Economic Conditions - Nashville, TN, U.S., Global

[smeagolsfree]

Thanks Mel. A bunch of these guys remember when I walked through this in late 2013. I am sure I am not alone here on UP and my heart goes out to all the have compromised health but we will get through this. 

That is one of the reason I felt like I needed to share because we all need to pull together and offer encouragement and not back bite each other as we need to come together right now. We are at times like a difunctional family on here, but family still. 

I am hopeful we can all just hang in here until after this thing blows over.

Per your request, I am posting this from the Nashville Yards post I did to here. Maybe some good news to come out of this. Just speculation on my part.

From my Nashville Yards Post

"I did just see an article on CBS saying this is the best time for some of these construction projects to really speed up as they are restricted by traffic. So with the reduced traffic, concrete pour and street closings can happen with little or no disruptions leading to a shorter build out time and thus lower cost. 

Some of these projects may save money due to decreased energy cost, decreased building cost, decreased labor cost due to the huge availability of labor in the market.

Also some of the projects may take advantage of lower interest rates, refinance current projects and thus save even more money."

 

[deletethisaccount]

[shanky]

While some of you were gushing over Trumps newfound civility in the last couple of days it is worth noting that he told the country yesterday that the states are on their own when it comes to getting  needed resources to combat this virus.  Instead of using the vast resources available through the federal government he instead dismissed such requests  because the federal government is not a "shipping clerk" - I crap you not.

This  includes the production and distribution of test kits, masks, ventilators and who knows what else.   The briefings from our governor are not encouraging either.   Basically he is leaving it to people to isolate themselves and trust that Tennesseans will do the right thing and self isolate.  

Although testing locations are being ramped up, it is only for those people who are exhibiting symptons and have clearance from physician to get one.  We are starting to suspect that many people are carrying the virus and are asymptomatic.  Unless testing is increased significantly we are going to be in this for sometime.  

Since the federal govt doesn't want to get involved then its imperative that  Lee address these problems.  Below are some areas I would like to have answers to.

When, if ever, will  people be able to have  a Covid-19 test on their own accord?

Specifically, what action will be taken by your administration  to provide testing for anyone who would like to know if they are carrying the virus or not.?

If you are planning such action can you provide a timetable for when this might occur?

Do you have a plan for acquiring the needed resources (masks, ventilators, etc) for first responders and those who become hospitalized?  If so, please elaborate.

Have you met with any Tennessee companies to coordinate a response to this need?  If not, do you plan to do so?

Are you concerned that if this virus does indeed spread that there are not enough hospital beds in the state for those that need them?

If you are concerned is there a plan?  Perhaps using college dormitories, etc.

The economy is tanking, retirement plans are being wiped out and people are going to get very freaking angry.  What we are in dire need of is Leadership.  Please start doing what you were elected to do.  If you would rather hang out on your cattle farm then please step aside.

 

[grilled_cheese]

Some good news, all Metro Golf Clubhouses will be closed but the courses will be open for walk-on play!

https://www.nashville.gov/News-Media/News-Article/ID/9510/Effective-March-18-All-Metro-Parks-Golf-Clubhouses-Are-Closed-Due-to-the-COVID19-Outbreak.aspx

[Nash_12South]

In Nashville, as of this morning, all dine in restaurants stopped, take out only. All gyms closed. It's a tad hollow as long as our adjacent counties don't follow these rules.

During the governor's new conference he stated a reluctance to close businesses state wide. Again, why shut down Nashville, if you can go to Williamson or Wilson counties and dine out.

Edited March 20, 2020 by Nash_12South

[Mr_Bond]

2 hours ago, shanky said:

While some of you were gushing over Trumps newfound civility in the last couple of days it is worth noting that he told the country yesterday that the states are on their own when it comes to getting  needed resources to combat this virus.  Instead of using the vast resources available through the federal government he instead dismissed such requests  because the federal government is not a "shipping clerk" - I crap you not.  This  includes the production and distribution of test kits, masks, ventilators and who knows what else.  

I've been listening to every minute of the briefings each day and heard him say "we're not a shipping clerk" but that comment was made in answer to a question and in no way reflects my takeaway of the briefing.  The question was something like "Will you be sending these supplies to the states?"  He said that the federal government is not shipping to the states but the states will be getting supplies direct from the manufacturers without federal bureaucracy getting in the way.

He spent much time stating that the federal government is talking to manufacturers of all the medical products we need (test kits, masks, ventilators, drugs, even making hospitals out of cruise ships) and making sure they are producing more than they ever have before.  This is why he invoked the Defense Production Act.  Some reporters wanted to know why he hasn't gone beyond simply invoking the act and his answer was that he is prepared to do so but hasn't needed to yet.

My point is not to defend Trump.  I'm trying to speak to the facts.  It sounds to me like the federal government is working at the highest level to force manufacturers to ramp up production.

Edited March 20, 2020 by Mr_Bond

[MLBrumby]

2 hours ago, shanky said:

While some of you were gushing over Trumps newfound civility in the last couple of days it is worth noting that he told the country yesterday that the states are on their own when it comes to getting  needed resources to combat this virus.  Instead of using the vast resources available through the federal government he instead dismissed such requests  because the federal government is not a "shipping clerk" - I crap you not.

This  includes the production and distribution of test kits, masks, ventilators and who knows what else.   The briefings from our governor are not encouraging either.   Basically he is leaving it to people to isolate themselves and trust that Tennesseans will do the right thing and self isolate.  

Although testing locations are being ramped up, it is only for those people who are exhibiting symptons and have clearance from physician to get one.  We are starting to suspect that many people are carrying the virus and are asymptomatic.  Unless testing is increased significantly we are going to be in this for sometime.  

Since the federal govt doesn't want to get involved then its imperative that  Lee address these problems.  Below are some areas I would like to have answers to.

When, if ever, will  people be able to have  a Covid-19 test on their own accord?

Specifically, what action will be taken by your administration  to provide testing for anyone who would like to know if they are carrying the virus or not.?

If you are planning such action can you provide a timetable for when this might occur?

Do you have a plan for acquiring the needed resources (masks, ventilators, etc) for first responders and those who become hospitalized?  If so, please elaborate.

Have you met with any Tennessee companies to coordinate a response to this need?  If not, do you plan to do so?

Are you concerned that if this virus does indeed spread that there are not enough hospital beds in the state for those that need them?

If you are concerned is there a plan?  Perhaps using college dormitories, etc.

The economy is tanking, retirement plans are being wiped out and people are going to get very freaking angry.  What we are in dire need of is Leadership.  Please start doing what you were elected to do.  If you would rather hang out on your cattle farm then please step aside.

 

Didn’t hear ‘states are on their own’.  Did hear him say the White House is not in the business of distributing the supplies and that states need to take the lead.  And I think that’s sensible as the effects of the pandemic are uneven over geographic and population ranges. I don’t  notice a ‘new civility’ either but do think a lot of people are seeing him now as more presidential than they did before but crises have a way of doing that. Those who hate him are going to continue finding reasons to do that ... ditto for those who love him. The vast middle will decide in the end if he did well. 
 

Thanks Mr. Bond ... the ‘shipping clerk’ comment was what I heard. He was referring to the private sector and local governments.  I don’t know how anyone could construe that as telling states they’re on their own.  On the contrary both California and New York’s governors have praised the administration for providing everything they’ve asked for. 

Edited March 20, 2020 by MLBrumby

[markhollin]

Economists warn that 2nd quarter contraction will rival 'steepest in history.'

https://www.bizjournals.com/nashville/news/2020/03/20/economists-warn-2nd-quarter-contraction-will-rival.html?iana=hpmvp_nsh_news_headline

[PruneTracy]

3 hours ago, shanky said:

While some of you were gushing over Trumps newfound civility in the last couple of days it is worth noting that he told the country yesterday that the states are on their own when it comes to getting  needed resources to combat this virus.  Instead of using the vast resources available through the federal government he instead dismissed such requests  because the federal government is not a "shipping clerk" - I crap you not.

The technical term for this is "federalism".

[Mr_Bond]

14 minutes ago, markhollin said:

Economists warn that 2nd quarter contraction will rival 'steepest in history.'

https://www.bizjournals.com/nashville/news/2020/03/20/economists-warn-2nd-quarter-contraction-will-rival.html?iana=hpmvp_nsh_news_headline

Recessions are defined as two consecutive quarters of negative economic growth.  It will be interesting to see if the decline in the numbers for the last two weeks of March are enough to pull Q1 into negative territory.  If not, Q2 will be the first negative quarter.  If Q3 is also negative, we officially have a recession.  If personal and business activity can begin to get back to normal in July, it's possible that Q3 shows a positive number and we won't have an official recession.  I'm not saying that will be the case, just that it's an interesting possibility.

According to Investopia (usually a reliable site), a depression is defined as a recession of three or more years or a decline in GDP of at least 10%.  I think it's possible we hit that number in Q2.

Since Nashville's economy has been so strong and has a healthcare base that will do well during the pandemic, we stand a decent chance of seeing a relatively quick return to the new normal, whatever that will look like.

[Nash_12South]

I'm not sure if the technicalities that define a "traditional" recession will hold in these circumstances. We are swiftly heading to 10%-20% or more unemployment. Other than food and staples most folks aren't buying anything. Eviction notices won't be served, but how will folks pay 2-3 months (or more) of back rent? We are going into uncharted waters.

[grilled_cheese]

Took us decades to get wine in grocery stores but a couple days after the bars and restaurants close we get this LMAO

https://www.tennessean.com/story/news/2020/03/20/nashville-could-allow-beer-delivery-amid-coronavirus-quarantine/2883185001/

[markhollin]

[DDIG]

Cooper going to call for Shelter in Place this morning.

[Nash_12South]

14 minutes ago, DDIG said:

Cooper going to call for Shelter in Place this morning.

Unless this is done to our surrounding counties, personally, this seems too much. It will close the businesses that are still managing to stay minimally operational and keeping people employed. 

Edited March 22, 2020 by Nash_12South

[downtownresident]

36 minutes ago, Nash_12South said:

Unless this is done to our surrounding counties, personally, this seems too much. It will close the businesses that are still managing to stay minimally operational and keeping people employed. 

Restaurants are still allowed to operate takeout, curbside, drive thru, and delivery services. 
 

Agreed that it won’t do much unless surrounding counties/cities do the same. Nashville hospitals will still get overrun if other jurisdictions don’t take this seriously(looking directly at you, Mt. Juliet). 

[tragenvol]

Governor has ordered all bars and restaurants in the state to close except for takeout and delivery,

Edited March 22, 2020 by tragenvol

[Nash_12South]

4 hours ago, tragenvol said:

Governor has ordered all bars and restaurants in the state to close except for takeout and delivery,

The governor also allowed restaurants to sell alcohol to go. We did take out from Bartaco yesterday and joked with the staff we wished we could take margaritas home too. Now we can! Small victories.......

Edited March 22, 2020 by Nash_12South

[nashvylle]

1 hour ago, Nash_12South said:

The governor also allowed restaurants to sell alcohol to go. We did take out form Bartaco yesterday and joked with the staff we wished we could take margaritas home too. Now we can! Small victories.......

Tax on alcohol is essential for city and state 

[deletethisaccount]

[DDIG]

Of note for this board, the order listed construction and design essential, so commercial development can continue.

[Sean blackdog]

Update add 517 right now. 

[Nash_12South]

1 hour ago, DDIG said:

Of note for this board, the order listed construction and design essential, so commercial development can continue.

Which apparently means architecture and engineering firm offices can stay open.

[shanky]

On 3/20/2020 at 1:13 PM, PruneTracy said:

The technical term for this is "federalism".

Indeed it is!  And while it may be effective system for  distributing power to the states in normal times  it doesn't work well in a pandemic.  Example: In our current situation the federal government has much more power than the individual states to purchase and negotiate the best prices for the medical supplies that is needed.   Heck it can even create its own market which is essential.  No manufacturer is going to ramp up or retool to produce masks temporarily  if it doesn't know who their going to sell it to.  If they had a deal to sell to the feds then problem solved.

 

[CityHeart]

15 minutes ago, shanky said:

Indeed it is!  And while it may be effective system for  distributing power to the states in normal times  it doesn't work well in a pandemic.  Example: In our current situation the federal government has much more power than the individual states to purchase and negotiate the best prices for the medical supplies that is needed.   Heck it can even create its own market which is essential.  No manufacturer is going to ramp up or retool to produce masks temporarily  if it doesn't know who their going to sell it to.  If they had a deal to sell to the feds then problem solved.

 

I wouldn't phrase the clip heading the way they did but this goes to your point. 

Gov. Cuomo advocating for the need to have the Federal Government help with Medical Supply Acquisitions and Distribution.

 

Edited March 22, 2020 by CityHeart