Economic Downturn: Difference between revisions
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{{Hint|A detailed study of 4000 people indicates about 50% downturn in overall consumer spending over March - [https://www.nber.org/papers/w26949.pdf]. There is an inconsistency between this and the reported 8.7 decrease in spending reported in mainstream media [https://www.thebalance.com/u-s-retail-sales-statistics-and-trends-3305717]. How to reconcile these two?}} | |||
=May 2020= | =May 2020= | ||
Newest on top: | |||
#US joblessness rate is high. [https://www.politico.com/news/2020/05/08/when-will-jobs-return-243925]. OSE can help in some of the recovery via mass creation of right livelihood. We can have some impact by opensourcing some modes of production, shifting standard investor-owned gains (such as cordless drill industry) from investors to producers. This would be a structural and historic shift from the few to the many, but what could OSE help with that could generate deeper and immediate change? Distributed production could be such a mechanism. See [[COVID Economic Recovery]]. | |||
#4.8% quarter drop - [https://www.statista.com/chart/18839/quarterly-real-gdp-growth-in-the-united-states/] | |||
#[[Dow Jones Industrial Average]] down by 20%? [https://www.google.com/search?q=graph+of+dow+index&oq=graph+of+dow+index&aqs=chrome..69i57.5971j0j4&cwient=ubuntu&sourceid=chrome&ie=UTF-8]. OK, but this doesn't mean much in sales. | |||
=April 2020= | =April 2020= | ||
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*7.5 decrease in consumer spending | *7.5 decrease in consumer spending | ||
= | =March 2020= | ||
This one shows 50% drop USA: | |||
*'''It's 9% drop. [https://www.thebalance.com/u-s-retail-sales-statistics-and-trends-3305717]''' | |||
*This one shows 50% drop USA: | |||
https://www.economist.com/graphic-detail/2020/04/09/how-the-covid-19-pandemic-is-changing-americans-spending-habits | https://www.economist.com/graphic-detail/2020/04/09/how-the-covid-19-pandemic-is-changing-americans-spending-habits | ||
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How do we reconcile both? | How do we reconcile both? | ||
=Links= | |||
*[[COVID Economic Recovery]] | |||
Latest revision as of 17:20, 8 May 2020
Hint: A detailed study of 4000 people indicates about 50% downturn in overall consumer spending over March - [1]. There is an inconsistency between this and the reported 8.7 decrease in spending reported in mainstream media [2]. How to reconcile these two?
May 2020
Newest on top:
- US joblessness rate is high. [3]. OSE can help in some of the recovery via mass creation of right livelihood. We can have some impact by opensourcing some modes of production, shifting standard investor-owned gains (such as cordless drill industry) from investors to producers. This would be a structural and historic shift from the few to the many, but what could OSE help with that could generate deeper and immediate change? Distributed production could be such a mechanism. See COVID Economic Recovery.
- 4.8% quarter drop - [4]
- Dow Jones Industrial Average down by 20%? [5]. OK, but this doesn't mean much in sales.
April 2020
- 25% down on the S&P 500, which is apparently faster than Great Depression - [6]
- 7.5 decrease in consumer spending
March 2020
- It's 9% drop. [7]
- This one shows 50% drop USA:
This one shows 9% drop USA:
https://www.cnbc.com/2020/04/15/us-retail-sales-march-2020.html
How do we reconcile both?