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Old 06-07-2020, 11:52 AM   #541
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Businesses around here can't seem to hire anybody as they stores and eateries are going pretty much 50% to full blast.

A friend of mine owns several Burger Kings and a mexican restaurant and told me today that he can't get his employees who had to be laid off to come back. It's nuts.

I am a small business owner and I have the same problem. The reason: California provides $160 a week for UI. Federal government add another $600 a week. $760 times 52 weeks = $39,520. There is no incentive since this is more than I can pay them. When the $600 a week federal benefit stops in August, they will probably return to work. I have to struggle without them. Now Congress is considering extending the federal benefit to January 2021!!!
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Old 06-07-2020, 12:48 PM   #542
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Given last week's jobs data was 'misrepresented', won't be surprising if market turns down again next week. The economy still sucks afterall and the impact hasn't been fully realized yet.
"Given"? Seriously? Whether or not it's someday proven to be true, currently this type of comment comes across as a tinfoil hat conspiracy [mod edit]
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Old 06-07-2020, 01:11 PM   #543
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I am a small business owner and I have the same problem. The reason: California provides $160 a week for UI. Federal government add another $600 a week. $760 times 52 weeks = $39,520. There is no incentive since this is more than I can pay them. When the $600 a week federal benefit stops in August, they will probably return to work. I have to struggle without them. Now Congress is considering extending the federal benefit to January 2021!!!
It won't be extended. Sure it gave people a little extra while unemployed but no way the senate extends it.
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Old 06-07-2020, 02:12 PM   #544
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It won't be extended. Sure it gave people a little extra while unemployed but no way the senate extends it.
Yeah, more likely to provide monies to go back to work.
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Old 06-07-2020, 02:32 PM   #545
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Yeah, more likely to provide monies to go back to work.
That is exactly what they are talking about. What society has to bribe people to go back to work?
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Old 06-07-2020, 02:40 PM   #546
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What society has to bribe people to go back to work?
The same one who earlier made it more lucrative to stay at home.
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Old 06-07-2020, 02:42 PM   #547
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Yes, Idaho offering bonus to return to work. https://www.ktvb.com/article/news/he...e-8559a8c08476
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Old 06-07-2020, 02:56 PM   #548
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This will not be the popular opinion here, but I would agree April and May were the bottom of the economic cycle...March was the bottom of the 'covid 19' market bottom.


The testing has consistently shown that multitudes of people have been exposed, have had minor symptoms, or were simply asymptomatic. The fatality/mortality rate has shrunken by so much (due to the denominator increasing) over the past month, that the current projection is similar to the fatality rate of the flu. If/when there is a 'second wave', it likely won't even show up on the radar. The more tests performed, the better the survival rate is proving to be.
strong support level @ 23,000 so we could official say goodbye to DOW 18,000.
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Old 06-07-2020, 02:57 PM   #549
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Yeah, more likely to provide monies to go back to work.
Idaho is doing that.
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Old 06-07-2020, 03:40 PM   #550
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That is exactly what they are talking about. What society has to bribe people to go back to work?
A dysfunctional one.
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Old 06-07-2020, 03:59 PM   #551
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With the feds 600$ and the states unemployment check a week, most all these people are making more not working then working. I know a few that are making ~ 6000$ a month not working. Most will ride that out till money dries up then get serious about working again.
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Old 06-07-2020, 05:14 PM   #552
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With the feds 600$ and the states unemployment check a week, most all these people are making more not working then working. I know a few that are making ~ 6000$ a month not working. Most will ride that out till money dries up then get serious about working again.
So they feel confident that they can get those type jobs back so easily when they wish to?
I would think there would be lots of competition for 30k type jobs.
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Old 06-07-2020, 05:31 PM   #553
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I can't answer your question on confidence or competition but I do know that for a fact that two I know are doing it. These two nevah made that kind of money in there life per month. One of the men is my neighbor and rules are to look for work each week etc.. He calls people that own businesses and he knows they aren't hiring but he has contact with them so he has proof of looking for work. Not right but I would bet there is millions doing that gig. Ride it till it is dry baby..
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Old 06-07-2020, 05:57 PM   #554
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I can't answer your question on confidence or competition but I do know that for a fact that two I know are doing it. These two nevah made that kind of money in there life per month. One of the men is my neighbor and rules are to look for work each week etc.. He calls people that own businesses and he knows they aren't hiring but he has contact with them so he has proof of looking for work. Not right but I would bet there is millions doing that gig. Ride it till it is dry baby..
"I keep applying to be a dancer at the strip club. I can't help that they won't hire me."

Millions paid not to work. Millions more paid via ppp when there is nothing for them to do. This country is like the ussr. Ample reason to bid equities up beyond the most ridiculous bubble ever seen.
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Old 06-07-2020, 06:06 PM   #555
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strong support level @ 23,000 so we could official say goodbye to DOW 18,000.
I agree
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Old 06-08-2020, 04:08 AM   #556
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strong support level @ 23,000 so we could official say goodbye to DOW 18,000.
This would be technical analysis, "support level 23,000", yada, yada, yada....meaning less to me. It still amazes me how many so called technicians try to glean useful information from past market levels or movements etc. You can do any number of complex math processes on short term data like FFT's and find weak signals that most of the time have no useful value in predicting future prices. Many claim that there is a weak correlation between future price moments and short term momentum. I have never read any papers or research that is convincing enough to make a meaningful difference in juicing portfolio returns. Having a portfolio that is consistent with your personal financial situation should enable one to view short term price movements as don't cares.
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Old 06-08-2020, 05:55 AM   #557
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Do you think Dow 18,000 was the bottom?
Old 06-08-2020, 06:17 AM   #558
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Do you think Dow 18,000 was the bottom?

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With the feds 600$ and the states unemployment check a week, most all these people are making more not working then working. I know a few that are making ~ 6000$ a month not working. Most will ride that out till money dries up then get serious about working again.


And why not? Corporate leaders do anything for a buck, including seeking and taking every form of government subsidy and bailout. Meanwhile, they offload as much basic life support as they can get away with, starting with healthcare, onto the taxpayers to handle for them. Corporate leaders and their favored politicians like to delude themselves in the belief that they are “free market capitalists” and their reliance on endless government crutches as “maximizing shareholder value.” Someone above said the U.S. is like the USSR. It’s clearly not. Rather, it is, thankfully, more like the social democracies of Europe. All the government supports kicking in during this crisis are necessary to keep the economy functioning, ultimately by soothing unemployed people so that they don’t chop the heads off of CEOs and politicians and stake them on bridges. The difference is, the Europeans are more honest about what they call this system, social democracy. No one would want to live in an actual capitalist system and, if we did, it would not last very long. These are the very times that business owners ought to be grateful to the taxpayers for filling in the many gaps, services and failures of the market system that allows their Burger Kings to exist and continue vs. becoming charbroiled, smoldering ruins.
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Old 06-08-2020, 06:33 AM   #559
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I have a 75 year old friend that works an occasional gig with a national testing company. He has been "laid off" because the spring test sessions were largely cancelled. He's collecting unemployment + the $600/week. He does have to apply for jobs and he's been called back on some of them. Not sure how he finesses not accepting some of the positions he's been offered. Very nice supplement to his pension and social security.
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Old 06-08-2020, 06:55 AM   #560
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And why not? Corporate leaders do anything for a buck, including seeking and taking every form of government subsidy and bailout. Meanwhile, they offload as much basic life support as they can get away, starting with healthcare, with onto the taxpayers to handle for them. Corporate leaders and their favored politicians like to delude themselves in the belief that they are “free market capitalists” and their reliance on endless government crutches as “maximizing shareholder value.” Someone above said the U.S. is like the USSR. It’s clearly not. Rather, it is, thankfully, more like the social democracies of Europe. All the government supports kicking in during this crisis are necessary to keep the economy functioning, ultimately by soothing unemployed people so that they don’t chop the heads off of CEOs and politicians and stake them on bridges. The difference is, the Europeans are more honest about what they call this system, social democracy. No one would want to live in an actual capitalist system and, if we did, it would not last very long.
Yep, exactly why not it is legal.
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