Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

3.28M file for U.S. jobless benefits

wsj.com

Post reply on HN
Print view View original

131–140 of 711 posts

Re: 3.28M file for U.S. jobless benefits

#131

Post by lonelappde »

Kaze404 wrote: post #69
big_chungus wrote: post #62

For this not to bankrupt the nation and retard our growth for the next twenty-five years, we need to all go back to work, today. Even if coronavirus kills a million people, the rest will probably be fine in the long term. If we shut down the economy, three hundred million will be affected. This "flattening the curve" business is clearly not worth it. You cannot shut the economy. There is only so much we can borrow. T…

One thing I don't understand about this line of thinking is how do you expect sick people from working? Sure, not everyone will die but a significant portion of the population will get infected and need at the very least to stay home for a week or two. How is that situation better than where we're at now?

2 weeks is less than 3 months, obviously.

Re: 3.28M file for U.S. jobless benefits

#132

Post by minikites »

lonelappde wrote: post #113
ian0 wrote: post #85

How is our social system so fragile? I mean seriously - thousands of years and wireless comms and rockets to the moon and not only do we forget to prepare for a virus (something that had happened routinely throughout our history) but when it hits and people have to stay at home for a few weeks the economy falls down and leaves millions of people who want to work unable to do so.

Rare catastrophes are hard to prepare for, because the cost of preparation is expensive. "Routinely happening" once a century or two isn't an easy target.

It's a perfectly achievable target, we just have one political party that prioritizes private corporate profits and the interests of very wealthy citizens above all other societal needs.

Re: 3.28M file for U.S. jobless benefits

#133

Post by [deleted] »

scottLobster wrote: post #81
sundaeofshock wrote: post #59

Earlier quoted context omitted.

Seriously? There were a number of submissions yesterday to HN discussing the relative merits of sacrificing millions for the sake of the market. Perhaps you missed those?

Not sure if this was your intent, but "sacrificing millions for the sake of the Market" sounds like you're trying to shift away from the point that right now about 3.28 million more folks (probably more) are wondering how to pay their rent/mortgages and feed their children. If this lockdown continues indefinitely the death numbers from the economic fallout will likely eclipse those of the pandemic. But nah, the "mark…

[deleted]

Re: 3.28M file for U.S. jobless benefits

#134

Post by wpietri »

yulaow wrote: post #22
toomuchtodo wrote: post #12

Earlier quoted context omitted.

This is also only the beginning, as lockdowns across the nation aren’t in full swing yet.

There is usa how the implemented lockdowns work? They forced to shut down all non-essential industries and shops? Or they just suggested it? I am finding confusing information online. Like... Did they really give to the each employer the power to decide if they are essential or not?

It varies a lot by state. I know that here in SF, they had some clear rules (obviously high-contagion things must close; obviously vital things should stay open) with a lot of gray area. But they've been removing the gray area over time. Which I think has been a good approach, as economies are complex.

Re: 3.28M file for U.S. jobless benefits

#135

Post by gadders »

PaulRobinson wrote: post #23

A staggering number, and unprecedented in the modern era. I'm not in the US or an America, but my (retired), Father is and for the sake of the people around him and his family I hope this is the point where the American political system - and Republicans in particular - realise that their ideologies are dead. In the UK we saw an Old-Etonian Tory Prime Minister in the space of a couple of weeks: - Effectively national…

>> - Become champion supporters of an NHS they were - until recently - trying to sell bit off of

No evidence for this whatsoever, but is just the usual Labour dog-whistle claim against every Tory govenment.

Re: 3.28M file for U.S. jobless benefits

#136

Post by mrkramer »

baron_harkonnen wrote: post #99
dragonwriter wrote: post #72

Earlier quoted context omitted.

> I like to think this event changes people's perspective on folks out of work in the US. Sure, just like the Depression did. And just like the Depression, a few years of boom times afterwards and that effect will be negated until the next similar event.

After the depression the US emerged as the global hegemon because of major shifts in power that happened as a part of WWII. The US was uniquely adapted to grow to be the global super power at the same time that European nations were taking a huge hit from the war. I suspect this will ultimately lead to China as the new hegemon. We're seeing key advantages to the Chinese state that the US cannot adapt to. Decades of p…

Germany lost 2 World Wars and today it has greater GDP than UK by $1 trillion. It doesn't matter who is hit harder it matters whose economy is more efficient and has more innovations.

Re: 3.28M file for U.S. jobless benefits

#137

Post by twoquestions »

cjslep wrote: post #32

I grew up with the puritanical mindset of: "Your intrinsic worth as a human is the money you earn; because the money you earn is from how hard you work; and how hard you work is a reflection of your intrinsic Virtue." Thus I grew up in a family that loathes the unemployed. I really hope -- though I have grave doubts -- that this event gets through to them, so that they can have some personal growth, too.

One of my big hopes is at the end of this mess, the Protestant Work Ethic and Prosperity Gospel go down in flames.

This event should show anyone with even a bit of sense that your 'virtue' is only a small part of your economic power.

Re: 3.28M file for U.S. jobless benefits

#139

Post by _y5hn »

mrfusion wrote: post #116
cjslep wrote: post #32

I grew up with the puritanical mindset of: "Your intrinsic worth as a human is the money you earn; because the money you earn is from how hard you work; and how hard you work is a reflection of your intrinsic Virtue." Thus I grew up in a family that loathes the unemployed. I really hope -- though I have grave doubts -- that this event gets through to them, so that they can have some personal growth, too.

Sadly everyone seems to be doubling down on their existing strong opinions. (Any ideas to improve that?)

People learn through hardship. We haven't experienced hardship yet.

Re: 3.28M file for U.S. jobless benefits

#140

Post by asdfasgasdgasdg »

aguyfromnb wrote: post #120
asdfasgasdgasdg wrote: post #80

Earlier quoted context omitted.

I'm guessing that index does not capture total return. For example, DAL has offered ~2-3% annual dividends at least since 2013, which adds up to a pretty substantial difference to between total return and asset price if reinvested. It's not clear if that's when they resumed dividends or if Yahoo Finance just doesn't have data going back further.

Why don't you do the calculation then, instead of dismissing an article/calculation based on something you're not even sure is true?

You want me to . . . hand-calculate market-weighted total return of an index? Without access to the underlying financials? That's a big ask for an internet comment.

I didn't dismiss the article. I provided additional context that might be helpful in evaluating its claims. You are free to do with that what you will.

https://www.nyse.com/publicdocs/nyse/indices/nyse_arca_globa...

"The Index tracks the price performance ..." suggests that my surmise is correct, at least for the global version of this index.

Post reply on HN