241–250 of 595 posts
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I wonder who downvotes this and why.
QE has been going on for years since 2008. Still waiting on that inflation. https://www.usinflationcalculator.com/inflation/historical-i... QE contains an easy break on inflation. If it starts surging, the market can just have the assets the fed holds added back to it.
Yet the S&P500 is still green. The Fed continues to print in order to delay the inevitable. Either a currency crisis or hyperinflation.
Household incomes rose because of the stimulus. https://www.bea.gov/news/2020/personal-income-and-outlays-ap... https://tradingeconomics.com/united-states/personal-savings#... . So millions are defaulting, but millions of others are awash in newfound cash and savings.
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> when things come easy to people I think you have a very misguided idea of what it's like to live in poverty.
I think you have a very misguided idea of what it's like to be a landlord....and perceptions of who/what 'landlords' (a very unfortunate term) are from some tenants... no good deed goes unpunished etc. Plenty of great people around but you have to be very careful who you rent to...
I have a commercial tenant who was forced to shut down their business during the lockdown. I just waived rent until they were allowed to reopen. You can't get blood from a turnip, and I really don't want to force them into default and try to find another tenant in this environment anyway. Almost everybody is taking a haircut this year.
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Savings rates are through the roof right now, I would worry more about a deflation spiral.
You may be biased as a WFH/silicon valley type (continuing to produce income despite shelter at home). The median checking account balance was $3,400 in 2019, and that was before COVID19 struck. There's a lot of people who were already barely hanging on, and now covid and demonstrations have pulled the rug out from under them. We're only 2 months in. Things will get worse before they get better. 1. https://www.valuep…
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Nothing is doubling every week anymore. Why did you bring that up? Daily deaths across pretty much all nations are decreasing even as lockdowns are removed. Nit pick all you'd like, be as afraid as you like, but the numbers you supplied don't support your assertions.
Many states are experiencing continued increase in infection rates. See https://www.worldometers.info/coronavirus/usa/california/ , https://www.worldometers.info/coronavirus/usa/texas/ , to a lesser extent https://www.worldometers.info/coronavirus/usa/florida/ for example. Deaths will lag that. Doubling time is really only a legitimate factor insofar as we can develop vaccines and treatments in the interim, and that…
I grant that the worst might not be behind us, but I also keep in mind that the experts said from the beginning that most likely outcomes are that this will become another variant of the common cold or flare up some years similar to a bad flue season [0]
I also agree that this needs to be watched, and I appreciate your realistic appraisal of lockdowns despite the possible remaining danger.
[0] https://www.statnews.com/2020/02/04/two-scenarios-if-new-cor...
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Every time I see comments like this, and no direct offense intended, It always strikes me as coming from somebody who has never filed large insurance claims before. Been seeing this so much with riots lately, "oh you have insurance right, why you mad about your business getting destroyed?". If only it was that simple.
The largest insurance claim I've had was for a little over $5k for a vehicle repair after collision while avoiding a pedestrian in the street. I'm not sure if you think that's "large" but it was very painless to do IMO.
Source: been through insurance claim on a business that burnt to the ground with months of finished product stock (and which our accountant had accidentally under-insured. Very painful!)
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In some places, like Oakland and Tahoe, rent seems to be going up. But in San Francisco it is going down. Probably all as a result of people fleeing San Francisco to nearby places with a cheaper rent per square foot.
Are that many people really moving away? I understand the logic, but it's a major life decision, so I'm surprised if it's happening so rapidly in response to covid. I've heard of people leaving the city temporarily, but assumed many of them were maintaining their apartments. I would have guessed the lower rents were more about money drying up, and landlords being desperate to hang onto any tenant who can pay.
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All that proves is how deeply underpaid those jobs were. Say that $1600/wk is perfectly livable for her. That means formerly, she was working at a job that did not pay her enough to live, but she was forced to because the alternative is worse. Arguably, for many people, they could live on even less than that. Countless people who are forced to be in the job market, slaving away at crappy jobs at the threat of poverty…
> All that proves is how deeply underpaid those jobs were. How does it do that? The CARES Act specifically pays money per week in addition to what unemployment pays. So, whatever you made before, even if it was a sustainable wage, you make more by not working right now, even if you could be working.
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Savings rates are through the roof right now, I would worry more about a deflation spiral.
You may be biased as a WFH/silicon valley type (continuing to produce income despite shelter at home). The median checking account balance was $3,400 in 2019, and that was before COVID19 struck. There's a lot of people who were already barely hanging on, and now covid and demonstrations have pulled the rug out from under them. We're only 2 months in. Things will get worse before they get better. 1. https://www.valuep…