Economic fallout predictions of this pandemic
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    Economic fallout predictions of this pandemic

    The UN forecasts that the coronavirus pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression.

    Further, it is expected to slash global economic output by nearly $8.5 Trillion over the next 2 years, erasing nearly all gains of the past 4 years.
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    I wish I were that optimistic.
    Definition of clip

    1: any of various devices that grip, clasp, or hook
    2: a device to hold cartridges for charging the magazines of some rifles; also : a magazine from which ammunition is fed into the chamber of a firearm.

    http://www.merriam-webster.com/dictionary/clip

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    I have got to admit that I am giving serious thought to cashing out and sitting on the side lines. It's been an interesting ride, just not sure of the destination where the journey ends.
    glenwolde likes this.

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    WHO is part of the UN. Can anyone provide 5 projections in 30 years that the UN has called correctly?
    "Beware the calculations of the meek, who gambled nothing, gave nothing, and could never receive enough." - John Ciardi

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    Tax revenue is down for state local and federal government. Federal government can take on debt without raising taxes. States and local governments will need to raise taxes and the longer they keep people out of work the more they will raise taxes. Blue states will continue their MO, raise taxes, push more jobs to lower tax states. Americans will continue to spend every $ they make, government will continue to keep interest rates low to 'stimulate' the economy. Politicians will continue to grow federal government using our taxes to buy votes. Sanders has shown that socialism is growing in America, while the party got Bernie they have to see that his stated socialist position resonated with the young.

    Unemployment will be up for a while which will slow the increases in labor costs.

    I just don't see much changing. Low interest rates force people to take risk in the market. Stocks were overvalued before this started, probably are overvalued now, and will tend to be overvalued in the more distant future. Savings rates will not increase. In general we will continue to be irresponsible like our government. We could use more personal accountability/responsibility but then the power would reside with us not those that promise to take care of us.

    I hope we are more pro american business and american jobs. China is not our friend and wants our jobs. Everyone wants our market (wealth, spending) and we need to take advantage of it. Hopefully we can keep the dollar as the world currency (oil is priced in $). We need to control the national debt relative to GDP.
    chcouch likes this.
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    Frankly, there is little trust in anything the UN says except by the leftists. That said, a significant economic downturn is inevitable especially with the prog/soc/libs continued lockdown in the effort to elect the buffoon biden. Hopefully upon President Trump's reelection the economy will recover with the same vigor it demonstrated prior to the Chinese Wuhan Flu outbreak. That is, until the libs attempt to perpetrate another hoax upon the American people. And undoubtedly they will.
    BigBlue, Jake3501 and rhugg like this.

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    The UN also said to expect an increase of 150 million deaths due to disruptions of the food chain. The price of meat has increased rather dramatically, Kroger has limited purchase amounts of ground beef and some Wendy's locations are no longer serving burgers, just chicken fish and sides.

    I don't trust the UN either, but when I'm seeing burger joints and grocery stores put limits on what they're selling, there ARE economic problems.
    WoodyUSSLUCE likes this.
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    Quote Originally Posted by ? Marquis View Post
    WHO is part of the UN. Can anyone provide 5 projections in 30 years that the UN has called correctly?
    Great pickup and partially why I posted this thread. The wording is lifted from the "news crawler" that ran all evening last night on FOX but the topic was never discussed.
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    Quote Originally Posted by rhugg View Post
    Tax revenue is down for state local and federal government. Federal government can take on debt without raising taxes. States and local governments will need to raise taxes and the longer they keep people out of work the more they will raise taxes. Blue states will continue their MO, raise taxes, push more jobs to lower tax states. Americans will continue to spend every $ they make, government will continue to keep interest rates low to 'stimulate' the economy. Politicians will continue to grow federal government using our taxes to buy votes. Sanders has shown that socialism is growing in America, while the party got Bernie they have to see that his stated socialist position resonated with the young.

    Unemployment will be up for a while which will slow the increases in labor costs.

    I just don't see much changing. Low interest rates force people to take risk in the market. Stocks were overvalued before this started, probably are overvalued now, and will tend to be overvalued in the more distant future. Savings rates will not increase. In general we will continue to be irresponsible like our government. We could use more personal accountability/responsibility but then the power would reside with us not those that promise to take care of us.

    I hope we are more pro american business and american jobs. China is not our friend and wants our jobs. Everyone wants our market (wealth, spending) and we need to take advantage of it. Hopefully we can keep the dollar as the world currency (oil is priced in $). We need to control the national debt relative to GDP.
    Except the savings rate has soared and credit card use has fallen off a cliff. Remember, 75% (or so) are still getting paid. If you were in that group (and perhaps you are) what would you be doing? Paradoxically, this trend does not bode well for the economy. The U.S. is built on financial irresponsibility.

    https://www.cnn.com/2020/05/12/inves...ebt/index.html

    State & Local governments will have to be bailed out. This is the problem with a consumption-only tax base. States with income taxes will be better off than those without, everything else being equal (which it's not, but that gets complicated fast).

    There's serious advantages to being the reserve currency. There's also serious drawbacks. Some would say that it's part of the problem. Here's the clearest explanation I could find on the issue. Nevertheless the $US is the reserve currency and isn't going anywhere...for now. When the change comes the U.S. as we know it (economically) will be totally different, and not in a good way. I hope I'm dead.

    https://qz.com/1266044/why-does-the-...eged-position/
    Definition of clip

    1: any of various devices that grip, clasp, or hook
    2: a device to hold cartridges for charging the magazines of some rifles; also : a magazine from which ammunition is fed into the chamber of a firearm.

    http://www.merriam-webster.com/dictionary/clip

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    Quote Originally Posted by jonrjen View Post
    I have got to admit that I am giving serious thought to cashing out and sitting on the side lines. It's been an interesting ride, just not sure of the destination where the journey ends.
    If you can do that without a huge tax issue it's your call. Or hedge. Wouldn't hurt to take some money off the table. I never like going all-in or all-out suddenly.
    Definition of clip

    1: any of various devices that grip, clasp, or hook
    2: a device to hold cartridges for charging the magazines of some rifles; also : a magazine from which ammunition is fed into the chamber of a firearm.

    http://www.merriam-webster.com/dictionary/clip

 

 
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