Fire With Fire
US economy shrank at annualized rate of 5 percent in first quarter

Sounds pretty bad, but still within the realm of prior experience with recessions.  Of course, if you do anything more than skim the headlines (probably 80% or more of the impressions for pieces like this one that I got from the Stocks App on my iPhone are not more than a quick glance), you would realize quickly that the State of Emerency was declared on March 13, and the economy was actually expanding up to that point.  You would also realize that this gross domestic product data reflects a grand total of 18 days of economic constriction.

If you bother to click on the linked headline and get to the Hill article and read to the last paragraph you see this:

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The first-quarter drop in GDP was the steepest seen in the U.S. since the Great Recession, but only covered the start of the coronavirus-driven pandemic. Economists expect GDP to have fallen by an annualized rate of up to 40 percent in the second quarter, which covered the depths of the downturn.


The Main Stream Media has over hyped the health damage and under reported the economic calamity from the very start of this affair. Incendiary headlines about spiking numbers and Trumpian Tweets are commonplace and frequently contradict the copy below, as with this gem from The Hill. 

The third quarter starts next Wednesday, and as some people return to work and businesses re-open, the gross domestic product will start back up.  Look for the headlines to come:  "Economy Roars Back to Life as GDP for July Rises by 7%!"  There is also a lot of fudge in that term, annualized, by the way, and data collection in our chaotically corrupt society is not very reliable.  Nevertheless, no matter what the "official" numbers say, public life was shut down suddenly, without any warning and literally billions of transactions were disrupted mid stream.  Some incalculable number of business entities saw their revenue come to a screeching halt -- and everybody those entities did business with saw their income cut as well.  That is the domino effect of a recession.

Nobody has ever analyzed an intentional Depression.  But I have been insulted as a Trumpian asshole indifferent to human suffering for just saying that a democratic society has to take its cost into account.

Three and a half months into this global clusterfuck, my beef remains the same.  The virus is a serious threat to public health and calls for a coordinated response involving the mass of the population.  Due to either intentional malfeasance or grotesque institutional incompetence or both, that response has been a disaster in and of itself.  

As I posted two months ago, modern medicine embraces the concept of triage -- making very cold blooded decisions about who shall live and who shall die based upon the limits imposed by crisis.  But from the start until now, any discussion of how much damage the lockdown will cause is dismissed out of hand with invective laden contempt for your desire to kill old people.  I lost a friend in real life for that precise reason -- when I pointed out that the supposed cure might be worse than that the disease.  Just putting it in the conditional like that rang Pavlov's Bell and the Trump Derangement Syndrome kicked in and the guy starting frothing at the mouth.  

That is the result of propaganda.  Not science.  Propaganda.  Still blasting away in headlines from almost every computer screen as the future has been cancelled for some reason that I still cannot fathom.
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beebee
If not for a bungled response, it didn’t have to be and either or situation.
Either one’s health or the economy.

Now we are between a rock and a hard place and whose fault is that?

He may not have created the virus but how he chose to respond to it, saying it would magically disappear
and by not setting the example of even wearing a mask to prevent the spread, holding indoor rallies is all on him.
We will not win fighting what we hate but by saving what we love.

Keep Calm and Carry On 👍


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beebee
We will not win fighting what we hate but by saving what we love.

Keep Calm and Carry On 👍


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Sriracha
beebee wrote:
If not for a bungled response, it didn’t have to be and either or situation.
Either one’s health or the economy.

Now we are between a rock and a hard place and whose fault is that?

He may not have created the virus but how he chose to respond to it, saying it would magically disappear
and by not setting the example of even wearing a mask to prevent the spread, holding indoor rallies is all on him.


Damn straight!

Trump should be removed from office either by the 25th amendment or through impeachment and removal by the Senate. He is now a national security risk. Actively promoting the spread of a deadly virus. 
Pipeline and Railroad across the Berring Strait: Bye bye middle east quagmires. Bye bye 23ft/gal super tankers polluting the world. Add a highway to that. Then we can drive to Asia, Europe and Africa. Road trip heaven!
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