Announcement

Collapse
No announcement yet.

Coronavirus

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Blackbeard
    replied
    Re: Coronavirus

    Originally posted by Timothy A View Post
    The economy will bounce back very nicely. Yes, some businesses that were barely holding on will be defunct, but others will be busier because of picking up the market share. Other than that, I don't see any over-riding reason why things won't take back off.
    Allow me to share with you some over-riding reasons why things might not take back off.

    And don't forget, Covid-19 didn't cause this. It was just the catalyst that pushed the already terminally ill economy over the edge. The misallocations of capital were not allowed to clear the system in 2008-2009. Businesses that fail should be allowed to finish that process...but they weren't. Politics becomes involved. The systemic dangers are much greater now than they were in 2008. You have a fascist state in the US that has been allowed to grow and fester and the day of reckoning would appear to be here.

    And, as a result, it certainly wouldn't surprise me to find that in October, women's hockey, in whatever form, is not business as usual.

    https://kingworldnews.com/alasdair-m...crack-up-boom/

    https://www.zerohedge.com/economics/...small-business

    Leave a comment:


  • Blackbeard
    replied
    Re: Coronavirus

    Originally posted by TonyTheTiger20 View Post
    "The Economy" is not the Dow.
    This is an important point. Most people think that the stock market is a proxy for the economy...which it is not.


    Originally posted by TonyTheTiger20 View Post
    My guy, seriously, do you really think most people aren't saving money because they're just spending it on avocado toast or something?? 40% of Americans can't cover an unexpected expense of $500 (and that was before all of this *gestures wildly* happened). If you're living paycheck to paycheck good luck saving 3 months of your salary.
    While this is true it doesn't negate the points that Offsides Guy was making. Your each talking about opposite sides of the same coin. Any idea how many financial imbeciles were using the annual to the moon price increases in their homes 12-15 years ago as ATM machines and ****ed it all away on cars, furniture, renovations and vacations (depreciating assets, at best) that they could have done without and then were taught an important and brutal financial lesson by life and ended up under water in their mortgages? How many of these people have ever recovered?...How many are in the category that you just described?

    A similar situation is true with many large corporations during the last 10-12 years who have greedily squandered their cash reserves on share buy backs which benefit the shareholders and the compensation/benefits packages of the executives but leaves them empty handed as a business when a calamity such as this comes knocking. And then comes their upturned hat extended toward the government door...looking for handouts...which they get. So, their profits are privatized, meaning that they don't share them with you but their losses...well, that's a different matter. Guess who gets to cough up and make them whole?...You, the taxpayer.

    Great gig isn't it?...spend all your corporate money not to improve the business but only to lubricate the channels through which you can siphon off as much as possible (a parasite/host relationship) and then when there are losses you quickly and happily pass them off onto the public with not as much as a wink of sleep lost. Heads you win...tails the other guys lose.

    So, you were only partially accurate.

    The major cause of all this, among other criminal perpetrators,...The Federal Reserve Bank...which is neither Federal, nor does it have any reserves, nor is it a bank. It's a cartel...The Creature From Jekkyl Island.

    Leave a comment:


  • TonyTheTiger20
    replied
    Re: Coronavirus

    Originally posted by Offsides Guy View Post
    Certainly some may find it impossible to save three months of expenses and should be helped in times of crisis but that number of people should be far less than it is right now. Far too many people in this country prioritize other more optional expenses over saving even some money. And it doesn’t mean constantly saving. It means sacrificing for the near term to build up 60-90 days worth of expenses. What’s happening now might convince some people they can go without a cable TV bill or an unlimited data cell phone plan for a few months as part of a larger effort to build up their emergency savings.
    Sigh

    Leave a comment:


  • Offsides Guy
    replied
    Originally posted by TonyTheTiger20 View Post
    You're talking about "The Economy" like it's some intangible batch of numbers and graphs and then simultaneously in the same post mentioning people unable to make rent. "The Economy" is not the Dow. 10 million people went unemployed in the last two weeks, a third of people can't make this month's rent, and people aren't going to be able to pay their mortgages.

    As for this:

    My guy, seriously, do you really think most people aren't saving money because they're just spending it on avocado toast or something?? 40% of Americans can't cover an unexpected expense of $500 (and that was before all of this *gestures wildly* happened). If you're living paycheck to paycheck good luck saving 3 months of your salary.

    Holy freaking smokes. I love you guys but let's get up to speed here a little bit.
    Certainly some may find it impossible to save three months of expenses and should be helped in times of crisis but that number of people should be far less than it is right now. Far too many people in this country prioritize other more optional expenses over saving even some money. And it doesn’t mean constantly saving. It means sacrificing for the near term to build up 60-90 days worth of expenses. What’s happening now might convince some people they can go without a cable TV bill or an unlimited data cell phone plan for a few months as part of a larger effort to build up their emergency savings.

    Leave a comment:


  • TonyTheTiger20
    replied
    Re: Coronavirus

    Originally posted by Offsides Guy View Post
    I have to say, all this doom and gloom about the economy has been embarrassing. This rush to pass stimulus after stimulus package without even waiting to see the results of what's been enacted is ludicrous (and I lean liberal by the way). A "strong" economy should be able to withstand a 60 to 90-day major hit without much issue. If an economy can't, than it wasn't that strong in the first place.

    If there's an economic lesson to be learned in all this, it's that we all have to be much more self-reliant. Imagine how much less economic panic there would be right now if:
    - we had no national deficit?
    - most businesses could go 60 to 90 days covering their basic expenses with cash they've saved?
    - most people could go 60 to 90 days covering their basic expenses with cash they've saved?

    A consumer-based economy is a house of cards if it isn't at least somewhat balanced with savings.
    Originally posted by D2D View Post
    Good post, couldn't agree more with everything you've said. All the government stimulus packages will provide only a temporary boost to the economy, while the tremendous debt we're adding will saddle our young ones indefinitely.

    I saw where nearly a third of renters couldn't even make their April rent, let alone 60-90 days out. Not a good sign.
    You're talking about "The Economy" like it's some intangible batch of numbers and graphs and then simultaneously in the same post mentioning people unable to make rent. "The Economy" is not the Dow. 10 million people went unemployed in the last two weeks, a third of people can't make this month's rent, and people aren't going to be able to pay their mortgages.

    As for this:

    Imagine how much less economic panic there would be right now if ... most people could go 60 to 90 days covering their basic expenses with cash they've saved?
    My guy, seriously, do you really think most people aren't saving money because they're just spending it on avocado toast or something?? 40% of Americans can't cover an unexpected expense of $500 (and that was before all of this *gestures wildly* happened). If you're living paycheck to paycheck good luck saving 3 months of your salary.

    Holy freaking smokes. I love you guys but let's get up to speed here a little bit.

    Leave a comment:


  • Russell Jaslow
    replied
    Originally posted by mnwis View Post
    Actually, neither college or high school lost their respective seasons...
    He’s talking about Spring sports.

    Leave a comment:


  • D2D
    replied
    Re: Coronavirus

    Originally posted by Offsides Guy View Post
    I have to say, all this doom and gloom about the economy has been embarrassing. This rush to pass stimulus after stimulus package without even waiting to see the results of what's been enacted is ludicrous (and I lean liberal by the way). A "strong" economy should be able to withstand a 60 to 90-day major hit without much issue. If an economy can't, than it wasn't that strong in the first place.

    If there's an economic lesson to be learned in all this, it's that we all have to be much more self-reliant. Imagine how much less economic panic there would be right now if:
    - we had no national deficit?
    - most businesses could go 60 to 90 days covering their basic expenses with cash they've saved?
    - most people could go 60 to 90 days covering their basic expenses with cash they've saved?

    A consumer-based economy is a house of cards if it isn't at least somewhat balanced with savings.
    Good post, couldn't agree more with everything you've said. All the government stimulus packages will provide only a temporary boost to the economy, while the tremendous debt we're adding will saddle our young ones indefinitely.

    I saw where nearly a third of renters couldn't even make their April rent, let alone 60-90 days out. Not a good sign.

    Leave a comment:


  • MAHOCKEY FAN
    replied
    Originally posted by mnwis View Post
    Actually, neither college or high school lost their respective seasons...
    They absolutely lost they spring sports seasons. I know this is a hockey site but we have been talking about college decisions around spring sports

    Leave a comment:


  • Offsides Guy
    replied
    Re: Coronavirus

    Originally posted by Timothy A View Post
    The economy will bounce back very nicely. Yes, some businesses that were barely holding on will be defunct, but others will be busier because of picking up the market share. Other than that, I don't see any over-riding reason why things won't take back off.
    I have to say, all this doom and gloom about the economy has been embarrassing. This rush to pass stimulus after stimulus package without even waiting to see the results of what's been enacted is ludicrous (and I lean liberal by the way). A "strong" economy should be able to withstand a 60 to 90-day major hit without much issue. If an economy can't, than it wasn't that strong in the first place.

    If there's an economic lesson to be learned in all this, it's that we all have to be much more self-reliant. Imagine how much less economic panic there would be right now if:
    - we had no national deficit?
    - most businesses could go 60 to 90 days covering their basic expenses with cash they've saved?
    - most people could go 60 to 90 days covering their basic expenses with cash they've saved?

    A consumer-based economy is a house of cards if it isn't at least somewhat balanced with savings.

    Leave a comment:


  • Timothy A
    replied
    Re: Coronavirus

    Originally posted by vicb View Post
    The way this corona virus is destroying the economy, there may be no jobs for the graduating seniors to go to. Grad school may not be a bad idea if they can get money to help pay for that.
    The economy will bounce back very nicely. Yes, some businesses that were barely holding on will be defunct, but others will be busier because of picking up the market share. Other than that, I don't see any over-riding reason why things won't take back off.

    Leave a comment:


  • vicb
    replied
    Re: Coronavirus

    The way this corona virus is destroying the economy, there may be no jobs for the graduating seniors to go to. Grad school may not be a bad idea if they can get money to help pay for that.

    Leave a comment:


  • mnwis
    replied
    Originally posted by MAHOCKEY FAN View Post
    This whole situation stinks for everyone. But if the schools keep the seniors and already have next years freshmen ( who btw lost their senior season of high school)...the teams become very large and people will not play. That’s not fair either, and what do you next year, and the year after.....when does it end? Or do you only do it for all-Americans. Again crappy situation.
    Actually, neither college or high school lost their respective seasons...

    Leave a comment:


  • MAHOCKEY FAN
    replied
    Re: Coronavirus

    This whole situation stinks for everyone. But if the schools keep the seniors and already have next years freshmen ( who btw lost their senior season of high school)...the teams become very large and people will not play. That’s not fair either, and what do you next year, and the year after.....when does it end? Or do you only do it for all-Americans. Again crappy situation.

    Leave a comment:


  • Timothy A
    replied
    Re: Coronavirus

    Originally posted by robertearle View Post
    This, of course, doesn't affect hockey, but relates to earlier discussion.

    An utterly horrible, unfathomable decision, IMO. I'm angered and disappointed by it. I hope the athletes involved can find new 'homes' for their delayed senior seasons. Their gain, and Wisconsin's loss.

    https://sports.yahoo.com/wisconsin-t...194125444.html
    It does get difficult for coaches to take on Fr when there will be a whole other class of 5th year Sr's still on rosters. And if you are a Fr, you may lose a whole season of playing time to the 5th yr Sr, but in the end life is all about how you handle deflected shots and I am very disappointed UW is doing this. To go from thinking you had a second chance to play your Sr year to getting it yanked out from underneath you AGAIN is just a bad sad deal.

    Leave a comment:


  • Sean Pickett
    replied
    Re: Coronavirus

    Originally posted by TonyTheTiger20 View Post
    I really think Wisconsin will not be the only one here
    A week ago the Ivy League denied granting an extra year of eligibility to its spring athletes and since then Harvard, Yale and Princeton have denied those athletes the option of withdrawing from school to preserve their eligibility. The Washington Post reported over 90 Ivy athletes had already entered the transfer portal.

    Sean

    Leave a comment:

Working...
X