much nothing to do with anything that Adam Smith contemplated. It's really feudal, more than anything else, with the heads of the various monopolies controlling the government through bribery (thanks to Citizens United). Like Jimmy Carter said, we are "...a corporate oligarchy running on unlimited bribery." Throw into the mix the massive debt of unpaid, stupid wars, just for fun.

                                The reason bailouts are needed is because our "leaders" have installed a feudal tax and regulation system on the country that has the majority living month to month as wage slaves (ie. a "rentier" state). Add in, during a pandemic, a profit-based health care system (which helped create the "gig" economy - talk about "feudal") that the majority cannot afford to use and you've got real trouble right here in River City.

                                If there are any historians left in Washington, I'm sure they are advising their government pals that this particular collection of events could easily devolve into the kind of thing that topples governments. In other words, they are bailing out because they better. Meanwhile, many in America are now flirting with the ideas of fascism.

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