Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling

[Brian W + 78]

Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted developing risks from the relentless coronavirus pandemic. In separate appearances, Atlanta Fed President Raphael Bostic, Boston Fed President Eric Rosengren and Richmond Fed President Thomas Barkin noted what Barkin characterized as “air pockets” facing the U.S. economy - businesses exhausting existing order books without refilling them, and households facing the end of unemployment benefits and other support. Not all Fed officials are gloomy. St. Louis Fed President James Bullard said on CNBC he felt that face masks will become “ubiquitous” to tame the pandemic, and many lost jobs will be regained by year’s end.

[CarlHainze + 12]

In other news, the sky is blue and pigs don't fly...

[ThunderBlade + 231]

That's because it wasn't a recovery. It was what economist call, a dead shirtless senior with covid pneumonia bounce...

[joze44 + 39]

A recovery has to start before it can stall...

[50 shades of black + 254]

Said like we’re emerging from a catastrophe after the smoke has cleared. Things are still very much on fire.

[ronwagn + 6,290]

So far the stock market is doing very well. I expect a big bounce when the "second wave" alarmism and panic story propaganda fades out soon. The talk about having full hospitals were due to normal patients going for selective surgeries and other visits they had to put off, so when some COVID 19 patients were added they were full. No big deal at all. The death rates remain low but have taken small jumps as was expected when the economy started to reopen. 

The thing to worry about is all the Blue states that will be begging for federal handouts because their cities are even worse off than before COVID 19 hit. 

CCP Wuhan Coronavirus AKA COVID 19

https://docs.google.com/document/d/1MXY8T0j7k0oUBsHW4BfjJM__DRIyzqrDf_FSlV4hHpw/edit

[Ward Smith + 6,615]

10 hours ago, ronwagn said:

The thing to worry about is all the Blue states that will be begging for federal handouts because their cities are even worse off than before COVID 19 hit. 

Could that be because they let rioters burn their cities down? And even continue to do so? 

[0R0 + 6,251]

2 hours ago, Ward Smith said:

13 hours ago, ronwagn said:

The thing to worry about is all the Blue states that will be begging for federal handouts because their cities are even worse off than before COVID 19 hit. 

Could that be because they let rioters burn their cities down? And even continue to do so? 

You can also not give them the money and let them go down and evaporate economically.

If they continue that way the last of their anchor businesses will be spread out in the rest of the country and they will be economic deserts. We did this 50 years ago and cities were the crime infested economic ghettos nobody went to if they didn't have to. The number of office employees that must be there now just a TENTH of what it was then. Most office work can be done remotely. The captive city tax base has largely evaporated already in 3 months of lock down and riots. They are not coming back.

For most Americans, Antifa and BLM Marxists might as well be toppling statues and burning businesses in Moscow or Hong Kong. Downtown addresses have been deleted from their address book.

 

[Gerry Maddoux + 3,627]

Agree with ^

To paint a mural in front of Trump Tower that suggests the president is racist is the most dishonorable thing I've ever seen done. 

If I were he, and if I could squeak out four more years, I'd cut off every damn cent to the city of New York. 

And I personally don't think NYC is going to be even a good shadow of its former self. 

Who but the bleeding hearts would want to go there, much less live there?

[BradleyPNW + 282]

10 minutes ago, Gerry Maddoux said:

To paint a mural in front of Trump Tower that suggests the president is racist is the most dishonorable thing I've ever seen done. 

Trump is a racist. One clue: Stephen Miller still works in the White House and Donald still takes his advice. Ok, it's not a clue, it's smoke billowing from a four alarm fire engulfing the top floors of a NYC skyscraper. 

To be clear: Donald Trump is a raging racist. 

[ronwagn + 6,290]

4 hours ago, Gerry Maddoux said:

Agree with ^

To paint a mural in front of Trump Tower that suggests the president is racist is the most dishonorable thing I've ever seen done. 

If I were he, and if I could squeak out four more years, I'd cut off every damn cent to the city of New York. 

And I personally don't think NYC is going to be even a good shadow of its former self. 

Who but the bleeding hearts would want to go there, much less live there?

He is a declared socialist, so Trump should mention that frequently.

[Yoshiro Kamamura + 274]

Trump's push to reopen the economy caused the second wave of the pandemic (the states that reopened early lead in number of new cases). Not only all those people that died as a result of this decision are his direct victims (from moral point of view, it's the same as if he personally shot them in the head), but the long term outlook of the economy was worsened as well. More cases means impossibility to safely conduct business, manufacturing operations and of course lowered consumer confidence. 

The only chance is replacing this incompetent clown with somebody able to formulate and follow a coherent plan. 

[0R0 + 6,251]

The reopening continued the trend in the 10 states that never closed and the rest of them show an acceleration of transmission when they (1) shopped for memorial day, (2) heat waves drove them into air conditioned spaces with no ventilation throughout the South and SW.. 

There was and remained a Trump pandemic team plan to allow transmission to form herd immunity, while limiting it so that hospitals are not overwhelmed. But specific states were the ones with authority and they followed entirely different paths. Only the open states did anything rational. The Dem states went off their heads banning anything the gov. didn't control. A Chinese model response of bureaucratic self importance, disregard of facts and selective focus on science supporting policy rather than elucidating conditions, and total incompetence in policy. They sacrificed 40% of their labor's jobs,then didn't allow staff to process unemployment claims, particularly for PUA which is why they are only now coming through. While many of these gig economy and freelancers have already resumed work at least in part.

If you wanted a centralized response then you needed a different kind of government structure than the us Federal system. Separation of powers between states and the Federal govt. makes the pandemic a uniquely state issue. Any impositions (as opposed to guidance, which the CDC and Fauci failed miserably) were outside the realm of legal authority. So @Yoshiro Kamamura and @BradleyPNW are suggesting that failure of the President to take powers not allowed him by law is a policy failure. The states had the power. Some used it insanely badly, overly burdensome and crushing in Dem states, and arguably too lightly and for too short a time in Red states.

The notion that the outbreak is a bad thing is the one in question. In Italy's Lombardi region, the small towns had up to 70% prevalence of live virus at the peak of the pandemic there. It only stopped because of herd immunity. That is in contrast with Germany that contained it with good tracking and quarantine. In the US, the reaction was too slow in NYC and other large dense cities. By the time they locked down they were nearing herd immunity (30% prevalence tests in Boston's Chelsea, 30-50% in NYC). It is not really likely they will have a large 2nd wave unless the immunologically naive shelterers go out and party with the rest of the people. For the rest of the country, the idea was just to slow down the progression so as to avoid hospitals being overwhelmed, which was not really that likely with office workers self isolating in remote work, and far less crowding into public transport in the rest of the country than in NYC etc.. The spread in the South was just not going to be serious in the spring. It would only come when people congregate densely in air conditioning when summer heat strikes.

The kind of outbreak among the younger folks is what we should have had from the start, so long as they take care not to come in contact with the high risk group. That was what the known evidence from China and confirmed by Taiwan Japan and S. Korea was indicating. But instead, everybody was treated as a carrier and all were treated as if they were at high risk. No reasonable step was allowed to enter into public policy discussion. The Dems only used it as an opportunity to grab power and cause economic damage in order to de-elect Trump. Then produced waves of deaths with placement of the infected in nursing homes and taking deliberate misreadings of the stats to justify what they did. All while the media was making hay from the panic and then lighting it on fire.

It is thanks to diseased left wing minds that we face this calamity. We must sweep them out of polite society entirely. Leave the social media they control and re-aggregate in new social media with sensible mediation.

[BradleyPNW + 282]

I didn't say anything about COVID. I said Donald Trump is a racist. Because he is a racist. 

But if I were to say something about COVID it would be that Donald called it a hoax and his cult believed his word over the word of the subject matter experts. Further, a leader should listen to the subject matter experts and clearly communicate that information to the population. Donald was like:
 

 

[Yoshiro Kamamura + 274]

More precisely, Donald was like: