Coronavirus RESPECTFUL Discussion Only! (Mod edit: Closed)

[italian pat patriot]

@italian pat patriot come stai amico?

Tell us the latest. How is the government handling the economic impact over there?

My friend...pls...now i want relax...who his our next qb ???

 

[StairwayToSe7en]

The general economic state of the United States. Start with our level of credit card debt and work your way back from there.

True. Debt in general has been a problem for a very long time.

This virus may have exacerbated things, and many people are just now paying attention to it, but for anyone who has been paying attention, a downturn was just around the corner. The equity market was in a bubble due to all of the Federal Reserve's activities post-2008. People have since been encouraged to invest in high risk assets as a result, because that stimulus dramatically reduce risk premiums on safer assets, and it artificially pushed investors into more volatile assets and away from safer ones. The same policies increased the appetite for corporate debt by way of how easily they can access credit, and an increased demand for yield due to the expansionary monetary policy. Personal credit card debt levels have been high for many of the same reasons/policies that encourage bad spending.

Some people will always beg for some sort of stimulus, be it via monetary policy, or fiscal policy, such as giving everyone a check, without realizing that these things, although potentially beneficial in the short term, have negative long term effects.

 

[RobertWeathers]

My friend...pls...now i want relax...who his our next qb ???

Jay Cutler is coming out of retirement.

 

[italian pat patriot]

Jay Cutler is coming out of retirement.

Grogan or Eason still in shape ?

 

[venecol]

That’s the way our culture is. We’re addicted to consumer goods, by and large. Our culture as a country is to borrow the money for the things we want and pay it back later. You may contrast that with Asian cultures if you wish. So yes, there would be a large percentage that doesn’t use such a payout in the “correct” way and instead spends the payout on consumer goods. That’s why I wouldn’t advocate a direct payout. Instead, force people to produce bills that they’re past due on, confirm that information with the debtor, and submit a voucher directly to them for payment of the bill up to that certain amount. It’s not pretty, would take a ton of man hours, and wouldn’t be efficient at all. But it’s better than giving people a handout then having to do it again when a certain percentage of the country doesn’t use that handout for their bills.

That would take an inordinate amount of man hours. Impossible. They don't have time for this with all focus on the damn virus. Not practical.

Other option like prime stated is freeze all bills (rent, utilities, phone, cable, credit cards, auto, etc.). You would still need money for food and medicines. That may be easier to do, not sure.

This is a huge problem, regardless of politics. This country is too big and reliant on consumer spending to survive months worth of shutdowns. The more I think about it, fv^kkkkk.

 

[venecol]

My friend...pls...now i want relax...who his our next qb ???

I guess Stidham with Kessler. Idk, its sad but no big deal.

 

[Kontradiction]

That would take an inordinate amount of man hours. Impossible. They don't have time for this with all focus on the damn virus. Not practical.

Other option like prime stated is freeze all bills (rent, utilities, phone, cable, credit cards, auto, etc.). You would still need money for food and medicines. That may be easier to do, not sure.

This is a huge problem, regardless of politics. This country is too big and reliant on consumer spending to survive months worth of shutdowns. The more I think about it, fv^kkkkk.

The other option is the much more likely of the two. That said, are we then worrying about the people whose primary source of income is rental properties? What do they do, then?

 

[Adam Seward]

So who exactly would correct the lie being spread by ex Obama officials?
So are you saying Morrison lied?

I am saying a qualified panel with no direct affiliation to either administration clearly spells out the deficiency caused by consolidation well before the crisis was in effect and cannot be disqualified as a "political spin".

 

[JetFan79]

The other option is the much more likely of the two. That said, are we then worrying about the people whose primary source of income is rental properties? What do they do, then?

Sounds like their mortgages would be forbearaed for a few months. And if they met the criteria for other assistance, they'd receive it as well.

 

[venecol]

The other option is the much more likely of the two. That said, are we then worrying about the people whose primary source of income is rental properties? What do they do, then?

They probably have a mortgage on those properties anyway. I have a guy south of Daytona buying quad units, fixing them for rent that needed an unconventional loan and asked me if I wanted to invest so after due diligence I did.

He owns the units, collects the rent, and pays me interest only payments at 6% on a balloon mortgage due in 3 years. In this scenario he wouldn't collect the rent, I wouldn't collect the interest, but we would both survive. We're talking short term here hopefully, right.

 

[primetime]

That would take an inordinate amount of man hours. Impossible. They don't have time for this with all focus on the damn virus. Not practical.

Other option like prime stated is freeze all bills (rent, utilities, phone, cable, credit cards, auto, etc.). You would still need money for food and medicines. That may be easier to do, not sure.

This is a huge problem, regardless of politics. This country is too big and reliant on consumer spending to survive months worth of shutdowns. The more I think about it, fv^kkkkk.

SNAP/school meals (transformed to EBT money)/WIC will cover food and Medicaid will cover healthcare bills for people who need it. But yes, the economy is doomed.

 

[Observer]

My friend...pls...now i want relax...who his our next qb ???

Obviously Edelman.

 

[venecol]

Senate Republicans have watered down sick pay/family leave portion of House bill. Looks like its going to happen with some compromise. If you get Covid-19 you're shyt out of luck on family leave. Exceptions for companies with <50 employees.

Still testing to be free and some expansion in Medicaid.

 

[JetFan79]

Senate Republicans have watered down sick pay/family leave portion of House bill. Looks like its going to happen with some compromise. If you get Covid-19 you're shyt out of luck on family leave. Exceptions for companies with <50 employees.

Still testing to be free and some expansion in Medicaid.

I just heard McConnell speak like 30 minutes ago. Said there was talk of not passing the bill only because they wanted something bigger.

But said instead they would pass the House bill immediately and start work on a 2nd larger bill immediately. Not allowing Senators to go home until both bills are passed.

So that's not the case now?

 

[venecol]

I just heard McConnell speak like 30 minutes ago. Said there was talk of not passing the bill only because they wanted something bigger.

But said instead they would pass the House bill immediately and start work on a 2nd larger bill immediately. Not allowing Senators to go home until both bills are passed.

So that's not the case now?

Sounds like you got the latest. I think McConnell just hates passing a Pelosi bill. So petty.

 

[JetFan79]

So I haven't been to AC in almost a year, and obviously casinos are closed now.

Just checked my BS email account. 7 emails from casinos trying to get me to gamble online. Literally saying since America is stuck home now, may as well gamble to have fun.

Hey, this is America and capitalism n all, but damn that just seems predatory.

"Everyone getting $1k checks? We gotta get some of that!"
- casino execs

 

[RobertWeathers]

Sounds like you got the latest. I think McConnell just hates passing a Pelosi bill. So petty.

Seeing how the last one was predicated on a BS impeachment I don't blame him for reading the fine print.

 

[Deus Irae]

 

[venecol]

Seeing how the last one was predicated on a BS impeachment I don't blame him for reading the fine print.

Huh

 

[RobertWeathers]

Huh

Huh what?

McConnell is doing his job. You clearly disagree with it and thats fine but saying hes doing it out of spite of Pelosi is unfounded.