@Sandy Shopper wrote:
Keep trying. I once read that it only took 10 people to call or write to get the attention of their local congressperson. Keep trying.
So you're not a Stephanie Kelton fan, huh?@panama18 wrote:
When ya'll get through wanting, go to Amazon, pick up a free copy (Kindle) of Fiat Money Inflation in France, and read it. While you're there, pick up a copy of "When Money Dies" by Adam Fergusson and read that too. It'll sober you up.
My feeling is that there will always be such freeloaders or exploiters in society, but that we shouldn't not help those who truly need it just because of those who take advantage of a program. I'd rather still extend stimulus in the current form, knowing there will be some "cheaters," than hurt those who are innocent.@Madetoshop wrote:
Overheard a few late teens/early 20's while on line at COSTCO a few days ago. "I'm not going back to work until they stop paying me $600 per week plus UI. This is GREAT" I realize this is just one view of the current situation now with employment and the economy but it infuriates me.
@Sandy Shopper wrote:
bgriffin and walesmaven, that is a hard thing to overcome, but right now is the time when most representatives are most receptive to hearing things they would otherwise not consider. I would be discouraged, too, if I were in bgriffin's shoes.
But there's this: McConnell signal to Republican Senate candidates: Distance from Trump if necessary
(Can you tell I'm an eternal optimist?)
Almost half of Americans couldn't cover a $400 emergency pre-COVID.@Shop-et-al wrote:
If I of all people can get by without any of the state unemployment benefits and without any of the federal Covid unemployment benefits, other people should be able to figure out how to do this.
Harsh? Of course! But I am not a theoretical person for an argument. I am a real, live, living, breathing person who does not ask more of others than what I already do and have been doing since those benefits were introduced. I received one stimulus check in the first round of those widely distributed checks. I may or may not be eligible for another one..
I'm undecided on MMT. I tend to think it can be potentially used in a helpful way, but certainly contains the elevated risk of ruin if done in a reckless, irresponsible way. Given most politicians' proclivity towards short-term thinking over long-term financial well-being of their countries, more than likely MMT would lead to more bad outcomes than good ones when used by governments, imho.@panama18 wrote:
Uh, no. If there's a road to ruin, it's Modern Monetary Theory. Some people never learn.
Lots of people don't have savings, Shop-et-al. Without federal and state bailout/UI help, they'd be starving and homeless with more people unemployed than current job openings.
The human spirit needs places where nature has not been rearranged by the hand of man. ~ Unknown
I’ve noticed that everyone who is for abortion has already been born. - Ronald Reagan
For the unemployed, rising grocery prices stretch budgets even more
Beef and veal prices rose 20.2 percent, and eggs rose 10.4 percent since February, according to data released Friday by the Bureau of Economic Analysis
Sean Valadez, 35, of the greater Los Angeles area, came home from Costco in mid-March with a $600 receipt, hoping his grocery haul would feed his family for up to 45 days after he lost work in the music and live entertainment industry. When he went back to the store 40 days later, Valadez was stunned by the rise in prices for ground beef, chicken, salmon and eggs. The grocery bill was an eye-popping $1,000, not including the alcohol he also purchased.
We could ask the same of corporate America. Why didn't they deleverage and pay down their debts the past decade?: [www.forbes.com]@Shop-et-al wrote:
When they had money, did they save a little something for at least the first six months of [covid, natural disaster, other calamity, anything unforeseen but yet predictable in that something will undoubtedly befall us sooner or later]?
Today, tax-payers have to bailout these profligate corporations - many of them whose finances are so bad they have junk rated debt:@ wrote:
According to a Forbes investigation, which analyzed 455 companies in the S&P 500 Index—excluding banks and cash-rich tech giants like Apple, Amazon, Google and Microsoft—on average, businesses in the index nearly tripled their net debt over the past decade, adding some $2.5 trillion in leverage to their balance sheets. The analysis shows that for every dollar of revenue growth over the past decade, the companies added almost a dollar of debt.
American Airlines gets a $5.8 billion grant. Yay. Meanwhile, some members of Congress aren't sure if Sally or Jose across the street should continue to be supported in this once-in-a-century pandemic that's brought down the global economy. Either no one should get bailed out or everyone should, imho.@ wrote:
All told, the Federal Reserve is now earmarking $750 billion, supported by $75 billion from taxpayers, to help large companies survive the pandemic—all part of its $2.3 trillion rescue package.
Did you like how Mitch McConnell neatly passed the ball to everyone else? He said he'd support whatever the WH and the lower house can work out.
Meanwhile, I was donating stuff today (not a shop) and was in a loooooooooooooong line of cars at the drive-thru drop-off spot. I wondered how many people were just cleaning up and keeping things in circulation/out of the landfill; how many were doing a mystery shop that required an in-person donation; and how many were like me. Were they also thinking that during this limbo between fed handouts that it might be good to put things into an affordable market for students or anyone who could use a break?