04-09-2020, 08:58 PM
Another 6.6 million filed initial unemployment claims, for a total of 16,780,000 in the last three weeks. And last week's misery was revised upwards by 219k initial unemployment claims. Here’s the Fed’s numbers:
https://fred.stlouisfed.org/series/ICSA
The Chairman of the Fed says the American economy is deteriorating with “alarming speed.” Really. How surprised we all are.
https://www.msn.com/en-us/news/us/fed-ch...r-BB12o0Ak
Similarly, former 11-year NYT reporter Alex Berenson thinks we’re going about it all wrong, that we’re wreaking too much economic devastation. Quelle surprise. He says the models are all wrong. Oh.
https://www.foxnews.com/politics/ex-nyt-...-narrative
Just in case you were curious, about 1,000 Americans have been thrown out of work for every COVID-19 death. More than 1,000 families devastated so a diabetic, heart failure, hypertense old person like me could live a few extra years. And 44% of New Yorkers currently fear eviction and don't know how they're going to pay their rent. Gosh. That's surprising.
https://www.sfgate.com/opinion/article/A...186836.php
Yes, there's going to be financial devastation. Here's an early signal: the Fed is seizing control of the entire American bond market. It'll make it easier to print money to get to the hyperinflation that's coming. Sure will make it easier for people to pay their rent with inflated dollars.
https://finance.yahoo.com/news/fed-seizi...33849.html
The Fed’s intervention is widening the gap between the haves and the have-nots. Trump's little gift to the rich paying even more dividends! The great part is that the half of America that is distressed will come after the rich with a vengeance. Good thing they don't have guns. Oh wait...they do.
https://www.hellenicshippingnews.com/the...have-nots/
We may be financially devastated, but at least we're all mentally strong Americans. Or, uh, maybe not. The pandemic is taking its toll on America’s mental health:
https://www.wsj.com/articles/coronavirus...1586433603
So. It's time to stop. Time to go back to work. Implement every safety precaution we possibly can, sequester the truly vulnerable, implement drug trials when and where possible, use old drugs for new uses, bring the new vaccine to market. In short, everything we're already doing. But make sure that we have a country that is not devastated, a country where people are employed and productive and at least satisfied; instead of poor and unemployed and scared and bored and resentful and angry. Humans don't do well under that much stress. And yes, I'm fully aware that I'm advocating a policy that will cause many more people like me to die. Bummer of a birthmark, Hal.
Frankly, I'm a little surprised that the rich and upper middle class folks who populate this board don't understand that sacrifice must be made. The Greatest Generation understood it. The last three don't, not at all. It's fiction, but the captain of this ship understood it. A mast breaks in a squall, taking a sailor with it. The ship starts to capsize, and will be doomed if the captain doesn't make the difficult decision to cut the broken mast and his sailor loose, or it will pull the rest of the boat under. Which he does, losing one life to save 187 lives.
https://www.youtube.com/watch?v=qNB0LDIeIwM&t=93s
China understands it. When the Chinese stopped publishing realistic statistics, I realized that they decided to go the "screw it" route. They implemented what public safety measures they could, they made the vulnerable stay in place, then decided to make sure people stayed employed and that they didn't ruin their economy. I have no doubt that their official death toll is 1/10th of what it actually is, and could ultimately be higher. Who would know? So it doesn't surprise me that China encouraged international travel and sat on the official results. Not incidentally, they will emerge from this crisis as the unquestioned global leader, and America will be a distant...well, I hope second, but who knows? And make no mistake, we didn't stall the economy...we stopped it in its tracks. And it won't come back.
Obviously it's time to stop the current disastrous policy, but you proponents of that policy can rest easy. It won't happen here. The people on this board who advocate the destruction of America's economy to save a small percentage of the 330 million have the resources to care for themselves personally, and don't have to care about the tens of millions whose lives are now ruined or the country that will be financially devastated.
The good part is that the economy will be so devastated that chaos will reign, and while Bernie Sanders and Elizabeth Warren won't be elected, their policies will be implemented. Soak the rich is right around the corner. Probably not a French Revolution or October Revolution for those who desperately deserve it, but who knows?
https://fred.stlouisfed.org/series/ICSA
The Chairman of the Fed says the American economy is deteriorating with “alarming speed.” Really. How surprised we all are.
https://www.msn.com/en-us/news/us/fed-ch...r-BB12o0Ak
Similarly, former 11-year NYT reporter Alex Berenson thinks we’re going about it all wrong, that we’re wreaking too much economic devastation. Quelle surprise. He says the models are all wrong. Oh.
https://www.foxnews.com/politics/ex-nyt-...-narrative
Just in case you were curious, about 1,000 Americans have been thrown out of work for every COVID-19 death. More than 1,000 families devastated so a diabetic, heart failure, hypertense old person like me could live a few extra years. And 44% of New Yorkers currently fear eviction and don't know how they're going to pay their rent. Gosh. That's surprising.
https://www.sfgate.com/opinion/article/A...186836.php
Yes, there's going to be financial devastation. Here's an early signal: the Fed is seizing control of the entire American bond market. It'll make it easier to print money to get to the hyperinflation that's coming. Sure will make it easier for people to pay their rent with inflated dollars.
https://finance.yahoo.com/news/fed-seizi...33849.html
The Fed’s intervention is widening the gap between the haves and the have-nots. Trump's little gift to the rich paying even more dividends! The great part is that the half of America that is distressed will come after the rich with a vengeance. Good thing they don't have guns. Oh wait...they do.
https://www.hellenicshippingnews.com/the...have-nots/
We may be financially devastated, but at least we're all mentally strong Americans. Or, uh, maybe not. The pandemic is taking its toll on America’s mental health:
https://www.wsj.com/articles/coronavirus...1586433603
So. It's time to stop. Time to go back to work. Implement every safety precaution we possibly can, sequester the truly vulnerable, implement drug trials when and where possible, use old drugs for new uses, bring the new vaccine to market. In short, everything we're already doing. But make sure that we have a country that is not devastated, a country where people are employed and productive and at least satisfied; instead of poor and unemployed and scared and bored and resentful and angry. Humans don't do well under that much stress. And yes, I'm fully aware that I'm advocating a policy that will cause many more people like me to die. Bummer of a birthmark, Hal.
Frankly, I'm a little surprised that the rich and upper middle class folks who populate this board don't understand that sacrifice must be made. The Greatest Generation understood it. The last three don't, not at all. It's fiction, but the captain of this ship understood it. A mast breaks in a squall, taking a sailor with it. The ship starts to capsize, and will be doomed if the captain doesn't make the difficult decision to cut the broken mast and his sailor loose, or it will pull the rest of the boat under. Which he does, losing one life to save 187 lives.
https://www.youtube.com/watch?v=qNB0LDIeIwM&t=93s
China understands it. When the Chinese stopped publishing realistic statistics, I realized that they decided to go the "screw it" route. They implemented what public safety measures they could, they made the vulnerable stay in place, then decided to make sure people stayed employed and that they didn't ruin their economy. I have no doubt that their official death toll is 1/10th of what it actually is, and could ultimately be higher. Who would know? So it doesn't surprise me that China encouraged international travel and sat on the official results. Not incidentally, they will emerge from this crisis as the unquestioned global leader, and America will be a distant...well, I hope second, but who knows? And make no mistake, we didn't stall the economy...we stopped it in its tracks. And it won't come back.
Obviously it's time to stop the current disastrous policy, but you proponents of that policy can rest easy. It won't happen here. The people on this board who advocate the destruction of America's economy to save a small percentage of the 330 million have the resources to care for themselves personally, and don't have to care about the tens of millions whose lives are now ruined or the country that will be financially devastated.
The good part is that the economy will be so devastated that chaos will reign, and while Bernie Sanders and Elizabeth Warren won't be elected, their policies will be implemented. Soak the rich is right around the corner. Probably not a French Revolution or October Revolution for those who desperately deserve it, but who knows?
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