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Bottom line is that if you don't control the spread of the virus, for the foreseeable future, nothing else you do will matter. Everything else is contingent upon that.
Strongly disagree. You have no reason to believe that to be true.
So in other words print more money and further destroy the dollar.Fed's Kashkari suggests 4-6 week shutdown; says U.S. Congress can spend big on coronavirus relief
The U.S. economy could benefit if the nation were to "lock down really hard" for four to six weeks, a top Federal Reserve official said on Sunday, adding that Congress can well afford large sums for coronavirus relief efforts.www.reuters.com
People like him are only able to live comfortably in rich, ultra-safe metropolises under heavy police protection (read "Bonfire of the Vanities by Tom Wolfe). They're typically so weird and revolting to normal people that they can't live in smaller or poorer communities where people depend on one-another more.So in other words print more money and further destroy the dollar.
That's easy for Kashkari to say - no matter what he'll still have a job either working for the Fed, a financial institution, or the government that will guarantee him and his family a comfortable existence.
From the above link...Fed's Kashkari suggests 4-6 week shutdown; says U.S. Congress can spend big on coronavirus relief
The U.S. economy could benefit if the nation were to "lock down really hard" for four to six weeks, a top Federal Reserve official said on Sunday, adding that Congress can well afford large sums for coronavirus relief efforts.www.reuters.com
Yep., IOW, it's great for Kashkari. "We have a lot more resources to support those who've been laid-off" except that they're not being distributed to those who have been laid-off. CA's unemployment office is waaaaaaaaaaaaaaay backed-up and UI checks don't pay the bills of the middle class.From the above link...
“Those of us who are fortunate enough to still have our jobs, we’re saving a lot more money because we’re not going to restaurants or movie theaters or vacations,” Kashkari said.
“That actually means that we have a lot more resources as a country to support those who have been laid off,” he said.
WTF?
We aren't going to fund covid relief with a redirection of discretionary income in a nation where the average household income is 61K.
We are going to fund covid relief by continuing to create trillions of dollars out of thin air and inject them most of them into asset classes that make the rich even richer!
Here's what he saidPoint is simple.
If you cannot manage the virus, your economy cannot recover.
We locked down hard for far more than 6 weeks in this state and now we're having another flare-up. Seems like we did what he wanted and we're still having a flare-up of cases, so maybe he's not an expert in epidemiology. Maybe he should just stick to what he knows.The U.S. economy could benefit if the nation were to “lock down really hard” for four to six weeks, a top Federal Reserve official said on Sunday, adding that Congress can well afford large sums for coronavirus relief efforts.
The economy, which in the second quarter suffered its biggest blow since the Great Depression, would be able to mount a robust recovery, but only if the virus were brought under control, Neel Kashkari, president of the Minneapolis Federal Reserve Bank, told CBS’ “Face the Nation.”
“If we don’t do that and we just have this raging virus spreading throughout the country with flare-ups and local lockdowns for the next year or two, which is entirely possible, we’re going to see many, many more business bankruptcies,” Kashkari said.
We are managing the virus in many places.Point is simple.
If you cannot manage the virus, your economy cannot recover.
To be fair, it wasn't a hard lockdown, and the southern US border has been wide open and Trump has done fvckall about it.We locked down hard for far more than 6 weeks in this state
It felt hard to us with 3 young boys, no teacher support, and no where to take them during the day. The libraries are still closed so we can't even check out books for them to read. I get it, families don't matter to "advanced" nation-states anymore.To be fair, it wasn't a hard lockdown, and the southern US border has been wide open and Trump has done fvckall about it.
Hence the high numbers in places like AZ and TX and CA (Imperial County).
That's simple to say, but not based in reality. We very well can move on economically with no change in our understanding or control over this virus.Point is simple.
If you cannot manage the virus, your economy cannot recover.
Hang in there sub. Any germs come knocking, shoot first, ask questions later.
A friend of mine living in Cabo said yesterday was crazy times. He went to exchange money, saw like 3 car accidents on the way to the bank, two guys punching each other on the sidewalk and mobs of people rushing the grocery stores. On the way back there was a motorcyclist lying dead in the street and mobs of people around but no police. He says there's coronavirus there but no one can get tested and apparently they are freaking out. He had planned on stocking up on food but said the stores were too chaotic so he just drove home and locked the doors. He was debating whether or not to try fly back to the US for a while and I told him if he was gonna do it he should do it soon or he might not be able.
But one thing is for certain.
This crisis is being used to implement another massive transfer of wealth from the middle class to the wealthy on a scale not seen since the 2008 meltdown.
That is great news, and I definitely agree about the teacher's unions. A staff of teachers and administrators can figure how to be physically present at a school facility to implement online learning.We are managing the virus in many places.
Here in San Diego county there is a major hospital that currently has only 1 (ONE) coronavirus patient in the ENTIRE FACILITY.
Here's another fact: Admissions for COVID 19 have been declining in the county since July 4th despite the 6 -7% positivity rate. (Positivity rate during lockdown was 3%)
All of this while beaches are packed on the weekends, Mission Bay Park is packed, and no one is wearing masks.
Facts.
He stayed there, waited out the beach closures and then has been scoring epic and uncrowded surf since. The bastard.What did he end up doing? It's been 4+ months.