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How to bounce back from Lockdown 2020

Discussion in 'Off Topic [BG]' started by Downunderwonder, Mar 23, 2020.


  1. Pretty much the same deal here except tenants are all on the hook for rent. All mortgages have to he paid in full eventually even accruing interest on interest if it goes like it did in Australia with drought 'relief'.

    The main difference is govt is picking up tab for a minimum wage for employees and self employed. The initial coverage was a bit light and they expanded it but that tap can't flow too long.

    The goal is noble, keep workforce notionally employed. The subsidy is paid to employers in trust to pay on through regular payroll systems.

    I object to this system. It loads up taxpayers with debt while holders of capital sail on as if nothing is happening.

    What should happen is suspended workers get paid only a subsistence allowance and their landlords get whatever is reasonable to cover insurance and some mantenance. The mortgage holders get to wait for the tenants to go back to work and everyone survives.

    If mortgage holders and landlords have to put their hand out for the subsistence allowance there is no harm in that and everyone gets to subsist.

    Commercial tenants locked down should be getting the same consideration. Same with their finance.

    Who is that bad for? Only the banks and their shareholders. The big banks are coining it off touchless card transactions.

    Shareholders are losing out on dividends big time also. Subsistence allowance for them too.

    The holders of the capital are the few. They can easily be fed from the taxes of the many. That's me and mine in those capital holders and landlords by the way.
     
    roswell1965, 31HZ and fdeck like this.
  2. fdeck

    fdeck Supporting Member Commercial User

    Mar 20, 2004
    Madison WI
    HPF Technology LLC
    Indeed, the government shouldn't be in the business of insuring investors. In the US, bank deposits up to a certain amount are required to be insured, but investments shouldn't be. If an investment isn't at risk, then it's not an investment. They can sell their investments and live on the cash for a long time. Insuring investors just gives them an incentive to take bizarre risks that destabilize the economy for working people.
     
  3. I don't know about that and I don't really care. Historically one never loses on property in the long term. If the backers of others' property investments ie mortgage holders can still eat and keep a roof over their heads then everyone is equally set to bounce back from lockdown.

    I fully expect lockdown to be ongoing in most of the western world. The situation of capital still making returns can only last a matter of weeks. Reach a tipping point and the whole house of cards will collapse.
     
  4. Paulabass

    Paulabass

    Sep 18, 2017
    The economy of many, many countries will not survive. The leader of one prominent player will make sure the rich survive by sacrificing the other classes.
     
    friskinator likes this.
  5. I think the economy will bounce back relatively quicker than it did in the Great Recession of 2008 plus. The big difference is most will want to get things back to normal life asap and many will put in in the extra efforts to do so.
     
  6. Lots easier to participate in that if all your savings and a chunk of your future taxes for the next twenty years aren't going to the present holders of capital in coming months.
     
  7. ajkula66

    ajkula66

    Sep 23, 2016
    NEPA
    FIFY
     
    Johnny Crab likes this.
  8. guy n. cognito

    guy n. cognito Secret Agent Member

    Dec 28, 2005
    Nashville, TN
    “They”? You speak of the entire industry as one homogeneous unit. Some “bounced back”, some didn’t. Some only “bounced back” after a decade or more.

    Musicians will “bounce back”. Restaurants will “bounce back”. Small retail will “bounce back”. Shall we look back 10 years from now on those businesses and claim they “did fine”?
     
    fdeck likes this.
  9. There are change org petitions for everywhere all asking for the same thing. Most are written by simpletons.

    If space aliens were visiting over the eons they would have noticed things.

    Start at monkeys with opposable thumbs using tools, getting social and vocalizing.

    They come back in 30,000 or 100,000 years and the monkeys are running around on the ground.

    Fire.

    Wheels.

    Money.

    Steam.

    Nukes.

    Those are what I think are the really significant leaps in evolution and technology. Technology is way out running evolution.

    Unfortunately 99.9999% of humans( made up statistic) know less about money than we do about nukes or even steam power.

    Money and now capital exist purely in trust that they they will still be there when we come back from (figuratively or metaphorically) hunting.

    Under my proposals the holders of the (imaginary) capital, making loans of trust to workers and enterprise that are presently unserviceable, get to come back to 100% of their capital once the crisis is over.
     
  10. TOOL460002

    TOOL460002

    Nov 4, 2004
    Santa Cruz
    Like many, I am supporting the restaurants/some stores I hope can stay afloat, but there is no way to predict the next 6+ months. I fear the economy will touch far more people than the current pandemic has/will. We know what a housing crisis looks like, and that will be but one component of what is to come.

    All guesses or personal opinions, and I seriously hope I am VERY wrong. Positive thoughts go out towards anyone that was already in a tentative situation and don't currently see a way back.
     
  11. Primary

    Primary TB Assistant

    Here are some related products that TB members are talking about. Clicking on a product will take you to TB’s partner, Primary, where you can find links to TB discussions about these products.

     
    May 13, 2021

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