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Why does our economy have to tank in this setting?
Posted on 3/29/20 at 12:21 pm
Posted on 3/29/20 at 12:21 pm
Can we learn from this and be proactive? Because, the reality is that something like this will happen again...it's not a matter of if...but when. So, can we enact legislation to protect the economy (our businesses and people) and activate it when a new nasty bug takes off from God knows where. Businesses and regular folks will need protections from creditors for the duration of the social isolation and pause...banks will need to hold cash reserves to protect themselves with federal insurance to protect them after a given time span...and furloughed employees will need temporary employment income (not as much as normal as the legislation needs to allow for pauses w/o penalties for mortgage and major utility bills). With this kind of proactive legislation, we can allow the president to pull the rip cord before the pandemic precautions go into effect and keep the economy from tanking and the market from overreacting. Just an idea to kick around. Sounds better than patchwork bailouts that costs trillions!
10
Posted on 3/29/20 at 12:22 pm to MichiganTiger
I think all major countries will seek to massively expand hospital capacity after this.
If the capacity is big enough, you don’t have to flatten the curve
If the capacity is big enough, you don’t have to flatten the curve
Posted on 3/29/20 at 12:36 pm to MichiganTiger
This economy is a house of cards, the initial bailout weakened it and now companies like Boeing can run on a shoestring because they know congress will bail them out.
Posted on 3/29/20 at 1:04 pm to MichiganTiger
quote:
So, can we enact legislation to protect the economy
NO!
This is the phrase that results in unintended consequences. The best thing for the economy is for it to be left alone.
Posted on 3/29/20 at 1:23 pm to MichiganTiger
quote:
Can we learn from this and be proactive? Because, the reality is that something like this will happen again...it's not a matter of if...but when. So, can we enact legislation to protect the economy (our businesses and people) and activate it when a new nasty bug takes off from God knows where. Businesses and regular folks will need protections from creditors for the duration of the social isolation and pause...banks will need to hold cash reserves to protect themselves with federal insurance to protect them after a given time span...and furloughed employees will need temporary employment income (not as much as normal as the legislation needs to allow for pauses w/o penalties for mortgage and major utility bills). With this kind of proactive legislation, we can allow the president to pull the rip cord before the pandemic precautions go into effect and keep the economy from tanking and the market from overreacting. Just an idea to kick around. Sounds better than patchwork bailouts that costs trillions!
I would say generally (because there is no details) what you are suggesting is mostly unconstitutional, either way you are asking for someone to pay your bills. The government as a generalization can't tell one person they are somehow waived money under contract to another - as a generalization.
What you are suggesting is more or less contrary to law, generally speaking. Someone is going to have to pay.
How about this, how about the government stop creating the problem to start with - brilliant! Many of these local governments could go belly up into bankruptcy as a result of their actions - taking suits are going to probably come left and right. States have not only ruined their tax base but potentially setting themselves up for "taking" suits.
Many of these States better start thinking of how they're going to get money as they've shut down the economy.
This post was edited on 3/29/20 at 1:28 pm
Posted on 3/29/20 at 1:28 pm to MichiganTiger
quote:
Businesses and regular folks will need protections from creditors for the duration of the social isolation
So no one pays anyone?
Posted on 3/29/20 at 1:31 pm to MichiganTiger
When this is all over I think we're going more regulations or a blanket ban of wet markets from the US & EU
Posted on 3/30/20 at 1:12 am to MichiganTiger
Thought crossed my mind today that I hope this type of thing isn't the new War on Terror. We can't be shutting countries down every couple of years. This had better be a once-in-a-lifetime type of event.
Also, I think you're going to see some politicians and figureheads try to use this as the tipping point in the push for socialized medicine in the U.S.
Also, I think you're going to see some politicians and figureheads try to use this as the tipping point in the push for socialized medicine in the U.S.
quote:
Can we learn from this and be proactive? Because, the reality is that something like this will happen again...it's not a matter of if...but when. So, can we enact legislation to protect the economy (our businesses and people) and activate it when a new nasty bug takes off from God knows where. Businesses and regular folks will need protections from creditors for the duration of the social isolation and pause...banks will need to hold cash reserves to protect themselves with federal insurance to protect them after a given time span...and furloughed employees will need temporary employment income (not as much as normal as the legislation needs to allow for pauses w/o penalties for mortgage and major utility bills). With this kind of proactive legislation, we can allow the president to pull the rip cord before the pandemic precautions go into effect and keep the economy from tanking and the market from overreacting. Just an idea to kick around. Sounds better than patchwork bailouts that costs trillions!
This post was edited on 3/30/20 at 1:13 am
Posted on 3/30/20 at 10:47 am to MichiganTiger
We don't do "pro-active" in this country...
What you are proposing makes some sense. A few years ago, Congress passed a package of "basic tax relief" that automatically takes affect when the president declares a major disaster.
What you are proposing makes some sense. A few years ago, Congress passed a package of "basic tax relief" that automatically takes affect when the president declares a major disaster.
Posted on 3/30/20 at 11:19 am to MichiganTiger
quote:
Can we learn from this and be proactive?
Probably not. Just look around at those demanding people hole up in their homes, business shutting down (even essential ones), etc. In the long arc, when the data is in and better scientists have had time to look at it along with the measures taken, it will probably show that the whole "flattening the curve" mantra has been wholly ineffective, the number and rate of infection changed very little compared to what it would have otherwise been. But that won't change the minds of politicians and doctors with side-salad MPH degrees who are ginning up their self-importance for all they are worth right now. None of this will come out until well after this has passed and normal life resumed, the MSM will astutely ignore anything that contradicts the current narrative and the unthinking masses won't care so nothing will really change. Warehouses stocked full of hastily produced ventilators will go to rot in the years before the next pandemic sends the world into bed-shitting paroxysm.
Posted on 3/30/20 at 11:41 am to MichiganTiger
The answer isn't increasing beds in case the answer is increasing the capacity to identify and react in a timely manner to threats to the Nation. In this case that would mean increased spending on research and monitoring of emerging health issues globally and locally. We have been incredibly fortunate if this is as bad as it gets....if this thing was somehow airborne and had a death rate like Ebola or AIDS we wouldn't be concerned about small business failings we would be concerned with industrialized nations ceasing to exist. This would mean of course an international effort which would mean some serious diplomatic effort to provide the kind of transparency required but that is what is needed.
We also need to be able to react to emerging crisis when they do blind side us....increased capacity for mobile hospitals like those going up now...timely information about contact and spread and reacting where needed etx. These are things that will take a monumental effort and will be something that has to be done nationally and not by the state...and are things we will spend a lot of time on when this thing is controlled. We have the ability and resources we now have evidence of the necessity.....it is what we do going forward that matters not what we did because we can't change that now.
We also need to be able to react to emerging crisis when they do blind side us....increased capacity for mobile hospitals like those going up now...timely information about contact and spread and reacting where needed etx. These are things that will take a monumental effort and will be something that has to be done nationally and not by the state...and are things we will spend a lot of time on when this thing is controlled. We have the ability and resources we now have evidence of the necessity.....it is what we do going forward that matters not what we did because we can't change that now.
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