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Stock Market Crash

The GOP bill would allow bailed out companies to lay off all their workers. It was not good or worth passing.
 
BillBrasky said:
Call me ruthless, but this an opportunity of a lifetime for progressives to reshape our broken economic system and they better not puss out and give away the farm again like in 08.

Because if we don't we will right here again in another 10 years. At the end of the day our corporate leaders are fat little greedy children and they'll keep sticking their hand in the cookie jar as long as its open.
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This right here is the problem and will be weaponized against Democrats if they stall on this much longer.

Your opportunity to *reshape* the broken system comes if you win the election. Right now it's on life support and you need to save it to make sure we make it to even summertime without staggering unemployment levels.

Make sure UI is set for a year, stop RJ'ing the system with what ifs about whether or not someone gets cash who really doesn't need it. Get cash in people's hands now.
 
Liquid Karma said:
This right here is the problem and will be weaponized against Democrats if they stall on this much longer.

Your opportunity to *reshape* the broken system comes if you win the election. Right now it's on life support and you need to save it to make sure we make it to even summertime without staggering unemployment levels.

Make sure UI is set for a year, stop RJ'ing the system with what ifs about whether or not someone gets cash who really doesn't need it. Get cash in people's hands now.
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All that does is incentivize companies to lay off their employees and supplement their productivity with free government cash.

So your plan is for our government to change nothing and provide corporate welfare bailouts every decade or so when needed? Because that's where our economic system is now. The fact that companies can't make it through two weeks of a crisis without putting their hands out shows how poorly they are run.

We need to be proper parents and stop bailing out our fuck up children every time they make a mistake.
 
That being said I'm all for an immediate compromise package that provides small business loans/grants. Something both sides appear to agree upon. Get that out now along with funding COVID-19 money for hospitals and health care providers.
 
Also I expect all of our "fiscal conservatives" (LOL) on here to acknowledge the enormous spending capacity of the federal government going forward. Next time you say that we can't afford to spend one billion, not trillion, dollars to do something to help ordinary citizens, I'll make sure to reference this thread.
 
BillBrasky said:
All that does is incentivize companies to lay off their employees and supplement their productivity with free government cash.

So your plan is for our government to change nothing and provide corporate welfare bailouts every decade or so when needed? Because that's where our economic system is now. The fact that companies can't make it through two weeks of a crisis without putting their hands out shows how poorly they are run.

We need to be proper parents and stop bailing out our fuck up children every time they make a mistake.
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Given that 3 weeks ago unemployment was doing fine, albeit with stagnant wage growth, I have zero problem with doing what we can right now to maintain that as the status quo. You act like most companies swindled people and are at fault for literally seeing their cash flow slashed in half or worse almost overnight. Solve the short term cash and liquidity problem first. Worry about the revolution later.
 
BillBrasky said:
That being said I'm all for an immediate compromise package that provides small business loans/grants. Something both sides appear to agree upon. Get that out now along with funding COVID-19 money for hospitals and health care providers.
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Extend UI to a year. Give everyone cash right now in the short term. Cut out as much red tape as possible. I don't think the SBA can handle the volume of requests it's about to get for bridge financing. No clue how they get around that.

A payroll tax holiday would be very welcome for small businesses.
 
Liquid Karma said:
Given that 3 weeks ago unemployment was doing fine, albeit with stagnant wage growth, I have zero problem with doing what we can right now to maintain that as the status quo. You act like most companies swindled people and are at fault for literally seeing their cash flow slashed in half or worse almost overnight. Solve the short term cash and liquidity problem first. Worry about the revolution later.
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Unemployment is a terrible barometer of economic health, even worse than the stock market. It is also incredibly easy to manipulate.

How many people are underemployed or no longer looking for work? I imagine that number is much higher (3-5x) than the reported rate.

On top of that account for the % of people who need government subsidies to survive because they make far below a living wage.

This economy has always been a house of cards, it was inevitable it was going to collapse.
 
BillBrasky said:
That being said I'm all for an immediate compromise package that provides small business loans/grants. Something both sides appear to agree upon. Get that out now along with funding COVID-19 money for hospitals and health care providers.
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One of the best proposals for small businesses is they get no interest loans and if they keep their employees through the pandemic and I think a month or two after, the operating loan principal will be forgiven. This is a very smart way to do things.
 
Any decent resources to compare some of our economic metrics (stock market, unemployment) with similar metrics in other countries? Basically are we seeing more harsh financial reactions to our industries or are we in line with what other countries are seeing?
 
What is this climate change pork that McConnell shrieking about on the Senate floor this last hour?
 
Something about solar credits, I think.
 
Complete red herring for GOP to scapegoat on. The hold up is what it has been - Democrats aren’t going to vote for a bill that has limited oversight of the money going to major corporations, provided Mnuchin wide discretion to give money where he sees fit, and lacks transparency for who begs the money. Nor should they.
 
Then drop the climate change language and move on to what McConnell wants to bitch about next.
 
Isn’t a big part of this crash caused by manipulation of oil in the market by Saudi Arabia? Seems like less reliance on oil might be good for market stability, no?
 
Liquid Karma said:
Then drop the climate change language and move on to what McConnell wants to bitch about next.
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Only if the McConnell drops something else too. I'm sure there's a GOP backed provision in the bill guaranteeing C-Level Execs a hookers and blow stipend. So they can cancel each other out.

I thought you business types understood negotiation.
 
would be nice for someone to publish specifically what each side is bickering over
 
So are they going to have anything to vote on today?
 
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