The Nation's Financial Condition

[youthathletics]

If we add up all of the initial claims filed since the coronavirus recession began, more than 30 million people — or nearly 19% of the total U.S. labor force — have filed for unemployment claims over the past month and a half.

NEARLY 20% OF US LABOR FORCE IS UNEMPLOYED!

No single week prior to March 21 had ever seen even 1 million initial claims since 1967, the earliest year that data is available from the Federal Reserve.

MAGA

Wonder why?

[a fan]

Because Trump and Congress are too stupid to handle the bailouts properly?

[youthathletics]

Because Trump and Congress are too stupid to handle the bailouts properly?

Maybe, or it is as simple as when you are out work and there is no place to go, you file for unemployment because you know its gonna be awhile.

[Typical Lax Dad]

I just heard that companies that have received PPP loans plan to lay-off employees anyway. We will see what becomes of it.

[a fan]

Maybe, or it is as simple as when you are out work and there is no place to go, you file for unemployment because you know its gonna be awhile.

Well, yes.

This is why I wrote back in March that they need to cut big checks NOW, BEFORE all the damage starts to snowball.

So back to what I wrote: unemployment is 20%+ and rising because Trump and Congress screwed up the bailouts. They CHOSE to let this happen.

[Typical Lax Dad]

Maybe, or it is as simple as when you are out work and there is no place to go, you file for unemployment because you know its gonna be awhile.

Well, yes.

This is why I wrote back in March that they need to cut big checks NOW, BEFORE all the damage starts to snowball.

So back to what I wrote: unemployment is 20%+ and rising because Trump and Congress screwed up the bailouts. They CHOSE to let this happen.

No it is Fauci's fault.

[youthathletics]

Maybe, or it is as simple as when you are out work and there is no place to go, you file for unemployment because you know its gonna be awhile.

Well, yes.

This is why I wrote back in March that they need to cut big checks NOW, BEFORE all the damage starts to snowball.

So back to what I wrote: unemployment is 20%+ and rising because Trump and Congress screwed up the bailouts. They CHOSE to let this happen.

Well, yes.

But how did anyone know for how long, 1 month, 2,6,12? If they provided 6 months of relief, well, then they'd be sure to either keep us locked in for 6 or possibly pay it back...or do you think they'd just be nice and say....heck, just keep that extra cash...we don't need it.

[a fan]

Cut one check per month. Simple.

Unfortunately, because we keep gutting our government services, we're unable to get a simple check into a citizen's hands in a timely fashion.

It took Canada 72 hours.


As for the "extra cash", for easily 70% of the population, that money would simply go right back into the economy as it is spent immediately...which is the point.

[Typical Lax Dad]

Cut one check per month. Simple.

Unfortunately, because we keep gutting our government services, we're unable to get a simple check into a citizen's hands in a timely fashion.

It took Canada 72 hours.


As for the "extra cash", for easily 70% of the population, that money would simply go right back into the economy as it is spent immediately...which is the point.

In some European countries, the workforce stays on payroll and government cuts checks right to the company to reimburse them. That keeps the economy from seizing up.

[Peter Brown]

Best month for S&P since 1987.

https://www.bloomberg.com/news/articles ... rkets-wrap

[RedFromMI]

Best month for S&P since 1987.

https://www.bloomberg.com/news/articles ... rkets-wrap

Lots of liquidity right now with free money. Not sure that works long term with the huge challenges ahead.

[youthathletics]

Cut one check per month. Simple.

Unfortunately, because we keep gutting our government services, we're unable to get a simple check into a citizen's hands in a timely fashion.
It took Canada 72 hours.

Curious, what do you specifically mean by the contrasting countries methods. I thought I heard the administration wanted it to work that way, but there were so many variances in electronic pay methods. I wonder if Canada's method is much more streamlines.

Additionally, it may also reveal, as we already knew, that many people do not pay taxes and therefore do not have an electronic trail with the feds. This website may have also helped solve that issue as people are in more need.

[a fan]

That's just my frustration of Congress treating Government like it's a toy for the last 40 years...and thinking that cutting funding is cute. Like we don't need government to work well. It's a cultural thing for us....we have lost the crew-cut wearing, boring as hell bureaucratic Congressmen of the 50's-70's that made sure our government departments were properly funded and operating.

https://www.washingtonpost.com/business ... nt-delays/

[CU77]

That's just my frustration of Congress treating Government like it's a toy for the last 40 years...and thinking that cutting funding is cute.

It's not Congress that did this, it's REPUBLICANS in Congress.

It was Ronald Reagan who started attacking the "government should work" mindset with his oh-so-cute line that the scariest thing you could ever hear was "I'm from the government and I'm here to help". Ha ha, what a knee slapper! That Ronnie, what a card! Then we had Grover Norquist who wanted to shrink government down until it could be drowned in a bathtub. Guess what, the Republicans did it! And now the government is drowned: totally incapable of responding to a true crisis.

Meanwhile, for four decades, the Democrats have been fighting to make government work, all the while facing the staunch opposition of the Republicans.

And here we are, with the Orange Clown Prince at the helm and his doofus son-in-law in charge of everything. And the debt grown by a trillion dollars BEFORE the crisis hit.

Oh, those Republicans! Such a great act! We're going to pay and pay and pay to see it over and over again.

[a fan]

And the debt grown by a trillion dollars BEFORE the crisis hit

$3 Trillion, not $1 Trillion.

[Peter Brown]

That's just my frustration of Congress treating Government like it's a toy for the last 40 years...and thinking that cutting funding is cute.

It's not Congress that did this, it's REPUBLICANS in Congress.

It was Ronald Reagan who started attacking the "government should work" mindset with his oh-so-cute line that the scariest thing you could ever hear was "I'm from the government and I'm here to help". Ha ha, what a knee slapper! That Ronnie, what a card! Then we had Grover Norquist who wanted to shrink government down until it could be drowned in a bathtub. Guess what, the Republicans did it! And now the government is drowned: totally incapable of responding to a true crisis.

Meanwhile, for four decades, the Democrats have been fighting to make government work, all the while facing the staunch opposition of the Republicans.

And here we are, with the Orange Clown Prince at the helm and his doofus son-in-law in charge of everything. And the debt grown by a trillion dollars BEFORE the crisis hit.

Oh, those Republicans! Such a great act! We're going to pay and pay and pay to see it over and over again.

What unregurgitated nonsense. Since 1955, the House has been controlled by Republicans only 20 years total (and most of those were hardly Tea Party types). 45 years to Femocrats. What was your squad doing all that time, playing Yahtzee?

[RedFromMI]

That's just my frustration of Congress treating Government like it's a toy for the last 40 years...and thinking that cutting funding is cute.

It's not Congress that did this, it's REPUBLICANS in Congress.

It was Ronald Reagan who started attacking the "government should work" mindset with his oh-so-cute line that the scariest thing you could ever hear was "I'm from the government and I'm here to help". Ha ha, what a knee slapper! That Ronnie, what a card! Then we had Grover Norquist who wanted to shrink government down until it could be drowned in a bathtub. Guess what, the Republicans did it! And now the government is drowned: totally incapable of responding to a true crisis.

Meanwhile, for four decades, the Democrats have been fighting to make government work, all the while facing the staunch opposition of the Republicans.

And here we are, with the Orange Clown Prince at the helm and his doofus son-in-law in charge of everything. And the debt grown by a trillion dollars BEFORE the crisis hit.

Oh, those Republicans! Such a great act! We're going to pay and pay and pay to see it over and over again.

What unregurgitated nonsense. Since 1955, the House has been controlled by Republicans only 20 years total (and most of those were hardly Tea Party types). 45 years to Femocrats. What was your squad doing all that time, playing Yahtzee?

The nonsense is your answer. One - 40 years ago only goes back to 1980. And there is both a House and Senate - latter with a filibuster, and a President who can veto.

Since 1981, when Reagan became President: House D control from 1981 to 1995 (14 years), R control from 1995 to 2007 (12 years), D from 2007 to 2011 (4 years), R from 2011 to 2019 (8 years) and D since then (1.3 years). 19.3 years D to 20 R.

Senate: R 1981 to 1987 (6 years), D 1987 to 1995 (8 years), R 1995 to 2007 (12 years), D 2007 to 2015 (8 years), R 2015-2020 (5.3 years). 16 years D to 23.3 R.

Presidency: R 1991 to 1993 (12 years), D 1993-2001 (8 years), R 2001 to 2009 (8 years), D 2009-2017 (8 years), and R 2017 to 2020 (3.3 years). 16 years D vs. 23.3 years R.

All three together: 2001 to 2007 R (GW Bush), 2009 to 2011 D (Obama), and 2017 to 2019 R (Trump). 10 years R vs. 2 years D.

Yes - you can lay this one more on the Rs than the Ds.

[njbill]

Best month for S&P since 1987.

https://www.bloomberg.com/news/articles ... rkets-wrap

Still down over 14% from its high two and a half months ago. But better than its low? Yeah.

[DocBarrister]

That's just my frustration of Congress treating Government like it's a toy for the last 40 years...and thinking that cutting funding is cute.

It's not Congress that did this, it's REPUBLICANS in Congress.

It was Ronald Reagan who started attacking the "government should work" mindset with his oh-so-cute line that the scariest thing you could ever hear was "I'm from the government and I'm here to help". Ha ha, what a knee slapper! That Ronnie, what a card! Then we had Grover Norquist who wanted to shrink government down until it could be drowned in a bathtub. Guess what, the Republicans did it! And now the government is drowned: totally incapable of responding to a true crisis.

Meanwhile, for four decades, the Democrats have been fighting to make government work, all the while facing the staunch opposition of the Republicans.

And here we are, with the Orange Clown Prince at the helm and his doofus son-in-law in charge of everything. And the debt grown by a trillion dollars BEFORE the crisis hit.

Oh, those Republicans! Such a great act! We're going to pay and pay and pay to see it over and over again.

^^^^ + a Gazillion (yes, with a capital “G”)

DocBarrister

[Kismet]

Neiman Marcus
J Crew
JC Penney

First of many retailers to declare Chapter 11 bankruptcy this week