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your call will be answered in the order received
https://www.jsonline.com/story/news/...ed/3529690001/
yep, distressed property will see vulture Capitalists pick over the carcasses, esp commercial.
your call will be answered in the order received
https://www.jsonline.com/story/news/...ed/3529690001/
Coronavirus Recession is NOT bottoming out –
new jobless insurance claims hit 1.5 million again
http://redgreenandblue.org/2020/09/2...t-1-5-million/
Half of Americans who lost their job during the pandemic still don’t have one
The finding comes in a new Pew study that also found many Americans struggling to pay bills.
while 58 percent of upper- and middle-income adults who lost a job due to the coronavirus have returned to their old job or gotten a new one,
only 43 percent of lower-income adults have been able to do the same.
https://www.vox.com/policy-and-polit...mployment-rate
stimulus negotiations seem to have started
- Reinstate the $600 per week enhanced unemployment benefit through January
- Send a second $1,200 direct payment to most Americans
- Give $436 billion in relief over one year to state and local governments
- Authorize more money for a second round of Paycheck Protection Program loans for the hardest-hit businesses and industries
- Send $25 billion to airlines to cover payroll costs
- Inject $75 billion into Covid-19 testing and contact tracing efforts
- Put $225 billion into education and $57 billion into child care
- Set aside billions for rental and mortgage assistance
https://www.cnbc.com/2020/09/29/pelo...-talk-as-.html
Not quite dead yet.
Moscow Mitch is reducing it to uselessness, "very far apart", and will probably block it completely until after the election
Survey shows 60% of US families struggling to get by as McConnell dismisses new COVID-19 relief bill
On the Senate floor Wednesday, Majority Leader Mitch McConnell indicated once again that
he has no intention of providing badly-needed aid to struggling families across the U.S.
even as new research found that nearly two-thirds of households with children are having trouble making ends meet.
McConnell dismissed the Democratic Party's latest version of the HEROES Act as a "political stunt,"
making it clear that like the bill which passed in the House in May—which has now languished in the Senate for 138 days—the $2.2 trillion relief package which House Democrats unveiled on Monday ...
is not likely to reach the millions of families who need it.
the results of a survey taken in July and August of 3,400 adults including 1,000 with children at home, finding that
60% of respondents in the latter group have lost jobs or businesses or have otherwise had their incomes reduced since the coronavirus pandemic began in March.
Sixty-one percent of families reported having "serious financial problems" during the public health and economic crisis.
Just over half of white families said they have been facing severe difficulties affording necessities like mortgages or rent, credit card bills, groceries, and medical expenses,
while a higher share of people of color reported trouble making ends meet.
Eight-six percent of Latino families and 66% of Black families said they are facing serious economic strife.
"The numbers of people in trouble, that is the shock,"
"It's a very large number of people who can't pay the basics."
long-term impacts of the crisis on the children of families who are struggling, as school-age children face social isolation due to remote schooling while also coping with their parents' financial hardships.
https://www.alternet.org/2020/10/survey-shows-60-of-us-families-struggling-to-get-by-as-mcconnell-dismisses-new-covid-19-relief-bill/
BigFinance will buy Mitch another term, as quid pro quo for reducing taxes, adding loopholes.
Job Cuts Continue at Staggering Pace
Unemployment claims show little relief from pandemic layoffs.
American employers continue to cut jobs at rates that dwarf the pace of layoffs in past decades, even as the economy crawls forward from the coronavirus-induced recession that began last spring.
The Labor Department reported Thursday that 787,000 Americans filed for state unemployment benefits for the first time last week, a decline from the previous week’s total of 827,000. These figures, unadjusted for seasonal variations, are
roughly four times the weekly tally of claims from before the pandemic.
Applications for Pandemic Unemployment Assistance, an emergency federal program aimed at independent contractors, gig workers and part-time employees, totaled 650,000.
“It’s unclear how many companies can sustain themselves and retain payrolls that support incomes,”
“A solid rebound in job growth is now looking more muted.”
Disney, whose theme parks in Florida and California have been hard hit by a shortage of visitors, said Tuesday that it would lay off 28,000 workers.
https://www.nytimes.com/live/2020/10...ay-coronavirus
American and United cutting 32,000 jobs as federal aid plans stall
https://www.cnn.com/2020/09/30/busin...uts/index.html
When Capitalists own and operate the govt For The Capitalists, Capital will always screw Labor.
What is the role of govt if not to solve problems and help the country in distress?
(rather than helping the country INTO distress)
Last edited by boutons_deux; 10-01-2020 at 08:54 AM.
10/1/2020 the day of reckoning is here.
Eviction moratoriums end.
Airline layoff restrictions end.
Down the hole we go!
Yippeeeee!
Ruh roh. Big businesses flailing. Stimulus incoming confirmed.
.
Last edited by TimDunkem; 10-01-2020 at 08:06 PM. Reason: double post/shitty internet
Millions of Americans risk losing power and water
as massive, unpaid utility bills pile up
More than 179 million people may be at risk for shut-offs as many state protections end.
https://www.washingtonpost.com/business/2020/10/01/power-water-gas-bills
"companies such as
Disney and
the insurance provider Allstate
plan to lay off thousands
of workers before the end of the year,
undercutting hopes that the economy will rebound quickly from its collapse in the spring."
-- WAPO email
I wonder how many unemployed will still vote Repug?
Here’s what the latest $2.2 trillion stimulus bill from Democrats includes
The updated HEROES Act provides another round of stimulus payments of up to
$1,200 to individuals earning an adjusted gross income of up to $75,000 and
$2,400 for couples earning up to $150,000,
as well as an additional $500 per dependent,
which includes full-time students below age 24 and adult dependents.
The new legislation restores the $600 weekly enhanced federal unemployment payments through January 2021.
Democrats also aim to provide a transition period at the end of January 2021 to prevent unemployment benefits from abruptly ending before March 31.
The bill also extends the Pandemic Unemployment Assistance program, which specifically covers business owners, self-employed Americans, gig workers and independent contractors who are not typically eligible for unemployment, through January 2021.
Democrats are proposing a new program called Pandemic Emergency Unemployment Extension Compensation, which would provide up to 13 additional weeks of federally financed unemployment benefits to any individual who exhausts state or federal unemployment benefits before January 31, 2021.
The bill also earmarks $925 million to assist states in processing unemployment insurance claims.
To help “keep over 2.2 million families stably housed,” Democrats earmarked $4 billion to public housing agencies (PHAs), including $1 billion for vouchers for those who are homeless or at risk of becoming homeless,
The legislation allocates $5 billion for homeless assistance grants and $50 billion to provide emergency assistance to low-income renters who may be at risk of homelessness due to eviction.
It also gives $100 million to the Neighborhood Reinvestment Corporation (NeighborWorks) to support housing counselors in providing increased services, including foreclosure and eviction mitigation counseling.
Yet to trim the legislation cost from the proposed $3.4 trillion to $2.2 trillion,
Democrats cut funding for state, local and tribal government support,
as well as reduced funding to the U.S. Postal Service.
https://www.cnbc.com/2020/09/29/whats-included-in-democrats-latest-coronavirus-relief-bill.html
Corporate consolidation was hastened by COVID-19 and the CARES Act
https://www.nytimes.com/2020/09/30/b...the-world.htmlThe next six months could witness one of the biggest consolidations of corporate power in the United States in almost a century, yet a variety of legal and economic factors may leave the federal government unable to stop it.
The essence of the problem is that during the extended economic crisis created by the coronavirus pandemic, many large companies — and especially their stock market values — have been growing rapidly while their small business compe ors have faced something of an apocalypse. More than 400,000 small businesses have already closed and millions more are at risk.
Indeed, the death of these compe ors may be part of why the stock market is up so much from its low point in March. Whether the sector is technology, home building, pharmaceuticals or telecommunications, investors seem thrilled with the prospect that big companies will eventually see an expansion of demand but not face as much compe ion. The stock market’s growth has been disproportionately concentrated among the biggest publicly traded firms.
"consolidations of corporate power"
The Capitalist oligarchy's vampire squid will suck the non-oligarchy dry, citizens enslaved in permanent financial precarity, paying interest on debt, if not outright poverty, desperation forcing them to take ty pay and ty jobs.
https://apple.news/AKsmDB4RfTeaWZ1dyx1ogSg
hey red team
let’s all get sick and do nothing.
G
small businesses taking it on the chin
https://wolfstreet.com/2020/10/06/tw...est-rate-ever/From March through mid-July, over 420,000 small businesses – or 7.1% of all small businesses – permanently and quietly closed their doors, more than typically in an entire year, according to a study by Brookings, released in September.
The analysis found that “many small businesses are financially fragile and not equipped to weather a prolonged period of substantially reduced revenues”:
- 47% rely on personal funds of the owner to fill a two-month revenue drop.
- 88% rely on the personal credit score of the owner (such as working capital funded by personal credit cards).
- Only 44% have had a bank loan over the past five years.
Small businesses account for about 99% of all businesses in the US and about 47% of jobs in businesses. If these 420,000 businesses are representative of national employment, “this means we have lost at least 4 million jobs that will only return with the creation of new businesses,” the report said.
Small businesses are prone to failure. But also many new small businesses are being created. This process of new businesses being created has now restarted strongly, but has been far outstripped by the tsunami of business closures. The report:
Even if for the remainder of the year losses simply keep pace with those in previous years, we will see a doubling of the ordinary annual rate of small business losses to more than 700,000 (or 12 percent).
That likely optimistic scenario would see around 50 percent more business losses than at the peak of the Great Recession, and the largest loss of small businesses since records began in 1977.
Maybe it’s time small business owners stop falling for the bull about how the GOP is the party that cares about small businesses.
Don’t get mad about austerity when you’re laser focused on paying as little taxes as possible when times are good without considering what happens when times get tough.
As job loss strips Americans of health insurance, diabetics turn to insulin-sharing underground
The people in the networks share extra insulin for free when they have it.
https://www.dallasnews.com/business/...g-underground/
There probably have been insulin deaths, and there will continue to be more collateral deaths from The Trump-Made Pandemic catastrophe, as Moscow Mitch plays politics and doesn't give the tiniest about the suffering and deaths he is DIRECTLY causing.
Another class of collateral deaths that increasing from opioids as stress pushes people to relief.
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