The U.S. is “already in a recession,” former director of the National Economic Council, Gary Cohn, told CNN last Friday. “This has really become a major public health crisis, which has in turn curtailed consumer demand,” Cohn said. “We are having negative growth right now and the market is pricing in that uncertainty.”
Alan Binder, former Federal Reserve vice chairman, similarly told CNBC last week that the economy is probably already in a recession: “I wouldn’t be one bit surprised if when we look back at the data, it is decided ... that the recession started in March.”
According to Oxford Economics chief U.S. economist, Gregory Daco, “the U.S. is already in a recession,” with the global coronavirus pandemic set to result in a “profound, pervasive and persistent reduction in [economic] activity across the nation.” -snip
"We're not thinking in terms of recession. We are thinking in terms of the virus. I think there is a tremendous pent-up demand, both in terms of the stock market and in terms of the economy. And once this goes away, once it goes through and we are done with it, I think you're going to see a tremendous surge," the president said. -snip
It needs to be noted that Larry Kudlow said the US economy wasn't going to crash in 2008, it crashed about three weeks after he made that prediction.
__________________ Chicken Boo, what's the matter with you? You don't act like the other chickens do. You wear a disguise to look like human guys, but you're not a man you're a Chicken Boo.
Not to worry. I'm sure fund management companies will protect themselves at the cost of the pension funds they have control over. They'll be fine. Nice that you're concerned though.
__________________ Sweating on the streets of Woking
Couldn't they just get their lobbyist to sway politicians to then have the US taxpayers bail them out of their obligations? Or does that work differently for fund management companies?
eg Remember when Trumpco let Murray Energy (Trump's good friend) out of their 6.5billion dollar coal miner's pension obligation, by making the tax payers cover it after Murray filed for bankruptcy/restructuring protection. Which could happen again no less, as the bailout didn't fix the underlying issues.
Without COVID-19, we would not have seen the recession until 2022. The "signals" in '18 and '19 were not recession signals, they were growth signals. Any economist who tells you otherwise is a retconning snake oil salesman.
This won’t change regardless of the administration. The system needs to be purged
__________________ "Happiness is a lie. Life is horror. The light is always dying all across the universe. The last star will flicker out someday, when it does, all that remains is shadow. And I will be its king!"'-Amahl Farouk
Nope. You actually agree with me, it's why in the other thread you said you hope the recession hits in December 2020, not before. Because if it hit before the election, it would hurt Trump's chances of winning. Twas implied.
That's still wrong. I talked about the economy still trying to recover to pre-2008 housing market crash numbers. I talked down to people lauding Trump's numbers. And my comment about December 2020 was a dig at people who think Trump is an economic genius. If you remember, around July 2019, there was 0 hope that anyone could beat Trump and quite a few Trumpers could not resist that mushroom dick. The comment was about Trump winning and then crashing and burning: making them eat their own words. the recession was inevitable but not until around 2022 or 2023.
But since we have this COVID-19 hoax to deal with, we got a nice recession early.
So you agree with me then, I said Covid-19 exposed the flaws in Trump's disastrous policies and economy and now we're getting the recession right now, instead of later this year as was on schedule. Somewhere between a 3 to 9 month speed-up.
No, I do not agree with that statement. Regardless of how perfect Trump's policies were, we'd still see a massive market drop just like the rest of the world. South Korea, unarguably, had the best response to COVID-19 after it broke out there. Korean markets still are just as affected.
You're confusing the natural market ebs and flows with Trump's economic policies. It was going to happen, regardless. It would have just taken about 2 years longer before that recession hit.
__________________ Chicken Boo, what's the matter with you? You don't act like the other chickens do. You wear a disguise to look like human guys, but you're not a man you're a Chicken Boo.
__________________ Chicken Boo, what's the matter with you? You don't act like the other chickens do. You wear a disguise to look like human guys, but you're not a man you're a Chicken Boo.
KMC Community Forums
Mar 16th, 2020 10:03 PM
