Coronavirus Recession

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Kenkoko said:
Sad news

Souplantation is no more.
https://www.sandiegoville.com/2020/05/souplantation-sweet-tomatoes-will-not-reopen.html
Click to expand...

I have the early local news on while doing work.  Restaurant owner on complaining the the PPP mix of 75% wages/25% rent isn't fair and just a stay of execution. 

I had the morning news on today and they had Neel Kashkari head of the Minneapolis Fed Reserve Bank on.  They ask about reopening and fast bounce back, he actually, even reopening, we will likely need to maintain social distancing, I don't know how many restaurants are going to make ends meet when they remove half their tables. His tone was pretty clear that he thinks the number is near zero.

The owner on the local news clearly can't justify keeping staff on to do take out, he's got the same issue with  half empty tables.

Same issue Souplantation had.

Getting tired of business owners wanting a social bailout and don't want any social obligation.
 
I don?t believe in any if the bailouts for business. They should have just let let them do a bankruptcy and let the banks eat it. The banks are backed by the fed anyway.

Restaurants are going to continue to get slaughtered. Not sure why the government throws good money after bad by helping them. All of this sucks.

So what is the view of the pro-lockdown people? Was all the economic damage worth it? 

Forget the guidelines and open things up. Not much of a point in reopening if businesses can?t survive.

Curbside pickup at flower shops and retailers? Really?
 
qwerty said:
Forget the guidelines and open things up. Not much of a point in reopening if businesses can?t survive.
Click to expand...

Depend on which guidelines you are forgetting. No point in reopening a business if no one will go there because they are afraid for their lives. :)
 
irvinehomeowner said:
qwerty said:
Forget the guidelines and open things up. Not much of a point in reopening if businesses can?t survive.
Click to expand...

Depend on which guidelines you are forgetting. No point in reopening a business if no one will go there because they are afraid for their lives. :)
Click to expand...

Yeah but step 1 is for the business to just open up. People can make their own choice as to what business they want to patronize based on their comfort level
 
qwerty said:
irvinehomeowner said:
qwerty said:
Forget the guidelines and open things up. Not much of a point in reopening if businesses can?t survive.
Click to expand...

Depend on which guidelines you are forgetting. No point in reopening a business if no one will go there because they are afraid for their lives. :)
Click to expand...

Yeah but step 1 is for the business to just open up. People can make their own choice as to what business they want to patronize based on their comfort level
Click to expand...

If I?m a business owner, I think the majority will want to be safe and wear masks so that?s what I would enforce.

Sorry qwerty... no Impossible Burger for you. :)
 
$54.3 billion California deficit...?.. so far.

That amounts to over $1300 PER PERSON in California.

Good thing we HAD a $21 billion surplus thanks to high gas tax, high income tax, high property tax, high sales tax.

But Newsome says we'll get thru this..... we'll have to work hard (pay more taxes) but we'll get thru it. Cuts are coming too. Maybe we can put a hold on the bullet train to nowhere and paying for illegal alien legal defense costs. Well maybe just the bullet train, anyway.

Be careful about any types of vehicle violations. Betcha lots more tickets will be written to shore up depleted coffers.
 
irvinehomeowner said:
qwerty said:
irvinehomeowner said:
qwerty said:
Forget the guidelines and open things up. Not much of a point in reopening if businesses can?t survive.
Click to expand...

Depend on which guidelines you are forgetting. No point in reopening a business if no one will go there because they are afraid for their lives. :)
Click to expand...

Yeah but step 1 is for the business to just open up. People can make their own choice as to what business they want to patronize based on their comfort level
Click to expand...

If I?m a business owner, I think the majority will want to be safe and wear masks so that?s what I would enforce.

Sorry qwerty... no Impossible Burger for you. :)
Click to expand...

Not a problem. The customer can make the choice to shop there or not.
 
@qwerty. That?s a two year question.  If no lock down, what if LA, SF, Seattle, Dallas, Chicago, Miami went the route of NYC?  How much economic damage while everything is open would that be?  How would we restart then?

This may be the less damage path.


qwerty said:
I don?t believe in any if the bailouts for business. They should have just let let them do a bankruptcy and let the banks eat it. The banks are backed by the fed anyway.

Restaurants are going to continue to get slaughtered. Not sure why the government throws good money after bad by helping them. All of this sucks.

So what is the view of the pro-lockdown people? Was all the economic damage worth it? 

Forget the guidelines and open things up. Not much of a point in reopening if businesses can?t survive.

Curbside pickup at flower shops and retailers? Really?
Click to expand...
 
Ready2Downsize said:
$54.3 billion California deficit...?.. so far.

That amounts to over $1300 PER PERSON in California.

Good thing we HAD a $21 billion surplus thanks to high gas tax, high income tax, high property tax, high sales tax.

But Newsome says we'll get thru this..... we'll have to work hard (pay more taxes) but we'll get thru it. Cuts are coming too. Maybe we can put a hold on the bullet train to nowhere and paying for illegal alien legal defense costs. Well maybe just the bullet train, anyway.

Be careful about any types of vehicle violations. Betcha lots more tickets will be written to shore up depleted coffers.
Click to expand...

Yes, unfortunately I sense a tax hike in our near future with some combination of sales tax, car registration, gas tax, income tax, and/or property tax increases.
 
Ready2Downsize said:
$54.3 billion California deficit...?.. so far.

That amounts to over $1300 PER PERSON in California.

Good thing we HAD a $21 billion surplus thanks to high gas tax, high income tax, high property tax, high sales tax.

But Newsome says we'll get thru this..... we'll have to work hard (pay more taxes) but we'll get thru it. Cuts are coming too. Maybe we can put a hold on the bullet train to nowhere and paying for illegal alien legal defense costs. Well maybe just the bullet train, anyway.

Be careful about any types of vehicle violations. Betcha lots more tickets will be written to shore up depleted coffers.
Click to expand...



Talking about debts, I?ve been reading up and following Mike Maloney and it really put into perspectives of how F?? up we really are in. This could be the beginning of an end of the great empire as we know it. It makes me shudders.

The video walk through all of the keys numbers.
https://goldsilver.com/blog/usas-debt-crisis-is-this-the-end-of-the-system-mike-maloney/
 
@CV

Watched the clip. Agree w/ him US is heading towards big debt, big deficit, low interest rate future. But I think this the chosen path because trying to grow out of it would be less painful than austerity. It's also easier to sell politically. Austerity is a tough sell, easiest way to lose big blocks of voters.

I disagree with how he said inflation would happen. He glossed over how we would go from money printing,massive QEs, helicopter drops of $$ to "one day people would have enough currency to start spending and we'd have inflation."

He never said HOW that'd happen.

It's incredibly difficult to stoke inflation when you're trying to break the demand-deficient feedback loop. Japan is the perfect example. They have been doing QE longer than any other central bank (since 2002).  And they've been having deflation problem for 20 years, not inflation.

Maybe because he's a gold bug and I'm not. I just don't see a strong case for hyper inflation that gold prices would need to take off.

If I want a play on relative scarcity, I'd go crypto not gold.
 
nosuchreality said:
Kenkoko said:
Sad news

Souplantation is no more.
https://www.sandiegoville.com/2020/05/souplantation-sweet-tomatoes-will-not-reopen.html
Click to expand...

I have the early local news on while doing work.  Restaurant owner on complaining the the PPP mix of 75% wages/25% rent isn't fair and just a stay of execution. 

I had the morning news on today and they had Neel Kashkari head of the Minneapolis Fed Reserve Bank on.  They ask about reopening and fast bounce back, he actually, even reopening, we will likely need to maintain social distancing, I don't know how many restaurants are going to make ends meet when they remove half their tables. His tone was pretty clear that he thinks the number is near zero.

The owner on the local news clearly can't justify keeping staff on to do take out, he's got the same issue with  half empty tables.

Same issue Souplantation had.

Getting tired of business owners wanting a social bailout and don't want any social obligation.
Click to expand...

Agree

I think it's better to create new companies & opportunities that recognize the changes Covid has forced on our world.

Pretending things will return to how they were 10 weeks ago is a huge mistake.
 
Kenkoko said:
Sad news

Souplantation is no more.
https://www.sandiegoville.com/2020/05/souplantation-sweet-tomatoes-will-not-reopen.html
Click to expand...

Noooooo, so sad.  Foothill Ranch Souplantation was my favorite.  Always clean and well stocked.  Only solstice I have is that I ate there the day before they shut down, place was empty and I enjoyed the Tuna Taragon, Joan?s Broccoli Madness, Chicken Noodle, Cream of Mushroon Soup, Blueberry Muffins, Cornbread, sourdough, focaccia, soft serve.

I will miss you my friend, may you Rest In Peace.
 
Kenkoko said:
@CV

Watched the clip. Agree w/ him US is heading towards big debt, big deficit, low interest rate future. But I think this the chosen path because trying to grow out of it would be less painful than austerity. It's also easier to sell politically. Austerity is a tough sell, easiest way to lose big blocks of voters.

I disagree with how he said inflation would happen. He glossed over how we would go from money printing,massive QEs, helicopter drops of $$ to "one day people would have enough currency to start spending and we'd have inflation."

He never said HOW that'd happen.

It's incredibly difficult to stoke inflation when you're trying to break the demand-deficient feedback loop. Japan is the perfect example. They have been doing QE longer than any other central bank (since 2002).  And they've been having deflation problem for 20 years, not inflation.

Maybe because he's a gold bug and I'm not. I just don't see a strong case for hyper inflation that gold prices would need to take off.

If I want a play on relative scarcity, I'd go crypto not gold.
Click to expand...


The scarcity is not what I want.

When the FED and government bailout zombies company. They are effectively throw good money after bad debts. And with a few strokes of keys punching, the currency - dollars created into existence. This weaken fiat currency over time. We will have to pay more for less.
 
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