Since jobs are unlikely to return, Do u think there will be a 3rd $1200 stimulus - page 2.

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Quote from: dothebeats on August 06, 2020, 02:04:39 PM

It could happen honestly, due to a lot of things still going pretty haywire on that side of the globe. Add to that their situation which isn't getting any better at all for the last few weeks, and a lot of people are still losing their jobs day by day. The government might send yet another stimulus check, just to offer a temporary solution to the woes of the unemployed and those who are severely hit by the pandemic. Though that might be the case, we still aren't sure what course the Trump administration would take in addressing this problem further. It's not just the citizens who are asking for financial assistance but also other industries that are badly hit by the stoppage of the economy. Things aren't looking pretty neat for the Americans unfortunately, and might not be for the next year or years even.

With this pandemic that continuously hitting the country, this temporary solution may help surviving this economic crisis.

People needs assistance as many are losing their jobs seeking help and aside from that you already mentioned those businesses are also calling
for help, it's a test of leadership and how the Trump administration will bring the nation.

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It could happen honestly, due to a lot of things still going pretty haywire on that side of the globe. Add to that their situation which isn't getting any better at all for the last few weeks, and a lot of people are still losing their jobs day by day. The government might send yet another stimulus check, just to offer a temporary solution to the woes of the unemployed and those who are severely hit by the pandemic. Though that might be the case, we still aren't sure what course the Trump administration would take in addressing this problem further. It's not just the citizens who are asking for financial assistance but also other industries that are badly hit by the stoppage of the economy. Things aren't looking pretty neat for the Americans unfortunately, and might not be for the next year or years even.

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Quote from: Haunebu on August 06, 2020, 12:35:24 PM

I understand why you think that jobs won't return in the USA considering the fact that unemployment rates have risen to an all time high thanks to the Corona and the job situation was already pretty bad pre-COVID, but all of that could change if Biden becomes the President.

If we are going to rank countries on who is the most hit by the virus it will be the America upon looking on their statistics there are millions of them that has the corona virus. Unemployment is rising, and they can't just get to the normal with the number of active cases that they have. And there will be more likely to have a last batch of this stimulus check, they gotta do what they gotta do.

Quote from: Haunebu on August 06, 2020, 12:35:24 PM

Trump is doing a lousy job currently and am not expecting much from him in the future which is why Biden could turn things around.

How do you say so? I'm not pro-trump or whatsoever but I guess they are all trying in this time of pandemic, he still got a family to keep safe.

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Quote from: StonksStonksStonks on August 05, 2020, 12:37:23 PM

how about a 4th $1200 stimulus check. A 5th $1200 stimulus check. A 10th stimulus check. How many times will this do this? infinate stimulus check?

money printer go brrrrrrrrrrrrrrrrrr

It absolutely can happen. The US economy is seriously affected by the increasingly difficult control of the covid epidemic, which will affect people's psychology and they will rarely buy again. As a result, businesses will gradually die and the government must once again support the economy. I am afraid that the economic crisis will come this year and everything will collapse quickly. We should keep cash now to look for opportunities in risk.

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I understand why you think that jobs won't return in the USA considering the fact that unemployment rates have risen to an all time high thanks to the Corona and the job situation was already pretty bad pre-COVID, but all of that could change if Biden becomes the President.

Trump is doing a lousy job currently and am not expecting much from him in the future which is why Biden could turn things around.

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Quote from: StonksStonksStonks on August 05, 2020, 12:37:23 PM

how about a 4th $1200 stimulus check. A 5th $1200 stimulus check. A 10th stimulus check. How many times will this do this? infinate stimulus check?

money printer go brrrrrrrrrrrrrrrrrr

Election is coming up so I believe there will be a stimulus for sure to get more support for the ruling one, but they can't keep giving the stimulus since the new normal is slowly emerging and people should adapt to the condition if they want to survive it.

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Nothing is yet going back to normal, there is just much to risk when a business opens. Its not just US that is suffering fro mthis pandemic though so all of world suffers and families go hungry already. Some of us already rely to fishing and farming.

Quote from: Coyster on August 06, 2020, 11:18:36 AM

Quote from: davis196 on August 06, 2020, 01:55:40 AM

It's obvious that the stimulus checks can't boost the US economy,their function should be more social,rather than economic.

It can boost the economy. Money is one of the factors of production, and also the most important factor in economic growth and development; the corona virus pandemic created a situation were money became scarce for citizens and their businesses also due to lockdown and other restrictions, stimulus bonuses can reactivate the economy by providing funds for individuals, so they will in turn patronize other businesses that fits their taste, business men and women can also channel the funds to growing their businesses again, the checks are given to stimulate citizens, so they'll in turn stimulate the economy; the only downside of this is the possibility of inflation in years to come.

Quote from: davis196 on August 06, 2020, 01:55:40 AM

You realize that money printing will eventually boost the Bitcoin price,right? Grin

The U.S printing money for stimulus packages can't affect the price of bitcoin, only if you look at a scenario where majority of citizens buy bitcoins to evade the inflation of their currency, that is then more demand and a price appreciation to follow.

It happend before already that whenever there is a distribution of stimulus package, BTC spikes. I'm sure its going to affect the price.
They are buying probably from ATM machines as well.

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Quote from: davis196 on August 06, 2020, 01:55:40 AM

It's obvious that the stimulus checks can't boost the US economy,their function should be more social,rather than economic.

It can boost the economy. Money is one of the factors of production, and also the most important factor in economic growth and development; the corona virus pandemic created a situation were money became scarce for citizens and their businesses also due to lockdown and other restrictions, stimulus bonuses can reactivate the economy by providing funds for individuals, so they will in turn patronize other businesses that fits their taste, business men and women can also channel the funds to growing their businesses again, the checks are given to stimulate citizens, so they'll in turn stimulate the economy; the only downside of this is the possibility of inflation in years to come.

Quote from: davis196 on August 06, 2020, 01:55:40 AM

You realize that money printing will eventually boost the Bitcoin price,right? Grin

The U.S printing money for stimulus packages can't affect the price of bitcoin, only if you look at a scenario where majority of citizens buy bitcoins to evade the inflation of their currency, that is then more demand and a price appreciation to follow.

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If policy does not change in terms of how to help ordinary people and the economy then stimulus checks will still be an option that policy will use as a solution to the current situation. Although this way of distributing money is not popular due to its long-term consequences, it is the easiest choice for which one should not be too smart at a given moment.

Quote from: The Sceptical Chymist on August 05, 2020, 01:27:12 PM

People are starting to realize that this strain of coronavirus isn't some second coming of the black plague, and businesses are starting to reopen (at least in the US).

People have already figured this out in Europe, from complete locking to coexisting with the virus under protective masks in all enclosed spaces. In fact, it is a simple choice made by governments, but also by ordinary people - a risk that we must all accept, or the fact that the whole system will collapse and that general chaos will break out.

Quote from: The Sceptical Chymist on August 05, 2020, 01:27:12 PM

But yeah, as far as that money printing press goes, it worries me. Someone is going to have to pay for all of these stimulus checks eventually, and we all know that someone is going to be the taxpayers.

All debts come due sooner or later, the only question is whether it will be in 5 - 15 or maybe 50 years, which would mean shifting the burden to some new generations. I am glad that my state did not give me anything, because I would probably have to give them back ten times more, so it would be a very expensive help.

Wenbing

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Job will return but on a gradual mode or pattern. This is simply what we called business cycles; we have the trough phase and the crest phase or the doom phase and the boom phase, the depression phase and the recovery phase. The global economy is currently depressed. This will take some time for things like employment to return to normal. Productive economic activities need to start, investors will need to invest for more economic activities to take place. Then, will the global economy recover.

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Quote from: StonksStonksStonks on August 05, 2020, 04:04:05 PM

Quote from: The Sceptical Chymist on August 05, 2020, 01:27:12 PM

Regarding the title of this thread, I don't agree with the premise "since jobs are unlikely to return". People are starting to realize that this strain of coronavirus isn't some second coming of the black plague, and businesses are starting to reopen (at least in the US).

Thats not the issue that causes jobs to not return... Its change of behavior. You get used to cooking at home, your diet changes, routine changes tend to have a longer lasting effect on restaurants ect. But even bigger is the work from home change. Many jobs are saying hey this work from home thing worked for a few months, we can do it permanent and save money on office rent. This for sure kills the restaurant next to the office, the gas station on your way to the office, and more. And then lastly, they once a job is remote work, they can outsoruce it to India.

Work from home may have worked for the others but surely not for the majority. Nevertheless, online job is just an alternative to keep up from the falling economy and loss of job. Physical office, physical stores, and other physical businesses are still essential elements for the economic growth. Though your point may have made sense, but I don't think people will try to make a living virtually. Stimulus checks won't solve the economic downturn, so does the work from home. What every nation need is the vaccine that could totally eradicate the highly contagious virus, for us to resume to our normal routine, business, and lives.
There were already a lot of business outsourcing that has been disseminated throughout the Asia before the pandemic, I doubt companies in the USA will outsource their businesses specially during the pandemic when they themselves badly needed a source of income.

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Quote from: StonksStonksStonks on August 05, 2020, 12:37:23 PM

how about a 4th $1200 stimulus check. A 5th $1200 stimulus check. A 10th stimulus check. How many times will this do this? infinate stimulus check?

money printer go brrrrrrrrrrrrrrrrrr

Well first of all , the jobs are likely to return if the Government decides to actually start taking care of the economic situation seriously. Stimulus is not the answer . Again and again it will not only deplete the government money but at the same time it will crash the price of the dollar.

The US already have to take a debt in trillions if they decide to go on with everything that's been happening without actually solving it.

Quote

Government Debt in the United States increased to 26477241 USD Million in June from 25746260 USD Million in May of 2020.

What needs to be done is :
1. Give people jobs
-HOW?
By making the country self sufficient , banning the export for a while to contain the virus then focusing on Industrialization. It will create jobs and at the same time balance out the situation. Even the Government can make long term profits.

-Stimulus is not the long term answer .

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Quote from: The Sceptical Chymist on August 05, 2020, 01:27:12 PM

Quote from: StonksStonksStonks on August 05, 2020, 12:37:23 PM

How many times will this do this?

Not sure, but it looks like there's going to be at least one more.

Regarding the title of this thread, I don't agree with the premise "since jobs are unlikely to return". People are starting to realize that this strain of coronavirus isn't some second coming of the black plague, and businesses are starting to reopen (at least in the US). People who were out of work are starting to return to the workforce, so I don't think the situation is anywhere near as bleak as, say, 2008-2013 when unemployment was astronomical and wasn't due to a temporary shutdown.

But yeah, as far as that money printing press goes, it worries me. Someone is going to have to pay for all of these stimulus checks eventually, and we all know that someone is going to be the taxpayers. If I do get another check from the government, you can be damn sure I'm not going to blow it on frivolous stuff.

Quote from: The Sceptical Chymist on August 05, 2020, 10:10:34 PM

Quote from: StonksStonksStonks on August 05, 2020, 04:04:05 PM

Thats not the issue that causes jobs to not return... Its change of behavior. You get used to cooking at home, your diet changes, routine changes tend to have a longer lasting effect on restaurants ect. But even bigger is the work from home change. Many jobs are saying hey this work from home thing worked for a few months, we can do it permanent and save money on office rent. This for sure kills the restaurant next to the office, the gas station on your way to the office, and more. And then lastly, they once a job is remote work, they can outsoruce it to India.

Yep, those are all good points and I have in fact heard that some workers are continuing to work from home. I'm not sure if that's a good thing or not, either for the worker or the employer. But I guess we'll just have to see how this whole thing transpires. I've seen a lot of restaurants start delivery service, and pharmacies as well. I have doubts as to whether these changes are permanent or not, though I hear what you're saying about changes in behavior and so forth.

As far as outsourcing jobs to India, I don't suspect that's going to happen to a great extent. The US has already outsourced so many services to India and other spots in Asia that whatever remains probably has a reason to stay in the US.

@The Pharmacist you’re correct as jobs have indeed resumed, and Trump has also signalled that US companies should hire more from US only, and avoid hiring people from other countries. Also @StonksStonksStonks while all your points are valid, but I feel that US will witness a spring effect, as people have been locked in their homes for quiet a while now, and once the restrictions are lifted they’ll start to come out in huge numbers, and spend on stuff they don’t even need.

e.g. of an spring effect gamblers who hadn’t gambled for long, came out to gamble as soon as Las Vegas opened:

https://bitcointalksearch.org/topic/las-vegas-casinos-are-open-end-of-the-pandemic-era-5253684

Sources:

https://fortune.com/2020/08/04/trump-h1b-visa-executive-order-federal-contracts/

https://www.uscis.gov/laws-and-policy/other-resources/buy-american-and-hire-american-putting-american-workers-first

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The articles I've read lately mostly say, the US is going to enter recession next month, airlines is doomed till 2024, corona will make a bigger comeback... I believe we are fucked during the next 10 years.

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Quote from: The Sceptical Chymist on August 05, 2020, 10:10:34 PM

Yep, those are all good points and I have in fact heard that some workers are continuing to work from home. I'm not sure if that's a good thing or not, either for the worker or the employer. But I guess we'll just have to see how this whole thing transpires. I've seen a lot of restaurants start delivery service, and pharmacies as well.

This is it, the world is constantly changing (with or without the effect of a pandemic) and businesses have to be dynamic to adapt to such changes otherwise they would begin to lose their relevance.
These changes in customer behavior would surely affect some businesses which are static by nature, such as the gas stations, however if there is enough room for change, they should be made, to satisfy new needs of the consumers who would have extra cash which they saved up from the bus trip they didn't take or the restaurant they didn't visit, and they would need somewhere else to spend that.

New health challenges over the years led to the development of treatment measures to counter it, and also to the growth of the health sector. So, a potentially bad situation could have positive outcomes.

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Quote from: StonksStonksStonks on August 05, 2020, 12:37:23 PM

how about a 4th $1200 stimulus check. A 5th $1200 stimulus check. A 10th stimulus check. How many times will this do this? infinate stimulus check?

money printer go brrrrrrrrrrrrrrrrrr

Stimulus checks should continue coming in for the unemployed and desperate people that have no options and can't survive without help.
It's obvious that the stimulus checks can't boost the US economy,their function should be more social,rather than economic.
Pumping the economy by printing money and giving away "helicopter money" isn't very effective in the current crisis.
I don't quite understand the point of your post.Are you complaining about money printing? Grin

You realize that money printing will eventually boost the Bitcoin price,right? Grin

The Sceptical Chymist

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Quote from: StonksStonksStonks on August 05, 2020, 04:04:05 PM

Thats not the issue that causes jobs to not return... Its change of behavior. You get used to cooking at home, your diet changes, routine changes tend to have a longer lasting effect on restaurants ect. But even bigger is the work from home change. Many jobs are saying hey this work from home thing worked for a few months, we can do it permanent and save money on office rent. This for sure kills the restaurant next to the office, the gas station on your way to the office, and more. And then lastly, they once a job is remote work, they can outsoruce it to India.

Yep, those are all good points and I have in fact heard that some workers are continuing to work from home. I'm not sure if that's a good thing or not, either for the worker or the employer. But I guess we'll just have to see how this whole thing transpires. I've seen a lot of restaurants start delivery service, and pharmacies as well. I have doubts as to whether these changes are permanent or not, though I hear what you're saying about changes in behavior and so forth.

As far as outsourcing jobs to India, I don't suspect that's going to happen to a great extent. The US has already outsourced so many services to India and other spots in Asia that whatever remains probably has a reason to stay in the US.

Quote from: Wexnident on August 05, 2020, 09:55:23 PM

Nope. If they were just to print out money after money, they'd only be making their doom fall faster, and I'm pretty sure even the government realizes that.

I'd agree that they do recognize the danger of printing a near-unlimited amount of money, but I question whether anyone in the government has a plan to pay for all of this stimulus money, which is on top of all the quantitative easing they did a few years ago. As I've said before, someone has to foot the bill and that someone is always going to be the taxpayers. I'm wondering when the bill will finally arrive.

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Nope. If they were just to print out money after money, they'd only be making their doom fall faster, and I'm pretty sure even the government realizes that. I don't know about other countries, but Jobs are slowly coming back, though not the best order of things in our country though since we had to undergo another quarantine. If they were able to successfully take advantage of the quarantine period, they'd be able to open up or loosen up quite a bit imo after all.

Another stimulus could be helpful, but that's the limit probably. Heck, they're probably pushing past the limit with the next follow up if ever. Besides, a few companies are able to work around the difficulties by working online, though the workload is drastically reduced imo, especially for a select few that even with working online, it just isn't enough.

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3rd would be nice but not likely to happen. the govt cant keep on shelling out money. jobs are slowly returning now, and everyone needs to observe the safety protocol so as not to spread the virus so fast. we need to work, else, how can everyone survive this pandemic? once this vaccine is available to the public, hopefully at the end of this year, we will return to normal again. but atm, stay safe and follow health protocols...

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Quote from: The Sceptical Chymist on August 05, 2020, 01:27:12 PM

Regarding the title of this thread, I don't agree with the premise "since jobs are unlikely to return". People are starting to realize that this strain of coronavirus isn't some second coming of the black plague, and businesses are starting to reopen (at least in the US).

Thats not the issue that causes jobs to not return... Its change of behavior. You get used to cooking at home, your diet changes, routine changes tend to have a longer lasting effect on restaurants ect. But even bigger is the work from home change. Many jobs are saying hey this work from home thing worked for a few months, we can do it permanent and save money on office rent. This for sure kills the restaurant next to the office, the gas station on your way to the office, and more. And then lastly, they once a job is remote work, they can outsoruce it to India.

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