COVID-19 Accelerating Across the US

[John Galt]

banks should be asked to sacrifice for this. we sacrificed for them with their bailouts, now they should be returning the favor. payments should be delayed. not that it's not due, but basically just move everything out by a year. landlords should make due with what they have but shouldn't be required to pay for mortgages. the only people left "holding the bag" are the bankers who lend out 100 dollars for every dollar they have and make money off of all of it so i am not crying about it

doing this months ago would have taken a great weight off the shoulders of many, tenants and landlords alike

[Kane]

[John Galt]

i was shocked to find out that my sister applied for, and received, money from the small business fund. she has no employees. she just works at home making teeshirts and selling them online. sure, maybe the funds coming in might be less, but she has no expenses; she already either bought the shirts or didn't. she has no storefront, her bedroom is just full of storage for the shirts. she also got bailout money for the variety of rental properties they own. and they are going to be using that money to invest in more ridiculous rental properties. tens of thousands. they have an accountant and that accountant made them quite the windfall, especially because their business was not the kind it was intended to help

my mom on the other hand wrote off a lot of stuff last year with a big move to a new rental space and she was going to have multiple employees in a tutoring business. well that's all shot and now she's paying thousands a month in rent, not bringing anything in sine the kids that need tutoring their parents aren't working, was unable to hire the people she wanted to hire, and received a 3k in aid

[Kane]

[ToddStarnes]

Your sister may want to proactively return it. Shes probably too small fry to go after but some people are going to grt f**k.

JPMorgan Investigating Employees, Clients Over Stimulus Programs https://www.wsj.com/articles/jpmorgan-i ... 1599586697

[Kane]

I'm guessing larger players are unloading their earnings now in light of no further stimulus for the foreseeable future (until the election is over). Just waiting for the states to start cutting their budgets - won't be pretty.

[John Galt]

20% of august cases linked to stugis rally

[Kane]

Ah - nevermind.

https://thehill.com/homenews/senate/515 ... elief-bill

GOP released their "skinny stimulus bill" and there's not even certainty they can get all of the GOP senators to vote in favor. Notably - there is no stimulus check for individuals and no aggregate total yet.

Yeah, consumer spending is going to slow down further. July was at 1.9% - still down 4.6% from February.

https://www.cnbc.com/2020/08/28/persona ... -2020.html

[Kane]

Pretty bad unemployment report out today:

https://www.calculatedriskblog.com/2020 ... ms_10.html

And then there's this:

https://www.reuters.com/article/us-heal ... SKBN26130N

Shocking nobody a stupid $300 billion bill failed to pass a procedural vote in the Senate.

[exploited]

COVID coming back in Canada. The schools opening is gonna bump it up to peak levels. Stay safe all, lockdowns will be returning soon.