Stimulus Bill , ok, but who will pay the Bill

[Dtail]

Yup if there is a prolonged mass loss of jobs, then the real estate market will be next.
The combination of all of this feels worse than 2008, unless there could be some true development of drugs to lessen the symptoms sooner than later.

[atmsmshr]

Quote:

Originally Posted by RetiredAt55.5 This is one time I'm ok with raiding the piggy bank. The house is burning down, we have to put out the fire. What are our other choices? Risk a complete economic meltdown that could last for years? What would that end up costing us? 20% or more unemployment means a lot less revenue and all the unemployment funds would get exhausted. Then what? Not to mention a lot less money going into the SSA coffers but the same amount coming out. That 2034 date would have to be moved up for sure. I will say that giving loans to big businesses sounds good to me, rather than no strings attached money.

Agreed.

At least the independent Federal Reserve has been injecting trillions of dollars into the national economy (which in turn is being lapped up by the rest of the world). Meanwhile, congress members cannot find the doorknob to the bathroom. They passed an $8 billion dollar package a few weeks ago, even though this crisis was covered in the news starting in January. When they finally do get around to giving hardest hit Americans a paltry $1,200 in April THREE MONTHS AFTER THE START OF THIS WORLD CRISIS, they will be breaking their own arms patting themselves on the back.

Now imagine what those countries without the benefit of a world reserve currency or good health care system are facing.

Buckle up - its gonna get ugly out there.

[Amethyst]

Evidently a great many people are afraid of anarchy, chaos, home invasions...guns and ammo are getting as scarce in some stores as TP.

https://www.12news.com/article/news/...9-3867de57a94e

[gwraigty]

Quote:

Originally Posted by Fermion I am a engineer, not worker in one of the service industries which will be losing jobs left and right. Maybe I could work on the next generation ventilators. Being upset at somebody getting a job is a bit like me being mad you sold off your stocks and helped cause the market to drop.

You're comparing apples to oranges. Not the same thing at all. I shouldn't have to explain it.

[dd564]

No one is paying for it.

It's not like any of us are going to get taxed at a higher rate where we're paying a substantial portion.

This is free money now for the promise of paying a tiny portion down the road.

It's the main reason our economy grows. Debt, debt, debt.

[Clone]

They will not dare tax you, nor me! They will have to tax that person there- behind that tree!

[dd564]

Quote:

Originally Posted by Clone They will not dare tax you, nor me! They will have to tax that person there- behind that tree!

Our taxes might tick up or tick down, but it's hardly like it's a direct response to this.
Taxes go up and down with every administration.

People complain far too much about taxes as if it really matters.

[Markola]

1) Corporations cry and lobby for massive tax cuts so that they can create jobs, driving up the federal deficit and debt.
2). Corporations instead spend tax savings on executive compensation, stock buybacks and dividends.
3). A pandemic or other shock hits and corporations are found to have no cash reserves to weather it.
4) Congress acts to shore up corporations, picking winners and losers, driving up the federal deficit and debt.
5) Corporations are saved, start earning money again.
6). See #1.