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Winning...the economy under Trump

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21 minutes ago, Tweety said:

Kind of makes it hard to social distance when you have to keep checking the store for stuff.  My local store fortunately had plenty of food.  They even were restocking the Lysol sanitizing wipes, but I don't use them and passed, but I'm sure they didn't last long.  

I heard on NPR the government was looking for a trillion dollars.  We don't have a trillion thanks to the tax cuts.  I'm waiting on the Tea Party to start objecting to the stimulus package the way they did the last time the economy was crashing.  

You are lucky, Tweety.

Food choices!!!!

I am glad I bought some canned beans, ahead of all this.

Hair salons are being forced to close, along with bars and restaurants.

This feels like war time, minus a visible enemy.

I might not mind the hair salon closure, if I didn't have to work, and could shelter in place at home.

But us nurses, have to work.

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What a bumpy ride it's been.  There's a good graph in this article showing the ups and downs.

Yesterday was a good day.  There are some bright spots in the economy as people adjust.  I heard online fitness instruction for example is doing well, as are medical supply companies and grocery stores.

https://www.cnbc.com/2020/03/30/stock-futures-are-flat-following-rebound-from-coronavirus-sell-off.htmlThe hospitality and tourist injury are hard hit.  Bad news for us here in Florida where the height of our tourist and spring break season was abruptly ended.  I went to the beach to deliver groceries to my friend that lives there and the empty hotel parking lots were depressing.  Something 500,000 people here out of a job in the last couple of weeks.  

Estimates are that the unemployment rate is somewhere at 32%.  Most of what I'm reading is that the economy can crank back up at the end of all this but that is a stunning number and will strain the safety net (of which many vote against).

https://www.cnbc.com/2020/03/30/coronavirus-job-losses-could-total-47-million-unemployment-rate-of-32percent-fed-says.html

 

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1 hour ago, Tweety said:

What a bumpy ride it's been.  There's a good graph in this article showing the ups and downs.

Yesterday was a good day.  There are some bright spots in the economy as people adjust.  I heard online fitness instruction for example is doing well, as are medical supply companies and grocery stores.

https://www.cnbc.com/2020/03/30/stock-futures-are-flat-following-rebound-from-coronavirus-sell-off.htmlThe hospitality and tourist injury are hard hit.  Bad news for us here in Florida where the height of our tourist and spring break season was abruptly ended.  I went to the beach to deliver groceries to my friend that lives there and the empty hotel parking lots were depressing.  Something 500,000 people here out of a job in the last couple of weeks.  

Estimates are that the unemployment rate is somewhere at 32%.  Most of what I'm reading is that the economy can crank back up at the end of all this but that is a stunning number and will strain the safety net (of which many vote against).

https://www.cnbc.com/2020/03/30/coronavirus-job-losses-could-total-47-million-unemployment-rate-of-32percent-fed-says.html

 

Yes. Recall weeks ago, I suggested folks by stock in grocery stores.

The economy will come back.

But it will look different from what it used to.

People are already changing their lives and habits due to this virus and "healthy at home" initiatives.

It remains to be seen what the new economy will look like.

 

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54 minutes ago, Lil Nel said:

Yes. Recall weeks ago, I suggested folks by stock in grocery stores.

The economy will come back.

But it will look different from what it used to.

People are already changing their lives and habits due to this virus and "healthy at home" initiatives.

It remains to be seen what the new economy will look like.

 

I think the new economy is going to be a cautious one, like after the crash of 2008 when it took a lot of consumers time to get confidence in the economy enough to spend and stimulate the economy.

Stocking for a week or two is one thing and advisable to keep people at home,  but the hoarding and selfishness of buying above and beyond hurt some people, particularly older people that can't shop in bulk.  I was glad to see store I went to yesterday here fully stocked on most items including toilet paper, but that ran out.  The meat and produce was plentiful.  Still short on some items but fresh food and canned goods were there.  Also happy to see no children, just single shoppers staying away from each other and not many of those.  Gives the workers there a chance to breath.  They will be putting up barriers at the cash registers between the customers and the cashiers soon, many already have them.

Edited by Tweety

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Don't worry big oil, Trump is going to raise gas prices again.  

His Tweet:

Quote

Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!

 

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13 minutes ago, Tweety said:

Don't worry big oil, Trump is going to raise gas prices again.  

His Tweet:

 

Energy is obviously a big segment of our economy.  Russia and Saudi Arabia have flooded the market trying to hurt each other, and us too.  Not really a win for anyone.

But, I'm sure when gas prices start to increase it'll be another reason to criticize Trump.

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Nah.

American presidents are never criticized for the price of gasoline. 

😂

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8 hours ago, Lucylu71 said:

Energy is obviously a big segment of our economy.  Russia and Saudi Arabia have flooded the market trying to hurt each other, and us too.  Not really a win for anyone.

But, I'm sure when gas prices start to increase it'll be another reason to criticize Trump.

The fossil fuel industry helps to prop up Trump.

Hmm.

Did something happen this week with those mileage standards Obama put into place?

Hmm.

I think I remember reading something about that this week.

Trump is merely giving a hand out to his political donors.

Not that I care what the price of gas is, right now.

With a pandemic raging, nobody can go anywhere, besides work and the grocery store!

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11 hours ago, Lucylu71 said:

Energy is obviously a big segment of our economy.  Russia and Saudi Arabia have flooded the market trying to hurt each other, and us too.  Not really a win for anyone.

But, I'm sure when gas prices start to increase it'll be another reason to criticize Trump.

We never had to look hard or wait long for a reason to criticize Trump.  He provides that for us easily and multiple times a day sometime.

On the one hand I have a little more cash due to lower gas prices, but no where to go.  On the other hand I've been hurt by the drop in the stock market when oil fell, so I'm aware of the impact of the energy segment on the economy.  They had really bad timing when they started their oil war.

People are not wanting to see gas prices go up when unemployment is at an all time high and because Trump clearly has made this agenda of course they are going to blame Trump.  Especially when he's made numerous Tweets against former presidents when gas prices has gone up, and Tweets praising himself when they've fallen.  He's put himself in this position.  But it's quite clear he wants them to go up and I'm finding it hard to praise him for that.

Although admittedly, I also don't want the industry to crash.  I realize gas it t a level where it's hard for them to profit at these prices and in the end the CEOs have huge stockpiles of cash but the workers they might have to lay off are the one's that will pay.  Hopefully soon people will be back on the road again.

Edited by Tweety

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Wall Street had a good week.  My 401K had a low of 27% loss and now "only" has 11% loss.  I know this will change as time goes on.  

https://www.cnbc.com/2020/04/11/the-sp-500-has-rebounded-25percent-in-less-than-three-weeks-heres-whats-going-on.html

I did hear one economist yesterday say that the recovery time could be up to five years.  Perhaps I can retire at 75 instead. 

Meanwhile other countries are talking about reopening their economies, cautiously and slowly.  There's hope on the horizon.

https://www.cnn.com/2020/04/11/health/european-countries-reopening-coronavirus-intl/index.html

Edited by Tweety

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I wonder which parts of America Trump is wanting to get back to work? The oil industry is still going. Airlines are still flying, although with fewer and fewer flights. Hotels, perhaps? Golf courses? 

The few states will low hospitalization and death numbers don't really have much industry, because they don't really have many people. 

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