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The Trump Economy


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@3rdnlng  I didn't want to copy all what was posted by quoting, so...

First, posting a defense using Breitbart is like me using MSNBC or Krugman.  The first response is always "consider the source."  That said...

 

As the Politifact article said, WHO adopted the German protocol on Jan 17, but the US decided to develop their own which became available Jan 28th.  Certainly our choice, but one delay.  Then, the issue you noted about the failure with its test.  Regardless, for many different reasons, testing was too slow to be implemented which led to the inability to control the outbreak by mitigation.  In fact, we still are not testing enough.  Erie county said they no longer have the ability to test. Incredible.  I'm not sure why..?

 

My main issue throughout has been Trump not taking it seriously enough, and seeming to be more concerned about the economy and stock market. I posted that video of him at the CDC talking about bringing the cruise ship in to SF and his comments about higher numbers being bad.  You guys responded that's just they way he talks or something to that effect.  throughout this time, many in the administration were singing the same tune, saying it was being contained (Kudlow and others).  Even Trump was saying it was under control.  It was not until the stock market took its first huge drop that he started to focus more.  He gave his address to the nation, which created more confusion than confidence.  At Sunday night's presser, he came out all giddy talking about the Fed's rate cut to zero, and saying "Wall Street would be very happy."  They weren't.  Investors aren't stupid.  They recognized the lack of focus.   Finally, after Monday's near-record breaking drop, he was slapped in the face with reality.  Starting at Monday's afternoon presser anyone not biased could see he changed his tone and focus.  As I mentioned, I really liked what I saw from him at Tuesday's presser.  Haven't seen much in the past two days because I've been a bit busy.  

 

I try, and have, given trump credit when it's due.  I don't know that many of you can say that you've ever criticized him for anything. As I also said from the beginning, showing leadership on this from the start would compensate for any impact on the economy.  I don't think he did, but I also think the Dem leadership has been so bad that he can overcome that poor start.  The only person who can stop him, is himself....

 

 

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1 minute ago, Koko78 said:

 

Should the oil be transported by rail, truck, or magic...? You know, since pipelines are apparently evil now.

They should use empty plastic water bottles. That would be a good use of them. 

Let's see. A barrel of oil is 42 gallons. So 77 million barrels is roughly 3,234,000,000 gallons. 

 

Tanker ships can haul between 310,000 and 550,000 barrels of oil. 

So we're looking at about 150 + large tankers worth of oil. 

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29 minutes ago, Deranged Rhino said:


Posted earlier but: 

 

 

Owned. By. China. 

 

Not our friends. 

So it looks like they were relying on evidence from China, not their own analysis?  Regardless, according to the various articles posted, WHO was offering the German protocol for testing on Jan 17, which we opted not to adopt. Developing our own which became available Jan 28.  Time and testing are critical to mitigation efforts.  We failed at both, which puts us where we are...  

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11 minutes ago, TPS said:

So it looks like they were relying on evidence from China, not their own analysis?  Regardless, according to the various articles posted, WHO was offering the German protocol for testing on Jan 17, which we opted not to adopt. Developing our own which became available Jan 28.  Time and testing are critical to mitigation efforts.  We failed at both, which puts us where we are...  

 

They pushed blatantly untrue information as fact, and cost the world weeks. Add that to their faulty tests and the WHO is clearly either not a reliable institution or purposefully care more about appeasing the CCP than their actual stated mission. 

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20 minutes ago, TPS said:

@3rdnlng  I didn't want to copy all what was posted by quoting, so...

First, posting a defense using Breitbart is like me using MSNBC or Krugman.  The first response is always "consider the source."  That said...

 

As the Politifact article said, WHO adopted the German protocol on Jan 17, but the US decided to develop their own which became available Jan 28th.  Certainly our choice, but one delay.  Then, the issue you noted about the failure with its test.  Regardless, for many different reasons, testing was too slow to be implemented which led to the inability to control the outbreak by mitigation.  In fact, we still are not testing enough.  Erie county said they no longer have the ability to test. Incredible.  I'm not sure why..?

 

My main issue throughout has been Trump not taking it seriously enough, and seeming to be more concerned about the economy and stock market. I posted that video of him at the CDC talking about bringing the cruise ship in to SF and his comments about higher numbers being bad.  You guys responded that's just they way he talks or something to that effect.  throughout this time, many in the administration were singing the same tune, saying it was being contained (Kudlow and others).  Even Trump was saying it was under control.  It was not until the stock market took its first huge drop that he started to focus more.  He gave his address to the nation, which created more confusion than confidence.  At Sunday night's presser, he came out all giddy talking about the Fed's rate cut to zero, and saying "Wall Street would be very happy."  They weren't.  Investors aren't stupid.  They recognized the lack of focus.   Finally, after Monday's near-record breaking drop, he was slapped in the face with reality.  Starting at Monday's afternoon presser anyone not biased could see he changed his tone and focus.  As I mentioned, I really liked what I saw from him at Tuesday's presser.  Haven't seen much in the past two days because I've been a bit busy.  

 

I try, and have, given trump credit when it's due.  I don't know that many of you can say that you've ever criticized him for anything. As I also said from the beginning, showing leadership on this from the start would compensate for any impact on the economy.  I don't think he did, but I also think the Dem leadership has been so bad that he can overcome that poor start.  The only person who can stop him, is himself....

 

jmho but...

 

the President should be worried about the economy and the markets. if they are going to thrust the wold economy into a global recession, that by itself could very well kill more people than a pandemic would. not saying he shouldn't be worried about them more than the CV scare, but one is possibly more impactful than the other.

 

as for your perception that he cares more about the markets, that may just be your perception of #orangemanbad than reality.

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45 minutes ago, Deranged Rhino said:

 

They pushed blatantly untrue information as fact, and cost the world weeks. Add that to their faulty tests and the WHO is clearly either not a reliable institution or purposefully care more about appeasing the CCP than their actual stated mission. 

 

Agree that they accepted China's false information about the ability to transmit the disease from person to person and also that test kits in China were defective.  Were the German kits the ones the Chinese were using?  Had thought the Chinese used their own test protocols.

 

And also understand that the WHO did NOT offer test kits to the US.  But, haven't seen anywhere that the German kits (which were the basis of the protocol that the WHO shared to 3rd world countries) were defective.  Were those defective too?

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56 minutes ago, TPS said:

Just another establishment politician. Never was impressed with him. If he was really knowledgeable he would have reinvested in the companies that manufacture Charmin, etc. and hand sanitizer/moisturizer. 

 

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Supposedly these sales were by a portfolio manager without input from the these Congress critters.  I say "supposedly" because who knows.  ?‍♂️ (Burr included)

Edited by Buffalo_Gal
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I recall an expose about congress and insider trading on 60 minutes some years back, then they supposedly passed a law  prohibiting....again, "supposedly"...

Totally agree with DR, us against them...

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16 hours ago, Deranged Rhino said:

 

They pushed blatantly untrue information as fact, and cost the world weeks. Add that to their faulty tests and the WHO is clearly either not a reliable institution or purposefully care more about appeasing the CCP than their actual stated mission. 

Yikes!

https://amp.ft.com/content/2a70a02a-644a-11ea-a6cd-df28cc3c6a68?__twitter_impression=true

 

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US tax filing deadline moved to July 15, Mnuchin says

 

Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US treasury secretary said on Friday.

 

"We are moving Tax Day from April 15 to July 15," Secretary Steven Mnuchin tweeted. "All taxpayers and businesses will have this additional time to file and make payments without interest or penalties."


He said he was acting at President Donald Trump's direction.

 

The White House had announced previously they were deferring tax payments for 90 days, but that Americans would still need to file by April 15.


Now, the deadline will be extended into the summer.

 

https://www.cnn.com/2020/03/20/politics/steven-mnuchin-tax-day-july-15/index.html

Problem in NYS for those trying to file for unemployment online. One women has been trying for 4 days and 30 hours without luck.

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14 minutes ago, ALF said:

US tax filing deadline moved to July 15, Mnuchin says

 

Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US treasury secretary said on Friday.

 

"We are moving Tax Day from April 15 to July 15," Secretary Steven Mnuchin tweeted. "All taxpayers and businesses will have this additional time to file and make payments without interest or penalties."


He said he was acting at President Donald Trump's direction.

 

The White House had announced previously they were deferring tax payments for 90 days, but that Americans would still need to file by April 15.


Now, the deadline will be extended into the summer.

 

https://www.cnn.com/2020/03/20/politics/steven-mnuchin-tax-day-july-15/index.html

Problem in NYS for those trying to file for unemployment online. One women has been trying for 4 days and 30 hours without luck.

still had to pay the states sales tax today.

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20 minutes ago, ALF said:

US tax filing deadline moved to July 15, Mnuchin says

 

Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US treasury secretary said on Friday.

 

"We are moving Tax Day from April 15 to July 15," Secretary Steven Mnuchin tweeted. "All taxpayers and businesses will have this additional time to file and make payments without interest or penalties."


He said he was acting at President Donald Trump's direction.

 

The White House had announced previously they were deferring tax payments for 90 days, but that Americans would still need to file by April 15.


Now, the deadline will be extended into the summer.

 

https://www.cnn.com/2020/03/20/politics/steven-mnuchin-tax-day-july-15/index.html

Problem in NYS for those trying to file for unemployment online. One women has been trying for 4 days and 30 hours without luck.

 

Speaking of NYS, are they also moving Tax Day to July 15?  

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The economic devastation that is now playing out before our eyes is not caused by the Wuhan flu virus.

 

In the last 21 days, approximately 162,000 Americans have died. Of that number, 150 were killed by the Wuhan virus. If governments at all levels had done nothing, other than eliminating regulatory barriers to the deployment of already-existing medicines, would the virus have killed more Americans? Yes, that is what flu bugs do. Would it kill more than the 13,000 or so who have died from this year’s seasonal flu virus? Who knows? More than the estimated 80,000 who were killed by the flu in the U.S. just two years ago? I doubt it: world-wide, it has killed only a little more than one-tenth that number.

 

The answers to those questions are speculative, but this is not: by dictating a virtual cessation of economic activity, governments at all levels, but especially state and local, are causing an economic collapse the likes of which, if it continues, we have not seen since the Great Depression, if ever. When has such a government-caused disaster comparably devastated a non-socialist country? Not often. 

 

I agree with the Wall Street Journal editorial that Scott quoted from this morning, but I think it is too mild. Here is a prediction: the deaths of Americans caused by the Wuhan flu bug will be dwarfed by the suicides committed by people whose life’s savings have been wiped out, whose businesses have been bankrupted, whose jobs have been lost, and whose prospects have been blighted by the insane overreaction we now see from our governments. That overreaction must stop. Right now. Before it is too late, if it is not too late already.

 

https://www.powerlineblog.com/archives/2020/03/stop-the-insane-overreaction.php

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7 minutes ago, B-Man said:

 

The economic devastation that is now playing out before our eyes is not caused by the Wuhan flu virus.

 

In the last 21 days, approximately 162,000 Americans have died. Of that number, 150 were killed by the Wuhan virus. If governments at all levels had done nothing, other than eliminating regulatory barriers to the deployment of already-existing medicines, would the virus have killed more Americans? Yes, that is what flu bugs do. Would it kill more than the 13,000 or so who have died from this year’s seasonal flu virus? Who knows? More than the estimated 80,000 who were killed by the flu in the U.S. just two years ago? I doubt it: world-wide, it has killed only a little more than one-tenth that number.

 

The answers to those questions are speculative, but this is not: by dictating a virtual cessation of economic activity, governments at all levels, but especially state and local, are causing an economic collapse the likes of which, if it continues, we have not seen since the Great Depression, if ever. When has such a government-caused disaster comparably devastated a non-socialist country? Not often. 

 

I agree with the Wall Street Journal editorial that Scott quoted from this morning, but I think it is too mild. Here is a prediction: the deaths of Americans caused by the Wuhan flu bug will be dwarfed by the suicides committed by people whose life’s savings have been wiped out, whose businesses have been bankrupted, whose jobs have been lost, and whose prospects have been blighted by the insane overreaction we now see from our governments. That overreaction must stop. Right now. Before it is too late, if it is not too late already.

 

https://www.powerlineblog.com/archives/2020/03/stop-the-insane-overreaction.php

  I worry about a jump in suicides.  A lot of businesses will look to automation that use little or no automation now.  People that did all the things "right" will be blindsided by the new way of doing things leaving them helpless long term.  Just so much ahead of us that our politicians and business leaders will not see until it gets to be a huge problem.

Edited by RochesterRob
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8 hours ago, bbb said:

 

Speaking of NYS, are they also moving Tax Day to July 15?  

 

If I heard Cuomo  at his press conference just now correctly , yes July 15 for NYS also.  Just wait for official notice.

 

U.S. and NYS tax filing deadlines pushed back to July

 

https://www.ontownmedia.com/coronavirus_pandemic/u-s-and-nys-tax-filing-deadlines-pushed-back-to/article_f0fca881-e9c8-5e43-a8da-e2441d593ea4.html

 

Still double check 

Edited by ALF
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Wall Street Journal EDITORIAL: Don’t Get Carried Away With Wuhan Coronavirus Shutdowns.

Financial markets paused their slide Thursday, but no one should think this rolling economic calamity is over. If this government-ordered shutdown continues for much more than another week or two, the human cost of job losses and bankruptcies will exceed what most Americans imagine. This won’t be popular to read in some quarters, but federal and state officials need to start adjusting their anti-virus strategy now to avoid an economic recession that will dwarf the harm from 2008-2009.

 

The vast social-distancing project of the last 10 days or so has been necessary and has done much good. Warnings about large gatherings of more than 10 people and limiting access to nursing homes will save lives. The public has received a crucial education in hygiene and disease prevention, and even young people may get the message. With any luck, this behavior change will reduce the coronavirus spread enough that our hospitals won’t be overwhelmed with patients. Anthony Fauci, Scott Gottlieb and other disease experts are buying crucial time for government and private industry to marshal resources against the virus. . . .

 

Perhaps we will be lucky, and the human and capitalist genius for innovation will produce a vaccine faster than expected—or at least treatments that reduce Covid-19 symptoms. But barring that, our leaders and our society will very soon need to shift their virus-fighting strategy to something that is sustainable.

 

Dr. Fauci has explained this severe lockdown policy as lasting 14 days in its initial term. The national guidance would then be reconsidered depending on the spread of the disease. That should be the moment, if not sooner, to offer new guidance on what might be called phase two of the coronavirus pandemic campaign.

 

 

.

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1 hour ago, RochesterRob said:

  I worry about a jump in suicides.  A lot of businesses will look to automation that use little or no automation now.  People that did all the things "right" will be blindsided by the new way of doing things leaving them helpless long term.  Just so much ahead of us that our politicians and business leaders will not see until it gets to be a huge problem.

My Dad might kill Himself if he has to spend one more day in isolation with my Mom. 
Not being allowed to go to the office is killing him. 

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2 minutes ago, Bakin said:

My Dad might kill Himself if he has to spend one more day in isolation with my Mom. 
Not being allowed to go to the office is killing him. 

I’m laughing cause my parents are in the same situation 

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4 minutes ago, Kevbeau said:

I’m laughing cause my parents are in the same situation 

 

And it hasn't even been a week.  

 

Being THAT parent, I'm worried about next week.

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10 minutes ago, Bakin said:

My Dad might kill Himself if he has to spend one more day in isolation with my Mom. 
Not being allowed to go to the office is killing him. 


My brother keeps checking the news to see if there has been a murder on our street. He's got a $50 bet going which one of us kills the other before this is finished. 

I had the last laugh though... yesterday was his wife's first day working from home. He couldn't get out fast enough to run errands for them, us, my son, and our mother.  He was practically hyperventilating at the idea of having to go home. ?


 

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