Our Economy Is Roaring Back Quickly Against All Odds

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  1. Sharlee01 profile image82
    Sharlee01posted 14 months ago

    https://usercontent1.hubstatic.com/15049174.jpg
    America’s labor market defied forecasts for a Depression-style surge in unemployment, signaling the economy is picking up faster than anticipated from the coronavirus-inflicted recession amid reopenings and government stimulus. Instead of the predicted 8 million more jobs that were expected to be lost in May US economy added 2.5 million jobs. Hopefully, this wonderful progress in our economy will continue.

    This morning before the jobs report was announced we had many touts claiming it would a report that would break all records since the
    Great depression. -The jobless rate fell to 13.3% from 14.7%.

    I consider this great news, and hopefully, our economy will return to what it was before the Country was hit with a pandemic. These numbers defied what was predicted by pretty much every economist that chose to give an opinion.

    Any thoughts on this month's positive economic numbers?

    https://www.nbc12.com/2020/06/05/anothe … bs-report/

    https://www.npr.org/sections/coronaviru … mbers-loom

    1. GA Anderson profile image92
      GA Andersonposted 14 months agoin reply to this

      With 40 million(+/-)  jobs lost due to the shutdown, I wonder why this is viewed as such a great report considering it simply reflects the economy is reopening

      I think the report that can be called great is the one that will show increased jobs after those first 40 million are back to work.

      I don't mean to demean this report, it is great news that many of our jobs are going back to work, I am just curious why everyone is so surprised.

      Yes, I know, the reason was the Holy Grail of predictive modeling)

      GA

      1. Sharlee01 profile image82
        Sharlee01posted 14 months agoin reply to this

        I was very surprised.  I am very interested in the economy, and I have been following the economist's reports closely in the past weeks. They had dire numbers projected for May. Many projected Mays number would be some of the worst due to most states dragging their feet to reopen. Many economists actually projecting we would lose another 7 to 8 million jobs in May.

        Trump himself gave a poor projection for the May job report. I was apt to believe the economist due to such a slow reopening of the country.

        Would I predict next month's number to be as good, not sure... But I can hope. I hope our economy comes roaring back.  You sound like you're of the same mindset as my husband in regard to not being surprised. He felt the number for May would be good. How he puts it ---" it's all or most all still there, just waiting to bust out.

        Why did I post it? These reports as well as the market today put a smile on my face. I just thought I would share a bit of positive news. And yes I realize many here will turn this into a Trump/Obama thing. I really don't care. I like good news and can ignore the heat.

    2. Miebakagh57 profile image52
      Miebakagh57posted 14 months agoin reply to this

      The US economy was reputed to be the strongest in the world, pre-pandemic. But it shartered when the panfmic scourge hit it with surprises. Obviously, its foundation is faulty and defective. Now the post pandemic. US is so bad that it can not be used as a comparative index. Not to think of job prospects like a country Nigeria, where the loss of a job is very neglible.

      1. Sharlee01 profile image82
        Sharlee01posted 14 months agoin reply to this

        It most likely will take time to repair the post-pandemic economy. Although with all the Government stimulus support, and hopefully many people will return to the jobs they had before the crisis. There naturally will be small businesses that could not weather such a storm. It will also depend if Trump is reelected. At this point, the market looks confident he will. That could turn very quickly if they lost that confidence. Many would not be willing to lose the funds they made under the Trump presidency and would pull money out of the market, and sit it out to see how a Biden economy would play out.

        1. Miebakagh57 profile image52
          Miebakagh57posted 14 months agoin reply to this

          I agreed. The economy will bounce back slowly-slow and steady. To win. It will be a win, win for the economy. Not just the US alone. It is not my prediction. But an opinion based on reality. President Trump will be re-elect because he has a strong base.

  2. Awolesi Abiodun Adedola profile image78
    Awolesi Abiodun Adedolaposted 14 months ago

    At times predictions are overridden by life outcomes. Online retail stores like Amazon need more hands you know.

    1. Sharlee01 profile image82
      Sharlee01posted 14 months agoin reply to this

      Found a chart on the sectors Mays job came from.

      https://www.cnbc.com/2019/06/07/heres-w … chart.html

      It will be very interesting to see the June numbers.

  3. Virginia Allain profile image88
    Virginia Allainposted 14 months ago

    This prediction defies all logic.
    People are fearful of spending beyond buying necessities so the auto and the housing markets are going to be depressed for some time. This will take longer than the 2008 crash to recover. Some businesses are already declaring bankruptcy and closing their doors forever.
    Only a tiny portion of workers are going back to work. Many businesses have declared they are streamlining which I interpret to mean cutting their operations and employees back to weather the recession. Because life will be disrupted for one or two years by the pandemic, people won't be traveling very much so that whole industry (cruises, airlines, hotels, tourism) are down the drain.
    My prediction is the economy won't be roaring back and we will struggle with recession or even a depression for the next 10 years. The "glorious" economy was all a sham and apparently many businesses were not actually successful enough to withstand a time of setback.

    1. Sharlee01 profile image82
      Sharlee01posted 14 months agoin reply to this

      Hi Virginia, It will be very interesting to watch this economy over the next few months. With the damage that the pandemic has caused, the upcoming election. It should be very interesting, and unpredictable.

      A few weeks ago I would have agreed that the economy will not come roaring back, and I certainly can appreciate your logic. But with May's numbers, and the markets spike on Friday. it gives me a bit of hope.

      Hopefully, you realized I used the word roaring to garb one's attention. I wanted to offer a bit of good news by providing May's stats. I attempted not to show a true opinion or prediction on its recovery.

      At any rate, I appreciate your comment. The economy is a subject that I hold a great interest in.

      1. Miebakagh57 profile image52
        Miebakagh57posted 14 months agoin reply to this

        So do I. So are many. Every one is interested, especialy business peoples. The economy is the life blood of a nation.

        1. profile image0
          promisemposted 14 months agoin reply to this
          1. Sychophantastic profile image91
            Sychophantasticposted 13 months agoin reply to this

            Promisem, I don't like your link.

            As an old, dopey broad who believes every word the President says, I'm thrilled about the economy roaring back under our genius President. I'm particularly thrilled about the status of my retirement accounts. It's amazing what President Trump is doing for this economy. I'm so happy that my lack of intelligence keeps me from digging too deep into complex issues. It's so much easier for me to regurgitate what I hear the President say on television. Can you imagine how we'd be doing under Obama. He'd have us in quarantine until 2022.

            1. Sharlee01 profile image82
              Sharlee01posted 13 months agoin reply to this

              Perhaps as you have started discussing the economy is something you should avoid. You do better at playing sarcastic games. Get some help.

          2. Miebakagh57 profile image52
            Miebakagh57posted 13 months agoin reply to this

            Perhaps "fake news?" sure, we can't rely on the reports. The corona virus pandemic is a natural occurance. What is predicted based on few statistics are not reliant. Someone has said there is nothing like the pandemic for the past 100 years. He mean notgng like it has occured. Had that be the case, natural predictions would be very raliable on a comparative basis. Nonetheless, some predictions are rules of the thumb. Others are a sham. The only prediction that can be rely on is that which flows naturaly. The economy will surely bounce back. It is a marvellous thing to watch it grow. Here is history.

  4. profile image0
    PrettyPantherposted 14 months ago

    While I think "roaring back" is a huge overstatement, I am glad jobs are returning, as would be expected given that businesses are reopening across the country.

    1. Sharlee01 profile image82
      Sharlee01posted 14 months agoin reply to this

      I just used roaring back as an eye-catcher.To grab one's attention

      1. Miebakagh57 profile image52
        Miebakagh57posted 13 months agoin reply to this

        Okay, what's next?

        1. Sharlee01 profile image82
          Sharlee01posted 13 months agoin reply to this

          Well... If I were to predict and consider a few variables I would say the job numbers will be flat for the month of June. One such variable is that a few Democratic states are dragging their feet on opening up for business, and the businesses they have opened are badly harnessed by Governor's harsh rules.  In my view, another cheap Democratic ploy that hurts the economy and our citizens. But it's all hands on deck to hope this ploy bodes poorly for Trump.

          Not sure why the Dems can't see this kind of ploy is very hurtful to the country and just shows their lack of caring for the country. But they have always been dirty when it comes to politics.

          1. Miebakagh57 profile image52
            Miebakagh57posted 13 months agoin reply to this

            Shar, this is understandable. In politics, people care much for their own than the populace. The economy is a social issue. Politics will take precedent. And the social goes to the background. Can you see the economy bouncing well here? But a little. It would not be so in all the states.

          2. Sychophantastic profile image91
            Sychophantasticposted 13 months agoin reply to this

            According to the NY Post, Roger Stone says that Bill Gates released the Coronavirus so he could microchip everyone.

            Undoubtedly, Coronavirus is some kind of ploy by Democrats to hurt Trump. The best thing we can do as Republicans is ignore all the warnings and go back to work and go spend our money at restaurants and everywhere else to help the greatest President of all-time to get re-elected.

            1. Sharlee01 profile image82
              Sharlee01posted 13 months agoin reply to this

              I can only imagine if Trump wins in 2020, I would think it will take you all the way over the edge. LOL

          3. Miebakagh57 profile image52
            Miebakagh57posted 13 months agoin reply to this

            Shar, this is understandable. In politics, people care much for their own than the populace. The economy is a social issue. Politics will take precedent. And the social goes to the background. Can you see the economy bouncing well here? But a little. It would not be so in all the states.

          4. Sychophantastic profile image91
            Sychophantasticposted 13 months agoin reply to this

            And now we have this 75-year-old in Buffalo - a part of an Antifa group who is trying to set up police officers by faking injuries and pushing incidents. Can you believe it? President Trump tweeted today about it. Unbelievable! These protestors have to be stopped. They are inciting violence and encouraging police to hurt them. I hope President Trump uses the military like he said he would.

            1. Sharlee01 profile image82
              Sharlee01posted 13 months agoin reply to this

              The subject of this thread is about the economy. Not sure why you bothered commenting if you have nothing to add to the conversation.

              1. Sychophantastic profile image91
                Sychophantasticposted 13 months agoin reply to this

                Why? Because the President has revived the economy in no time but Antifa supporters like that 75-year-old scumbag the President pointed out are doing their best to destroy the economy. If President Trump can take the military and wipe these protestors off the street, the stock market will be at 40,000 in no time.

                1. profile image0
                  PrettyPantherposted 13 months agoin reply to this

                  I heard our president will be doing a speech on racism written by Stephen Miller. I bet you are super excited about that.

                  1. Sychophantastic profile image91
                    Sychophantasticposted 13 months agoin reply to this

                    Our President has done more for black people than any other President by growing the economy and getting them jobs. Nothing brings equality like money.

                    And how many innocent black people were killed under President Obama? Why is President Trump being vilified but President Obama isn't?

                  2. profile image0
                    promisemposted 13 months agoin reply to this

                    I don't come here much anymore, but I'm glad I did today. Your comment is my best laugh of the entire day.

                2. profile image0
                  promisemposted 13 months agoin reply to this

                  I can tell from your posts that YOU are part of Antifa. Maybe even the club president.

  5. Virginia Allain profile image88
    Virginia Allainposted 13 months ago

    I wonder how those pesky Democrats got the whole world to participate in the fake pandemic? Really boggles my mind or perhaps, Sychophantastic, you are being sarcastic here.

    1. Sychophantastic profile image91
      Sychophantasticposted 13 months agoin reply to this

      I'm not convinced there is a pandemic. Nobody I know has gotten it. I haven't worn a mask or social distanced or any of this stuff. If we all had just listened to President Trump and ignored this whole thing, we'd be so much better off right now.

    2. Sharlee01 profile image82
      Sharlee01posted 13 months agoin reply to this

      She is being sarcastic. She pops up now and then and trolls. I guess it gives her some sort of satisfaction.

      1. Sychophantastic profile image91
        Sychophantasticposted 13 months agoin reply to this

        CNN recently ran a poll. 73% of Republicans are ready to resume their normal lives and only 23% of Democrats are.

        You can make fun of me if you want and call me sarcastic, but I believe what our President says.

        I believe this nation needs to go back to work. I believe that the 75-year-old guy in Buffalo was a set-up by Antifa. I believe that this COVID-19 thing has been overblown and isn't much to be concerned about.

        I believe what the President says.

  6. Miebakagh57 profile image52
    Miebakagh57posted 13 months ago

    Sychophantastica, are you kidding or something else? You seem to make an idol out out of Trump. I do wear a face mask because the pandemic is real. Why does your idol President Trump close the United States boarder when the first  contagious infections occured? A 14 days quaranty was exercised against visitors to the USA. Sychophantastica, how real are you? Covid-19 is real. The pandemic is real. President Trump knows it is real.               Although you have not seen an infect person. You are not the excemption.   For goodness sake the economy will grow and is bouncing. Be good. Blessimgs.

    1. Sharlee01 profile image82
      Sharlee01posted 13 months agoin reply to this

      She is being sarcastic. She is a troll, please ignore her, and hopefully, she will move on.

    2. Sychophantastic profile image91
      Sychophantasticposted 13 months agoin reply to this

      I don't know a single person who has gotten COVID-19. It's possible, as Roger Stone suggested in the NY Post, that it's all a ploy by Bill Gates to microchip us all.

      Why should I wear a mask anywhere? Why should I ruin my life staying inside. I'm going out and enjoying life. I hope you are too.

      There are many other posters on these forums who support these positions - COVID was overblown, Democrats are using it to destroy President Trump; etc. I'm not presenting an uncommon position.

      1. wilderness profile image96
        wildernessposted 13 months agoin reply to this

        "Why should I wear a mask anywhere?"

        For the same reason you don't drive drunk, or text while driving.  (Presuming, of course, that you do not do these things.)

        For the same reason you don't shoot fireworks over your neighbors house (had a neighbor that did that once).

        For the same reason you keep your dog on a leash.

        So that you do not harm the people around you.

        1. GA Anderson profile image92
          GA Andersonposted 13 months agoin reply to this

          Stop feeding the trolls bud.

          GA

          1. wilderness profile image96
            wildernessposted 13 months agoin reply to this

            I would agree...except that I see and hear that same question from a wide variety of people.  There appear to be millions of people in this country that have decided that because there was no major spread of the virus (as in a hundred million cases) it means that we did not have to take measures, and the measures we DID take are worthless.

            Perhaps one of those people will read that comment and think a bit about it.  Probably not, but they might.

          2. Sychophantastic profile image91
            Sychophantasticposted 13 months agoin reply to this

            Troll? How does my position differ from those of many others? I have much support in this forum:

            1. COVID-19 is a hoax
            2. President Trump is being aggressively undermined by Antifa and pro-COVID forces looking to damage the economy so he won't get re-elected.

            1. Sharlee01 profile image82
              Sharlee01posted 13 months agoin reply to this

              Who says your opinion differs from some here on HP chat. In many ways, the COVID pandemic was a hoax. For one example consider how the numbers of cases ballooned due to the unacceptable way, the CDC decided to count pretty much anyone that die of a flu symptom as a COVID case. Plus, recently the WHO claimed it is less likely to be spread by non-symptomatic persons that have the virus.

              And yes Antifa has certainly affected the economy of many business owners that they destroyed. Did just what they were told to do.

              I have not witnessed anyone here stating any of your concerns.

              At any rate, it's clear you are a leftist troll. Put your little mask on and go for a walk, it would benefit your mental health. Maybe join in a protest or better yet get a life.

              1. Sychophantastic profile image91
                Sychophantasticposted 13 months agoin reply to this

                Agreed! A complete hoax. Seems like you and I agree on a lot, so you might want to be careful calling me a troll. And the gentleman above wants me to wear a mask? Why? President Trump just mentioned that the so-called pandemic has been reduced to ash. So there's no reason to wear a mask. The fake pandemic is over.

                I'm pretty sure all these protestors are Antifa, bought and paid for by George Soros. President Trump is right to want to put them down using our military. Show them some real law and order!

                George Floyd and President Trump actually have a lot in common. They're both the victims of bad cops. Sean Hannity got that exactly right.

  7. Miebakagh57 profile image52
    Miebakagh57posted 13 months ago

    Sychophatastic, I can easily agreed with you that covid is over stretched. I assumed also that under the cirbumstance that it is real. Don't you agreed? You have not seen any covid infect person. But have you seen a TB or a VD infection? This is  vital. Go about your business. Go visiting. But also be on the alert.

    1. Sychophantastic profile image91
      Sychophantasticposted 13 months agoin reply to this

      I'm ready to go back to my normal activities and am comfortable doing so. And as far as I can tell, many people who think like me are as well. If you want to stay inside, that is your choice.

      1. Miebakagh57 profile image52
        Miebakagh57posted 13 months agoin reply to this

        That is great. I am not an excemption. But I go with a nose-mouth mask.

        1. Sychophantastic profile image91
          Sychophantasticposted 13 months agoin reply to this

          President Trump noted today that COVID is over - reduced to ash, rubble. So there's nothing to worry about. No mask required.

          1. Miebakagh57 profile image52
            Miebakagh57posted 13 months agoin reply to this

            Sychophatastic, so you take Trump at his word all the time? Many Americans were giving him the benefit of the doubt. I do too. I'm a  Nigerian. You very well know President Trump is  great joker! Okay, great covid is reduced to ash and is over. Those you see holding or putting on a face nose covering were ever on the alart, though the corvid pandemic is over! Don't you agreed? You may or you may not. Feel free to hold your opinion. No neutral gear here or I'll force a mask or two on you. Good day.

            1. Sychophantastic profile image91
              Sychophantasticposted 13 months agoin reply to this

              I do. I believe what President Trump says is the truth and what the liberal news media says is lies. They twist everything he says. I feel comfortable repeating whatever he tweets. I watch Fox News as well. They're the only reliable news network. I also like OAN, One America News Network. It's for real Americans, patriots.

              1. Miebakagh57 profile image52
                Miebakagh57posted 13 months agoin reply to this

                Sychophatastic, then you agreed putting on a face mask can be comfortable to certain or some of President Trump's supporters, teams, and fans? I am one of his many nuts on facebook and twitter.       With that said, I can agreed with Trump or not. I can challenged whatever he said. Remember, Trump do not always like the "yes" men round about him?     The pandemic can be over or not. It has create two schools. Yes, yerterday I noted it was 6% on the rise amidst the the easeing of the lockdown with 1000 deaths daily. And this does not include any George Floyd Effect. Eh, what do you say?

 
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