Monday, April 27, 2020

KANSAS CITY CONFRONTS RECESSION AFTER CORONAVIRUS LOCKDOWN!!!



The challenges of a deadly pandemic doesn't end after the lockdown is concluded.

Accordingly and because no other local media outlets wants to admit it . . .

THE CORONAVIRUS RECESSION HITS KANSAS CITY HARDER GIVEN THAT THE COWTOWN "NEW ECONOMY" RUNS ON GOOD TIMES, TOURISM AND SKETCHY REAL ESTATE SPECULATION!!!

In fairness, there's an upside here that is also unreported . . . The Federal Government is the largest employer in Kansas City and many of those jobs are far more secure than start-up ventures and development ponzi schemes. Still, a glimpse at old school economic indicators doesn't bode well for this town's bottom line.

Of course the only solution that politicos have devised is demanding more stimulus cash that risks both inflation and a more dangerous deflationary cycle of doom. TKC won't pretend to know much about economic but, then again, most people don't realize that the cash in their wallet and banks is mostly just a promise.

Overall, the precipitous economic downturn will have far reaching consequences throughout the greater Kansas City metro and across the nation that won't be resolved without a COVID-19 vaccine and a major boost of confidence. Just as the rising tide of the past 10 years has "lifted all boats" and inspired questionable choices beyond the former mayor's fashion accessories . . . The current deluge of financial hardship threatens to erode much of the confidence that inspired a culture of local biz hype.

Accordingly . . .

Here's just a sample of the financial adversity facing Kansas City following the reopen:

USN: The Coronavirus and the Coming Week of Bad News for the U.S. Economy

The Hill: Coronavirus exposes scars of Great Recession

AP: A flood of business bankruptcies likely in coming months

Forbes: 10 Ways To Prepare For A Post-Coronavirus Recession

NBC: Why the coronavirus crisis may prompt central bankers to scrap inflation targeting

Biz Insider: White House aides want Trump to talk only about the economy in public, as disastrous coronavirus briefings are thought to hurt his reelection chances

CNBC: Trump economic adviser warns US GDP could plummet 30% this quarter as unemployment spikes to Great Depression levels

New Republic: America’s Post-Pandemic Monoculture - Our elected officials are failing small businesses and workers, and it will transform our neighborhoods for the worse.

Developing . . .

7 comments:

Anonymous said...

this doesn't sound like any fun.

Now where's that 600 bucks we were promised?

I don't care if Trump signed it. As long as it cashes.

Anonymous said...

Stock market was up today. So I guess we should just keep eating.

Anonymous said...

^^^ Nailed it.

Anonymous said...


Sure the virus hits KC harder the stupid mayor won't open it up. Everyone else is starting to open. Being open means people go back to work.

Anonymous said...

^^And people can die. Use what's left of your rotting brain chud.

Anonymous said...

^^^Those who consider themselves vulnerable to the virus can stay in self quarantine. Others can weigh the odds and decide to get on with their lives.

Anonymous said...

90% of citizens don't have a clue as to what is going to hit them next when the economic flu hits full force.