CoronaFarce-rus

[kscarbel2]

I would like to see a 180 day deferral (6 months), and we very well might before all is said and done.

[Mack Technician]

2 hours ago, Maxidyne said:

I take the politician's pontifications with a heap o' salt, but I pay attention to the scientists. They tell us that this is a flu on steroids with at least ten times the normal lethality. We have no vaccines for it and it's spreading at a logarithmic rate. And if you don't want those unprepared young folks taking over our world, remember that we old folks are the most likely to die, especially if we're smokers. So if you don't want these young people digging through your shop, throwing all your treasures, and burying you alone to maintain social distancing, take precautions and maintain social distancing now!   

Politicians aren’t lateral thinkers. Tell Governor Walz He needs to lengthen the walleye season to first weekend of March (like Wisconsin) or even better, no season end like North Dakota, waive shack fees, move removal to April 1st if it’s ballast equipped and increase daily possession. Step one in promoting “social distancing”, get people outside instead of adding to the list of “can’t do’s”. 

Mention, also need a town legally christened “Lake Wobegone” before Garrison dies. 

[41chevy]

George Carlin on Germs and Immune systems.   ** SNOWFLAKE WARNING ON LANGUAGE **

 

 

 

[HeavyGunner]

5 hours ago, kscarbel2 said:

Croatia is ahead of the game! All countries should do this.

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Reuters  /  March 17, 2020

Croatia’s government proposed on Tuesday to postpone tax payments for at least three months and make loans available to struggling business in response to the fallout from the coronavirus pandemic.

“The goal of our economic measures is to save jobs and secure sufficient liquidity,” Prime Minister Andrej Plenkovic told a cabinet session. Parliament is expected to approve the measures this week.

The postponement of tax payments on profit and income, as well as other salary contributions, will be extended for an additional three months if needed.

Finance Minister Zdravko Maric said at the end of the six-month period, taxpayers would be able to pay overdue taxes in up to 24 monthly installments without any interest.

Did you see that they dropped the mortgage rates to near zero? Not saying it’s the answer but it can’t hurt to ease some families that are missing work due to these shut downs. 

[kscarbel2]

5 hours ago, HeavyGunner said:

Did you see that they dropped the mortgage rates to near zero? Not saying it’s the answer but it can’t hurt to ease some families that are missing work due to these shut downs. 

If you mean the Federal Reserve dropping interest rates to zero on Sunday, that scares the heck out of me because now the Fed is out of ammunition should things get worse down the road.

[Rob]

20 minutes ago, kscarbel2 said:

If you mean the Federal Reserve dropping interest rates to zero on Sunday, that scares the heck out of me because now the Fed is out of ammunition should things get worse down the road.

My thoughts exactly.

[mrsmackpaul]

2 hours ago, kscarbel2 said:

If you mean the Federal Reserve dropping interest rates to zero on Sunday, that scares the heck out of me because now the Fed is out of ammunition should things get worse down the road.

Scares the heck out of me as well

The clowns running Australia have changed the laws for not only bank bail puts but also for bank bail ins 

The banks can sieze any and  all assets that they have a interest in and borrow against your own equity in your own house or car or what ever

They can sieze your deposits 

They can do all of this to keep them selves afloat with out even telling us

And what about 8f the interest rates fall bellow zero we will be paying them to store our own money

Its a flipping mess and is gunna make the crappy times of GFC or 80's look like childs play if this goes pare shaped

Paul 

[kscarbel2]

Bloomberg  /  March 17, 2020

The Trump administration is discussing a plan that could amount to as much as $1.2 trillion in spending -- including direct payments of $1,000 or more to Americans within two weeks -- to blunt some of the economic impact of the widening coronavirus outbreak.

Treasury Secretary Steven Mnuchin pitched $250 billion in checks to be sent at the end of April with a second set of checks totaling $500 billion four weeks later if there’s still a national emergency.

“Americans need cash now, and the president wants to give cash now. And I mean now, in the next two weeks,” Mnuchin said Tuesday at a White House briefing alongside President Donald Trump.

“It is a big number,” Mnuchin said. “This is a very big situation in this economy, we put a proposal on the table that would inject $1 trillion into the economy.”

The administration had been discussing a total aid package of $850 billion, but discussions later included spending as much as $1.2 trillion.

The cash payments would be part of a stimulus plan Mnuchin is negotiating with Congress. The administration hasn’t decided on how much to send Americans, but wants the checks to exceed $1,000.

Mnuchin’s proposal included $300 billion for small business loans, $200 billion in stabilization funds, $250 billion in cash payments and a possible second round of checks. Including tax deferrals, that would bring the cost of the plan to around $1.2 trillion.

Mnuchin said the administration will aim not to send checks to millionaires but stressed the need for urgency. The checks will be subject to some kind of income test.

Mnuchin also said the government intends to keep stock markets open.

Plunging stock prices and the abrupt drop-off of consumer spending during a time of social distancing has crystallized the need for Congress to act quickly and boldly. The Federal Reserve has already used much of its toolbox to shore up the economy, leaving policymakers to dull the extent of the damage with fiscal stimulus.

News of stepped-up government efforts to offset the financial damage caused by the outbreak prompted a rebound in U.S. stocks. The S&P 500 jumped as much as 7% before paring back to 4%, continuing a streak of volatility last seen during the Great Depression. The Dow Jones Industrial Average notched a 2% gain.

The Senate on Tuesday was poised to take up a House-passed economic relief measure. That package, negotiated by Mnuchin and Pelosi last week and endorsed by the president, pays for virus testing, bolsters unemployment and food assistance and will send tens of billions in fresh aid to states.

Its centerpiece gives workers at companies with fewer than 500 employees up to 12 weeks of paid family and sick leave to deal with issues involving the coronavirus, including staying home to care for children home from school. The tax credits for paid family, sick and medical leave in the virus bill would cost nearly $104.9 billion.

The idea of issuing checks to Americans has been endorsed by lawmakers across the ideological spectrum. But it may not be practical to get money to Americans as fast as Trump desires. When Congress sent stimulus checks in 2009 to combat the financial crisis it took more than two months from the signing of the bill to checks hitting the mail.

It’s quickest and simplest for Congress to send the same amount to every individual person, but still will take months to happen. If lawmakers decide to give more money to lower-income workers, it becomes even more complicated.

In a further move to relieve financial stress on average Americans, Mnuchin said that individual taxpayers can get a deadline extension on paying taxes of up to $1 million and corporations can defer tax payments of up to $10 million. The deferments can total as much as $300 billion, Mnuchin said, up from $200 billion he proposed last week.

The 90-day delay gives taxpayers additional time to pay their outstanding tax liabilities without interest or penalties. The White House is encouraging taxpayers to still file by April 15 if they don’t owe the IRS any money.

[kscarbel2]

Surely they're joking...................?????

Reuters  /  March 17, 2020

The Native American [Indian] gaming industry on Tuesday requested $18 billion in U.S. federal aid as it shut casinos that are [allegedly] the sole source of commercial revenue for dozens of tribes in a bid to slow the coronavirus epidemic.

[kscarbel2]

Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%.

Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario.

Mnuchin also said he is concerned the economic ramifications of the coronavirus pandemic could be worse than the 2008 financial crisis

[Mack Technician]

Rant time....

If the Dems could drown Trump in blood to get him out of office they’d drain their Mother dead to get enough. Trumps screwed.  He will have the leftist media screaming “American blood on his hands” (which Dems are praying for) if he doesn’t play along and he’s just now undone all the good he did for our markets. 

During his first winter in office 61,000 died from the flu and not a damn thing was said about it. Now look at this ridiculous 💩. 

My 401K dropped off 25.7% for absolutely no reason but a high publicity Flu-farce. Just healed up from the Tariff war with China and “Bam”, tanked again! 

Trivial Coronafarce-rus prediction......   Ruth Bader Ginsburg will get Corona and survive it like the last 10, otherwise fatal, illnesses. She’ll miss 6 months of SCOTUS deliberations and come back with clearly visible vampire 🧛‍♀️ fangs, hissing and clawing at reporters, unable to keep them hidden from the public because of a receding upper lip. Feminists will celebrate knowing she'll be capable of serving on the court for 100's of years.

Edited March 18, 2020 by Mack Technician

[Mack Technician]

Make a mental note of where we're at before the subsidies start to flow out the door..... gotta love and hate this thing in realtime.

If you want to have fun go to the box on the right on the header label "Debt clock time machine". Even under Donald the acceleration is apparent. It'll give you a 2016 window to click, Obama's turnover at 19.4 trill. New home cost to income ratio is another good one, in 2000 its $30,000 to $162K and (20 years later) now its $34,000 income and $313K for a new home.

https://www.usdebtclock.org/

They push the US unfunded liability ticker as far to the bottom right as possible.

 

Edited March 18, 2020 by Mack Technician

[kscarbel2]

U.S. Virus Plan Anticipates 18-Month Pandemic and Widespread Shortages

The New York Times  /  March 17, 2020

WASHINGTON — A federal government plan to combat the coronavirus warned policymakers last week that a pandemic “will last 18 months or longer” and could include “multiple waves,” resulting in widespread shortages that would strain consumers and the nation’s health care system.

The 100-page plan, dated Friday, the same day President Trump declared a national emergency, laid out a grim prognosis for the spread of the virus and outlined a response that would activate agencies across the government and potentially employ special presidential powers to mobilize the private sector.

Among the “additional key federal decisions” listed among the options for Mr. Trump was invoking the Defense Production Act (DPA) of 1950, a Korean War-era law that authorizes a president to take extraordinary action to force American industry to ramp up production of critical equipment and supplies such as ventilators, respirators and protective gear for health care workers.

“Shortages of products may occur, impacting health care, emergency services, and other elements of critical infrastructure,” the plan warned. “This includes potentially critical shortages of diagnostics, medical supplies (including PPE and pharmaceuticals), and staffing in some locations.” P.P.E. refers to personal protective equipment.

The plan continued: “State and local governments, as well as critical infrastructure and communications channels, will be stressed and potentially less reliable. These stresses may also increase the challenges of getting updated messages and coordinating guidance to these jurisdictions directly.”

The plan was marked “For Official Use Only // Not For Public Distribution or Release.”

Much of the plan is bureaucratic in nature, describing coordination among agencies and actions that in some cases have already been taken, like urging schools to close and large events to be canceled. But its discussion of the Defense Production Act came as lawmakers and others urged Mr. Trump to invoke its powers.

President Trump said on Tuesday that he was not ready to invoke the Defense Production Act. “We’re able to do that if we have to. Right now, we haven’t had to, but it’s certainly ready. If I want it, we can do it very quickly. We’ve studied it very closely over two weeks ago, actually. We’ll make that decision pretty quickly if we need it. We hope we don’t need it. It’s a big step.”

Passed in 1950 shortly after American troops went to war defending South Korea against an invasion from North Korea, the Defense Production Act was based on powers used during World War II and authorized the president to require businesses to prioritize and accept contracts necessary for national defense.

Over the years, its scope has been expanded to include domestic preparedness and national emergencies. A president can make direct loans or loan guarantees and purchase commitments, subsidies or other incentives to influence industry to help in times of crisis.

Other key decisions outlined as options for the president include distributing medical supplies and equipment from the Strategic National Stockpile, providing money to states to help them meet demands caused by the coronavirus outbreak and prioritizing the distribution of essential resources to focus on areas most in need.

“The spread and severity of Covid-19 will be difficult to forecast and characterize,” the government plan said. It warned of “significant shortages for government, private sector, and individual U.S. consumers.”

[kscarbel2]

Congresswoman Katie Porter can be my lawyer anytime. The people responsible for health in the US appear clueless. I suspect they know far more then they're sharing with the public, and it's not good news.

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[HeavyGunner]

She’s a tough cookie!  Dr Redfield seemed irritated and looked bad by trying to give a politicians answer like he wanted to but she held his feet to the fire until she got a yes or no publicly from him. Good for her. 

[Mack Technician]

Both of our Harley Davidson plants went dark today and word is Louisiana Pacific's going to follow suit shortly. 

 

[kscarbel2]

US drugmaker doubled price on potential coronavirus treatment

Financial Times  /  March 19, 2020

The only US drugmaker that makes a potential treatment for the coronavirus that was touted by President Donald Trump raised the price by almost 100 percent in January, as the virus caused havoc across China.

Rising Pharmaceuticals, a New Jersey based company, increased the price of chloroquine — an antimalarial, which is one of the drugs that is being tested against Covid-19 — on January 23. The drug price rose 97.86 per cent to $7.66 per 250mg pill and $19.88 per 500mg pill. 

But Rising alleges the price rise was “coincidental” and it restored the old price once it realized that the drug might be in demand because of the outbreak. The reversal of the price lift has not yet shown through in the data. 

One executive claims the company had originally increased the price because it wanted to be able to invest in new manufacturing facilities to keep the drug on the market. 

“As soon as we saw the increase in demand and the potential that this was going to be utilized in the way some folks are projecting it to be, we rescinded that price increase to the same price it has been on the market for since 2015,” he said. 

Studies have shown encouraging results, including one in France released on Wednesday that chloroquine had accelerated recoveries and reduced how long patients were contagious. 

Michael Rea, chief executive of RxSavings Solutions, which provides software for employers to lower their drug bills, said: “Hiking drug prices at such a pivotal time in world history will not play well in the market for any companies partaking in that activity long term.” 

In December 2019, Rising Pharmaceuticals admitted price fixing in a case in Pennsylvania and agreed to pay $3m in fines and restitution. 

The executive speaking on behalf of the company said it is not promoting the drug as a treatment for coronavirus. But Rising received five times as many orders as usual in the last week and it is ramping up production in India to meet demand, purchasing “extraordinary amounts” of more active ingredients, bottles and labels. 

[Mack Technician]

Received a letter from our CEO today. US government has insured all 15,500 employees will be exempted from collective shutdown (currently) do to our product being an essential and are “encouraged to operate and supply quality products for our customers and our country”. Heck yeah! Feeling the love and staying right in the game!

Edited March 20, 2020 by Mack Technician

[kscarbel2]

President Trump said on Thursday that spring breakers enjoying the sand and surf on Florida's beaches, in defiance his closures and warnings to avoid crowds, "don't realize that they could be carrying lots of bad things home to their grandmother and grandfather and even their parents".

.

[Hayseed]

They've been closing our beaches Down..

https://www.theguardian.com/australia-news/2020/mar/21/bondi-beach-closed-down-after-crowds-defy-ban-on-gatherings-of-more-than-500-people

 

[kscarbel2]

What irritated me deeply during yesterday's noon White House press briefing were several reporters who were basically being troublemakers (pricks if you like), which distracted from a good discussion on the latest developments.

We have a serious situation before us, and Trump is handling it in a serious matter. These reporters were rude to the President, and likewise disrespectful to the American people.

If these time-wasting reporters would rather be distractions so as to get 2 minutes of spotlight, rather than be part of the solution, they should be banned from the White House.

I agree with President Trump that these individuals are "terrible reporters". They need to get with the program.

[Rob]

1 hour ago, kscarbel2 said:

President Trump said on Thursday that spring breakers enjoying the sand and surf on Florida's beaches, in defiance his closures and warnings to avoid crowds, "don't realize that they could be carrying lots of bad things home to their grandmother and grandfather and even their parents".

.

Fast tracking future graduates of "Stupid 101".

Edited March 21, 2020 by Rob

[Rob]

I think the president is attempting to address the seriousness of the issue and not condone, or incite public panic.

[kscarbel2]

When things sour, everyone has their hand out.

U.S. airlines called on Friday for a government stimulus package. They want the US taxpayer to cover their payroll for around 750,000 jobs. 

In return for ownership, in return for shares so the country can profit when their stocks return to normal levels, I might agree.

United Airlines CEO Oscar Munoz and President Scott Kirby both said that they will suspend their salaries, b ut NOT for the year.......only thru the end of June. Munoz has a $10 million annual salary, and Kirby $5.5 million. Absurd salaries at any time.

Southwest Airlines CEO Gary Kelly has volunteered to take a whopping (sarcasm) 10% pay cut. He has a $7.6 million salary.

Delta Airlines CEO Ed Bastian, who earns a ridiculous $14.9 million annually, has cut his salary 100% for 6 months. I would think the airline could meet payroll with that $7.45 million savings.

No sound from American Airlines CEO Doug Parker who earns $12 million annually.

Ups and downs are part of the airline business. One's business model should, to some degree, allow for that. Airlines can't simply take and take, and then ask for free money (subsidies) in a downturn.

[kscarbel2]

“The healthy and optimistic among us will doom the vulnerable,” Landon said. She acknowledged that restrictions like a shelter-in-place may end up feeling “extreme” and “anticlimactic” — and that’s the point.

“It’s really hard to feel like you’re saving the world when you’re watching Netflix from your couch. But if we do this right, nothing happens. A successful shelter-in-place means you’re going to feel like it was all for nothing, and you’d be right: Because nothing means that nothing happened to your family. And that’s what we’re going for here.”

Emily Landon, chief infectious disease epidemiologist at University of Chicago Medicine

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