OT: COVID-19- March 17 2020 - No politics! Read post #1

[Fogelhund]

Former Trump economist warns of another Great Depression - CNN Video

 

[thewave]

It may be already here.
About 1,000,000 Ontarians work in hospitality.
My guess is no one will report how bad things are right now.
Who knows maybe 1M Ontarians with go on EI very soon. Maybe even more as other industries are affected too.
10% is a given today. Could we get to 25% soon?
Anywho the govt will have to print more money until this thing is over.
Most of these job layoffs will all come back as soon as bans are opened up again.

I don't know how we get around this without collapsing the whole thing. I mean, just thinking of scenarios you'd have to stop debt payments and just force a limit on CC's $5k or something for supplies which will be held over. Mortgages and Credit lines and rent has to come full stop though, that means no interest on standing loans etc. I am sure there are a million other problems that come along with that but it's better than mass defaults.

You could probably get by a couple mths with that alone. Utilities and things like that will need paid but you could offset that a little by increasing it to 90 days to pay.

 

[yubbers]

Former Trump economist warns of another Great Depression - CNN Video

I love how CNN still tries to call things :p

 

[thewave]

I love how CNN still tries to call things :p

They won't let the empire fall. They'll go to war to save it, that or change will come and Americans with guns in the country will fight with Liberal cities.

 

[Rants Mulliniks]

I was watching an interesting program about the great depression in the usa. During that event is where welfare as we know it came along. But what was stagerring is that people felt shameful for receiving money from the government. 40% of people who got money from the government ended up paying it back as a choice. It was a different mindset. Also it wasnt a credit driven society and people had savings at the begining. The government actually borrowed from the people at times. Was neat to see how the pendulum shifted. Im guessing there may not have been bailouts as well.

Different mindset for sure but also have to realize people weren't taxed then as they are now. Income tax, for instance, was a war time measure but they liked it so much, they kept it in place. If you compare the percentage of your cheque that you see versus even in the 80's, it's staggering and a big reason behind forcing people to rely on credit. I would guess after all the various taxes and deductions, I receive about 40% of my pay cheque.

 

[Rants Mulliniks]

Ate there other people out there like me who only get sick once or twice every 10 years? Most of my friends get sick once or twice a year and im curious to know if thats the norm. I remember some people missing weeks of school in a year when they were sick. Or if I wanted to call a friend up to play sports and they were sick, I had to find some other friend to play with.

Haven't been sick in 20 years (knock wood).....

 

[PromisedLand]

For up to date information on COVID-19, the following resources are available:

World Health Organization
Coronavirus

Health Canada
Coronavirus disease (COVID-19) outbreak updates, symptoms, prevention, travel, preparation - Canada.ca

from that health Canada website with number of probable cases v’being « zero » in most provinces; I think we can say improvement?

 

[Rants Mulliniks]

I have a really active lifestyle which i guess helps. But I'm far from a health nut. Hell, I hack darts occasionally. I give credit to running around a farm often as a kid The dirt is like 30% poo

Yup. I don't think people realize what a disservice they do to their kids and their immune systems by sanitizing the world to death.

 

[ShaneFalco]

Haven't been sick in 20 years (knock wood).....

What's your secret?

 

[PromisedLand]

Former Trump economist warns of another Great Depression - CNN Video

i don’t agree with this analysis.

The Great Depression was a completely different beast. This is a minor blip in the economic function; demand is not being impacted. Once the virus is dealt with demand will increase and supply will increase to match it, that is, job creation etc...

 

[PromisedLand]

Yup. I don't think people realize what a disservice they do to their kids and their immune systems by sanitizing the world to death.

I have seen this with my own eyes. And I completely agree!!!

 

[Bluelines]

i don’t agree with this analysis.

The Great Depression was a completely different beast. This is a minor blip in the economic function; demand is not being impacted. Once the virus is dealt with demand will increase and supply will increase to match it, that is, job creation etc...

Governments will offer huge bailouts so billionaires can stay billionaires, they will leave their money where the nation needs it and Bob is your uncle, no depression.

The car companies and Wall Street got the huge bailouts last time, who gets them this time?

 

[thewave]

i don’t agree with this analysis.

The Great Depression was a completely different beast. This is a minor blip in the economic function; demand is not being impacted. Once the virus is dealt with demand will increase and supply will increase to match it, that is, job creation etc...

He is probably right, honestly they haven't even taken the measures to stop individuals from losing everything. Small business is going to collapse, bills are still being issued with the expectations of being paid on time. Personally I am seeing a lot of hints that this is going to turn into a war of necessity to keep the empire alive. They pretty much need to go shooting oil fields to save Shale and the oil sands along with the Petro US dollar.

 

[PromisedLand]

Governments will offer huge bailouts so billionaires can stay billionaires, they will leave their money where the nation needs it and Bob is your uncle, no depression.

The car companies and Wall Street got the huge bailouts last time, who gets them this time?

as long as the bailouts are to the firms where products are produced and to the other firms where servies are delivered to households via the products produced and not financial sector it will be fine.

Current transfers are to the people and small businesses so that is a move in the right direction

 

[thewave]

Governments will offer huge bailouts so billionaires can stay billionaires, they will leave their money where the nation needs it and Bob is your uncle, no depression.

The car companies and Wall Street got the huge bailouts last time, who gets them this time?

The FED already made a statement that Companies that need a bailout will have to offer up stocks as collateral. Subscribe to read | Financial Times
Fed to lend against stocks and bonds in bid to stabilise markets

 

[PromisedLand]

He is probably right, honestly they haven't even taken the measures to stop individuals from losing everything. Small business is going to collapse, bills are still being issued with the expectations of being paid on time. Personally I am seeing a lot of hints that this is going to turn into a war of necessity to keep the empire alive. They pretty much need to go shooting oil fields to save Shale and the oil sands along with the Petro US dollar.

don’t agree with this analysis. This is only true when only one country is suffering; not true if every country (major ones at least) are going through it.

One cannot get more closer to cetris paribus analysis as the current economic climate

 

[TheTotalPackage]

I know he is polarizing, but I've thought Doug Ford has handled this situation as well as he could, and sounding genuine and well spoken throughout.

 

[PromisedLand]

I know he is polarizing, but I've thought Doug Ford has handled this situation as well as he could, and sounding genuine and well spoken throughout.

btw I could not wrap my head around as to why they fired Toronto’s emergency manager.

in any event, when it comes to people’s lives eventually people who care show up to work regardless of their political or personal beliefs

 

[thewave]

The drug I posted here earlier is looking good people! Let's get back to normal ASAP!

 

[JT AM da real deal]

We better get da legislation done so we know the business funding will look like. No one has a freakin clue right now. It all sounds good but until legislation drafted and people know what is really going on NOT a nickel has gone out yet.

Only thing really happening on funding has been EI. My buddies kid went to put in his application after being laid off as a server. He was told he would be maxed out at 573 per week for 45 weeks or sooner if the lockdown is removed. That is what the front line EI people are saying. He told them his rent downtown was $2.5K per month for a 2 bedroom for wife and kid. They said well that is all we can do.

And this is what is really NOT FAIR. This young family is now effectively living on their card card. We need to ENHANCE EI ASAP. Get paid what we were before the lockdown. Complete BS here.

 

[rumman]

I know he is polarizing, but I've thought Doug Ford has handled this situation as well as he could, and sounding genuine and well spoken throughout.

sad to see the NDP leader taking run's at the premier, he's doing a fantastic job imo. Now is not the time to be putting politics first.............

 

[rumman]

CTV's news is pushing that younger people are not immune to becoming sick with this virus, I hope they heed this news?

 

[thewave]

We better get da legislation done so we know the business funding will look like. No one has a freakin clue right now. It all sounds good but until legislation drafted and people know what is really going on NOT a nickel has gone out yet.

Only thing really happening on funding has been EI. My buddies kid went to put in his application after being laid off as a server. He was told he would be maxed out at 573 per week for 45 weeks or sooner if the lockdown is removed. That is what the front line EI people are saying. He told them his rent downtown was $2.5K per month for a 2 bedroom for wife and kid. They said well that is all we can do.

And this is what is really NOT FAIR. This young family is now effectively living on their card card. We need to ENHANCE EI ASAP. Get paid what we were before the lockdown. Complete BS here.

Quarantine the old who are at most risk and lets get back to normal! ASAP. Start manufacturing the drugs and lets go and get it done yesterday.

 

[Rants Mulliniks]

What's your secret?

Don't really know. I often wondered if in my military days they injected me with something (LOL)? We used to be in line for clothes and they'd be like "roll up your sleeve", plunk a needle in one arm, "roll up your other sleeve", plunk a needle in the other arm never saying a word of what they were doing. LOL.

If anything, I would say growing up on farms and being exposed to everything under the sun.

 

[Rants Mulliniks]

I thought he was talking about brushing his teeth but now I think he is a little further south....?

He be in the deep South.