New Coronavirus - COVID-19

[freebeard]

TLDR; here's Summarize Text set to minimum:

The loss of GM would be like the loss of Pan Am, TWA, and other companies that had a strong American heritage but lost their competitiveness.

The scope of change is bigger than individual industries.

Trends toward robotics and AI will accelerate.


http://www.thetimesinplainenglish.co...Trump-work.png

[Xist]

People keep saying that the airlines do not have the emergency savings that all of us are supposed to have because they bought back all of their stock. I do not mind the government buying their stock under a number of conditions, but I do not want taxpayers losing money this time.

Are there any airlines that do not need a bailout? I do not know, but I found several articles saying they don't deserve it. This is the first one without a paywall: Don’t Give the Airlines What They Want

Edit! Isn't the Fed trying to print its way out of this mess?

[redpoint5]

Originally Posted by Fat Charlie

Have you seen the difference in hurricane relief to Houston and Puerto Rico? I'll give you a hint: one is in Texas and the other is a little different.

I understand trying to withhold judgement, but at some point you've got to exercise it.

No, I don't follow the news much.

The national response is always political in nature regardless of which party holds it. When an ally who is a strategic energy partner gets attacked, we send tanks and bombs. When dark skinned people get slaughtered in a genocide, we have little interest.

Originally Posted by Xist

People keep saying that the airlines do not have the emergency savings that all of us are supposed to have because they bought back all of their stock. I do not mind the government buying their stock under a number of conditions, but I do not want taxpayers losing money this time.

Isn't the Fed trying to print its way out of this mess?

The big picture is that if people aren't working, we lose that productivity and there's no way to get it back. Nothing in the future can make up for the fact that we're operating now at a low capacity, and it will have ramifications forever.

Normally we'd be experiencing some inflation, and slight inflation is economically good overall. Instead, with productivity massively down, we're undergoing rapid deflation. A government injection of cash will somewhat offset that deflation and get people that do not have rainy day funds (most people) through the crisis.

The whole talk about making the crisis funds "fair" is foolish and merely delays what is needed now. Wealthy people receiving the funds will end up paying a higher percentage in taxes on their portion next tax period. Some of them may spend the extra cash which will increase economic activity, which is good.

Minimum wage falls under the academic domain of economics, and economists have consensus that any minimum wage is a net harm. Bickering over what the minimum wage should be is merely deciding what amount of harm we should inflict on people.

Cancelling student debt is entirely a political move and should be dismissed as the evil idea it is. The reason why some have chosen student loan debt to be subsidized by taxpayers is that the majority of college students and young graduates are left leaning.

Universal health care of some sort probably should just happen, but it will be a long time before we see it.

[serialk11r]

The financial industry isn't getting a bailout like last time, it's the conduit for getting the Fed's free money to large corporations. Banks are printing money because of the volatility, they'll be fine and the people getting the big bonuses will have earned them for producing record profits.

The fight is over which large corporations get the free money. I personally think small businesses need some direct assistance of some sort, since UBI doesn't help if no one can go outside to spend money.

It's ugly, but the reality is that it's impossible for low margin restaurants and stores to survive without revenue for any extended period of time. The store rent is what it is because the lease agreements are signed when things are going fine. It's a form of corporate debt that can't be sold off.

Meanwhile, real estate is also levered up a lot because the owners/developers can't afford to buy the place in the era of free money without loans either.

This is why the low interest rate policy that Japan/EU/US have pursued is so insanely dangerous. Everyone gets addicted to debt, and you can't drop the rates to provide relief when you need it.

[freebeard]

Cancelling student debt is entirely a political move and should be dismissed as the evil idea it is.

Agreed. Too much buyer's remorse.

I understand trying to withhold judgement, but at some point you've got to exercise it.
No, I don't follow the news much.

Two words: en.wikipedia.org: Cajun Navy

[redpoint5]

The owner of my wife's practice appears to have laid off 3 nurse practitioners and my wife volunteered to go to half-time. One of the two urgent care clinics will be temporarily closed, if not closed forever.

Most patients are being evaluated over the phone which are reimbursed by insurance at $20, or nowhere near a break even cost. Well patient visits (check ups) are done in the morning, and symptomatic patients requiring further examination are scheduled in the afternoon.

Overall business is at 1/3rd of normal.

An email I received says the shelter in place order has been issued for Oregon, though I don't know when that goes into effect and I haven't seen anything via Google search.

[JSH]

Originally Posted by redpoint5

An email I received says the shelter in place order has been issued for Oregon, though I don't know when that goes into effect and I haven't seen anything via Google search.

Effective immediately with no end date.

The Executive Order is here: https://govsite-assets.s3.amazonaws....EO%2020-12.pdf

[freebeard]

AvE has a thought:

https://www.youtube.com/watch?v=N1OFMZDNKvU

'Spanx for watchin"

[Xist]

"The way to get a good answer on the Internet is not to post a question, but to post a wrong answer."

"If the option is this or death, which would you take?"

Mom insisted that I found the horrible decorations that my other sister (not the one about whom I usually complain) sent me so she could put them up, but then she said that she did not want to.

However, I found my respirator--the day after I saw my sister, the nurse practitioner, who keeps complaining that nobody at her hospital has the proper PEE.

I have not shaved in ten days. I covered both filters, inhaled, and couldn't get any air.

[Xist]

Chief Minister of Australia's Northern Territory: "Half-measures are not helping. We must act so we do not become another Italy, or another America or another UK, where the spread is getting wider, and the list of the sick and dead is getting longer." https://bnonews.com/index.php/2020/0...-news-updates/