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

[thewave]

yea...those 1 percenters also need the money

If you're in the top 20% you can weather this storm. If you are the 80% your results may vary but most likely you are losing your home if it goes on 3-6mths without income. If the supply chain is still broken for another month business' are going to be folding. That will cause the chain reaction that collapses the US system for good as the GOV will have to manage housing.

Basically, USA is in crisis and collapsing at the same time a virus with mixed messages around it is on the loose. That's what I see and that means they will start printing money like the Wiemar Republic soon.

NOTE! Lucky for you I am a stupid puck head!

 

[stickty111]

Oh boy

 

[Big Muddy]

For investments, defined contributions and defined benefits all will suffer and I suspect many at risk.

And, no unemployment insurance for retirees either. CPP/OAS (and social security in the U.S.) doesn't go very far in terms of paying bills.

 

[Burnie97]

Saw this from mirtle thought a little hockey talk in here might be good.

Anyway that seems a bit much. Even if it gets to that point... why not just do points percentage or a 3 game playoff for bubble teams.

It's the players proposal apparently too.

 

[PromisedLand]

If you're in the top 20% you can weather this storm. If you are the 80% your results may vary but most likely you are losing your home if it goes on 3-6mths without income. If the supply chain is still broken for another month business' are going to be folding. That will cause the chain reaction that collapses the US system for good as the GOV will have to manage housing.

Basically, USA is in crisis and collapsing at the same time a virus with mixed messages around it is on the loose. That's what I see and that means they will start printing money like the Wiemar Republic soon.

I am sure in the states with IRS, BLS and BEA and in Canada with CRA and Statistics Canada; they can use the demographic infomration: Income (family, single) and family size (single, dependents) and come up with a plan to make arrnagements of pay based on the data.

Whether they do that or not is not sure.

Easy way to prorate this analysis to use the most recent CENSUS information to arrange payments where all level of governments can partner up in delivering the dollars.

OR

they can do what France just did.

It is a global pandemic so IMO the economic impact will be felt by all anyway; question is when the governments finance this by borrowing who are they borrowing from?

 

[PromisedLand]

Saw this from mirtle thought a little hockey talk in here might be good.

Anyway that seems a bit much. Even if it gets to that point... why not just do points percentage or a 3 game playoff for bubble teams.

It's the players proposal apparently too.

I;d they seed the playoff birth based on pts% and then move on if situation gets better; if not just cancel the season altogether.

OR

they can do this plan for Aug-Sep; and have a shortened season starting in December for 2020-2021

 

[Burnie97]

I;d they seed the playoff birth based on pts% and then move on if situation gets better; if not just cancel the season altogether.

OR

they can do this plan for Aug-Sep; and have a shortened season starting in December for 2020-2021

Yeah that seems reasonable. Otherwise definitely way to crammed in.

 

[ULF_55]

I am sure in the states with IRS, BLS and BEA and in Canada with CRA and Statistics Canada; they can use the demographic infomration: Income (family, single) and family size (single, dependents) and come up with a plan to make arrnagements of pay based on the data.

Whether they do that or not is not sure.

Easy way to prorate this analysis to use the most recent CENSUS information to arrange payments where all level of governments can partner up in delivering the dollars.

OR

they can do what France just did.

It is a global pandemic so IMO the economic impact will be felt by all anyway; question is when the governments finance this by borrowing who are they borrowing from?

Grand kids.

 

[PromisedLand]

Not okay, boomer: Tensions mount between generations as some seniors resist social distancing



stupidity does not know any age demographics apparently be it the young students of Queens University or old folks who just keep their daily schedule regardless of what the government is requesting.

 

[Big Muddy]

Grand kids.

Ya, they'll be attempting to pay that off for decades.

 

[PromisedLand]

Yes, for retirees (15% of population), both the stock market ugliness & no interest on fixed return assets is a bad cocktail.

CPP and OAS can always be adjusted/tweaked to help these cases.

I mean the choices are we ignore the warnings and go with business as usual to maintain the economy

OR

heed the warnings and take the short-term hit; and then gather steam when things get better. I am sure the global demand would explode after few weeks/months of no significant economic activity feeding these investments.

Only folks who are in kind of a bad luck of the draw so to speak are the ones that wanted to cash out these investments right about now to enjoy their retirement and the value of these investments in the immediate future is not lucrative at all.

 

[PromisedLand]

Grand kids.

but thats a helluva lot of borrowing

 

[PromisedLand]

Yeah that seems reasonable. Otherwise definitely way to crammed in.

I guess it will depend on how much money the owners want to lose. Player contracts if am not mistaken are binding i.e. even if it is a shortened season the Matthews, Marners, McDavids etc... of the league still get paid their full annual salary. With league revenues taking a hit; it will be interesting to see how owners and the league respond.

If the ticket prices are doubled (or increased to whatever) to recuperate some of the lost revenue how many folks are going to go to the game?

I hardly ever go to the game because it is too damn expensive already

 

[Legion34]

I;d they seed the playoff birth based on pts% and then move on if situation gets better; if not just cancel the season altogether.

OR

they can do this plan for Aug-Sep; and have a shortened season starting in December for 2020-2021

it all depends on the TV contracts. Some have said that the NHL needs to fulfil those games to get money.

the ONLY thing they will care about is getting Money as much as possible. If the reg season makes the most money (31 teams and tv) that’s what they will do.

 

[PromisedLand]

Cases in Canada are beginning to accelerate a bit. 478 cases now.

There were 13,000 new cases added worldwide yesterday, 15,000 new cases added so far today. 198,000 total

Nova Scotia also had their first confirmed case today. Newfoundland and territories are the only ones where there have been no confirmed cases.

 

[Big Muddy]

CPP and OAS can always be adjusted/tweaked to help these cases.

I mean the choices are we ignore the warnings and go with business as usual to maintain the economy

OR

heed the warnings and take the short-term hit; and then gather steam when things get better. I am sure the global demand would explode after few weeks/months of no significant economic activity feeding these investments.

Only folks who are in kind of a bad luck of the draw so to speak are the ones that wanted to cash out these investments right about now to enjoy their retirement and the value of these investments in the immediate future is not lucrative at all.

I'd wonder how much support an increase to the entitlement programs (as they are called in the U.S.) would get. I guess things could always change - maybe.

 

[JT AM da real deal]

This virus will affect people of all ages... even young people with no additional risk factors.

It is not possible to keep the economy going with the virus spreading.

Either we shut down the economy when there are a few thousand cases (yes, I know that only hundreds are confirmed at this point, but the real number is in the thousands)... or you shut it down when you have tens of thousands or hundreds of thousands of cases. If you never shut at all, you will get a complete collapse and anarchy.

The longer we wait to shut down, the worse the economy will get and more people will die.

I don't think we will have complete collapse. But we will have an overrun of our health care system and panic in streets. This is the real issue GOV is trying to stop.

We could let the thing run its course with economy going strong and in 1-2 months 70% will get it and 3.4% will die. Doctors will be making decisions like in Italy where GOV waited too long.

I can't see how in a civilized society we can allow that to occur. Everyone of us will be affected in some way. It will get into your home somehow. On the other hand it can't be stopped so unless we stop community activities it will get going again at some point right. So in my mind you do best you can for the common good and the virologists need to be humping on a cure or a vaccine. Otherwise nothing returns to normal right.

 

[Warden of the North]

Nova Scotia also had their first confirmed case today. Newfoundland and territories are the only ones where there have been no confirmed cases.

Newfoundland has a case, a couple days ago

 

[PromisedLand]

I'd wonder how much support an increase to the entitlement programs (as they are called in the U.S.) would get. I guess things could always change - maybe.

I mean things did change in Canada recently when some rules were modified as to when one can apply for OAS and CPP based on when one was born and how the payments would be impacted as to when one applies to get it.

One way to solve the issue is to increase the immigration significantly and create domestic demand (or international demand with cheaper cost and high quality etc...) There are other ways of handling it too.

But I guess first thing is to get through this crisis. I mean "Health is Wealth" after all

 

[PromisedLand]

Newfoundland has a case, a couple days ago

Crap! I was just checking the following website:

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

Buddy of mine is from Nova Scotia and he told me about NS today.

 

[ULF_55]

Not okay, boomer: Tensions mount between generations as some seniors resist social distancing



stupidity does not know any age demographics apparently be it the young students of Queens University or old folks who just keep their daily schedule regardless of what the government is requesting.

To paraphrase what I've said many times, stupidity is ageless.

Doesn't matter what generation you look at, there are bad actors in all of them, and the older you get the more you see it.

 

[thewave]

Cripes

Social Distancing May Need To Last 18 Months, UK Study Finds

 

[PromisedLand]

Cripes

Social Distancing May Need To Last 18 Months, UK Study Finds

Yup sucks! But I assume it is more applicable to UK than to us here ( )

UK did wait a lot longer to come to a similar decisions as other European countries; I think it was mentioned that UK was basing their decisions on incorrect data analysis; their experts re-did the analysis and then came up with the recommendations.

 

[4thline]

This virus will affect people of all ages... even young people with no additional risk factors.

It is not possible to keep the economy going with the virus spreading.

Either we shut down the economy when there are a few thousand cases (yes, I know that only hundreds are confirmed at this point, but the real number is in the thousands)... or you shut it down when you have tens of thousands or hundreds of thousands of cases. If you never shut at all, you will get a complete collapse and anarchy.

The longer we wait to shut down, the worse the economy will get and more people will die.

The entire country is not Toronto, and not everyone works in office towers.

 

[Big Muddy]

I mean things did change in Canada recently when some rules were modified

I was thinking of the U.S. There's a number of folks here talking about cuts to the entitlement programs.

Here's some info from the U.S. Chamber of Commerce

Truth No. 5 Not a single major entitlement program is projected to be financially solvent 20 years from now.

• The trust fund for the Social Security Disability Insurance program will be exhausted in just three years.
• The trust fund for Medicare Part A, which pays for hospital services, will go bankrupt in 13 years.
• Social Security will be unable to pay full benefits beginning in 2033, at which time recipients will see a 23% cut in benefits.