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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

solovsfett said:
Rant...a company I used to work for laid off 21% of their staff (roughly 3,000 people) during the 08-09 downturn. I just found out today that they laid off 25% of staff in the past week. Capitalism is a cancer. They have over a billion dollars salted away and one of their vaunted executives bankrolled a sports team we all know. Largest principle investor at 250 million. It’s more important to keep stock prices up than to treat employees as if they are human beings with families.

I wish there would be blowback for moves like this but there won’t be.
End of rant.
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This has been the problem with the current system for decades. The people in power do not want this fixed. It's a feature, not a bug.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Any guesses on Thursday's unemployment numbers?

This would be initial claims for the week ending April 4th.

I'm going to guess a slight drop from the giant week, only 4.5 Million, for a grand total of 14.5 unemployed in the last three weeks.

With Disney announcing furloughs, DX's company, and many similar to mine making smaller cuts, this is going to easily stretch to 20 Million.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Thoughts and prayers <a href="https://t.co/4uSZVxoNVG">https://t.co/4uSZVxoNVG</a></p>— Erik Loomis (@ErikLoomis) <a href="https://twitter.com/ErikLoomis/status/1247685631528091654?ref_src=twsrc%5Etfw">April 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Deutsche Gopher Fan said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Thoughts and prayers <a href="https://t.co/4uSZVxoNVG">https://t.co/4uSZVxoNVG</a></p>— Erik Loomis (@ErikLoomis) <a href="https://twitter.com/ErikLoomis/status/1247685631528091654?ref_src=twsrc%5Etfw">April 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Hopefully, this brings about a massive overhaul/change in philosophy...not going to hold my breath though.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Deutsche Gopher Fan said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Thoughts and prayers <a href="https://t.co/4uSZVxoNVG">https://t.co/4uSZVxoNVG</a></p>— Erik Loomis (@ErikLoomis) <a href="https://twitter.com/ErikLoomis/status/1247685631528091654?ref_src=twsrc%5Etfw">April 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The only way to prevent more layoffs at the NRA is with more layoffs at the NRA.</p>— Its a CULT (@stephen_pearce) <a href="https://twitter.com/stephen_pearce/status/1247614893567565824?ref_src=twsrc%5Etfw">April 7, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Oh that is gold
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

aparch said:
Any guesses on Thursday's unemployment numbers?

This would be initial claims for the week ending April 4th.

I'm going to guess a slight drop from the giant week, only 4.5 Million, for a grand total of 14.5 unemployed in the last three weeks.

With Disney announcing furloughs, DX's company, and many similar to mine making smaller cuts, this is going to easily stretch to 20 Million.
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Well, these weren’t furloughs. Just mandatory use of vacation or unpaid leave. Not sure if mandatory unpaid leave is the same technically as furlough. I don’t understand unemployment law well enough.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

MinnesotaNorthStar said:
Hopefully, this brings about a massive overhaul/change in philosophy...not going to hold my breath though.
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Yeah, don't bother. The NRA will never return to its nonpartisan 1960s model of promoting sportsmanship/marksmanship, safety, and sensible legislation. That ship sailed with Harlon Carter at the "Cincinnati Coup" and went full-steam ahead with Neal Knox and Wayne LaPierre. The ammosexuals won the war for the near-term future of America's gun laws, and someday after several dozen more mass shootings and once rural America no longer has the numbers to beat it back, 2A is going to be amended or overturned. Once that's done, in some states you'll be lucky to keep dad's deer rifle.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

CNBC this morning discussing poll numbers regarding the business side of this pandemic and reaction. (Typing while driving)

Trump approval. From 43 to 46.
Trump disapproval. From 49 to 40

Democrats in congress approval. ~40
Republicans in congress approval. ~40

Bailout approval. Supportive by both parties.

New bailout talk should focus on:
Hospitals, small businesses, local restaurants, actual people. Overwhelming bipartisan support for this.

Industries that can go fu** themselves: oil and gas, air lines, large corps who are looking for a hand out, cruise ships. Especially cruise ships. Overwhelming bipartisan support for these industries to go die in a fire.

They also noted that there are conservative Republicans starting to privately whisper concern about how this all gets paid for.
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

aparch said:
CNBC this morning discussing poll numbers regarding the business side of this pandemic and reaction. (Typing while driving)

Trump approval. From 43 to 46.
Trump disapproval. From 49 to 40

Democrats in congress approval. ~40
Republicans in congress approval. ~40

Bailout approval. Supportive by both parties.

New bailout talk should focus on:
Hospitals, small businesses, local restaurants, actual people. Overwhelming bipartisan support for this.

Industries that can go fu** themselves: oil and gas, air lines, large corps who are looking for a hand out, cruise ships. Especially cruise ships. Overwhelming bipartisan support for these industries to go die in a fire.

They also noted that there are conservative Republicans starting to privately whisper concern about how this all gets paid for.
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Well, ******** getting a bump. Surprise, surprise.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

ScoobyDoo said:
Well, ******** getting a bump. Surprise, surprise.
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The only thing anyone ever likes him for is business, and that bump still sucks. His overall numbers still stink his bump is almost gone.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

French Rage said:
lolwut
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It's inevitable that as major gun violence continues unchecked, and a loud/angry minority continue to insist that any legislation of firearms is unreasonable and unconstitutional, a majority of Americans will eventually grow weary enough that they will support an end to all gun ownership. Sort of like dealing with a misbehaving child - if you won't play nice, then you lose all of your toys.

At any rate, this isn't really a discussion for this particular thread.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">In a video obtained by The Post, federal official blasts big banks over failure to quickly distribute small business loans <a href="https://t.co/58j0HYA1am">https://t.co/58j0HYA1am</a></p>— The Washington Post (@washingtonpost) <a href="https://twitter.com/washingtonpost/status/1247896687491698689?ref_src=twsrc%5Etfw">April 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

CNBC is hearing an estimated five million new claims will be announced tomorrow morning. On top of the six and a half million last week and three and a half the week prior.

If that's true, that's 15 million people unemployed within three weeks.

And, there is now talk that some states only have *weeks* worth of unemployment funding saved up, which will cause them to borrow from the Treasury to cover.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

That's interesting cause I just heard today that there are supposed to be huge incentives in place for employers to keep people on the payroll (employed). Seems there is a contradiction there.
 
ScoobyDoo said:
That's interesting cause I just heard today that there are supposed to be huge incentives in place for employers to keep people on the payroll (employed). Seems there is a contradiction there.
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This would be people who were laid off for week ending March 28th. Trump approved the plan that included the small business loans for keeping people employed on the 27th.

There will likely be a lull in newly unemployed for week ending April 4th, and then a jump again for the week ending this Saturday (April 11th) as states extended S-I-P and ordered more businesses closed.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

aparch said:
This would be people who were laid off for week ending March 28th. Trump approved the plan that included the small business loans for keeping people employed on the 27th.

There will likely be a lull in newly unemployed for week ending April 4th, and then a jump again for the week ending this Saturday (April 11th) as states extended S-I-P and ordered more businesses closed.
Click to expand...

Ok, that makes sense.
 
ScoobyDoo said:
Ok, that makes sense.
Click to expand...

Wait, wait, wait. I need to correct my post, and some prior posts. Because I, not an economist who is learning on the fly while listening to business radio, was wrong about the lag time in reporting unemployment numbers.

Tomorrow's initial jobless claims will be for those claims filed the week ending April 4th. (March 29 thru April 4th)

Projections now estimate another SIX million filed last week. We find out tomorrow at 730 am.


So to recap:
December 29-January 4 = 212,000 initial claims added to unemployment
January 5-11 = 207,000 initial claims
January 12-18 = 220,000 initial claims
January 19-25 = 211,000 initial claims
January 26-February 1 = 201,000 initial claims
February 2-8 = 204,000 initial claims
February 9-15 = 215,000 initial claims
February 16-22 = 220,000 initial claims
February 23-29 = 216,000 initial claims
March 1-7 = 211,000 initial claims
March 8-14 = 280,000 initial claims
March 15-21 = 3.3 Mil initial claims
March 22-28 = 6.6 Mil initial claims added to unemployment
March 29-April 4 = ???

March 29-April 4 would be the week after Congress historically pushed through the funding for companies who wanted to hang on. If they're estimating another six million off the payrolls... :eek:

*edit* And according to This site there were an estimated seven million people already unemployed at the beginning of march (Ending March 1st) meaning seven million plus half a million (estimated) before coronavirus layoffs, plus the 10 million from Coronavirus (so far) means there are approximately 17 million people unemployed in the US currently. And growing. :eek::eek:
 
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