US weekly jobless claims soar to a record-breaking 3.28 million, vs 1.5 million expected

JD08

Evidence based and data driven
Joined
Dec 19, 2014
Messages
7,107
This is not unprecedented and i am looking at the situation realistically. How about you get your head out of your looney right wing ass and stop all the hysterics. Click on the link below. I bet this is a guy who is saying people should risk getting sick to go back to work, but yet what is he doing? He's being selfish.

maybe you didn't say exactly what i claimed you did, but one can logically say you were inferring it.

You can suggest he was implying it, but only you can infer it.
 

Empirical Cane

We are what we repeatedly do.
Joined
Sep 3, 2018
Messages
5,805
Dr Fauci and Dr Birx weren’t elected. It’s time to let somebody else decide what happens to this country. If we end up with 40% unemployment it wouldn’t bother them. As long as they get rid of the virus they are gonna be praised.
You are correct. They approach this issue fro. THEIR level of expertise. Economists and other disciplines approach it from THEIR expertise.

POTUS takes all sources he regards or disregards, and makes the decision.

Hooray democracy!
 

MichiCANE

Recruit
Joined
Nov 13, 2017
Messages
549
Would bet my life that a very large % of people over 80 would approve of America getting back to work ASAP. Because that group of individuals has at least some connection to a time when our country wasn't comprised of a bunch of woke, weak, PC minded people that get off on drama and hyperbole.

I am currently trying to save a small business of 55 employees and I am ashamed to say that more than half of our shop workers want to shut down "because the Governor said to". I am 35 years old and I am embarrassed to be a part of this generation. Literally 3.28 million people applied for UE and that is only going to go up in the next few weeks, and here I am fighting a group of people that think closing down will be the equivalent of a snow day. Try explaining to them how the real world works, but when they turn on the TV and hear about "free" money they would much rather go home and sit on their couch.

All of our shop workers are paid above minimum wage. Zero college graduates. Several felons. Several that did not graduate from HS. We have a generation of people that have fallen into the acceptance that it is ok to lean on, heck even expect and WELCOME the government coming to your rescue. It disgusts me.

Each day right now is touch and go for us because we can't operate if our shop shuts down. No union but there is no telling what these guys will try to pull. We received a waiver to stay open as an essential business due to the customers we serve (hospitals, utilities, government), and the owner is WILLING to run the business at a loss with NO FURLOUGHS yet these guys want to go home.

So if you still think everything will be "back to normal" in a few months, I have a bridge to sell to you.
This is the type of **** that drives me nuts. Especially the people who work at your shop. I feel like in the old days, people with similar backgrounds would kill to work during this time, and even pick up extra hours if possible because they don't know where their next meal is coming from potentially. But my generation expects handouts for everything. One of my good friends is like this, it drives me insane. Well, I should say former good friend, I'm kind of trying to distance myself from that group. Either way, **** drives me insane.
 

For_The_U

All ACC
Joined
Feb 21, 2018
Messages
5,094
Our direct actions led to the 08 collapse as well. Bankers/lenders/mortgage/and everyone else in that industry knowing gave loans to people they knew wouldn't be able to sustain the payments. Many people approved applications that were falsified. The whole industry was in on the money grab and it led to our economic collapse for a time, did it not?
Yes, but I'm not sure what that has to do with my last post. At the time of that economic collapse the damage had been done. There was nothing we could do at that point to unwind the damage or lessen it, all we could do is figure out what we were going to do moving forward. Again, this situation is unique in that we are the ones effectuating the economic harm against ourselves currently. That is the case today and will be the case tomorrow. That's why hammering the economic impact of this is critical, and the need to do that is constant. This is nothing like the housing crisis.
 
Joined
Feb 7, 2013
Messages
17,407
The market is forward looking about the economy. The fact that the market blew off unemployment numbers that were magnitudes worse than expected is a great sign that this is going to be turned around sooner rather than later.
Let’s hope so, in the meantime millions remain unemployed and the unemployment rolls will continue to grow
 

Fawk_U Haters

Junior
Joined
Jan 11, 2015
Messages
2,680
Please tell me when the entire country suffered and sacrificed so that a small percentage wouldn't get sick.
You keep saying a small percentage. Do you really think the percentage would stay small if we just opened back up?

How about this....it was a small percentage of society (housing industry) that triggered the 08 collapse. was it not
 

For_The_U

All ACC
Joined
Feb 21, 2018
Messages
5,094
Yep...nose itches, rubbing your eyes from fatigue, wiping sweat, etc.
I also realized how within about a minute of washing my hands, I've touched something that can easily be contaminated. I'll definitely be more aware from now on.
The problem for me is my current rate of paper towel usage is simply not sustainable longterm. Lol
 

Go Canes!!

All ACC
Joined
Feb 27, 2018
Messages
5,917
I find it funny how people like you are saying this is media driven hysteria in terms of the virus, but you don't think all of your economic doom and gloom talk isn't the same thing? Again it's just a different hysteria and it's being driven by the right wing media.

Here's a fact....after every single "Worst economic disaster ever" we've come back. This will not be any different. It won't take decades, but it might take some time. It sucks, but we just passed a bill that extends unemployment benefits for 39 weeks, up from 27 weeks with an additonal $600 per check. Maybe we shouldn't have given tax cuts, rate cuts, corporate welfare and everything else in "the greatest economy ever" then we wouldn't have to add so much to the deficit so much. It would have been useful to have those tools to use right now, but they used them up when they didn't need to. The economy will turn for the next 6 months because of this stimulus. It won't turn like it was, but we were destined for a recession very soon before the outbreak.

Imagine getting a foothold on the virus, then opening up the country and going back to where we were or being worse off on the containment of the virus. What do you think that will do to the economy? IMO 1 prolonged shut down is much better than 3 shut downs of lesser time when the virus breaks out again. Until we can test 2 million people/day and contain those with the virus we should do what we are doing.

And BTW also in the stimulus is about 850 Billion to make sure people don't lose their jobs so companies can keep people on payroll. Why not ask the corps to lose some money over the next 6 months to keep people employeed instead of asking people to risk their lives.

I hope you can see how this situation is far different than anything else this country has ever faced, including the banking meltdown.

And I don’t think anyone wants to go froM 0-100 as far as people returning to work. We need to take measures steps until a vaccine is developed, which in my opinion will be sooner than later.
 

NateDogg

G-Funk Era
Joined
Oct 15, 2012
Messages
1,500
Let’s hope so, in the meantime millions remain unemployed and the unemployment rolls will continue to grow
I hope this is true. My fear is that the UE numbers arent even close to topping out and when additional data comes out related to the economy it will show that we have a long road ahead. Here's to hoping investors can continue to focus on projections and the belief that this is not going to be a slow climb like the last recession.

I've read several people say they are very confident that based on how strong the economy was prior that this will not be a long recession. My concern with that from my personal perspective is that the business I am running right now can NOT just close for 2-4 weeks and then open back up like nothing happened. We have several customers that have expressed the same concerns, and those customers have also stated that they have several customers that are closed down permanently.

As a person with a great entrepreneurial spirit, this could provide a great opportunity for some. But we all should be aware that many industries have high capital costs, and those are not the kind of businesses you can decide to start from your garage. America needs small businesses to succeed in order for the economy to survive.
 
Joined
Feb 7, 2013
Messages
17,407
I hope this is true. My fear is that the UE numbers arent even close to topping out and when additional data comes out related to the economy it will show that we have a long road ahead. Here's to hoping investors can continue to focus on projections and the belief that this is not going to be a slow climb like the last recession.

I've read several people say they are very confident that based on how strong the economy was prior that this will not be a long recession. My concern with that from my personal perspective is that the business I am running right now can NOT just close for 2-4 weeks and then open back up like nothing happened. We have several customers that have expressed the same concerns, and those customers have also stated that they have several customers that are closed down permanently.

As a person with a great entrepreneurial spirit, this could provide a great opportunity for some. But we all should be aware that many industries have high capital costs, and those are not the kind of businesses you can decide to start from your garage. America needs small businesses to succeed in order for the economy to survive.
and I’m sure your small business, and I know many other small businesses, are dependent in no small part to the disposable income of the millions of people that are currently unemployed and and to those millions more that will be unemployed in the near future.
 

1LuvCane

Senior
Joined
Aug 9, 2018
Messages
4,194
Well said, Pop. An analogy to that is in the context of war. I come from a long line of military family. Just because a soldier is killed who happens to be someone close to us personally, while absolutely tragic, doesn't suddenly mean all affected families pull their support for the war.

Would I be sad if a loved one of mine passed due to coronavirus? Absolutely. Would that occurence therefore make me feel we need to lock down the country until a vaccine is out? No. And that's not because I enjoy watching elderly people die.
Because your not a coward. 80% of the run and hide crowd are yellow bellies ..
 

Fawk_U Haters

Junior
Joined
Jan 11, 2015
Messages
2,680
I hope you can see how this situation is far different than anything else this country has ever faced, including the banking meltdown.

And I don’t think anyone wants to go froM 0-100 as far as people returning to work. We need to take measures steps until a vaccine is developed, which in my opinion will be sooner than later.
We said the same thing back in 08. said the same thing in 87, said the same thing in 29. Rinse & repeat.

I don't totally disagree with your point, or anyone elses point about the economy, but I also think you need to rip the bandaid off and not gently pull it off . Putting people back at risk too soon really increases the chances that we do far worse economic damage to the country than what we are doing right now IMO. Again just my opinion.

Doom and gloom unemployment report, but yet market is up 1000 points.
 

JD08

Evidence based and data driven
Joined
Dec 19, 2014
Messages
7,107
You keep saying a small percentage. Do you really think the percentage would stay small if we just opened back up?

How about this....it was a small percentage of society (housing industry) that triggered the 08 collapse. was it not
That is correct, but the large percentage of people in the country had no involvement in the housing situation. Here you have millions of people staying home, working remote, getting laid off, closing their businesses solely to protect a comparative minority of the population. If we opened everything back up do you think more people would get sick? The entire point of flattening the curve is to spread the number of cases over a larger time so as not to overwhelm the healthcare system.

That is unprecedented.
 

Fawk_U Haters

Junior
Joined
Jan 11, 2015
Messages
2,680
That is correct, but the large percentage of people in the country had no involvement in the housing situation. Here you have millions of people staying home, working remote, getting laid off, closing their businesses solely to protect a comparative minority of the population. If we opened everything back up do you think more people would get sick? The entire point of flattening the curve is to spread the number of cases over a larger time so as not to overwhelm the healthcare system.

That is unprecedented.
What does this mean? Is this to mean that we're only protecting the elderly?
 
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