Author Topic: Coronavirus Recession  (Read 16518 times)

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Offline eyephone

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Re: Coronavirus Recession
« Reply #390 on: May 22, 2020, 04:38:44 pm »
Sorry unemployment benefits are different from the fake PPP loans.
You can not explain the lack of analysis before funding the PPP loans. By the way banks do an analysis/approval from management before they fund private loans but I guess not the US government. I guess the difference is that banks do not like to LOSE money, but the government under Trump does not care.


Is that all you got on Pelosi? Sorry she punked Trump so many times. The famous pointing the finger at Trump while the other GOP look disgusted at Trump. When she walked out of meeting with Trump the Internet went upside down. We can not forget about the recent remark labeling Trump obese. Lol
She is an outright hypocrite. What's worse, she's throwing the country economy under the truck in order to gain political benefits. She's good at political stunts, should've been a circus clown.  You can admire her, if you wish. It's a free country.

Compromise is not the word I would use to describe the PPP fake loans. It is out right robbery from the US Treasury. I am sorry a five year old knows the basic concept of borrowing a toy and returning it back.

I am sorry giving money to a business that will fail is a complete joke. It is on the record that Mnuchin and staff do not look over t he loans before they are funded. But should they? Should they
do an analysis of the business before handing out the money. The answer is probably yes.
The conversation came up when reporters asked about how the Lakers received the PPP loan.
Some creative companies try to abuse the program, then get caught and punished. Ruth Steakhouse learnt it hard way. Planned Parenthood is the next in the line. If some smart a$$ finds a way to benefit from that, they will eventually get screwed.

Like I said, PPP is far away from being perfect, but it provides money to the small businesses quick and let them stay afloat. Direct unemployment handouts have zero change of return, ruin the economy. Between these two, I favor PPP.

Offline eyephone

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Re: Coronavirus Recession
« Reply #391 on: May 22, 2020, 04:45:24 pm »
The irony is that Pence and Trump back in the day criticized the banks bailout funded by TARP. TARP made money for the US taxpayers. But I guess PPP is the exact opposite. US tax payers lose big time under PPP.

Offline adventurous

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Re: Coronavirus Recession
« Reply #392 on: May 22, 2020, 04:52:24 pm »
Sorry unemployment benefits are different from the fake PPP loans.
Indeed, the unemployment benefits are meant to temporarily support people, who lost their income. It's not meant to encourage people to slack out. Unfortunately, this is how House is aiming to using it.

You can not explain the lack of analysis before funding the PPP loans. By the way banks do an analysis/approval from management before they fund private loans but I guess not the US government. I guess the difference is that banks do not like to LOSE money, but the government under Trump does not care.
Banks give out loans to get profit. PPP is meant to keep the small businesses afloat, help them quickly. See the difference?

The irony is that Pence and Trump back in the day criticized the banks bailout funded by TARP. TARP made money for the US taxpayers. But I guess PPP is the exact opposite. US tax payers lose big time under PPP.
PPP is not about bailing out fat cats. It's about supporting the small business in the dire situation.

Offline eyephone

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Re: Coronavirus Recession
« Reply #393 on: May 22, 2020, 05:12:50 pm »
What your favorite Chinese restaurant with authentic food?
I think you are better off talking about Chinese food.

https://www.talkirvine.com/index.php/topic,10971.msg210403.html#msg210403
« Last Edit: May 22, 2020, 05:26:40 pm by eyephone »

Offline eyephone

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Re: Coronavirus Recession
« Reply #394 on: May 22, 2020, 07:51:54 pm »
Sorry unemployment benefits are different from the fake PPP loans.
Indeed, the unemployment benefits are meant to temporarily support people, who lost their income. It's not meant to encourage people to slack out. Unfortunately, this is how House is aiming to using it.

You can not explain the lack of analysis before funding the PPP loans. By the way banks do an analysis/approval from management before they fund private loans but I guess not the US government. I guess the difference is that banks do not like to LOSE money, but the government under Trump does not care.
Banks give out loans to get profit. PPP is meant to keep the small businesses afloat, help them quickly. See the difference?

The irony is that Pence and Trump back in the day criticized the banks bailout funded by TARP. TARP made money for the US taxpayers. But I guess PPP is the exact opposite. US tax payers lose big time under PPP.
PPP is not about bailing out fat cats. It's about supporting the small business in the dire situation.

At the end of the day. The American people want accountability. Fat or skinny cat. They should pay back the money they owe. Boycott businesses that receive PPP! That is what happened during TARP. Fair game. But Pence in Congress made a big deal about the bank bailout, but how about now? (Not a big deal? Lol)

When is the last time you went to China? What is your favorite Chinese authentic restaurant in Irvine? (per your previous post)
Do you like Panda Express? Lol
« Last Edit: May 22, 2020, 08:35:16 pm by eyephone »

Offline irvinehomeowner

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Re: Coronavirus Recession
« Reply #395 on: May 23, 2020, 11:33:12 am »
Looks like OC restaurants and retail can start reopening.

Sign me up for the first 25% to dine in (an outdoor patio :) ).
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Offline irvinehomeowner

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Re: Coronavirus Recession
« Reply #396 on: May 23, 2020, 11:37:22 am »
Forgot to post the article:

https://www.mercurynews.com/2020/05/23/restaurants-malls-and-more-allowed-to-reopen-in-orange-county/

Quote
Dining in restaurants and shopping inside malls and stores were given a green light in Orange County on Saturday, May 23, marking a major shift to normalcy after two months of staying at home to curb the coronavirus pandemic.

Just in time for Memorial Day weekend, Gov. Gavin Newsom’s administration approved the county’s plan to expedite the latter phase of the state’s Stage 2 of gradual reopening, the Orange County Board of Supervisors announced.

Restaurants and stores still are expected to keep safety protocols in place, such as social distancing and other hygiene practices to keep customers and employees safe.

Some workplaces, such as manufacturing and offices where working from home is not possible, also were approved to reopen, as were outdoor museums and other “limited personal services.”

Not sure where Newsom announced this, can't Google it.
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Offline Ready2Downsize

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Re: Coronavirus Recession
« Reply #397 on: May 23, 2020, 06:34:26 pm »
Forgot to post the article:

https://www.mercurynews.com/2020/05/23/restaurants-malls-and-more-allowed-to-reopen-in-orange-county/

Quote
Dining in restaurants and shopping inside malls and stores were given a green light in Orange County on Saturday, May 23, marking a major shift to normalcy after two months of staying at home to curb the coronavirus pandemic.

Just in time for Memorial Day weekend, Gov. Gavin Newsom’s administration approved the county’s plan to expedite the latter phase of the state’s Stage 2 of gradual reopening, the Orange County Board of Supervisors announced.

Restaurants and stores still are expected to keep safety protocols in place, such as social distancing and other hygiene practices to keep customers and employees safe.

Some workplaces, such as manufacturing and offices where working from home is not possible, also were approved to reopen, as were outdoor museums and other “limited personal services.”

Not sure where Newsom announced this, can't Google it.

https://www.latimes.com/california/story/2020-05-23/orange-county-cleared-to-reopen-more-businesses

Been pretty good at staying at home, buying online except hitting up the post office pretty much daily but I HAD to get some things for stuff I make to sell online. Haven't been to Joann's even though they've been open the entire time (they sell fabric for masks). They have sold so much fabric they have rows of emptiness (they sell fabric but don't get normal amounts in because fabric mills in places like Bangladesh are closed). They did have what I needed though...… including flannel at prices I see only as blockbuster black Friday deals once a year so off I went.

Need some ribbon from Michaels. They are open again. Hoping to go there tomorrow. After that I'm done shopping and we'll see how it goes with whether a second wave hits us or not.

So when are offices that can work from home ok to have workers come back just cuz they don't "choose" to work at home any more? I get a whole lot more done without the better half wandering around. I'm sure he'd be a whole lot more productive in the office. Doubt he wanders the office like he does here.
« Last Edit: May 23, 2020, 06:54:23 pm by Ready2Downsize »

Offline eyephone

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Re: Coronavirus Recession
« Reply #398 on: May 23, 2020, 07:59:09 pm »
Looks like OC restaurants and retail can start reopening.

Sign me up for the first 25% to dine in (an outdoor patio :) ).

Tell me how it goes. May the force be with you. :)

Offline irvinehomeowner

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Re: Coronavirus Recession
« Reply #399 on: May 27, 2020, 09:27:41 am »
So even the data says that no lockdown would have been worse for the economy (read the link qwerty!):

Economic damage could be worse without lockdown and social distancing – study:

https://www.cam.ac.uk/research/news/economic-damage-could-be-worse-without-lockdown-and-social-distancing-study

Quote
The worst thing for the economy would be not acting at all to prevent disease spread, followed by too short a lockdown, according to research based on US data.

There is much debate over the economic costs of our lockdown lives: whether the mitigation of disease spread is worth the deepening financial crisis.

New research from the University of Cambridge suggests that there is no absolute trade-off between the economy and human health – and that the price of inaction could be twice as high as that of a 'structured lockdown'.

A Cambridge economist, together with researchers at the US Federal Reserve Board, has combined macroeconomics with aspects of epidemiology to develop a model for the economic consequences of social distancing.

The study uses US economic and population data, but the researchers say their findings have implications for most developed economies.

It divides the working population into 'core workers' – those in healthcare as well as food and transportation, sanitation and energy supply, among others – and then everyone else, and models the spread of the virus if no action is taken.

“Without public health restrictions, the random spread of the disease will inevitably hit sectors and industries that are essential for the economy to run,” said co-author Prof Giancarlo Corsetti, from Cambridge’s Faculty of Economics.

“Labour shortfalls among core workers in particular strip more value from the economy. As essential team members within this core sector drop out of the workforce, it impairs production far more than losing those in other areas of the economy.”


By separating the core and non-core workers, the study suggests that the economy would shrink by 30% or more without lockdown and social distancing. “By ignoring this division in the workforce, we may badly underestimate the true depth of economic damage,” Corsetti said.

So there is opinion that has scientific and socioeconomic data behind it... and opinion that is backed by... qwerlogic. :)

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Offline Kings

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Re: Coronavirus Recession
« Reply #400 on: May 27, 2020, 09:33:36 am »
So even the data says that no lockdown would have been worse for the economy (read the link qwerty!):


So there is opinion that has scientific and socioeconomic data behind it... and opinion that is backed by... qwerlogic. :)

that study was published a month ago...we have much better data now that says the virus is not as bad as we thought it was.  i'd love to see them do an update to their study with current data.

Offline irvinehomeowner

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Re: Coronavirus Recession
« Reply #401 on: May 27, 2020, 09:42:35 am »
So even the data says that no lockdown would have been worse for the economy (read the link qwerty!):


So there is opinion that has scientific and socioeconomic data behind it... and opinion that is backed by... qwerlogic. :)

that study was published a month ago...we have much better data now that says the virus is not as bad as we thought it was.  i'd love to see them do an update to their study with current data.

Is the virus "not as bad" or was it because of flattening the curve measures? Regardless of the numbers, the concept of core workers protection remains the same.
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Offline qwerty

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Re: Coronavirus Recession
« Reply #402 on: May 27, 2020, 10:04:22 am »
 I started reading it and stopped when I read the word model. I can also put together a model that says we would have grown the economy if we had not shut down. 

Morekaos just posted the story of Cuomo saying all of the models that were used as the basis for the shutdown were all off. That is probably the most honesty I’ve ever heard from a politician.

You can throw this model in that same pile of s#it. I think we all know by now that both sides, pro shutdown and those opposing it can put out models that support their viewpoint.

Backing you opinions with models isn’t really basing your opinions on science and FACTUAL data.

Offline irvinehomeowner

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Re: Coronavirus Recession
« Reply #403 on: May 27, 2020, 10:21:05 am »
You are ignoring the common sense and logical concepts regardless of the word model.

But that’s ok... that’s what 5 year olds do. :)

PS: Post a link to a model that says we would have grown the economy if we didn’t lock down. You won’t because that’s the real pile you reference.
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Offline morekaos

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Re: Coronavirus Recession
« Reply #404 on: May 27, 2020, 10:27:38 am »
I told you, Hitchens was right...they declare victory in defeat...

Going with 10k-20k range.  Call me an optimist.  Doesn't matter, if we get lower numbers than predicted, some people will claim "I told you it's just the flu!" and the others will say "It's because we shutdown!"

Would be helpful if we had a rapid reliable IgM/IgG test so that exposed people (asymptomatic or mild case) could get back to work while we quarantine the unexposed.

I like Peter Hitchens analogy as to how the blame game will go down if the death rates don't skyrocket soon...

As things stand, the Johnson Government is like a doctor, confronted with a patient suffering from pneumonia. ‘This is serious,’ says the doctor. ‘I have never seen anything like this. Unless I act radically, you will die terribly.’

He then proposes to treat the pneumonia by amputating the patient’s left leg, saying this method has been used successfully in China. The trusting patient agrees. The patient eventually recovers from pneumonia, as he would have done anyway. The doctor proclaims that his treatment, though undoubtedly painful and radical, was a great success. But the patient now has only one leg, and a very large hospital bill which he cannot afford to pay.

https://www.dailymail.co.uk/debate/article-8163587/PETER-HITCHENS-Great-Panic-foolish-freedom-broken-economy-crippled.html

 

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