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The US will need to spend trillions more as economy takes until 2022 to fully recover
Posted on 4/28/20 at 3:06 pm
Posted on 4/28/20 at 3:06 pm
quote:
The economy could take one to two years to rebound to full strength and the Federal Reserve and Congress, having already committed historic sums to fight the coronavirus pandemic, will have to commit trillions more, according to respondents to the CNBC Fed Survey.
With the Federal Reserve’s balance sheet already at an unprecedented $6.45 trillion, the 36 respondents see it rising on average to $9.8 trillion. The additional trillions will be added by the end of the current quarter, the respondents expect. Congress, having already committed about $2.5 trillion, is seen putting in an additional $2 trillion.
Despite the massive relief, respondents still see the unemployment rate rising to 19%, hitting that level in August. It’s expected to decline only gradually, to 11% by December and to 7% by the end of 2021. That would leave it at about double the rate before the crisis.
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16
Posted on 4/28/20 at 3:07 pm to RLDSC FAN
so how stable is the value of the dollar anyway? If we keep printing/borrowing money, what is the tipping point?
Posted on 4/28/20 at 3:09 pm to Ross
quote:
so how stable is the value of the dollar anyway?
Every other currency is fricked by the virus as well
So the dollar remains king
Posted on 4/28/20 at 3:30 pm to RLDSC FAN
This is on every person from the top down who wanted to shut everything down.
What happened to that rebound economy?
That sharp “V” recovery?
What happened to that rebound economy?
That sharp “V” recovery?
Posted on 4/28/20 at 3:33 pm to RLDSC FAN
quote:
the 36 respondents see it rising on average to $9.8 trillion. The additional trillions will be added by the end of the current quarter,
We are so extraordinarily fricked.
I still cant believe we skidbraked the roaring economy over this shite. The masses just wont understand why we are still on the skids after we "open up" either. This stupid fricking shite sucks
Posted on 4/28/20 at 3:35 pm to RLDSC FAN
Socialists wet dream. Then theyll blame "capitalism."
Posted on 4/28/20 at 3:36 pm to DownshiftAndFloorIt
quote:This truly showed how stupid the vast majority of the US electorate is.
I still cant believe we skidbraked the roaring economy over this shite.
$2 trillion in debt, and that is just the start.
This shite is terrible and was completely avoidable.
Posted on 4/28/20 at 3:44 pm to RLDSC FAN
I think it will ramp up pretty quick.
People know that they should spend money for the benefit of everyone. And I think they will. Plus old habits die hard.
Bidnesses will be very busy as soon as the floodgates are open.
Christmas will be yuuuge this year.
People know that they should spend money for the benefit of everyone. And I think they will. Plus old habits die hard.
Bidnesses will be very busy as soon as the floodgates are open.
Christmas will be yuuuge this year.
This post was edited on 4/28/20 at 3:45 pm
Posted on 4/28/20 at 3:44 pm to RLDSC FAN
They have just been printing money for a while now so it doesn’t really matter
Posted on 4/28/20 at 3:46 pm to RLDSC FAN
Stopped at ‘CNBC’
(I know, but it’s funny)
(I know, but it’s funny)
This post was edited on 4/28/20 at 3:47 pm
Posted on 4/28/20 at 3:49 pm to Fat and Happy
quote:
They have just been printing money for a while now so it doesn’t really matter
Complete lack of understanding.
Eventually it hits an unsustainable point.
Posted on 4/28/20 at 4:02 pm to Scruffy
Self inflicted
Posted on 4/28/20 at 4:02 pm to Langland
quote:
think it will ramp up pretty quick.
I think it's going to continue to slide for a while. The first hits are just now making their way through the economy
Posted on 4/28/20 at 4:04 pm to RogerTheShrubber
Actually it's the opposite, unless you're calling Trump a socialist.
This post was edited on 4/28/20 at 4:05 pm
Posted on 4/28/20 at 4:04 pm to RLDSC FAN
quote:
The US will need to spend trillions more as economy takes until 2022 to fully recover
Someone's gonna have to raise taxes. We will find out who they are in November of this year.
Posted on 4/28/20 at 4:45 pm to aTmTexas Dillo
quote:
Someone's gonna have to raise taxes.
Or just cut waste...
Posted on 4/28/20 at 5:27 pm to RogerTheShrubber
quote:
Socialists wet dream. Then theyll blame "capitalism."
Capitalism barely exists in this country. What we have is at best described as crony capitalism and more likely corporatism.
Posted on 4/28/20 at 9:08 pm to RLDSC FAN
Since their inception, the reason for an income tax, they have continually robbed our country and many others. I really would like to know what their backing is to print all this money.
JFK wanted the gold standard back, didn't fare too well for him, or us.
Andrew Jackson was the last President with the balls to shut them down.
LINK
Woodrow Wilson brought it back into existence. LINK
JFK wanted the gold standard back, didn't fare too well for him, or us.
Andrew Jackson was the last President with the balls to shut them down.
LINK
Woodrow Wilson brought it back into existence. LINK
Posted on 4/28/20 at 9:19 pm to RLDSC FAN
Funny how those trillions of dollars that weren’t there just keep popping into existence. That is a very very large number.
Posted on 4/28/20 at 9:20 pm to RLDSC FAN
Trump is the one I trust most to get us out of the Covid economy funk. It damn sure isn't Biden nor any other Democrat.
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