US Politics: Mad Max Beyond Corona Dome

[Jaxom 1974]

3 minutes ago, Fragile Bird said:

Hush, now! The Task Force press conference is on and Dear Leader is speaking.

First question after this rambling mess, "Where's Dr. Faulci?"

Second question to follow up,  "Why are you even up there?"

[Durckad]

1 hour ago, Jace, Basilissa said:

It's his own personal freedom to do so.

Piece of shit violated the NAP.  He's fair game for the hunters now.

[Fragile Bird]

Wait - Facebook had a stockpile of 700,000 N95 face masks?

[Fragile Bird]

Bad news folks - you can't shut down the US economy.

You all know about washing your hands and social distancing now, so the economy has to open.

[Mr. Chatywin et al.]

Trump (paraphrasing):

"Doctor, will the mean, evil media who hate me ever be allowed to sit in the room again?"

[DanteGabriel]

1 hour ago, Fragile Bird said:

Wait - Facebook had a stockpile of 700,000 N95 face masks?

It's probably Zuckerberg's personal post-apocalypse stockpile.

[williamjm]

1 hour ago, Fragile Bird said:

Wait - Facebook had a stockpile of 700,000 N95 face masks?

A friend of mine who used to work for another tech company in San Francisco said that he recently found he still had an unused N95 face mask his company had given him back during the California wildfires. I guess that might be a few Silicon Valley companies with their own stockpiles.

[Martell Spy]

Well, Washington state just got the stay at home order. It's a 2 week order.

[Castellan]

24 minutes ago, Triskele said:

Trump's whole "weeks not months" seems like such another example of extreme short-term thinking.  He is probably thinking that it sounds like a way to give people confidence today.     

It's a complete lack of thinking. I am just amazed at the way he bobs along just being Trump. Absorbing ideas enough to make them into a little story, slightly or completely changing things when he ad-libs. I suppose he consistently pleases the people who voted for him, too.

I think as long as he keeps calling it a Chinese virus he will get reelected.

[OldGimletEye]

5 hours ago, Ran said:

The Euro is about to blow up the EU. Any moment now, folks. Hope you're on the edge of your seats, holding your breath! Blink and you'll  miss it!

You know the international gold standard of the 1920s may not have massively malfunctioned if every nation played by the "rules of the game". But, in order to do that, a nation would have to take into account the needs of other countries. That is something likely not to happen. There is a decent theory out there that the Great Depression happened because the Bank of France started sterilizing gold inflows, raising the demand for gold while pushing down the demand for commodities.  From the French point of view, that might have been a sensible thing to do, since France had to worry about a potential military conflict with Germany and how to pay for supplies from overseas. But, it didn't likely represent the interest of people living in other countries. And this isn't a "lets blame the French" theory as the Federal Reserve's actions weren't great either.

The point is that in order to make something like the Euro work you need to have a high degree of political and fiscal integration. But, that is not likely to happen. People in Germany are not likely willing to fund the unemployment insurance for people living in Italy.

One of the reasons that the Euro left a bad taste in mouths of those of the Keynesian persuasion, or even the monetarist persuasion, was because back in 2008 the ECB tightened monetary policy.  And then after 2008, was too tight with monetary policy. And then it began to preach "expansionary austerity", A big reason for this was because of the policy presences of Germany and other Northern European countries, even if their policy preferences were not in the interest of other countries.

One of the reasons the US recovered more quickly from the GFC than Europe was because the FED had more expansionary policy. In fact, had the ECB performed better, Europe might be in better shape to face the Coronavirus than it is now.  The Euro might have not blown up Europe, but it most likely acted as drag on European economic growth through the actions of the ECB.

In 2008, the Spanish price level was much higher than Germany. If Spain had flexible exchange rates, than those exchange rates would have adjusted downward eliminating narrowing the trade gap between Spain and Germany and improving its aggregate demand. Instead, Spain was forced into a rather prolonged and painful deflation.

Right now the ECB might be acting reasonably. Politically it would seem hard for them do otherwise with the Coronavirus threat. Even Germany won't complain too much. The question is how will it act once the crises passes? Will it act aggressively as it needs to or will it bow to pressure from countries like Germany to tighten? I'm not real confident that the ECB can conduct policy that makes sense for every nation within the Eurozone or make policy in accordance with every countries preferences. At least not in the long run.

 

[Fury Resurrected]

The Dems have unleashed their plan

 

I really, really like it.

[DMC]

24 minutes ago, Fury Resurrected said:

The Dems have unleashed their plan

 

I really, really like it.

Yeah, that's more like it.

[Mr. Chatywin et al.]

Hey, if you're going to swing for the fences, take a pornographic hack at it. That package seems easier to sell than "let the creepy rich guys hide the money and make magic happen."

[DMC]

28 minutes ago, Triskele said:

Having trouble accessing the full text and curious about how the $10k in student loan payments is waived.  Could mean a few different things.

On a quick search it appears the relevant pages of the bill are 842-843:

Quote

‘‘SEC. 493F. MINIMUM RELIEF FOR STUDENT LOAN BORROWERS AS A RESULT OF A NATIONAL EMERGENCY. ‘‘(a) MINIMUM STUDENT LOAN RELIEF AS A RESULT OF A NATIONAL EMERGENCY.—Not later than 90 days after the conclusion of a national emergency (as defined in section 493E), the Secretary shall, for each borrower of a loan made under part B, D, or E, reduce the total 

[page 843] outstanding balance due on all such loans of the borrower, by an amount equal to the lesser of— ‘(1) the difference between $10,000 and the total amount of payments made by the Secretary under section 493E(b) on such loans of the borrower during the period of such national emergency; or ‘‘(2) the total amount of outstanding principal and interest due on such loans of the borrower, as of the date of the calculation under this subsection. ‘‘

 

[Centrist Simon Steele]

7 hours ago, Rippounet said:

So here's some info on "the pork" in the Pelosi bill from the most right-wing source you can think of. 

N°3 will truly shock you. Prepare to be shocked ! Those damned Democrats will ruin America ! 

https://www.breitbart.com/politics/2020/03/23/nancy-pelosi-proposes-1120-page-coronavirus-bill-stuffed-with-pork/?utm_medium=social&utm_source=facebook&fbclid=IwAR2KlKQYrnLyaNo-LWMQOMkeEp2L_DBreLYhr95drK3_dXx0dJScS1JjEHc&fbclid=IwAR18gx0y6DXEuv3qFlH-TOXSEDA4_VXGv_CFrYmOFEW8zRZwSYLUwXin1VM

 

I mean, it's all great stuff, but I just don't see most of that passing--though it should. At some point the Dems begin to look like they're holding up relief--minimal relief though it may be.

[Jace, Extat]

26 minutes ago, Simon Steele said:

I mean, it's all great stuff, but I just don't see most of that passing--though it should. At some point the Dems begin to look like they're holding up relief--minimal relief though it may be.

Now you're the fucking pragmatist?

Spare me.

[DireWolfSpirit]

Wisconsin's Govenor Evers has ordered all non essential businesses shutdown, looks like a pretty similar measure to New York state's.

There will still be essential services for the obvious areas like the infrastructure grid, healthcare, utilities, banking and other necessary functions that need to keep running for people's basic needs like food, medicine, lights, electricity, law enforcement, etc.

[IheartIheartTesla]

Michigan has a "stay home, stay safe" in effect, so I am hunkering down for the long haul. Although our glorious leader probably wants us back at work by early April.

Speaking of Trump, why is his approval rating so high? He's done nothing but botch this response from beginning to end. No joke, it really makes me despair for the US,

[Fragile Bird]

6 minutes ago, IheartIheartTesla said:

Michigan has a "stay home, stay safe" in effect, so I am hunkering down for the long haul. Although our glorious leader probably wants us back at work by early April.

Speaking of Trump, why is his approval rating so high? He's done nothing but botch this response from beginning to end. No joke, it really makes me despair for the US,

I was just reading comments to NYT stories, and the Trump supporters are out there in full force saying Trump is doing a wonderful job.

I have talked about the fact I am a member of Royal Caribbean’s Facebook page. Someone a few days ago made a comment about Trump and coronavirus and Trump supporters immediately attacked the poster. I made a comment that it was weird to see how much support there was for someone who said there were only 15 cases in the US and one day it would just disappear. I was called every kind of liar, demands were made that I immediately provide proof(!) and when I didn’t do so in a nano-second (I made comments like, are you serious? instead) I was told I was full of shit. These people do not actually know the things Trump says because Fox does not report the stupid stuff and they only watch Fox.

[Mr. Chatywin et al.]

4 hours ago, DireWolfSpirit said:

Wisconsin's Govenor Evers has ordered all non essential businesses shutdown, looks like a pretty similar measure to New York state's.

There will still be essential services for the obvious areas like the infrastructure grid, healthcare, utilities, banking and other necessary functions that need to keep running for people's basic needs like food, medicine, lights, electricity, law enforcement, etc.

In line with what @Fury Resurrected said yesterday, it's shocking MN is behind you guys given what's going on here. There needs to be a shut down, and fuck the assholes that are calling their work essential because they just want to stay open.