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~* Make America Great Depression Again -- Official Thread of Corona Virus infected markets *~


Jason

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1 hour ago, Firewithin said:

cool read an email from our CEO this morning that the company is going to start furloughing people.  i dont think im in any real danger of that but sucks anyway.

 

apparently he will take 50% pay cut for a few months as well as other senior people 

 

haha welp i thought wrong as i was just furloughed for at least a month lol

 

:shrug:

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The senate tried to pass a UC for the PPP program to add another $250 billion, but the Dems wanted to address the EIDL program which is out of advance money already.

 

My take is that the GOP really wants to protect the unemployment numbers from getting even more out of hand, which the PPP is just a back door version of unemployment where you’re getting businesses to keep paying employees even if you don’t have business coming in to support their salaries.
 

The EIDL program is actually more important to businesses trying to stay afloat for the long term and the Dem senators are right to push for expanding funding of that.

 

I’m not sure what other concessions the Dems were looking for, but expanding EIDL should be a top priority for Congress if they want to avoid the looming small business apocalypse.

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1 hour ago, sblfilms said:

The senate tried to pass a UC for the PPP program to add another $250 billion, but the Dems wanted to address the EIDL program which is out of advance money already.

 

My take is that the GOP really wants to protect the unemployment numbers from getting even more out of hand, which the PPP is just a back door version of unemployment where you’re getting businesses to keep paying employees even if you don’t have business coming in to support their salaries.
 

The EIDL program is actually more important to businesses trying to stay afloat for the long term and the Dem senators are right to push for expanding funding of that.

 

I’m not sure what other concessions the Dems were looking for, but expanding EIDL should be a top priority for Congress if they want to avoid the looming small business apocalypse.

They need to do both, it's not like we need to give a shit about a budget right now anyway. 

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10 hours ago, CitizenVectron said:

 

:lol:

 

 

Just when I thought they couldn't find anyone worse than Kushner or Kudlow.

 

10 hours ago, Chris- said:

 

Conservative economics are intellectually and morally bankrupt.

 

10 hours ago, b_m_b_m_b_m said:

It's also hilariously rich that a man who has not been out of a job since the early 80's talks about people choosing to be unemployed

 

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Hawley's plan is shit, just amazing that a Republican even said it.

https://www.washingtonpost.com/politics/a-progressive-congresswoman-and-a-conservative-senator-want-the-federal-government-to-pay-workers-salaries/2020/04/10/9287e04c-7ac0-11ea-a130-df573469f094_story.html?utm_campaign=wp_main&utm_medium=social&utm_source=twitter

 

But with the world upended, so, too, are the political paradigms. There’s consensus among Democrats and Republicans that the government has to spend big quickly to stave off total economic collapse.

Jayapal’s plan is significantly more generous, using federal dollars to cover 100 percent of workers’ salaries up to $100,000 and their benefits, such as health care. Hawley would have the Treasury Department foot 80 percent of the salary, with a cap of the median income wage. Hawley’s proposal does not specify how that would be calculated, but data suggests that the cap could be somewhere between $30,000 and $50,000.

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According to virihealth.com, there are 19 fewer people in ICU with covid-19 than yesterday. I think that’s really good news for Canada, and therefore the world.

 

12 minutes ago, mclumber1 said:

 

Isn't there a push by some Albertans to break away from Canada?

 

I know a country that wouldn't mind having their resources. 

Personally, I think wexit is just virtue signalling. Alberta isn’t gonna separate. 

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We have such a screwy situation. I could see the writing on the wall and told all my staff to file unemployment as soon as the disaster option went live on the Texas website. Texas is covering 80% of their wages PLUS the $600/week from the CARES Act, so my staff all got nice raises :lol:

 

They will be so disappointed to go back to work :p 

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21 minutes ago, sblfilms said:

We have such a screwy situation. I could see the writing on the wall and told all my staff to file unemployment as soon as the disaster option went live on the Texas website. Texas is covering 80% of their wages PLUS the $600/week from the CARES Act, so my staff all got nice raises :lol:

 

They will be so disappointed to go back to work :p 

 

You're joking but this is what republicans were arguing when they were opposed to the added assistance for unemployment. 

 

https://thehill.com/homenews/senate/489494-republicans-threaten-to-slow-walk-coronavirus-stimulus-bill-over-unemployment

 

Quote

A group of Republican senators are warning they will oppose fast-tracking a mammoth coronavirus stimulus package as they push for changes to a "drafting error" related to the bill's bolstered unemployment benefits. Sens. Tim Scott (R-S.C.), Lindsey Graham (R-S.C.) and Ben Sasse (R-Neb.) said there was a "massive drafting error" within the package that would have "devastating consequences."

 

"Unless this bill is fixed, there is a strong incentive for employees to be laid off instead of going to work. ... We must sadly oppose the fast-tracking of this bill until this text is addressed, or the Department of Labor issues regulatory guidance that no American would earn more by not working than by working," the three senators said in a statement.

 

A group of Republican senators are warning they will oppose fast-tracking a mammoth coronavirus stimulus package as they push for changes to a "drafting error" related to the bill's bolstered unemployment benefits. Sens. Tim Scott (R-S.C.), Lindsey Graham (R-S.C.) and Ben Sasse (R-Neb.) said there was a "massive drafting error" within the package that would have "devastating consequences." "Unless this bill is fixed, there is a strong incentive for employees to be laid off instead of going to work. ... We must sadly oppose the fast-tracking of this bill until this text is addressed, or the Department of Labor issues regulatory guidance that no American would earn more by not working than by working," the three senators said in a statement.

 

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