The State of the Economy Thread - “Falling inflation, rising growth give U.S. the world’s best recovery”

[Renegade7]

If the GOP does actually get annihilated, this could be closest we come to one party rule in this country's history.  It's going to take the 2022 mid-term to help finish them off so they really aren't in the way anymore, but what will that actually look like when half the country is still conservative?

 

How many bills have the house passed that the senate won't even vote on?  Absolutely they'll raise taxes once the GOP can't stop them, but if they mess this opportunity up...history has their eyes on them, that's for sure.

[Mr. Sinister]

7 minutes ago, Renegade7 said:

If the GOP does actually get annihilated, this could be closest we come to one party rule in this country's history.  It's going to take the 2022 mid-term to help finish them off so they really aren't in the way anymore, but what will that actually look like when half the country is still conservative?

 

How many bills have the house passed that the senate won't even vote on?  Absolutely they'll raise taxes once the GOP can't stop them, but if they mess this opportunity up...history has their eyes on them, that's for sure.

 

No more Mr Nice Dem

[PleaseBlitz]

15 minutes ago, Renegade7 said:

If the GOP does actually get annihilated, this could be closest we come to one party rule in this country's history.  It's going to take the 2022 mid-term to help finish them off so they really aren't in the way anymore, but what will that actually look like when half the country is still conservative?

 

How many bills have the house passed that the senate won't even vote on?  Absolutely they'll raise taxes once the GOP can't stop them, but if they mess this opportunity up...history has their eyes on them, that's for sure.

 

This convo should move to one of the political threads per the OP, but eliminating the filibuster to get serious **** done just (today) became the default position of the establishment wing of the Democratic party (it was already the position of the progressive wing).  Watch it happen:

 

 

[Hooper]

But Jared says this country was going to be rocking!

[tshile]

1 hour ago, Sacks 'n' Stuff said:

I am willing to bet copious amounts of money that there will be no such thing. Maaaaaaaaybe if we had gotten the virus under control but now, no chance. The recession will be deeper and longer than was originally predicted and it will take us years to recover.

Yeah that’s the problem. 
 

like i said, you have to look at who is saying what when. Respectable economists were suggesting that when this started. 
 

But unless you think people are going to continue to social distance when things are better, then there’s clearly pent up demand and it’s a question of how long before it gets released and what changes due to how long it took

[PleaseBlitz]

4 minutes ago, tshile said:

Respectable economists were suggesting that when this started. 

 

Everyone assumed that the most economically successful country on the planet would not have the most ineffective response to the pandemic out of every country regardless of their wealth (with the possible exception of Brazil).  That assumption was faulty.    

[tshile]

40 minutes ago, Renegade7 said:

If the GOP does actually get annihilated, this could be closest we come to one party rule in this country's history.

not going to happen. Dems may have control for a short period of time, but if the gop falls apart something will replace it. 
 

racism and other bigotry aside, the political opinions of this country are too diverse to support 1 party. 
 

I could even see the dem party fracture as the gop shrinks, more people are pulled into the dem party tent and sub groups form and fight against each other over the direction of the party. 
 

you think progressives are petulant children now? Wait until a large chunk of moderates, moderate-conservatives, and never-trump conservatives join because they need a team to root for and it’s the only sane one left, then start gaining and exercising influence on the party. The progressives could see a lot of gained ground lost and throw a **** fit. 
 

anyways the reality is that the idea that we’re destined to be a 2 party country (rising third parties get gobbled up by one of the two) cuts both ways - if one falls into disrepair a new one will replace it somehow to continue the fight. 
 

ranked voting is the only solution to it all in my opinion. Prevents one side from winning just because the other side has some diversity in policy ideas. 

 

Edited July 30, 2020 by tshile

[CousinsCowgirl84]

I don’t think governors are willing to close down again like they did in March.  We saw that in Virginia where Dr Birx recommending applying restrictions on the entire state after Hampton Roads saw spikes, but the governor acted very small measures in Hampton Roads only...

I don’t know about a v shape recovery but given that gdp was down 35 percent in one quarter it is reasonable to see 5-6 percent growth over several quarters, just because  of how far down we already are. I would be shocked if we saw several quarters of negative gdp after gdp dropped by 35 percent.... 

 

Edited July 30, 2020 by CousinsCowgirl84

[tshile]

Just now, PleaseBlitz said:

 

Everyone assumed that the most economically successful country on the planet would not have the most ineffective response to the pandemic out of every country regardless of their wealth (with the possible exception of Brazil).  That assumption was faulty.    

Well and people (some not all obviously) assumed we weren’t so dysfunctional as a people. 
 

in the past we’ve managed to put our political differences aside when the **** hit the fan. Apparently those days are gone 

 

can we blame boomers for this too?

[PleaseBlitz]

GDP was down 9.5%, the 35% figure is if were annualized. 

2 minutes ago, tshile said:

Well and people (some not all obviously) assumed we weren’t so dysfunctional as a people. 
 

in the past we’ve managed to put our political differences aside when the **** hit the fan. Apparently those days are gone 

 

can we blame boomers for this too?

 

Totally agree.  When I said we had the most ineffective response, I'm not solely blaming Trump.  "The People" collectively ****ed it up.  Not everyone, but enough to ruin it for everyone. 

[tshile]

5 minutes ago, PleaseBlitz said:

GDP was down 9.5%, the 35% figure is if were annualized. 

Yeah too many people are missing that

 

but most of them don’t really understand much of it anyways. they just like graphics and charts that have big changes

 

Drop marginal propensity to consume, if their eyes glaze over just walk away 

Edited July 30, 2020 by tshile

[Renegade7]

1 hour ago, tshile said:

 

ranked voting is the only solution to it all in my opinion. Prevents one side from winning just because the other side has some diversity in policy ideas. 

 

 

Not enough, political parties have failed us and will continue to be threat until they are eliminated. Something two parties will never agree, likely can only happen during the transition of one party being replaced to maintain two party balance. It's gonna happen again.

 

Edit: to add, I agree one party rule can't work, just not your solution for living with political parties.  Look how close we have come to one party rule with GOP instead.

Edited July 30, 2020 by Renegade7

[China]

Another brilliant Trump success story:

 

Almost 30 Million in U.S. Didn’t Have Enough to Eat Last Week

 

Food insecurity for U.S. households last week reached its highest reported level since the Census Bureau started tracking the data in May, with almost 30 million Americans reporting that they’d not had enough to eat at some point in the seven days through July 21.

 

In the bureau’s weekly Household Pulse Survey, roughly 23.9 million of 249 million respondents indicated they had “sometimes not enough to eat” for the week ended July 21, while about 5.42 million indicated they had “often not enough to eat.” The survey, which began with the week ended May 5, was published Wednesday.

 

The number of respondents who sometimes had insufficient food was at its highest point in the survey’s 12 weeks. The number who often experienced food insufficiency was at its highest since the week ended May 26.

 

Click on the link for the full article

 

At this point I'm hoping history repeats itself, and Melania says "Let them eat cake" and her husband befalls to the same fate as Louis XVI.

[The Gibber]

If they are starving the people and then try to delay/steal the election, i could see an actual storming the castle scenario which is frightening. 

[Mr. Sinister]

1 minute ago, The Gibber said:

If they are starving the people and then try to delay/steal the election, i could see an actual storming the castle scenario which is frightening. 

 

Frightening but necessary.  May come down to a thousand armed civilians vs a few dozen secret service agents, or Barrs storm troopers

[TheDoyler23]

On 7/30/2020 at 1:04 PM, Renegade7 said:

 

 

And you are dead on with the note on residential real estate.  Wife and I have been watching larger properties for rent in Zillow getting goobled up almost as quickly as they are listed now, our lease us up in end of October, we are at a point (both working from home), that not only do we need a bigger place then we originally planned for, but we gonna focus on having the cash on hand to deal with how competitive it got all the sudden. 

 

 

The housing market locally is bananas. I sold my house this summer and there were 50 showings and 4 offers in 3 days. I mean, maybe home volume will catch up a bit with some people experiencing hardship, but right now the demand is vastly outpacing supply. 

[Renegade7]

1 hour ago, TheDoyler23 said:

 

The housing market locally is bananas. I sold my house this summer and there were 50 showings and 4 offers in 3 days. I mean, maybe home volume will catch up a bit with some people experiencing hardship, but right now the demand is vastly outpacing supply. 

 

It's probably going to flip once UI starts to go to hell rate we going, worried what October will look like economically. Gonna be a lot places folks can't afford anymore, I believe the talk of folks leaving cities because of costs and not having a commute anymore. Resisting moving back to DC for now.

[Destino]

1 hour ago, Mr. Sinister said:

 

Frightening but necessary.  May come down to a thousand armed civilians vs a few dozen secret service agents, or Barrs storm troopers

 

if they delay the election I’d be looking for a place to stash my family, because that’s the one scenario where I could see Americans turn really violent.  It wouldn’t be a few thousand armed citizens, I think you’d see rioting and more direct violence explode all over the country.  Messing with elections is a serious line in the sand.  

I suspect congressional leaders know this, which is why the republican response to Trump was so unusually blunt.  If he tries it, they’ll impeach him and create a standoff.  

 

[Mr. Sinister]

30 minutes ago, Destino said:

 

if they delay the election I’d be looking for a place to stash my family, because that’s the one scenario where I could see Americans turn really violent.  It wouldn’t be a few thousand armed citizens, I think you’d see rioting and more direct violence explode all over the country.  Messing with elections is a serious line in the sand.  

I suspect congressional leaders know this, which is why the republican response to Trump was so unusually blunt.  If he tries it, they’ll impeach him and create a standoff.  

 

 

Canada would be my first thought (which clearly triggered some folks when I said it before), but at this point I think the border would be closed. And IF that were to happen, I would be so pissed that it's not out of the realm of possibility that were I to catch wind of an armed mob headed towards DC, I'd grab my **** and go join them.

[dfitzo53]

2 hours ago, TheDoyler23 said:

 

The housing market locally is bananas. I sold my house this summer and there were 50 showings and 4 offers in 3 days. I mean, maybe home volume will catch up a bit with some people experiencing hardship, but right now the demand is vastly outpacing supply. 

Yeah my sister sold her house outside of Indianapolis in one day.

[visionary]

 

[Mr. Sinister]

1 hour ago, dfitzo53 said:

Yeah my sister sold her house outside of Indianapolis in one day.

 

Damn lol

[skinsmarydu]

12 minutes ago, Mr. Sinister said:

 

Damn lol

That's exactly what I said, out loud. 😆

I'm about to own mine outright (I believe Chase is purposefully slowing things down so they get as much interest as possible via payments 🤬). 

[dfitzo53]

32 minutes ago, Mr. Sinister said:

 

Damn lol

Haha yeah, lots of pent up demand apparently.

[PleaseBlitz]

1 hour ago, dfitzo53 said:

Haha yeah, lots of pent up demand apparently.

It’s the rock bottom interest rates and a lack of supply.