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#1611162 - 03/24/20 09:13 AM Lost income tsunami
jr45 Offline
Gun fool

Registered: 11/30/08
Posts: 835
Loc: VA
City or County: Stafford
An out of state friend of mine was just laid off due to force closer of non-essential stores. This made me think with tens of millions being laid off as we speak and estimates as high as 30% unemployment (higher than the 1930s depression) in the near future, I question how long it would take us to recover. Granted, once the forced business closure ends, many will be back at work however; there will be so many jobs and business that will be lost forever. In addition, most are living pay check to pay check and unable to pay rent and may find themselves homeless.

The markets lost a third or more of it value causing many retirees/soon to be retirees to panic or hold off on retirement. The 1.6 Trillion on dollar relief package working its way through the senate offer $1200 per person? Not sure how long that would cover the living expenses for most folks. How long do you think it will be for us to fully recover from this?

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#1611191 - 03/24/20 10:16 AM Re: Lost income tsunami [Re: jr45]
Cash is King Offline
Nice guy... NO MORE

Registered: 09/15/11
Posts: 5902
Loc: Woodbridge/Stafford/Gloucester...
City or County: Prince William, Stafford & Gloucester monthly.
Maybe the better idea is to not give $1,200 to every man woman and child in America. But give more to the 30% that actually lost their job and are not getting a paycheck.
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#1611215 - 03/24/20 11:31 AM Re: Lost income tsunami [Re: Cash is King]
g-shooter Offline
Great at putting the worm on the hook!!

Registered: 09/19/11
Posts: 477
Loc: NoVa
City or County: Alexandria
100 EBT credit for food per week for every person.

Done.
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#1611291 - 03/24/20 01:46 PM Re: Lost income tsunami [Re: g-shooter]
jr45 Offline
Gun fool

Registered: 11/30/08
Posts: 835
Loc: VA
City or County: Stafford
The $100 credit will not cover rent/mortgage, etc.. Some mortgage companies may/hopefully work with borrowers during their unemployment and hopefully these mortgage companies donít implode by the high number of non-payments. As for renters, I donít see many landlords letting forks stay for free very long.

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#1611825 - 03/25/20 03:38 PM Re: Lost income tsunami [Re: jr45]
panic788 Offline
Marksman

Registered: 08/29/13
Posts: 305
Loc: NOVA
City or County: Alexandria
Originally Posted By: Cash is King
Maybe the better idea is to not give $1,200 to every man woman and child in America. But give more to the 30% that actually lost their job and are not getting a paycheck.


How many jobs did you lose during this? I think I lost at least 4 jobs, does that mean 4 times as much for me as the next person? I understand the metric will probably be dependent on many factors, but also know there are lots of people who will abuse the system and that no one will be happy enough with the results because greedy people are greedy. My folks have long since been retired. They did what they needed to do to build a retirement nest egg. The markets tanked, and while those losses are currently only on paper, if the markets don't return, then they start becoming more and more real. Do they get no assistance because they didn't lose their job like everyone else? There are going to be many sides to this to work with.

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#1611838 - 03/25/20 03:57 PM Re: Lost income tsunami [Re: panic788]
Cash is King Offline
Nice guy... NO MORE

Registered: 09/15/11
Posts: 5902
Loc: Woodbridge/Stafford/Gloucester...
City or County: Prince William, Stafford & Gloucester monthly.
Originally Posted By: panic788
Originally Posted By: Cash is King
Maybe the better idea is to not give $1,200 to every man woman and child in America. But give more to the 30% that actually lost their job and are not getting a paycheck.


How many jobs did you lose during this? I think I lost at least 4 jobs, does that mean 4 times as much for me as the next person? I understand the metric will probably be dependent on many factors, but also know there are lots of people who will abuse the system and that no one will be happy enough with the results because greedy people are greedy. My folks have long since been retired. They did what they needed to do to build a retirement nest egg. The markets tanked, and while those losses are currently only on paper, if the markets don't return, then they start becoming more and more real. Do they get no assistance because they didn't lose their job like everyone else? There are going to be many sides to this to work with.


No nitwit, folks that are fixed income that stopped getting any source of income would obviously be entitled to a check. But if they're retired and they still get their pension why do they get extra money?

If you indeed lost 4 or more jobs than you must really have some low paying jobs. I would agree that you deserve a check like everyone else.

But if you are an essential employee making full pay or double pay or triple play do you really think that you're entitled to an additional check and why.

As the warning says on Q-tips do not insert into ear... in your case you might lose the Q-tip.
_________________________
IF you spend your lifetime acting the victim, your Participation Trophy will ALWAYS be a Busted Nose.

I-95 "Fast Lanes" solved NOTHING!!!




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#1611946 - 03/25/20 06:25 PM Re: Lost income tsunami [Re: jr45]
toughtom12 Offline
Gun fool

Registered: 11/15/11
Posts: 913
Loc: Centreville/Manassas
City or County: Manassas
Sounds like "From Each according to his ability, to each according to his needs". JK, This is a tricky situation. And I have no idea how to disperse the checks. But the Govt better do something soon, a lot of people are nervous and desperate.

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#1611982 - 03/25/20 07:25 PM Re: Lost income tsunami [Re: jr45]
panic788 Offline
Marksman

Registered: 08/29/13
Posts: 305
Loc: NOVA
City or County: Alexandria
Someone must not sense sarcasm very well. **shakes head**

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#1612066 - 03/25/20 10:11 PM Re: Lost income tsunami [Re: jr45]
Cash is King Offline
Nice guy... NO MORE

Registered: 09/15/11
Posts: 5902
Loc: Woodbridge/Stafford/Gloucester...
City or County: Prince William, Stafford & Gloucester monthly.
If the entire valve of every business, house, car, boat etc.... every single asset there is in America (minus the debt of businesses and people) was defined as $100 widgets... my "ROUGH" estimate is that 30% of that entire value is now vaporized.

That means if you have a $100,000 house it is currently worth $70,000

A $10,000 truck... call it $7k.

How we solve all this is not yet determined.

If you seek a Government solution be careful that you are staring SOCIALISM straight in the eyes.

If you are looking to yourself and your community... you are walking the exact same path that founded America.

Good luck
_________________________
IF you spend your lifetime acting the victim, your Participation Trophy will ALWAYS be a Busted Nose.

I-95 "Fast Lanes" solved NOTHING!!!




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