Joe’s economy still healthy: GDP expands +2.9%

FYI, 74% of economists think that the economy would be stronger now if the shutdowns had been more aggressive. Whether you think that is BS or not, it certainly is flawed thinking to think covid was not going to wreak havoc on the economy no matter what course of action we followed.

 

Thanks for agreeing that covid was going to cause a mess regardless of who was in office.

Not sure how they think economy would have better with more shutdowns.
Imagine the issue with supply chains and debt if more people were locked away for months.
Once Covid was out of wuhan we were screwed.

 

Just think though many of those people were old and on SS, living in nursing homes (in particular in NY) imagine how much SS and medicare money has been saved due to their deaths… Perhaps that was part of Cuomo’s plan all along.

 

Yeah we all remember that, do you remember Biden saying he was gonna crush covid? And then another 500k died AFTER the vaccine was rolled out?

 

This post really made me debate with myself..... C'mon man or Off topic? C'mon man wins decisively.

 

I think this possibility has really not been addressed. With a higher than normal amount of seniors moving on, it has to impact the social security crisis. Not to mention the additional transfer of money to younger people.

I am not saying it was a plan but that there may have been unforeseen benefits to the tragedy that is/was Covid.

 

Covid, the boomer remover...

 

Not really. About 300,000 elderly people (65+) have died of Covid, out of about 56 million in the country. That's pretty much a drop in the bucket at less than 1%. The vaccinations have been fairly successful in that regard.

 

So the drop in life expectancy is due more to drug addiction than Covid?

 

Agree I wasn’t serious about it being Cuomo’s plan. But I’m sure there is some effect. Many nursing home residents were large medicare/medicaid/SS liabilities. Not to mention possible pension beneficiaries.

Curious if anyone has looked at the effect.

 

I was looking for data on this.
Not debating your number but can you show a link.

I would think it would be higher as the mortality for over 80 was like 20-25% at one point. Like 15% for 70-80.

 

Actually older people dying would have less of an effect on life expectancy than a 50 yr old from covid.

 

Yet another thread that became an intractable covid discussion.
Between this and Rashads it feel like about 83 percent of GC content.

 

And how many of those 500k were voluntarily unvaccinated and how many more would have died were it not for the vax?

 

By the way nursing home residents who died of Covid were most likely infected by visitors and staff. Although it may not have been a good idea those nursing home residents returned to their homes under Cuomo's policy of returning residents who recovered from Covid and were no longer infectious had virtually no effect on other residents of the facility.

 

Depends on which drug you are talking about. Fentanyl, cocaine, heroine, crystal meth, marijuana, opioids, alcohol, Paula Deen food, donuts, Twinkies, candy bars, french fries, corn dogs, barbeque, onion rings, potato chips, ketchup, salt, etc. We've got it all! We look to the movie character Fat Bastard for dietary tips. The latest rage is french fries covered in melted cheese, bacon, and butter (maple syrup optional). It can give you a heart attack just looking at it. Covid has probably increased the amount of take-out people consume, and inspired people to try to make their home cooking more like restaurant cooking, which is notoriously unhealthy. Covid has also restricted access to the gym, reduced socialization with friends, and increased access to the television and the internet.

 

Here is something that will affect the long-term health of the major economies: the ratio of dependents to workers. Projections were made out to 2050, and Japan is in major trouble (going from 48 to 96 dependents per 100 workers from 2000 to 2050), China is doing somewhat better (going from 50 to 70), and the U.S. is doing a little better (going from 55 to 67). Japanese and Chinese women are just having fewer and fewer children.

The metric that shows why the world’s three biggest economies could be in serious trouble

 

Jan CPI up 0.5% vs Dec, 0.4% for core. Inflation is not dead yet.

 

6-month T-bill rate surpasses 5% as Treasury yield curve goes more negative following January inflation data (msn.com)

Yep .... on our way to 6% for the 6-month T-bill before the end of 2023?? The 5-year may be at 4% by end of day.

"Meanwhile, the 1-year T-bill rate inched closer to the 5% level, at 4.99%, while the policy-sensitive 2-year rate rose to 4.6%."