The Economic Stimulus

[Rufus T. Firefly]

That's interesting since the states are saying that was left out of the act and that the act currently under debate in congress is to correct that deficiency.

Seems to be a bit of a moving target.

[HONDO74]

Coronavirus: Congress passes $484bn economic relief bill
https://www.bbc.com/news/world-us-canada-52398980

The US House of Representatives has passed a new Covid-19 relief package totalling $484bn (£391bn), the fourth aid bill to clear Congress in response to the pandemic.

The legislation, approved by 388-5, devotes more money to a small business aid fund, hospitals and wider testing.

President Donald Trump has already said he will enact the bill, which passed the Senate unanimously on Tuesday.

[HONDO74]

Coronavirus: US unemployment claims hit 26.4 million amid virus
https://www.bbc.com/news/business-52398837

A further 4.4 million Americans sought unemployment benefits last week as the economic toll from the coronavirus pandemic continued to mount.

The new applications brought the total number of jobless claims since mid-March to 26.4 million.

That amounts to more than 15% of the US workforce.

[Rufus T. Firefly]

[HONDO74]

We can’t return to normal, because the normal we had was precisely the problem.

So this time we should let all the big companies go bankrupt. No need to save any of those jobs.

Good idea, the country needs a good dose of reality.......

[Rufus T. Firefly]

We can’t return to normal, because the normal we had was precisely the problem.

So this time we should let all the big companies go bankrupt. No need to save any of those jobs.

Some need a good shake up; some put themselves in a position to collapse with a push of a pencil or warm breeze; some were carrying so much debt that they were never going to shed it. Some are good and healthy.

It's called capitalism and the healthy and strong survive; Of course, we could save all the jobs and go over to socialism.....

Good idea, the country needs a good dose of reality.......

Or we can let all the small businesses die forever?

[HONDO74]

Or we can let all the small businesses die forever?

Is the money for businesses a loan or is the government giving it to them. Will the small business be able to recover enough to pay back the loans. I think it is wishful thinking on the peoples part that we will be able to open back up this year since there will be no approved vaccine this year or maybe next year.

The only people that are going to make out this year will be the bankruptcy lawyers. Unfortunately.

[E7]

It doesn't take Norman Einstein (a tribute to Joe Theisman there) to realize, NOTHING much is going to occur until COVID-19 is brought under control.

Then this country needs to become more balanced as a producer/consumer, because if it continues as it is we are screwed.

[robert.]

It's my understanding. those loans (sba) don't need to be paid back in full

[Rufus T. Firefly]

Or we can let all the small businesses die forever?

Is the money for businesses a loan or is the government giving it to them. Will the small business be able to recover enough to pay back the loans. I think it is wishful thinking on the peoples part that we will be able to open back up this year since there will be no approved vaccine this year or maybe next year.

Yup.

The only people that are going to make out this year will be the bankruptcy lawyers. Unfortunately.

Figure ~20-30% of retail and restaurants simply not re-opening and the rest struggling to survive at all.

In the meantime, you'll be able to get a tattoo in GA.

[healey36]

It's my understanding. those loans (sba) don't need to be paid back in full

The PPP (Payroll Protection Plan) "loans" convert to grants if used to meet payrolls. If used for other things, then they will need to be paid back, or at least that's how I understand it.

McConnell thinks it would be appropriate to let the states file for bankruptcy (something they can't do today). I'm okay with that, starting with Kentucky...

[Rufus T. Firefly]

McConnell thinks it would be appropriate to let the states file for bankruptcy (something they can't do today). I'm okay with that, starting with Kentucky...

[robert.]

McConnell thinks it would be appropriate to let the states file for bankruptcy (something they can't do today). I'm okay with that, starting with Kentucky...

I'm fine with that also. as long as every politician in that state leaves office.

[HONDO74]

Cuomo: 'New York State Is Basically Bankrupt'
https://www.newsmax.com/newsfront/cuomo ... id/960188/

New York Gov. Andrew Cuomo revealed the coronavirus outbreak has left his state “basically bankrupt.”

Cuomo made his remarks in a Thursday radio interview on WAMC.

Looks like New York will be first in line. How about a big hand for Cuomo.

[healey36]

Compared to the orangutan, Cuomo looks like the second coming.

Anybody here gotten their paper stabilization check yet? Anybody gotten their direct-deposit stabilization payment?