The Nation's Financial Condition

[Brooklyn]

Yes, a record unemployment rate of 23.8% is something for Republicans to be proud of. By the way, how's that national debt that you Republicans used to bemoan going laong?


https://fortune.com/2020/05/28/us-unemp ... ob-losses/

[youthathletics]

Are you like 9 or 10 years old....with this stuff? That's like blaming the cigar for the fishy smell that Bill Clinton is Holding.

[Peter Brown]

Are you like 9 or 10 years old....with this stuff? That's like blaming the cigar for the fishy smell that Bill Clinton is Holding.

If Democrats controlled all three seats of the federal government, I kind of feel we'd be that cigar, but with the smell.

[a fan]

This thread seems really quiet...anyone know why?

https://www.marketwatch.com/story/the-n ... =home-page

https://www.investors.com/market-trend/ ... cord-high/

Wow, 'Trump' really stinks. America stinks! Amirite?

America gets better every second while some endlessly bemoan her faults. You boys are missing out on the best country ever known to man in your manic quest to be perma-woke!

So you're thrilled that Big Government had to bail out the supposedly "free market" Corporate America for the second time in not even ten years, are ya?

Pete. You and I need to have several evenings over beer and oysters, so we can work through your economic beliefs.

Because what you THINK you believe, and what you ACTUALLY believe, are two entirely different things.....

[Peter Brown]

This thread seems really quiet...anyone know why?

https://www.marketwatch.com/story/the-n ... =home-page

https://www.investors.com/market-trend/ ... cord-high/

Wow, 'Trump' really stinks. America stinks! Amirite?

America gets better every second while some endlessly bemoan her faults. You boys are missing out on the best country ever known to man in your manic quest to be perma-woke!

So you're thrilled that Big Government had to bail out the supposedly "free market" Corporate America for the second time in not even ten years, are ya?

Pete. You and I need to have several evenings over beer and oysters, so we can work through your economic beliefs.

Because what you THINK you believe, and what you ACTUALLY believe, are two entirely different things.....

Happy to do so! Except no oysters. Yuck.

Whoever wins the dinner table debate pays! We’ll need court approved neutral listeners to vote.

I’ll only be truly happy if on the day I die I learn something new. So my ears are always open!

[a fan]

Happy to do so! Except no oysters. Yuck.

Dude. No oysters? I think we've finally found your problem.

Whoever wins the dinner table debate pays! We’ll need court approved neutral listeners to vote.

You have a wife? She'll do just fine.

I'd be delighted to take your wager....and happily pay if I come out on the wrong end....

[CU88]

Stupid people don't understand how a credit card works, and don't care when someone else is on the hook for the "good times spending".

[Typical Lax Dad]

Stupid people don't understand how a credit card works, and don't care when someone else is on the hook for the "good times spending".

Stupid is a good word. I am slowly disengaging with stupid people.

[youthathletics]

Stupid people don't understand how a credit card works, and don't care when someone else is on the hook for the "good times spending".

Stupid is a good word. I am slowly disengaging with stupid people.

So you two are upset at afan and others that were saying the government must send cash now when this all started?

[a fan]

So you two are upset at afan and others that were saying the government must send cash now when this all started?

No, of course not. TLD and CU88 are just fine with a large centralized government.

Pete is claiming that he's not---he has told us that the government is the enemy, and can't get anything right, and that the free market is best. He wants minimal government.

Get the problem yet? Understand why it's hilarious that Pete is touting the Stock Market and multinational corporations.... which just got over a trillion in handouts and tax breaks from the government, instead of being allowed to fail?

If the Big Bad government didn't intervene, and, as CU88 implied---break out the credit card? The stock market would be in tatters.

And Pete doesn't get that. Do you? Do you get it, YA?

[CU88]

So you two are upset at afan and others that were saying the government must send cash now when this all started?

No, of course not. TLD and CU88 are just fine with a large centralized government.

Pete is claiming that he's not---he has told us that the government is the enemy, and can't get anything right, and that the free market is best. He wants minimal government.

Get the problem yet? Understand why it's hilarious that Pete is touting the Stock Market and multinational corporations.... which just got over a trillion in handouts and tax breaks from the government, instead of being allowed to fail?

If the Big Bad government didn't intervene, and, as CU88 implied---break out the credit care? The stock market would be in tatters.

And Pete doesn't get that. Do you? Do you get it, YA?

+1

[a fan]

Some outstanding news. Sounds like both Houses of Congress have figured out that trying to get reelected when unemployment is hovering at 20% ain't all that great of an idea. Bravo to both of them...and Trump will sign this instantly, of course.

The bill as previously written, was pointless for restaurants in particular. This clears the way to save both restaurants, and the commercial real estate sector.....

The bill, passed by unanimous consent, would relax rules under the $670 billion Paycheck Protection Program to give borrowers more time to spend the money and use it on a broader set of expenses while still qualifying to have the loans forgiven — a key feature offered in exchange for employers maintaining payrolls.

There's still over a hundred billion in funds in this program.....now businesses can take this money without getting screwed.

https://www.politico.com/news/2020/06/0 ... RH-9w8tqUs

[Peter Brown]

So you two are upset at afan and others that were saying the government must send cash now when this all started?

No, of course not. TLD and CU88 are just fine with a large centralized government.

Pete is claiming that he's not---he has told us that the government is the enemy, and can't get anything right, and that the free market is best. He wants minimal government.

Get the problem yet? Understand why it's hilarious that Pete is touting the Stock Market and multinational corporations.... which just got over a trillion in handouts and tax breaks from the government, instead of being allowed to fail?

If the Big Bad government didn't intervene, and, as CU88 implied---break out the credit card? The stock market would be in tatters.

And Pete doesn't get that. Do you? Do you get it, YA?

This is incredibly one-dimensional analysis. The stock market has rallied strictly on the back of the fed printing dollars? Hmmmm.

No company is adding value I gather; it's strictly the 'credit card effect'. Might want to inform all engineers, inventors, management, workers, and scientists that their work isn't valuable. Do you ever wonder why investors buy dollars if it isn't a decent storage of value? What backs that non-falling dollar, a fan? Who backs the dollar, a fan? (you're gonna say 'the gubmint', but you might want to ask yourself: who backs that government...now how the hades do them people pay them tax dollars!)

On the back of that note, yes, gold is rising (though not at the rate of the market, implying risk and inflation are less than meets the eye) as well as bitcoin (more interesting, as bitcoin seems to be a decent hedge against the dollar).

In any event, when the fear porn peddlers scream at you that the sky is falling, it's not; you'll always miss opportunities listening to the doom and gloom crowd. And analyses like these are way too complicated for this board and for me...I leave it to the markets to sort out the truth, hence why the market is always correct even when it's not.

[a fan]

This is incredibly one-dimensional analysis. The stock market has rallied strictly on the back of the fed printing dollars? Hmmmm.

How is it one dimensional?

You're gloating at how well the stock market is doing AFTER trillions in Federal Government bailouts, Pete.

We have, on record, what that market looked like BEFORE the bailouts, Pete. What did they look like then?

They looked horrible. That is my point. Big government bailouts saved the market you are touting. I have no clue why you want to pretend like a massive bailout is just no big deal, and just a footnote.

[youthathletics]

You gotta spend money to make money.

[holmes435]

You gotta spend money to make money.

We lose money on every sale, but we make up for it in volume

[CU88]

U.S. unemployment is expected to be around 20 percent in Friday’s jobs report.

The U.S. government’s employment survey for May will be released at 8:30 a.m. Eastern time. The job losses are expected to be far less than those in April — but that is small consolation.

Economists surveyed by FactSet expect the report to show that employers cut 8.5 million jobs in May, down from more than 20 million in April, and that the unemployment rate hit 19.8 percent, the highest level since the Great Depression.

Many economists expect that May will be the nadir for the job market, and that unemployment will begin to ease as states reopen and businesses call employees back to work. But it will take far longer for the economy to climb out of the hole than it did to fall into it.

Perhaps the most troubling sign for the recovery is evidence that job losses have spread beyond travel, hospitality and other sectors that were directly affected by the pandemic.

[CU88]

All of the Fed spending on airlines is just kicking the can down the road, come this Fall there will be bankruptcies and lay-offs. Right before the Nov Election.

https://www.cnn.com/2020/05/10/business ... index.html

Some of the biggest carriers will dissolve.

[CU88]

U.S. unemployment is expected to be around 20 percent in Friday’s jobs report.

The U.S. government’s employment survey for May will be released at 8:30 a.m. Eastern time. The job losses are expected to be far less than those in April — but that is small consolation.

Economists surveyed by FactSet expect the report to show that employers cut 8.5 million jobs in May, down from more than 20 million in April, and that the unemployment rate hit 19.8 percent, the highest level since the Great Depression.

Many economists expect that May will be the nadir for the job market, and that unemployment will begin to ease as states reopen and businesses call employees back to work. But it will take far longer for the economy to climb out of the hole than it did to fall into it.

Perhaps the most troubling sign for the recovery is evidence that job losses have spread beyond travel, hospitality and other sectors that were directly affected by the pandemic.

WOW, GREAT NEWS!


Business

Unemployment rate drops to 13 percent, as the economy began to lose jobs at a slower pace.

[youthathletics]

All of the Fed spending on airlines is just kicking the can down the road, come this Fall there will be bankruptcies and lay-offs. Right before the Nov Election.

https://www.cnn.com/2020/05/10/business ... index.html

Some of the biggest carriers will dissolve.

What is your end game? Do you want to see carriers dwindle, and then become a monopoly of a select few, driving prices up?