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

[thewhyteboar]

It's fitting, since all those groups are just welfare for mediocre* conservative writers.

 

*Yes, I know "mediocre conservative writers" is a tautology. 

[thewhyteboar]

 

[b_m_b_m_b_m]

2 minutes ago, thewhyteboar said:

It's fitting, since all those groups are just welfare for mediocre* conservative writers.

 

*Yes, I know "mediocre conservative writers" is a tautology. 

You sure they weren't just made up?

 

[PaladinSolo]

 

 

 

[b_m_b_m_b_m]

Fucking tragic, and wholly preventable.

[b_m_b_m_b_m]

Perhaps Congress should do oversight and not go on recess

[Jason]

 

[Guest]

Was on a call today where I heard that two mid size theater circuits in the north east were closing permanently. About 40 locations and 400 screens between them. Regal, AMC, and Cinemark will at minimum not be reopening 140 locations and 1000 screens.

 

Just a stunning situation given what a ridiculously strong year 2019 was for the industry.

[b_m_b_m_b_m]

16 hours ago, b_m_b_m_b_m said:

Fucking tragic, and wholly preventable.

 

12 minutes ago, Jason said:

 

[Jason]

7 minutes ago, b_m_b_m_b_m said:

 

 

It was above the new content line.

[Signifyin(g)Monkey]

14 hours ago, sblfilms said:

Was on a call today where I heard that two mid size theater circuits in the north east were closing permanently. About 40 locations and 400 screens between them. Regal, AMC, and Cinemark will at minimum not be reopening 140 locations and 1000 screens.

 

Just a stunning situation given what a ridiculously strong year 2019 was for the industry.

Would you say smaller theaters are more capable of weathering this storm than large and mid-size ones?  Due to lower overhead costs or something?

[Spawn_of_Apathy]

15 hours ago, sblfilms said:

Was on a call today where I heard that two mid size theater circuits in the north east were closing permanently. About 40 locations and 400 screens between them. Regal, AMC, and Cinemark will at minimum not be reopening 140 locations and 1000 screens.

 

Just a stunning situation given what a ridiculously strong year 2019 was for the industry.

Don’t theaters operate with pretty tight margins, with the studios taking most of the box office revenue? 
 

since most of a theater’s revenue is from advertising and concessions, wouldn’t that make these long closures pretty hard to weather? 

[Brian]

I look forward to visiting my local Disney theater to watch the next marvel movie. 

[b_m_b_m_b_m]

 

[Commissar SFLUFAN]

Oh...oh dear.

[Jason]

Can't get evicted from your bootstraps doe.

[rc0101]

44 minutes ago, b_m_b_m_b_m said:

 

Our past due 1-4 family mortgages went from .75% to 2%. 

[Iculus]

44 minutes ago, b_m_b_m_b_m said:

 

my car is paid off. suck it bitches!

[CitizenVectron]

Trudeau said (basically) that the government took on debt (by giving emergency benefits to people) so that citizens wouldn't have to...and conservatives are attacking him, saying things like "citizens have to pay that debt!"

 

They key thing about Trudeau's statement? Interest on government debt is less than 0.5%, where CC debt for a person is greater than 18% at a minimum.

[Signifyin(g)Monkey]

21 minutes ago, CitizenVectron said:

Trudeau said (basically) that the government took on debt (by giving emergency benefits to people) so that citizens wouldn't have to...and conservatives are attacking him, saying things like "citizens have to pay that debt!"

 

They key thing about Trudeau's statement? Interest on government debt is less than 0.5%, where CC debt for a person is greater than 18% at a minimum.

Debt the government owes to itself (rather than other countries) that's denominated in its own sovereign currency (rather than another country's) just shouldn't be likened to private debt, period.  They really are two different beasts, with their own set of dynamics.

[Commissar SFLUFAN]

Looming evictions may soon make 28 million homeless in U.S., expert says

Quote

CNBC: How does the eviction crisis brought on by the pandemic compare with the 2008 housing crisis? 

 

EB: We have never seen this extent of eviction in such a truncated amount of time in our history. We can expect this to increase dramatically in the coming weeks and months, especially as the limited support and intervention measures that are in place start to expire. About 10 million people, over a period of years, were displaced from their homes following the foreclosure crisis in 2008. We’re looking at 20 million to 28 million people in this moment, between now and September, facing eviction.

 

[SilentWorld]

holy shit 

[Uaarkson]

We’re #1 (3[rd world])!

[Commissar SFLUFAN]

8 minutes ago, Uaarkson said:

We’re #1 (3[rd world])!

About 14 million children in the US are not getting enough to eat (Brookings Institution)

Quote

Since the COVID-19 pandemic began, food insecurity has remained persistently elevated at record levels. Though food insecurity among households with children decreased from April to June, it is still far above its Great Recession peak. In fact, new data show that an unprecedented number of children in the United States are experiencing food insecurity and did not have sufficient food as of late June.

 

Since the first week in June, the US Census Bureau has asked households that reported having insufficient food whether it was often, sometimes, or never true that in the last 7 days the children (under 18 years old) living in your household “were not eating enough because we just couldn’t afford enough food.” 16.5 percent of households with children reported that it was sometimes or often the case that the children were not eating enough due to a lack of resources during the week of June 18-23 2020, 5.5 times the 2018 rate of 3 percent (the most recent annual data from the Current Population Survey).

 

[b_m_b_m_b_m]

A looming crisis and we're doing nothing.

 

...again

[b_m_b_m_b_m]

37 minutes ago, Emperor Diocletian II said:

Looming evictions may soon make 28 million homeless in U.S., expert says

 

How does this square up with this?

 

There's approximately 128 million households in the US. 32% of that is >41 million. I assume some of these people get hired back in "reopening"/PPP loans. But then if/when we lock back down or demand drops off again due to rising deaths/cases, we're gonna be right back where we started.

[Jason]

7 minutes ago, b_m_b_m_b_m said:

A looming crisis and we're doing nothing.

 

...again

 

[chakoo]

18 minutes ago, b_m_b_m_b_m said:

A looming crisis and we're doing nothing.

 

...again

Nah, they're not doing nothing. They're throwing dried logs and more tinder to make sure it's the biggest fire possible.

[Ghost_MH]

1 hour ago, b_m_b_m_b_m said:

How does this square up with this?

 

There's approximately 128 million households in the US. 32% of that is >41 million. I assume some of these people get hired back in "reopening"/PPP loans. But then if/when we lock back down or demand drops off again due to rising deaths/cases, we're gonna be right back where we started.

 

This is a permanent problem for people unless there's a stimulus check on the way that's large enough to cover the multiple months of rent people owe since we opted to put a moratorium on evictions and not rent/mortgage payments. After which we'll we'll have landlords that will legally keep security deposits to make up for the lost rent, leaving renters on the hook for new homes they may or likely do not have security deposits for. Also, good luck on getting accepted to new rentals if their credit took a hit while they were out of work and coming off a fresh eviction.

 

Washington will pass some legislation to force banks to forgive late mortgage payments and do nothing for renters. Renters problems are, very likely, permanent. Any scratching renters have done over the past years to get ahead in life is probably lost.

[b_m_b_m_b_m]

3 minutes ago, Ghost_MH said:

 

This is a permanent problem for people unless there's a stimulus check on the way that's large enough to cover the multiple months of rent people owe since we opted to put a moratorium on evictions and not rent/mortgage payments. After which we'll we'll have landlords that will legally keep security deposits to make up for the lost rent, leaving renters on the hook for new homes they may or likely do not have security deposits for. Also, good luck on getting accepted to new rentals if their credit took a hit while they were out of work and coming off a fresh eviction.

 

Washington will pass some legislation to force banks to forgive late mortgage payments and do nothing for renters. Renters problems are, very likely, permanent. Any scratching renters have done over the past years to get ahead in life is probably lost.

http://eyeonhousing.org/2019/03/homeownership-rates-by-race-and-ethnicity/

Hmm wonder why they'll help homeowners and not renters hmmmmmm

[Amazatron]

Tesla hits $1795 a share,  market cap $320B+, Musk passes Buffet on wealthiest list (> $75B)...

 

Oh, and the markets keep going up.

[b_m_b_m_b_m]

 

[CitizenVectron]

lol classic GOP: best way to help people is...capital gains holiday!

[Chairslinger]

2 minutes ago, CitizenVectron said:

lol classic GOP: best way to help people is...capital gains holiday!

 

 

If aliens invaded, Repubulicans would find a way to slip tax cuts into the Bill Pullman Independance Day speech.

[b_m_b_m_b_m]

We're gonna spend many multiple of $ as a % of GDP for worse results in terms of covid suppression/case counts and economic recovery. The wealthy will make out like bandits though. The American way!