jaydreb Posted March 26, 2020 Share Posted March 26, 2020 1 hour ago, Eskimo Joe said: Has anyone heard if these checks are going to be counted against people at tax time next year, and if so, can someone opt out of taking these checks to avoid that? They are not taxable income. https://www.forbes.com/sites/kellyphillipserb/2020/03/25/all-you-wanted-to-know-about-those-tax-stimulus-checks-but-were-afraid-to-ask/#24b7145d1f9c 1 Link to comment Share on other sites More sharing options...
psuhoffman Posted March 26, 2020 Share Posted March 26, 2020 7 hours ago, PDIII said: I am going to keep my comment on the economic side because I do not want to open up the political discussion.. The stimulus is not about helping people, it is about stabilizing markets. That said, this is a fiduciary measure to inject money in to the economy. It is simply a measure to get money out of the treasury and in to circulation. 1200 per person is the largest single fiduciary act in the history of the world... Whenever they do this.. they have to be careful not to inject too much because the result will be inflation. The government really doesnt "run out" of money. The reality is that they can simply print more (or add a zero). The controlling factor is prices. I teach economics, I’m fully aware of what they are trying to do. I’m just saying imo this isn’t the best way. If we assume we are going to continue running the markets and economy then yes we have no choice but to inject massive amounts of cap into the system. But they aren’t simply printing money for the reasons you understand. They are borrowing it or reappropriating it mostly. The interest on that will then eat up more of our tax revenues. We could just print the money but then we cause inflation as you said. Most people don’t realize it’s the production and value of your resources that matters not cash. The issue with doing it this way is inequity. By continuing a “free market” economy while mandating huge sectors of the market shut down you are creating enormous inequities between industries and individuals that will cause instability going forward. Some will be irreparably hurt no matter how much stimulus we do. On the other hand if you temporarily freeze the economy and transition necessary industry to command controls and subsidization until this is over there is much less inequity when we restart. So long as you freeze all debt payments on both ends, both to and from financial institutions, they will emerge as intact as they were. Same with businesses and individuals for the most part. Problem is there are some institutions actually making a profit during all this and they don’t want to lose that. This will allow the markets and financial sector to operate and continue making a profit but at the expense of severe inequities to others. The other option is most simply come out where they were going in but it requires the markets and financial institutions to pause and lose several months of profits. But since they wouldn’t actually lose money just potential profits that is a much more equitable way to deal with this imo. 2 Link to comment Share on other sites More sharing options...
nw baltimore wx Posted March 26, 2020 Share Posted March 26, 2020 USA takes over Italy for second most infections and likely will pass China later today. Link to comment Share on other sites More sharing options...
psuhoffman Posted March 26, 2020 Share Posted March 26, 2020 7 hours ago, Baltimorewx said: Well it just got real for me, my job was forced to lay me off, among others. Hopefully just temporarily but obviously unknown with the scope of this thing. Sucks. Let’s hope the unemployment hotline isn’t crashed today. Very sorry. I hope things bounce back for you quickly when this is over. I’m in better shape than many and feel lucky but a significant portion of my earnings are “extras” that I do which are paid as stipends and not part of my base pay and my wife is on leave and not getting paid. So for now so things are a lot tighter than usual. Link to comment Share on other sites More sharing options...
HighStakes Posted March 26, 2020 Share Posted March 26, 2020 16 minutes ago, psuhoffman said: I teach economics, I’m fully aware of what they are trying to do. I’m just saying imo this isn’t the best way. If we assume we are going to continue running the markets and economy then yes we have no choice but to inject massive amounts of cap into the system. But they aren’t simply printing money for the reasons you understand. They are borrowing it or reappropriating it mostly. The interest on that will then eat up more of our tax revenues. We could just print the money but then we cause inflation as you said. Most people don’t realize it’s the production and value of your resources that matters not cash. The issue with doing it this way is inequity. By continuing a “free market” economy while mandating huge sectors of the market shut down you are creating enormous inequities between industries and individuals that will cause instability going forward. Some will be irreparably hurt no matter how much stimulus we do. On the other hand if you temporarily freeze the economy and transition necessary industry to command controls and subsidization until this is over there is much less inequity when we restart. So long as you freeze all debt payments on both ends, both to and from financial institutions, they will emerge as intact as they were. Same with businesses and individuals for the most part. Problem is there are some institutions actually making a profit during all this and they don’t want to lose that. This will allow the markets and financial sector to operate and continue making a profit but at the expense of severe inequities to others. The other option is most simply come out where they were going in but it requires the markets and financial institutions to pause and lose several months of profits. But since they wouldn’t actually lose money just potential profits that is a much more equitable way to deal with this imo. Good points. They should put an immediate freeze or suspension on mortgages and rents. Upwards of 90 days. Then the individual checks will carry more weight. Since the banks can borrow as much money as they want with either very low interest or none at all they will easily survive. 4 Link to comment Share on other sites More sharing options...
nw baltimore wx Posted March 26, 2020 Share Posted March 26, 2020 6 minutes ago, HighStakes said: Good points. They should put an immediate freeze or suspension on mortgages and rents. Upwards of 90 days. Then the individual checks will carry more weight. Since the banks can borrow as much money as they want with either very low interest or none at all they will easily survive. I agree.Been standing on a soapbox for anyone that will listen for awhile. On 3/16/2020 at 1:28 PM, nw baltimore wx said: With banks getting zero interest, why not just offer no mortgage payments for a month or two with no penalty, and simply add a month or two to the end of the mortgage. 5 Link to comment Share on other sites More sharing options...
Eskimo Joe Posted March 26, 2020 Share Posted March 26, 2020 Italy back up to over 700 fatalities/day...still kicking about a 10% mortality rate. 1 Link to comment Share on other sites More sharing options...
WxUSAF Posted March 26, 2020 Share Posted March 26, 2020 59 minutes ago, nw baltimore wx said: USA takes over Italy for second most infections and likely will pass China later today. Quite possible we pass Italy later today. Gonna be close. 4K behind now without all US updates yet. Obviously a ways behind still per capita. Link to comment Share on other sites More sharing options...
CAPE Posted March 26, 2020 Share Posted March 26, 2020 Finally got around to watching Parasite today. Damn. That went some places. Link to comment Share on other sites More sharing options...
dailylurker Posted March 26, 2020 Share Posted March 26, 2020 2 hours ago, nw baltimore wx said: USA takes over Italy for second most infections and likely will pass China later today. We have no idea what happened in China. They certainly aren't telling the truth. I'd be willing to bet a paycheck that millions died in China. 1 Link to comment Share on other sites More sharing options...
Baltimorewx Posted March 26, 2020 Share Posted March 26, 2020 2 hours ago, psuhoffman said: Very sorry. I hope things bounce back for you quickly when this is over. I’m in better shape than many and feel lucky but a significant portion of my earnings are “extras” that I do which are paid as stipends and not part of my base pay and my wife is on leave and not getting paid. So for now so things are a lot tighter than usual. Thanks. Yeah, my job was a union job so if they have the means to rehire in the future, they have to call me first before hiring any one else but we’ll just have to see how this thing goes. I filed unemployment today. Was on hold an hour and a half. I do fortunately work part time for county Rec parks but that’s only 10-15 hours a week max, so that won’t go too far but if I can get at least a few hundred bucks a week from unemployment, I’ll survive. Link to comment Share on other sites More sharing options...
LP08 Posted March 27, 2020 Share Posted March 27, 2020 @psuhoffman hey man...I think your Twitter was hacked or something...unless you really want me to see a great deal for ray band’s 1 Link to comment Share on other sites More sharing options...
psuhoffman Posted March 27, 2020 Share Posted March 27, 2020 3 hours ago, LP08 said: @psuhoffman hey man...I think your Twitter was hacked or something...unless you really want me to see a great deal for ray band’s It was sunny today!!! Thanks I’ll contact twitter and see how to fix that. I don’t really use twitter that much but out of boredom I trolled some Russian Trolls yesterday...then suddenly my account gets hacked. Amazing coincidence. 1 Link to comment Share on other sites More sharing options...
CAPE Posted March 27, 2020 Share Posted March 27, 2020 Speaking of Russia, I am on a quest for Imperial stouts today. Need a few good ones in the fridge. 2 1 Link to comment Share on other sites More sharing options...
nw baltimore wx Posted March 27, 2020 Share Posted March 27, 2020 56 minutes ago, C.A.P.E. said: Speaking of Russia, I am on a quest for Imperial stouts today. Need a few good ones in the fridge. This is a great Friday goal. 1 Link to comment Share on other sites More sharing options...
PDIII Posted March 27, 2020 Share Posted March 27, 2020 20 hours ago, psuhoffman said: I teach economics, I’m fully aware of what they are trying to do. I’m just saying imo this isn’t the best way. If we assume we are going to continue running the markets and economy then yes we have no choice but to inject massive amounts of cap into the system. But they aren’t simply printing money for the reasons you understand. They are borrowing it or reappropriating it mostly. The interest on that will then eat up more of our tax revenues. We could just print the money but then we cause inflation as you said. Most people don’t realize it’s the production and value of your resources that matters not cash. The issue with doing it this way is inequity. By continuing a “free market” economy while mandating huge sectors of the market shut down you are creating enormous inequities between industries and individuals that will cause instability going forward. Some will be irreparably hurt no matter how much stimulus we do. On the other hand if you temporarily freeze the economy and transition necessary industry to command controls and subsidization until this is over there is much less inequity when we restart. So long as you freeze all debt payments on both ends, both to and from financial institutions, they will emerge as intact as they were. Same with businesses and individuals for the most part. Problem is there are some institutions actually making a profit during all this and they don’t want to lose that. This will allow the markets and financial sector to operate and continue making a profit but at the expense of severe inequities to others. The other option is most simply come out where they were going in but it requires the markets and financial institutions to pause and lose several months of profits. But since they wouldn’t actually lose money just potential profits that is a much more equitable way to deal with this imo. Another very large factor that will further increase the inequality is the fact that anyone that has money to burn right now is dumping it in to stocks that have taken a dive (but will presumedly rebound). Make no mistake about the tax date being pushed back.. that was clearly a message to the rich to invest... Think about it.. who typically owes taxes at the end of the year? Usually high wage earners with complex tax situation. 1099'rs.. (I am one of those).. Once the economy rebounds... people are going to reap the rewards by doubling down. Link to comment Share on other sites More sharing options...
CAPE Posted March 27, 2020 Share Posted March 27, 2020 2 hours ago, nw baltimore wx said: This is a great Friday goal. Accomplished. Picked up some KBS, Oskar Blues TENFIDY Imperial barrel aged, and DFH WWS. 2 Link to comment Share on other sites More sharing options...
psuhoffman Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, PDIII said: Another very large factor that will further increase the inequality is the fact that anyone that has money to burn right now is dumping it in to stocks that have taken a dive (but will presumedly rebound). Make no mistake about the tax date being pushed back.. that was clearly a message to the rich to invest... Think about it.. who typically owes taxes at the end of the year? Usually high wage earners with complex tax situation. 1099'rs.. (I am one of those).. Once the economy rebounds... people are going to reap the rewards by doubling down. I’m not surprised we aren’t choosing the more “equitable” solution. We haven’t much cared about equity economically in a long time! And no I’m not talking about equity of outcomes. I’m not a communist. Everyone won’t win in a free market “game”. And I’m not going to get political and debate what we should do about that issue. But we don’t even seem to care much about setting up a system with equity of opportunity. The irony imo is if we didn’t have a system so skewed to advantage the consolidation of wealth we wouldn’t need as many of the need based programs that so many who help shape the system don’t like. 1 Link to comment Share on other sites More sharing options...
psuhoffman Posted March 27, 2020 Share Posted March 27, 2020 3 minutes ago, C.A.P.E. said: Accomplished. Picked up some KBS, Oskar Blues TENFIDY Imperial barrel aged, and DFH WWS. Congrats! Take the wins where you can get them... Link to comment Share on other sites More sharing options...
CAPE Posted March 27, 2020 Share Posted March 27, 2020 5 minutes ago, psuhoffman said: Congrats! Take the wins where you can get them... The place I went to is now carry out only- they have the front door opened with a table there and you tell them what you want and they go grab it. No one goes in the store. edit- more accurate to say they carry it out to you lol. 2 Link to comment Share on other sites More sharing options...
jonjon Posted March 27, 2020 Share Posted March 27, 2020 34 minutes ago, C.A.P.E. said: The place I went to is now carry out only- they have the front door opened with a table there and you tell them what you want and they go grab it. No one goes in the store. edit- more accurate to say they carry it out to you lol. That is exactly how we are doing our carry out beer orders. Works pretty well. 2 Link to comment Share on other sites More sharing options...
Baltimorewx Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, C.A.P.E. said: Accomplished. Picked up some KBS, Oskar Blues TENFIDY Imperial barrel aged, and DFH WWS. On your next run if you find it, try Key Siberian Summer 1 1 Link to comment Share on other sites More sharing options...
Vice-Regent Posted March 27, 2020 Share Posted March 27, 2020 2 hours ago, psuhoffman said: It would have been plenty cold enough 4 weeks ago. Most of our biggest blocking regime snowstorms aren’t arctic cold. 1996 was rare in that regard. Way more often they are cold enough but not super cold. Many of them even looked marginal temp wise from range like feb 2010 and Jan 2016. A 40 degree rain now would have been a 30 degree snow a month ago. I call bullshit. Our snow climatology is completely changed. It's gotten so ridiculous that Manchester in the hills is looking at one warning criteria snowfall a decade. 1 2 1 Link to comment Share on other sites More sharing options...
CAPE Posted March 27, 2020 Share Posted March 27, 2020 I think I will go with the Founders KBS for Friday Happy Hour. Cheers! 1 Link to comment Share on other sites More sharing options...
CAPE Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, Vice-Regent said: I call bullshit. Our snow climatology is completely changed. It's gotten so ridiculous that Manchester in the hills is looking at one warning criteria snowfall a decade. ^This is what happens when you are working from home and start drinking at noon. 2 1 Link to comment Share on other sites More sharing options...
Vice-Regent Posted March 27, 2020 Share Posted March 27, 2020 8 minutes ago, C.A.P.E. said: ^This is what happens when you are working from home and start drinking at noon. Be the change you want to see. Link to comment Share on other sites More sharing options...
Mrs.J Posted March 27, 2020 Share Posted March 27, 2020 It is so nice out right now! 3 Link to comment Share on other sites More sharing options...
psuhoffman Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, Vice-Regent said: I call bullshit. Our snow climatology is completely changed. It's gotten so ridiculous that Manchester in the hills is looking at one warning criteria snowfall a decade. I’ve had at least one warning criteria snowfall every year I’ve been here since 2006...even this year. Link to comment Share on other sites More sharing options...
nw baltimore wx Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, C.A.P.E. said: I think I will go with the Founders KBS for Friday Happy Hour. Cheers! I’ve had two vodka olive martinis. I need to be specific because we also do pickle martinis . But, I’ve got a two year old KbS, and I did a 25 mile bike ride today so I can afford the calories, so I’ll join you! 1 Link to comment Share on other sites More sharing options...
nw baltimore wx Posted March 27, 2020 Share Posted March 27, 2020 Is this two or three years old? Irregardless (yeah, I said it just to annoy those in the know), it's damn tasty. 1 Link to comment Share on other sites More sharing options...
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