The Trump Economy

[ColoradoHusk]

3 minutes ago, teachercd said:

It was a joke...like...if you could actually invest in "the internet" not companies on the net...but literally the internet.  Like, if that had been a company.  

 

Like if you could invest in "porn", in general . 

I only need porn a few minutes of a time, that’s pure rental, not buying!

[teachercd]

3 minutes ago, ColoradoHusk said:

I only need porn a few minutes of a time, that’s pure rental, not buying!

You are an animal!

[knapplc]

Whoof. This is not unexpected but still not great.

 

 

 

[deedsker]

Wow...just, wow. The “Great Recession” looks like a blip on the radar. We probably haven’t even seen the beginning of this either.

[teachercd]

54 minutes ago, deedsker said:

Wow...just, wow. The “Great Recession” looks like a blip on the radar. We probably haven’t even seen the beginning of this either.

Imagine if we did not have the internet right now.  I wonder what % of all transactions are done online currently.  

[DevoHusker]

16 minutes ago, teachercd said:

Imagine if we did not have the internet right now.  I wonder what % of all transactions are done online currently.  

 

....are you still talking about porn...? 

[Moiraine]

1 hour ago, knapplc said:

Whoof. This is not unexpected but still not great.

 

 

 

 

 

Ya... holy s#!t. Hopefully that comes down to normal recession numbers next week...

[TGHusker]

Butttttt those unemployment #s aren't relevant per Mnuchin.  Tell that to all of the unemployed.  Pretty relevant to them.    These guys are heartless.

 

Yes, I understand what he is trying to say - but those aren't the kinds of things one says at a time like this.

https://www.mediaite.com/tv/steven-mnuchin-calls-record-unemployment-claims-not-relevant-on-cnbc/

 

Quote

 

U.S. Secretary of the Treasury Steven Mnuchin said that record unemployment claims were “not relevant” during an interview with Jim Cramer and David Faber on CNBC Thursday.

“We knew the jobless claims was not going to be a good one. I am curious what your thoughts were when you saw that 3.283 million number this morning?” asked Faber.

“To be honest with you, I just think these numbers right now are not relevant whether they’re bigger or smaller in the short term,” Mnuchin responded.

“Obviously, there people who have jobless claims, and, again, the good thing about the bill is the president is protecting those people,” Mnuchin added, referring to the coronavirus stimulus aid package, which was passed on Wednesday night.

“They had no choice, now with this bill passed by Congress, there are protections, and as I said, hopefully, those workers will be rehired, but between these three programs, it protects all of American workers.”

“And, by the way, you know, lots of big companies do continue to hire, for obviously grocery stores, pharmacies, you know, delivery services. These companies are on overtime, so I know they’re hiring people as fast as they can,” Mnuchin added.

The Labor Department reported on Thursday that unemployment claims surged to 3.283 million last week. This is an increase of 3 million when compared to the previous week. The number also breaks the Great Recession record of 665,000 in March 2009, and the all-time high of 695,000 in October 1982.

 

 

[BigRedBuster]

 

[RedDenver]

 

[TGHusker]

This has become the widespread admin talking point- the economy, the economy, the economy (when will trump start using Clinton's 1992 phrase -"It's the economy stupid".)

Here we have Carson saying people 'will die' if the economy isn't brought back to health.   What he and others are saying is that trump's election prospects will die if the economy doesn't jump start soon.

 

https://www.cnsnews.com/article/national/susan-jones/dr-ben-carson-if-economy-shatters-lot-people-will-die

Quote

 

CNSNews.com) - Housing and Urban Development Director Dr. Ben Carson told Fox News Wednesday night that President Donald Trump is right to focus on Americans' health as well as their economic future. Both have life-or-death consequences, he said.

The pandemic "is transient," Carson noted:

This too will pass. What we have to do is be smart enough to make sure we keep all of our infrastructure, our economic infrastructure intact so we don't have to start all over again.

I think the president has recognized that. There are many people who criticize him for being concerned about the economy, but the fact of the matter is if we don't have an economy by the time we get done with this, we are in terrible shape and a lot of people will die from that. So we have to be able to look at both things, walk and chew gum at the same time.

Carson said that he (like the president), is "hopeful, obviously, that we can get back to work as soon as possible, but it will probably be phased.

"There are some people who are not at great risk; there are some people who already have had the disease and therefore have the antibodies. These are people who probably can start going back to work. We need to talk about this and deal with it in a logical and reasonable way."

On another hopeful note, Dr. Ben Carson discussed an experimental procedure, just approved by the Food and Drug Administration, that is now being tried out in New York.

It involves taking plasma from people who have recovered from coronavirus and therefore have the antibodies, then injecting that plasma into people who are critically ill with the disease.

"It has worked in the past, more than 100 years ago during the 1918 flu epidemic that was going on here, it was utilized successfully. More recently, in 2002 during the SARS outbreak, it cut down on the severity and the duration of symptoms," Carson said: 

It is promising -- the concept actually makes a lot of sense. If you had it and you've gotten over that, than obviously your immune system has kicked in and you have some significant antibodies against the viral antigen and those tend to last much longer than the antigen does, and therefore if you can transfer that -- that's going to require significant coordination with the blood banks, because they have to type the plasma and various things like that but we should be able to get some very quick results.

This was just approved yesterday. The FDA has been doing a yeoman's job, and there are more than 100 different therapies being looked at right now. I think we are going to come up with something.

 

 

[RedDenver]

 

[Danny Bateman]

2 hours ago, BigRedBuster said:

 

 

[RedDenver]

 

[RedDenver]