Ya it did. it didn't break 10.1%
https://data.bls.gov/pdq/SurveyOutputServlet
2009
7.8
8.3
8.7
9.0
9.4
9.5
9.5
9.6
9.8
10.0
9.9
9.9
Buh Byeeeeeeeeeeee !!
Apparently a UK team modeled likely effects of the virus in UK and US.
https://www.msn.com/en-us/news/world...es/ar-BB11jVNP
Title: A chilling scientific paper helped upend U.S. and U.K. coronavirus strategies
That session presented jaw-dropping numbers from some of Britain’s top modelers of infectious disease, who predicted the deadly course of coronavirus could quickly kill hundreds of thousands in both the United Kingdom and the United States, as surges of sick and dying patients overwhelmed hospitals and critical care units.
The new forecasts, by Neil Ferguson and his colleagues at the Imperial College COVID-19 Response Team, were quickly embraced by Johnson’s government to design new and more-extreme measures to suppress the spread of the virus.Apparently enough senior people in the Trump administration believe the report, and are reacting accordingly.The Imperial College group reported that if nothing was done by governments and individuals and the pandemic remained uncontrolled, then 510,000 would die in Britain and 2.2 million in the United States over the course of the outbreak.
The article goes on to say that Boris Johnson already started taking agressive action, well last night (Monday), and it seems that his actions prompted the Trump administration to do the same.
Last edited by Omega10; 2020-03-18 at 12:00 AM.
Mnuchin warns senators that US could see 20% unemployment rate due to coronavirus, source says
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Sounds exciting...
Johnson is doing fuck all except talk endlessly.The article goes on to say that Boris Johnson already started taking agressive action, well last night (Monday), and it seems that his actions prompted the Trump administration to do the same.
Today:
DOW: +5.2% (over 1000 points)
Boeing: -4.2% down to 124
Now it's clear why:
https://www.msn.com/en-us/money/comp...ry/ar-BB11khbR
Title: Boeing calls for $60 billion lifeline for US aerospace industry
The economic experts can translate better than me, but it sounds to me like Boeing is basically bankrupt, and requires a minimum of $60 billion to stay solvent. It also sounds like Boeing's numbers are so bad that banks refuse to loan them the money.Boeing spokesman Gordon Johndroe subsequently said the company "supports a minimum of $60 billion in access to public and private liquidity, including loan guarantees, for the aerospace manufacturing industry."
Boeing declined to say how much of that would be for the planemaker versus loan guarantees for its suppliers; it was also unclear if U.S. banks would loan any of the more than $60 billion without government backing.
The U.S. planemaker has told lawmakers it needs significant government support to meet liquidity needs and it cannot raise that in current market conditions, the people said.
Boeing confirmed Monday it was in talks with the administration about short-term support, while U.S. President Donald Trump said Tuesday the U.S. government would provide support. Boeing has noted that typically 70% of its revenue flows to its 17,000 suppliers and has told lawmakers that without significant assistance the entire U.S. aviation manufacturing sector could collapse.
Please tell me why this is incorrect.
Last edited by Masark; 2020-03-18 at 02:33 AM.
Warning : Above post may contain snark and/or sarcasm. Try reparsing with the /s argument before replying.
What the world has learned is that America is never more than one election away from losing its goddamned mindMe on Elite : Dangerous | My WoW charactersOriginally Posted by Howard Tayler
I'm not an expert, but yes, they are.
Boeing has a similar problem to the US, in that a problem they should have seen coming but didn't jumped out of nowhere and bit them right in the wallet. They lost a lot of public faith and therefore sales. They got some military contracts, true, but losing contracts because of Trump's unilateral breaking of the Iran Nuclear Deal hurt in the tens of billions, while the aluminium/steel tariffs couldn't possibly have helped.
Then the 737 crashed.
And then the coronavirus hit -- and it's a bad time to expand air travel.
Boeing had a $11 to $13 billion loan already signed for, which they just recently completed (they were "pre-approved" basically), so you're probably right that they're not getting more. Do they need $60 billion? Maybe. Boeing was supposedly worth $200 billion in 2017. Was. But I think the $60 billion is for the entire industry, which admittedly they're a big part of, but not the entire thing.
I really worry about the future of American aerospace given Boeing's problems. Airbus has been the big winner out of this and will continue to be very well off in the aviation wars. We are not very optimistic with Boeing going forward unless some form of massive and i mean massive handout not only saves them but lasts long enough for them to regain more market share which arguably will be hard as shit to get back.
I have been looking at the silver lining of sorts given this horrific situation which could mean that production facilities could escape Asia and move either back to their home nations or in our teams expectations is a building of Africa that is not tied to the belt / road.
I stand corrected.
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As much as I loathe corporate handout, I don't think we want to lose Boeing. I have mentioned it before, when it comes to large commercial aircraft, there are two options - Boeing or Airbus. Losing Boeing meant that the US had just ceded the global commercial aircraft market to EU.
They are asking for 60 Billion when they have spent 45 Billion on stock buybacks ( a practice i have said before is terrible and needs to go back to its 1933 standard ).
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If you do not allow them to fail it only encourages more horrific behavior is the problem and that would only be a problem if we as a nation failed to be diplomatic with our allies. I would rather that they come under the purview of the US Government which is a fine middle ground.
It's not just the services, it's also anything that supplies services.
Closed restaurants means no need for food deliveries.
Closed hotels means no need for toiletries.
Etc. Etc.
This will be far wider reaching than most can imagine. Places reading "closed" is the tip of the iceberg.
In 2008 you did not have local government ordering entire major metropolitan areas to basically close shop for a month. A lot of small businesses barring some massive govt bailouts are just going to fail because they don't have the cash reserves to stay solvent. A lot of stuff is going to fail and its not going to come back right away even once this problem passes.
When you get wide spread unemployment it wrecks confidence and consumer spending. Consumers don't spend that ripples out through everything. Worst case it moves into the land of a depression then you get people sitting on the money they do have and not spending figuring if they wait another week or month they can get the same thing cheaper. But if that drags on long enough larger businesses start failing and the ripples get bigger. I don't think we have any modern historical examples of simply shutting down huge areas to not only can't work but not allowed to travel elsewhere to find work. Its like a war with no bombs going off all the stuff is still there but you can't use it. If this lasts 2 or 3 months or god help us into the fall?
We may wind up like china where they are starting to reopen factories regardless that there are still new cases appearing because the alternative is don't start them and your society starts to crumble as whatever savings people did have get exhausted.