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Re: shutdown could reduce economic growth to zero

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“Someone estimated that if it goes on for the whole quarter, it can reduce growth to zero,” Dimon told reporters on a media call to discuss fourth-quarter results. “

 

I think that might be overblown, but I've listened to a couple of money guys who crunched some numbers (for what it's worth) and believe that for every 2 weeks of the shutdown, we'll lose .1 - .2 in GDP.


"...Why is everyone a victim? Take personal responsibility for your life..."
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Re: shutdown could reduce economic growth to zero

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Gruffstuff,  LOL...you are preaching to the choir of "humility".....

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Re: shutdown could reduce economic growth to zero

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Gruffstuff, do you think they are re-thinking about how isolationism can have such a broad effect in the whole Brexit decision?

 

The people of Great Britain had smoke blown up their behinds, lots of promises, we can get concessions, we are great negotiators, we can get a special deal, you know because we're special.

 

They bought a pig in a poke, and now those promises can't be fulfilled.

 

They chose individualism over community.

 

Turns out the British aren't special, they just people like everyone else.

 

I think they should re-think, I think there should have been a vote on the decision to leave the EU and then another vote after the terms were set, so people could see what they were getting into.

 

I think they should just stay in the community, and if they want to do the Brexit thing in the future then do it, but as I stated above, a two vote process, not a pig in a poke.

 

In the US I think we should consider the TPP,  watch it, see how it goes, then if it looks like it's working for the other members ask to join.

 

With considerable humility.

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Re: shutdown could reduce economic growth to zero

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Olderscout, yes this is a problem and will only get worse from how I understand it.  This is sad because many do not understand that they will not have enough service sector jobs to sustain the economy of the middle to lower sectors, no?  I question the isolationist theory only because he is trying his best to pull us out of our NATO alliances and forming alliances with countries that do participate in isolationism...Russia, North Korea, China, at  least that is the way it appears to me. I am not saying we should not try to work denuclearizing and peace alliances with the opposition but not at the cost of the American values, integrity?!

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Re: shutdown could reduce economic growth to zero

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@Laurie42010 wrote:

Gruffstuff, do you think they are re-thinking about how isolationism can have such a broad effect in the whole Brexit decision? Just how far will the US decide to become an isolationist?


I wouldn't characterize lil donny's actions as "isolationist".

 

Seems he thinks the way to "win the race" is to try and trip all the people on your team while cheering for the opposition.

 

By taking a hatefilled position against poor brown people seeking asylum he has diverted the attention of his base from the on-going migration of good jobs to Commie slaves in Asia and diversion of profits from expanding the economy to enhancing the portfolios of those dividing the profits.

 

Question for all the Free Marketeers on the right:

FACT: Within a generation, advances in automation will make it possible to produce all the consumer goods now coming from the private sector using around 40% of the people now employed in those private businesses.

 

Without Government having the resources to offer jobs in the "non-consumption" sector - maintaining and expanding our infrastructure - what do you intend to do with the 60% of people automation will unemploy?

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Re: shutdown could reduce economic growth to zero

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I don't think that isolationism is the proper word. I feel that the US and England have entered in a very dangerous situation. and that is the erosion of the western alliance that has been the most secure and safe alliance that has help and promoted endured a peace that we have all enjoyed and now it seems to be ending

If Russia and China decided to become the powers of the world what will we all do? when there is no coalition to stop them?

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Re: shutdown could reduce economic growth to zero

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Gruffstuff, do you think they are re-thinking about how isolationism can have such a broad effect in the whole Brexit decision? Just how far will the US decide to become an isolationist?

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shutdown could reduce economic growth to zero

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https://www.cnbc.com/2019/01/15/jamie-dimon-says-shutdown-could-reduce-economic-growth-to-zero-this-...

 

Jamie Dimon says shutdown could reduce economic growth to zero this quarter if it continues

 

Jamie Dimon, the J.P. Morgan Chase CEO who has been bullish on the U.S. economy, said the partial government shutdown could wipe out growth from the world’s biggest economy.

 

 

“Someone estimated that if it goes on for the whole quarter, it can reduce growth to zero,” Dimon told reporters on a media call to discuss fourth-quarter results. “We just have to deal with that. It’s more of a political issue than anything else.”

 

 

 

Dimon, who is also chairman of the Washington, D.C.-based Business Roundtable, said that while the “underlying statistics for the economy globally are not bad,” the bank will be prepared for the eventual downturn.

 

 

 

There’s still growth, despite early signs of a slowdown in China, Japan and the U.S., among other nations, he said. “Consumers are in good shape, they’re spending money, they’re saving money, household formation is going up, wages are going up,” Dimon said. “Eventually there will be offsets that may push the economy into recession, we don’t know when that’s going to be.”

 

 

In the earnings release, Dimon addressed the U.S. political dysfunction that is now threatening to sap economic growth: In 2019, “we urge our country’s leaders to strike a collaborative, constructive tone, which would reinforce already-strong consumer and business sentiment. Businesses, government and communities need to work together to solve problems and help strengthen the economy for the benefit of everyone.”

 

 

 

The bank is “less concerned about the direct impact it may have on our fee performance, and more concerned about the impact it has on uncertainty and sentiment which can be pretty negative,” CFO Marianne Lake said of the shutdown. “The more prolonged, the more customers are impacted, the more it’s going to be hard to realize capital market fees.”

 

 

 

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