Opinion: How Many Will Die for the Dow?

[90DayFinancier 910]

How Many Will Die for the Dow? https://nyti.ms/2TuJYkf

 

In mid-March, after weeks in denial, Donald Trump finally admitted that Covid-19 was a serious threat and called on Americans to practice social distancing.

The delayed acknowledgment of reality — reportedly driven by concerns that admitting that the coronavirus posed a threat would hurt the stock market — had deadly consequences. Epidemiological modelers believe that tens of thousands of deaths might have been avoided if America had started lockdowns even a week earlier.

Still, better late than never. And for a little while it seemed as if we were finally settling on a strategy for containing the virus while also limiting the economic hardship caused by the lockdown.

But Trump and the Republican Party as a whole have now given up on that strategy. They won’t say this explicitly, and they’re throwing up various disingenuous explanations for what they’re doing, but their basic position is that thousands of Americans must die for the Dow.

[Dashinka 23,382]

Another one sided opinion that doesn’t look at the bigger picture.

[90DayFinancier 910]

5 hours ago, Dashinka said:

Another one sided opinion that doesn’t look at the bigger picture.

Another one sided opinion by a Novel Prize wining Economist.

[Dashinka 23,382]

15 minutes ago, 90DayFinancier said:

Another one sided opinion by a Novel Prize wining Economist.

What is a Novel Prize winning economist?  Btw, Krugman has proven time and again he is a partisan hack.

[Crazy Cat 39,674]

From the UK:  A medical expert who not a political hack says:

"IF the coronavirus lockdown lasts for six months 50,000 cancer patients could die prematurely, a top doctor is warning."

 

"Leading oncologist Professor Karol Sikora claimed cutbacks to cancer treatment amid the coronavirus pandemic will be a "death sentence" for many patients."

 

https://www.the-sun.com/news/725505/coronavirus-lockdown-six-months-cancer-patients-die/

Edited May 22, 2020 by Lucky Cat

[Voice of Reason 10,298]

Quote

Yet Trump and his party have come out against further aid to the unemployed and against helping beleaguered state and local governments. Instead, the party is increasingly putting all its hopes on a rapid reopening of the economy, even though that prospect terrifies health experts, who warn that it could lead to a second wave of infections and many more deaths.

I don't know anyone in my personal frame of reference who wants the second round of "stimulus aid".  Heck, I didn't want the first round.  I think it is a waste of money.  The only people who are for it are those sitting at home making over $1000 per week on unemployment that exceeds their working income.

 

Anyone with a lick of sense about them wants things opened up ASAP.  People are losing their livelihoods at a VERY rapid rate. 36 MILLION have filed for unemployment already.  How many small business will close for good? Hard to say yet, but I project a large number.  3 airlines have already closed their doors for good, along with a corporate jet company.

 

As for the bold part, which is ONE person's opinion, you can read about what the true health experts fear right here: 

 

[Voice of Reason 10,298]

13 minutes ago, Lucky Cat said:

From the UK:  A medical expert who not a political hack says:

"IF the coronavirus lockdown lasts for six months 50,000 cancer patients could die prematurely, a top doctor is warning."

 

"Leading oncologist Professor Karol Sikora claimed cutbacks to cancer treatment amid the coronavirus pandemic will be a "death sentence" for many patients."

 

https://www.the-sun.com/news/725505/coronavirus-lockdown-six-months-cancer-patients-die/

50,000 MIGHT die???

 

How about 100,000,000 WILL lose their jobs and struggle to survive?

 

Back in February or so, I had a post where I talked about how short the covid problem would last, and how long the economic recovery would last, and how it would devastate millions of people.  One poster in this thread responded with a glib "whatever".  

 

And here we are, 3 months later.  Covid deaths got nowhere NEAR the millions predicted, but the unemployed are growing quickly.  Around 23% unemployment just in the US alone, from the previous 3%.  And it's not like the long recovery is just my prediction, then or back in February.  

 

Quote

The Post-Coronavirus Unemployment Crisis Could Last for Years, Economists Say

https://time.com/5819080/unemployment-coronavirus/

 

[Crazy Cat 39,674]

10 minutes ago, Voice of Reason said:

50,000 MIGHT die???

 

How about 100,000,000 WILL lose their jobs and struggle to survive?

 

Back in February or so, I had a post where I talked about how short the covid problem would last, and how long the economic recovery would last, and how it would devastate millions of people.  One poster in this thread responded with a glib "whatever".  

 

And here we are, 3 months later.  Covid deaths got nowhere NEAR the millions predicted, but the unemployed are growing quickly.  Around 23% unemployment just in the US alone, from the previous 3%.  And it's not like the long recovery is just my prediction, then or back in February.  

 

https://time.com/5819080/unemployment-coronavirus/

 

Yep.  My point was that the shutdowns themselves are costing lives, too.  In my opinion, ending the shutdowns is not about "the dow".  It's about people being able to feed their families and about people being able to seek the healthcare they need.  It's a difficult situation all around.

Edited May 22, 2020 by Lucky Cat

[Voice of Reason 10,298]

1 minute ago, Lucky Cat said:

Yep.  My point was that the shutdowns themselves are costing lives, too.  In my opinion, ending the shutdowns is not about "the dow".  It's about people being able to feed their families and about people being able to seek the healthcare they need.

My apologies, I mis-read your meaning.  

It is tragic that so many have died from covid, no one is disputing that.  But in reality, I'd wager that 75-80% of those who have passed were going to die (soonish?) anyway from whatever covid assisted in hastening their death.  But the upcoming tolls, both economic and others related to the lockdown (suicide, alcohol abuse, domestic abuse, child abuse, etc.) are not going to be so easy to measure, and I'm not convinced they will be reported even when they are known.

[OriZ 3,157]

1 hour ago, Dashinka said:

What is a Novel Prize winning economist?  Btw, Krugman has proven time and again he is a partisan hack.

Yeah, it doesn't matter where you stand on this particular issue, the guy is nuts...

[Voice of Reason 10,298]

1 hour ago, 90DayFinancier said:

Another one sided opinion by a Novel Prize wining Economist.

They give prizes for writing novels?  I though the prize was a steady income?

 

Quote

Paul Krugman: Always Wrong, Never in Doubt

 

 

Quote

He’s a stopped clock who has yet to be right about Trump

 

Quote

One of the nation’s leading doomsayers has been the New York Times’ perpetually mistaken Paul Krugman, who warned shortly after the 2016 election that Trump’s victory would trigger a global recession “with no end in sight.” 

In other words, he's a Trump hater, so understandable why a certain demographic would gobble up his drivel.

 

 

[Oliversmom 250]

6 hours ago, Voice of Reason said:

I don't know anyone in my personal frame of reference who wants the second round of "stimulus aid".  Heck, I didn't want the first round.  I think it is a waste of money.  The only people who are for it are those sitting at home making over $1000 per week on unemployment that exceeds their working income.

 

Anyone with a lick of sense about them wants things opened up ASAP.  People are losing their livelihoods at a VERY rapid rate. 36 MILLION have filed for unemployment already.  How many small business will close for good? Hard to say yet, but I project a large number.  3 airlines have already closed their doors for good, along with a corporate jet company.

 

As for the bold part, which is ONE person's opinion, you can read about what the true health experts fear right here: 

 

My husband I are at home and we are getting NO unemployment.  We don't qualify and we didn't apply.  We haven't had a paycheck in two months.  I still don't have a stimulus check.  My husband got one and we needed it.  Were we desperate for it?  No.  But we needed it and I am definitely for another round of stimulus checks.  I am glad you didn't need yours but some people do.  

[90DayFinancier 910]

I know we have many economic phds here who know so much more about this than some of us, but providing income to people out of work is an economic zero thought needed scenario. Almost every dollar received goes right back into the economy which is probably -5%gdp for the year in the best scenario.

 

 

[Dashinka 23,382]

48 minutes ago, 90DayFinancier said:

I know we have many economic phds here who know so much more about this than some of us, but providing income to people out of work is an economic zero thought needed scenario. Almost every dollar received goes right back into the economy which is probably -5%gdp for the year in the best scenario.

 

 

It is not a zero sum game.  Someone has to pay for it, and the Federal Government is not a producer.  If someone needs help, there are already programs out there for that.

[90DayFinancier 910]

52 minutes ago, Dashinka said:

It is not a zero sum game.  Someone has to pay for it, and the Federal Government is not a producer.  If someone needs help, there are already programs out there for that.

Yes for Federal disasters there is FEMA. When the rich stepped up to the trough and got their cushy tax breaks last year, they had no problem driving up the deficit. Now people need to eat, need to search for work, need to pay rent due to extraordinary circumstances.