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Jason

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

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I still am very attracted to the idea of the Fed just guaranteeing all ACH transactions. You don’t need a functional congress to do that, and businesses could keep people on the payroll regardless of how the business is doing.

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On 6/20/2020 at 11:24 PM, sblfilms said:

I just closed a deal to acquire a big chunk of land just east of downtown Houston, less than 5 minutes from Minute Maid Park (Astros) and Toyota Center (Rockets). The ground lease is exactly zero dollars for 5 years. It’s basically just a piece of marketing for the overall development they are trying to do with the 150ish acres they have which used to be KBR’s corporate headquarters.

 

We will be building a drive in there. Much excite.

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The $600 PUC has 3 more payouts left, there’s about to be a record number of evictions on Wednesday, and a second relief bill that was passed in the House has been sitting in the Senate for something like 6-weeks.

3747395-E-32-A1-40-E5-8-D74-6-B83712-EF7

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54 minutes ago, b_m_b_m_b_m said:

Literally opposite day at the white house

 


You might as well hand the keys to the White House and move in the Biden family now if they don’t do that.

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1 hour ago, MarSolo said:


You might as well hand the keys to the White House and move in the Biden family now if they don’t do that.

 

But why not try to double down on the massively unpopular move of killing the ACA in the meantime?

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I'm not flying anywhere until there is widespread immunity, one way or another. I've been fortunate to actually have increased my salary during this period, so it's not a matter of economic impact to me, but I am not taking the risk of spreading the virus (one way or another). If it gets to the point where a vaccine has been widely distributed in Canada, but not some place we want to go, then we'll just travel in Canada. We've kind of decided on that anyway, to support more local places. It's not hard in Canada or the US to effectively just travel within the country, as both are huge and contain a wide variety of places.

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The rates are incredibly high across the board, but job losses have been particularly stark among Black and brown workers. Historically higher unemployment rates and lower liquid savings make job losses even more devastating for Black workers and their families. Unemployment rates in May were also extremely high among women, and especially Hispanic, Asian, and Black women. Furthermore, the unemployment rate is higher for workers with lower levels of educational attainment, though even among those with advanced degrees, nearly one in 10 are either unemployed or out of work as a result of the virus. The figure also shows that young people have been hit especially hard in this pandemic recession, with more than a third of 16–23 year-olds either officially unemployed or otherwise out of work as a result of the virus. Those graduating right now are in a particularly difficult situation, as they are experiencing extremely limited job opportunities but do not qualify for unemployment insurance, even under the expansive definitions of the CARES Act.

 

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Unemployment rate down to 11.1%, 4.8 million jobs were added

 

These numbers come prior to bars, gyms, etc. closing again in many big states.

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4 minutes ago, SaysWho? said:

Unemployment rate down to 11.1%, 4.8 million jobs were added

 

These numbers come prior to bars, gyms, etc. closing again in many big states.


The July report is going to be interesting.

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Things are still very bad, but it sounds like from my estimation republicans will be cutting off the expanded UI (and taking further stimulus off the table) and ignore the reality that millions of jobs, as of right now, are gone for good.

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2 hours ago, Spork3245 said:


The July report is going to be interesting.

Yes it is because the story I worked on just last night for this mornings's news was about the second round of layoffs due to states shutting down again. We interviewed several people who were either layed off or had to lay off folks. I predict unemployment will jump significantly again in July.

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2 minutes ago, skillzdadirecta said:

Yes it is because the story I worked on just last night for this mornings's news was about the second round of layoffs due to states shutting down again. We interviewed several people who were either layed off or had to lay off folks. I predict unemployment will jump significantly again in July.


Is PPP still available? I have concerns that these layoffs from second shutdowns may be more permanent 

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4 minutes ago, Spork3245 said:


Is PPP still available? I have concerns that these layoffs from second shutdowns may be more permanent 

They extended it the night before last I believe in a late night session till August 8th

 

https://www.wsj.com/articles/house-passes-extension-of-paycheck-protection-program-11593640427

 

But yes, that is a concern that these layoffs may be more longer lasting. Which is why States are trying to be more targeted in their shut down plans this time around.

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1 hour ago, Spork3245 said:


Is PPP still available? I have concerns that these layoffs from second shutdowns may be more permanent 

PPP loans stopped being approved in the SBA portal on June 30th, and most banks stopped taking new applications last week. I think there may be a short extension to it coming though. They also changed the formula to allow for a longer period to use the funds and have them be forgiven.

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PPP extension was sent to the President. Would extend to Aug 8. As Skillz said. 

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