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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

  1. goalmouth

    goalmouth Well-Known Member

    During the great recession, unemployment was extended to 99 weeks.
     
  2. Neutral Corner

    Neutral Corner Well-Known Member

    The longer McConnell plays this game, the worse it will hurt him with Kentucky voters. Too many unemployed who need help.
     
  3. Michael_ Gee

    Michael_ Gee Well-Known Member

    As long as he was the man who thwarted the black President at every turn, McConnell's voters will re-elect him if they're starving to death.
     
    OscarMadison likes this.
  4. Inky_Wretch

    Inky_Wretch Well-Known Member

  5. qtlaw

    qtlaw Well-Known Member

    Great enjoy him Kentucky; and don’t come asking for CA $$ to bail your sorry a**es when Kentucky is inundated with poverty and the virus.
     
  6. Azrael

    Azrael Well-Known Member

    Inky_Wretch likes this.
  7. The Big Ragu

    The Big Ragu Moderator Staff Member

    [​IMG]

    Dual mandates stimulus 2 percent target plenty of ammo in the toolbox prepared to bring all of our resources

    ...
    Hertz shouldn't have survived the financial crisis, but this is what a central planning authority fixing the price of money does. It pushes anyone with the temerity to want to save (which is how you really create a strong economy -- savings and investment) into absurdly speculative things to try to earn the yield being robbed of them. And we all pay for it when things go badly, the way they now are.

    It's how a company that continually was seeing its earnings degrade, while its expenses were skyrocketing, was able to go from being dumped by Ford on some private equity firms, which used the "prosperity" that Ben Bernake and Janet Yellen were giving us to take the oodles of free money they could access to buy a turd and sell it to the public markets. ... which were distorted by mispriced interest rates and debt markets that couldn't price risk thanks to the nirvana of quantitative easing destroying all price discovery in debt.

    But my 401(k)! Weeeeeeee.

    Once public, there was no way Hertz should have been able to borrow a penny without having to resort to a loanshark, but nah, it was doing debt offerings that were overscribed several times over at fairly low yields, to the tune of almost $21 billion. $21 billion of phoniness, on top of the trillions of dolllars of similar phoniness that Yellen, Bernanke and Powell have patted themselves on the back for creating, while they told everyone they hda created an economic nirvana.

    And what did Hertz (and lots of other companies) do with all of that capital -- that has pulled growth from the future forward for? It misallocated it relative to what that capital would have found in a free market, including billions of dollars of stock buybacks (they borrowed money to way overpay for their own stock -- making the cost of that borrowed money even greater) and dividend payouts.

    It should be criminal, but 95 percent of people in this country seem to have no clue what is really creating the misery that we're experiencing now and that won't be going away quickly because of the amount of deleveraging that is necessary (that they STILL aren't allowing to happen -- they are answering their own debt bubble by trying to prop it up with exponentially more debt, ensuring that the depression they caused is going to be even worse).
     
    Last edited: May 23, 2020 at 6:53 AM
    Inky_Wretch and misterbc like this.
  8. BTExpress

    BTExpress Well-Known Member

    New Jersey seems to be the state that gets screwed the worst (gets back 74 cents for every dollar it sends to Washington), followed by New York (81 cents), Connecticut (82 cents) and Massachusetts (83 cents).

    At 96 cents, California actually almost comes out even.

    AP FACT CHECK: Blue high-tax states fund red low-tax states
     
  9. Michael_ Gee

    Michael_ Gee Well-Known Member

    A LOT of this statistic is driven by DOD spending. California has many military bases and a big section of the aerospace industry. Likewise, the reason Kentucky seems to have such a disparity is because the older, poorer states get a disproportionate share of public welfare spending such as Social Security, Medicare, Medicaid and food stamps. If the feds weren't sending money to Mississippi, it'd have the basic economic conditions of Honduras.
     
  10. Jake from State Farm

    Jake from State Farm Well-Known Member

    Hertz was doing a lot better when this guy was doing its ads

     
  11. Noholesinone

    Noholesinone Member

    The most recent poll at fivethirtyeight.com is a few months old, but it has McConnell and Amy McGrath separated by only three points. I've never made a financial contribution to a political candidate in my life, but the chance to celebrate McConnell's departure from Washington in November might be worth a few bucks.
     
  12. Jerry-atric

    Jerry-atric Active Member

    Suicide is not the answer. Many survive COVID 19. Please call for help if necessary - it does not make you weak.

    Good luck.
     
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