Covid 19 Updates Part 2

[Bart_van_der_Wolf]

First off, it still may turn out less than the regular flu.

Huh? 

[James Clark]

Here's an idea for you pro photographers during this time of no work.  Quickly hire 5 guys and have them make hundreds of large, framed beautiful photos for you.  The government will pay their salary.  You'll only have the cost of the material.  Then when they're done, lay them off.  Then go out and sell the photos at low prices that people will scoop up and make huge profits anyway due to no labor costs.  I'm sure you can think of dozens of businesses where this will work for you.  As an American taxpayer, I'm only too glad to help fund your business. 

Your welcome.

You know it doesn't work like that right?  The program is designed to help businesses continue to employ people and make payments like insurance premiums, leases etc.  You don't actually get the loan to transform to a grant if you just pocket the money.  (There's obviously more to it, but as a business owner who's trying to figure out how to keep my employees taken care of right now, that's my general understanding so far.)

[PeterAit]

This is pretty scary. And don't spout the "fake news" crapola, it would just make you look like an idiot.

https://www.nbcnews.com/think/opinion/trump-s-coronavirus-quarantine-rhetoric-fuels-dangerously-politicized-pandemic-ncna1170406

[Slobodan Blagojevic]

This is pretty scary. And don't spout the "fake news" crapola, it would just make you look like an idiot.

https://www.nbcnews.com/think/opinion/trump-s-coronavirus-quarantine-rhetoric-fuels-dangerously-politicized-pandemic-ncna1170406

It says “opinion” in the very link.

[Ray]

So let me see what this means. So a restaurant hires back their workers who they laid off because the restaurant closed.  The workers get 8 weeks of pay for no work paid by the government for loans that will be forgiven if the restaurant hires them back.  But meanwhile the restaurant stays closed because no one's  eating there. What do the workers do for their pay?  What happens after 8 weeks?  Will the government do another bill for another 8 weeks?  What I want to know, is why I'm spending my tax money and can't eat a meal out?

Alan,
This might not be as disastrous as it seems if we make a distinction between 'essential' and 'non-essential' services. Spending a $100 on a tasty meal and a couple of drinks in a restaurant might be good business for the restaurant, but is poor business for the client or consumer. The actual cost of the food and drinks consumed, that could be bought in the Supermarket, is perhaps $20. By doing his own cooking, the consumer saves $80 (or maybe $78, taking the cost of electricity into consideration).

The same situation applies to so many other activities which are, broadly speaking, just entertainment. Footballers, singers, airline and cruise ship employees, hotel employees, and so on, cease to earn money, but all their clients save money.

As long as all the essential services are maintained, such as food production, energy supplies, maintenance of infrastructure, hospital care, and so on, we should be okay.

[Alan Klein]

Yep, Trump should have never signed it, but that's representative democracy at work.

Yes, he's a spendthrift just like the rest of them, maybe worse.  After all, his whole career in real estate is built on debt.

[Craig Lamson]

It says “opinion” in the very link.

Not only that, the author is a day late and a dollar short on the current facts.  Not everyone gets it right. Farewell, made a huge mistake.  Biden and much of the Dem establishment did too by trashing Trumps China blockade and Mayors of New York and New Orleans telling people to go ahead and party.  And let’s not forget the Governor of Florida, a Republican who didn’t close the beaches during Spring Break.  How many cases did this add to the spread when these people came home or continued to move around?

[Peter McLennan]

It says “opinion” in the very link.

Although well laden with facts to back up what limited "opinion" is ventured therein.

.

[Craig Lamson]

Although well laden with facts to back up what limited "opinion" is ventured therein.

.

That Opinion was anything but limited. Pretty much par for the course for an MSNBC “ Think” piece.  A leftist screed and Hit piece.  It might be right up your alley. 

[LesPalenik]

Here's an idea for you pro photographers during this time of no work.  Quickly hire 5 guys and have them make hundreds of large, framed beautiful photos for you.  The government will pay their salary.  You'll only have the cost of the material.  Then when they're done, lay them off.  Then go out and sell the photos at low prices that people will scoop up and make huge profits anyway due to no labor costs.  I'm sure you can think of dozens of businesses where this will work for you.  As an American taxpayer, I'm only too glad to help fund your business. 

Your welcome.

Nowadays, it's hard to sell framed photographs even at the discounted prices. Unless you include with each frame one pack of toilet paper.

[James Clark]

That Opinion was anything but limited. Pretty much par for the course for an MSNBC “ Think” piece.  A leftist screed and Hit piece.  It might be right up your alley.

Dude... you told us we should watch OAN to get perspective. 

[Craig Lamson]

Dude... you told us we should watch OAN to get perspective. 

I read MSNBC first thing every morning to  do just that😎

[Alan Klein]

You know it doesn't work like that right?  The program is designed to help businesses continue to employ people and make payments like insurance premiums, leases etc.  You don't actually get the loan to transform to a grant if you just pocket the money.  (There's obviously more to it, but as a business owner who's trying to figure out how to keep my employees taken care of right now, that's my general understanding so far.)

James, Maybe I don;t understand it.  But I thought the government will reimburse the employer if they keep paying their employees.  In effect, the government is paying their salaries directly or indirectly - doesn;t matter.  The business owner gets back the cost of their salary from Uncle Sam.  Money's fungible.  That money goes to your bottom line as earnings.  So you have cost free labor courtesy of the government for eight weeks. Of course you have to pay leases, rents, utilities, etc.  But so what.  You have to pay that anyway.  The pointis you have free labor the most =costly part of running most businesses.

Am I missing something here?  Could the government be that stupid or maybe I didn't read the rules right?  If this is true, it';s going to be a huge fraud and Trump's going to look like a jerk.  COngress too.  Here the article.  You tell me if I'm right.  It seems you borrow money from the government.  If you use it to pay your employees, which of course you will do, then the load is forgiven.  So you get labor free employees for 8 weeks.  In fact, you can pay lease, rent, utilities also.  You don;t have to repay any of it.  Now how dumb is that?  This is a $377 billion giveaway to small business owners. And the Democrats in the Senate and House agreed to it.  What dummies!  My money.  And yours.  Unless you're in business for yourself.
https://www.nytimes.com/2020/03/26/business/coronavirus-stimulus-small-business.html

"The stimulus package is offering small businesses S.B.A.-backed loans to pay for basic expenses. They would not have to repay portions that were spent on paying employees, a mortgage, rent or utilities. The banks lending the money would be reimbursed for those portions by the Treasury Department, which is receiving $377 billion to fund the program."


"Businesses would not have to repay loans covering up to eight weeks worth of payroll expenses. That means that once businesses receive their loans, a new clock will begin to tick: They’ll have to use the money within two months to avoid repaying it."

Here's another fraud as owners raise salaries of some employees to split the difference in additional pay received from the government up to $100,000 per employee.

"The program comes with restrictions: Loans are limited to $10 million, to businesses with 500 employees or less. Businesses that have recently laid off workers would be required to repay a larger portion of their loans, and loans covering salaries of over $100,000 a year wouldn’t qualify for forgiveness".

[Alan Klein]

Alan,
This might not be as disastrous as it seems if we make a distinction between 'essential' and 'non-essential' services. Spending a $100 on a tasty meal and a couple of drinks in a restaurant might be good business for the restaurant, but is poor business for the client or consumer. The actual cost of the food and drinks consumed, that could be bought in the Supermarket, is perhaps $20. By doing his own cooking, the consumer saves $80 (or maybe $78, taking the cost of electricity into consideration).

The same situation applies to so many other activities which are, broadly speaking, just entertainment. Footballers, singers, airline and cruise ship employees, hotel employees, and so on, cease to earn money, but all their clients save money.

As long as all the essential services are maintained, such as food production, energy supplies, maintenance of infrastructure, hospital care, and so on, we should be okay.

Ray, I'm sorry but I don;t understand your point at all and what it has to do with my point.  My point is the government is paying for labor for a business whose doors are closed.  What are the employees doing?  Nothing?  On the other hand, if the business is open, and doing business, why does the government have to pay their labor costs and the businessmen's other costs?  All that extra money is just going into his pocket.  He's becoming rich on taxpayer money.    It's a redistribution of wealth to business people.

I can understand the part of the bill that provides low interest or no interest loans to the business.  But this is just sticking money in the businessmen's pocket for no reason.  And this is what that genius Mnuchin came up with Trump's approval.

[Alan Klein]

Huh? 

The regular flu killed 50,000 Americans last year.  We're no where near that point with C-19.  I was hoping that the new virus wouldn't be as bad.  Are you hoping it'll be worse?

[Alan Klein]

Nowadays, it's hard to sell framed photographs even at the discounted prices. Unless you include with each frame one pack of toilet paper.

Well I'm not a pro photographer.  But considering the giveaways the government is doing, this is the time to make some money off their stupidity if you are a pro.  If framed photos won;t work, then be creative and think of something else.  Hire an employee to create a website for your company or improve one you have that you can use later. It seems the government will repay his salary for eight weeks.  Hire a guy to develop and photo finish all your prints for that wedding you shot before the crises.  Come on.  There's got to be dozens of things photographers can hire people to do now.  The government's going to pay their salaries.   

Hire me. I'm retired and looking for a few weeks work.  Who cares what it's going to cost you?  You'll get it back. 

[LesPalenik]

The regular flu killed 50,000 Americans last year.  We're no where near that point with C-19.  I was hoping that the new virus wouldn't be as bad.  Are you hoping it'll be worse?

C-19 killed 3,000 Americans in 3 months. If the infection date keeps doubling, the monthly death count would grow exponentially and 50,000 flu deaths would seem miniscule. The only question is how quickly it will double and for how long.

[Alan Klein]

Trump and the rest of the dummies in Congress are already working on the 4th bailout bill.  The ink on the one just passed hasn't dried yet.  The American dollar isn't going to be worth the paper it's printed on.  Your wallpaper will be worth more.  This one will bailout all the broke states and everyone else they missed in the first bill.  Of course, prices on everything will go up 50% and you won't be able to feed your family on your salary.  But hey, let's have a party.

[Alan Klein]

C-19 killed 3,000 Americans in 3 months. If the infection date keeps doubling, the monthly death count would grow exponentially and 50,000 flu deaths would seem miniscule. The only question is how quickly it will double and for how long.

Well of course.  Let's hope the doubling stops and the virus dies out.  In NY, Gov Cuomo said the doubling has gone from 2, then 3, then 5 days, and now I think it may be 6 days.  So maybe we'll get lucky.  Let's hope so. 

[Paulo Bizarro]

Well of course.  Let's hope the doubling stops and the virus dies out.  In NY, Gov Cuomo said the doubling has gone from 2, then 3, then 5 days, and now I think it may be 6 days.  So maybe we'll get lucky.  Let's hope so.

Luck has nothing to do with it. Math does not lie, and the scenarios are there already studied for sure. In Portugal, the estimation ranges between 20,000 and 70,000 deaths, depending on the effect of the isolation measures. In the USA, it will easily go above that - I saw on the news yesterday that Trump mentioned that if the number of deaths stays at or below 200,000 it is a good result. He was comparing with early (?) estimations of 2 million deaths.

It is a balance between the health crisis and the economic crisis - how many deaths are you willing to take, versus not destroying the economic fabric of society. China has opened somewhat already, and they already had a few deaths again.