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Post by Deleted on Mar 18, 2020 14:13:00 GMT -5
Republicans and Treasury Department are working on a $1 TRILLION dollar package for small businesses and most Americans.
In theory, assuming Democrats sign on (again, we aren’t discussing politics) we can expect $1,000 checks April 6 and May 18.
Nothing has been finalized, but talks are very heavy in the works.
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Post by Deleted on Mar 18, 2020 15:50:09 GMT -5
Sure, with those tough times people could use a break.
However, on completely apolitical note, we seem to be going only in direction of bigger deficits at all times. I hope one day it doesn't catch up with us with vengeance.
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Post by naagloshii on Mar 18, 2020 16:09:03 GMT -5
I think many won’t qualify for that 10000
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Post by ⓣⓡⓘⓒⓚⓨ48 on Mar 18, 2020 16:12:36 GMT -5
I think many won’t qualify for that 10000 you added a zero... me thinks  |
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Post by zombiewolf907 on Mar 18, 2020 17:11:12 GMT -5
I think almost everyone will qualify but with everything shut down where you spend it? I am not rich but have a decent retirement and wife still working. Wish there was a way to target those who get laid off and small businesses. They are the ones who need assistance. Now I would take a decked-out Ming! Though!!! Maybe Pixo will also provide a stimulus package!
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Post by Deleted on Mar 18, 2020 17:43:10 GMT -5
I think almost everyone will qualify but with everything shut down where you spend it? I am not rich but have a decent retirement and wife still working. Wish there was a way to target those who get laid off and small businesses. They are the ones who need assistance. Now I would take a decked-out Ming! Though!!! Maybe Pixo will also provide a stimulus package! From what I have gathered, they are basing it on people who are in the system already, using IRS/possibly SocSec info. The idea is using an income threshold. |
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Post by Replicant on Mar 18, 2020 17:48:52 GMT -5
Sure, with those tough times people could use a break. However, on completely apolitical note, we seem to be going only in direction of bigger deficits at all times. I hope one day it doesn't catch up with us with vengeance. I stopped including U.S. fiscal position as part of our annual economic outlook. Nobody cares. My clients ask about it occasionally. I tell them it won't matter in their life-time, but their kids are screwed. Most people are functionally "illiterate" when it comes to economics and finance, and there's no short-term incentive to being the adult in the room. Since both parties are in the "free stuff for everyone" camp, it should be a pretty good show while it lasts. |
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Post by Deleted on Mar 18, 2020 17:59:48 GMT -5
Sure, with those tough times people could use a break. However, on completely apolitical note, we seem to be going only in direction of bigger deficits at all times. I hope one day it doesn't catch up with us with vengeance. I stopped including U.S. fiscal position as part of our annual economic outlook. Nobody cares. My clients ask about it occasionally. I tell them it won't matter in their life-time, but their kids are screwed. Most people are functionally "illiterate" when it comes to economics and finance, and there's no short-term incentive to being the adult in the room. Since both parties are in the "free stuff for everyone" camp, it should be a pretty good show while it lasts. Agreed. I always remember talking to otherwise quite intelligent engineer once who said he doesn't understand all this talk about deficits and national debt because gov can always print more money. What is helping US is the fact that dollar is the world currency, makes borrowing less dangerous. But it doesn't have to last and there are some countries already pushing to replace dollar with something else. |
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Post by Overlordship on Mar 18, 2020 18:36:20 GMT -5
I think many won’t qualify for that 10000 you added a zero... me thinks Not a mistake. |
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Post by Replicant on Mar 18, 2020 21:26:52 GMT -5
I stopped including U.S. fiscal position as part of our annual economic outlook. Nobody cares. My clients ask about it occasionally. I tell them it won't matter in their life-time, but their kids are screwed. Most people are functionally "illiterate" when it comes to economics and finance, and there's no short-term incentive to being the adult in the room. Since both parties are in the "free stuff for everyone" camp, it should be a pretty good show while it lasts. Agreed. I always remember talking to otherwise quite intelligent engineer once who said he doesn't understand all this talk about deficits and national debt because gov can always print more money. What is helping US is the fact that dollar is the world currency, makes borrowing less dangerous. But it doesn't have to last and there are some countries already pushing to replace dollar with something else. There's no viable alternative to the U.S. dollar. That's the problem for those of us who care about fiscal responsibility. The dollar can take a ridiculous amount of abuse before the Euro looks like a viable replacement, and there aren't enough [insert your other favorite not-U.S. currency here] to handle the transaction load. Not sure if we're in Casey Jones territory or Hell in a bucket, but either way the Greatful Dead have us covered. |
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Post by anjian on Mar 19, 2020 0:31:44 GMT -5
Republicans and Treasury Department are working on a $1 TRILLION dollar package for small businesses and most Americans. In theory, assuming Democrats sign on (again, we aren’t discussing politics) we can expect $1,000 checks April 6 and May 18. Nothing has been finalized, but talks are very heavy in the works. Just make sure the money is not wasted on mobile games like this one. |
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Post by WattTron on Mar 19, 2020 3:33:27 GMT -5
OK, I would like to take a 400 million personal cut for myself.
You want to know what for?
It's my own business.
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Post by Deleted on Mar 19, 2020 7:42:57 GMT -5
Agreed. I always remember talking to otherwise quite intelligent engineer once who said he doesn't understand all this talk about deficits and national debt because gov can always print more money. What is helping US is the fact that dollar is the world currency, makes borrowing less dangerous. But it doesn't have to last and there are some countries already pushing to replace dollar with something else. There's no viable alternative to the U.S. dollar. That's the problem for those of us who care about fiscal responsibility. The dollar can take a ridiculous amount of abuse before the Euro looks like a viable replacement, and there aren't enough [insert your other favorite not-U.S. currency here] to handle the transaction load. Not sure if we're in Casey Jones territory or Hell in a bucket, but either way the Greatful Dead have us covered. Well, that is the point I was making: for now nobody can imagine dollar being replaced as world currency and foreign investors still keep buying US debt. But combination of factors can change that. It's a little bit like with the stock market right now: hardly anybody would have predicted back in January stable S&P index being down ~30% in just couple of months. But here we are. |
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Post by ⓣⓡⓘⓒⓚⓨ48 on Mar 19, 2020 8:18:28 GMT -5
you added a zero... me thinks Not a mistake. I figured... hence the winky face yellow dude.
We are living in "interesting times" for sure.
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Post by mechtout on Mar 19, 2020 9:08:51 GMT -5
Its a bandaid but hearing struggles from small businesses its not looking good
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Post by Replicant on Mar 19, 2020 11:03:37 GMT -5
There's no viable alternative to the U.S. dollar. That's the problem for those of us who care about fiscal responsibility. The dollar can take a ridiculous amount of abuse before the Euro looks like a viable replacement, and there aren't enough [insert your other favorite not-U.S. currency here] to handle the transaction load. Not sure if we're in Casey Jones territory or Hell in a bucket, but either way the Greatful Dead have us covered. Well, that is the point I was making: for now nobody can imagine dollar being replaced as world currency and foreign investors still keep buying US debt. But combination of factors can change that. It's a little bit like with the stock market right now: hardly anybody would have predicted back in January stable S&P index being down ~30% in just couple of months. But here we are. You would need another nation to develop the currency stock to handle the load and the legal infrastructure to give foreign governments confidence their property rights would be secure. Currently nations that could approach the former can't approach the latter, and those that have the later can't approach the former. Likewise, you'd need a currency event that undermined the value of the dollar. We're doing a pretty good job of telegraphing that last item with entitlement spending. If I were a hostile foreign government, I'd spend the next 20 years building up my respect-for-property-rights cred and my currency stock. The payoff (for them) would be generationally huge. |
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Post by Deleted on Mar 19, 2020 13:30:02 GMT -5
Well, that is the point I was making: for now nobody can imagine dollar being replaced as world currency and foreign investors still keep buying US debt. But combination of factors can change that. It's a little bit like with the stock market right now: hardly anybody would have predicted back in January stable S&P index being down ~30% in just couple of months. But here we are. You would need another nation to develop the currency stock to handle the load and the legal infrastructure to give foreign governments confidence their property rights would be secure. Currently nations that could approach the former can't approach the latter, and those that have the later can't approach the former. Likewise, you'd need a currency event that undermined the value of the dollar. We're doing a pretty good job of telegraphing that last item with entitlement spending. If I were a hostile foreign government, I'd spend the next 20 years building up my respect-for-property-rights cred and my currency stock. The payoff (for them) would be generationally huge. Right, I think the strength of US currency comes from three factors: strong economy, stable democracy (including independent judiciary and hence the respect for property rights you mentioned) and fiscal policies. I think US has been very strong on first two and not so much on the last, but given lack of better alternatives it's safe. For now. The reason why I think it's less certain that it will remain so is because I think stable democracy is less given than what many think. I'm not referring to the US here, but looking at some countries it's clearly possible for democracy to elect government with big popular support which then proceeds to undermine separation of powers for example, and thus basics of liberal democracy. US has strong democratic institutions but they are only as good as people elected/selected to run them. Lastly, that's a good point about what other governments should do to challenge US. Paradoxically, countries like Russia or China cannot adopt separation of powers, for example, to make their currency viable alternative to dollar. But if they did adopt more democratic govs then they wouldn't feel the need to challenge US. |
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Post by Replicant on Mar 19, 2020 15:57:24 GMT -5
The reason why I think it's less certain that it will remain so is because I think stable democracy is less given than what many think. I'm not referring to the US here, but looking at some countries it's clearly possible for democracy to elect government with big popular support which then proceeds to undermine separation of powers for example, and thus basics of liberal democracy. US has strong democratic institutions but they are only as good as people elected/selected to run them. The people elected/selected are a reflection of the people who did the electing. NBC aired commentary on Bloomberg's campaign with an 8-orders of magnitude error. No-one in the news room caught it. How many people actually know what an order of magnitude is? Some food for thought: The area I live in pretty much requires your income to be in the top 5% nationally just to make ends meet (e.g. pay the mortgage, grocery bill, transportation costs and utilities). There's a lot of community noise about how we need "affordable housing." There's one undeveloped lot that's about half an acre within city limits. One. Where's the "affordable housing" going to go? 1.3 mil gets you a 1,080 sqft shack built in the 70's, but you absolutely cannot build over two stories because the community is concerned about population density and the impact on schools (consistently ranked in the top 3% nationally). Did I mention the schools are seeing declining rolls? Apparently there aren't a lot of young families that can afford 1.5 million for a house. These are not stupid people. They are well educated, technologically savvy and cosmopolitan. ...and they have no concept. Avowed socialists took 45% percent of democratic primary voters in my county. Separation of powers? To the vast majority that's just an incantation meaning "you can't do what I don't want you to do." There's no understanding of the underlying philosophy behind it. Interesting times. |
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Post by Deleted on Mar 19, 2020 16:08:30 GMT -5
The reason why I think it's less certain that it will remain so is because I think stable democracy is less given than what many think. I'm not referring to the US here, but looking at some countries it's clearly possible for democracy to elect government with big popular support which then proceeds to undermine separation of powers for example, and thus basics of liberal democracy. US has strong democratic institutions but they are only as good as people elected/selected to run them. ...and they have no concept. Avowed socialists took 45% percent of democratic primary voters in my county. Separation of powers? To the vast majority that's just an incantation meaning "you can't do what I don't want you to do." There's no understanding of the underlying philosophy behind it. Right, that's why I'm more concerned about people currently in power rather than the "socialist". But I'm moving into politics, so this is where I'll drop off.. Good discussion, regards. |
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"Kill'em all."
