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The next quarter is going to be end of June. It will be one of the largest losses ever. Current prediction is about 12% which is 40% annual loss.
How much the economy recovers in July, August is unknown. Recovery is pretty much a relative term. People that don't have their full time job back won't see it as a recovery. Most businesses will still be seeing reduced revenues. If we see a 12% drop, I doubt we will see more than a 10% gain. While large won't be the largest gain ever. (Although Trump will claim it is in spite of evidence to the contrary.)
"We are all born ignorant, but one must work hard to remain stupid."
"Any fool can criticize, condemn and complain - and most fools do."
cancel2 2022 (05-28-2020)
Isaiah 6:5
“Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”
The last time the economy was booming, Clinton was President. trump's 2.2% was not booming any more than Obama's 2.1%. That 2.2% was bought at an economy that started collapsing before Covid-19. Have you ever heard of all the S&P companies almost going technically bankrupt at the same time. There was no good reason for it. It did not even happen during the Great Depression.
The voters are voting tribally, so the economy is the least important to voters it has been in almost a hundred years.
The world is full of crashing economies, but Fauci is only in America, so we cannot blame Fauci for much. trump had crashed parts of the economy before Covid-19, and without the booms we expect before the bust.
Recessions are a natural consequence of growth, but trump did not give us strong growth. Recessions are good in some ways because they clear away the non-productive businesses... But trump has all businesses in America on the verge of collapse.
Obama was getting a lot of love from the Fed, Trump wasn’t, and Trump was only three years in before the COVID Crash.
People were working good paying jobs under Trump like they weren’t under Obama. In fact, it was a workers market in many sectors.
I have no idea what Biden would do besides what other people tell him to do. I’m pretty sure he has literally no idea. Trump will continue to deregulate the economy and the economy will need all the help it can get after this.
If the Ocasio-Cortez crowd gets in Biden’s ear you can stick a fork in the American experiment.
Coup has started. First of many steps. Impeachment will follow ultimately~WB attorney Mark Zaid, January 2017
The Fed created money not to counteract deflation, but to give cash on hand to almost all the corporations in America. They had never done anything like that before. They did it back in September, well into trump's presidency, and before Covid-19. The Fed is now doing dozens of things they never would have considered when Obama was President.
There was record low unemployment for both Obama through to trump. You would expect it to be a employee's market, but it was not. We did not see the inflation, or rising standard's of living that one would see from such low unemployment. Economists do not know why.
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