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  1. #551
    dangerous floater Winehole23's Avatar
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    The problem isn't the diligence of the applicants, many of whom already went out of business. A bunch of little guys got sucked out to sea in the tide.

    The problem is a government that sees pandemic and suffering as political liabilities rather than opportunities to lead.
    Last edited by Winehole23; 05-20-2020 at 05:37 PM.

  2. #552
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    CBO projects 38% drop in GDP,

    $2.1 trillion increase in the deficit


    The Congressional Budget Office projects GDP dropping 38% in the second quarter as 26 million Americans remain unemployed.


    The forecast is about in line with most Wall Street projections.



    In addition, the CBO sees the federal budget deficit swelling to $2.2 trillion in fiscal 2020.



    https://www.cnbc.com/2020/05/19/cbo-...e-deficit.html

    Pootin's Mitch and Repugs:

    pandemic is over,

    everybody back to work,

    no more stimulus needed,

    HEROES act is DOA, like Trash's impeachment trial




  3. #553
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    Fed minutes show

    fears of ‘extraordinary amount of uncertainty and

    considerable risks’ because of coronavirus

    Minutes from the Fed’s April meeting show deep concern not just about the current state of the economy but what is ahead.

    Officials expressed concern about a second wave of coronavirus infections as well as the impact on lower-income households.

    They also worried about the impact that company bankruptcies might have on the banking sector.

    https://www.cnbc.com/2020/05/20/fed-minutes-released.html

    So we have the public health experts and the financial experts being overridden by Trash and Repug bags



  4. #554
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    As Reopening Starts, Americans Expect Recovery to Take Years

    Even those financially unaffected by the coronavirus shutdown don’t foresee a rapid rebound for the economy,

    Americans don’t expect life — or the economy — to return to normal any time soon.

    Only one in five Americans expects overall business conditions to be “very” or “somewhat” good over the next year,

    Sixty percent said they expected the next five years to be characterized by “periods of widespread unemployment or depression.”

    Economists, who once expected a swift, “V-shaped” recovery, now say unemployment is likely to remain elevated for years.

    Powell, the Federal Reserve chair, and Steven Mnuchin, the Treasury secretary, both warned that further job losses were likely

    Democrats are more pessimistic than Republicans, as they have been throughout President Trump’s term.

    But confidence has fallen sharply among members of both parties.

    https://www.nytimes.com/2020/05/20/business/economy/coronavirus-economy-survey.html

    Thanks, Trash, you destructive, sick mother er




  5. #555
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    Another 2.4 million Americans filed initial unemployment claims last week,

    adding to the ranks of jobless Americans even as states begin to reopen their economies.

    Nearly 40 million people have now lost their jobs since the beginning of the shutdowns in mid-March.

    -- Boston Globe email

    and that's just last week, not all of May





  6. #556
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  7. #557
    Mr. John Wayne CosmicCowboy's Avatar
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    Submit a bill that addresses pandemic relief that was negotiated by both parties without the single party wish list and it would already be passed. Pelosi never intended for that bill to be passed in the Senate as is.

  8. #558
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    Wealthiest Hospitals Got Billions in Bailout for Struggling Health Providers

    Twenty large chains received more than $5 billion in federal grants even while sitting on more than $100 billion in cash.

    A multibillion-dollar ins ution in the Seattle area

    invests in hedge funds,
    runs a pair of venture capital funds and
    works with elite private equity firms like the Carlyle Group.


    But it is not just another deep-pocketed investor hunting for high returns.

    It is the Providence Health System,

    one of the country’s largest and richest hospital chains.

    It is sitting on nearly $12 billion in cash, which it invests, Wall Street-style, in a good year generating more than $1 billion in profits.


    And this spring, Providence received at least $509 million in government funds, one of many wealthy beneficiaries of a federal program that is supposed to prevent health care providers from capsizing during the coronavirus pandemic.

    Twenty large recipients, including Providence, have

    received a total of more than $5 billion in recent weeks,


    Those hospital chains were already sitting on more than $108 billion in cash,


    https://www.nytimes.com/2020/05/25/business/coronavirus-hospitals-bailout.html

    But all you poor mofos, get back to work, risk your health and lives, for ty wages in ty, dead-end jobs




  9. #559
    Take the fcking keys away baseline bum's Avatar
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    Submit a bill that addresses pandemic relief that was negotiated by both parties without the single party wish list and it would already be passed. Pelosi never intended for that bill to be passed in the Senate as is.
    McConnell already said nothing is getting through the senate that doesn't include waiving employees' rights to sue their companies for giving them COVID.

  10. #560
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    Up to 2.4 million people in Texas were denied pandemic relief, including thousands of U.S. citizens

    . Under the CARES Act,

    only taxpayers
    who have a Social Security number are eligible for relief,

    shutting out

    immigrants
    who filed returns using an IRS-issued Individual Tax Identification Number (ITIN)

    as well as their U.S. citizen spouses if they filed joint returns.

    https://www.dailykos.com/stories/2020/5/25/1946438/-Up-to-2-4-million-people-in-Texas-were-denied-pandemic-relief-including-thousands-of-U-S-citizens

    https://www.expressnews.com/news/loc...f-15271457.php

    (Racist) Cruelty Is The Point


    Last edited by boutons_deux; 05-25-2020 at 06:56 PM.

  11. #561
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    The Brutal Clarity of the Trump-McConnell Plan to Protect Businesses

    The liability-protection ruse is an excuse to coerce Americans back to work by refusing desperately needed help.



    https://www.nytimes.com/2020/05/25/opinion/trump-mcconnell-reopening.html



  12. #562
    Kang Trill Clinton's Avatar
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    Anyone here apply for mortgage forbearance and get approved?

  13. #563
    Savvy Veteran spurraider21's Avatar
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    Anyone here apply for mortgage forbearance and get approved?
    nah everybody on spurstalk bought their homes straight cash

  14. #564
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    Pootin's Mitch will it up for the non-oligarchy and makes sure the wealthy oligarchy gets $100Bs of unneeded support.

    Trash, otoh, wants to keep supporting employees and small businesses, thinking they will vote for his rotten carcass.

    If people can't pay rent, 100Ks more homeless, great boost for any in bent President



  15. #565
    Kang Trill Clinton's Avatar
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    nah everybody on spurstalk bought their homes straight cash
    You right, I forgot where I was at

  16. #566
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    A prolonged depression is guaranteed without significant federal aid to state and local governments

    The incredibly steep recession we’re currently in is guaranteed to torpedo
    state and local governments’ ability to collect revenues.

    Further, nearly all of these governments are tightly constrained—

    both by law as well as by genuine economic constraints—

    from taking on large amounts of debt to maintain spending in the face of this downward shock to their revenues.

    The result will be intense pressure for large cutbacks in public spending by state and local governments in coming years.

    Such cutbacks would be absolutely devastating to the cause of restarting the economy and allowing people to find jobs,

    even if the virus has completely abated.

    These subnational governments spend about $4 trillion every year in the economy,

    making them the second-largest source of spending outside of the federal government.

    If they are forced into crash-cutting, the entire economy will suffer.

    And this crash-cutting is unnecessary—

    the federal government has the capacity to transfer resources to these governments to keep this suffering from happening.

    They need to use it.

    https://www.epi.org/blog/a-prolonged-depression-is-guaranteed-without-significant-federal-aid-to-state-and-local-governments/?utm_source=Economic+Policy+Ins ute&utm_campaign =047d47e208-EMAIL_CAMPAIGN_2019_02_22_11_12_COPY_01&utm_medium =email&utm_term=0_e7c5826c50-047d47e208-59312805&mc_cid=047d47e208&mc_eid=3f6f7e5a76

    Will Pootin's Mitch and his Repug accomplices commit a up?



  17. #567
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    nah everybody on spurstalk bought their homes straight cash
    mah nig

  18. #568
    Mr. John Wayne CosmicCowboy's Avatar
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    I have no problem with the federal government printing whatever it takes to reimburse states and cities 100% for their covid costs including do ented loss of tax revenue because of the shutdown and covid caused recession. I do take issues with states wanting bailouts of their unfunded pension obligations.

  19. #569
    my unders, my frgn whites pgardn's Avatar
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    So much MAGA in here that is laughable

    https://apple.news/A3OukBqu-RmGp5z34FQv8pg

  20. #570
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    Fed says so, and now lefties

    A prolonged depression is guaranteed without significant federal aid to state and local governments

    nearly all of these governments are tightly constrained—both by law as well as by genuine economic constraints—from taking on large amounts of debt to maintain spending in the face of this downward shock to their revenues.

    The result will be intense pressure for large cutbacks in public spending by state and local governments in coming years.

    Such cutbacks would be absolutely devastating to the cause of restarting the economy and allowing people to find jobs,

    even if the virus has completely abated.

    https://www.epi.org/blog/a-prolonged-depression-is-guaranteed-without-significant-federal-aid-to-state-and-local-governments/?utm_source=Economic+Policy+Ins ute&utm_campaign =684e44f2fd-EMAIL_CAMPAIGN_2019_04_02_03_08_COPY_01&utm_medium =email&utm_term=0_e7c5826c50-684e44f2fd-59312805&mc_cid=684e44f2fd&mc_eid=3f6f7e5a76

    Pootin's Mitch wants states and cities to go bankrupt so they can abandon their underfunded pension plans, but as with corps, those pension plans would be pickup by the Feds.

    I see Dallas is going to hold an election to raise property taxes

    and no doubt sales-taxing TX and FL will be raising sales taxes



  21. #571
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    40M+, still being laid off, and Pootin's Mitch says no more $$$ for Labor

    Get back to work (there are no jobs, 1000s of companies and their jobs are gone)

  22. #572
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    Paul Krugman Is Pretty Upbeat About the Economy

    In a Q&A, the Nobel-winning economist says the pandemic recovery probably won’t be like the one from the last recession.

    What's happening now is that we've shut down both supply and demand for part of the economy because we think high-contact activities spread the coronavirus.

    It looks as if the private sector surplus has risen by enough to accommodate public deficits, with room to spare -- that is, it's deflationary.

    The fall in demand isn't just households postponing consumption until they can go to restaurants again;

    it's also a crash in construction of houses, commercial real estate and so on.

    Who wants to build an office park in a plague?

    First, anyone who is peddling known zombie ideas like the magical efficacy of tax cuts should be dismissed out of hand.

    Second, anyone who is just rolling out their usual ideas without making allowance for the special nature of the situation shouldn't be taken seriously.

    , it's only worth listening to people making a real effort to grapple with the novelty of this crisis.

    I don't see battling orthodoxies this time around.

    Until now we’ve had two kinds:

    1979-82-type slumps basically caused by tight money and

    the 2007-09 type caused by private-sector overreach.

    The first kind was followed by V-shaped “morning in America” recoveries;

    the second by sluggish recoveries that took a long time to restore full employment.

    the Covid slump is more like 1979-82 than 2007-09

    would suggest fast recovery once the virus is contained.

    But some big caveats.


    One is that we don’t know how long the pandemic will last.

    Right now, we’re probably opening too soon, which will actually extend the period of economic weakness.

    If we didn’t have big imbalances before, the slump may be creating them now.

    Think of business closures, which will require time to reverse.

    right now I don’t see the case for a multiyear depression.

    https://www.bloomberg.com/opinion/articles/2020-05-27/paul-krugman-is-pretty-upbeat-about-coronavirus-economic-recovery

    As we saw with Obama and The Banksters Great Depression,

    once the Dems are in power, the eternally bad faith Repugs will do everything they can (unlike now)

    to lengthen the pain for Americans (about whom THEY DON'T GIVE A ),

    thinking the pained voters will vote Repugs back into power in 2022.




  23. #573
    "The ball don't lie." dbestpro's Avatar
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    There really is a difference between what we call small business in the past and what they call small business today. They should have let the micro-small business to the front of the chow line with application assistance.

  24. #574
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    TALE OF TWO CRISES:

    BILLIONAIRES GAIN

    AS WORKERS FEEL PANDEMIC PAIN


    Between March 18—the rough start date of the pandemic shutdown, when most federal and state economic restrictions were in place—and May 19,

    the total net worth of the 600-plus U.S. billionaires jumped by $434 billion or 15%,

    The billionaires’ worth rose from $2.948 trillion to $3.382 trillion.


    The top five U.S. billionaires—Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett and Larry Ellison—saw their wealth grow by a total of $75.5 billion, or 19%.

    Together they captured 21% of the total wealth growth of all 600-plus billionaires in the last two months.

    The fortunes of Bezos and Zuckerberg together grew by nearly $60 billion, or 14% of the $434 billion total.

    In March there were 614 billionaires on the Forbes list, and 630 two months later, including newcomer Kanye West at $1.3 billion.

    During that same approximate period,

    more than 38 million working Americans lost their jobs,

    nearly 1.5 million Americans fell ill with the virus and

    almost 90,000 died from it.


    Among other COVID-19 victims are the more than 16 million Americans who have likely lost employer-provided healthcare coverage.

    Low-wage workers, people of color and women have suffered disproportionately in the combined medical and economic crises.

    Billionaires are overwhelmingly white men.

    https://americansfortaxfairness.org/...fiteering-wave

  25. #575
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    Sanders and Schumer Respond to

    CBO Estimate Pandemic

    May Cause $16 Trillion in Long-Term Economic Harm

    https://www.commondreams.org/newswir...-trillion-long

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