you can add all the common sense you want, and even mandate it, but if you don't let the businesses open in the first place you're just guaranteeing an outcome.
Let me simplify: the only way to avoid a recession/depression, or exit it quickly, is to get the economy moving again. Period.
To do that, yes, we are ABSOLUTELY going to have to enforce some common sense measures about HOW we do that. What that looks like and how it will be done is still being discussed at every level. Regardless of what it looks like though, the first part MUST happen.
You CANNOT avoid or get out of a depression by sitting idle. You can ONLY do it by getting businesses going and money circulating.
I agree that you have to get it going. And the way we got out of the last one was by printing A LOT of money. That is how this one needs to be handled. You can't just bail out the rich and thumb your nose at the working class when then staying afloat is the difference between recession and depression.
Yeah! Then we can all eat ice cream and wait it out!
You got a problem bailing out the working class? Or just a snide remark for me? Ice cream licker.
money for public TV and radio, money for the Kennedy center (who took that money and then laid off everyone the very next day), $25 million to the House for salaries salaries and expenses, $75 million for National Endowment for the Arts, $75 million for National Endowment for the Humanities.
Additionally, the mere attempt to get added provisions that would mandate early voting, curb airlines’ carbon emissions, require corporate boards to report diversity levels, or require any business receiving aid to pay a $15 minimum wage were all utter BS and had absolutely NOTHING to do with COVID relief.
Does bailing out wall street and billionaires have to do with COVID relief? And more tax cuts for the rich?
Bailing out wall street and billionaires? If you man some of our larger businses like the Airlines. Do you really want to let these big business go under. Last I heard they hire quite a few people too. Cuts for the rich? Sam old liberal BS.
Tax cuts:
Senate Republicans slipped a tax break for wealthy real estate investors into the $2 trillion coronavirus stimulus package
And yes the majority of all this stimulus money went to prop up the investment class. Wall Street and the 1%ers. Just facts they don't disclose over on Fox News.
So how many years in a row should we keep handing them bailouts?
That isn't what all of you were saying when Obama bailed out the auto industry and they all had to pay it back. What happened?
Obama was a idiot. ( still is ) Would you agree this Pandemic is un presented?
I think it has presented. But it is unprecedented in our lifetimes. (phonics much?) And Obama's fingernails were smarter than Trump. I might not have agreed with everything Obama did but he damn sure wasn't an idiot like Trump. After you go get your disinfectant shot we can debate that.
Chicago Tribune blasts Illinois Senate's 'rotten' request for $41.6B federal bailout as 'shameless'
The editorial board of the Chicago Tribune has repeatedly slammed the Illinois Senate's request for a whopping $41.6 billion federal bailout as the state's financial troubles continue to grow amid the coronavirus outbreak.
"Let’s stipulate that Don Harmon, rookie president of the Illinois Senate, laid a rotten egg with his recent letter asking members of Congress to give Illinois a $40.6 billion bequest. Assorted politicians and pundits have scorned Harmon’s inclusion of a $10 billion pension bailout, as if a sudden pandemic created a pension crisis that, in fact, Harmon and his fellow Springfield lawmakers spent decades creating," the editorial board began a piece on Friday. "We called Harmon’s request shameless and dishonest. His 'ask' was roundly criticized and, we would bet, part of the reason Senate Majority Leader Mitch McConnell rejected the idea of state bailouts in a recent radio interview."
The Tribune editorial board agreed with McConnell that states should solve the problems they created and added that "taxpayers across the country should not be responsible for Illinois’ financial mismanagement and particularly its unfunded pension liabilities."
"It also helped expose Illinois Democrats’ agenda for 2020. While asking for a federal bailout, they have shown no movement toward cutting spending or removing from the November ballot a constitutional amendment that eventually will mean higher income taxes for millions of Illinois taxpayers," the board elaborated.
"What is beyond galling is using the coronavirus as an excuse," the board wrote on Sunday. "Even by this state’s low standards, asking federal taxpayers from California to North Carolina, from North Dakota to Texas -- farmers, small business owners, teachers, nurses, bus drivers, bartenders- to help dig Illinois out of its pre-coronavirus, self-inflicted, financial hellhole is astonishingly brazen. Every member of Congress should carefully scrutinize pleas from states whose unbalanced budgets, embarrassing credit ratings and vastly underfunded pension systems predated virus outbreak."
Well, another 3.8 million people filed for unemployment, leaving us with a grand total of 30.3 million people unemployed in the last 6 weeks, which completely wipes out the 22 million jobs we gained since the Great Recession.
And a lot of those people won’t be getting their jobs back. All businesses needed was a reason to accelerate their moves to more automation, and they got it thanks to COVID-19.
“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
3.8 million, filed for unemployment, this week, won't affect you, effects me.
1 out of 10 people in the USA filed for unemployment since January, < is that a fair statement?
How will this effect me pearsonally? Not sure. Cleveland Browns stadium, when I was in it and really full, real real full, the highest announced attendance, (they'd always announce it) 73,000 usually, 76,000+ one time, and I'm telling ya, it was like swimming in people. everywhere.
So we will fill it up, fill it to the brim with unemployed people, people who have filed for unemployment in the USA, (Since January, or, in the last 90+ days) We'll fill it 100 times dangit.
Where we going to put those 100 Cleveland Browns stadiums full of people, with no jobs,
I don't know, we'll put em somewhere far from me, won't effect me. um kay, there's another 100 stadiums, just as many a stadium a stadium a stadium a stadium waiting, and they are also out of work, Just since January 25, 35 40, just swimming in people, where we going to put this 100, is it going to effect me yet
that's 200 Cleveland Browns stadiums of unemployed filed with the government, since January,
ehh, lets just shove the first 100 stadiums full on the east coast, and the 2nd 100 stadiums full on the west coast,
It's not that there are 200 filled to the brim Cleveland Browns stadiums full of people who filed for unemployment in the USA since January.
It's not that,
It's that there are 394.7 stadiums,
Filled to the brim, 76K, Cleveland Browns stadium, Since January.
THREE HUNDRED, NINETY,
and still 4.7 stadiums waiting in line, unemployed, not producing,
It's not going to, it's not going to effect the economy is it?
We're not going to have crowds somewhere, of people with like minds, to deal with are we? 2008 didn't change things either?
ehh sure, chicken little, chicken little, sky is falling, no worries, this will all be done in 2 weeks
“To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public.”
The 3.8 million filing for unemployment this week brings the total unemployment filings in the USA since COVID to 30,000,000 plus. Divide that by the seats in Cleveland Browns stadium; and 300 million the approx: population of the USA, 326m.
Whats coming will NOT be a Recession, it will be a Depression, and one of epic proportions.
What many don't understand and what I have been trying to tell poeple is the economy will NOT be the same after this. We have had things shut down since around March 10th, and are not going to probably be fully re-opened again till end of May or early June. Thats almost 3 months of shutdown.
What folks ar enot understand is that the same number of "Economic Inputs and outputs" have changed DRASTICALLY sincew we shut things down.
For example, Company B always bought 100,000 widgets from Company A every week, but after the lockdown Company B no longer exists to buy widgets from Company A. This is going to be a :common theme" when we come out of this.
I fully expect between 12-17 million layoffs after the country is re-opened. The Federal Reserve warned out government to expect a 22% contraction to the economy...22% is a lot...like a TON...your talking millions of jobs.
32% unemployment is unheard of...the Great Depression was only 24%....the protections put in place after the Great Depression were NOT desinged to handle a situation like this. The Federal Reserve has pretty much said it "can't" just print money our way out of this one, it can't just proper everything up.
The Stock Market lost 12 trillion early on in a matter of days, the market has continued to lose, and 1st quarter earning reports hurt it even more. We are now looking at probably an awful 2nd quarter too.
The Federal Reserve and the Govt now have no choice when they re-open except to sit back and let the market correct. They do not have the 40 trillion dollars necessary to "Quantitative Ease" our way out of this one. Every day our economy was closed cost us a lot of money. Money that was used to fund businesses, fund government, fund education, public works projects, etc.
We are all in for one hell of a ride...we are all going to know very soon what our grandparents went through in the 1920s. The number of house foreclosures and peoples kicked out of their homes will hit record highs like nothing ever seen in the history of this nation.
Either we start another long protracted war with someone to jump start our economy, or we are looking at 10 years of economic misery...not much in way of choices.
Shoulda shut down sports and crowds, but I'm not on board with shoulda shuda shut down restaurants, barber shops, it probably all came down to bars, bars= crowds and drunk, and someone probably said, if we say no bars, restaurants will just try to be bars, bars will try to be restaurants, and policing it won't be possible. Then, shutting down all the restaurants, then they shut down something like kohls, and bridal shops, that doesn't make sense, you don't have to spend time in there anymore than carry out.
They've so messed up now, May or June is a pipe-dream,
if they went full force now, with these new rules, they couldn't open 80% by August, and since they are dragging their feet, it'll be November-Next May timeline, by then it might not even matter, nothing left to open.
Can Deshaun Watson play better for the Browns, than Baker Mayfield would have? ... Now the Games count.
The only thing that will work is the one thing they are avoiding. You want to save the economy, bail out the working class. UBI. People will spend that money back into the economy almost immediately, especially within a depression. This would also allow businesses trying to stay open be able to retain critical employees on reduced schedules or promising rehire at some point in the near future.
I've read more than one article calling this a two year pandemic and asserting that two years is the minimum time we could expect to pass before returning to anything resembling the old normal. Working people can't manage two years of economic devastation regardless of Trumps cheerleading. The majority of businesses will not survive that atmosphere. BUT money from the bottom up will keep everything moving and reduce the impact by years, maybe decades.
Everyone knows that our economy is driven by consumer spending. Until of course the time comes to put the money in the hands of those doing the spending. All of a sudden they revert to the disproven theory of the top down economic rhetoric.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
GOOD NEWS! This will frost Trump's ass. Bezos now richer.
Amazon posts $75bn first-quarter revenues but expects to spend $4bn in Covid-19 costs
- Earnings in first three months equivalent to $33m an hour - Company says it will spend on PPE, cleaning and higher wages
Amazon emerged as one of the big winners of the coronavirus pandemic on Thursday, announcing it had revenues of $75.4bn in the first three months of the year – over $33m an hour.
The boom in sales, 26% higher than the same time last year, came at a cost as profit fell 29% from a year earlier to $2.5bn. And the company said there was more spending to come.
Jeff Bezos, Amazon’s founder, said the company’s shareholders should “take a seat” because the company planned to spend $4bn or more in the next three months on coronavirus-related expenses, including getting products to customers and keeping employees safe.
Bezos said: “This includes investments in personal protective equipment, enhanced cleaning of our facilities, less efficient process paths that better allow for effective social distancing, higher wages for hourly teams, and hundreds of millions to develop our own Covid-19 testing capabilities.”
The $4bn spend will be equal to Amazon’s entire profit for the next quarter, and its shares sank on the news.
Amazon’s net sales rose to $46bn for the first quarter, up from $35.8bn for the same period last year.
The company also benefitted from a $10.3bn boost from Amazon Web Services, its web hosting service, which counts Netflix among its clients as well as the World Health Organization.
Other retailers, including Macy’s and Nieman Marcus, have laid off thousands of employees and are struggling to stay in business. Amazon, meanwhile, has been hiring at a furious pace to keep up with demand from customers stuck at home thanks to quarantine orders across the US. In the past two months it has announced plans to take on another 175,000 employees.
The boom in sales has further added to Bezos’s enormous wealth. Already the world’s richest man, Bezos has seen his fortune swell by $13bn this month to $145bn, as Amazon’s share price hit new highs. He is the biggest winner among a number of billionaires who have added $308bn to their wealth amid the crisis.
The lockdown has created a situation not unlike the one Amazon experiences on Black Friday, the annual pre-Christmas shopping bonanza, and its own annual Prime Day sale, said US investment bank Cowen. It wrote: “Amazon has seen an ‘enormous increase in demand’ as shoppers are forced to stay home, essentially creating an extended Prime Day/Black Friday type of situation.”
While Amazon’s soaring sales have boosted its fortunes, workers at Amazon warehouses and its Whole Foods supermarket chain have protested that the company has not done enough to protect them from the coronavirus. Protests are planned at some of its sites on Friday.
Derrick Palmer, an Amazon employee at the JFK8 warehouse in Staten Island, New York, who has worked at Amazon for over four years, said: “Right now, Amazon workers are very depressed. We feel like it’s either stay home and let bills pile up or go to work and possibly get sick.”
It looks like he's planning to finally do right by employees and be more responsible during the pandemic. Time will tell.
ALSO the only credit Trump gets for this windfall in profits is negative credit! lmao. smh. So many times he has targeted Bezos and Amazon, yet America turned to them during the emergency shut down... #Karma
[quote=Ballpeen]I actually don't disagree in principal.
He turns it on President Trump and says Governors don't have the right to govern their states....I disagree with that.
We do need to support those who need the support, be it citizens or business.
We do need to open things up. All governments depend on people working, paying taxes. It's where they get their money to operate and provide services.
All people need their trash collected, and in the end, the trash man needs to get paid. They
Well, don't you think that Trump deserves to have it landed on him.. I mean, threatening to stop Federal Funding to Michigan is they push for mail in voting? Isn't that Blackmail? He does stuff like that all the time. That's just one recent example.
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.” Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe." Damanshot
He turns it on President Trump and says Governors don't have the right to govern their states....I disagree with that.
We do need to support those who need the support, be it citizens or business.
We do need to open things up. All governments depend on people working, paying taxes. It's where they get their money to operate and provide services.
All people need their trash collected, and in the end, the trash man needs to get paid. They have employees to pay and landfill fees to pay.
Well, don't you think that Trump deserves to have it landed on him.. I mean, threatening to stop Federal Funding to Michigan is they push for mail in voting? Isn't that Blackmail? He does stuff like that all the time. That's just one recent example.
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.” Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe." Damanshot
Trump already said he takes no responsibility. He's only responsible for threatening and firing people who refuse to do everything he wants and agree with everything he says.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
He turns it on President Trump and says Governors don't have the right to govern their states....I disagree with that.
We do need to support those who need the support, be it citizens or business.
We do need to open things up. All governments depend on people working, paying taxes. It's where they get their money to operate and provide services.
All people need their trash collected, and in the end, the trash man needs to get paid. They have employees to pay and landfill fees to pay.
Well, don't you think that Trump deserves to have it landed on him.. I mean, threatening to stop Federal Funding to Michigan is they push for mail in voting? Isn't that Blackmail? He does stuff like that all the time. That's just one recent example.
No Daman, that is just politics.
If everybody had like minds, we would never learn.
He turns it on President Trump and says Governors don't have the right to govern their states....I disagree with that.
We do need to support those who need the support, be it citizens or business.
We do need to open things up. All governments depend on people working, paying taxes. It's where they get their money to operate and provide services.
All people need their trash collected, and in the end, the trash man needs to get paid. They have employees to pay and landfill fees to pay.
Well, don't you think that Trump deserves to have it landed on him.. I mean, threatening to stop Federal Funding to Michigan is they push for mail in voting? Isn't that Blackmail? He does stuff like that all the time. That's just one recent example.
No Daman, that is just politics.
No peen it isn’t politics. 100,000 dead American’s and millions unemployed On his watch while trump Ignores US citizens and goes golfing with his deplorable supporters. Pffft trump.
A life is not important except in the impact it has on other lives. – Jackie Robinson
This type of politics goes beyond anything this nation has ever seen. There's a growing list of IG's, the only thing that keeps politicians accountable, you can look at to see this.
Intoducing for The Cleveland Browns, Quarterback Deshawn "The Predator" Watson. He will also be the one to choose your next head coach.
He turns it on President Trump and says Governors don't have the right to govern their states....I disagree with that.
We do need to support those who need the support, be it citizens or business.
We do need to open things up. All governments depend on people working, paying taxes. It's where they get their money to operate and provide services.
All people need their trash collected, and in the end, the trash man needs to get paid. They have employees to pay and landfill fees to pay.
Well, don't you think that Trump deserves to have it landed on him.. I mean, threatening to stop Federal Funding to Michigan is they push for mail in voting? Isn't that Blackmail? He does stuff like that all the time. That's just one recent example.
No Daman, that is just politics.
No peen it isn’t politics. 100,000 dead American’s and millions unemployed On his watch while trump Ignores US citizens and goes golfing with his deplorable supporters. Pffft trump.
I really take offence you are somehow blaming President Trump and conservatives for this. Stop.
I get it, you don't like President Trump. I can deal with that. I get it, you don't agree with conservatives, just like I don't agree with your thinking, but to try to pin 100,000 deaths on the President or me is unjust, and uncalled for.
There are lines we don't need to cross. Stop crossing the line.
Think before you type.
If everybody had like minds, we would never learn.
He turns it on President Trump and says Governors don't have the right to govern their states....I disagree with that.
We do need to support those who need the support, be it citizens or business.
We do need to open things up. All governments depend on people working, paying taxes. It's where they get their money to operate and provide services.
All people need their trash collected, and in the end, the trash man needs to get paid. They have employees to pay and landfill fees to pay.
Well, don't you think that Trump deserves to have it landed on him.. I mean, threatening to stop Federal Funding to Michigan is they push for mail in voting? Isn't that Blackmail? He does stuff like that all the time. That's just one recent example.
No Daman, that is just politics.
No peen it isn’t politics. 100,000 dead American’s and millions unemployed On his watch while trump Ignores US citizens and goes golfing with his deplorable supporters. Pffft trump.
I really take offence you are somehow blaming President Trump and conservatives for this. Stop.
I get it, you don't like President Trump. I can deal with that. I get it, you don't agree with conservatives, just like I don't agree with your thinking, but to try to pin 100,000 deaths on the President or me is unjust
Too bad.......You can’t deal with the fact that I don’t like trump. You can’t except the fact I don’t like his supporters either. Because you don’t understand why I don’t like them.
And yes trump, his cronies, and his supporters are responsible for everything that has happened in the USA since this Virus showed up on our shores. They ignored the situation for two months, And then they fought this war by sending troops to the front lines unprotected and now refuse to pay them combat pay.
Deplorable people do the most deplorable things. Enjoy the second and third wave bro, because it’s on the way with what trump and his supporters are doing.
A life is not important except in the impact it has on other lives. – Jackie Robinson
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