Is everyone in a fullblown panic because of coronavirus?

Louie Gohmert single-handedly holds up House coronavirus bill before it can be sent to Senate


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Rep. Louie Gohmert (R-TX) on Monday reportedly blocked “technical corrections” to a House coronavirus relief bill that was scheduled to be sent to the Senate.

Gohmert told Boomberg’s Laura Litvan that he didn’t know if his concerns could be resolved in time to vote on the technical corrections on Monday.

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CaptainObvious said:
My point is not that many people are going to die and this will be no better two weeks from now than it is today. My final point I'll make is that if a mere 3 weeks ago I woulf have told you that government would be mandating every school and business to shutdown all of you would have called me unhinged. Today it's happening and everyone just rolls over. That won't last long as the money runs dry. Well now I'm telling you that a major revolt is coming and its coming when they extend this shutdown, which is inevitable.
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Given what China and Italy did I would not have thought it unhinged, just not reasonable at the time.

It makes sense given that one of the weeks covered is spring break and many kids can do online learning or simply make it up when they come back.

The leagues shutting down and no March Madness would have been a reach for me as I figured they would play with no fans ( TV is fine). But when 2-3 got it I can understand.
 
El OchoCinco said:
Given what China and Italy did I would not have thought it unhinged, just not reasonable at the time.

It makes sense given that one of the weeks covered is spring break and many kids can do online learning or simply make it up when they come back.

The leagues shutting down and no March Madness would have been a reach for me as I figured they would play with no fans ( TV is fine). But when 2-3 got it I can understand.
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Just as I wrote yesterday about the rate cut, we're blowing the wad to early on this. Where do we go next if, and in my opinion when none of these current actions make a substantive dent? Draconian measures to follow I'm afraid. I hope you more optimistic guys and gals are right, I really do. We'll see soon enough, that's for damn sure
 
CaptainObvious said:
Just as I wrote yesterday about the rate cut, we're blowing the wad to early on this. Where do we go next if, and in my opinion when none of these current actions make a substantive dent? Draconian measures to follow I'm afraid. I hope you more optimistic guys and gals are right, I really do. We'll see soon enough, that's for damn sure
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Next step is NIRP, and the Fed buying ETFs like the BoJ.
 
CaptainObvious said:
Just as I wrote yesterday about the rate cut, we're blowing the wad to early on this. Where do we go next if, and in my opinion when none of these current actions make a substantive dent? Draconian measures to follow I'm afraid. I hope you more optimistic guys and gals are right, I really do. We'll see soon enough, that's for damn sure
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yeah the rate cut was meaningless.....spending in areas to be affected would have been better than simply lowering rates from .5% to 0%
 
To intervene or not?

as analogy...

We should not have bailed out the banks we should have told the FED spend trillions on the people and not save the banks.
The skilled people would have quickly reformed investment banks and other financial institutions and the system would be stronger and safer.
instead we went the zombie economy bank / economy route and as predicted we have been be sick for a long time. (had we done what we said the FED would not be at zero and out of its most effective devices right now.)

So while I typically believe in natural destruction and rebuilding being the best thing for economies...

There is a moral component here in this situation...

As a society we do have a moral obligation to our citizens. This has become more obvious to me as we see the percentage of deaths in the 70 and 80 year old categories.

Hence we are left with the almost impossible task of balancing the risk to the economy vs the risk to old people. As this drags on we will ruin lives and maybe kill people vs the moral compulsion of doing the right thing by old people in the short run.

I have no good answer at the moment... because I not only am unsure how to balance the choices.. I don't even have clarity as to how badly the economy can lock up.


All I know is that when this is over... each country needs to work towards being self sufficient in the critical items we all need.

This outsourcing key parts of our economic security is obviously a very short sited strategy and I would say it is immoral itself. ... pushed by elites who knew better.
 
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Outsourcing is why you can buy phones, computers, TVs and other items you all love so much at reasonable prices.

Outsourcing is true capitalism and if you are against outsourcing but demand free markets without government intervention then you are being hypocritical. Outsourcing is to countries where the government is fully supporting the growth of industries and their local economies.

Outsourcing is not immoral, it is what you get from a consumer economy.
 
El OchoCinco said:
Outsourcing is why you can buy phones, computers, TVs and other items you all love so much at reasonable prices.

Outsourcing is true capitalism and if you are against outsourcing but demand free markets without government intervention then you are being hypocritical. Outsourcing is to countries where the government is fully supporting the growth of industries and their local economies.

Outsourcing is not immoral, it is what you get from a consumer economy.
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Outsourcing of most things I would agree is great for free market capitalism. Outsourcing damn near all of our pharmaceuticals is idiotic. Some things need to stay right here at home.
 
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