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  1. #1201
    dangerous floater Winehole23's Avatar
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  2. #1202
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    McConnell reportedly warned White House against passing stimulus bill before the election
    Senate Majority Leader Mitch McConnell (R-Ky.) has reportedly shut down all hope of passing a COVID-19 stimulus bill in the next two weeks.

    Discussions regarding the next relief bill have gone on for months with no actual results after the last package — and the boosted unemployment insurance that came with it — expired after July. But despite Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi (D-Calif.) continuing discussions Tuesday, people familiar with the discussions say McConnell has called the whole thing off, The New York Times reports.

    Mnuchin and Pelosi have been in talks for weeks, with Pelosi setting Tuesday as a deadline for both sides getting their "terms on the table." Yet negotiations didn't end as Democrats try to work at least $2 trillion in funding from the White House; Mnuchin offered up a $1.8 trillion package on Monday. McConnell meanwhile said Tuesday "if a presidentially supported bill clears the House at some point we'll bring it to the floor." But behind closed doors in a lunch with Senate Republicans, McConnell reportedly said he told the White House not to accept anything until after the election. He's looking to avoid making Republicans up for re-election avoid the "difficult choice of defying the president" by voting against the bill or "alienating their fiscally conservative base" by approving it, the Times reports.

    President Trump had previously said he was ending the stimulus talks until after the election, only to change his mind just a few days later. McConnell has been pessimistic about negotiations for weeks.

    https://news.yahoo.com/mcconnell-rep...213424716.html

    ---

    Taking it with a grain of salt due to unnamed sources, but wouldn't surprise me one bit.

    I mentioned a while back that I think the biggest hurdle for any meaningful stimulus passing is getting the Senate votes.

  3. #1203
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    And of course, it's Nancy's fault

    Prospects for coronavirus relief bill dim

    as McConnell urges White House to reject deal


    https://www.washingtonpost.com/natio...ve-updates-us/



  4. #1204
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    A Short History of the ‘On Again, Off Again’ Fiscal Stimulus Negotiations

    McConnell & friends looked around and it appeared big business and corporations and banks were doing just fine by June–even if small business and working households were not.

    McConnell, Trump and their business cons uencies didn’t need more stimulus. Indeed, they didn’t even need the Cares Act.

    The unemployment, checks and grants amounted to government spending of only $1.2 trillion of the Cares Act’s $3 or so trillion. That $1.2 trillion was, and remains, the only actual spending to hit the economy,

    since the $1.1 trillion in loans to large-medium corporations has never been actually ‘taken up’ and spent into the economy by business.

    Ditto for the $650 billion in business tax cuts in the Cares Act.

    So only a little more than a third of the Cares Act resulted in any economic spending.

    today’s 2020 Great Recession 2.0 is four times deeper in terms of economic contraction compared to 2008-09.

    And it’s still only an effective 5.5% spending package as contained in the March Cares Act.

    https://www.counterpunch.org/2020/10/21/a-short-history-of-the-on-again-off-again-fiscal-stimulus-negotiations/

    iow, Moscow Mitch's primary oligarchy/BigDonor class was OK, so no need to help anybody else.



  5. #1205
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    CBRE forecast:

    SA hotels could feel pandemic collapse through 2024

    More than half of the city's hotel rooms are expected to remain empty on average over the next four quarters.

    -- SA Business Journal email / paid site

  6. #1206
    dangerous floater Winehole23's Avatar
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    who's got a turd in their briefacse?


  7. #1207
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    Nearly 12 Million Square Feet of Vacant Office Space in S.F.



    http://socketsite.com/archives/2020/...ce-in-s-f.html
    Last edited by boutons_deux; 10-25-2020 at 09:51 PM.

  8. #1208
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    ...

  9. #1209
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  10. #1210
    dangerous floater Winehole23's Avatar
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    In the third quarter (historically the industry’s most profitable quarter), the Big 4 US airlines reported a GAAP net loss of $10.8 billion (versus $10.6 bn in the second quarter) and a GAAP operating loss of $12.3 bn (versus $10.5 bn in the second quarter.) As the table below shows, these carriers are still $17.5 billion below operating breakeven and $10 billion below cash breakeven.





    After second quarter results were released, Southwest CEO Gary Kelly said that revenues would need to double in order for Southwest (the financially strongest carrier in the industry) to reach cash breakeven. Kelly illustrated the industry’s lack of improvement in the third quarter by saying Southwest still needed revenue to double in order to reach cash breakeven. [2]
    https://www.nakedcapitalism.com/2020...new-phase.html

  11. #1211
    dangerous floater Winehole23's Avatar
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    Between taxpayer subsidies (out of the $50 billion CARES Act funding) and new debt instruments, these four carriers have raised $73 billion since the beginning of the crisis, accounting for all (or nearly all) of their claimed September 30thliquidity. Thus current operations would not be possible without this magnitude of new funding.

  12. #1212
    dangerous floater Winehole23's Avatar
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    $50 billion in extractive stock buybacks that badly hurt the industry’s ability to cope with the demand collapse.

  13. #1213
    dangerous floater Winehole23's Avatar
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    The only voices in Washington dissenting from the “airline subsidies create huge economic benefits” consensus were a few conservative Republicans. “For the past six months, the American taxpayers have spent $25 billion covering the payroll obligations of passenger airlines. No other Fortune 500 companies—including restaurant groups, transportation firms, hotel chains, or entertainment businesses—have received taxpayer-funded grants…The excess capacity of the airline sector will not be resolved in the near future and continuing to force the entire payroll obligation onto the taxpayers is not sustainable.”

  14. #1214
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    I did just buy first class tickets at a discount for the holidays... so there's that

  15. #1215
    Kang Trill Clinton's Avatar
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    I did just buy first class tickets at a discount for the holidays... so there's that
    What airline and was it December? I was looking for flights to Atlanta in November and the prices are ridiculously high.

  16. #1216
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    What airline and was it December? I was looking for flights to Atlanta in November and the prices are ridiculously high.
    American, mid December to early January... not a long flight... LAX to MFE via Dallas.

    Paid $920/person... Last couple of years I've paid ~$600, plus the 100 bucks they charge your for bags, so this looked like a great deal and gets us extra spacing.

    According to Google I saved $700 over regularly priced first class tickets.

  17. #1217
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    Despite CDC Moratorium—and With Help From White House—Corporate Landlords Have Gone on Eviction Spree

    "The e in homelessness that results from the absence of continuing tenant protections in the Covid era spells disaster for too many Americans."

    wealthy corporate landlords have blatantly ignored the order, issuing eviction notices to thousands of tenants across five states

    in 23 counties across Arizona, Florida, Georgia, Tennessee, and Texas, corporate management companies run by deep-pocketed financial firms evicted or tried to evict nearly 10,000 tenants between early September and October 17.

    The Trump administration, though, made it even easier for wealthy companies to continue evicting tenants this month when

    it issued new guidance saying landlords can challenge tenants' claims that they are eligible for the moratorium.

    the eviction ban would be less stringent for corporate landlords to follow—and more punitive to struggling renters.

    https://www.commondreams.org/news/20...-gone-eviction



  18. #1218
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    Lmao how badly do republicans want to lose the senate by?

    The turtle just adjourned the senate until November 9th which means to money relief for the people who are literally on life support and depending on food banks to get by day to day.

  19. #1219
    A neverending cycle Trainwreck2100's Avatar
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    Lmao how badly do republicans want to lose the senate by?

    The turtle just adjourned the senate until November 9th which means to money relief for the people who are literally on life support and depending on food banks to get by day to day.
    they don't care and they're banking on the red states being stupid and voting to keep them in, he got his judge and that's the only power they care about

  20. #1220
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  21. #1221
    Mr. John Wayne CosmicCowboy's Avatar
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    soooo....ROKHANNA is going to cure Covid and end the shutdowns by getting elected to Congress?

  22. #1222
    Alleged Michigander ChumpDumper's Avatar
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    soooo....ROKHANNA is going to cure Covid and end the shutdowns by getting elected to Congress?
    Looks like feeding kids might be easier to accomplish since that's what he's talking about.

  23. #1223
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    San Antonio ranks fourth among cities for worst financial distress


    https://www.mysanantonio.com/news/lo...l-15678067.php

  24. #1224
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  25. #1225
    dangerous floater Winehole23's Avatar
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    Looks like feeding kids might be easier to accomplish since that's what he's talking about.
    CC: nothing but strawman and bull .

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