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


Jason

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38 minutes ago, CitizenVectron said:

 

Not that I think it would fly in the US, but in Canada the federal government is now subsidizing media across the country to help keep it alive to avoid this exact scenario. There are some questions about the method of subsidy, but overall I think it's a good move for democracy. Plus there is already the CBC (tax-payer funded TV, radio, and internet news source), which is a good news source both locally and nationally.

Having the government fund news organizations sounds like a horrible idea

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48 minutes ago, BloodyHell said:

Having the government fund news organizations sounds like a horrible idea

 

There's pros and cons. The government doesn't actually get to decide what qualifies as independent media, there is a council for that, comprised of members from ownership groups, journalist unions, etc. Overall I'd normally agree that government funding media is bad, generally...but not having any media is worse. Also, the CBC and BBC are pretty good examples of arms-length government-funded western media that do a good job.

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I'd love to see a US state make an arms length fully funded/subsidized media system for every county/township/whatever. Just thinking solely of the petty corruption and lack of reporting that goes unnoticed in small towns and counties and at best there's a public radio station 3 counties over without the resources to cover it all.

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1 minute ago, Ricofoley said:

The extra three-hundo for UI benefits is complete vaporware

 

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Oh that's from yesterday. I did hear on NPR today that the administration is now saying they'll pay out the $300 even if the states don't kick in the extra $100.

 

But still, better hope it's not a bad hurricane season this year!

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Well, so yeah, that was one issue, but my understanding is that these statements from state governments are saying that they just can't implement the plan in any form. Because this is technically not an extension of the existing program, this is supposed to be like some sort of emergency fund from FEMA, they have to build something new from the ground up rather than just changing the variable from 600 to 300 in the existing UI system. And states absolutely do not have the capability of doing that on short notice.

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I mean, aside from all that they are allowing the amount states already pay in UI to count towards that 100, right? 

Aside from that making the original claim of a $400 benefit seem about as legitimate as a Trump steak, that also means that the amount of people currently getting UI benefits so as to qualify for the $300, but also making under 100 in state UI benefits is probably relatively small, and even among that sub-set the amount might be 30 or 40 bucks. And this is all supposed to be a temporary thing that only has a month worth of funds in it anyway. I mean, I am not one for states stiffing people on welfare benefits, but if ever there were a valid excuse to not go through a ton of effort and expense to set up a system to distribute funds, that would seem to be it.

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28 minutes ago, chakoo said:

https://www.reuters.com/article/us-usa-trump-alibaba/trump-says-looking-at-pressuring-other-chinese-companies-after-bytedance-idUSKCN25B11B

 

jurassic park hold onto your butts GIF

 

Wild prediction time but I can see a sizable market crash before the election as china retaliates on US companies.

Anyone born in like the 80s on see this as an insane strategy, but it makes perfect sense if you have boomer brain and still think its 1980.

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On 8/16/2020 at 11:20 AM, chakoo said:

https://www.reuters.com/article/us-usa-trump-alibaba/trump-says-looking-at-pressuring-other-chinese-companies-after-bytedance-idUSKCN25B11B

 

jurassic park hold onto your butts GIF

 

Wild prediction time but I can see a sizable market crash before the election as china retaliates on US companies.

I doubt it—that would endanger Trump’s reelection, and the Chinese definitely want him re-elected.  For them he’s the gift that keeps on giving, the inept rival emperor that might just help them win the Sino-US neo-Cold War before it’s even started.

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9 minutes ago, Signifyin(g)Monkey said:

I doubt it—that would endanger Trump’s reelection, and the Chinese definitely want him re-elected.  For them he’s the gift that keeps on giving, the inept rival emperor that might just help them win the Sino-US neo-Cold War before it’s even started.

US has pretty much eroded it's leverage with China. It's also come out through reports that China is wanting Biden.

 

https://www.businessinsider.com/us-intelligence-china-biden-russia-trump-election-2020-8

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10 minutes ago, Signifyin(g)Monkey said:

I doubt it—that would endanger Trump’s reelection, and the Chinese definitely want him re-elected.  For them he’s the gift that keeps on giving, the inept rival emperor that might just help them win the Sino-US neo-Cold War before it’s even started.

 

No, China wants Biden. https://www.businessinsider.com/us-intelligence-china-biden-russia-trump-election-2020-8

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