If social distancing lasts a year, the US will have zero hotels and zero airlines, that's why. Most of the very rich have a huge overhead. For instance, Vegas hotel owners are all extremely rich. How long do you think they can keep those massive casinos open with zero dollars in revenue? How many employees will be out jobs if they go under? People love to dis the rich like they are doing something wrong, but they supply a lot of people jobs.
Economic Impact of COVID19
- Thread starter HawkGold
- Start date
HawkGold
Well-Known Member
You like the koolaide..
Wait, you disagree with what I say? Which part?
HawkGold
Well-Known Member
My bad..about the rich. Mist money is tied up in 65 and older. They don't tend to spend money to generate velocity.... Changing hands. The rich tend to by property with little risk and hoard. Even Trump is like that. It's why they own the stock market and have insider trading.
New industries are seldom started by old money. Look at Musk. He takes huge risks. Gates now hoards and spends a small any on philanthropy as a percent and gets a huge tax benefit.
To get innovation the Govt needs to encourage risks but new laws are more about hoarding such as death taxes.
Its one of the reasons why the rich...keep getting richer.
I'm not sure how that has anything to do with what I said. I was talking about bailing out big businesses. If they don't get bailed out, they go under and everyone employed by them are out of work. Not to mention some of those businesses are mandatory for a functioning society. Like airlines and hotels. The owners of these companies have a lot of money,l. But their overhead is so big that their entire life savings would be gone soon and they would have to close anyway. Most people would just give up before they burned through their life savings. If all cruise ships go under, I life without them is fine. If every single hotel goes under, how do vacations work? Also millions are out of a job.
Wait a second!!! This bill has 450 billion dollars in it set aside for industries and businesses already. There doesnt have to be a specific clause or amendment for one particular area of commerce, real estate developers. That is ludicrous. At first McConnell only wanted to give 3 months of unemployment but the first vote failed because the Dems wanted more months for the general workers not the rich people.
The Rebubs or all of the Senate if you want to spread the blame also put in a provision that thie Fed Reserve and Treasury can willy nilly create 10 more bolstering payments of 400+ billion dollars to businesses.
And you saw that what most people wanted for fairness which is businesses who get money have to keep paying 90% of their workers and keep them on board was eventually taken out of the bill iirc because Mitch and his cohorts thought it too onerous. The whole meaning of the bill was to put most of the money in the hands of people losing their jobs and to keep people in their jobs. But at least 20% is no strings attached to businesses.
And already the White House and you know who are saying they are not going to work with any oversight from congress or any special council set up to watch these payments.
First of all, the no oversight part is ridiculous. Companies should have to tell the government what they need the money for and then prove that they used the money for those specific things. Secondly, I think you're wrong on the whole meaning of the bill. I think the meaning of the bill was to keep our way of living as close to normal as possible. If the government decides "screw the rich people" we end up without a lot of businesses this country needs with a huge unemployment rate. One last thing is while it's true that rich people own big businesses, technically there is a difference between the rich person and the business they own. The rich person clearly shouldn't receive a check. The business should. I get that if you don't own a business you might not understand the difference or belittle it, but the difference is there.
So what do you think of my premise that without bailouts, important companies will be no more. Do you agree with that? If so, how do you think the world would be without airlines and hotels? If you don't agree with it, how do you think those companies will survive without months upon months of huge overhead with no revenue?
eyekwah
Well-Known Member
I'm currently in McAllen TX and so far the CV has been limited, but Hildago county has a stay in place order with the exception of going to get groceries and medications. If you are out for those reasons you can stop at restaurants offering drive thru or curbside service. I was out today to get Tylenol and there was very little traffic. I stopped at Sam's Club for gasoline and paid a $1.49 a gallon. The Sam's parking area was about 1/2 full, earlier this week it was covered with cars and their were long lines to check out. On Friday I went to HEB, a big grocery chain in Texas, and it was well stocked after almost barren shelves a week ago. HEB Stores were only letting 10 people at a time into the store one week ago, but yesterday there were no lines and no wait. Things maybe starting to settle down.
The border crossings with Mexico have been closed for about 10 days now. The first case here was a young woman from Reynosa that flew back from Spain. She flew from Dallas to McAllen about one month ago. There are many people that come to the RGV to get dental work done across the border. Some were unable to get their dental work finished because the Border was closed. Many people across the border will be impacted economically by the closure. The policies put in place to halt the caravans from central America seem to be working. However fear of the US federal government by the illegals already here is a major concern. If the CV gets into one of the Colonialas it would be very bad.
Maybe others have a report about where they are living?
The border crossings with Mexico have been closed for about 10 days now. The first case here was a young woman from Reynosa that flew back from Spain. She flew from Dallas to McAllen about one month ago. There are many people that come to the RGV to get dental work done across the border. Some were unable to get their dental work finished because the Border was closed. Many people across the border will be impacted economically by the closure. The policies put in place to halt the caravans from central America seem to be working. However fear of the US federal government by the illegals already here is a major concern. If the CV gets into one of the Colonialas it would be very bad.
Maybe others have a report about where they are living?
As far as your premise I will first speak to the original idea pushed by many in Congress etc especially in the House that a portion of the money going to businesses would be with the stipulation they keep 90% of workers on their payrolls and pay them. There would also be 4 months of unemployment for the unemployed because State unemployment funds comes from businesses not just handouts. And finally there is this other 450 billion that is there to go to businesses. They do have rules for no CEO and top executive raises or unnecessary payouts and no stock buy backs.
So to your premise the companies have a huge amount of money going their way in the 450 billion and they also are going to get about the same amount of money that was supposed to go to their workers to keep them on payroll but I dont think they have to do that now and you know they wont.
And what do you say to the fact that after the end of 2017 Tax law changes or maybe some of it was tax giveaway changes, it is estimated that over 1 trillion dollars was used by companies to buy back their own stock. Maybe those companies should have just put their big tax handout into cash reserves, you know save it for a rainy day. But no they want to get rich with their stock and do very short term profits and cash in their pockets. IIRC it was a change in a law back in or around 1987 which allowed companies to buy back stock in this way.
I think companies should get their allotted money to keep employees on the payroll and if they get rid of people, they have to pay that amount back. I can't really speak on the whole stock buyback deal because I don't really understand it. I understand the premise of how it would be bad tho.
Impact on me, +/-
Probably lost $150,000 in John Deere stock value, more in others. Haven't sold, won't. Keep reinvesting dividends for no cost. When dead, someone else will get it I suppose. I have about $250,000 in cash if it keeps going down, will put in a buy order, or not.
I have all John Deere equipment, 3 tractors, mower, post hole digger, manure spreader, rake, but New Holland Haybine. No impact on value because I use it all, not interest in selling any of it. Need them for hay.
I now send out a meditation/sermon to the congregation I am serving on Sundays and Wednesday. This is done via e-mail or hard copy to the elderly who don't use computers.
I like this better in some ways. I don't have to drive and I don't have to listen to stupid life stories from other people coming out of church. We have an active prayer list, which keeps in touch, best we can.
Some "visionaries" from church say we should send out videos of the messages. Told them I wasn't interested. People can listen to Rev. Jim Bakker or thousands of other "attention whore pastors" who are filling the airwaves during this pandemic.
I might be left out of the "free money" because of income limitations. Even if I get little, I will be required to pay it back in taxes, isn't that how it works? But I am active on bidding on a Ruger Red Label 12 Gauge shotgun, on-line for the amount that I will "probably" get. If I get this "free" money I want to spend it in a patriotic way. I am also bidding on a Ruger Red Label 20 gauge which I really hope to get since it replaces a nice Ruger Red Label 20 gauge I sold about 20 years ago to pay off some debt. I was going to buy a new one but was surprised that they quit making them in 2015. So, it is the used market.
Many Americans are waiting in line to buy various weapons and ammunition, because of fear. This makes sense since they are emptying out prisons so the country is "safer." (You can't make that up) This hasn't affected me since I have about 50,000 rounds of ammunition, 120 long guns, 3 Black Semi-autos, 5 Glocks and several other pistols. I know how to shoot them, quite well, and so does my wife (well kind of).
The threat of death because of the China-virus does not loom large on me. I had Level III cancer in 1987, and survived, so far. So, come what may. Living on borrowed time, gracious years, so such things as a pandemic don't keep me up at night.
We have about two years worth of food, since I raise cattle and given canning, and two big gardens by the wife, etc. When that is gone and there is no more, I guess we will starve to death, eventually. Perhaps my cholesterol will drop during the process. Rev. Jim Bakker is selling large containers of Pinto Beans and Rice!
I do miss sports, but, actually, not that much. I enjoy sports, but in the end, they have no meaning or value.
I am surprised that the NCAA is cutting hundreds of millions of dollars to colleges, money earmarked for college tuition assistance. I thought it was "all about the kids." Probably more about salaries, positions, etc.
Pigs are all fighting for "their piece of the pie" in the taxpayer funded give away. Would we expect anything else?
The pandemic is bad, but one always wonders if it is as bad as the reporting says it is. Drama always sells. I have and will pray for all those who are fighting on the front lines and who are affected by the pandemic.
Writing from isolation...
Probably lost $150,000 in John Deere stock value, more in others. Haven't sold, won't. Keep reinvesting dividends for no cost. When dead, someone else will get it I suppose. I have about $250,000 in cash if it keeps going down, will put in a buy order, or not.
I have all John Deere equipment, 3 tractors, mower, post hole digger, manure spreader, rake, but New Holland Haybine. No impact on value because I use it all, not interest in selling any of it. Need them for hay.
I now send out a meditation/sermon to the congregation I am serving on Sundays and Wednesday. This is done via e-mail or hard copy to the elderly who don't use computers.
I like this better in some ways. I don't have to drive and I don't have to listen to stupid life stories from other people coming out of church. We have an active prayer list, which keeps in touch, best we can.
Some "visionaries" from church say we should send out videos of the messages. Told them I wasn't interested. People can listen to Rev. Jim Bakker or thousands of other "attention whore pastors" who are filling the airwaves during this pandemic.
I might be left out of the "free money" because of income limitations. Even if I get little, I will be required to pay it back in taxes, isn't that how it works? But I am active on bidding on a Ruger Red Label 12 Gauge shotgun, on-line for the amount that I will "probably" get. If I get this "free" money I want to spend it in a patriotic way. I am also bidding on a Ruger Red Label 20 gauge which I really hope to get since it replaces a nice Ruger Red Label 20 gauge I sold about 20 years ago to pay off some debt. I was going to buy a new one but was surprised that they quit making them in 2015. So, it is the used market.
Many Americans are waiting in line to buy various weapons and ammunition, because of fear. This makes sense since they are emptying out prisons so the country is "safer." (You can't make that up) This hasn't affected me since I have about 50,000 rounds of ammunition, 120 long guns, 3 Black Semi-autos, 5 Glocks and several other pistols. I know how to shoot them, quite well, and so does my wife (well kind of).
The threat of death because of the China-virus does not loom large on me. I had Level III cancer in 1987, and survived, so far. So, come what may. Living on borrowed time, gracious years, so such things as a pandemic don't keep me up at night.
We have about two years worth of food, since I raise cattle and given canning, and two big gardens by the wife, etc. When that is gone and there is no more, I guess we will starve to death, eventually. Perhaps my cholesterol will drop during the process. Rev. Jim Bakker is selling large containers of Pinto Beans and Rice!
I do miss sports, but, actually, not that much. I enjoy sports, but in the end, they have no meaning or value.
I am surprised that the NCAA is cutting hundreds of millions of dollars to colleges, money earmarked for college tuition assistance. I thought it was "all about the kids." Probably more about salaries, positions, etc.
Pigs are all fighting for "their piece of the pie" in the taxpayer funded give away. Would we expect anything else?
The pandemic is bad, but one always wonders if it is as bad as the reporting says it is. Drama always sells. I have and will pray for all those who are fighting on the front lines and who are affected by the pandemic.
Writing from isolation...
HawkGold
Well-Known Member
HawkGold
Well-Known Member
It's right in the Fed release...mgt bonuses are fine.
Feel better about what?
HawkGold
Well-Known Member
I have not counted the rounds exactly, but I have a bunch. Many of them are old shotgun shells in antique boxes purchased and collected over 35 years, 410, 28, 16, 12 Gauge, mostly 12. Many new shotgun shell offerings. Others are the standard fare ammunition of guns I own: .22, .223, 308, 30.06, .243, 45.70, 375 Holland and Holland and many .45, 9MM, 10MM and .44 Magnum for the pistols, mostly Glocks. Haven't made many bulk purchases for lower cost, but some. Usually buy on sale when I see some, either in person or on-line. I am a bird hunter: Ruffed Grouse, Pheasant, Duck, etc. I have shot two deer, but don't like killing them. When my boys come home, they shoot. I am not a mercenary nor do I care to kill animals much, but birds are for eating, not trophies. I have no desire to kill someone else, but I could, and would, if someone I love, or an innocent person was being attacked. There you have it in a world of no sports for now.
HawkGold
Well-Known Member
Asking with no judgement, do you consider yourself a patriot or just a gun/bird hunting enthusiast?
Does Iowa still have a decent pheasant population?
Yea, that's dumb then.
Really. I thought that kind of action was not allowed. oh well.
