Analysis Coronavirus - The Impact II

[ZergMinion]

So we are in the era of New New Keynesian where the government is stimulating the economy but there is no economy to stimulate
Well not really, people need money for food and the essentials but I expect the Keynesian models will be unleashed when we open the economy up again?

Keynes pretty much said that government should spend like crazy during bad times, ie do the opposite of what the market is doing.

Raising taxes and saving money is what governments don't do during good times, which was the other side of the Keynes coin. People always seem to conveniently forget that part when deriding stimulus spending.

Personally I think it might be the moment to try MMT. Print all the money we need to spend through the crisis. Inflation seems an unlikely outcome when things are this bad. Won't happen in Australia though because our leaders lack imagination. Got a feeling some countries will try that though and I look forward to seeing the results.

 

[kane249]

Whats an MD?

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Managing Director

 

[Biggie]

How'd you go, mate? Odd to call everyone into the office when you're supposed to be keeping distance. Hope it's more of a team building thing than bad news

That's what I thought. ZOOM meeting postponed till afternoon. So great. Trying to work with knots in my stomach is awesome.

Whats an MD?

On SM-G925I using BigFooty.com mobile app

Managing Director

What kane249 said

 

[kane249]

United States COVID - Coronavirus Statistics - Worldometer

United States Coronavirus update with statistics and graphs: total and new cases, deaths per day, mortality and recovery rates, current active cases, recoveries, trends and timeline.

www.worldometers.info

The US racked up 120k new cases in 7 days (23rd March - 30th March)

 

[ZergMinion]

United States COVID - Coronavirus Statistics - Worldometer

United States Coronavirus update with statistics and graphs: total and new cases, deaths per day, mortality and recovery rates, current active cases, recoveries, trends and timeline.

www.worldometers.info

The US racked up 120k new cases in 7 days (23rd March - 30th March)

I think the US are going to be the test case for how bad this thing can get, though it'll wildly vary between states as it did during the Spanish Flu. Will be interesting to see if it does in fact peak in two weeks.

 

[kane249]

I think the US are going to be the test case for how bad this thing can get, though it'll wildly vary between states as it did during the Spanish Flu. Will be interesting to see if it does in fact peak in two weeks.

Majority of their states are fine, it's just New York/New Jersey which is the massive outlier at the moment

 

[Max zero]

Keynes pretty much said that government should spend like crazy during bad times, ie do the opposite of what the market is doing.

Raising taxes and saving money is what governments don't do during good times, which was the other side of the Keynes coin. People always seem to conveniently forget that part when deriding stimulus spending.

Personally I think it might be the moment to try MMT. Print all the money we need to spend through the crisis. Inflation seems an unlikely outcome when things are this bad. Won't happen in Australia though because our leaders lack imagination. Got a feeling some countries will try that though and I look forward to seeing the results.

Yep only 1 part of Keynesian economic is ever done which is why I have always been critical of it. Government spending now is fine but will we pay any of this 160 billion back? Nope.

Ah well what can you do?

 

[ZergMinion]

Majority of their states are fine, it's just New York/New Jersey which is the massive outlier at the moment

I don't know about fine, but New York is definitely pushing the envelope.

Latest stats by state are here:

Covid-19 map of the US: latest cases state by state

There have now been more than 68m confirmed cases of Covid-19 across the United States

www.theguardian.com

 

[Max zero]

I think the US are going to be the test case for how bad this thing can get, though it'll wildly vary between states as it did during the Spanish Flu. Will be interesting to see if it does in fact peak in two weeks.

Something like 51% of the USA's cases are in those 2 states.

 

[Max zero]

I don't know about fine, but New York is definitely pushing the envelope.

Latest stats by state are here:

Covid-19 map of the US: latest cases state by state

There have now been more than 68m confirmed cases of Covid-19 across the United States

www.theguardian.com

I love the China results on that graph its so obviously BS.

 

[ioppolo]

Something like 51% of the USA's cases are in those 2 states.

NYC and surrounds and New Jersey are so densely populated.

The Midwest states and Wyoming must be praising Jesus right now

 

[Max zero]

NYC and surrounds and New Jersey are so densely populated.

The Midwest states and Wyoming must be praising Jesus right now

I think its more high density living has its drawbacks.

The issue now is fleeing NY'ers spreading it.

Escape from New York 2020.

 

[ep2018]

Kids going to Florida on spring break, catching it, then going back to their home state will transmit it further also. What a clusterfcuk over there.

 

[RookiePick]

I think its more high density living has its drawbacks.

The issue now is fleeing NY'ers spreading it.

Escape from New York 2020.

Need moar eyepatch!

 

[Chris_6678]

There is the red tape of trying to lock down their cities with the Governors all ready cracking it.

Over two weeks in Australia we have day by day locked down portions of our country without to much fuss from everyone.

I mean yes we have some idiots complaining about being in a fully paid for 5 star hotel and we have had heaps of other idiots still flood the beachs.

 

[kane249]

Kids going to Florida on spring break, catching it, then going back to their home state will transmit it further also. What a clusterfcuk over there.

We had similar with back packers in Bondi not giving a *, there's now a large cluster in that area as a result

 

[kane249]

I think its more high density living has its drawbacks.

The issue now is fleeing NY'ers spreading it.

Escape from New York 2020.

Still 1000s of flights a day going across the US, they don't seem to be locking down their interstate borders just yet

 

[Dazzler9]

Freedumb!

 

[Biggie]

Got let go peeps.

 

[Seadog]

Majority of their states are fine, it's just New York/New Jersey which is the massive outlier at the moment

More than NY/Jersey are going to get pumped.
Florida is doubling every 3 days same as NY just started later.
Latest numbers

United States COVID - Coronavirus Statistics - Worldometer

United States Coronavirus update with statistics and graphs: total and new cases, deaths per day, mortality and recovery rates, current active cases, recoveries, trends and timeline.

www.worldometers.info

 

[Max zero]

Honestly you needed to basically lockdown NY weeks ago but you just can't do that in the US. NY would go nuts and probably ignore it anyway.

Would you be willing to put the National Guard to use locking the place down?

 

[Chris_6678]

More than NY/Jersey are going to get pumped.
Florida is doubling every 3 days same as NY just started later.
Latest numbers

United States COVID - Coronavirus Statistics - Worldometer

United States Coronavirus update with statistics and graphs: total and new cases, deaths per day, mortality and recovery rates, current active cases, recoveries, trends and timeline.

www.worldometers.info

AHHH been trying to find the breakdown per state cheers!

 

[Seadog]

Got let go peeps.

That's s**t news Biggie, hang in there mate. We'll get through this, probably a few less quid in our pockets but if we can keep our families safe and maintain a sense of humour one day the worm will turn.

 

[DanWCE]

Got let go peeps.

Sorry to hear mate. Hopefully things bounce back quickly here and you land on your feet.

 

[Max zero]

Got let go peeps.

Get your centrelink account setup with my.gov brah.

Some of my workmates have and with the new wage subsidy coming out will help keep you on your feet.