Gui Blackout

US economy -33%, worst drop in history

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Arthritis

Tbh it kind of scares me for what is going to be announced for Australia, seeing as though our market often mirrors what is happening in the US.

 

Australia had a 0.3% shrink in it's GDP during the March quarter, and while that was before the coronavirus took a toll on us, it was our first loss in growth in 30 years :rip:

They're expecting a revised 4.5% loss for the year. :dancehall:

 

 

Edited by Arthritis

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Tropez
34 minutes ago, stevyy said:

Germany has "only" shrunk by 10%... and due to the economy somewhat recovering, the German Industry Association expects a drop in GDP of 6,4% by year end.

Yes, so a decline. I don’t see a point of you telling me this. But I hope you have a great day. 

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Bloo

It's likely going to get worse. We have a 70% consumer-based economy and the $600 plus-up for unemployment insurance is ending this week, meaning that American families are going to struggle to pay rent, food, etc. There are projections suggesting 10s of millions will end up being evicted. Despite Q2's historic drop, it was ameliorated to some extent because the amplified unemployment benefits were able to provide some financial safety net for people to get by, even if marginally. However, even Wall Street financial heads are concerned about the unemployment benefits worsening moving forward because that means people have less money to spend on commodities to keep the economy afloat.

 

Q3 is going to be a disaster, especially given that school is likely going to worsen the spread of the virus and Republicans are convinced that the only problem is Americans are too lazy to go back to work and are trying to just gut any financial support to "reopen" the economy.

 

This is all ironic given the fact that people used to be mocked for warning that we were on the onset of a disastrous economic crash and here we are. Yes, all the countries around the world are taking a hit. But, as far as I know, the US is taking the largest hit to their economy and that's because our system made us uniquely vulnerable relative to other Western developed countries.

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Electric Youth

well 

 

giphy.webp

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confide in me

2021 cancelled :toofunny2:

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Jealous
1 hour ago, confide in me said:

2021 cancelled :toofunny2:

I still need China to be held accountable for this but they will come out unscathed

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Antonini

This would be an expected and accepted hit if the lockdowns were used for a concerted national effort to get the virus under control.  But the time was wasted by the Orange turds incompetence and now we’ll have to suffer through likely two more quarters of GDP devastation and joblessness. 
 

This country under republicans is so ****ing miserable I don’t understand why people keep voting for them. 💀💀💀

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Villanelle
5 hours ago, Jealous said:

I still need China to be held accountable for this but they will come out unscathed

Americans and their conviction China spread the virus on purpose :rofl:

 

 

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Cute

this is even worse news for canada 

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B'Day
On 7/31/2020 at 4:11 AM, Antonini said:

This would be an expected and accepted hit if the lockdowns were used for a concerted national effort to get the virus under control.  But the time was wasted by the Orange turds incompetence and now we’ll have to suffer through likely two more quarters of GDP devastation and joblessness. 
 

This country under republicans is so ****ing miserable I don’t understand why people keep voting for them. 💀💀💀

Same here for the UK and the conservatives. You’d almost think majority of the general public just like to suffer :rip: 

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