details of the Republican proposal
bipartisan? The only Dem i could see putting his name on that piece of is Manchin
details of the Republican proposal
Treasury lied about the PPP
So this is dead on arrival, right?
It's Mitch McConnell. If the Dems don't gave him everything he wants, the States, the American people and struggling businesses get zilch.
(I don't believe the Dems will sign anything with corporate COVID-19 immunity. I also tend to doubt they'll sign a bill that small, but we'll see. It's not hard to imagine Joe Biden saying half a loaf is better than nothing.)
All sorts of gotchas in there, including ending emergency authority despite the fact that there's still an ongoing health emergency.
Not to mention that while the corporate immunity doesn't have an end date, the relief for the little guy is only one month (which ends Jan 31st).
I can't think this is going anywhere.
Dead on arrival. Mitch the starting from the bottom as usual.
This 9-month gridlock over a relief package while citizens are dying and going hungry has to be the most disgusting thing I've ever seen Congress do
Obviously.
Not a $ for the unemployed.
But $10B to get women back to work, with initial unemployment claims running 800K/week
============
"More than 20,450,000 people claimed benefits from all programs in the week ending on Nov. 7,
which was an increase of nearly 135,300.
The number last year at the same time was 1,487,844."
https://www.washingtonexaminer.com/p...n-restrictions
Last edited by boutons_deux; 12-02-2020 at 07:00 AM.
The State of the American Office:
Suddenly Emptying Out Again Under the Second Wave
Office occupancy plunged by the most in Dallas.
In San Francisco, where it had already been rock-bottom, it dipped into the single digits.
The second wave of the Pandemic is scrambling whatever efforts had been under way to bring workers back to the office.
Companies are back-tracking, and cities are once again trying to keep office workers – those that were still or again going to the office – from going to the office.
Office occupancy fell broadly in the week through November 25, compared to the prior week, but
the steepest deterioration was in the metros of Dallas, Houston, and Austin, where office occupancy had previously recovered the most.
In the 10 largest metros, office occupancy plunged by 8.1 percentage points from the prior week, to just 17.6% of pre-Pandemic occupancy levels, the lowest since May 6,
https://wolfstreet.com/2020/12/01/th...e-second-wave/
Predictions months ago were for commercial MBS to go bad in 2021. Looks accurate
Last edited by boutons_deux; 12-02-2020 at 07:17 AM.
Face it, our government doesn't represent us. We're just mulctable cows on the farm the masters of business and finance run.
The response of the USA to an epochal pandemic makes it clear the system is arranged to serve private profit, not public good. The de facto US policy of undertesting and herd immunity sans vaccination, plus official COVID-19 misinformation, has led to wholly foreseeable outcomes of mass morbidity and mass death. The desultory support provided to the American people so far has guaranteed mass unemployment, hunger and social dislocation. The resulting financial wipeout is yet another boon to the .01%.
It isn't an aberration. Capitalism is working as designed and our government is there to protect it from democracy.
Last edited by Winehole23; 12-02-2020 at 07:59 AM.
WaPo late to the game
Different Names, Same Address:
How Big Businesses Got Government Loans Meant for Small Businesses
https://www.propublica.org/article/d...all-businesses
It's an old scam, long before PPP:
BigCorp creating "independent" smallcorp to snag SBA loans.
Last edited by boutons_deux; 12-02-2020 at 07:54 AM.
Fed calls for more fiscal stimulus
https://finance.yahoo.com/news/fed-c...215448453.htmlFederal Reserve Chairman Jay Powell praised Congress’s early efforts to stem the economic fallout from the coronavirus pandemic in Senate testimony on Tuesday and suggested that more fiscal stimulus would be needed in addition to the central bank’s monetary support.
“We’ve thought about this collective effort — this government-wide effort — as one that involves getting the people and businesses that cons ute the economy across the chasm created by the pandemic,” Powell said in front of the Senate Banking Committee. “I think frankly, the fiscal policy, particularly the CARES Act, deserves the lion's share of the credit in creating that bridge so far.”
Powell, who has repeatedly called for more action from Congress on relief amid the pandemic, added: “It may be we need more on that front.”
At another point, he stated: “The risk of overdoing it is less than risk of under-doing it ... fiscal support at this point will really move the economy along to guard against those downside risks."
This, unfortunately :/
The checks in the first round were only bribes to get Mnuchin's $5 trillion slush fund , the proposed checks for the second round were only bribes from Trump for the election. There is no way in we're seeing $1200 checks again unless McConnell can get a horrible corporate blowjob that dwarfs the checks put in, as well as employer protection for not protecting their workers from the virus.
Called it.
If Congress somehow manages to pass a small stimulus before inauguration, it would be foolish to think the US Senate would do a bigger one next year -- unless Warnock and Ossoff both win their runoffs.
In that case, passing a smaller stimulus now would look pretty smart.
https://www.newsweek.com/joe-biden-stimulus-mitch-mcconnell-embarrass-1551717Biden told The New York Times that getting a new deal through Congress, even before he takes office, would be a priority....
But Biden told the Times that he was confident he could co-operate with McConnell. "There are a number of things that when McConnell controlled the Senate that people said couldn't get done, and I was able to get them done with [him]. I was able to get them to, you know, raise taxes on the wealthy."
"I think there are trade-offs, that not all compromise is walking away from principle," Biden added. "He knows me. I know him. I don't ask him to embarrass himself to make a deal."
Too early to start hating on POTUS Joe yet?
Not for me, I didn't like him very much to start with.
hrm, me neither
So what "reality" do they connect with?
The reality for them, awealth plutocracy, is exclusively the reality defined and financed by their BigDonor class, both parties.
Citizens' vote is meaningless in how govt is operated, only in getting somebody elected, after which the winner must satisfy the preferences of his BigDonors and conform with the rest of his party which beholden to BigDonor class.
Citizens have NO POWER, total disenfranchisement. But they still believe the myth that Every Vote Counts and myth of American democracy which was NEVER true, false since 1789.
McConnell shoots down bipartisan $900 billion coronavirus stimulus plan as stalemate drags on
- Senate Majority Leader Mitch McConnell rejected a new bipartisan $908 billion stimulus plan put forward in an effort to break the legislative stalemate as the coronavirus surges throughout the country.
- The plan aims to address the expiration of key economic aid programs, including an unemployment insurance extension.
- House Speaker Nancy Pelosi and McConnell have not held talks on a relief bill since the 2020 election.
https://www.cnbc.com/2020/12/01/coronavirus-stimulus-update-senators-to-unveil-relief-bill.html
McConnell was just re-elected by a huge margin approving how he's doing his job.
- About seven million freelancers, contract workers and other Americans who don’t qualify for traditional jobless benefits will lose their emergency aid. On average, it now equals $1,058 a month.
- Close to five million more people who have been out of work for at least six months will also be cut off from aid — which now averages $1,253 a month. The usual limit on jobless benefits is 26 weeks, and a provision that extended it to 39 weeks is expiring.
- Several million people could face eviction from their homes, because a federal moratorium will expire.
- About 21 million people will have to begin making student-loan payments again.
- A tax credit that has given more than 125,000 companies an incentive not to lay off workers will expire. Companies will also lose the ability to defer payroll taxes and take deductions for business losses.
- Aid to state and local governments — $150 billion — will expire. Without more aid, those governments will likely need to make cuts to schools, police forces, health care and other programs.
-- NYTimes email
So it's the Repugs who are actually doing Defund The Police
Moody’s Analytics forecasts that without more aid,
the economy will fall into a new recession early next year,
with the unemployment rate approaching 10 percent.
And Jerome Powell, the Federal Reserve chairman, has said that the history of economic crises suggests Congress usually passes too little stimulus, not too much.
“Some fiscal support now would really help,” STRONG WORDS FORCEFULLY STATED!
Powell told a Senate committee this week.
-- NYTimes email
In Milwaukee County, Wisconsin, for example,
244 families have been evicted from their homes since September 4.
Just last week, landlords filed 2,358 eviction cases in 27 cities
"lifting [eviction] moratoriums amounted to an estimated 433,700 excess cases and 10,700 excess deaths" between March 13 and September 3.
The infections and fatalities occurred across "27 states that lifted eviction moratoriums" during the study period.
In Texas alone, the study found there were 4456 excess deaths after the state lifted its eviction moratorium on May 18.
, unpaid rent continues to accrue — once the moratorium expires in January,
renters will be expected to pay back their rent in full along with any late fees.
In other words, without rental assistance, the moratorium will end with an avalanche of evictions.
Come January, many may find themselves homeless in the middle of the still-raging pandemic.
an estimated “8.4 million renter households, which include 20.1 million individual renters, could experience an eviction filing” in January.
there has been a “70% percent increase from last year in people paying rent on a credit card,” reports NPR.
“If you're putting your rent payments on to a credit card, that shows you're really at risk of eviction.
That means you've run out of savings; you've probably run out of calls to family members to get them to loan you money,”
-- Popular Information email
... and paying 20% interest on your rent bill paid on credit
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