Earlier quoted context omitted.
You are likely not the average American consumer.
From everything I've read, I'm amazed the average American has enough spare money to consume non-essentials.
A Long Time Until the Economic New Normal
101–110 of 322 posts
Re: A Long Time Until the Economic New Normal
#102Earlier quoted context omitted.
Pause? There is no way I'm taking my family to a crowded restaurant until either full scale frequent testing (with intra-region travel quarantine) proves it's gone or an effective vaccine is deployed at scale, or lastly if some medicine which means you get mild symptoms and no after-effects is developed.
Exactly, this a whole new ballgame in terms of what kind of businesses are going to be viable. The restaurant and bar industry might be toast and that's going to have big social and cultural impacts.
What is going to change is the world's attitude toward the Communist regime currently running China. I feel pretty confident in saying that that regime is slated for death, even as public officials and famous people act, in public, like they're willing to get back to normal.
This is where some of us have been for a long time. You cannot permit an intolerant, racist, minority persecuting, citizen murdering, dictatorial, totalitarian government armed to the teeth with the latest in biowarfare who is inclined to make aggressive noises towards everyone who is not like them and some who are (Taiwan) to exist, period.
I think COVID-19 finally brought that home to everyone who is not just outright anti-Western in their outlook.
People are going back to bars and restaurants and jobs, the stock market is going to go up, but the Communist regime in China is going down.
That's what the near future looks like.
Re: A Long Time Until the Economic New Normal
#103Earlier quoted context omitted.
A Global Pandemic is NOT A BLACK SWAN. As matter of FACT, it was predicted by Taleb and according to him it is a WHITE SWAN. The true problem here is the so called Risk "experts" do not understand Risk, and that is the core problem.
The CDC had a pandemic team, they were let go. California had a reserve of ventilators, which were liquidated due to “budget reasons”. The problem isn’t risk experts; the problem is that government representatives elected have no domain expertise nor leadership fortitude to put domain experts into the driver’s seat when the situation dictates. China, for all its failings, gets this right. Their leadership is more STE…
It's just not factually accurate. Hate who you want, but don't ascribe political malfaesance where there is none.
The politicization of this pandemic is a disease itself.
Culpability lies with China for covering it up and possibly with their practices at their biowarfare labs.
We should all eat fewer bats, too.
Re: A Long Time Until the Economic New Normal
#104Earlier quoted context omitted.
A Global Pandemic is NOT A BLACK SWAN. As matter of FACT, it was predicted by Taleb and according to him it is a WHITE SWAN. The true problem here is the so called Risk "experts" do not understand Risk, and that is the core problem.
Exactly. This is the furthest thing from a black swan. A global pandemic was always a matter of when, not if (still is). That, by definition, is not a black swan. Plus, we in EU/NA had plenty of notice since January to prepare, and we chose to bury our head in the sand instead. Prominent people call this a black swan just to deflect responsibility, and perhaps to get a bit of bailout money on the side.
Yes respirators and masks, I know, but the previous administration had gone through the same thing on a smaller scale and stockpiles were not replenished possibly because experts said it won't happen again for a while (I am giving the previous administration the benefit of the doubt here.. I don't know why they didn't replace those items).
The point here is, there's not that much that even had all information been available, and masks, and respirators, the world could have done. It's literally a force of nature that humans have a limited ability to deal with instantly.
I am not defending any political or public policy department past or present. I am just stating the obvious. Everything else is 20/20 hindsight aimed at the margins of effectiveness, so why go there ?
Re: A Long Time Until the Economic New Normal
#105Earlier quoted context omitted.
>> The CDC has a pandemic team, they were let go. >Can we please stop parroting that distortion of the facts? I'm not a fan of fact-checker battles but Snopes says "Claim: The Trump administration fired the U.S. pandemic response team in 2018 to cut costs. True." https://www.snopes.com/fact-check/trump-fire-pandemic-team/
briandear is right and toomuchtodo is wrong. (He's even wrong in the way he was wrong.) One would think reading only the Snopes article, or the Twitter thread (!) the piece is based on, that to save money (or because the Trump administration hates science, or something) the entire "US Pandemic Response Team" agency was eliminated and everyone in a large DC office building was fired. Actually reading the contemporary…
Further, the entire culture he created — don’t speak truth to power, or you will be fired - is also responsible for the late actions and poor preparedness of the administration.
Re: A Long Time Until the Economic New Normal
#106Earlier quoted context omitted.
The CDC had a pandemic team, they were let go. California had a reserve of ventilators, which were liquidated due to “budget reasons”. The problem isn’t risk experts; the problem is that government representatives elected have no domain expertise nor leadership fortitude to put domain experts into the driver’s seat when the situation dictates. China, for all its failings, gets this right. Their leadership is more STE…
This is not true: The CDC had a pandemic team, they were let go. It's just not factually accurate. Hate who you want, but don't ascribe political malfaesance where there is none. The politicization of this pandemic is a disease itself. Culpability lies with China for covering it up and possibly with their practices at their biowarfare labs. We should all eat fewer bats, too.
Sure, China did some bad things and shares some blame. That said, we did figure out China was lying in January, but did nothing nothing for the next six weeks (besides an ineffective travel "ban"). We have some culpability as well.
Re: A Long Time Until the Economic New Normal
#107Earlier quoted context omitted.
>> The CDC has a pandemic team, they were let go. >Can we please stop parroting that distortion of the facts? I'm not a fan of fact-checker battles but Snopes says "Claim: The Trump administration fired the U.S. pandemic response team in 2018 to cut costs. True." https://www.snopes.com/fact-check/trump-fire-pandemic-team/
briandear is right and toomuchtodo is wrong. (He's even wrong in the way he was wrong.) One would think reading only the Snopes article, or the Twitter thread (!) the piece is based on, that to save money (or because the Trump administration hates science, or something) the entire "US Pandemic Response Team" agency was eliminated and everyone in a large DC office building was fired. Actually reading the contemporary…
Re: A Long Time Until the Economic New Normal
#108Earlier quoted context omitted.
This is not true: The CDC had a pandemic team, they were let go. It's just not factually accurate. Hate who you want, but don't ascribe political malfaesance where there is none. The politicization of this pandemic is a disease itself. Culpability lies with China for covering it up and possibly with their practices at their biowarfare labs. We should all eat fewer bats, too.
> Culpability lies with China for covering it up Sure, China did some bad things and shares some blame. That said, we did figure out China was lying in January, but did nothing nothing for the next six weeks (besides an ineffective travel "ban"). We have some culpability as well.
It's a virus.
Re: A Long Time Until the Economic New Normal
#109Earlier quoted context omitted.
Exactly, this a whole new ballgame in terms of what kind of businesses are going to be viable. The restaurant and bar industry might be toast and that's going to have big social and cultural impacts.
Man I do not believe this. The restaurant and bar industry cater to the reckless youth segment. Seeing "nothing bad happened" to people you know who are less risk-averse than you is enough to coax people back into herding into bars and restaurants. We herded for a century before anything happened and those are clear memories everyone has, too. What is going to change is the world's attitude toward the Communist regim…
Not all bars and restaurants cater to "the reckless youth" segment, heck, not even most, because there simply isn't enough money in that segment to keep the industry afloat.
We'll see though, fun times ahead!
Re: A Long Time Until the Economic New Normal
#110Earlier quoted context omitted.
Exactly, this a whole new ballgame in terms of what kind of businesses are going to be viable. The restaurant and bar industry might be toast and that's going to have big social and cultural impacts.
Man I do not believe this. The restaurant and bar industry cater to the reckless youth segment. Seeing "nothing bad happened" to people you know who are less risk-averse than you is enough to coax people back into herding into bars and restaurants. We herded for a century before anything happened and those are clear memories everyone has, too. What is going to change is the world's attitude toward the Communist regim…
Care to put a date to your prediction?