Topic: Another stimulus bill in line for the US (Read 339 times)

This is really the sad part about getting power from a republican. Senate is republican as well and I doubt Georgia will suddenly flip to both democrats that easily neither, so senate will definitely stay republican for a while. Which means Biden will take over a nation that is brink of a collapse from Trump, remember 2008 when Obama took power in 2009 and basically took over a nation with a crashing economy? Had to bail out 800+ billion dollars worth of banks bail outs? I mean whenever a republican takes over the country, it transitions the nation to a democrat to save it whenever they need to.

Sometimes I hope Trump stayed in power, we would have seen the real trouble and people could have ran away from republicans at that point. Biden now has to find out how to save the nation without hurting the economy but helping people at the same time both financially and medically.

I honestly think that it is scary. Not only for US, but for many countries out there who use USD as their secondary fiat option.
There is a chance it won't affect economy as much as we expect, but a lot of lucky events should happen for that to become truth.

A bipartisan stimulus bill has emerged. At $908 billion it's a compromise between the $500 billion Republicans want and the $2 trillion Democrats want. Notably, a direct stimulus payment is not included: https://www.cnbc.com/2020/12/01/coronavirus-stimulus-update-senators-to-unveil-relief-bill.html

To boot, McConnell is already shooting down the bill so I'm honestly not sure how good the prospects are for stimulus payments at this point. Everyone seems pretty committed to permanently bailing out the unemployed though.

This triggered my interest but although the raw numbers do confirm the huge amount of money, percentage-wise, the difference is not that much.
Of course, my info comes from the internet but I say those guys must be accurate since they are the restaurant association:
https://www.restaurant.org/research/state

So, Florida, New York, and North Dakota...and Alaska ...for fun!!

Alaska
$1.8 billion Estimated sales  (4% of GDP) / = 10% of  employment in the state   
Florida
$50.1 billion Estimated sales (5% of GDP)/ = 12% of employment in the state
New York
$51.6 billion Estimated sales (3.5% of GDP) / 9% of employment in the state
North Dakota
$1.4 billion Estimated sales  (2.8% of GDP) / 9% of employment in the state

I'm genuinely surprised by these, so surprised I've double-checked but those are the numbers!!!!! Percentage-wise there is no huge difference between Alaska and New York ...This is unbelievable!

But the numbers are indeed huge when it comes to people employed, 14 million, those are just restaurants, not the entire accommodation industry.
A nation-level lockdown of everything for 6 weeks would be catastrophic.


No problems? I doubt it!
Seeing how you're not there to know the stuff from your own experience, where did you get that info?

Hopefully. It doesn't look like it is going to happen any time soon and it may not even happen in the future neither. Think about it , Biden could be president and until he is the president Trump and Mitch will not give any money to anyone, they are upset that they lost so they are going to do everything in their power to not do anything that would help the public at all.

After Biden becomes president, if Georgia run-off is not won by democrats that means the senate will be still republican which means Mitch will continue to bury all the propositions under the mountain of papers and we may still not see any stimulus at all. Only if republicans wants to, it could happen and I think they will definitely allow it, but the fact that they may not is scary enough for me.

Well a lot of states in the USA have large restaurant based economy.

In no Particular order.

Florida
New York
New Jersey   have billion dollar restaurant economies.

Texas
California
Illinois have huge restaurant economies.

I picked some states led by dems
I picked some states led by republiacans.

I would say the States I listed have more than 10 million workers in the food industry.

I would bet 3 million are out of work.
They lose unemployment on Dec 26th
So the bill needs to extend them.

Since finding working wont be easy until the summer.

That is just six of 50 states. They do hold around 1/3 of the country people in those six states.

I am sure a guy living in North Dakota thinks  why should they get unemployment extended they can find work.

Well maybe they cant get a job and they certainly did not creat the virus.

A bigger issue is I am talking about 3 million that need help.

But there are 14 million nationwide on unemployment last I looked.  How do we sort the lazy no good pieces of crap that are saying score from decent hard working desperately seeking work people.

Answer we dont we just print more money.  Not going to change I think 24/25 last years government

spending is in the hole 🕳 so this year will simply be a bigger hole. 

This may help someone, but in general, those who want to work will find a job, in the USA there are no problems with this. Therefore, many unemployed people do not want to work, thanks to these bills. Here we need a more competent study and change of laws on the support of citizens of the country with money, otherwise it will not lead to anything good.

But that's just something that came out of the analyses that found that at the time of the first stimulus check, a certain percentage of crypto users made a deposit in the same amount of stimulus check ($1200). This is certainly not the reason the price has gone up, but those who have done so have done really well - and will probably do the same if they get more helicopter money - but who would blame them, the money can be spent on anything.

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Unfortunately this was not the case - in my case state or as we called it social ownership passed into private hands in a process called privatization - and it was the biggest robbery in the history of my people. Of course, the smokescreen was a brutal war that lasted 4 years, and while the honest defended the country - criminals systematically plundered that same country, and the consequences are still being felt today.



I have come to terms with the fact that things will not be positive in my country for the rest of my life, so I hope that BTC will help me one day not to be an average retiree who barely survives on a 250 or 300 EUR pension. Of course if there is a pension at all, because as things stand today, people go from work to the cemetery.

No, the debt will never be paid, at least if we consider never as our lifetime.
They will roll on this debt till the world's ending as although it sounds ridiculous, this game can go on and on forever. The US debt is not like our debts, we can't print money and we can't move it from one balance to another and say we're ok since both are our pockets and they cancel each other.

Everyone that comes with promises to fix it realizes that it will take way too long to do so and at the same time that it will not blow up during the period he is in charge so he just throws the towel and continues as his predecessors, Trump came with the same promises, how it ended we all know it. Biden doesn't even care, his whole plan is more spending.

The state will issue more bonds the federal reserve will buy the debt and so on and on until the debt will simply be unplayable or unserviceable at which point probably they will push the reset button and ...there is no more debt. I think it happened with companies in your country also during the 1990-2000 period when entire debts were erased as the state owned companies were indebted to the state itself. That's the way we're heading here also but of course with more brutal consequences as the actors are a bit different.


It's already going downhill, there is no way this trend can be reversed in at least a decade, but luckily for us (of for me at least as I don't have a  clue what's your age) it will probably crash after the moment I don't care anymore.  

How many people still think that stimulus checks are the reason bitcoin goes up. Ever since the last stimulus check bitcoin increased 80% after that, how could it be STILL affecting the prices? It is nearly impossible, not nearly, it IS impossible.

However there could be some positives, something such as we are being stuck at the resistance level and fail to go higher because resistance is strong but when people get their checks that could mean between all the buyers we already have and also the new check holders who can use it for bitcoin combined could break it over. That is not a bad help, that is a great help but the timing needs to be perfect, we need to have all the buyers take it to resistance level and right at that moment people to get their checks to go over.

If the new leadership of the country does not change the policy regarding the turnover of finance and new rules for stimulating the economy, then the United States will face even bigger problems than it is today. It seems that someone specifically took the side of China and creates all the conditions for the United States to lose in this confrontation.

I also thought that someone would sooner or later have to pay for all that free money, but here it is being thrown in by the trillions like old paper that will be recycled and put back into use again. I'm not really a financial expert, but with the huge debt that the US has, and with this kind of monetary policy, I'm really interested in when (and whether) things will go downhill at one point without the possibility of stopping?

I know you're kidding with aliens, but it seems to me that someone is seriously counting on them to fix things

This printing of money from thin air seems to be the new normal, we can debate the good, the bad and the ugly side of it but people actually need this money, looking at the unemployment rate and the number of small businesses that have closed because of this Covid lock down, Government need to do something about it.

This stimulus deal of the American government isn't bad at all, IMO the bad or the worse will be how and who will benefits from these bills.  

I came from a different company and we also had this stimulus on our own. However, ain't one of the lucky people who qualified in the program yet I also almost lose my job because of this pandemic and sadly the beneficiaries are of those who have no work prior to the pandemic and most of them are the culprits and lawbreaker that is at large but I don't take it against the program for it still helps a lot of our citizens who need it badly during the pandemic.  And on my end without the stimulus program, I am still surviving in the middle of this recession.

Going back to the topic, let's just hope that the stimulus deal of the US government will be implemented with the right regulations and will not just go to waste.

$ 500 billion might sound like a lot but it's not if we divide it by one-third of the population it would be roughly 4000$ if it's supposed to last 6 months you're down to 600$ which won't buy you much, that's below the minimum wage around here and we have nothing close to the price in the US. And what's more is that the package is not all aimed at being distributed as checks, a lot of it will go to business to keep them afloat making the pie for the below-average Joe even smaller.


I don't think anyone will pay this, even though tax or inflation, once the government will enter this spiral of printing money and more money with declining revenue there is only one ending to it, everything being worthless, a complete failure where even the debt itself will be worthless. If they indeed succeed in throwing around another 2.5 trillion, on top of what their campaign promises mentioned, If I remember correctly the new program would come with another 5.4 trillion, so ...who the hell would be able to pay that? Not even the children of the aliens that will inhabit this planet in 3022 will be able to do it.

Well, they can conduct a session for that matter. It can't be decided on that easily like stating how much or the package they wanted to get for a better and quick response to benefit the US american jobless. Well, their intention is good but we can't also deny the fact that the US economy though it is one of the richest country in the world will going to face economy recession. If leaders could make a mistake in the decision making of this then it could be the reason that their economy will gets worst instead and that other country surpasses with their economy like the Chinese government.

You also have to look at it from the retail business side, because these companies are creating the jobs and they pay their people salaries and this money is stimulating the economy. So it is a bailout to the companies to survive and to enable them to retain their employees. (If you cannot create additional employment, you should try to retain the employment that are currently there)

The unfortunate consequence of that is the tax burden that are increasing to the Middle and Higher income groups. These are the people who are funding these bailouts and when the government drain them too much, they also do not survive and they also cannot retain their jobs and their businesses. 

This thing can quickly spiral out of control.... so they should consider possible alternatives to just handing out money. 

 In fact, most of the money the government spends is to aid financial markets instead of saving poor people. Because they believe that, if they provide money to those who hold power, they will help the entire population get a job and will not fall into starvation.
And that's right, banks are also working very hard to save people who are starving and don't have jobs. They have arranged and arranged a lot of new jobs for people and up to now the amount of 2000 billion dollars in the past is also seen as a positive effect.

People who won't receive it will say that it's unfair if only those needy will receive it. It's a free money and everyone would love to have it. There will be possible batch of protests if that happens. And that's why the senate has included almost everyone.

People who don't actually need it yet they are eligible to receive, they have all the rights to refuse or accept and just give it to someone else. But I don't think that there will be a lot of them that are willing to do that. And for the result of this stimulus once again to crypto, it's a possible pump that's about to happen.

Putting the money in stocks does not necessarily means that the economy is doing good. Economy might be suffering but the market is prospering. The solution that I can see is that they should limit or completely stop helping the big companies get back on their feet, they spent most of the profit for stock buybacks and now they ask for the taxpayers help in this time.

The forgivable payroll loans and extra unemployment benefits were way more expensive than the direct stimulus checks. Whether to rain so much unemployment money on laid off or furloughed workers is one of the things I agree with Republicans on. It's creating incentives not to work, and it gives so much money to people beyond their actual needs.

It's all inevitable though. Completely unprecedented stimulus just occurred under a Republican presidency and Senate majority, if you can believe it. No way it's stopping under Biden.

Deutsche Bank analysts are betting on a ~$750 billion package in early 2021, somewhere in between the $500 billion McConnell is pushing and the $2 trillion the Democrats want. That seems like a reasonable expectation.

No, it is not OK.  The United States taxpayers are going to be paying for all of this stimulus eventually--or somebody's going to be paying for it, though I can't imagine it won't be the citizens themselves.  I look at these relief checks as loans, not free money.

Because life isn't fair, and the US government is even more unfair than life in general.  But there have been homeless people around for a lot longer than the COVID-19 epidemic, so it isn't like they're ineligible for any assistance.  I think the government wants to support those folks who've been put out of a job because of the pandemic, and there are a hell of a lot of them out there.

Anyway, we'll see what the fate of this bill is going to be.  Nobody has received any relief money as of yet, and any number of things can go wrong while we're waiting for the government to decide what it's going to do.

Money is pumped in the economy constantly. But those people that get it are buying stocks. Stimulus checks are spent for goods and not fro stocks. So this is right way to pump money in the economy. Even better would be to build needed infrastructure.  

$ 500 billion is a lot, but you can't spend too much on the homeless or unemployed. Because that only makes the economy weaker when the aid banks are less costly.
Don't worry, that $ 500 billion will also go to food supply and jobs for people in need, but it will be a rather limited budget.
The reason the policy does not target many extreme people is because it is the government. They have to choose a plan that works for the long term and saves the most people instead of focusing on a few. And I fully support it, sacrificing small things for success is a very good philosophy in the political world.

Pumping money into the economy has its disadvantages as it could lead to inflation, but as the pandemic has grinded retail businesses to a halt, it becomes necessary to boost spending so as to revive the economy. The other option would be to react quickly and prevent the spread of the virus, but the US has already failed on this front. A vaccine is the best resort now.

I haven't looked at the details yet, but I doubt the entire amount would be handed over to citizens, there would likely be a budget for MSMEs as well as large cooperations, inorder to keep them running or bail them out.

Something like this was actually attempted in my country, the government proposed sending aid to individuals whose accounts held below a certain amount, but it didn't work out. A pandemic affects majority of people in different ways, and if one has lost to any degree due to the lockdown, I think they should be entitled to relieve packages.

This is a very valid argument. They are part of the country and could aid or curb the spread of the virus, so they should be included in government plans as well. Not sure of any administration currently doing this.

Apparently the US economy as we all know is falling the president yet again is advised to pass a quick stimulus deal with the senate.

Apparently the president and their team are going to negotiate this 500$ billion to make sure that the public get as much money as they can afford.

Okay , this seems very good , but is spoon feeding the public for this long okay ??

If their budget is "x" let us assume, why don't they distribute "x/2" and use this "x/2" to start new job opportunities for them , they can even help the people to come in terms with the pandemic.

Most of these are going to the people who doesn't even need them, what about that

Shouldn't only the jobless and the people actually in need be benefited by the bill Plus why are aren't they also including the homeless without any house and documents ..maybe make a small centre for them to survive till the pandemic.

People let's share your honest opinion about the bills and what they should be used for?? Is this entirely right ??

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