Current Events > Economic collapse may end up killing more people than the virus itself

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Monolith1676
05/12/20 3:22:01 AM
#1:


Delete the space before escaped

https://www.latimes.com/world-nation/story/2020-05-11/more-than-a-billion-people- escaped-poverty-in-the-last-20-years-the-coronavirus-could-erase-those-gains

This is one of those "DUH" moments.

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Monolith1676
05/12/20 4:30:15 PM
#2:


Bump

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EndOfDiscOne
05/12/20 4:32:43 PM
#3:


Subscribe to continue reading

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TheGoldenEel
05/12/20 4:35:59 PM
#4:


cant read the article

its almost like progressives have been arguing for years that we need to do something to help those living in poverty

the economic collapse is a symptom of our broken system, not strictly the coronavirus

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Nacen
05/12/20 4:35:59 PM
#5:


Subscribe to learn more of your impending doom

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Broseph_Stalin
05/12/20 4:37:18 PM
#6:


TheGoldenEel posted...
the economic collapse is a symptom of our broken system, not strictly the coronavirus

no it's entirely the virus dude lol
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CM_Ponch
05/12/20 4:38:03 PM
#7:


Damn, if only we had a government that could provide for its people instead of airline companies

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Monolith1676
05/12/20 4:38:25 PM
#8:


If you delete the space in the link it should work. I just looked at the whole article and I am not subscribed.

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Kolibri X
05/12/20 4:38:51 PM
#9:


But how can we blame this on Trump?

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#10
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IMNOTRAGED
05/12/20 4:40:44 PM
#11:


CM_Ponch posted...
Damn, if only we had a government that could provide for its people instead of airline companies


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#12
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brestugo
05/12/20 4:41:50 PM
#13:


The American economy has been brought back from collapse 2 or 3 times in our lifetime. It will come back again. People, however, do not come back from death.

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voldothegr8
05/12/20 4:42:03 PM
#14:


TheGoldenEel posted...
the economic collapse is a symptom of our broken system, not strictly the coronavirus

No it's strictly the unprecedented modern pandemic going on
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EvalAngell
05/12/20 4:44:00 PM
#15:


something, something cure is worse than the disease.

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UnfairRepresent
05/12/20 4:44:30 PM
#16:


unchecked coronavirus and overwhelmed healthcare syste will do more damage to the economy than a few months of lockdown.

Also if the economy can't survive a few months of lockdown without society breaking down then all of our systes are unsustainably flawed and need to be changed. Defending them is insane
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Broseph_Stalin
05/12/20 4:44:46 PM
#17:


RedWhiteBlue posted...
You're an idiot if you think the virus is the problem when most Americans are one small emergency away from going broke.

lmao if you think a global pandemic that literally shuts down the economy for months is "one small emergency"

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Funkydog
05/12/20 4:45:12 PM
#18:


brestugo posted...
The American economy has been brought back from collapse 2 or 3 times in our lifetime. It will come back again. People, however, do not come back from death.
The rich are willing to have others take that loss.

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#19
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EvalAngell
05/12/20 4:46:44 PM
#20:


UnfairRepresent posted...
unchecked coronavirus and overwhelmed healthcare syste will do more damage to the economy than a few months of lockdown.

considering all the recent antibody studies around the country (and world...) you can't say this anymore. there's a high probability it was being spread around the US as early as Dec 2019. So that's 3 months of people being infected and recovering unknowingly as life was going on as normal. the healthcare never collapsed then. why would it have in March & April?

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Broseph_Stalin
05/12/20 4:47:47 PM
#21:


RedWhiteBlue posted...
Someone didn't read my post. You have an education, right? Your literacy seems rather poor.

i did it was just an extremely dumb post
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brestugo
05/12/20 4:47:58 PM
#22:


Funkydog posted...
The rich are willing to have others take that loss.
The rich have vocal sympathizers too. So much for 'all lives matter'.

So much for 'prevention is better than cure' as well...

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TheGoldenEel
05/12/20 4:53:12 PM
#23:


Broseph_Stalin posted...
lmao if you think a global pandemic that literally shuts down the economy for months is "one small emergency"
well yeah, thats the thing

all it would have taken for 40% Americans to be financially fucked was one small emergency. They couldnt pay for a $500 unexpected expense

https://www.cbsnews.com/amp/news/nearly-40-of-americans-cant-cover-a-surprise-400-expense/

and then they were hit with coronavirus

a system where 40% of Americans are IMMEDIATELY hurting because of this is a system that was broken in the first place

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HBOSS
05/12/20 4:53:28 PM
#24:


the article talks about parts of countries in south america were poverty is overwhelming. its a world issue of economic collapse. the world will become worse if things dont change after this.

we as a whole human race need to do a lot better and that means letting go of the past ways to give ourselves a chance in this post covid19 world. sure we will recover but every covid19-like threat will be a one step forward, two steps back cycle of economic and pandemic dance


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Broseph_Stalin
05/12/20 4:58:46 PM
#25:


TheGoldenEel posted...
a system where 40% of Americans are IMMEDIATELY hurting because of this is a system that was broken in the first place

https://www.bloomberg.com/opinion/articles/2019-06-04/the-400-emergency-expense-story-is-wrong
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Zeeak4444
05/12/20 4:59:05 PM
#26:


Broseph_Stalin posted...
no it's entirely the virus dude lol

sure it is. No contingency plan for something weve seen occur periodically throughout history since the beginning of recorded history.

no youre right, it was totally the virus catching us completely unaware. No one knew things like this could happen.

dumbass.

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AlephZero
05/12/20 5:00:02 PM
#27:


The government can pay for everyone's living expenses forever, they just don't want to.

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TheGoldenEel
05/12/20 5:01:24 PM
#28:


Broseph_Stalin posted...
https://www.bloomberg.com/opinion/articles/2019-06-04/the-400-emergency-expense-story-is-wrong
Thats just an opinion piece

the $400 expense figure comes directly from a study done by the federal reserve

this article in summation says I dont believe that

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Broseph_Stalin
05/12/20 5:02:03 PM
#29:


AlephZero posted...
The government can pay for everyone's living expenses forever, they just don't want to.

lol
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Broseph_Stalin
05/12/20 5:03:30 PM
#30:


TheGoldenEel posted...
the $400 expense figure comes directly from a study done by the federal reserve

and the article I posted pointed out how the study was being inaccurately reported on by clickbait headlines.
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ElatedVenusaur
05/12/20 5:04:13 PM
#31:


AlephZero posted...
The government can pay for everyone's living expenses forever, they just don't want to.
Specifically, they would rather give bail-outs to any corporation that has ever made a donation to a super PAC, and their lobbying firms too!
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pikachupwnage
05/12/20 5:05:19 PM
#32:


EvalAngell posted...
considering all the recent antibody studies around the country (and world...) you can't say this anymore. there's a high probability it was being spread around the US as early as Dec 2019. So that's 3 months of people being infected and recovering unknowingly as life was going on as normal. the healthcare never collapsed then. why would it have in March & April?

Your Mother probably wishes she swallowed you.

I dearly hope this is just an act for trololols. How can someone so dumb even function?

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Zeeak4444
05/12/20 5:06:45 PM
#33:


voldothegr8 posted...
No it's strictly the unprecedented modern pandemic going on

The man who defined black swan events, Nassim Nicholas Taleb, is irritated that people are using his term for the COVID-19 pandemic, which he does not see as unpredictable at all. Indeed, Bill Gates, Laurie Garrett, and Taleb himself predicted such an event. Taleb sees the pandemic as result of vulnerabilities in our national and global systems, specifically related to over-connectedness and the concentration of power. He advocated for several fixes to those conditions in his 2012 book, Antifragile.

www.forbes.com/sites/nelldebevoise/2020/04/24/covid-19-is-not-u nprecedented-nor-unpredictable-heres-what-you-can-do-about-it

Plenty of similar articles and discussions out there.

take out space between the u and n in unprecedented for the URL.

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TheGoldenEel
05/12/20 5:07:04 PM
#34:


Broseph_Stalin posted...
and the article I posted pointed out how the study was being inaccurately reported on by clickbait headlines.
i dont see how some percentage of that 40% having to take on debt to pay that $400 makes it any less accurate

they still dont have that money

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brestugo
05/12/20 5:09:24 PM
#35:


Zeeak4444 posted...
The man who defined black swan events, Nassim Nicholas Taleb, is irritated that people are using his term for the COVID-19 pandemic, which he does not see as unpredictable at all.

That is a great book and read by a great many people in emergency management. I have 2 copies.

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EvalAngell
05/12/20 5:12:19 PM
#36:


pikachupwnage posted...
Your Mother probably wishes she swallowed you.

I dearly hope this is just an act for trololols. How can someone so dumb even function?

fuck off.

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Broseph_Stalin
05/12/20 5:12:41 PM
#37:


TheGoldenEel posted...
i dont see how some percentage of that 40% having to take on debt to pay that $400 makes it any less accurate

they still dont have that money

Access to credit is a lot better than having to save for every possible situation, actually. Saving rates are typically a lot higher in poorer nations for this very reason.
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ZMythos
05/12/20 5:49:53 PM
#38:


Broseph_Stalin posted...
Access to credit is a lot better than having to save for every possible situation, actually. Saving rates are typically a lot higher in poorer nations for this very reason.
Yea that's what I need. More debt.

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Broseph_Stalin
05/12/20 7:30:38 PM
#39:


ZMythos posted...
Yea that's what I need. More debt.

Debt in response to an emergency is not the same thing as financing your lifestyle with credit.

Anyway, point is the "statistic" isn't true.
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Ultima Dragon
05/12/20 7:36:42 PM
#40:


How could all the "experts" have possibly been unable to foresee such a cascade of negative consequences resulting from indefinite lockdowns and draconian measures imposed over what is largely turning out to be a nothingburger virus?

It's almost as if it were scripted that way. "You'll all be fine, anyone that tries to caution otherwise is a crazy conspiracy theorist or they only care about getting their hair cut or eating at Applebee's and would gladly break into your home and strangle your grandma to death to do it."

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Monolith1676
05/13/20 4:55:34 AM
#41:


Either way we lose

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1337toothbrush
05/14/20 10:03:02 AM
#42:


The economy was running on bullshit for a long time before covid-19. We never actually resolved many of the issues of the great recession.

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Knowledge_King
05/14/20 1:29:51 PM
#43:


Duh. That's why the shutdown was so dumb.

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Secretly
05/14/20 1:32:28 PM
#44:


Knowledge_King posted...
Duh. That's why the shutdown was so dumb.
For a guy named "Knowledge_King" you're pretty damn ignorant
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Questionmarktarius
05/14/20 1:43:13 PM
#45:


TheGoldenEel posted...
Thats just an opinion piece

the $400 expense figure comes directly from a study done by the federal reserve

your article in summation says I dont believe that
The article in summation says "here's why that figure is deeply flawed"

The question comes from the annual Report on the Economic Well-Being of U.S. Households by the Federal Reserve. The report finds, in 2018, that 61% of adults would cover a $400 unexpected expense using cash (or its equivalent). Politicians and many in the media seem to be subtracting 61 from 100, and concluding that 39% of people, to use Warrens phrase, cant come up with the money theyd need to handle this situation.

Instead, as the Fed report makes clear, though the remaining 4 in 10 adults would have more difficulty covering such an expense, many of them would be able to make it work by carrying a credit card balance or borrowing from friends and family. (Presumably some of these adults are 18-year-olds borrowing from their parents, but Im not sure about that.)

The report states: Twelve percent of adults would be unable to pay the expense by any means. Im dubious about that as well. In any event, 12% is a lot less than 39%.
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TheGoldenEel
05/15/20 10:13:15 AM
#46:




Questionmarktarius posted...
The article in summation says "here's why that figure is deeply flawed"

see

TheGoldenEel posted...
i dont see how some percentage of that 40% having to take on debt to pay that $400 makes it any less accurate

they still dont have that money



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Saxon
05/15/20 10:20:13 AM
#47:


The elite have been preparing for this economic upheaval for many years because they caused it and will be living underground in luxury estates while the rest of us on the surface are dying of war, starvation, and disease.
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PCgamingIS_Best
05/15/20 10:28:27 AM
#48:


No shit
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