Covid-19 Economic Impact

[gopokes88]

Is there somewhere other than that film that can corroborate this statistic?

It originates from Greg Mankiw’s “Macroeconomics” textbook specifically the 7th edition (studied that one in college). It’s actually 37k, but still.

[gopokes88]

https://kfor.com/news/local/stitt-ok...evenue-failure

Expected recvenue shortfall.

Tap the rainy day fund for the full failure. Deal with it next year, there’s a million other higher priorities than trying to figure what to cut and how much.

[betts]

1. Can anyone say with certainty when it arrived?

2. Can anyone say with certainty what the real rates are?

3. Can anyone say with certainty the estimates are correct?

If not then we shut down America using faulty data. As is the recent estimates are incorrect.

4. Can anyone tell us how many deaths will be caused by economy collapsing? How many domestic violence cases increase? Suicides?

Everyone is fixated on numbers that can’t be substantiated. So anyone who disputes them is a radical. What about those who lost everything they spent years building?

http://news.mit.edu/2020/pandemic-he...-recovery-0401 I think this is rather interesting data. I very much believe that by being cavalier about this pandemic, we will create far more and longer lasting economic chaos than if we try to ameliorate its’ effects as quickly as possible. Additionally, I’m on a couple of doctors’ groups and the stuff we’re hearing out of other states hit harder....so far...is terrifying.

[jerrywall]

Tap the rainy day fund for the full failure. Deal with it next year, there’s a million other higher priorities than trying to figure what to cut and how much.

Yeah, I was gonna say this. Thank goodness we have the rainy day fund. Tap is and move on.

[FighttheGoodFight]

Yeah, I was gonna say this. Thank goodness we have the rainy day fund. Tap is and move on.

Sounds like in the article that is what Stitt is leaning towards. Really it is the smart thing to do and see what happens next year.

[HangryHippo]

It originates from Greg Mankiw’s “Macroeconomics” textbook specifically the 7th edition (studied that one in college). It’s actually 37k, but still.

Thanks, gopokes.

[gopokes88]

Sounds like in the article that is what Stitt is leaning towards. Really it is the smart thing to do and see what happens next year.

By that point the Feds may fill the gap, we could have a $2 trillion infrastructure bill, if per capita by population Oklahoma’s portion would be around $25,000,000,000 , and we might be (I doubt it) on the mend economically.

So much can happen between now and then. 1 problem at a time.

[gopokes88]

Imagine what 25 billion would do for OK’s infrastructure.

I-40/I-44 interchange done
I-35/240 done.
Commuter rail done
High speed train to Tulsa done.

All of Tulsas freeways done.

That’s maybe $10 billion.

Still $15 billion left.

[HangryHippo]

Imagine what 25 billion would do for OK’s infrastructure.

I-40/I-44 interchange done
I-35/240 done.
Commuter rail done
High speed train to Tulsa done.

All of Tulsas freeways done.

That’s maybe $10 billion.

Still $15 billion left.

I'm sure as hell on board with all of that.

[DKG]

Imagine what 25 billion would do for OK’s infrastructure.

I-40/I-44 interchange done
I-35/240 done.
Commuter rail done
High speed train to Tulsa done.

All of Tulsas freeways done.

That’s maybe $10 billion.

Still $15 billion left.

That would all be great. I selfishly want them to build an Interstate up to NW Oklahoma as I recently relocated to Denver. It would be great to cut some miles and some time off that drive.

[Teo9969]

Imagine what 25 billion would do for OK’s infrastructure.

I-40/I-44 interchange done
I-35/240 done.
Commuter rail done
High speed train to Tulsa done.

All of Tulsas freeways done.

That’s maybe $10 billion.

Still $15 billion left.

Imagine the inflation!!!

[FighttheGoodFight]

They should spend it on internet access. Treat it like electricity and get all Oklahoma’s internet access. If they expect all kids to learn that way then it must be considered a need now instead of a want.

[SEMIweather]

They should spend it on internet access. Treat it like electricity and get all Oklahoma’s internet access. If they expect all kids to learn that way then it must be considered a need now instead of a want.

This is a good idea, especially given that remote work may well maintain its popularity after this is all over. Which in turn, may lead to other benefits, e.g. reversing the decline of rural America and making cities more affordable.

Of course, we desperately need to improve the road and (especially) the public transit infrastructure in this country, as well.

[BBatesokc]

Why wife's employer has learned during this that they don't need nearly as much office space and that much of their local staff can work from home and save a lot of money. Plus, most of the staff sees this as an added benefit for themselves personally.

[gopokes88]

https://www.wsj.com/articles/the-shu..._copyURL_share

[gopokes88]

Why wife's employer has learned during this that they don't need nearly as much office space and that much of their local staff can work from home and save a lot of money. Plus, most of the staff sees this as an added benefit for themselves personally.

The part they aren’t mentioning is that don’t need as much staff either and cuts are coming.

[Edmond Hausfrau]

US Postal service says they are running on fumes and could stop delivery by June. They employ 600,000 and the stimulus bill provided them $10 bil.
Their spokesman, to CBS news, said they need $25 bil and added that much of their business is delivery of medication.

[catch22]

US Postal service says they are running on fumes and could stop delivery by June. They employ 600,000 and the stimulus bill provided them $10 bil.
Their spokesman, to CBS news, said they need $25 bil and added that much of their business is delivery of medication.

I don't get this. Mail volumes are still high, at least ours are at United. We even increased our payload capacity we allocate to USPS to "unlimited". I worked a domestic flight the other day with 7,000 lbs of mail. We typically only let USPS book up to 2,000 lbs per domestic flight

[Bunty]

US Postal service says they are running on fumes and could stop delivery by June. They employ 600,000 and the stimulus bill provided them $10 bil.
Their spokesman, to CBS news, said they need $25 bil and added that much of their business is delivery of medication.

I won't be surprised if Trump and Republicans think it's a good time to try to privatize the Post Office. But doubt Democrats in Congress would allow it. Some people think it would be unconstitutional, but this says it isn't: http://postalnews.com/blog/2015/05/0...ostal-service/

[Jersey Boss]

I don't get this. Mail volumes are still high, at least ours are at United. We even increased our payload capacity we allocate to USPS to "unlimited". I worked a domestic flight the other day with 7,000 lbs of mail. We typically only let USPS book up to 2,000 lbs per domestic flight

It has nothing to do with volume or efficiency. Congress imposed a pre funding requirement on the pension system of USPS. Other shipping companies or other entities with pension benefits have a pay as you go pension system.

Retiree Health Benefits Prefunding
https://about.usps.com/who-we-are/fi...2010_4_002.htm

[Bunty]

It has nothing to do with volume or efficiency. Congress imposed a pre funding requirement on the pension system of USPS. Other shipping companies or other entities with pension benefits have a pay as you go pension system.

Retiree Health Benefits Prefunding
https://about.usps.com/who-we-are/fi...2010_4_002.htm

Maybe the point of doing that was to make the Post Office look bad from having huge losses and so make privatization more popular as a solution.

[Edmond Hausfrau]

https://kutv.com/news/coronavirus/us...lawmakers-warn

Here's a link to a local CBS news affiliate. I'm really not sure if it's just because of the spokesperson news release, or if their books are really that bad.
If nothing else, the civil servants doing this work are clearly at increased risk during this pandemic.

[BoulderSooner]

They have China and Italy and other countries to pull numbers from, so its not like the data starts with America and we have no idea how bad it can be (or, at least, how bad it has been for other countries). I mean, New York at this point is in a bad spot. Its not like people are just imagining that.

But, yeah, more should be done to help those affected by business closures, etc. That is absolutely another impact of the virus and it needs to be addressed just as much as we need to limit the spread of the virus.

Its not a black and white, one or the other argument.



You've lost your job. Money's tight. You get mad and frustrated at the world. You're a POS so you decide to take it out on your spouse.

You were already a POS spouse abuser, but they at least had reprieve when you were home from work. Now you're home all the time and you're even madder due to the aforementioned reasons.

Etc.

the virus was in the USA before it was in ITALY

[BoulderSooner]

damn, that seems like bad news for OKC

boeing in okc is part of their Defense division it has had no funding cut

[BoulderSooner]

university of washington drasticly revised their projections (down) with a peak coming april 15th and 80k total deaths


https://covid19.healthdata.org/projections