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

[b_m_b_m_b_m]

6 minutes ago, Spawn_of_Apathy said:

WTF is wrong with his staff? Hillary only loses him votes. He gains nothing. 

With democrats she's the second most popular Democrat after his old boss.

 

Bernie would be trying to get her endorsement too don't kid yourself

[CitizenVectron]

9 minutes ago, Spawn_of_Apathy said:

WTF is wrong with his staff? Hillary only loses him votes. He gains nothing. 

 

As sad as it is, he'd be better off getting Bill Clinton to play sax for an hour.

[Guest]

May is looking bright for the drive in. Have about $30k in events booked, and I started doing online ticketing sales finally and they are moving at a brisk pace for both Trolls and Onward. Started to book some June events too. The indoor theater is screwed though. Oh well. We at least will be able to pay all our bills. I know so many who are waaaay worse off.

3 hours ago, Amazatron said:

Weee, AMC up 35% today!

It's such a terrible value even as low as it sunk. It's overloaded with absolutely awful leases on hundreds of it's American locations due to poor expansion decisions when Wanda was pumping mad fat stacks of jack in.

[rc0101]

We had employees up until 3 in the morning trying to submit loans to the SBA. Got about 10 done because the system crashes so often and the fact that we have to submit one by one, while the big banks get to upload a CSV file with all of their loans...I am not bitter at all I promise.

[Guest]

1 hour ago, rc0101 said:

We had employees up until 3 in the morning trying to submit loans to the SBA. Got about 10 done because the system crashes so often and the fact that we have to submit one by one, while the big banks get to upload a CSV file with all of their loans...I am not bitter at all I promise.

This two tier system for big companies and the big banks would be criminal if it weren't the US. I know folks who ended up going to SBA approved non-bank lenders and STILL haven't been funded despite getting a PLP in round one. You can jump on CAFS and see the approved loan, but these smaller lenders like Ready Capital pushed so many through that they don't seem to have the actual dollars to fund them yet. A catastrophe. 

[rc0101]

1 hour ago, sblfilms said:

This two tier system for big companies and the big banks would be criminal if it weren't the US. I know folks who ended up going to SBA approved non-bank lenders and STILL haven't been funded despite getting a PLP in round one. You can jump on CAFS and see the approved loan, but these smaller lenders like Ready Capital pushed so many through that they don't seem to have the actual dollars to fund them yet. A catastrophe. 

Yeah it is such a mess. We have been getting our round 1 PPP loans funded thankfully.  The real interesting part will be getting them forgiven.  The SBA is notorious for going back on their guarantees and I am just waiting for that to happen in the next few months...Assuming they ever get around to finalizing their rules

 

Not to mention the customers who took funding and then will have their files audited. Every loan over $2 million will be audited I believe. If they didn't actually need the funding and received it...That could get interesting.

[Guest]

8 minutes ago, rc0101 said:

Yeah it is such a mess. We have been getting our round 1 PPP loans funded thankfully.  The real interesting part will be getting them forgiven.  The SBA is notorious for going back on their guarantees and I am just waiting for that to happen in the next few months...Assuming they ever get around to finalizing their rules

 

Not to mention the customers who took funding and then will have their files audited. Every loan over $2 million will be audited I believe. If they didn't actually need the funding and received it...That could get interesting.

I’ve made peace with not getting any loan forgiveness. Super cool if it happens though!

[marioandsonic]

6 minutes ago, sblfilms said:

I’ve made peace with not getting any loan forgiveness. Super cool if it happens though!

 

Now you know how I feel about my student loans!

 

*cries*

[rc0101]

1 hour ago, sblfilms said:

I’ve made peace with not getting any loan forgiveness. Super cool if it happens though!

Hey 1% interest rate isn't bad at least!

[Guest]

1 minute ago, rc0101 said:

Hey 1% interest rate isn't bad at least!

Exactly. Gave us plenty of runway for next to nothing. Keep me updated on what you find out about the SBA guidance on forgiveness!

[rc0101]

1 hour ago, sblfilms said:

Exactly. Gave us plenty of runway for next to nothing. Keep me updated on what you find out about the SBA guidance on forgiveness!

Will do. If you followed the guidance I honestly think you will be good.

[Commissar SFLUFAN]

US 1Q GDP -4.8%

[SaysWho?]

More info.

 

Quote

 

While Wall Street had been steeling itself for the data, the worst is yet to come. First quarter data captured economic activity up to the end of March, but the second quarter will likely include three straight months of decline.

 

"You're looking at something like minus 20 percent to minus 30 percent in the second quarter," White House economic adviser Kevin Hassett told CNBC on Monday, noting that the coronavirus is "the biggest shock since the Great Depression. It’s a very grave shock and it’s something we need to take seriously.”

 

The Congressional Budget Office estimated second-quarter GDP would be down by as much as 40 percent, for the worst quarter since 1947.

 

 

[Chairslinger]

1 hour ago, Emperor Diocletian II said:

US 1Q GDP -4.8%

 

 

I am tired of winning so much now, please kill me.

[Firewithin]

6 minutes ago, Chairslinger said:

 

 

I am tired of winning so much now, please kill me.

Dont worry the government is making sure you do

[Jason]

USO did a 8:1 reverse split yesterday, and apparently USO literally ran out of shares to buy from people buying the dip. 

[SaysWho?]

 

 

 

[mclumber1]

Isn't Cuomo's argument a bit disingenuous?  I was under the impression that these billions of dollars that red states are getting aren't really payments or welfare, but instead federal activity - things like military bases and federal facilities and jobs count towards that number.  

[Jason]

8 minutes ago, mclumber1 said:

Isn't Cuomo's argument a bit disingenuous?  I was under the impression that these billions of dollars that red states are getting aren't really payments or welfare, but instead federal activity - things like military bases and federal facilities and jobs count towards that number.  

 

No, a lot of it is stuff like SNAP and Medicaid funding.

[Chadatog]

 

15 minutes ago, mclumber1 said:

Isn't Cuomo's argument a bit disingenuous?  I was under the impression that these billions of dollars that red states are getting aren't really payments or welfare, but instead federal activity - things like military bases and federal facilities and jobs count towards that number.  

 

 

These things still exist in blue states

[SaysWho?]

Full video:

 

 

10 minutes ago, mclumber1 said:

Isn't Cuomo's argument a bit disingenuous?  I was under the impression that these billions of dollars that red states are getting aren't really payments or welfare, but instead federal activity - things like military bases and federal facilities and jobs count towards that number.  

 

No.

 

The things like military bases are propping up their economies (i.e. Warner Robins, GA), towns that wouldn't exist as they do without government money. They're getting government money injected into them each year which prop up their economies despite not putting in as much as a state like New York.

[mclumber1]

1 minute ago, SaysWho? said:

Full video:

 

 

 

No.

 

The things like military bases are propping up their economies (i.e. Warner Robins, GA). They're not literally getting welfare; they're getting government money injected into them each year which prop up their economies despite not putting in as much as a state like New York.

 

If the argument is that these military bases or federal civilian jobs shouldn't exist, make that argument (pointing at Cuomo here). I just feel it's a cheap shot to say "hurr durr we are richer than you and put in more money into the federal treasury".

 

I agree with Cuomo that it is a dumb idea to let states declare bankruptcy though.  I like that he is essentially challenging Turtle to a dual over this.  It's good politics. 

[Jason]

4 minutes ago, SaysWho? said:

Full video:

 

 

 

No.

 

The things like military bases are propping up their economies (i.e. Warner Robins, GA), towns that wouldn't exist as they do without government money. They're getting government money injected into them each year which prop up their economies despite not putting in as much as a state like New York.

 

And doesn't basically every state have military bases? 

[SaysWho?]

11 minutes ago, mclumber1 said:

 

If the argument is that these military bases or federal civilian jobs shouldn't exist, make that argument (pointing at Cuomo here). I just feel it's a cheap shot to say "hurr durr we are richer than you and put in more money into the federal treasury".

 

I agree with Cuomo that it is a dumb idea to let states declare bankruptcy though.  I like that he is essentially challenging Turtle to a dual over this.  It's good politics. 

 

No, that's not the argument.

 

The argument is that these states would have poor economies without getting government money year after year from states like New York.

 

He's not saying "hurr durr we are richer" since Florida also gets more than it puts in despite it being richer than a place like Kentucky.

 

The hypocrisy of taking that money gleefully while telling those states to declare bankruptcy -- that they shouldn't get help -- is stunning despite coming from two scumbags like McConnell and Scott.

[CitizenVectron]

This sort of system (equalization of resources) is a good thing, and I don't think Cuomo disagrees with it in principle (nor should anyone who wants a unified country). The issue is when the people receiving the money claim the rich states are freeloaders, when in fact they are propping up the country.

[MarSolo]

1 minute ago, CitizenVectron said:

This sort of system (equalization of resources) is a good thing, and I don't think Cuomo disagrees with it in principle (nor should anyone who wants a unified country). The issue is when the people receiving the money claim the rich states are freeloaders, when in fact they are propping up the country.

The problem is a lot of idiots believe McConnell over Cuomo in this case.

[Guest]

There are like 6 states that subsidize the economic activity of the other 44 without even getting into federal revenue and expenditure, just due to the nature of their population sizes. Kentucky gets sweet trade deals because of California, NY, Texas, etc. and their large economies. Those states could all be independent nations and continue to do very well on the world stage, Cali in particular is very well positioned to do such.

[Joe]

If NJ becomes a country, can we give South Jersey to PA?

[Spork3245]

10 minutes ago, Jose said:

If NJ becomes a country, can we give South Jersey to PA?

No, because you northerners call Pork Roll “Taylor Ham”... IT’S NOT HAM

[Joe]

17 minutes ago, Spork3245 said:

No, because you northerners call Pork Roll “Taylor Ham”... IT’S NOT HAM

 

I have somehow never tried it haha.

[Commissar SFLUFAN]

53 minutes ago, sblfilms said:

There are like 6 states that subsidize the economic activity of the other 44 without even getting into federal revenue and expenditure, just due to the nature of their population sizes. Kentucky gets sweet trade deals because of California, NY, Texas, etc. and their large economies. Those states could all be independent nations and continue to do very well on the world stage, Cali in particular is very well positioned to do such.

The fiscal union that permits the transfer of wealth from more productive states to less productive ones is one of the things that the US got right in contrast to the EU that's gotten it so very, very, very wrong so far (there is no EU fiscal union).

[CitizenVectron]

2 minutes ago, Emperor Diocletian II said:

The fiscal union that permits the transfer of wealth from more productive states to less productive ones is one of the things that the US got right in contrast to the EU that's gotten it so very, very, very wrong so far (there is no EU fiscal union).

 

Agreed. This is why Canada and the US are able to function well even with regional differences. In Canada the process is even spelled out more clearly with an actual process called equalization payments, based on a formula for tax redistribution.

 

As an aside, if the US ends up breaking up into smaller, regional nations (semi-independent), then it is only fair that the UK gets to draw the borders based on whatever fucked up criteria they choose, much like post-WWI and WWII.

[Spork3245]

25 minutes ago, Jose said:

 

I have somehow never tried it haha.

Well you also call a hoagie “subs” or some weird shit too!

[Joe]

9 minutes ago, Spork3245 said:

Well you also call a hoagie “subs” or some weird shit too!

 

Wtf is a hoagie.

 

[Jason]

24 minutes ago, CitizenVectron said:

 

Agreed. This is why Canada and the US are able to function well even with regional differences. In Canada the process is even spelled out more clearly with an actual process called equalization payments, based on a formula for tax redistribution.

 

As an aside, if the US ends up breaking up into smaller, regional nations (semi-independent), then it is only fair that the UK gets to draw the borders based on whatever fucked up criteria they choose, much like post-WWI and WWII.

 

The British and the French.