Corona-Recession-Becoming-Depression?-Bob Davis Podcast 941

Corona-Recession-Becoming-Depression?

Firstly chances of a happy ending to this pandemic are fading. Learn more in Corona-Recession-Becoming-Depression?-Bob Davis Podcast 941.

Going Against The Optimists

Secondly I know what I have to say goes against the optimists.

Pollyanna

However there’s optimism, then there’s Pollyanna.

Mental Health

Thirdly and most importantly are concerns and questions about our overall mental health.

Giving In To Reopening Pressure

Certainly it’s now clear some states gave in to political pressure to reopen.

Shutting Back Down

As a result we face the specter of shutting back down. One of the reasons I ask whether the Corona Recession Is Becoming A Depression?

Negative Economic Impacts

Above all the big concern is additional negative impacts on the US Economy.

Relief Running Out

Even more unemployment benefits and business relief packages are running out.

The Sheriff Is Here With Your Eviction Notice

Finally as the grace period on evictions ends people are forced to move.

“This Is All Going To End, You’ll See”

This was all supposed to be over by now, right?

Taxpayers Are Broke…So Is The Government

Meanwhile Congress and the White House are negotiating new relief that starts at one trillion dollars. Where is the production and the tax revenue to pay for it?

Enormous Debt To Stop The Panic

More debt, more money printing and more borrowing future growth to stop the bleeding now.

The Boom Was A Dream

In addition the bill for the central bank’s propping up the world economy for at least ten years is coming due. Our economic boom was a dream. Corona is the shock that ended it.

Good Morning Sunshine!

In short it is not a pretty picture.

Optimism Rests On Stock Market and Unemployment Numbers

Similarly you’re going to hear a lot about unemployment numbers, the stock market and so on. But these are not how we measure the economy.

Top Guys Hedging Their Bets

In conclusion top financial people are already hedging their bets. Warning of gathering storm clouds and trouble ahead.

Kanye West, Protests and Karen

The fact that these stories have not seeped into the mainstream is especially relevant. But when you have riots, Kanye West and Karen’s antics at the WalMart to share on social media, who cares about the economy?

Really Hope The Optimists Are Right

To sum up, batten down the hatches America, in about a month we all may wish the eternal optimists were right.

Corona-Recession-Becoming-Depression?

Podcast: Play in new window | Download (Duration: 36:57 — 84.6MB) | Embed

Subscribe: Apple Podcasts | RSS

Corona-Quarantine-Causes-Depression?-Bob Davis Podcast 913

Will-Corona-Quarantine-Cause-Depression?-Bob Davis Podcast 913

Will Corona Quarantine Cause A Depression?

These days the word depression has begun to appear in the news. Especially relevant? We’re talking about economic depression because business is pretty much shut down. Will the Corona Quarantine Cause Depression? Learn more in Will-Corona-Quarantine-Cause-Depression?-Bob Davis Podcast 913.

Uncharted Waters

We’re in uncharted waters due to the pandemic. No nation has ever brought its economy to full stop in such a short period of time.

Biggest Reduction In Economic Growth Ever

Even more major banks are predicting at least a 25 percent reduction in US output in the first quarter.

Bigger Than The Great Depression

This is unprecedented even in the darkest days of the Great Depression back in the 1930’s.

What’s Done Is Done

While we can ask whether this was a good idea, what’s done is done.

Can We Hit Pause? Or will The Corona Quarantine Cause Depression?

Seems like people think you can ‘hit pause’. Come back in thirty, sixty, ninety or one hundred twenty days. Hit ‘play’ and everything will be fine.

Real Life

But above all, this is real life. Even though it seems like we’re in a movie, we’re not.

We May Not Be Able To Easily Restart

Economies may not start easily once they are shut down. Moreover the central banks have been running very loose monetary policies for years. I’ve done a lot of podcasts about this. The central banks may not have much ammunition left. I’ll tell you what this means in Will-Corona-Quarantine-Cause-Depression?-Bob Davis Podcast 913.

What About Actions Government Has Taken?

As a result of ordered lock downs the government has taken action in the last week or so.

Interest Rates Slashed

The federal reserve slashed interest rates twice. The effective interest rate is now zero.

Another 2 Trillion of Relief On The Way

A 2 trillion dollar relief package is working its way through congress.

One Thousand Dollar Checks

We’re all supposed to get one thousand dollar a month checks as needed.

Why Are They Doing This?

Certainly there’s a reason for all of this. It has to do with what a depression is and what causes it. I’ll explain it in Will-Corona-Quarantine-Cause-Depression?-Bob Davis Podcast 913. Are we there yet? Time will tell.

Making It Better…Or Worse

Finally in the end economists and policy makers will sift through whatever wreckage is left and tell us whether the measures taken now made things better or worse.

Short Deep Recession or Depression

In conclusion whether we have a short and deep recession or a world wide economic disaster known as a depression depends on what our leaders do now.

Out of Our Hands

It sure seems to me like it’s out of our hands.

Sponsored by Ryan Plumbing and Heating of Saint Paul and Reliafund Payment Processors

Will-Corona-Quarantine-Cause-Depression?-Bob Davis Podcast 913

Podcast: Play in new window | Download (Duration: 30:31 — 69.8MB) | Embed

Subscribe: Apple Podcasts | RSS

Gen Z-Millennials-Brave New World-Bob Davis Podcast 798

Recent polls show solid support for socialism by Generation Z and Millennial Americans. Especially relevant is whether today’s ‘conservatives’ have the arguments against socialism. Find out in Gen Z-Millennials-Brave New World-Bob Davis Podcast 798. (Editor’s Note: The title of this podcast was Gen Z-Millennials-Prefer Socialism-Bob Davis Podcast 798 but had to be changed to meet FaceBook’s nonsensical, arbitrary and otherwise byzantine standards for commentary and journalism they think is a political ad. Speaking of a Brave New World!)

Strong Support For New Ideas

First of All, young Americans support for single payer health insurance. They like the idea of free college. Moreover there’s also support for federal job guarantees.

Voting Democrat

Also younger adults voted for democrats 2018 which helped hand President Trump a stinging defeat.

Shock

In contrast Older Americans are shocked. Why? Learn more in Gen Z-Millennials-Brave New World-Bob Davis Podcast 798.

Socialist Definitions

First of all, start with defining socialism.

Is There An Argument In The House?

Consequently, if you’re against socialism, what are the arguments in favor of capitalism?

Party Of Thinkers Has Become The Party of Red Faced Sputtering

Conservatives used to say they were the ‘thinkers’. Certainly democrats were ’emotional’ and had ‘no plan’. These days it seems like the shoe’s on the other foot.

A Plan Beats No Plan

Even more, democrats seem to have an awful lot of ideas backed up by academics. Policy details about new ideas like the Modern Monetary Theory and Universal Basic Income, or Open Borders, are part of their plan for the future. What’s the republican plan?

GOP Failing

Republicans have failed to repeal the Affordable Care Act. The GOP has increased spending and increased the deficit after complaining about deficits during the Obama years.

Republicans who were furious at President Obama’s “I have a pen and a phone” taunt applaud President Trump for using executive power to govern. And republicans are only too happy to support this kind of executive overreach.

Lack Of Principles

As a result one wonders whether republicans anywhere have arguments against socialism beyond pointing to Venezuela’s crisis and name calling. This will not do in 2020. You can’t grow a party without principles.

Laying Down And Letting Someone Else Make The Arguments

In conclusion I have often said there’s too much advocacy media. Republicans are only too willing to lay down while someone else grandstands or calls names, plays tricks and makes their arguments for them. Sadly, republicans are obsessed with ‘messaging’ while their children and grandchildren are socialists.

Sponsored by Reliafund Payment Processors and Water Butler Water Purification Systems

Gen Z-Millennials-Brave New World-Bob Davis Podcast 798

Podcast: Play in new window | Download (Duration: 34:39 — 79.3MB) | Embed

Subscribe: Apple Podcasts | RSS