News Dow bouncing around -1000

[K1052]

Watching the carnage pile up locally the government needs to give zero interest loans to small and medium firms very soon. Yes, many will still have to remain shut down or at limited capacity for weeks or months but when this is over the speed of economic recovery will be far faster but they need cash to weather the storm. Also figure out a way to get landlords (residential and commercial) big and small to at least partially defer rent even if it means giving them tax cuts or whatever to get it done.

 

[[DHT]Osiris]

Watching the carnage pile up locally the government needs to give zero interest loans to small and medium firms very soon. Yes, many will still have to remain shut down or at limited capacity for weeks or months but when this is over the speed of economic recovery will be far faster but they need cash to weather the storm. Also figure out a way to get landlords (residential and commercial) big and small to at least partially defer rent even if it means giving them tax cuts or whatever to get it done.

Probably need to defer payments to mortgage loaners as well then, else you're screwing a whole pile of small-time renters like me.

 

[K1052]

Probably need to defer payments to mortgage loaners as well then, else you're screwing a whole pile of small-time renters like me.

Yes, this too.

 

[Jhhnn]

Call me Captain Obvious but my guess is a big chunk of that will be some sort of tax cut that will do fuck all for the lower class and those about to become unemployed, marginally help the middle class, and throw gobs of money at the top 10%.

Please. Make that the top .1%. It's Republicans.

 

[K1052]

Fed getting into short term commercial paper at low rates. $10B so far but I'd expect expansion soon.

 

[K1052]

IRS going to defer some tax payments for 90 days up to $300B total.

 

[K1052]

WH is on board with direct payments to individuals. Crazy times.

 

[darkswordsman17]

There is a lot of conflicting reporting right now. Some says a payroll tax is being pushed still and some says there is growing support for cash payments to individuals.

Whoa, might end up with a trial of guaranteed basic income, that'd be crazy. Seems like a prime situation to try it out.

Who am I kidding, it'll end up being payroll tax with free bulk (alternator size) block of government cheese. And then Republicans will demonize people for selling their blocks of cheese for iPhones and Escalades on Dubs.

 

[snoopy7548]

WH is on board with direct payments to individuals. Crazy times.

I'll believe it when I see it (without gotchas.)

 

[K1052]

I'll believe it when I see it (without gotchas.)

Well see the fine print. It's going to be means tested but that's not a surprise.

Even conceptually this is like traveling to another dimension for the GOP.

 

[zinfamous]

Can someone tell this fucknut to stop doing pressers during market hours!

he wants more printouts of his failure to sign

 

[herm0016]

Probably need to defer payments to mortgage loaners as well then, else you're screwing a whole pile of small-time renters like me.

I keep seeing these local petitions on facebook for governments to halt rent payments, and some asshole in Portland is giving his renters a free month.

I would be totally screwed if this happened, and then we would have 4 families, my 3 tenants and my family out on the street. I have 2 duplexes and we live in one of the units. I am willing to work with them to keep everyone housed and warm, but it still costs money to own the houses, people have this weird view of owners, that we are all rich and we spend their rent money of fancy things or something. no, we spend it on upkeep, and our mortgages, and taxes and... there is usually not much left for our time and trouble on a monthly basis. we are in it for the increase in value of the properties, and the equity.



anywho…

anyone notice the pattern on the volume? I think we can anticipate the high volume spikes. could be useful.

 

[vi edit]

We're fortunate that this is hitting in a relatively mild weather time of year. Most of the US isn't in a sub zero deep freeze where heating costs will be prohibitively expensive or on the flip side where it's unbearably hot and we have high cooling costs. So that helps. But the answer is somewhere in the middle where there is some sort of federal/state protection from eviction or prevention of utility shutoff for affected families while also getting assistance in the form of cold hard cash from Uncle Sam to every day joe to help keep afloat.

Not everyone is financially impacted by this. Hell, there's probably some households that end up saving money after this over. But there are millions in the service and hospitality industry that for sure are. Some where we have to find a middle ground and compassion to support those that really need it.

 

[glenn1]

I keep seeing these local petitions on facebook for governments to halt rent payments, and some asshole in Portland is giving his renters a free month.

I would be totally screwed if this happened, and then we would have 4 families, my 3 tenants and my family out on the street. I have 2 duplexes and we live in one of the units. I am willing to work with them to keep everyone housed and warm, but it still costs money to own the houses, people have this weird view of owners, that we are all rich and we spend their rent money of fancy things or something. no, we spend it on upkeep, and our mortgages, and taxes and... there is usually not much left for our time and trouble on a monthly basis. we are in it for the increase in value of the properties, and the equity.



anywho…

anyone notice the pattern on the volume? I think we can anticipate the high volume spikes. could be useful.

Your post can't be true. AOC and people on this forum say anyone like you or who has more than $400 in the bank because *gasp* we actually save some of our money is lighting cigars with $100 bills on our yachts. This is exactly how @Jhhnn sees you.

 

[herm0016]

Not everyone is financially impacted by this. Hell, there's probably some households that end up saving money after this over. But there are millions in the service and hospitality industry that for sure are. Some where we have to find a middle ground and compassion to support those that really need it.

true. and I agree with you, that this is going to be terrible and effect everyone. answers do not include screwing the people who own the houses though.

 

[zinfamous]

Your post can't be true. AOC and people on this forum say anyone like you or who has more than $400 in the bank because *gasp* we actually save some of our money is lighting cigars with $100 bills on our yachts. This is exactly how @Jhhnn sees you.

you guys aren't paying attention.

There is no rational call to "halt payments to landlords." The only thing that anyone with any salt is suggesting is to cover/incentivize mortgage payments to the banks.

No one--NO ONE--wants to ban landlords from enforcing rent on tenants. If you aren't understanding that from the rather clear, reasonable suggestions, then you need to settle down and get back to improving your literacy.

glenn...we already know you are lost cause when it comes to the simplest of information dissemination.

 

[herm0016]

Your post can't be true. AOC and people on this forum say anyone like you or who has more than $400 in the bank because *gasp* we actually save some of our money is lighting cigars with $100 bills on our yachts. This is exactly how @Jhhnn sees you.

its funny because AOC's husband's family is rich from being slumlords and holding real-estate.

 

[herm0016]

you guys aren't paying attention.

There is no rational call to "halt payments to landlords." The only thing that anyone with any salt is suggesting is to cover/incentivize mortgage payments to the banks.

No one--NO ONE--wants to ban landlords from enforcing rent on tenants. If you aren't understanding that from the rather clear, reasonable suggestions, then you need to settle down and get back to improving your literacy.

all the petitions and talk at the local level here include only a primary residence. also, the feds are talking about means tests for any help.

just because you think / say something does not make it true for everyone. anyway, we will see in time.
I doubt this kind of thing really goes anywhere, its just good to make people aware that their actions/views effect more than just themselves. same as the crazy hording. You may have 50 bottles of hand sanitizer, but if everyone had 5 it could mean less death and a shorter duration. the avg. American uses around 100 rolls of TP per year, which seems high, but whatever. People are out there buying 500 rolls because they are irrational and selfish.


no need to blow a vein Zim, also no need to call anyone who disagrees with you illiterate.

I have found that my more politically extreme friends are the ones not taking the virus seriously, and are only trying to make some advantage for their views left or right over this terrible crisis, while those around them are working together.

 

[dank69]

WH is on board with direct payments to individuals. Crazy times.

If Trump makes it rain there is a good chance he will be re-elected. Not saying it shouldn't be done, obviously, but be prepared to watch our electorate give him all the credit even though he is probably desperately searching for any alternative first.

 

[alien42]

the avg. American uses around 100 rolls of TP per year, which seems high, but whatever.

that's complete BS, why are you just making shit up?

the average American does not use a roll of TP every 3.65 days.

the bigger point is that when you spew such nonsense, nothing you say will be taken seriously.

 

[glenn1]

you guys aren't paying attention.

There is no rational call to "halt payments to landlords." The only thing that anyone with any salt is suggesting is to cover/incentivize mortgage payments to the banks.

No one--NO ONE--wants to ban landlords from enforcing rent on tenants. If you aren't understanding that from the rather clear, reasonable suggestions, then you need to settle down and get back to improving your literacy.

glenn...we already know you are lost cause when it comes to the simplest of information dissemination.

And I guess your aren't paying attention because others have mentioned the "rich" folks like @Jhhnn demonize aren't immune to this either. Basically you fail at the simplest of information understanding, like the difference between illiquid assets and current cash flow. Or why the most idiotic rulemaking of all time "Mark to Market" almost single-handedly created the second Great Depression and how folks like Elizabeth Warren would probably be eager to do it again. I guess you'll have to relearn the lesson that you don't get out of a crisis like this by giving trillions to the peons so they can buy more beer and cheetos. You need to short circuit the natural (and often forced, see the FASB159 example below) of everyone in the economy who has any capital whatsoever trying to go from fully invested to fully cash/liquid at the drop of a hat. Some of you are on the right track with thinking about a debt holiday (or debt jubilee) but can't seem to stop yourself from wanting to limit it to poor folks. The small fry peon with $5k of credit card debt isn't the risk, it's the small to midlevel capital debtholders multi-unit landlord like @herm0016 is where the critical need is. If they can't meet the note on their multi-unit properties they rent to others, the impact will be orders of magnitude worse than his tenants and their $5k Chase credit card debt. The @herm0016 folks are the single point of failure you most need to address and will probably stupidly try to exclude because of your class warrior mindset.

 

[ivwshane]

Your post can't be true. AOC and people on this forum say anyone like you or who has more than $400 in the bank because *gasp* we actually save some of our money is lighting cigars with $100 bills on our yachts. This is exactly how @Jhhnn sees you.

Do you ever make an honest argument?

 

[brycejones]

Do you ever make an honest argument?

No, glenn1 is like Stalin when it comes to killing the straw people.

 

[herm0016]

that's complete BS, why are you just making shit up?

the average American does not use a roll of TP every 3.65 days.

the bigger point is that when you spew such nonsense, nothing you say will be taken seriously.

damn hell I cant find the F-ing article now. I am seeing numbers anywhere between 50 and 400 rolls a year depending on source. 400 is obv. a stupid high number. I can see some using 100, and most people using 1.xx per week. remember, this would include not just your household usage, but usage in and out of your home. most seem to be quoting some kind of standard roll with no source, because most advertise as 2xroll! or whatever, I think 100 is probably right on target.

I forgot that because I may not agree with someone, that I need to source every ounce of info in my posts. my bad. I did not make it up. I'm an engineer, I don't make shit up. pun intended.

 

[fskimospy]

If Trump makes it rain there is a good chance he will be re-elected. Not saying it shouldn't be done, obviously, but be prepared to watch our electorate give him all the credit even though he is probably desperately searching for any alternative first.

I think that Trump working with Congress to make it rain will probably help him keep the election competitive as opposed to being totally blown out but there's little reason to think this sort of fiscal stimulus would result in what you're saying. It's still not going to be nearly big enough to fill the hole we're probably looking at here. As for the electorate giving him credit for it they should give him credit for doing good things.

I love how this board is filled with people who think if any time Trump isn't totally incompetent he's going to cruise to re-election. Trump is unpopular and his unpopularity seems largely fixed, nothing seems to move it much one way or the other. Now it's not impossible that could change but we should probably view claims that him doing something is going to make him cruise to re-election skeptically considering how nothing else has moved the needle on him much.