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(The Atlantic)   We're hitting a crucial turning point in the pandemic recession   (theatlantic.com) divider line
    More: Scary, Great Depression, CARES Act, Beth Mattingly, crucial financial help, American people, additional support, federal government, pandemic-assistance legislation  
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4981 clicks; posted to Business » and Politics » on 24 Aug 2020 at 7:55 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-08-24 8:04:26 AM  
Seems like it is again time for the government to give unregulated handouts to large businesses.
 
2020-08-24 8:05:09 AM  
We can't enable lazy moocher workers to stay home also workers are so vitally important that our economy will die without them. But don't let anyone hear the second part or we may have to funnel some tax money to them instead of wealthy donors.
 
2020-08-24 8:05:46 AM  
"Freedom from fear is something that society should provide low-income families"

Indeed.
 
2020-08-24 8:10:30 AM  
It's disappointing for The Atlantic to call it a "turning point" when what really happened was ordinary Americans were headed off a cliff and the Republican Senate refused to help. We knew this was coming, and failing to reauthorize the stimulus checks and enhanced unemployment was just dumb. The only explanation is that they know Trump is going to lose and they want to sabotage Biden's economy in advance, and/or their wealthy donors would rather tank the economy than end up having to pay more taxes to fund this.
 
2020-08-24 8:12:32 AM  
But Stonks.
 
2020-08-24 8:12:37 AM  
Hopefully, the double hurricanes in the gulf won't be too severe because I'm not sure I want to see what happens when you add this on top of a natural disaster like that.  This country is in deep crap as the west coast is on fire and no help.  The north is gettin drenched while the south is about to get hit with hurricanes and the entire mail network that people depend on is artificially crippled. Real unemployment is easily rivaling anything the Great Depression has thrown our way but the entire nazi party is out there pledging their undying loyalty to their fuher this week at a convention that will ultimately be a giant money laundering scam for the trumps.   It's all just too much....
 
2020-08-24 8:12:38 AM  
The only solution that could possibly work is MORE TAX CUTS FOR THE JOB CREATORS™
 
2020-08-24 8:13:55 AM  

saywhonow: The only solution that could possibly work is MORE TAX CUTS FOR THE JOB CREATORS™


We've given them tax cuts.
We've given them handouts.

So the obvious answer here is that we do both at the same time....
 
2020-08-24 8:17:37 AM  
Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe
 
2020-08-24 8:18:12 AM  
I'm surprised it wasn't in the first couple posts so I'll put it up:

It's a feature not a bug. The cruelty is the point.
 
2020-08-24 8:18:29 AM  

40 degree day: It's disappointing for The Atlantic to call it a "turning point" when what really happened was ordinary Americans were headed off a cliff and the Republican Senate refused to help. We knew this was coming, and failing to reauthorize the stimulus checks and enhanced unemployment was just dumb. The only explanation is that they know Trump is going to lose and they want to sabotage Biden's economy in advance, and/or their wealthy donors would rather tank the economy than end up having to pay more taxes to fund this.


or trying to play games and blame all the delay and uncertainty on the democrats, then swoop in in october with checks and another letter from trump saying how he just saved your family from ruin

meanwhile it'll take months to get checks out like it did last time and just go to remind people how utterly useless trump is
 
2020-08-24 8:20:36 AM  
Elections have consequences. This is whst happens when you vote GOP.

Fark user imageView Full Size
 
2020-08-24 8:22:36 AM  
As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?
 
2020-08-24 8:23:01 AM  
They're just not pursuing happiness hard enough.
 
2020-08-24 8:26:12 AM  
"That is why I put God in front, and God will make a way," he said.

OK.
 
2020-08-24 8:26:21 AM  

twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?


The stock market has nothing to do with the average American.
When it's bad, it's an excuse to lay off people, but it being good doesn't prevent it.
Someone will inevitably chime in that your retirement is tied up in the stock market, and those sweet summer children don't seem to understand why less and less people care about that particular chestnut.
 
2020-08-24 8:27:07 AM  

twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?


The second, obviously.

Which is why McTurtleface is demanding even more for them, and a lot less for everyone else.  On top of giving businesses the ability to basically say 'fark you' to all the families of their workers, should they die due to lack of providing protection for said workers (which is something he is demanding in any bill, the ability to put protections against lawsuits against corporations should they be found negligent).

As far as the Stock Market, we are now seeing that it is completely uncoupled from the economy.  The fact that it keeps going up and up means that they see the possibility of more for them and less for us as being a strong possibility.  And that's it's just a playground for the ultra-wealthy to make even more money by doing nothing.
 
2020-08-24 8:27:35 AM  

RedSectorA: Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe


Fark user imageView Full Size
 
2020-08-24 8:29:34 AM  

RedSectorA: Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe


Arguing with you would be fruitless. You refuse to budge on what liberty or freedom means. You firmly stand behind the ideal that individual freedom means more than anything, even the safety and well being of the entirety of the country. You focus on the assumed ills of "capitalists" having to deal with standardization and regulation rather than the health, safety, and fiscal stability of those who actually provide the product/service such "capitalists" profit from.

You are a wonderful example of one of my favorite quotes:

"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires." - Ronald Wright
 
2020-08-24 8:31:23 AM  

AurizenDarkstar: twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?

The second, obviously.

Which is why McTurtleface is demanding even more for them, and a lot less for everyone else.  On top of giving businesses the ability to basically say 'fark you' to all the families of their workers, should they die due to lack of providing protection for said workers (which is something he is demanding in any bill, the ability to put protections against lawsuits against corporations should they be found negligent).

As far as the Stock Market, we are now seeing that it is completely uncoupled from the economy.  The fact that it keeps going up and up means that they see the possibility of more for them and less for us as being a strong possibility.  And that's it's just a playground for the ultra-wealthy to make even more money by doing nothing.


Need an economist Farker to comment: what is the outcome of the stock market completely decoupling from the economy? Is it good/bad and why?

It sounds bad to me but I don't have a real defined basis as to why.
 
2020-08-24 8:33:50 AM  

Sophont: twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?

The stock market has nothing to do with the average American.
When it's bad, it's an excuse to lay off people, but it being good doesn't prevent it.
Someone will inevitably chime in that your retirement is tied up in the stock market, and those sweet summer children don't seem to understand why less and less people care about that particular chestnut.


I get that, really. But is it really just it's own faith based institution?

I don't expect the market to be fully tied to reality, but if all Tesla factories and cars got hit by a meteor and there's nothing but a smoldering crater where they stood, I can't accept that the stock could trend anyway but downward. How am I wrong about this? I am generally asking before I take that further swan dive into madness.
 
2020-08-24 8:35:06 AM  
Yeah, but...

Fark user imageView Full Size
 
2020-08-24 8:36:06 AM  
Fark user imageView Full Size
 
2020-08-24 8:38:43 AM  

sleze: AurizenDarkstar: twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?

The second, obviously.

Which is why McTurtleface is demanding even more for them, and a lot less for everyone else.  On top of giving businesses the ability to basically say 'fark you' to all the families of their workers, should they die due to lack of providing protection for said workers (which is something he is demanding in any bill, the ability to put protections against lawsuits against corporations should they be found negligent).

As far as the Stock Market, we are now seeing that it is completely uncoupled from the economy.  The fact that it keeps going up and up means that they see the possibility of more for them and less for us as being a strong possibility.  And that's it's just a playground for the ultra-wealthy to make even more money by doing nothing.

Need an economist Farker to comment: what is the outcome of the stock market completely decoupling from the economy? Is it good/bad and why?

It sounds bad to me but I don't have a real defined basis as to why.


Don't really need an economist to explain as to why. If anything, it's finally proving that it had nothing to do with predicting if the economy anymore once the wealthy and corporations realized they could suck the Treasury dry.

It may have been coupled to the health and strength of the economy in the near past, but since Trump, it's showing that you can have a Depression going on for the bulk of the nation, and the wealthy don't feel it in the least, and won't.
 
2020-08-24 8:42:10 AM  

RedSectorA: Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe


Well, that was an easy ignore. Thanks!
 
2020-08-24 8:42:14 AM  

Jiggatron69: Hopefully, the double hurricanes in the gulf won't be too severe because I'm not sure I want to see what happens when you add this on top of a natural disaster like that.  This country is in deep crap as the west coast is on fire and no help.  The north is gettin drenched while the south is about to get hit with hurricanes and the entire mail network that people depend on is artificially crippled. Real unemployment is easily rivaling anything the Great Depression has thrown our way but the entire nazi party is out there pledging their undying loyalty to their fuher this week at a convention that will ultimately be a giant money laundering scam for the trumps.   It's all just too much....


It sounds like a disaster movie that people would say is too far-fetched.
 
2020-08-24 8:44:10 AM  

AurizenDarkstar: twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?

The second, obviously.

Which is why McTurtleface is demanding even more for them, and a lot less for everyone else.  On top of giving businesses the ability to basically say 'fark you' to all the families of their workers, should they die due to lack of providing protection for said workers (which is something he is demanding in any bill, the ability to put protections against lawsuits against corporations should they be found negligent).

As far as the Stock Market, we are now seeing that it is completely uncoupled from the economy.  The fact that it keeps going up and up means that they see the possibility of more for them and less for us as being a strong possibility.  And that's it's just a playground for the ultra-wealthy to make even more money by doing nothing.


If we got rid of FANG companies the stock market would be way down too. But google and Amazon thrive in this environment.
 
2020-08-24 8:44:14 AM  

twistedsteel5252: Sophont: twistedsteel5252: As of last week the nasdaq and Dow continued to rise. Is it possible that was fueled by the average American has never been richer than when they we're getting the original deal with $600 a week? Or were the handouts we gave corporations just that exorbitant?

The stock market has nothing to do with the average American.
When it's bad, it's an excuse to lay off people, but it being good doesn't prevent it.
Someone will inevitably chime in that your retirement is tied up in the stock market, and those sweet summer children don't seem to understand why less and less people care about that particular chestnut.

I get that, really. But is it really just it's own faith based institution?

I don't expect the market to be fully tied to reality, but if all Tesla factories and cars got hit by a meteor and there's nothing but a smoldering crater where they stood, I can't accept that the stock could trend anyway but downward. How am I wrong about this? I am generally asking before I take that further swan dive into madness.


I wouldn't say it's not tied to reality.
It's just that absent the ability to actually buy a Tesla, Tesla getting hit by a meteor does not affect the average American, while in upside down crazy la-la-land that is the stock market, where Tesla is valued at higher than Ford, who the fark even knows if money will come flooding in when Elon Musk gets high and vows to turn the meteor into the universe's sickest rocket-bong.
 
2020-08-24 8:44:51 AM  

I'm an Egyptian!: Well, that was an easy ignore. Thanks!


I farkied this charming individual as "yous trollin" with a red hue
 
2020-08-24 8:46:07 AM  

bostonguy: Jiggatron69: Hopefully, the double hurricanes in the gulf won't be too severe because I'm not sure I want to see what happens when you add this on top of a natural disaster like that.  This country is in deep crap as the west coast is on fire and no help.  The north is gettin drenched while the south is about to get hit with hurricanes and the entire mail network that people depend on is artificially crippled. Real unemployment is easily rivaling anything the Great Depression has thrown our way but the entire nazi party is out there pledging their undying loyalty to their fuher this week at a convention that will ultimately be a giant money laundering scam for the trumps.   It's all just too much....

It sounds like a disaster movie that people would say is too far-fetched.


That's why it's called 'disaster capitalism'.  They wait for natural disasters, or create man-made ones and then loot the hell out of a nation while no one is looking.

It's the old 'smash and grab', but on a nationwide scale.
 
2020-08-24 8:51:32 AM  

kumanoki: I'm an Egyptian!: Well, that was an easy ignore. Thanks!

I farkied this charming individual as "yous trollin" with a red hue


There's no point in engaging with it. The strawmen and mindless spewing of talking points is just boring.
 
2020-08-24 8:51:46 AM  

RedSectorA: Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe


Vermont.
 
2020-08-24 8:52:58 AM  
If only there was some way we could have seen this coming and prepared for it. Maybe we could have found a solution that would have allowed business to go back to work sooner and keep all these workers from losing their jobs.

Oh well, guess we'll just have to re-elect Trump and cut taxes to make things better.
 
2020-08-24 8:53:12 AM  

brokenbiscuits: You firmly stand behind the ideal that individual freedom means more than anything, even the safety and well being of the entirety of the country.


Self imprison if you're a scared commie, you won't get the virus in your home, I promise.

But, no, you like a powerful central government to be your nanny provider. What do you do for a living? Really?
 
2020-08-24 8:54:05 AM  
AurizenDarkstar:

That's why it's called 'disaster capitalism'.  They wait for natural disasters, or create man-made ones and then loot the hell out of a nation while no one is looking.

It's the old 'smash and grab', but on a nationwide scale.


The wackier the soundbite from Hair Furor, the moar likely a Mnuchin, DeVos, or Trump crotchfruit is running out the back of the WH with a giant bag of cash. I'm surprised they even bother though. Americans are simply too stupid to notice, and the ones that do, apparently don't care.
 
2020-08-24 8:57:44 AM  
The stock market is soaring because they've pumped $2 trillion in "liquidity" into it by printing U.S. bonds. Companies didn't suddenly invent revolutionary products or gain amazing productivity. Overnight interest rates just dropped to zero (currently targeted for 0.0-0.25 %).

At that rate, the Fed is paying banks to throw money at investors. Your children will pay for this.
 
2020-08-24 9:01:13 AM  

Nick Nostril: Americans are simply too stupid to notice, and the ones that do, apparently don't care.


It's exhaustion.
You'll catch the culprit red-handed. They'll be dressed like Snidely Whiplash and have a dollar sign bag full of cash for a Veterans' charity, artwork from the White House, gold bars from Fort Knox, and intelligence papers from the Pentagon. They'll be caught on video, both before, during, and after the robbery, recorded saying they intend to steal all of this stuff and fark anyone who tries to stop them.
If the cops don't arrest YOU for assaulting a fine upstanding member of society, they're out on bail within minutes because this must all just be a misunderstanding, and have an army of lawyers to argue for years on end that what they did wasn't stealing. In the meantime, they do it again.
The French had it right. Sometimes the only way is to kill them, as quickly and painlessly as possible. One and done. It's the only farking way to get rid of them.
 
2020-08-24 9:02:37 AM  
Where's my goddamn peasant Uprising ?  I want these f****** slaves to break their chains and "kiss" masters already.
 
2020-08-24 9:03:01 AM  

Jiggatron69: Hopefully, the double hurricanes in the gulf won't be too severe because I'm not sure I want to see what happens when you add this on top of a natural disaster like that.  This country is in deep crap as the west coast is on fire and no help.  The north is gettin drenched while the south is about to get hit with hurricanes and the entire mail network that people depend on is artificially crippled. Real unemployment is easily rivaling anything the Great Depression has thrown our way but the entire nazi party is out there pledging their undying loyalty to their fuher this week at a convention that will ultimately be a giant money laundering scam for the trumps.   It's all just too much....


Thankfully, one of the two weakened significantly before approaching the coast.
 
2020-08-24 9:04:43 AM  

bostonguy: Jiggatron69: Hopefully, the double hurricanes in the gulf won't be too severe because I'm not sure I want to see what happens when you add this on top of a natural disaster like that.  This country is in deep crap as the west coast is on fire and no help.  The north is gettin drenched while the south is about to get hit with hurricanes and the entire mail network that people depend on is artificially crippled. Real unemployment is easily rivaling anything the Great Depression has thrown our way but the entire nazi party is out there pledging their undying loyalty to their fuher this week at a convention that will ultimately be a giant money laundering scam for the trumps.   It's all just too much....

It sounds like a disaster movie that people would say is too far-fetched.


Well, there was a scientist who was ignored at the start of this mess, so yes, LARPing a disaster movie.
 
2020-08-24 9:07:37 AM  
media are preventing organisation by not covering the misery so there wont be much of a uprising, remember when the riots for blm started there was 0 coverage until they set fire to the cnn building.
 
2020-08-24 9:08:59 AM  
All over a disease that is simply not that fatal.
 
2020-08-24 9:10:12 AM  
People can't pay rent or mortgage, get evicted, find that they can't vote because their address no longer matches registration.

It's convenient for the party who can't sway people with ideas.
 
2020-08-24 9:12:51 AM  

AurizenDarkstar: bostonguy: Jiggatron69: Hopefully, the double hurricanes in the gulf won't be too severe because I'm not sure I want to see what happens when you add this on top of a natural disaster like that.  This country is in deep crap as the west coast is on fire and no help.  The north is gettin drenched while the south is about to get hit with hurricanes and the entire mail network that people depend on is artificially crippled. Real unemployment is easily rivaling anything the Great Depression has thrown our way but the entire nazi party is out there pledging their undying loyalty to their fuher this week at a convention that will ultimately be a giant money laundering scam for the trumps.   It's all just too much....

It sounds like a disaster movie that people would say is too far-fetched.

That's why it's called 'disaster capitalism'.  They wait for natural disasters, or create man-made ones and then loot the hell out of a nation while no one is looking.

It's the old 'smash and grab', but on a nationwide scale.


They did the same thing during the collapse of the Soviet union, equity firms swooped in and bought public infrastructure and resources on the cheap and hollowed them out
 
2020-08-24 9:18:55 AM  

Hellkite85: Elections have consequences. This is whst happens when you vote GOP.

[Fark user image image 425x283]


Ah, images from the RNC.  Neat.
 
2020-08-24 9:21:20 AM  

RedSectorA: Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe


Can you show me on this wallet where the Democrat touched you?
 
2020-08-24 9:21:50 AM  

I'm an Egyptian!: RedSectorA: Democrats really love to lock down their states to kill those evil capitalist ventures.

Democrats like living in a Police State that will tell their neighbors that they are too wealthy and shut down their business because it's for the greater good.

Show me where Freedom and Liberty is a Democrat value? Anyone? hehe

Well, that was an easy ignore. Thanks!

 
2020-08-24 9:33:40 AM  

Deep Contact: All over a disease that is simply not that fatal.


Then be sure to catch it.
 
2020-08-24 9:33:54 AM  

Deep Contact: All over a disease that is simply not that fatal.


Wat
 
2020-08-24 9:36:35 AM  

Skarekrough: saywhonow: The only solution that could possibly work is MORE TAX CUTS FOR THE JOB CREATORS™

We've given them tax cuts.
We've given them handouts.

So the obvious answer here is that we do both at the same time....


Mitchell and Webb - Kill The Poor
Youtube owI7DOeO_yg
 
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