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Then at least we should have fully and completely opened up back in Summer when there was more data...
Had there been an actual national strategy to control the virus early on, and if we didn't have a grossly incompetent leader that let governors in states like GA and FL be stupid, and if we didn't have ghouls in Congress who providing welfare to people in the midst of a pandemic is a cardinal sin, we probably could have fully and completely opened back up in the Summer.
Now, instead, we're stuck in a weird limbo with a ****ed up economy and a deadly virus spreading like wildfire.
Plenty of people who were busted or near poor (working part-time or very low wage jobs) got far more in UI + that $600 each week than they made prior. Even after accounting for paying bills many still had sizable amounts of money left unspent each month; those funds are sitting in banks.
You also had many situations where one member of household still was working, but the spouse was on UI and getting $600 on top. That and they got a stimulus check meant their bank accounts were quite full.
Yeah, a good number spent every GD penny they got of stimulus money, but more smarter persons realized the gravy train (UI benefits including that $600) wouldn't last and socked money away in bank.
Then came that LWA money which while not wholly replacing $600/wk did top off some people's tanks.
One reason despite all the moaning about sky is falling has not come true is just that; plenty of people have socked away one, two, three or more months of stimulus money in back, so they're good in short term. It is what happens when UI benefits end that has got people worried.
In summation there are plenty of people with more money in their bank accounts now (liquid assets) thanks to stimulus money than they've ever had in their lives.
stocks certainly are considered liquid assets ..they may be "long term investments but they are as liquid as can be
one can survive on $600 a week thats $2520 a month,enough for rent,utilities,food and car payment
in many higher cost cities it would hardly cover just rent for a family unless you want to live in an undesirable area . i know without other assistance i would never want to try to live on 600 bucks here in ny
Did you actually read your own article? I read the second one because the first one didn’t work for me.
You say other reports are false...and then you post a vague report with zero actual data. It’s literally the speculation of a single person. And there’s literally a line right after their speculation that says “he cautioned though, that he had not heard ANY report of this actually happening though”.
How about they find some proof that cases of pneumonia deaths have been materially and statistically significantly reduced.
That type of article is like the definition of useless garbage. A political clickbait article to arrive at a pre existing conclusion that people want to hear. And then after the eye catching headline and bold claim of an expert, it closes it all 50 lines down with a “yeah but I’ve never seen this and I’m just shooting from the hip”
Hilarious.
Last edited by Thatsright19; 10-17-2020 at 05:09 AM..
stocks certainly are considered liquid assets ..they may be "long term investments but they are as liquid as can be
Yeah, I didn’t really understand that post. Sure, stocks aren’t as liquid as cash and cash equivalent instruments, but it’s pretty much the next most liquid asset. You could easily liquidate stocks within a day? Hours? Seconds?
Obviously there can be costs associated with liquidating the assets, but that doesn’t make it any less liquid.
Yeah, I didn’t really understand that post. Sure, stocks aren’t as liquid as cash and cash equivalent instruments, but it’s pretty much the next most liquid asset. You could easily liquidate stocks within a day? Hours? Seconds?
Obviously there can be costs associated with liquidating the assets, but that doesn’t make it any less liquid.
we purposely got rid of all our real estate just because we wanted all highly liquid assets in retirement that can be rebalanced and spent to support us . we own only equities , bond funds and gold etf's and commodity etf's .
in many higher cost cities it would hardly cover just rent for a family unless you want to live in an undesirable area . i know without other assistance i would never want to try to live on 600 bucks here in ny
cant solve every problem,a family usually have some savings,unfortunately many do not even have $400 and if they do,it is spent already.
but $600/week is not a small sum of money when it is given free.
The cheapest tacos in this part of town are from the tacos-de-canasta woman who sets up near the Oxxo, at 9 pesos. It's canasta so nothing fancy but she's usually got all of chorizo, papas, rallas, picadillo etc. not bad. So with a $600/week check I could eat at doña Gladys (it's something like that) for about 1,400 tacos per week. Let's not even start talking about the specials she runs 3 tacos for 25 pesos etc.
We're fat boys! Rented room in Whalley Range and tacos flowing out of every orafice.
I assume you are either in MEXICO or very close to the border,if you are paying peso.
I prefer to make my own chow,I am still paying my water bill,so I wash all my green onion
With fewer Covid restrictions, the economies of the southern states has out-performed the economy of the rest of the nation - both economic output and unemployment.
The best thing we can do now is to re-open as much as is consistent with not over-runing hospitals, and stop paying people not to work. Employees sitting on the sidelines waiting for their former employers to reopen need to wake up and smell the coffee - those jobs are not coming back, and the unemployed need to get on with their lives. Paying them to sit on the sidelines is cruel; we need to stop paying them and tell them to go find jobs - any job - to support themselves.
Ditto for business owners: they need to wake up and smell the coffee. Their capital is highly impaired or flat-out gone, and they need to close and reinvest in areas of the economy that can thrive in the Pandemic era.
That is, we need to let Capitalism do what Capitalism does best: reallocate resources. The faster we get to a new equilibrium, the faster the economy can thrive once again.
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