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Author Topic:   2020 Economic Adjustment: How Severe?
RAZD
Member (Idle past 1405 days)
Posts: 20714
From: the other end of the sidewalk
Joined: 03-14-2004


(1)
Message 10 of 32 (874011)
03-23-2020 3:23 PM
Reply to: Message 9 by Diomedes
03-23-2020 9:15 AM


Re: Some predictions on economic contraction
Yahoo had an article that showcased some of the estimates from the banking sector as to how much the economy will contract in the coming months:
We should also worry about agriculture immigrant workers not getting to the fields because Trumpy closed the embassies that process the temporary work permits (green cards). Food supply could crash.

we are limited in our ability to understand
by our ability to understand
RebelAmericanZenDeist
... to learn ... to think ... to live ... to laugh ...
to share.


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RAZD
Member (Idle past 1405 days)
Posts: 20714
From: the other end of the sidewalk
Joined: 03-14-2004


(1)
Message 11 of 32 (874012)
03-23-2020 3:26 PM
Reply to: Message 9 by Diomedes
03-23-2020 9:15 AM


the economy depends on workers, not banks
This is also proof that the economy depends on workers, not on banks and imaginary money stocks.
The last depression was relieved by infusing money into the workers.
Enjoy

we are limited in our ability to understand
by our ability to understand
RebelAmericanZenDeist
... to learn ... to think ... to live ... to laugh ...
to share.


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This message is a reply to:
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RAZD
Member (Idle past 1405 days)
Posts: 20714
From: the other end of the sidewalk
Joined: 03-14-2004


(1)
Message 16 of 32 (874067)
03-24-2020 12:24 PM
Reply to: Message 12 by Phat
03-24-2020 1:19 AM


Re: Some Basics
quote:
After the Dow Jones peaked in 1929, the index fell during the Great Depression ...
Note when it starts to rise and the steady growth in the 30's
quote:
Top 10 New Deal Programs of the 1930s
To Act or Not to Act
Herbert Hoover was the sitting U.S. president when the stock market crash occurred in 1929, but he felt that the government should not take stringent action to deal with heavy losses by investors and the subsequent effects that rippled throughout the economy.
Franklin D. Roosevelt was elected in 1932, and he had other ideas. He worked to create numerous federal programs through his New Deal to help those who were suffering the most from the Depression. Besides programs built to directly help those affected by the Great Depression, the New Deal included legislation intended to correct the situations that led to the stock market crash of 1929. Two prominent actions were the Glass-Steagall Act of 1933, which created the Federal Deposit Insurance Corporation, and the Securities and Exchange Commission, created in 1934 to be a watchdog over the stock market and police dishonest practices. The SEC is one of the New Deal programs still in effect today. Here are the top 10 programs of the New Deal.
  1. Civilian Conservation Corps (CCC)
  2. Civil Works Administration (CWA)
  3. Federal Housing Administration (FHA)
  4. Federal Security Agency (FSA)
  5. Home Owners' Loan Corporation (HOLC)
  6. National Industrial Recovery Act (NIRA)
  7. Public Works Administration (PWA)
  8. Social Security Act (SSA)
  9. Tennessee Valley Authority (TVA)
  10. Works Progress Administration (WPA)

quote:
... and didn't fully recover until 1954, 25 years later.
The economy for the workers recovered sooner than the stock market (which is not a measure of worker economy)
I fear tough times. Its not fair to people like me. But it must be God's will. Either that or we caused it, as jar suggests.
Capitalism is not fair to workers unless they unite. As Bernie says "together we win"
Enjoy

we are limited in our ability to understand
by our ability to understand
RebelAmericanZenDeist
... to learn ... to think ... to live ... to laugh ...
to share.


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This message is a reply to:
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Replies to this message:
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RAZD
Member (Idle past 1405 days)
Posts: 20714
From: the other end of the sidewalk
Joined: 03-14-2004


Message 18 of 32 (874295)
03-28-2020 5:24 PM
Reply to: Message 17 by anglagard
03-28-2020 3:04 PM


Re: Some Basics
Just to elaborate on this point, between 1946-1952 the *actual* economy (not the DJIA) boomed like no one has seen before or since. This is why:
Also add that the average worker was in a union, and the wages were sufficient for one worker in a family to earn enough to support a family, own a car, and get a mortgage on buying a house.
Enjoy

we are limited in our ability to understand
by our ability to understand
RebelAmericanZenDeist
... to learn ... to think ... to live ... to laugh ...
to share.


Join the effort to solve medical problems, AIDS/HIV, Cancer and more with Team EvC! (click)

This message is a reply to:
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Replies to this message:
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RAZD
Member (Idle past 1405 days)
Posts: 20714
From: the other end of the sidewalk
Joined: 03-14-2004


(1)
Message 32 of 32 (875376)
04-24-2020 1:38 PM
Reply to: Message 30 by jar
04-24-2020 8:51 AM


Reality of new normal ... depends on workers
Kinda, sorta. The man is brilliant. We have a massive UV light generator that is freely available to everyone. It's super reliable and available worldwide. But when Governors tell folk to go ahead and swim and enjoy the UV generator he can say, "Sorry, you move too fast and did not follow the guidelines so all the damage will be YOUR fault."
He is a master of blaming someone else.
We have a situation where in the end an analysis will show
  1. Money given to big corporations and the 1%ers will be wasted, it will not boost the economy because they will put it all in their own pockets one way or another, halting the movement of that money (the economy is based on the movement of money, not the holding of it). They should be required to payback any/all economy boost money, the way the car companies had to payback the recovery loans from 2009. This also requires trackg where the money goes.
  2. This also includes loans to a lesser degree, that money moves until the loan is paid
  3. Grants to workers and small businesses (no payback) will do the lion's share of boosting the economy as this will result in the most movement of the money
  4. The economy depends on "essential workers" not CEO's, and that without the workers there is no economy.
This in turn will show the long term need for basic income, living wages and full support of ALL americans. poorest americans live paycheck to paycheck (if they even have a paycheck), often working 2 or more jobs to make ends meet. With a basic income workers can choose whether or not they want to work for the salary offered, not take poverty wage jobs because of family needs. With a basic income employers will need to offer what is needed to attract workers. In the current environment that means PPE and hazard pay for essential work.
It will show the need for universal healthcare, so that healthcare no longer causes bankruptcies, home foreclosures, and deaths. We need to get the infected off the streets and not have them hold back because they cannot pay hospital bill.
It is our job to make sure that this happens.
Enjoy

we are limited in our ability to understand
by our ability to understand
RebelAmericanZenDeist
... to learn ... to think ... to live ... to laugh ...
to share.


Join the effort to solve medical problems, AIDS/HIV, Cancer and more with Team EvC! (click)

This message is a reply to:
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