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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

Page 22 of 462
  1. Twirling Time

    Twirling Time Well-Known Member

    An economist I interviewed recently said we are an open-and-close cycle and every time we open up again prematurely, the virus will flare up and we’ll have to shut it down again. Each time, the virus will hit a new and higher plateau, like it appears to have done in Texas. Masks do work.
     
    Twirling Time, Aug 5, 2020
    #253
  2. Slacker

    Slacker Well-Known Member

    OK, doomer.
     
    Slacker, Aug 5, 2020
    #254
    maumann likes this.
  3. BTExpress

    BTExpress Well-Known Member

    The reporting that botched it was not reporting something "measured in two different ways."

    They took an annualized rate number and used it as the quarterly number. The people doing the measuring did fine. Those reporting the story botched it. They literally left out the words "annualized rate" in some of their stories and tweets.

    Let's say Mike Trout hits 20 home runs in April. That's a pace of 120 for the season.

    A reporter writes, "Mike Trout hit 120 home runs in April." He's not using another way of measuring. He's wrong.

    It's staggering that I'm still explaining this.
     
    Last edited: Aug 5, 2020
    BTExpress, Aug 5, 2020
    #255
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    1) That was some local news station website that clearly doesn't get a lot of attention.
    2) They left out the word annualized in the headline. It wasn't a reporting error. They copied and pasted an AP story and the intern who updates the website screwed up a headline. The AP story itself stated that the economy shrank at a 33 percent annualized rate, of course.
    3) GDP numbers always get reported on an annualized basis. When the economy is expanding, is this the kind of thing you'd key on? Cause it happens on the upside, too.
    4) FWIW, using their measurement, the economy actually shrank by 9.5 percent during the quarter. That was off a down quarter in the first quarter -- we were already in a recession before the pandemic if you believe their numbers. Even putting aside that their ability to measure GDP, including the made-up deflator they use to habitually make the number bigger than it is in actuality, that is a devastating number. If there was an objective true measure of economic activity that we could see, it was likely even more devastating than what they reported.
     
    The Big Ragu, Aug 5, 2020
    #256
    2muchcoffeeman, Spartan Squad, SFIND and 1 other person like this.
  5. Noholesinone

    Noholesinone Well-Known Member

    From the NYT:

    A group of 16 Republican senators said Wednesday that they supported spending $25 billion to forestall tens of thousands of layoffs by airlines in a big win for labor unions that had been pushing lawmakers to pass another bailout for the industry.

    In March, Congress authorized $25 billion to help passenger airlines pay salaries under the CARES Act provided they refrained from cutting jobs. But with those conditions going away at the end of September and air travel still depressed, airlines have said they could cut tens of thousands of jobs and reduce hours for other workers starting on Oct. 1.

    This would be the third trip to the feds for the airlines. No one wants to add to the unemployment numbers, but what’s the point of keeping people who aren’t needed?
     
    Noholesinone, Aug 5, 2020
    #257
    Inky_Wretch likes this.
  6. Della9250

    Della9250 Well-Known Member

    Maybe I'm naive, but you're telling me that 25 billion wasn't enough to cover more than four months?
     
    Della9250, Aug 5, 2020
    #258
  7. Noholesinone

    Noholesinone Well-Known Member

    Well, in April, Delta was spending $60 million a day. In June, United’s traffic was 3 percent of what it was in June ‘19. The chance that this industry has a rebound right around the corner? We all know that’s not happening.
     
    Noholesinone, Aug 5, 2020
    #259
  8. garrow

    garrow Well-Known Member

     
    garrow, Aug 12, 2020
    #260
  9. wicked

    wicked Well-Known Member

    And yet Sears/Kmart are Abe Vigodaing it.
     
    wicked, Aug 12, 2020
    #261
  10. maumann

    maumann Well-Known Member

    I'm tempted to travel to Oklahoma just so I can call myself an OK Boomer Doomer Boomer Sooner.
     
    Last edited: Aug 14, 2020
    maumann, Aug 14, 2020
    #262
    Donny in his element, wicked, Batman and 2 others like this.
  11. Batman

    Batman Well-Known Member

    Bring the wife, and maybe you can have a nooner.
     
    Batman, Aug 14, 2020
    #263
    maumann likes this.
  12. 2muchcoffeeman

    2muchcoffeeman Well-Known Member

    On the Sooner Schooner?
     
    2muchcoffeeman, Aug 14, 2020
    #264
    Batman and maumann like this.
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