quote:

Originally posted by braillediver:
Tax revenue for cities and states must be collapsing as expenses increase with unemployment etc.

Those on the edge will go over- It'll be interesting to see this unfold.

Yes it will. And not only is sales tax revenue currently collapsed, property tax revenue is next. It will take a little bit for housing prices to come down. Sellers still want to get what they could have gotten on March 1st. But houses are sitting, people do not have money, and prices will be forced to come down. And when prices come down, so does property tax revenue.

Its the rule of diminishing returns. The first time they say something it has an effect. Not so much the 100th time. I just can't watch the "news" anymore. I try, with the hope they'll say something of value or interest. My interest not theirs. But then their agenda gets in the way so all they do is waste my time. Over and over, and I'm too stupid to accept it.

But if we just save one life, right?

Coronavirus could drive half a billion people into poverty worldwide, warns Oxfam

The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday.

The report released by the Nairobi-based charity ahead of next week's International Monetary Fund (IMF)/World Bank annual meeting calculated the impact of the crisis on global poverty due to shrinking household incomes or consumption.

"The economic crisis that is rapidly unfolding is deeper than the 2008 global financial crisis," the report found.

"The estimates show that, regardless of the scenario, global poverty could increase for the first time since 1990," it said, adding that this could throw some countries back to poverty levels last seen some three decades ago.

The report authors played through a number of scenarios, taking into account the World Bank's various poverty lines - from extreme poverty, defined as living on $1.90 a day or less, to higher poverty lines of living on less than $5.50 a day.

Under the most serious scenario - a 20% contraction in income - the number of people living in extreme poverty would rise by 434 million people to 922 million worldwide. The same scenario would see the number of people living below the $5.50 a day threshold rise by 548 million people to nearly 4 billion.

Women are at more risk than men, as they are more likely to work in the informal economy with little or no employment rights.

"Living day to day, the poorest people do not have the ability to take time off work, or to stockpile provisions," the report warned, adding that more than 2 billion informal sector workers worldwide had no access to sick pay.

The World Bank last week said poverty in East Asia and the Pacific region alone could increase by 11 million people if conditions worsened.

To help mitigate the impact, Oxfam proposed a six point action plan that would deliver cash grants and bailouts to people and businesses in need, and also called for debt cancellation, more IMF support, and increased aid. Taxing wealth, extraordinary profits, and speculative financial products would help raise the funds needed, Oxfam added.

Calls for debt relief have increased in recent weeks as the fallout from the COVID-19 pandemic has roiled developing nations around the world.

In total, governments around the world would need to mobilise at least $2.5 trillion to support developing nations.

"Rich countries have shown that at this time of crisis they can mobilize trillions of dollars to support their own economies," the report said.

"Yet unless developing countries are also able to fight the health and economic impacts the crisis will continue and it will inflict even greater harm on all countries, rich and poor."

(REUTERS)

https://www.france24.com/en/20...-world-bank-epidemic

quote:

To help mitigate the impact, Oxfam proposed a six point action plan that would deliver cash grants and bailouts to people and businesses in need, and also called for debt cancellation, more IMF support, and increased aid. Taxing wealth, extraordinary profits, and speculative financial products would help raise the funds needed, Oxfam added.

Sooo... They created a model to project poverty, and have some marvy ideas on how to fix it? Mkay...

quote:

Originally posted by Balzé Halzé:
But if we just save one life, right?

Coronavirus could drive half a billion people into poverty worldwide, warns Oxfam

...

The article doesn't mention any fallout from decreased charitable giving, which will also have an impact.

quote:

Originally posted by Balzé Halzé:

My god, that had me laughing out loud. Only way to make that story better is if you repeated his insult towards her. Thanks for that.

I wish that I had that on video. It might have made youTube clip of the week.

quote:

Originally posted by Balzé Halzé:
Dems block McConnell bid to swiftly approve $250B more for small business fund

A $250 billion urgent request to shore up a depleting small business fund failed to pass the Senate Thursday after Democrats objected to the measure pushed by the White House and Senate Majority Leader Mitch McConnell.

With lawmakers home and social distancing, McConnell sought to pass the cash infusion swiftly Thursday by unanimous consent with a skeleton group of senators, but Democrats blocked the effort because they want add-ons to help businesses in disadvantaged communities and an additional $250 billion in funds for other priorities.

I'm as tired of all of these bailouts as I am of being told to stay at home.

I just listened to a radio interview of Scott Berg historian talking about the pandemic of 1918.
When asked what the Federal government did about the pandemic of 1918 he said: "Nothing. The government told people to stay at home, that was it. They were encouraged to stay home, if possible, but there were no limits imposed on people's activity. There were no bailouts.
It was basically just common sense - take care of yourself and take care of one another."

The part I'm talking about is around the 29 minute mark but listen between 26-29



That's exactly what our Federal government should be doing (NOT doing) today.

This message has been edited. Last edited by: chellim1,

quote:

Originally posted by chellim1:


I just listened to a radio interview of a historian talking about the pandemic of 1918.
When asked what the Federal government did about the pandemic of 1918 he said: "Nothing. The government told people to stay at home, that was it. They were encouraged to stay home, if possible, but there were no limits imposed on people's activity. There were no bailouts."

That's exactly what our Federal government should be doing (NOT doing) today.

And if I remember correctly, there was a "V" shaped recovery precisely because the government basically did nothing. Then came the roaring twenties.

If this has been posted I missed it. This is President Bush on pandemic preparedness in 2005.

https://youtu.be/spcj6KUr4aA

quote:

Originally posted by stoic-one:

quote:

To help mitigate the impact, Oxfam proposed a six point action plan that would deliver cash grants and bailouts to people and businesses in need, and also called for debt cancellation, more IMF support, and increased aid. Taxing wealth, extraordinary profits, and speculative financial products would help raise the funds needed, Oxfam added.

Sooo... They created a model to project poverty, and have some marvy ideas on how to fix it? Mkay...

That's how I read it.
OH...you have an apocalypse model, nice. AND you ALSO have some solutions, my, you guys have been thinking long and hard on this, huh?

quote:

Originally posted by Balzé Halzé:

quote:

Originally posted by chellim1:
I just listened to a radio interview of historian Dr. Scott Ganz talking about the pandemic of 1918.
When asked what the Federal government did about the pandemic of 1918 he said: "Nothing. The government told people to stay at home, that was it. They were encouraged to stay home, if possible, but there were no limits imposed on people's activity. There were no bailouts."

That's exactly what our Federal government should be doing (NOT doing) today.

And if I remember correctly, there was a "V" shaped recovery precisely because the government basically did nothing. Then came the roaring twenties.

Yes... exactly!
We are currently doing far more harm than good for our long-term economic health.

quote:

Originally posted by V-Tail:

quote:

Originally posted by Balzé Halzé:

My god, that had me laughing out loud. Only way to make that story better is if you repeated his insult towards her. Thanks for that.

I wish that I had that on video. It might have made youTube clip of the week.

And grabbed your crotches in unison

Guys

Typo of the day over at news aggregator Gab Trends, ach!

More fear-mongering. The goal- apparently- is to just fucking paralyze everyone with fear. I'm sick of the lies, the posturing and the propaganda.

quote:

Originally posted by Ripley:
Typo of the day over at news aggregator Gab Trends, ach!

And you know the Germans mentioned in the article could conquer all of Scandinavia!

This message has been edited. Last edited by: parabellum,

quote:

Originally posted by Ripley:
Typo of the day over at news aggregator Gab Trends, ach!

Jesus, did he swallow a smoke grenade or kegstand a full barrel after eating pea soup?

This message has been edited. Last edited by: parabellum,

And I'm of the opinion that while a lot of these elderly people died with Covid-19, not all of them died from Covid-19. We're being scammed.

quote:

Originally posted by SIG228:
And I'm of the opinion that while a lot of these elderly people died with Covid-19, not all of them died from Covid-19. We're being scammed.

Death certificates are funny things...

My Dad died a while back of organ failure after getting sick and having a DNR in place.

When I got the Death certificate, they had the cause as a broken back.

He had broken his back about 7 years earlier and had complications from that point on of various things.

When I looked into it, I was told that the original issue should be listed...if it can be determined to have a chain effect on the final outcome.

So if you get a virus, but die of a heart attack that was brought on by weakness from the virus, they "may" list the virus as the cause even though the heart attack got you.

Think of it as "root cause analysis."

One thing is certain: That the ruling class savors the grip on us that it has achieved during the past three weeks—above all the presumption that we must quietly accept non-legal decrees from on high. It will not give up that grip without a fight.

Is the President Forgetting Politics 101?

Regardless of when Trump acts to reopen the country, the ruling class will do whatever is in their power to prevent him from exiting the path to political perdition which he has entered.

To wit: Start from the fact that the ruling class is discredited. Separate yourself from it.

Angelo Codevilla • April 7, 2020

https://amgreatness.com/2020/0...etting-politics-101/