Anyone else not happy about the "stimulus plan"?

[Djfan]

I see this as more debt that we can't service, and not enough to make it work for the average guy who is getting screwed. They buttered their own bread though. And put some cash out to people that they probably owed money to.

It's not a good thing, IMO.

 

[str8liner]

They are already licking their chops wanting to do it again...

 

[SteelerInLebanon]

I see this as more debt that we can't service, and not enough to make it work for the average guy who is getting screwed. They buttered their own bread though. And put some cash out to people that they probably owed money to.

It's not a good thing, IMO.

Not enough? The average worker who gets laid off during this is getting the stimulus check plus their unemployment with an additional $600 a week on top of that.

Yes I am concerned about the cost but I am more concerned about not doing anything. Tough situation and I am glad I am not the man in charge.


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[oneforthebus]

It would have been nice if the checks were more targeted to people who have actually lost their jobs but that would be very time consuming.

 

[Superman]

Not enough? The average worker who gets laid off during this is getting the stimulus check plus their unemployment with an additional $600 a week on top of that.

Yes I am concerned about the cost but I am more concerned about not doing anything. Tough situation and I am glad I am not the man in charge.


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ding ding ding
In Florida, your unemployment check can be as much as $250/per week. 250+600=850 per week. Or, $1700/ every two weeks (since most employed people are paid every two weeks). Some people not only get unemployment, but also a nice raise for being unemployed. Which brings us back to BommaTIme - why seek employment when you're getting $1700/every two weeks?

 

[SteelerInLebanon]

ding ding ding
In Florida, your unemployment check can be as much as $250/per week. 250+600=850 per week. Or, $1700/ every two weeks (since most employed people are paid every two weeks). Some people not only get unemployment, but also a nice raise for being unemployed. Which brings us back to BommaTIme - why seek employment when you're getting $1700/every two weeks?

When I was out of work last year briefly in Ohio my check, which they pay weekly here, was $425 before tax was taken out. Add another $600 to that and I would be doing better than I am on my training pay with my current company. Glad this whole thing delayed coming off training pay as I would be full commission and up schitts creek.


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[SteelerInLebanon]

It would have been nice if the checks were more targeted to people who have actually lost their jobs but that would be very time consuming.

I think that was the point of the extra $600 a week in unemployment.


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[deljzc]

We're borrowing the money at like 0% interest.

I still don't quite understand who is LOANING us the money to do this much spending. Who is buying the treasury notes at such low returns?

That's the "funny accounting" about all this debt spending. Same thing happened under Obama (which I complained about a bit). Obama worked with the fed to lower rates so much that when he borrowed $1 trillion and $1.4 trillion in back-to-back years to get us out of the bank bailout that we actually DIDN'T increase our yearly interest payments all that much. In other words, even though Obama borrowed like hell, the cost of the monthly mortgage payment didn't all change that much.

You can see "interest on the debt" isn't all that bad here:

https://www.thebalance.com/interest-on-the-national-debt-4119024

Part of the reason Trump is so upset at the fed is because Congress is spending too much and the fed isn't cooperating to keep the treasury rate lower (like they did with Obama), which Trump is taking issue with.

I mean this forecast for debt interest in 2020 is WAY before Corona Virus and us borrowing like crazy with probably 1-2% treasury notes.

 

[oneforthebus]

I think that was the point of the extra $600 a week in unemployment.


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Yep.

But there will be millions of people getting $1200 or $2400 checks whose income hasn't dropped at all. Some people who are probably making more money now than they ever have. I guess it's supposed to stimulate the economy but I don't think you can do that much with everything shut down. It's money that would be better spent helping the people who actually need it. However, sorting that out would take months.

 

[IndySteel]

I won't see any stimulus money. The fair thing to do would be to suspend or decrease income tax for 90 days. Those of us who continue to work and are keeping the economy from completely collapsing should get a year of not paying income tax.

 

[Spike]

We are all socialists now.

They are already putting together the next "stimulus pachage", bailouts is what they are. Its just money, we'll print more. 2T here, 5T there, its just a number

Airlines, travel related companies are going under, more bailouts for them, for sure. Half the plane fleets are being mothballed in the desert, hundreds of planes, soon to be thousands. The economy is suspended, in lockdown, who knows the future?

Another month of a complete shut down, businesses will be folding left and right, and a great many never, coming back. It is what it is.

The money changers are trying to keep the country from a total collapse. It's biblical, the famines, locusts and plague are here, Pharaoh is very worried now.

 

[Steeler Pride]

2,000,000,000,000 Stimulus Bill divided by the 2,000,000 lives that could have been lost if we had continued without the "shelter in place" equals $1,000,000 per life lost. How much is a human life worth...a million dollars apparently.

 

[Djfan]

We are all socialists now.

They are already putting together the next "stimulus pachage", bailouts is what they are. Its just money, we'll print more. 2T here, 5T there, its just a number

Airlines, travel related companies are going under, more bailouts for them, for sure. Half the plane fleets are being mothballed in the desert, hundreds of planes, soon to be thousands. The economy is suspended, in lockdown, who knows the future?

Another month of a complete shut down, businesses will be folding left and right, and a great many never, coming back. It is what it is.

The money changers are trying to keep the country from a total collapse. It's biblical, the famines, locusts and plague are here, Pharaoh is very worried now.

I have a buddy who is in the real estate lending business. He says to watch Quicken Loans closely. They may need bailout money soon. This is a slippery slope.

The difference between unemployment and bailout is that we already earned the unemployment. It is supposed to be banked in case we need it again. Bailout money is free (read: given now and paid back later at a much greater value).

I am not a socialist. This is why I don't like this. It's very different from government work projects like the TVA, or whatever.

 

[Vader]

I don't like it at all. Giving money to people that are still working and giving people that are already on unemployment more money is a waste of money. Also giving the Kennedy Center $25 million and them still laying off people is wrong. Now they get free money and the workers go draw MO money from unemployment + the $600 added money. It's just stupid.

 

[madinsomniac]

They should have done a 2000 payout per month during this lockdown to anyone laid off work because of this and offered 0% loans for businesses then eliminated the payroll tax for the year...

Everything else was superfluous nonsense

 

[madinsomniac]

The reason a payout is needed over unemployment is simply to discourage people continuing to work under the table jobs during this... a good chunk of people don’t qualify for unemployment and are taking jobs where they can get them right now... my neighbor is one of them... there are a metric ton of people who work undercthe table in this country... which is why income tax is bullshit...

 

[Steeltime]

Yes.

Our nation was already $1 trillion - repeat, TRILLION - in the hole on spending on an annual basis. If we drastically pared down the fat and pork and giveaways, reduced the salary of civilian Federal employees by 10%, made Fed employees pay a **** ton more for their "benefits" (a.k.a., **** paid for by the tax payer), and if the economy grew at 3.5% per year, we could have reached a kinda-sorta balanced budget by 2033.

We would have been $35 trillion in the hole, but what the hell.

Now? We will be $45 trillion in the hole by 2028 with no end in sight. We are going to be bankrupt with the disgusting amount of public spending. Public spending: A way to make idiots elected to office incredibly wealthy for doing NOTHING while killing the people who actually ******* DO SOMETHING to contribute to the economy.

 

[Djfan]

I don't like it at all. Giving money to people that are still working and giving people that are already on unemployment more money is a waste of money. Also giving the Kennedy Center $25 million and them still laying off people is wrong. Now they get free money and the workers go draw MO money from unemployment + the $600 added money. It's just stupid.

We need to go and find out how much money the Kennedy Center donates to the Democrats each year. that might explain it.

 

[Smash]

What if Trump is dismantling the unconstitutional Federal Reserve Bank and taking back the rightful powers of the U.S. Treasury? Before the Fed, the U.S had $0 debt and the power of a Gold standard.

When the Fed was rightly alarmed by the current dysfunction in the fixed-income markets, they felt they needed to act. This was the correct thought. But, to get the authority to stabilize these “private” markets, central bankers needed the Treasury to agree to nationalize (own) them so they could provide the funds to do it.

In effect, the Fed is giving the Treasury access to its printing press. This means that, in the extreme, the administration would be free to use its control, not the Fed’s control, of these SPVs to instruct the Fed to print more money so it could buy securities and hand out loans in an effort to ramp financial markets higher going into the election. Why stop there? Should Trump win re-election, he could try to use these SPVs to get those 10,000 Dow Jones points he feels the Fed has denied everyone.

https://finance.yahoo.com/news/feds...STSdteu-tflGW7p3ZtZMj_LhGp-0CHQMBoOShj0cQ8Js3

106 years of debt slavery by *again* unelected, faceless people.

 

[Steelworth]

I don't like it at all. Giving money to people that are still working and giving people that are already on unemployment more money is a waste of money. Also giving the Kennedy Center $25 million and them still laying off people is wrong. Now they get free money and the workers go draw MO money from unemployment + the $600 added money. It's just stupid.

Congress also got a cool $25 million dollar raise. ******* do-nothing blowhards.

 

[JMM]

I don't like the fact it was not voted on properly in the House. Makes you wonder what the heck was in the bill that was so bad that nobody wants to be attached to it.

 

[Spike]

Road trip!


Oh wait....



"Oil plummets to 17 year low, below $20 a barrel"

 

[wig]

The money changers are trying to keep the country from a total collapse. It's biblical, the famines, locusts and plague are here, Pharaoh is very worried now.

for a completely made-up health scare that in no way, shape or form constitutes this panic.

This lockdown makes NO SENSE.

I was talking with my wife yesterday and there are only 2 reasonable explanations.

1) whatever virus is floating around is MUCH MUCH worse than we've been told. It actually can and may kill 3/4 of the worlds population.

2) we are being groomed to see how much freedom and control we'll willingly waive in the face of a minor illness that kills a ridiculously small percentage of 80 year olds.

 

[madinsomniac]

for a completely made-up health scare that in no way, shape or form constitutes this panic.

This lockdown makes NO SENSE.

I was talking with my wife yesterday and there are only 2 reasonable explanations.

1) whatever virus is floating around is MUCH MUCH worse than we've been told. It actually can and may kill 3/4 of the worlds population.

2) we are being groomed to see how much freedom and control we'll willingly waive in the face of a minor illness that kills a ridiculously small percentage of 80 year olds.

There is a persistent rumor that the initial virus that hit in October or November was worse and the coronavirus was released to cover it up, however im more on board with the other conspiracy that the globalists, who have been losing pathetically to the nationalists worldwide, are seizing this to finally enact the old one world government they always wanted so they can abuse every one equally...

 

[madinsomniac]

Yes.

Our nation was already $1 trillion - repeat, TRILLION - in the hole on spending on an annual basis. If we drastically pared down the fat and pork and giveaways, reduced the salary of civilian Federal employees by 10%, made Fed employees pay a **** ton more for their "benefits" (a.k.a., **** paid for by the tax payer), and if the economy grew at 3.5% per year, we could have reached a kinda-sorta balanced budget by 2033.

We would have been $35 trillion in the hole, but what the hell.

Now? We will be $45 trillion in the hole by 2028 with no end in sight. We are going to be bankrupt with the disgusting amount of public spending. Public spending: A way to make idiots elected to office incredibly wealthy for doing NOTHING while killing the people who actually ******* DO SOMETHING to contribute to the economy.

The other grand conspiracy theory floating around for years was that we were running so high in debt that only one real plan made sense, run up a goant insurmountable debt, buy up all the gold and silver, and other commodities, then intentionally cause hyperinflation , crush the value of the dollar, and pay off the debt in commodities at fractions of a penny on the dollar

Basically the fact the fed os talking about federal investment in stocks and commodities is super scary