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How is $600 going to fix this mess? And people that don't need it will be getting it.
What a boondoggle.
Agree. I don’t see why people who have their regular jobs, even saving money on commuting costs, should get money. This debt is going to be a killer at some point, and nobody seems to care.
The problem is there is no enforcement of mask wearing, so at this point it doesn't really matter. My great governor even banned counties and cities from enforcing a local mandate. I think we will just have to accept thousands of Americans will die every month from this until we either get a good mass produced vaccine or it goes away on its own.
Well, if the masks actually protected the people wearing them, then people not wearing them would be the only ones in danger. The masks they have now don't protect you really, they just hinder you from spreading it.
How is $600 going to fix this mess? And people that don't need it will be getting it.
What a boondoggle.
Agreed. You would think that after taking all of that time working on the bill, they would have come up with a better plan. I'm concerned they think they can just keep cutting trillion dollar checks.
Both parties claim they are for the "working class", but at this rate, in 10 years it will just be the rich and the poor. I can't believe they did nothing to address back rents and back mortgages.
Guess the only thing I can do is...
be among the rich
A lot of landlords and residents are going to lose their houses or be forced to sell.
Just watch, the government is going to wash their hands off and the landlords will be left holding the bag when the moratorium comes to an end. The landlords may sue but you can't sue someone who does not have any money and can file for BK. Either that or the liberals will just order their debt forgiven at the landlord's expense.
Just curious what everyone thinks about the bill and how it will impact the market.
It already impacted the market yesterday (Monday): in the morning, after weeks of buy the rumor, sell the fact. I sold a lot of put options on the volatility. In the afternoon, it all dissipated into nothing, including the volatility. Of course I exaggerate, but the best deals occurred at the opening bell on the sell-the-fact volatility.
Keep in mind that this is merely a supplemental spending bill to the annual spending bill. Here is a snippet from Bloomberg News ...
Quote:
5,593-Page Relief and Spending Bill
The roughly $900 billion aid package is attached to a $1.4 trillion measure to fund government operations through the end of the fiscal year [September 30, 2021]. Also included are major tax, energy and national security policy measures.
I think the headline has it right (a rare occurrence): the first part of the bill is merely relief money, temporary life-support to the payments system for average people.
The second, annual spending part of the bill is mainly for people with the power to influence and implement government/corporate contracts (energy, national security, etc.).
Every year there is vast support in Congress, regardless of color scheme, for the annual spending bill, but that usually does not make the headlines because it doesn't make good political theater because it's in black and white, not in color.
The market, color blind, loves it of course, but the vast majority of average people mesmerized by political theater headlines are not significant market participants if at all.
Take care!
Last edited by bale002; 12-22-2020 at 02:08 AM..
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