Do a bunch of people "looking to make up for having gone two months or more without spending much money" make up for the 20+ million new unemployed people?
― DJI, Thursday, 16 April 2020 20:42 (four years ago) link
I don't think so - hence the prediction that "This will still leave us with a serious slump and high unemployment, but a real problem with inflation." - Kind of a worst of possible worlds
― Li'l Brexit (Tracer Hand), Thursday, 16 April 2020 20:46 (four years ago) link
like, i don't like to count other peoples' money but I have been surprised about the nonessential stuff people are saying they want to buy with their $1200 +whatever. So maybe ^^^.
― Yerac, Thursday, 16 April 2020 20:47 (four years ago) link
'i didn't spend much over the last two months; better go crazy now' doesn't feel like standard behavior to me
― mookieproof, Thursday, 16 April 2020 20:48 (four years ago) link
Yeah he could be wrong. Things like services, for instance, won't 'roar' back. You can't get three haircuts at once.
― Li'l Brexit (Tracer Hand), Thursday, 16 April 2020 20:55 (four years ago) link
not without my stylist agreeing to new and previously uncharted areas of responsibility vis a vis my body hair anyway
― silby, Thursday, 16 April 2020 21:01 (four years ago) link
You can't get three haircuts at once.
― Li'l Brexit (Tracer Hand),Thursday, April 16, 2020 1:55 PM (seven minutes ago) bookmarkflaglink
with how long my hair is gonna be at the end of this, maybe i can
― mellon collie and the infinite bradness (BradNelson), Thursday, 16 April 2020 21:02 (four years ago) link
brad I got my hair dyed pink on February 17th it's gonna get so bad
― silby, Thursday, 16 April 2020 21:03 (four years ago) link
I don't get the impression that most of the country are just trucking along financially, socking all their expendable income away in wait of June 1.
― Greta Van Show Feets BB (milo z), Thursday, 16 April 2020 21:31 (four years ago) link
Devastating stats in this article: Less than half of LA County residents still hold a job, and a third believe they will run out of money in the next three months. https://t.co/OA9qpPP4A7— Nithya Raman (@nithyavraman) April 17, 2020
― 𝔠𝔞𝔢𝔨 (caek), Friday, 17 April 2020 18:33 (four years ago) link
Take care of the weak first, it's the American way! Owner of Ruth's Chris steakhouses, a company with more than 5,000 workers, received $20 million in forgivable loans on April 7, a securities filing shows https://t.co/YoTn5wndZM via @WSJ— Doug Henwood (@DougHenwood) April 17, 2020
― brooklyn suicide cult (Dr Morbius), Friday, 17 April 2020 23:26 (four years ago) link
Like stakehouse employees?
― Mordy, Friday, 17 April 2020 23:39 (four years ago) link
"ruth's chris steak house" is such an abomination of a name they should be the first against the wall
― mellon collie and the infinite bradness (BradNelson), Friday, 17 April 2020 23:44 (four years ago) link
ugh, do you mind if we hit my fifth third bank atm on the way to ruth's chris steak house? i want to make sure i can give my tongue a bunch of papercuts afterward
― let me be your friend on the other end! (Karl Malone), Friday, 17 April 2020 23:53 (four years ago) link
Let their fatcat bosses purveying lousy food go broke paying em
― brooklyn suicide cult (Dr Morbius), Saturday, 18 April 2020 00:02 (four years ago) link
i think the idea is that they wouldn't pay them
― Nudeln und Klopapier Gore (Sufjan Grafton), Saturday, 18 April 2020 00:09 (four years ago) link
otherwise
my friend works at Ruth's Chris
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Saturday, 18 April 2020 00:13 (four years ago) link
do you mind if we hit my fifth third bank atm on the way
lol
― There's more Italy than necessary. (in orbit), Saturday, 18 April 2020 00:27 (four years ago) link
fifth third bank - it's your first choice for seventh-day adventist church members.
on may 9th.
11th!!!
― let me be your friend on the other end! (Karl Malone), Saturday, 18 April 2020 00:34 (four years ago) link
lol fifth third bank is the sponsor of a surprising number of midwest league ballparks
― mookieproof, Saturday, 18 April 2020 02:47 (four years ago) link
I've been to at least two
― brooklyn suicide cult (Dr Morbius), Saturday, 18 April 2020 02:50 (four years ago) link
the thing is, with the PPP loans and the EIDL loans, they are intended to keep workers paid, which is why they come with terms for forgiveness if a business does keep the workers paid. However, the interest rate on the loans without the forgiveness is still pretty low compared to other forms of debt, thus, I can see (unfortunately, in a "this is why we can't have nice things" kinda way) cold-hearted corporate assholes just saying, "fuck paying the workers, we'll use the loan money as we see fit and pay the low interest rates" ...
― sarahell, Sunday, 19 April 2020 15:51 (four years ago) link
We need a federal paycheck guarantee pronto, call your congressperson and voice your support for Pramila Jayapal’s proposal
― silby, Sunday, 19 April 2020 16:24 (four years ago) link
what proposal is this?
― sarahell, Sunday, 19 April 2020 17:11 (four years ago) link
https://www.vox.com/2020/4/10/21215611/pramila-jayapal-paycheck-guarantee-act-denmark
― silby, Sunday, 19 April 2020 17:14 (four years ago) link
so basically this is the same thing as the PPP program, but going through the US Treasury as opposed to the SBA and banks. ... but without any provisions for self-employed people.
― sarahell, Sunday, 19 April 2020 17:30 (four years ago) link
on a nuts-and-bolts level, I feel like this should be a supplement to the PPP, which needs way more funding -- because there are already tons of businesses that have already applied to it, whose applications are just in limbo, pending more funding. That program actually has provisions/ procedures for self-employed people (and partners in partnerships) to get paid. But this would be super helpful to businesses that haven't begun that application process, and/or don't have relationships with banks and "fintech" companies.
― sarahell, Sunday, 19 April 2020 17:37 (four years ago) link
and calling it a grant is off to me -- I would think it would be closer to an advance payment of a tax credit, (if it's not going to be a forgivable loan) whereby those businesses that take the money and don't rehire workers or pay workers, have to pay it back.
― sarahell, Sunday, 19 April 2020 17:40 (four years ago) link
― sarahell, Sunday, April 19, 2020 11:51 AM (four hours ago) bookmarkflaglink
to some extent feature not a bug
imagine a business that has 0 income now, they can’t even keep workers on for the 25% or whatever numbers these policies use; keeping them afloat with cheap loans at least makes it possible the business survives to rehire
― flopson, Sunday, 19 April 2020 20:12 (four years ago) link
This is the first time I am hearing of Fifth Third Bank: Lol.
― Fetch the Bolt Thrower (PBKR), Sunday, 19 April 2020 20:16 (four years ago) link
they say a good compromise is one in which neither side is happy
― let me be your friend on the other end! (Karl Malone), Sunday, 19 April 2020 20:18 (four years ago) link
Wait “fifth third” isn’t a typo? What does it mean? Is it like a weird Masonic thing? Or Adventist or something?
― silby, Sunday, 19 April 2020 20:20 (four years ago) link
"The name "Fifth Third" is derived from the names of the bank's two predecessor companies, Third National Bank and Fifth National Bank, which merged in 1909.
it should be third fifth! no it should be fifth third! no!
― let me be your friend on the other end! (Karl Malone), Sunday, 19 April 2020 20:22 (four years ago) link
Three Fifths Bank is what I keep thinking of
― silby, Sunday, 19 April 2020 20:24 (four years ago) link
in the end, i'm sure it just came down to simple math
a fifth instance of a third would be 5/3, the third fifth would only be 3/5.
5/3 > 3/5, AND F becomes before T, alphabetically. BOOM, negotiation won
― let me be your friend on the other end! (Karl Malone), Sunday, 19 April 2020 20:24 (four years ago) link
fifth turd
― flopson, Sunday, 19 April 2020 20:57 (four years ago) link
-2 Chainz
― genital giant (Neanderthal), Sunday, 19 April 2020 21:17 (four years ago) link
had the same thought as silby, 3/5 bank sounds like some weird redlining neo-confederate entrprise
― mh, Sunday, 19 April 2020 22:00 (four years ago) link
can i get paid by jayapal on paypal?
― Fuck the NRA (ulysses), Sunday, 19 April 2020 23:01 (four years ago) link
So the investment advisor at our company is recommending the company invest in mortgage-backed securities. I don't know shit about investing, but it seems insane to me to invest in them right now given the amount of people out of work and who will be defaulting on their mortgages in the coming months/years.
― Fetch the Bolt Thrower (PBKR), Monday, 20 April 2020 12:11 (four years ago) link
The name "Fifth Third" is derived from the names of the bank's two predecessor companies, Third National Bank and Fifth National Bank, which merged in 1909.
Should've just compromised and gone with Fourth National Bank...
― Lee626, Monday, 20 April 2020 12:45 (four years ago) link
― flopson, Sunday, April 19, 2020 1:12 PM (yesterday)
that is what the EIDL loans were designed for, actually. The PPP loans were a bit different. One of the problems (in defense of the poor steakhouse chain) is that the government announced there would be a separate program for "mid-size to larger employers" but that was still "in the works." Basically, there needs to be more money supplied to these programs by the government.
― sarahell, Monday, 20 April 2020 15:21 (four years ago) link
rolling italian economy into the shitbin
https://slate.com/news-and-politics/2020/04/italy-workers-recession-coronavirus.html
― reggie (qualmsley), Monday, 20 April 2020 15:44 (four years ago) link
am i reading this correctly? the U.S. benchmark for oil (West Texas Intermediate) is at $1.28 (!!) right now
https://markets.businessinsider.com/commodities/oil-price?type=wti
https://i.imgur.com/oYeCFeU.png
― let me be your friend on the other end! (Karl Malone), Monday, 20 April 2020 17:53 (four years ago) link
gonna get some for my house
― silby, Monday, 20 April 2020 17:54 (four years ago) link
a barrel of oil costs less than...pretty much anything you can buy
― let me be your friend on the other end! (Karl Malone), Monday, 20 April 2020 17:55 (four years ago) link
WTI has actually gone negative:
BREAKING: WTI crude oil futures trade at negative price for first time https://t.co/pOSyH6AVtP pic.twitter.com/XsoH1jG8WH— Bloomberg (@business) April 20, 2020
So that's what mass margin calls on the commodity markets can look like.
― speaking moistly (Sanpaku), Monday, 20 April 2020 18:19 (four years ago) link
all i know is i got gas for like $2.50/gallon last week and I think the last time it was that cheap was like almost 20 years ago?
― sarahell, Monday, 20 April 2020 18:23 (four years ago) link
$1.15 at the local Costco. Shame I've only maybe used a gallon in the past month.
― speaking moistly (Sanpaku), Monday, 20 April 2020 18:28 (four years ago) link