RiverDog wrote:Ok, smarty pants, here's the "real" unemployment:
More than 10 million Americans are still out of work, and millions more have stopped searching for a job. The January employment report showed that 5 million people left the work force that month.
"The Bureau of Labor Statistics reports that many unemployed individuals have been misclassified as employed," Powell said. "Correcting this misclassification and counting those who have left the labor force since last February as unemployed would boost the unemployment rate to close to 10 percent in January."https://www.nbcnews.com/business/econom ... e-n1257331Versus the reported unemployment rate was in the 70's:
After 1974, unemployment averaged 7.9 percent and some years saw the rate reach more than 9 percent, according to the BLS.https://bizfluent.com/info-7751089-unem ... 1970s.htmlBy the time you add the long term unemployment rate to the reported rate in the late 70's it far exceeds what the "real" unemployment rate is today.
What are you even talking about? You obviously have near zero clue what is going on with the economy. You are fortunately retired, so it will have a minimal effect on you.
The hospitality industry is going to be the last to recover and likely won't until the 3rd quarter.
And the aviation industry and the cruise industry and brick and mortar retail and city real estate since many companies went to a work from home plan. The economic damage is going to be hard to track at this point until the stimulus is stopped and we see who takes the hits.
The stock market is a huge component in the health of the economy. Companies use the sale of their stock to finance capital improvements and do the other things that keeps their business competitive. The fact that the stock market is strong is a good sign of impending economic recovery.
You don't even much follow the stock market or know much about it? Companies sell stock when they initiate an IPO, dilute their stock by selling additional stock, or sell stock they have purchased on the balance sheet. Otherwise it's trading ownership parts of companies.
Did you even read on the stock market manipulation from Gamestop or AMC?
Stock market valuations are at all time highs. Stock market is not healthy. Investing is a situation where you put your money where it will gain the most. With interest rates artificially low, there is nowhere else to put your money but the stock market or real estate, which drives both investment sectors into bubble territory where they are now. This is not a healthy stock market.
It's already getting open again. Indoor dining at restaurants, albeit it at reduced capacity, was allowed in my community last week. Schools are returning to in-person learning. But to answer your question, I can't answer it. It's like asking how many deaths are acceptable in a war.
But I do think that there should be a thorough review of the actions taken during this pandemic and see what worked and what didn't. I am not convinced that the shutdowns were all that effective. California had some of the strictest restrictions in the country yet they performed horribly, worse than Florida, which was one of the least restrictive. Some of the worst hit states, like the Dakotas, were some of the least populated.
Yes. And like I said, the death rate hasn't dropped substantially, but they are re-opening. I believe even if we get a surge again, they will still re-open.
We cannot sustain with these lockdowns. It is too much economic damage. Even the Democrats and the rest of the world are starting to see that hell or high water, vaccine works or doesn't, it don't matter any more. We gotta open and go or we are heading for an economic collapse of epic proportions. No amount of debt or money printing is going to stop it if we don't reopen.
We're even adding 1.9 trillion more debt possibly next month. It's go time regardless of the circumstances. Both sides know we can't keep adding this debt. We gotta re-open.
Hopefully vaccine works, but even if it doesn't we're rolling. Economic lockdowns are unsustainable.
I knew it would reach this point and am only hoping these vaccines cut the death rate to a lower level. If we can get under a 100 k a year, it will be good. Lower than that even better.