Our response to coronavirus hasn’t bankrupted the country yet. According to the Bureau of Economic Analysis, every state saw its Gross Domestice Product decline in the first quarter of this year, but those declines were all in the single digits:
The average annualized drop nationwide was 5.0% in Q1. New York and Nevada had the worst drops, of 8.2%; Nebraska lost just 1.3%, while South Dakota dropped second-least, by 2.2%.
Governor Kristi Noem continues her steady stream of bushwah, attributing our lower-than-national-average drop to “Obviously, out low taxes and reasonable regulatory environment…” when it is far more likely that this economic slump is working like other economic slumps, hitting bigger states with more developed economies harder and faster. We likely saw less of the slump in Q1 than other states did because more of our economy is based on action that happens in the rest of the year, such as planting in Q2, tourism in Q3, harvest in Q4.
The first thing jumping out from behind a bush at me was that South Dakota had the second lowest decline of the 50 states, you Mr. H doesn’t call that locally bearing factoid out. grudznick assures you all that had South Dakota declined the second most, Mr. H would be waiving his arms and yowling at Ms. Noem.
I think Cory explained the facts. If we don’t have a developed economy, what’s to lose?
F***ing Rush Limbaugh 11:09am :
“Democrat Party (slur on the properly “Democratic Party”), and drive by media are doing everything possible to slow the shutdown.” Grey Media KOTA/KEVN are disserving the public keeping this joker on the air.
24/7/365. Republican propaganda. Dumbing down voters. American Medal of Freedom, my arse!
We need a cartoon of a naked Trump and Limbaugh swaddled in red, white and blue, finger feeding each other….
538 surveyed several top economists about what’s coming and what Congress could do, but probably won’t because it’s an election year. They used the word “disaster.”
Brace yourselves kids. We know the GOP is economically clueless.
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Grudz, read below the picture.
I see it now Mr. H. I apologize for suggesting you were just bushwahing things.
That single digit should be the middle finger directed at the trump/GNOem economy. I feel and smell the same thing I saw and felt when the bottom went out in 2008.
“Harley-Davidson last week said it was eliminating 700 jobs as part of a restructuring plan it described as unrelated to fallout from the pandemic. In April, the company said: “The crisis has provided an opportunity to reevaluate every aspect of our business and strategic plan. We have determined that we need to make significant changes to the company.”
Indeed, the pandemic, which marked an abrupt end to a nearly 11-year expansion, is prompting companies to rethink their operations and to trim fat that accumulated while the economy was growing. Wells Fargo, the nation’s fourth-largest bank, is drawing up plans to cut “tens of thousands” of jobs later this year, according to a Bloomberg News report.”
So when Harley goes under, are we gonna be stuck with a bunch of coughing geezer bikers with no parts to get those oil slicks home? Go to the Night Ranger website and you can see all concerts were cancelled…except dumb arse South Dakota bike rally. So there ya go, if this doesn’t tell the tale of what and where we now are, nothing does. Buckle up kiddo’s, it’s gonna be a doozy.
The market resets: if coronavirus depresses travel and concomitantly depresses sales of motorcycles, are we obliged to subsidize motorcycles, or are motorcycle makers obliged to innovate and build and sell products people actually need and want in the new economy?
We are going to have to take a hard look at everything right quick like. We cannot keep subsidizing the stock market to make it look good while it sucks billions of taxpayer dollars into a money pit that doesn’t help the economy as a whole.
For whatever stupid trumpian idea, he still has not activated the Defense Production Act through FEMA https://www.fema.gov/news-release/2020/04/14/applying-defense-production-act By doing this, the United States could begin to get a grip on this pandemic so we can safely rebuild this economy. We have regressed to the days of the first screw ups of Fat Nixon and GNOem months ago. We cannot have an economy when there are no safety measures in place and it’s a free for all including our military.
Take a look around South Dakota and count the masks and see the social distancing, pretty weak tea.