Well, fancy that then

The US has a reputation for bouncing back from adversity quickly, but even by its own standards the turnaround has been remarkable.

Largely free market, largely capitalist, few worker protections – sure, in the breach and all that – is flexible enough to perform well near whatever is thrown at it.

We’re astonished, right?

9 thoughts on “Well, fancy that then”

  1. So Much For Subtlety

    I am actually surprised that the best efforts of the Deep State to produce a “Colour Revolution” seems to have failed so ineptly.

    First they lie about the corona virus to trash the economy and produce mass unemployment. They empty the jails so that there will be plenty of foot soldiers. They all but call on Blacks to riot. The ruling class gives them permission to break the lock down. Even much of the military get in on the act with an explicit call to get rid of Trump.

    But it doesn’t seem to have worked. The economy is in good shape and the recovery seems strong.

    Trump must be looking good for re-election.

  2. The UK also has few worker protections outside the Public sector, and when you think of the State / Private, balance you have to factor in the US legal system. Public protections and standards in the UK are private litigation the US which produce huge costs on business.It is more costly and regulated than the UK if anything.
    The US come back, may be due to the fact that the US slow down was largely a consequence of the lock down itself. Much of America is as yet relatively unaffected, 42 thousand of the 112 thousand deaths are in New York and New Jersey. The death rate per million overall is something like three times as high in the UK and the UK is vastly more proportionately reliant on London as an economic engine than the US is on New York.
    Evidence shows that the US is unusual, in that the lock down itself was only an additional factor to the sheer fear of the virus.
    I hope the US can lead the world out of the dark age that is looming but I fear this is a false dawn and the epidemic wave is yet to reach most of America. It does show that the recession may be V shaped when confidence returns .. that is my impression, and also my hope.

  3. ‘The Fed deserves the praise for America’s jobs turnaround. But Trump benefits
    The US stimulus programme looks to have been a success: one that has political as well as economic consequences’

    Government had nothing to do with it. It was government that caused the problem.

    The stimulus program just pissed money away.

  4. I hate to sound in any way as if I am endorsing the views of shite like Facepainter but I think its likely a dead cat bounce.

    America is corporate socialist not free market–look up the EPA and what their bullshit has done to US products– and I think there is a MUCH longer road back.

  5. Ecks has it – the US is far from free market. Among the big firms anti-trust seems to be largely a dead letter. In medicine and insurance it transparently ain’t free market and hasn’t been for decades (if not longer). Small businesses are routinely impeded by the anti-market nonsense of licensing.

    Perhaps that is all outweighed by most employment being “at will”, meaning (if I understand correctly) that the boss can fire you tomorrow for any reason or none.

  6. It’s true that the US is not a purely free market; there are huge numbers of industries where the government will try to regulate every aspect, but it likely is more free market than most. But if the Democrats win they make it clear that they see this as the greatest opportunity they’ll ever have to clamp down on “animal spririts”.

  7. Public protections and standards in the UK are private litigation the US which produce huge costs on business.It is more costly and regulated than the UK if anything.

    Even if this were true (and its not), the costs imposed by this ‘private’ regulation (which, Newmania, is how a market works) are obviously less than the flexibility to handle affairs between a diverse set of desires of employees, contractors, and employers, compared to, say, places that make a ‘one-size-fits-all’ set of ‘public’ rules enforced from on high.

  8. One difference between USA, UK and most RoW is innovation, free thinking and small businesses are generally not prohibited

    USA vs UK has an advantage of land space, even a one man garage is often huge vs a UK 1 or 2 lockups

    Also, a tradition of turn a blind eye if no harm. However, USA & UK being increasingly strangled by complainers*, regulation, enforcement and fines

    * Complainers: council closes xyz after one complaint, complainant name withheld

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