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  • in terms of how Corona viruses impacting America's economy.

  • And that's where we start today's edition of CNN 10 on Coral A Zeus.

  • Since the summer of 2009 when the great recession came to an end, the United States gross domestic product had grown in every quarter, every three month period of the financial calendar.

  • It was America's longest economic expansion in history.

  • But now, according to many economists, it's over.

  • U S Commerce Department said Wednesday that gross domestic product fell by 4.8% in the first quarter of this year.

  • That's its worst drop since the country was in the midst of the great recession in 2008.

  • And it's because of all the closures, shutdowns and especially the drop in consumer spending brought on by the Corona virus, consumer spending is the biggest factor in America's GDP.

  • Recession is generally defined is when GDP shrinks for 2/4 in a row, and economists increasingly believe that one started last month.

  • There's more data on the way the US government's monthly jobs report is set to come out tomorrow.

  • It'll give estimates on the number of jobs lost and the unemployment rate the percentage of American workers who don't have a job.

  • But this is a unique situation.

  • It was brought on by sudden shocks of businesses closing and people staying home.

  • So it's hard to say how quickly the economy will recover after Corona virus fears have passed, or what it will look like when it does.

  • Big question for everyone is when we reopen, we will lay out our California based thinking We're in a good spot to move for President Trump, revealing the White House's new guidelines for opening up America again, the federal guidelines call for states to meet specific gating metrics before considering lifting restrictions.

  • The future will depend on the choices we make.

  • What we do in terms of testing what we do in terms of monitoring thes getting criteria, are intended to indicate that were on the downward trajectory.

  • We're on the other side of those those curves that we've all become so familiar with reopening isn't a magic moment or a date, or the moment you get tired of all of this.

  • It's the moment where you can control the epidemic by means other than a shutdown, the ability to do extensive testing as we've heard again and again remains a challenge in many places.

  • When we really when we can't win without with zero level of risk, the question is how much risk and you tolerate the imagery off.

  • Putting the economy in tow induced coma and waking it up is not quite right because the party deteriorates during the coma.

  • It's a complicated dance because it's not just production, which is important.

  • It's also consumption, right, and so we need everything to start moving at the same time.

  • In orderto have a reasonable economy.

  • How do you get businesses back up and running?

  • What's the right solution?

  • Trying Teoh Maintain social distancing within a workplace We're having people wear masks within a workplace, including as well, regular testing on the manufacturing site, where you can have a certain amount of distancing at work and transport can pick up once again, not crowded airplanes.

  • Of course, we will eventually go through the spectrum off industries and services that can be open, with some distancing to industries where you need much more close contact.

  • This is going to be a very difficult labor market for a lot of people.

  • When we are able to reopen Mawr of the economy.

  • Many of those people will be able to return to work, but others not.

  • So the legacy will be high unemployment for some time.

  • It's not going to be an immediate bounce back going out to restaurants, cafes, other social gathering locations.

  • I suspect what we'll see is fewer tables, tables at greater distance from one another, just like what we've seen in grocery stores now, where they been asked to reduce the number of people anniversary store at any one time to you some fraction of their total capacity.

  • You can't really survive in the same space at 1/3 the customers beyond the two months or three months if we need to think about how we we provide support going forward, it may make sense at that point to say well, the they have to change, provide delivery services or toe be viable with appropriate amounts of distancing.

  • Or, you know, we closed down now and open up maybe a year later, when we have the vaccine and they become Bible once again.

  • Trivia bioluminescence.

  • When living organisms produce, light is a form of what phosphorescence camel luminescence for essence or crystal, a luminescence bioluminescence is a form of Kemah luminescence, a chemical reaction.

  • Next is a virtual field trip to a sort of virtual landscape.

  • Northlands with Z is in New Jersey when it's open.

  • It's a place where you'll find hundreds of tunnels through hundreds of mountains where AH, 100 plus trains pass through and it's all under one roof.

  • Ralph Waldo Emerson once quoted that Nothing great can never be achieved without use.

  • Yeah, I have a lot of enthusiasm, thats says.

  • North lands in Flemington, New Jersey North Lanes is the world's largest model railroad.

  • Well, I guess you know, everybody has a passion for something.

  • My thing was, trains had trains around the Christmas tree as a kid, wherever I lived them planning track plans and then over 18 years added five basements onto the house.

  • From that, I got fairly good at making mountains and bridges and design work, and we decided to give it to the world.

  • So we tore it all down about this land built Northlands.

  • Any given day, we run between 85 90 trains.

  • Some of the details in north lanes inside about 40,000 feet attract about 4000 buildings over 400 bridges many of the mountains, and here are 3.5 stories high.

  • Most things in your are scratch built underneath the entire superstructure.

  • There's enough lumber to build about 42 large houses.

  • Thanks a few hours to go through for the average person to see everything.

  • We want millions into debt to build this place everywhere.

  • I thought we were nuts.

  • The only one that I believe that what I wanted to do was my wife, and she was totally with me on this big time.

  • It's an artistic endeavor.

  • It's a gift to the world of what I can do, and it makes a lot of people happy.

  • Santa Claus is come into town.

  • What?

  • It's April, but never fear.

  • Santa's here to spread some cheer, he says.

  • That's what Santa does best.

  • Even during times like these.

  • And thanks to grants and donations, Santa Dave has delivered smartphones to senior citizens in a Chicago suburb to help them communicate with their families.

  • He's also been online reading bedtime stories to local boys and girls, helping create some good memories during difficult times.

  • You could look at it and say it's a media blitz saying, Baby, there's some jealousy from Dunder and Blitzen, but they're stuck outside where they have to rough it.

  • They can't zoom or Skype.

  • All they can do is hope it.

  • So it's up to the big man and his big presence.

  • You said Presence, I said, presents just seeing him.

  • Some.

  • The essence.

  • A pollinate magic for seniors, kids and teens delivering smiles despite Kobe.

  • 19.

  • All right, Franklin Academy High School is in Malone, New York.

  • You guys or san tastic I'm Carlos use for CNN.

in terms of how Corona viruses impacting America's economy.

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Waking The Economy Up | April 30, 2020

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    林宜悉 posted on 2020/06/29
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