Here Comes the Recession

#676
#676
volfanjustin said:
I don't think it's going to be $1000 per, I am thinking $2000 per person.
I guess the thought is just get us a month-ish and we should be past this nightmare. I still don't know that I can agree it's the governments job to do so
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I think it should be about $15k to seniors to make up for lowering the interest to nothing.
 
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#677
#677
lawgator1 said:
I have mixed feelings about this:

1) I don't need a check for $1,000 to pay my bills.

2) I acknowledge that due to the virus may other people will.

3) If the Feds do this, I will get a check just like everybody else.

4) In a sense, I wish we had time to make such a grand gesture more surgical. Send the checks to people who work at restaurants or on airplanes. But that would take a long, long time, and we don't have it.

5) If it works to help stabilize the economy -- hopefully as we see the number of cases stabilize -- then I feel like the benefit will outweigh the cost.

6) But, $1,000 will barely keep most people going for two weeks, much less three months. Rent, alone, for a month is going to be more than that for a lot of people. So I doubt its effectiveness past the 2-3 week mark.
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Let them put a moratorium on rent and mortgage for a month or two. They were bailed out one time, so let the banks eat it pay for it.
 
#681
#681
Sandman 423 said:
and if the money from rent is the landlords source of income?
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Well if said landlord pays a mortgage on rental or their live- in property, they would be exempt as well. If they outright own multiple properties, then they would not be in need from an equity standpoint.

Just kicking things out that would not blow our national budget and see that people are not out on the streets for failure to pay rent or mortgage on time. It could just be a moratorium as well and will need to be paid over time or the mortgage term extended additional month(s).
 
#682
#682
Orangeburst said:
If it is owned property, nobody. The banks for any outstanding mortgage. Not ideal, but better than giving every taxpayer money.
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My wife has a low income property in Memphis and they are already getting "we don't have to pay rent since the courts are closed".
 
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#683
#683
I say let businesses fend for themselves, give people laid off in the hospitality industry unemployment payments and let the chips fall where they may. This bailing out every business because they don't have enough money to weather a squall when they just spent their emergency fund buying their stock back has got to stop.
 
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#684
#684
hog88 said:
My wife has a low income property in Memphis and they are already getting "we don't have to pay rent since the courts are closed".
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Well, I do not know the exact circumstances of the law, but exercise your rights and kick em out if you need.
Sounds like what I mentioned is already coming to fruition anyways. Now they will get free rent and want the freebie taxpayer money as well.
 
#685
#685
Orangeburst said:
Let them put a moratorium on rent and mortgage for a month or two. They were bailed out one time, so let the banks eat it pay for it.
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An interesting argument.

And I heard the other day on CNBC that the airlines had record $28 billion in profits last year. Now they can't survive for 2 months with no or little revenue? If they say they will pay it back, guess who is going to pay it? Not them. We will. A "Coronavirus Surcharge" on future flights.
 
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#686
#686
lawgator1 said:
An interesting argument.

And I heard the other day on CNBC that the airlines had record $28 billion in profits last year. Now they can't survive for 2 months with no or little revenue? If they say they will pay it back, guess who is going to pay it? Not them. We will. A "Coronavirus Surcharge" on future flights.
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The Laws of Thermodynamics apply. That is one reason the right keeps harping on "nothing is free".
 
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#689
#689
lawgator1 said:
An interesting argument.

And I heard the other day on CNBC that the airlines had record $28 billion in profits last year. Now they can't survive for 2 months with no or little revenue? If they say they will pay it back, guess who is going to pay it? Not them. We will. A "Coronavirus Surcharge" on future flights.
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You struck a nerve with me. The bastages have been making flying worse every year and adding fee after fee to make billions of dollars in profits. Now that they took their profits and bought back stock to make their stock price go up, they want the public to bail their asses out because they don't have any money. Well I'll give them money when every last one of their share holders loses every damn penny.
 
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#691
#691
VolStrom said:
You struck a nerve with me. The bastages have been making flying worse every year and adding fee after fee to make billions of dollars in profits. Now that they took their profits and bought back stock to make their stock price go up, they want the public to bail their asses out because they don't have any money. Well I'll give them money when every last one of their share holders loses every damn penny.
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Thanks, I'm getting close . I own some Delta stock, and it's gotten hammered.
 
#694
#694
VolStrom said:
I hope you lose every damn penny you invested in them because they don't deserve a public bailout.
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It looks like I'm going to. It's not too bad though. I only invested $4,000 and am down almost half. Way less than what I am down on Cracker Barrel, and a few others.
 
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#698
#698
VolStrom said:
You struck a nerve with me. The bastages have been making flying worse every year and adding fee after fee to make billions of dollars in profits. Now that they took their profits and bought back stock to make their stock price go up, they want the public to bail their asses out because they don't have any money. Well I'll give them money when every last one of their share holders loses every damn penny.
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That was the complaint being made on CNBC.

And its a good one.
 
#699
#699
Orangeburst said:
Well, I do not know the exact circumstances of the law, but exercise your rights and kick em out if you need.
Sounds like what I mentioned is already coming to fruition anyways. Now they will get free rent and want the freebie taxpayer money as well.
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Cities are starting to suspend evictions and at some point they will suspended rent & mortgage paymnts if this continues into the summer.
 
#700
#700
VolStrom said:
I say let businesses fend for themselves, give people laid off in the hospitality industry unemployment payments and let the chips fall where they may. This bailing out every business because they don't have enough money to weather a squall when they just spent their emergency fund buying their stock back has got to stop.
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This doesn't reflect reality. Small businesses are the economic engine of our country. Most are privately held with no stocks or anything like what you're talking about. If they go under, things only get worse.
 
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