Stimulus package: More money for small businesses could have to wait weeks, Pelosi indicates

[ducks]

https://www.yahoo.com/news/stimulus-package-more-money-small-170353486.html

[Thread]

(They're) pissed they didn't snag his ass at Impeachment & they ain't lettin' go no matter the death count. They calculate he will have the vast lion's share of that shit sandwich come Election day.

& it's a pretty safe gamble by her. (We) ain't gonna remember much come November cept that death count.

A "piss pot pie-in-the-sky loan program" that MSM persistently reports is failing to start with will not resonate, no matter how hard we hammer to resuscitate it.

[CosmicCowboy]

There will be a lot of small businesses that won't be able to make payroll next week because that shriveled up old cunt wants to play gotcha. You think the unemployment numbers are bad now, just wait.

[hater]

https://www.yahoo.com/news/stimulus-package-more-money-small-170353486.html

bendover I will indicate a stimulus

[CosmicCowboy]

Sweet. Got my SBA number. apparently it slid in under the wire.

[Winehole23]

There will be a lot of small businesses that won't be able to make payroll next week because that shriveled up old cunt wants to play gotcha. You think the unemployment numbers are bad now, just wait.Too bad small businesses didn't marshall their resources better, save up for a rainy day.

Why should the government bail out irresponsible businesses that can't weather a one month rough patch?

[SnakeBoy]

Too bad small businesses didn't marshall their resources better, save up for a rainy day.

Why should the government bail out irresponsible businesses that can't weather a one month rough patch?

You still got that Paulbot in you :lol

[Winehole23]

You still got that Paulbot in you :lolShould have blued it, I was lampooning CC.

[ChumpDumper]

So bootstraps won't work? Looks like a cultural problem.

[boutons_deux]

Pelosi wants to make sure, after she and Dems made sure the wealthy got bailed out, that the non-wealthy get some $$$

I don't think the govt has the fine control she's looking for to get money to the truly needy, only a shotgun of money, mostly aimed at the oligarchy.

[CosmicCowboy]

My office managers husband has a small AC company that runs a couple of service trucks. She says everyone has cancelled their service and hes not going to be able to make payroll tomorrow. This should make winehole happy since it punishes the greedy bastard that didnt plan for a worldwide pandemic.

[Winehole23]

My office managers husband has a small AC company that runs a couple of service trucks. She says everyone has cancelled their service and hes not going to be able to make payroll tomorrow. This should make winehole happy since it punishes the greedy bastard that didnt plan for a worldwide pandemic.Sorry for your friend.

Sometimes bad things happen to good businesses.

Given that bad things cause good people to go out of business all the time, why should big government pick up the tab this time?

Not rhetorical, interested in your thinking on this. Do you become a Keynesian during a depression?

[CosmicCowboy]

Sorry for your friend.

Sometimes bad things happen to good businesses.

Given that bad things cause good people to go out of business all the time, why should big government pick up the tab this time?

Not rhetorical, interested in your thinking on this. Do you become a Keynesian during a depression?

My thinking is since both political parties have absolutely abandoned fiscal sanity we might as well try to enjoy the last hurrah. Uncle Oprah is giving shit away left and right damn the future consequences. Hell when Biden gets elected I might even get some new green golf carts...these are getting old.

[Winehole23]

My thinking is since both political parties have absolutely abandoned fiscal sanity we might as well try to enjoy the last hurrah. Uncle Oprah is giving shit away left and right damn the future consequences.So basically, you've become a nihilist?

[CosmicCowboy]

So basically, you've become a nihilist?

More of a realist. The political process in Washington appears to be irrevocably broken.

[SnakeBoy]

Given that bad things cause good people to go out of business all the time, why should big government pick up the tab this time?


This is a really a dumb question. It's the government shutting the economy down. This isn't even keynesian economics, it's unprecedented in human history. There is no economic theory for shutting down the economy on purpose.

[Winehole23]

This is a really a dumb question. It's the government shutting the economy down. This isn't even keynesian economics, it's unprecedented in human history. There is no economic theory for shutting down the economy on purpose.It's not unprecedented in human history, and it's not based on economics. It's based in epidemiology and due regard for human life.

But now that you mention it, there is a reasonable economic rationale. Runaway pandemics appear to be more destructive than non-medical countermeasures.

http://news.mit.edu/2020/pandemic-health-response-economic-recovery-0401


https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3561560

As to your feeling that my question to CC about Keynesian economics is misplaced, I don't think it is. Increased government spending is one of the few effective tools against a demand shock, to avert or mitigate a debt-deflation spiral.

[CosmicCowboy]

I'm still trying to wrap my head around how life has changed. It's like some get it and some dont. Went to walmart yesterday and half the people were wearing masks of some kind and delicately trying to social distance and the other half were just acting like classic "people from walmart". This shit is here to stay. There wont be a "normal" for fucking years.

[Winehole23]

I'm still trying to wrap my head around how life has changed. It's like some get it and some dont. Went to walmart yesterday and half the people were wearing masks of some kind and delicately trying to social distance and the other half were just acting like classic "people from walmart". This shit is here to stay. There wont be a "normal" for fucking years.Unless people feel safe, it won't matter how many times Trump, your governor, your mayor and the Chamber of Commerce say olly olly oxen free. They'll still hunker down and socially distance.

That's why reopening the economy has to be based on mass testing, social tracing and effective containment measures that the former make possible. It has to be based on actually controlling the pandemic (until we have a vaccine or the equivalent.)

[Winehole23]

It's not unprecedented in human history, and it's not based on economics. It's based in epidemiology and due regard for human life.

But now that you mention it, there is a reasonable economic rationale. Runaway pandemics appear to be more destructive than non-medical countermeasures.

http://news.mit.edu/2020/pandemic-health-response-economic-recovery-0401


https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3561560

As to your feeling that my question to CC about Keynesian economics is misplaced, I don't think it is. Increased government spending is one of the few effective tools against a demand shock, to avert or mitigate a debt-deflation spiral.Face it, SnakeBoy. We're in a depression.

[boutons_deux]

Small-business program intended for quick grants is running weeks behind

Applicants are supposed to receive emergency cash within three days. Many have been waiting weeks.

https://www.washingtonpost.com/business/2020/04/15/another-sba-program-is-severely-backlogged-running-low-funds/?cv-campaign=4fda08e2fbca0387b958bb44bf5cc2b6&utm_campaign=wp_to_your_health&utm_content=2020_04_15&utm_medium=email&utm_source=newsletter&wpisrc=nl_tyh (https://www.washingtonpost.com/business/2020/04/15/another-sba-program-is-severely-backlogged-running-low-funds/?cv-campaign=4fda08e2fbca0387b958bb44bf5cc2b6&utm_campaign=wp_to_your_health&utm_content=2020_04_15&utm_medium=email&utm_source=newsletter&wpisrc=nl_tyh)

[rascal]

My office managers husband has a small AC company that runs a couple of service trucks. She says everyone has cancelled their service and hes not going to be able to make payroll tomorrow. This should make winehole happy since it punishes the greedy bastard that didnt plan for a worldwide pandemic.

Didn't the stimulus give small business loans that don't have to be paid back just the 4% interest. Why didn't they get a loan? They also can furlough/lay off the workers for a couple of months so they don't have to make payroll.

[midnightpulp]

My office managers husband has a small AC company that runs a couple of service trucks. She says everyone has cancelled their service and hes not going to be able to make payroll tomorrow. This should make winehole happy since it punishes the greedy bastard that didnt plan for a worldwide pandemic.

I think Winehole's overarching point with the sarcasm is that pure capitalism can't solve every problem. Not saying you think like this, but there's many capitalist fundamentalists who think the "invisible hand" can solve any and all problems. This pandemic situation should illustrate the need for a healthy social safety net that is built by, gasp, more taxes, especially on those "bootstrapped" billionaires who haven't done much in alleviating some of the small business economic stress with 8 and 9 figure donations. Only one to step up is the twitter guy. It just rubs people the wrong fuckin' way when an Elon Musk (worth 40 billion) is furloughing employees and cutting salary. I think Telsa employs 50K people. Musk could peel off a cool 5 billion that would not affect his lifestyle in any way, shape, or form and pay each worker 100K for the year.

Dorsey proved the concept. Billionaires can afford to do things like this. When they don't, it's pure fuckin' greed, plain and simple, and us "little people" are sick of it.

[Winehole23]

Watching colleges with multibillion dollar endowments call everything off gives me a shiver of fear about the higher education in the US. They were already leaning hard on adjuncts, now those have been largely remaindered.

Something's gotta give.That model ian't sustainable.

What are they saving their powder for?

[Blake]

Didn't the stimulus give small business loans that don't have to be paid back just the 4% interest. Why didn't they get a loan? They also can furlough/lay off the workers for a couple of months so they don't have to make payroll.

There's a memo that the loan application was a pain in the ass and the money is already all gone

[baseline bum]

Watching colleges with multibillion dollar endowments call everything off gives me a shiver of fear about the higher education in the US. They were already leaning hard on adjuncts, now those have been largely remaindered.

Something's gotta give.That model ian't sustainable.

What are they saving their powder for?

Which schools are shutting down? Tuition isn't enough rape for them to get by, they need to fuck kids over on dorms, books, food, gym memberships, and shit too? No way they aren't tacking on big distance learning fees right now.

[baseline bum]

Interesting rant from a small business owner who got fucked by the PPP


https://www.youtube.com/watch?v=yP4rodsK41E

[Trainwreck2100]

If only those businesses had stuff months of disaster savings, it's bootstraps time

[boutons_deux]

Watching colleges with multibillion dollar endowments call everything off gives me a shiver of fear about the higher education in the US. They were already leaning hard on adjuncts, now those have been largely remaindered.

Something's gotta give.That model ian't sustainable.

What are they saving their powder for?

$M salaries and, multi $100K salaries, super-cushy pensions for the Presidents, professors, top staff.

It's the Capitalist "corporate model", total greed while delivering the shittiest possible product for highest possible price.

[leemajors]

Interesting rant from a small business owner who got fucked by the PPP


https://www.youtube.com/watch?v=yP4rodsK41E

VC companies with a dozen employees got there first :lmao

[RandomGuy]

Unless people feel safe, it won't matter how many times Trump, your governor, your mayor and the Chamber of Commerce say olly olly oxen free. They'll still hunker down and socially distance.

That's why reopening the economy has to be based on mass testing, social tracing and effective containment measures that the former make possible. It has to be based on actually controlling the pandemic (until we have a vaccine or the equivalent.)

Eyup.

One party is calling for a ramp up in testing.

One is blaming China and the WHO in a storm of argle bargle.

Only one of those two narratives is pushing for an actual solution that fits the science.

[RandomGuy]

VC companies with a dozen employees got there first :lmao

The well-banked were heavily favored.

Pelosi is trying to fix that in the next round.

[Thread]

Eyup.

One party is calling for a ramp up in testing.

One is blaming China and the WHO in a storm of argle bargle.

Only one of those two narratives is pushing for an actual solution that fits the science.

Ha! (the science) changes by the hour & by the politics & CNN news writers. It's a fuckin' joke. They're running as fast as they can to stay ahead of the old man and the sorties fired into China. I'd believe them no more than I'd believe the man-in-the-fuckin'-moon.

[leemajors]

The well-banked were heavily favored.

Pelosi is trying to fix that in the next round.

Doubtful, she is just as bad as the rest.

[vy65]

VC companies with a dozen employees got there first :lmao

So there are currently two class actions on this issue - whether banks can prefer their own customers or set their own eligibility criteria. One is in Maryland the other in Houston. The judge in the Maryland class action denied a TRO seeking to stop Bank of America from doing this stuff. Nothing is going on in the Houston case - a status conference is set in July.

The problem is that the CARES Act doesn't provide a private right of action, so it's hard to see how private citizens/businesses have standing to raise any of these issues.

[leemajors]

https://www.wsj.com/articles/ruths-chris-steak-house-gets-20-million-from-coronavirus-aid-program-11586895864?fbclid=IwAR0Mp7OvuEtKsv9KLYejWjVZv2JgZ n9FDbMRqshEldwr7nAGqdsF5Iqta7o


Ruth’s Chris Steak House Gets $20 Million From Coronavirus Aid Program

[baseline bum]

https://www.wsj.com/articles/ruths-chris-steak-house-gets-20-million-from-coronavirus-aid-program-11586895864?fbclid=IwAR0Mp7OvuEtKsv9KLYejWjVZv2JgZ n9FDbMRqshEldwr7nAGqdsF5Iqta7o

Yeah that video I posted rants about them getting that when the limit was $10 million.

[boutons_deux]

Mitch McConnell is the roadblock to a new stimulus bill as Trump sides with Democrats

McConnell has drawn a line in the sand and is refusing to negotiate with Democratic leaders, Sen. Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA)

even though they have a powerful ally: President Donald Trump.

Democrats are pushing for a larger stimulus package that will not only help desperate companies with the Paycheck Protection Program, but also one that

covers “struggling states and municipalities,
financially strapped hospitals, and
families relying on food stamps.”

“President Trump told senators during a phone call Thursday that

he’s open to attaching money for hospitals and state and local governments to an additional $250 billion

for a popular Small Business Administration (SBA) lending program,”

https://www.rawstory.com/2020/04/mitch-mcconnell-is-the-roadblock-to-a-new-stimulus-bill-as-trump-sides-with-democrats-report/ (https://www.rawstory.com/2020/04/mitch-mcconnell-is-the-roadblock-to-a-new-stimulus-bill-as-trump-sides-with-democrats-report/)