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  • The U.S. undoubtedly will suffer a huge economic contraction as businesses close and Americans stay home. By some estimates, the economy is headed toward its worst quarter in records since 1947. JPMorgan Chase & Co. expects gross domestic product to shrink at an annualized rate of 14% in the April-June period while Bank of America Corp. and Oxford Economics both see a 12% drop. Goldman Sachs Group Inc. sees a 24% plunge.

    In a Bloomberg interview on Sunday, Federal Reserve Bank of St. Louis President James Bullard predicted the unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in GDP.
    ​​​​​​​.https://www.bloomberg.com/news/artic...-s-sudden-stop

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    • Yeah, fuck all of this. How many people will die from a massive economic collapse vs how many will die from Coronavirus?

      Social distancing and self-isolation for a while is fine, but then the show needs to get back on the road.

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      • Originally posted by DPR View Post

        Yeah, fuck all of this. How many people will die from a massive economic collapse vs how many will die from Coronavirus?

        Social distancing and self-isolation for a while is fine, but then the show needs to get back on the road.


        I think we’ll need to have some social distancing for a while, but it’ll have to be much more limited within a month. We should start by firebombing the people still going to beaches.

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        • My office just extended the non-essential employee ban for our main campuses to the end of April. My guess is that will be the hard stop for most.

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          • My company divided us into a team A and B. Half of us work in the office one week (I’m in the office this week) half work from home that week (I’ll be home next week). They gave us a letter incase we get stopped to show the authorities about how our company as a food distribution company is still allowed to operate, and advised us to keep our business cards on us at all times just to further prove it.

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            • Welllll shit, Justice just locked us down with a stay in place order starting tomorrow at 8pm. Already got my guy making a delivery. If I can’t go outside I’m sure as fuck not gonna be sober.

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              • Originally posted by DPR View Post

                Yeah, fuck all of this. How many people will die from a massive economic collapse vs how many will die from Coronavirus?

                Social distancing and self-isolation for a while is fine, but then the show needs to get back on the road.
                Been saying this for awhile now. They need to think about how many people are going to commit crimes now that otherwise wouldn’t, kill themselves, etc.

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                • President Donald Trump is pledging to fund National Guard missions in New York, Washington and California to help stem the spread of coronavirus.

                  https://www.bloomberg.com/news/artic...ornia-new-york

                  Grab your guns, Obama is sending in the army!

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                  • President Trump’s reluctance to use the Defense Production Act has been one of the most enduring mysteries of the coronavirus epidemic. The Defense Production Act is a 1950 law allowing the federal government to redirect vital industry for use in a crisis (primarily a war, but an epidemic would also do). Hospitals are desperately short of ventilators and respirators, and governors, doctors, and public-health officials have begged Trump to invoke the act to direct emergency production before hospital staff gets infected and patients begin dying.

                    Trump’s diffidence is puzzling, given his normal tendency to push presidential authority to, or well past, its constitutional limits. This is a president who claimed national-security powers to slap tariffs on steel from Canada and Mexico, and to build a border fence.

                    The New York Times resolves the mystery. Trump has refused to invoke the act because big business doesn’t want him to. “The U.S. Chamber of Commerce and the heads of major corporations have lobbied the administration against using the act,” the Times reports. “They say the move could prove counterproductive, imposing red tape on companies precisely when they need flexibility to deal with closed borders and shuttered factories.” Trump, Lawrence Kudlow, and Jared Kushner all reportedly found these arguments persuasive.
                    https://nymag.com/intelligencer/2020...ntilators.html

                    We should give them money so they don't have to threaten to lay people off anymore.

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                    • Originally posted by Spartan View Post


                      https://www.bloomberg.com/news/artic...ornia-new-york

                      Grab your guns, Obama is sending in the army!
                      Jade Helm?

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                      • Originally posted by Spartan View Post

                        https://nymag.com/intelligencer/2020...ntilators.html

                        We should give them money so they don't have to threaten to lay people off anymore.
                        We're so baked into partisanship that this won't really move the needle much, but to a completely nonpartisan person, I cannot fathom how they wouldn't view Trump's handling of this pandemic to be incredibly incompetent and ghoulish.

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                        • https://www.axios.com/chloroquine-co...m_content=1100

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                          • GA had the attempt to do a state wide shelter and went with old sick people have to stay home. What a joke.

                            Stupid press conference says we’re building triage units and not fixing the problem.

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                            • Originally posted by ivegostdacityblues View Post

                              NJ Man claims the anti-malaria drug is helping him.....so there
                              https://www.nj.com/coronavirus/2020/...m-recover.html

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                              • I’m still kind of in disbelief. Our gov just announced hospitals are making out, we’re building more makeshift places to house people, we’re waiting for the fed to give us stuff and as long as you don’t have aids, we kind of don’t want you to go places.

                                How did this “save business” shit become such a thing? Business is fucked right now minus grocery store hoarding.

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