Life After Covid-19

[Floyd]

I think that while all of us will be happy to receive the stimulus payments, I can't help but feel sorry for folks in the future, especially the younger generations, who will be paying out more in taxes. The stimulus won't be a "freebie." A day of reckoning will come.

We are those folks in the future, why do you think a 1970 dollar is now worth a little more than a nickel ? A house was $12,000 a car was $2200. A good skilled job was $3.25 per hour.

Inflation is the highest and most insidious form of taxation and it is directly caused by deficit spending.
For over a hundred years, they have tried to "flatten the curve" on spending by managing inflation to around 1-2% often unsuccessfully... Sort of a "boil the frog" approach.

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[caprtaineddie]

We are those folks in the future, why do you think a 1970 dollar is now worth a little more than a nickel ? A house was $12,000 a car was $2200. A good skilled job was $3.25 per hour.

Inflation is the highest and most insidious form of taxation and it is directly caused by deficit spending.
For over a hundred years, they have tried to "flatten the curve" on spending by managing inflation to around 1-2% often unsuccessfully... Sort of a "boil the frog" approach.

You're absolutely correct that all of us will be helping pay the tab; the younger ones will bear most of the burden. Runaway inflation is probably just over the horizon. If I'm remembering correctly, the last time the budget was balanced was under Bill Clinton.

 

[Floyd]

You're absolutely correct that all of us will be helping pay the tab; the younger ones will bear most of the burden. Runaway inflation is probably just over the horizon. If I'm remembering correctly, the last time the budget was balanced was under Bill Clinton.

And the last time inflation was 27% it was under Jimmy Carter.
The late nineties makes the salient point, It was private sector productivity which balanced the budget for one year It did not of course mitigate the debt.
There has not been a time in my memory when government austerity was the cause of debt reduction.

 

[Mpro2]

You're absolutely right! I just told my girlfriend and her daughter the other day that once you get your tax returns and your stimulus checks to put them into your savings and do not touch it! Thankfully they both still have their jobs. The owner of the company where my girlfriend works just had a web meeting yesterday (they're all working from home) and said everyone will still have their job and he's giving them all a $100.00 gift card for all the inconvenience lately. What a great company!! I still don't want them to spend it as you never know what's going to happen down the road.

I'm self employed and will be saving mine too but it's basically replacing money I spent a couple weeks ago on all the ammo I just bought. lol

I somewhat disagree on this.....if you still have a job that is still paying you, and you are not in dire need of the money, then I would spend it on the small businesses that are trying to keep their doors open and employees paid. But, that's just my 2 cents.

 

[AzScorpion]

I somewhat disagree on this.....if you still have a job that is still paying you, and you are not in dire need of the money, then I would spend it on the small businesses that are trying to keep their doors open and employees paid. But, that's just my 2 cents.

They'll still be getting their regular check and can spend a portion of that. No one knows what's going to happen down the road so saving that money could/will come in handy. This whole virus could flare right back up come fall and that extra money will come in handy if so.

I come from an old school family that's Polish and Italian where we learned to save thanks to my grandparents. Don't get me wrong I spend money but I'm careful on how & where I spend it. Even with my Ranger I did a few mods but nothing extreme. I don't eat fast food (haven't in over 15 years) and I doubt we'll be going to many restaurants until this whole virus is under control. I have asthma and my girlfriend gets bronchitis very easy so there's no way we're taking any chance going to public places where we could catch this. Not to be rude but our health is far more important than some business keeping their doors open.

 

[outdoorphotog]

They'll still be getting their regular check and can spend a portion of that. No one knows what's going to happen down the road so saving that money could/will come in handy. This whole virus could flare right back up come fall and that extra money will come in handy if so.

I come from an old school family that's Polish and Italian where we learned to save thanks to my grandparents. Don't get me wrong I spend money but I'm careful on how & where I spend it. Even with my Ranger I did a few mods but nothing extreme. I don't eat fast food (haven't in over 15 years) and I doubt we'll be going to many restaurants until this whole virus is under control. I have asthma and my girlfriend gets bronchitis very easy so there's no way we're taking any chance going to public places where we could catch this. Not to be rude but our health is far more important than some business keeping their doors open.

F those businesses, protect yourselves!

 

[NOVA_Ranger]

Nothing stays the same; maintain awareness, adapt to changes, and live. The biggest take-away I see from this is the Chinese government is not our friend. We need to stop being so reliant on them for goods and we need to take note (yet again) of how dishonest / self-serving they are.

Disclaimer, I'm not taking a shot at Chinese people in any way, my two cents are aimed straight at the Chinese government.

 

[outdoorphotog]

Nothing stays the same; maintain awareness, adapt to changes, and live. The biggest take-away I see from this is the Chinese government is not our friend. We need to stop being so reliant on them for goods and we need to take note (yet again) of how dishonest / self-serving they are.

Disclaimer, I'm not taking a shot at Chinese people in any way, my two cents are aimed straight at the Chinese government.

They been taking advantage of us for long enough, second benefit - bring more jobs back to the USA.

 

[IdahoRanger]

Problem is we have short term memory and will do the same thing again with a different country. We do need to manufacture stuff again here in the US.

 

[JeffM]

Corporations can make more money, and managers can give themselves bigger bonuses if they make more profit. That seems to be the number one goal of Americans these days. If you want to maximize profits at any cost this is what you get. And if society only want to pay the cheapest possible price their are other costs to that society. Would you pay $1 more so fast food workers are paid a living wage? Would you pay $3-5 more for a prescription so companies would put their manufacturing facilities in America? Or TV sets??? Historically the answer has been no in America.

No, I'm not a communist, but I do hold to the idea that corporations owe a duty to the society that allows them to exist.

 

[outdoorphotog]

Corporations can make more money, and managers can give themselves bigger bonuses if they make more profit. That seems to be the number one goal of Americans these days. If you want to maximize profits at any cost this is what you get. And if society only want to pay the cheapest possible price their are other costs to that society. Would you pay $1 more so fast food workers are paid a living wage? Would you pay $3-5 more for a prescription so companies would put their manufacturing facilities in America? Or TV sets??? Historically the answer has been no in America.

No, I'm not a communist, but I do hold to the idea that corporations owe a duty to the society that allows them to exist.

I will always pay more for something made in the USA if there is an option available.

 

[caprtaineddie]

The main reason that we've been getting so much from other countries, China in particular, is that companies ask for bids on building/making a particular product--It can be electronics, appliances, automotive parts or socks and underwear. Whoever bids the lowest wins the contract. That's why the majority of the stuff we buy from Walmart comes from China. They'll make it cheaper and American companies simply can't compete.

 

[Noel Willhite]

Thanks for the laugh, good to see the Bitcoin loonies are still out there

Lol
The laugh is all around you

 

[AzScorpion]

Well I'm glad to see they didn't learn from the first mistake!

China Reopens Markets Selling Bats, Pangolins After COVID-19 Effect Dips
https://www.ndtv.com/world-news/chi...-pangolins-after-covid-19-effect-dips-2203742

On a side note I heard the sweet and sour Pangolins is to die for.

 

[Dr. Zaius]

Mmmmmmmm......

Back on the menu.

Joking aside, that they learned nothing from this is troubling.

But a big change in tradition is hard to accept for anybody.

Think if it was suddenly discovered that chicken was causing a pandemic.

A lot of people would go right back to eating it after the perceived threat was over.

Just look at the numbers that don't think they need to isolate since they don't consider themselves at risk, never mind putting everybody around them at risk.

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