Inflation (sometimes called an indirect tax) is another way.@1forum1 wrote:
There are basically only four ways to pay off government debt. 1) cut government spending 2) shift spending to areas that create jobs 3) drive economic growth at a faster rate 4) raise taxes. .
Almost 6 million Americans say they are somewhat to very likely to lose their homes in the next two months:@ wrote:
Expiring state eviction bans have led to hundreds of thousands of additional coronavirus cases, new research finds, raising alarm about what will happen when the national eviction moratorium lapses next month.
Almost 6 million Americans say they are somewhat to very likely to lose their homes in the next two months:@shoptastic wrote:
That leaves one thing: Fed control of interest rates - i.e., keeping them low. That's the only way we can temporarily "manage" the debt, until those other forces kick in at some later date (and even then, it will likely require low rates for a while).
I think Mitch is ready and willing to bail out individual Americans with stimulus money, but the House stimulus that also includes bail-outs to certain states is not going to fly. .
I thought that going into this year's election, but as I explained earlier, I think the leverage is gone now for big stimulus. IF Congress is split, then I don't see it happening most likely.@1forum1 wrote:
It's a shame. As someone said,"It doesn't have to be that way." I think a rather big stimulus will happen,.
Nah, we just need the stock market to drop a modest 25% or a few large corporations to go insolvent and Congress will act ASAP like always.@Shop-et-al wrote:
A covid glossary might be helpful. ...
To quote properly, you have to take the "/" out of the first quote command, 1forum1. The "/" is used to signal the END of a quote.@1forum1 wrote:
I'm laughing. I can hardly wait to see your break down. That will be interesting. I do know that the Trump Organization and Kushner Companies got millions, and as someone might say, "Very quickly." I also know that some televangelist, for example Paula White, and other megachurches connected to the Unindicted Co-conspirator Individal 1, like the one that Herman Cain attended to see a Unindicted Co-conspirator Individual 1 rally, received hundreds of thousands and into the millions in stimulus, very quickly. Anyway, hope you have type to break it all down for us on your next post.
Not surprised with fraud and foreclosure king, Steven Mnuchin, helping run the PPP program.@ wrote:
WASHINGTON – More than half of the money from the Treasury Department’s coronavirus emergency fund for small businesses went to just 5% of the recipients, according to data on more than 5 million loans released by the government Tuesday evening in response to a Freedom of Information Act request and lawsuit.
Officials from the Treasury Department and the Small Business Administration have argued that the program primarily benefited smaller business because a vast majority of the loans ― more than 87% ― were for less than $150,000, as of August. But the new data show that more than half of the $522 billion in the same time frame had gone to bigger businesses, and only 28% of the money was distributed in amounts of under $150,000.
I think if you place yourself in the shoes of a restaurant owner or bar tender, then it's easy to see why COVID has been so disruptive. Whether it's mandated shutdowns or just people naturally not frequenting those places as much anymore, it's been hard to survive. Restaurants often have razor thin margins and they need to do business in high volume to make a profit. They have fixed rental costs usually and their food has to be used up immediately to prevent it from going bad.@Shop-et-al wrote:
Meanwhile, I did not apply for any benefits. I am neither richer nor poorer because of covid. I am not statistically significant, but I am an actual person who wonders about things such as why do some people have dramatic experiences while others carry on with minimal disruption?
I re-routed your post from my other thread, Shopetal. Non-farm payroll, which is released the first Friday of every month, is calculated by taking the sum of job losses plus job gains from the previous month. That it is a positive number is good news (a negative number means we lost more jobs last month than we gained). That it came in at half of what was expected is bad news. [www.cnbc.com]@Shop-et-al wrote:
According to Yahoo Finance, new jobs have been created. Their numbers fall short of the projected figures for the time frame.
1. Woot! There are new jobs.
2. Was the projected number spot on, too low, or too ambitious (even without the covid-19 factor)?
3. The economy can still support some new jobs.
Lower-wage workers' employment is still down ~20% relative to pre-pandemic levels.
Yeah, that's a blessing for your situation. I continue to pray that you'll be safe during this time! January and February are usually the coldest times.@Shop-et-al wrote:
And yet,,, my lower income opportunities are up. All i have to do is humble my little self and go to work. How many other people could be employed [even at a lesser pace than they were before] if they humbled themselves and went to work?
I'd challenge you to do a COL budget for a typical mid-sized American city (of 250,000 people or more) and then look at the statistics for how much the average American makes. 50% of working Americans make less than $30,000/year. 69% of Americans don't have $1,000 in savings. To have a roof over their heads and bills paid, many work multiple jobs, co-habitate with parents (the most adults are living with parents since the Great Depression), and go into debt.@Shop-et-al wrote:
Where I hail from, this is the situation: The people who paid cash and saved something survived the frequent layoffs and strikes. Now that work and industries are changing, the same principal applies. Some people are much better prepared than others for the financial effects of pandemic.
Yeah, when it's Main Street's fortunes involved, they can wait as long as they want (time matters for small businesses without financial support and a coming slowing economic COVID winter). When it's big businesses and wealthy interests at risk, it's "Get it done NOW!"@Shop-et-al wrote:
Meanwhile, the decision makers are still trying to hammer out the final legislation...
. . .The waiting and uncertainty have been partially related to Congress "teasing" stimulus over and over again. . .Definitely would hate to be a restaurant owner sitting there and wondering if it's getting done or not and have to make a binary choice: close down for good or stay open and hope for an economic rebound.@Shop-et-al wrote:
One thing that has never been clear is reasonableness. What is a reasonable amount of time to wait for a change? For how long should each owner, manager, and employee wait for stimulus money, the return of customers, or a resurrection of interest in their work environs? Shouldn't everyone feel and be free to make a change, even if that means to pick up work they would do in other circumstances, if this is what is needed to make money flow in their worlds?
Early on, probably not many. We had 30 million unemployed and 5 million job openings. But, I also think this misses the forest for the trees. Of course, lazy people and cheats exist. But, that doesn't mean we should punish the genuinely needy, because a few of these folks out there are gaming the system.@Shop-et-al wrote:
How many people chose the weekly fed money over jobs that they would prefer not to take?
Congress reached a deal Sunday on a $900 billion coronavirus relief package, a long-delayed effort to boost an American health-care system and economy buckling under the weight of the pandemic.
Congressional leaders announced the agreement on a coronavirus aid and full-year government spending bill after days of start-and-stop efforts to finish a deal. They have not yet released text of the more than $2 trillion legislation, which they hope to pass in the next day.
“At long last, we have the bipartisan breakthrough the country has needed,” Senate Majority Leader Mitch McConnell, R-Ky., said on the Senate floor Sunday.