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(CNBC)   Good news everyone, the recession is over. Now if you could all stop foraging through the dumpster behind my mansion that'd be swell   ( divider line
    More: Dumbass, Unemployment, Great Depression, good news, Monetary policy, second wave, Mark Zandi, last week's jobless claims report, unemployment benefits  
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433 clicks; posted to Business » on 04 Jun 2020 at 9:35 AM (15 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook

11 Comments     (+0 »)
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2020-06-04 9:27:50 AM  
Well, with that line of thinking only 5% of the US has Covid.  Which is a small percentage, so everything should be fine.
2020-06-04 9:34:08 AM  
...the steep drop in private payrolls for May could be a sign that the worst over .

War is peace.
2020-06-04 9:40:23 AM  
All the jobs are already gone, so there are no more to lose.

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2020-06-04 9:46:00 AM  
Mark, the economy will not recover until the risk of getting sick and dying from the virus is either gone or significantly reduced.  Movie theaters are closed.  Restaurants are at 25-50% capacity.  Air traffic is down 90%.
2020-06-04 9:48:24 AM  
"The good news is I think the recession is over, the Covid-19 recession is over, barring another second wave, a major second wave, or real serious policy errors,"

So we're screwed.
2020-06-04 9:59:35 AM  

enry: "The good news is I think the recession is over, the Covid-19 recession is over, barring another second wave, a major second wave, or real serious policy errors,"

So we're screwed.

I've never seen this administration make policy errors.  The farkering is completely intentional, so billionaires will be fine.  I hope you still have two good kidneys, selling one ought to make enough for you to pull through.
2020-06-04 10:01:42 AM  
We're not really done with the first wave. Latest graph for the DC Metro area:

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Those curves need to be dipping way down before we "open the economy". Dead people don't buy stuff, you know.
2020-06-04 10:44:17 AM  
What a moron
2020-06-04 11:17:08 AM  
That reminds me a bit of certain clueless ivory tower economics dolts who sought to minimize what was going on in 2008. "Oh, we'll have this correction, little bump in the road, return to growth next quarter, and the recession will be over..." Perhaps that analysis was even close to correct, if you stick to the technical definition of recession. But that definition has problems. It doesn't seem to account for things sinking so far that a little bit of growth doesn't come remotely close to getting unemployment under 10%, nor preventing the Fed from having to print money to avoid a deflationary spiral.
2020-06-04 11:39:49 AM  
2020-06-04 12:15:16 PM  
History: When the stock market crashed in 29, it took 18 months for the country to feel the full effect.

Our world runs a bit faster these days but the worst has yet to come I'm afraid.

Evil and dis-merit is not sustainable and the swing back to correct is a b-tch.  The more out of balance the system, the more has to be done to bring back to equilibrium.  The quicker it happens, the more violent or disruptive it tends to be but more it was needed and demanded.
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