Unemployment Rate Could Rival Great Depression’s

Hello floridafan,

floridafan said:
The U.S. economy is experiencing the “biggest negative shock” it has likely ever seen, with the country’s unemployment rate approaching the level last seen during the Great Depression, an economic adviser to President Donald Trump said Sunday.

“Make no mistake, it’s a really grave situation,” White House senior adviser Kevin Hassett said on ABC’s “This Week” when asked about the current economic outlook and Trump’s hope for a sharp, V-shaped recovery.

“We’re going to be looking at an unemployment rate that approaches rates that we saw during the Great Depression,” he said. “During the Great Recession, remember that was the financial crisis around 2008, that we lost 8.7 million jobs in the whole thing. Right now we’re losing that many jobs about every 10 days. So the lift, the economic lift for policymakers is an extraordinary one,” he said.
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Would you please post a link?

Everyone should always be questioning the source of news.

And besides, it is a site rule, for legal reasons:

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...

5. When Posting Copyrighted Material.. All material posted from copyrighted material MUST contain a link to the original work. Proper format is to post the first few paragraphs and then link to the article for the rest. Please don't repost entire articles here.
Title 17, Chapter 1, Section 107 http://www4.law.cornell.edu/uscode/17/107.html"
 
floridafan said:
The U.S. economy is experiencing the “biggest negative shock” it has likely ever seen, with the country’s unemployment rate approaching the level last seen during the Great Depression, an economic adviser to President Donald Trump said Sunday.

“Make no mistake, it’s a really grave situation,” White House senior adviser Kevin Hassett said on ABC’s “This Week” when asked about the current economic outlook and Trump’s hope for a sharp, V-shaped recovery.

“We’re going to be looking at an unemployment rate that approaches rates that we saw during the Great Depression,” he said. “During the Great Recession, remember that was the financial crisis around 2008, that we lost 8.7 million jobs in the whole thing. Right now we’re losing that many jobs about every 10 days. So the lift, the economic lift for policymakers is an extraordinary one,” he said.
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There is one big difference however. We don't have FDR making the Great Depression Great (lasting for years and years until after he and Truman left office). It took Eisenhower 2 years to repair the damage. When he did, the economy took off like a rocket.

Under Trump, the economy was already improving...a lot. It will again, and in the space of a few months.

This of course terrifies the Democrats.

Get the f'king government out of the way, and the economy takes off.
 
Into the Night said:
There is one big difference however. We don't have FDR making the Great Depression Great (lasting for years and years until after he and Truman left office). It took Eisenhower 2 years to repair the damage. When he did, the economy took off like a rocket.

Under Trump, the economy was already improving...a lot. It will again, and in the space of a few months.

This of course terrifies the Democrats.

Get the f'king government out of the way, and the economy takes off.
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By what metric do you believe the economy was 'improving a lot'. What is your objective measure of that improvement? Because none of the conventional measures indicated that the economy was doing anything other than extending the Obama recovery.
 
Into the Night said:
There is one big difference however. We don't have FDR making the Great Depression Great (lasting for years and years until after he and Truman left office). It took Eisenhower 2 years to repair the damage. When he did, the economy took off like a rocket.

Under Trump, the economy was already improving...a lot. It will again, and in the space of a few months.

This of course terrifies the Democrats.

Get the f'king government out of the way, and the economy takes off.
Click to expand...

:thumbsup:
 
Concart said:
By what metric do you believe the economy was 'improving a lot'. What is your objective measure of that improvement? Because none of the conventional measures indicated that the economy was doing anything other than extending the Obama recovery.
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Where do you get your information from? CNN? :palm:
 
Concart said:
So, trolling it is. I figured. You don't seem to have the chops for an economic discussion. Continue.
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Do you always cry like a little bitch while shitting your diapers? You're the moron who doesn't know how to read economic metrics. #fuckoff
 
Concart said:
By what metric do you believe the economy was 'improving a lot'. What is your objective measure of that improvement? Because none of the conventional measures indicated that the economy was doing anything other than extending the Obama recovery.
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And even then, it was flagging...we never got the 3% growth promised of the 2018 Russia Tax Cut, and the pace of job creation during Trump's first three years was lower than Obama's last three.

Also, since the start of the Russia Tax Cut on 1/2/18, the DJIA is 200 points below what it was the day that shitty tax cut started.

Trump has yet to top Obama's best quarterly and annual GDP growth rates.

But Trump has topped Obama's worst GDP contraction.
 
Truth Detector said:
Do you always cry like a little bitch while shitting your diapers? You're the moron who doesn't know how to read economic metrics. #fuckoff
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Actually, I know them inside and out. You appear to be afraid to discuss the Obama recovery. I don't blame you. I'd carve you up like a Thanksgiving Turkey.
 
LV426 said:
And even then, it was flagging...we never got the 3% growth promised of the 2018 Russia Tax Cut, and the pace of job creation during Trump's first three years was lower than Obama's last three.

Also, since the start of the Russia Tax Cut on 1/2/18, the DJIA is 200 points below what it was the day that shitty tax cut started.

Trump has yet to top Obama's best quarterly and annual GDP growth rates.

But Trump has topped Obama's worst GDP contraction.
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In general, Trumps hands off approach wasn't destroying the economy, but that tax cut was completely stupid. Everyone knows you don't cut taxes in the middle of a recovery. Well, everyone but Trump and the Sycophants.
 
Concart said:
Actually, I know them inside and out. You appear to be afraid to discuss the Obama recovery. I don't blame you. I'd carve you up like a Thanksgiving Turkey.
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Nah...what he'll do is start a brand new thread and ban you from it. Because he's a little bitch.
 
LV426 said:
Nah...what he'll do is start a brand new thread and ban you from it. Because he's a little bitch.
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I get a kick out of him. He's like the guy who declares he's King of the Mountain after everyone went home because he was such an obnoxious asshole.
 
Concart said:
In general, Trumps hands off approach wasn't destroying the economy, but that tax cut was completely stupid. Everyone knows you don't cut taxes in the middle of a recovery. Well, everyone but Trump and the Sycophants.
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I think he was destroying the economy, it was just at a slower pace. COVID sped the whole thing up and laid the vulnerabilities in the economy bare for all to see.

26M people lost their jobs and health care and Conservatives have no idea what to do about it other than dropping to their knees and begging a sky fairy for help.
 
Concart said:
I get a kick out of him. He's like the guy who declares he's King of the Mountain after everyone went home because he was such an obnoxious asshole.
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The first clue was calling himself "Truth Detector", like how Joe (not his real name) the Plumber (not his real job) postured back in 2008...the lying and exaggerating of personal given circumstances is called itjihad and Conservatives have no problem practicing it. Even a GOP State Official said anti-lockdown protesters should cosplay as medical professionals to lend themselves credibility they otherwise do not have.
 
Concart said:
Actually, I know them inside and out. You appear to be afraid to discuss the Obama recovery. I don't blame you. I'd carve you up like a Thanksgiving Turkey.
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I don't think you do; you sound like an uneducated clueless idiot and partisan hack.

Here's Obama's legacy in pictures to make it simpler for whiny, low IQ little tards like yourself:

mapsedit.001.jpeg


mapsedit.002.jpeg


updateobama.001.jpeg


BlogObama.002.jpeg


20170127_GDP_Obama2_0.jpg


total%20debt%20under%20obama%202016_0.jpg


586fae7ff10a9a24008b706f-1136-757.png


586f9cebf10a9a283f8b462d-1136-757.png


image
 
Concart said:
In general, Trumps hands off approach wasn't destroying the economy, but that tax cut was completely stupid. Everyone knows you don't cut taxes in the middle of a recovery. Well, everyone but Trump and the Sycophants.
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How was the tax cut stupid? How is letting people keep more of what they earn stupid? Be specific. How is giving the Government MORE of our hard earned wealth smart? Be specific.

#Moron
 
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