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CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"

 
Anonymous Coward
User ID: 75913967
United States
03/21/2020 12:15 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
They will wind up extending unemployment benefits to unprecedented lengths too
 Quoting: Anonymous Coward 75057918


This time they really may HAVE to..
This had potential to be far worse than 08
 Quoting: monkey4truth


Lmao no

Just remove the lock down and let people go back to work. Its that simple.
Anonymous Coward
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03/21/2020 12:17 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
What the fuck do you expect when you force everyone to stay home?

Is this the twilight zone? Why is fake news surprised that they blew this out of proportion and made businesses shut down? Of course the economy crashes

Its not rocket science
 Quoting: Anonymous Coward 75913967


lucky
Anonymous Coward
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03/21/2020 12:22 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
no recovery from that.. catastrophic collapse, much worse than the virus would have done had everyone just went about their business the best they could, and let this run it's natural course 9as bad as that would have been). It's like they are committing mass suicide over fear and panic of this virus.
 Quoting: Anonymous Coward 77192746


hesright
 Quoting: Anonymous Coward 76549089


Not exactly. If you let it go, when the Virus overwhelms the health care system you end up with panic as soon as all healthcare stops. People fighting to get there loved ones into hospital - mortality rates skyrocket, no treatment for cancer, heart attacks, car accident victims etc etc. Mass panic and social upheaval. Sorry to say that as bad as this is sucking now, it models much better than just letting it go.

I am ex-military and I am very worried that no matter how hard we try we wont be able to keep things peaceful. But we have to try no matter how hopeless it looks.

Good luck --- kindness and calm are the best weapons we all can use. If nothing else grow a garden and share with your neighbors. Its the right thing to do.
Anonymous Coward
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03/21/2020 12:26 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
They will wind up extending unemployment benefits to unprecedented lengths too
 Quoting: Anonymous Coward 75057918


This time they really may HAVE to..
This had potential to be far worse than 08
 Quoting: monkey4truth


Lmao no

Just remove the lock down and let people go back to work. Its that simple.
 Quoting: Anonymous Coward 75913967


Then you get a case number in the millions within a couple weeks. If this thing killed fast then yes, your idea would work fine. But it doesnt. The death takes 3-4 weeks.Unlike right now, people wont want to work. At least we have work hungry people now.
Anonymous Coward
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03/21/2020 12:27 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
Company gave out letters for “TRAVEL AUTHORIZATION” homeland security declared us critical operations.
Anonymous Coward
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03/21/2020 12:47 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
House had rats.

Burned the house down to solve rat problem.

Rat problem solved.

House gone too.
Anonymous Coward
User ID: 5896465
United Kingdom
03/21/2020 12:54 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
The government will be issuing a third the country's paychecks for 3 months and bailing out the corporations they deem "too big to fail" .. watch that federal debt to GDP ratio spike up to 150% real fast as the GDP contracts.

How long until we have a currency collapse or hyperinflation?

[link to www.usdebtclock.org (secure)]
 Quoting: Sholomar
Anonymous Coward
User ID: 5896465
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03/21/2020 01:00 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
The government will be issuing a third the country's paychecks for 3 months and bailing out the corporations they deem "too big to fail" .. watch that federal debt to GDP ratio spike up to 150% real fast as the GDP contracts.

How long until we have a currency collapse or hyperinflation?

[link to www.usdebtclock.org (secure)]
 Quoting: Sholomar


I've been thinking about this a lot recently. The government over here are supplying people with money to keep them going but as supplies (food) run short the prices will rise. As time goes on food will become increasingly scarce and more expensive to the point where it may become more valuable than money.
Anonymous Coward
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03/21/2020 01:01 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
Despite the fact that we all hate it, we shoulda locked down everything immediately and firmly, and 2-3 weeks later all the covid would have died off on it's own without spreading new colonies to other people, and problem solved, we'd have been back to normal by now.

another do
 Quoting: Anonymous Coward 78489110

You would have had to lock down the entire world, and that will never happen. If we lock down for 30 days in the USA, that's great. We might even kill off the virus in the USA.

But as soon as you begin letting international travel resume, BOOM, you are back into a pandemic again. We'd need to quarantine in place for a month, AND lock down international travel for 12-18 months. And that means closing our borders TIGHT! Then we might see our way thru this.

As long as we allow international travel, we're on the 12-18 month 'run it's course' program, regardless of how many internal quarantines we entertain along the way.
Anonymous Coward
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United States
03/21/2020 01:17 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
Despite the fact that we all hate it, we shoulda locked down everything immediately and firmly, and 2-3 weeks later all the covid would have died off on it's own without spreading new colonies to other people, and problem solved, we'd have been back to normal by now.

another do
 Quoting: Anonymous Coward 78489110

You would have had to lock down the entire world, and that will never happen. If we lock down for 30 days in the USA, that's great. We might even kill off the virus in the USA.

But as soon as you begin letting international travel resume, BOOM, you are back into a pandemic again. We'd need to quarantine in place for a month, AND lock down international travel for 12-18 months. And that means closing our borders TIGHT! Then we might see our way thru this.

As long as we allow international travel, we're on the 12-18 month 'run it's course' program, regardless of how many internal quarantines we entertain along the way.
 Quoting: Anonymous Coward 74851360


This isn’t the blob we’re talking about. It will fade.

People will die who were nearing their end.

Another virus will come along in its place.

Need a better plan. This one should never happen again.
Anonymous Coward
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03/21/2020 01:17 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
Company gave out letters for “TRAVEL AUTHORIZATION” homeland security declared us critical operations.
 Quoting: Anonymous Coward 78655159

Post a pic of it.
meko1999

User ID: 78603319
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03/21/2020 01:28 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
But everybody will be going back to work in a month or two, folks back eating in restaurants and traveling and going shopping, and 3rd quarter GDP will be up at least 24%, maybe 34%, from the 2nd quarter due to pent-up demand, so it's no big deal right?

Last Edited by meko1999 on 03/21/2020 01:37 AM
Anonymous Coward
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03/21/2020 01:40 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
But everybody will be going back to work in a month or two, folks back eating in restaurants and traveling and going shopping, and 3rd quarter GDP will be up 24%, so it's no big deal right?
 Quoting: meko1999

Unless the promising treatments come online soon and make a quick & huge impact, this work stoppage will either likely last 12-18 months, or the .gov will do like China and send people back to work in the middle of the pandemic.

Then pandemic resurgence and catastrophic deaths will be assured. But at least the sheep will be back to work. High sickness & death turnover means lots of perpetual job openings.

Assuming the People don't panic, riot, and burn down the House.
RomanianGuy

User ID: 78579570
Romania
03/21/2020 01:49 AM

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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
no recovery from that.. catastrophic collapse, much worse than the virus would have done had everyone just went about their business the best they could, and let this run it's natural course 9as bad as that would have been). It's like they are committing mass suicide over fear and panic of this virus.
 Quoting: Anonymous Coward 77192746


No, you should figure out that this is far more dangerous than they are saying publicly, since everyone went to such suicidal lengths. You do realise they analysed both the costs and benefits of such a move? Since the costs are so huge, the danger is also huge.
Doom mood!
Time to Dance Again:
Thread: Totentanz
Anonymous Coward
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03/21/2020 04:39 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
Hope you have your tomato plants started...
HE-B-GB

User ID: 78055058
Canada
03/21/2020 04:42 AM

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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
Well, first: FUCK GOLDMAN SACHS
 Quoting: Elsabiades.. 78223825




I don't want to fuckem, I want to slit their sacks and run their legs through them.
“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

Thomas Jefferson
Anonymous Coward
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Romania
03/21/2020 07:16 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
CNBC: "Gold man sees
 Quoting: dr0id


Saw*
Anonymous Coward
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03/21/2020 07:48 AM
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Re: CNBC: "Goldman sees unprecedented stop in economic activity, with 2nd quarter GDP contracting 24%"
80% down





GLP