Thoughts on $2k/month proposal

[Zach911]

Originally Posted by redguard57

My wife and I are among those. Our stimulus payment is going straight to savings. Even though we have jobs now, doesn't mean we will after 2-4 more months of shut down. Even the safest jobs can't withstand this for long.

Originally Posted by oceangaia

It seems that for those of us in private industry there are two kinds of workers - those that have been laid off and those that will be laid off.

Same with the wife and I... same result with the stimulus payment. Both still working and commuting together... she in healthcare billing and me in food industry processing equipment manufacturing... those stainless steel processing lines and what not you see at the food processing plants.

Worried about the jobs in the short term? Not at all.

In 2-4 months? Maybe a little? Still have unemployment as the ace in the hole though.

[oceangaia]

Originally Posted by Zach911

In 2-4 months? Maybe a little? Still have unemployment as the ace in the hole though.

Maybe, maybe not. State UI agencies don't have unlimited funds and states may be running out in 2-4 months. Here's an article saying Kentucky will be out in a month.
https://www.pegasuskentucky.org/sing...tiwokN_NMuEoJU

[redguard57]

The real economic consequences are going to happen when the effects of widespread unemployment trickle up to the larger economy via reduced demand. We're seeing in oil already.

What happens when it hits banks? I'm concerned what will happen to the banking sector's liquidity when millions stop making mortgage payments. It'll be the financial system equivalent of all the reataurants being forcibly closed