After the Labor Department reported on Friday a staggering 14.7% unemployment rate in April, White House senior economic adviser Kevin Hassett painted an even bleaker picture of the country’s future economic woes amid the COVID-19 pandemic.
White House senior economic adviser Kevin Hassett painted an even bleaker picture
No flies on him.
I bet he even has his résumé polished and ready to go.
Sure, it’s going to get worse. But then on May 15th it’s going down to zero.
Isn’t this the same guy who is predicting that all of the COVID cases will disappear by next week, or deaths will go to zero? Even if he’s not, it’s likely he’s underestimating what is going to happen…sure, some people are going back to jobs this month, but when infections start to spike up in the red states things will close back up, tighter and for longer than they would have if we did this properly. The only hope for the economy is that the blue states doing things right are able to start some economic movement again.
It’s still just amazing how badly the Trump administration and Republicans have screwed this up, and how they are trying to cover for that by forcing people to go out and mingle, and maybe get sick. It’s the opposite of what should have been done, and it’s made the crisis worse and will continue to do so for many months.
He’d better. Looks like he may have told the truth on TV. He’ll be out on his ass by 6
Two economists were sitting at a nudist colony. The one said, “Have you read Marx?” The other says, “It’s these wicker chairs.”
If “cubic polynomial fit guy“ is saying this, it’ll be very bad at first but unemployment will dramatically go to zero shortly thereafter.
Hey Hassett! Just plot a “cubic” N-order polynomial graph that magically has unemployment going to zero in a couple months. If you can’t do the math, just throw some data points onto a graph and use your spreadsheet spline fitting option. Worked for your covid-19 death forecast, didn’t it?
Exactly!
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It’s still just amazing how badly the Trump administration and Republicans have screwed this up,
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In our eyes. His base is saying and thinking, “Why can’t those socialist liberals give him a chance? He’s new at this. They never give him credit for anything. Besides, it’s a hoax and the death numbers are overcounted and faked to bring him down. Open up the economy now!
What no plug for his book “Dow, 36,000”?
Fun fact: The co-author James Glassman is currently the chair of the George W. Bush Institute. I remember him co-hosting one of the CNN Crossfires back in the 90’s.
Hastert is a crackpot. He’s an embarrassment to the economics profession.
It’s simple. They’ll just tweak the formula for the calculation to not include anyone who currently doesn’t have a job.
They already don’t count people as unemployed if they “only” look for work online and don’t apply for a position, whether or not there are any jobs to apply for…
And particularly to his Ph. D. adviser, who may soon have to change his name but, even so, will never hear the end of it as long as I draw breath.
“Our calculations also indicate that once half of the population is dead we can expect a high demand for labor in many sectors of the economy.”
Kevin Hassett is the Art Laffer of Larry Kudlows.
Larry Kudlow says your remark has been contained.
Welcome to 1933 everyone. I hope you all enjoy this bit of nostalgia because, I guarantee, it’s going to be with us for quite a while.
Yes, there are two Trumps, and most of my neighbors in this very conservative town all talk about the one I am completely unfamiliar with. Apparently you have to watch FOX 24/7 with your eyes held open Clockwork Orange style to see the one they are referring to.
