The US government should bail them out... and take ownership of them commiserate with the amount paid out.
The Dems weren't included in the creating the bill. And you should be glad that the Dems won't give the corrupt President a half trillion dollar slush fund. I mean I would expect you to be against that - the GOP even wants to keep it secret who would get the money! Come on, you support that????
Trump is so damn predictable. The one chance to expand all of this was for the media to praise Trump and kiss his ass for handling the COVID pandemic. The media didn’t and Trump tweeted about it like a spiteful teenager breaking up with his girlfriend. I will say this... if he withdraws the quarantine and the death rate increases, he and the Republicans are screwed... the Democrats will have control of the WH and the Senate and the House and the American people will be more open to a radical shift to the left.
There definitely should be strings attached to a bailout and it should not be done in secret like the Trump admin is asking for.
Yeah, it seems like a way to further hurt is re-election chances. But I don't think Trump gets information from a variety of sources, so he probably has no clue. The thing about Trump's base is that they believed him when he told them it was a hoax and not to buy into it. Now that he's saying something else, they feel like others are getting their input and that Trump is just going along. They've been conditioned to not believe the news, science, or those are educated. Trump doing a 180 mid-course won't reverse that conditioning for them.
I really don't know. There are a LOT of people who are prepared to sacrifice 1M+ to keep their jobs. I asked my business partner flat out that question and he said yes, even if meant his own parents.
Love or hate Liz Warren she has been so right about the biggest risk in our economy right now which is personal debt. Businesses can lose their revenue stream and that of course affects hourly workers (who don't necessarily lose their long term value), but if workers have their debt under better control, we are much much more able to handle situations like this, and recessions where the consumer spending shrinks, but we don't have all of this unmanageable debt tanking the actual economy like it did in 2008 with bundled garbage mortgage loans. What makes the coronavirus so damn scary economically is if workers are out of work for 15 days (pay cycle) already millions of Americans are going to be put in a position where they cannot make payments on their debt. We can handle time periods of low consumer spending. Best Buy and Target can bounce back. The banks cannot handle 30% of their loans defaulting, and the government cannot afford to bail them out again and again.
Maybe not but it looks bad regardless man. The dems are getting played. I am just stating how it looks to people not approving or disapproving. The dems needs to get their **** together if they want to do right.
So let me get this straight, you support a secret $500 billion dollar fund for the president to hand to any company he sees fit without any oversight powers from Congress? Because that's the crux of the disagreement right now.
My parents are QAnon following Trump nuts, and I wouldn't let them die to keep my job under almost all circumstances. I mean if my child would literally die tomm if she couldn't eat, and I had to sacrifice my parents for my kid in that scenario (dark I know), sure of course, but if someone loses their job, at some point they'll just get another one. Death is kinda final. I think people are being pretty damn selfish it's more about the comforts of their daily life routine that they are most worried about losing. The WW2 generation had to deal with months laying face down in the mud watching their friends die while our generation has to deal with eating take out and binge watching Netflix. Let's talk about perspective a little much folks.
We have a model for this. The feds gained equity in GM in exchange for aid. At one point, the government controlled 61% of GM (with much of the rest controlled by the UAW pension fund). That also meant that the feds gained significant influence in how the auto companies operated. So GM's CEO was fired. The companies were forced to end or sell off unprofitable car lines and they spun off GMAC (the finance wing) from the rest of GM. Also, the government engineered the merger of Fiat and Chrysler (as Chrysler could no longer operate by itself competitively). In short, there was a price to pay for the bailout. The companies temporarily surrendered control to the government who then reorganized them into more competitive businesses. Also lets not forget how the bank bailout (and TARP) was passed. The original version was a three page bill that basically gave Hank Paulson (Secretary of Treasury at the time) a pile of money to spend on rescuing the banks and auto industries and like the current bill that Senate Republicans made, it did little in the way of transparency nor did it create any strong conditions around the acceptance of government aid. Eventually a substantially revised version of the bill passed and I expect something like that to happen again.
Buckle in for another bumpy ride futures and Asian stocks are down. The failure to get the bill through the Senate might kill the rally from yesterday.
3.2 MM - my goodness. and this doesn't even capture the full extent of the problem (no gig workers + reported backlogs for many state's unemployment websites)
that’s about 2% of the workforce, bringing unemp to about 5%? Didn’t someone from the fed said unemployment can get to 30%? i was imagining at least 5% and up to 15% unemployment in these few weeks during the “pause”. I don’t understand how transitional this will be? How much of this will bounce right back down in a couple weeks to months or will this stay longer? Probably somewhere in between and I hope it’s mostly transitional...
