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The Republican Utopia


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1 hour ago, Danny Bateman said:

The GOP solution to the country being on fire after getting a good jobs report:

 

Wait, do nothing and piss on the ashes.

 

 

 

Trump and his team agree wt the Senate aide.  Unfortunately, they are short sighted and overly optimistic.  What happens after July when PPP ends?  To that point, I know a manager at my business who wants to fire a person for poor performance.  The CFO however say no - not yet - we need to keep the head count up to keep the funding.

 

https://theweek.com/speedreads/918407/nobel-prizewinning-economist-warning-that-fridays-seemingly-encouraging-job-report-actually-alarming-why

Quote

 

Friday morning's stunning job report is already being celebrated by the White House as unemployment unexpectedly fell to 13.3 percent in May. But even as forecasters have scrambled to understand how their predictions were so far off, Nobel Prize-winning economist Paul Krugman stressed on Twitter that "whatever happened, these numbers should make you more, not less, pessimistic about the economic outlook."

Huh? As Krugman goes on to explain, the seemingly encouraging job report could actually "reinforce the White House inclination to do nothing and let emergency aid expire."

That's alarming to Krugman and other analysts because what May's job numbers do seem to prove is that the Payroll Protection Program, which encouraged small businesses to keep workers on payroll during the pandemic, was instrumental in helping bring back workers in May. "U.S. unemployment [is] at 13 percent [with] trillions in government aids," wrote The Washington Post's Jeffrey Stein. "What happens when huge infusion runs dry in July?"

But as of Thursday night, the Post was reporting that President Trump's recovery plan "largely amounts to optimism that as pandemic restrictions are loosened, the nation's economy will turn the lights back on by itself." As the Post goes on to explain, Trump is hesitant to offer states further aid, and opposes extending the soon-to-expire $600 unemployment bonus for laid-off workers.

White House economic adviser Stephen Moore seemed to confirm Krugman's fears. "There's no reason to have a major spending bill," he said in response to Friday's job numbers. "The sense of urgent crisis is very greatly dissipated by the report."

Not everyone shares the opinion that the job report lets the federal government off the hook. "The jobless rate, even if it declines, I believe is going to stay extremely high through the end of the year," former Federal Reserve chair Janet Yellen told the Post. "It's absolutely essential to have another package that will extend unemployment benefits beyond the summer. That's going to be tremendously needed." Jeva Lange

 

 

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28 minutes ago, TGHusker said:

 

Trump and his team agree wt the Senate aide.  Unfortunately, they are short sighted and overly optimistic.  What happens after July when PPP ends?  To that point, I know a manager at my business who wants to fire a person for poor performance.  The CFO however say no - not yet - we need to keep the head count up to keep the funding.

 

https://theweek.com/speedreads/918407/nobel-prizewinning-economist-warning-that-fridays-seemingly-encouraging-job-report-actually-alarming-why

 

 

 

Ya, this thing is far from over.

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9 hours ago, teachercd said:

Jobs up...stock market "okay"...

 

If you hate Trump...you don't want to see this.  

I'm not a fan of Trump, but in what way is this bad? People getting back to work or 401k's recovering is a good thing for the country. I've never understood the whole "nose despite your face" mentality. Root for America as a whole to succeed. Not everyone's voting decisions are tied to those two metrics. 

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50 minutes ago, Mike Mcdee said:

I'm not a fan of Trump, but in what way is this bad? People getting back to work or 401k's recovering is a good thing for the country. I've never understood the whole "nose despite your face" mentality. Root for America as a whole to succeed. Not everyone's voting decisions are tied to those two metrics. 

It is not bad, it is great.  I want the stock market up...I want unemployment down and I want the economy strong.

 

But if you hate Trump...and he has all 3 of those going "his way"...well...it is reelection time.  

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11 hours ago, FrantzHardySwag said:

Two things, if he is gay, I could care less - I care how he's treated the gay community as a politician. And two, how much you want to bet if this is true, Russia knew about it...


The most homophobic and outspoken about the gay community in this country usually turn out to be gay. If they cant come out and live their life, nobody can. Normal people dont give a damn what two consenting adults do in their bedroom. 

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13 hours ago, teachercd said:

Jobs up...stock market "okay"...

 

If you hate Trump...you don't want to see this.  

https://www.reuters.com/article/us-usa-economy-jobs-explainer/explainer-mays-jobs-report-stunner-real-deal-or-head-fake-idUSKBN23C2MV

 

https://www.washingtonpost.com/opinions/2020/06/05/trump-spins-good-jobs-report-create-fake-impression-that-all-is-well/

 

The second link is an opinion piece, but it does bring up some good points as to what could happen now that it appears that the economy hit rock bottom and is now working its way back up.

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4 hours ago, teachercd said:

It is not bad, it is great.  I want the stock market up...I want unemployment down and I want the economy strong.

 

But if you hate Trump...and he has all 3 of those going "his way"...well...it is reelection time.  

 

 

I'm pretty indifferent. This recession is going to last at least 1-2 years, and I knew unemployment was going to spike back down, but I think it's going to stay fairly high for awhile. I also think people who would have voted for Trump were blaming the economy issues entirely on Covid, and were not blaming any of the Covid issues on Trump, so it's really not going to make a blip if we get down to 10%.

 

The way he has dealt with the protests, however, I think has activated a lot of people who may not have voted at all or didn't want to vote for Biden. People have short memories but this seems different.

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