I could spend a whole day blogging on economics and economic policy but that’s not good for my own personal economics.
GDP came in today at minus 3.8% which is quite bad although not nearly as bad as the 5.4% decline projected. So the good news is that the economy is cliff diving but the cliff is slightly less tall and less sheer.
I’m hearing bailouts may approach $4 trillion . Staggering
The level of nonsense in economic policy is staggering: if you hear arguments that this current crisis can be fixed by tax cuts only or that it will right itself with no dire effects whatsoever, you should head for the nearest exit. Quickly. I’m awestruck by the level of misinformation on the evolving economic crisis: caveat emptor.
Locally, my thoughts on the GASD aid from Schumer: I see more construction (uh oh) and I’m not sure how programming will be effected. I agree with Ann Peconie in a gifted/talented program although I’m not sure if such funding is enabled by the aid or if the board supports such programs.
And finally in tribute to Stephen Colbert’s segment last night on the Audacity of Nope: if you portray any hope or optimism in revitalizing the city or advocating change, you will be vilified. Just Say Nope to Hope.