gotgame75 said:
PlayerRep said:
gotgame75 said:
This isn’t a debate, it’s a fool’s bargain. Economies can bounce back, but lives cannot be recovered. It’s tough medicine to be sure, but we as a nation have to get this right the first time or the long term economic toll will be catastrophic. We are in the position we are currently because we were not adequately prepared. Do we really want to tempt fate yet again by ignoring the warning of those that spend their lives studying these things?
Why are Americans so arrogant that we believe we don’t have to hold ourselves to the same standards as the rest of the world? The virus will prey upon this laissez faire attitude as it’s our greatest vulnerability. We as a nation have no tolerance for being inconvenienced.
I encourage anyone who is interested in this “debate” to watch Anderson Cooper’s interview with Bill Gates last night. He offers an encouraging, but sobering take on the current state of America.
My view. Even now, the economy is not going to bounce back. The longer this goes, the more economic damage that will done, and the harder and longer to recover. This is already much worse than the 2008
recession, according to financial experts. The US didn't exactly bounce back from that. How about the Depression? Did the world bounce back from that? I hope it doesn't get to a depression.
Bill Gates is a smart guy and built a great company but alot of people think he's not right on this. Including some friends of mine who know him well and used to work with him.
So now the US didn’t “bounce back” from the 2008 recession? Are you joking Jack or just being intentionally daft? The past 10 years has been one of, if not the greatest period of economic prosperity in our nation’s history! And the reason the US was able to prosper was due to aggressive action on the part of the federal government and the Fed.
And by the way, nice flex on claiming some 3rd degree relationship with Bill Gates. Does your back hurt from dropping all these names? Why do you habitually find a way to brag about yourself when it literally has ZERO to do with the topic at hand? Typical pompous PR.
Andreas, no, the US didn't "bounce back". Under Obama, it was one of the slowest recoveries ever. Significant recovery and growth was not reached for at least 6 or 8 years.
On rate of recovery, see below quotes and linked article, which is from Aug. 2016.
This is a liberal policy group.
"Since the recovery’s trough in June 2009, employment took longer (51 months) to reach its pre-recession peak than in any other of the previous three recoveries. Much of this too-slow march back to the pre-recession employment peak can be attributed to the length and severity of the Great Recession itself—the economy had a much larger hole to dig out of. But the pace of job growth in the recovery phase following the recession was also slow relative to previous recoveries—slower than any on record except the recovery in the early 2000s."
The depth of the Great Recession and the slow pace of recovery
The recession that began in December 2007 and ended in June 2009 was the longest in postwar history.
The cause of slow growth following the Great Recession
Conclusion
The recovery since 2009 has been historically slow, and the disappointing pace can be explained entirely by the fiscal austerity imposed by Republicans in Congress.
Of course, other national policymakers are not completely blameless.
https://www.epi.org/publication/why-is-recovery-taking-so-long-and-who-is-to-blame/
This is from Forbes article, in 2016:
"The Obama recovery of the last seven years remains the worst in postwar American history. Average gross domestic product (GDP) growth since the bottom of the recession in 2009 was barely above 2.1% per year."
https://www.forbes.com/sites/rexsinquefield/2016/11/29/obama-and-the-dems-dismal-recovery/#295b42b6cb0e
[This is your idea of "bounce back"?]
I'm not bragging about a Gates relationship, but I know or have met a number of people who worked in the executive sweet with him. I've been to Steve Ballmer's house too. I've met Ballmer's wife several other times, including at my friend's house. I've met Nathan Myhrvold. His son was my good friend's partner. The Myhrvold's were senior execs at MSFT. I'm bragging about the Ballers and Myhrvolds. So there you have it.