Are you expecting financial hardship soon because of the Corona Virus?

[muscle96ss]

I honestly don't know enough from the medical side and wouldn't want to speak of out place on something I don't know enough about. In our specific case it was people in long island who are really in the middle of the craziness. Many of the docs there went from not believing in it to being big time believers. Other areas of the country they are very skeptical still.

Frankly, I just don't know enough about the drug to have a strong opinion. We are not requiring or asking our team to take it but they are allowed to if they want to.

I think skepticism is necessary at first in order to ensure you have all the facts, the best that you can, and then make an informed decision. Unfortunately the skepticism in this case is driven by the media and is not based on facts but instead on fear for the sole purpose of playing politics and being against anything that is said by the current president.

 

[austrianoak]

Even with the voluntary budget, the US contribution is still about 20% or so of their total budget. It's just that I think I saw that number yesterday and got confused. Too many stats!

I hope that the WHO makes some personnel and policy changes so we can join in again.

Oh yeah, I just realized - been a long day, 12+ hours in front of a computer screen defo has an impact on me sometimes haha.

We’ll see how the situation develops, not sure what to think of Bill Gates’ involvement/interests in WHO and his “agendas” - and no, I don’t want to open up another can of worms, just thinking out loud here haha.

Hope you’re keeping up well, Maldorf!

 

[beverast]

Financial hardship - no. I'll still get my full salary at the end of the month plus I have enough liquid assets (savings) to live a couple of months without having to worry even without an income.
Financial losses - arguably. According to my contract I'm entitled to a 13. and 14. salary in May and November respectively, and a bonus to the tune of 10% of EBIT due with finalisation of the trade balance. Might have to forego the May payment (maybe we can talk about a delay of payment, will have to see about that) and obviously the EBIT will have taken a hit regardless. Because of longstanding large volume orders I already know the rest of the year will be decent to good, so I wouldn't want to forego the bonus just to see the rest of the year go really, really well.

Alas, it's still a long road until things can return to normal. We're serving a number of industrial clients that are heavily relying on international supply chains, especially goods coming out of France and Italy. Unless the suppliers there can start shipping out wares to the rest of Europe again, reopening production is pointless. Luckily enough, we have a number of customers that either are fully stocked or not relying on international supply chains too much, and at the same time have orders to fill themselves. There's no doubt in my mind that it will still take a couple of months for things to fully normalise.

 

[hawkmoon]

Good article on where the stimulus money is going: https://finance.yahoo.com/news/stimulus-intended-help-coronavirus-ravaged-145127109.html

 

[EWRECK]

Good article on where the stimulus money is going: https://finance.yahoo.com/news/stimulus-intended-help-coronavirus-ravaged-145127109.html

Same as it ever was. I read an article on Harvard, with its 40 billion endowment, got their hands in the cookie jar for 25 million. Looks like mom n pop are screwed.

 

[maldorf]

Good article on where the stimulus money is going: https://finance.yahoo.com/news/stimulus-intended-help-coronavirus-ravaged-145127109.html

The hedge fund situation is quite frustrating. My wife has been working with bank customers in commercial real estate. Those customers own big apartment complexes, shopping strips and malls, and business parks. They need help fast too because their tenants aren't paying rent. They can't pay their bank loans now. Last week the money ran out.

 

[Matsuo Munefusa]

The hedge fund situation is quite frustrating. My wife has been working with bank customers in commercial real estate. Those customers own big apartment complexes, shopping strips and malls, and business parks. They need help fast too because their tenants aren't paying rent. They can't pay their bank loans now. Last week the money ran out.

so the bank gets a bail-out, the big landlords get a bail-out and my partner and I still haven't got our measly 1200 checks? Great.

We're fine but I can easily imagine a scenario (that is being iterated probably hundreds of thousands times around the country right now) where we have no savings and are afraid for how we will survive the next month...that's happening right now to your brothers and sisters around our country while everybody is worried about the "economy". Fuck the economy. Put food on people's tables.

 

[beverast]

I don't know how serious the situation with hedge funds and banks is, I personally - seeing as people on average are terrible - would imagine they don't really need the money. However, I think saying "fuck hedge funds, fuck banks, fuck the economy" is a little bit short sighted, since those are the dominoes you don't want to see start falling on top of the health care crisis. Just sayin', Bear Stearns and 2008 and all that. (Not that you can really compare the two situations per se, just pointing out how a collapsing financial sector will not exactly make things better).
I personally can't speak to the situation in the US as much, since I, as a central European, have a fairly Euro-centric view of things. At the end of the day, however, I do agree that ailing individuals and business need to be helped by the state. It's also a bit of an irony that those who scream the loudest for deregulation and free markets are now the first to run for government paid cover.

 

[maldorf]

You guys don't want to see what happens if a bunch of good sized banks go under and your landlord does too.

 

[maldorf]

If you own a business and your landlord does have to file bankruptcy, this page has some facts and advice that might help.

Impact of Landlord Bankruptcies on Commercial Tenants

Adding to a bad situation is the fact that a large number of commercial landlords refinanced, and took equity out of, their properties during 2005 – 2007 in the mi

www.realestatelawyers.com

 

[nidnoy]

You guys don't want to see what happens if a bunch of good sized banks go under and your landlord does too.

Anarchy, no joke, and not good. I hate it, but it’s unfortunately probably true. We would see just what animals human beings can be. I know I often sound negative about human nature but it is often true. Stress and suffering is like hot water and we are tea bags, it brings out what is inside us, good and bad. Often after stress I look in the mirror and I don’t like what I see.

 

[joos23]

Everything was going good till know. My unemployment pay went on hold. They have had so many problems. Such a damn joke

 

[maldorf]

Anarchy, no joke, and not good. I hate it, but it’s unfortunately probably true. We would see just what animals human beings can be. I know I often sound negative about human nature but it is often true. Stress and suffering is like hot water and we are tea bags, it brings out what is inside us, good and bad. Often after stress I look in the mirror and I don’t like what I see.

It happened in Greece not long ago. The whole monetary system came crashing down

 

[maldorf]

Wow, get paid to get oil!!! Get paid $36.73 to take oil off their hands.

"Ongoing concerns over swelling oil inventories, with little demand to ease the pile up due to the ongoing fallout from the coronavirus, sent West Texas Intermediate crude for May delivery plunging 305 percent to a record low -$36.73 per barrel. At a price below zero, buyers would be paid to take delivery as there are costs associated with transportation and storage."

Oil is now more than worthless, its a liability. How long will this last? Gas prices should go down more.

Stocks tank as oil falls below zero for first time ever

The historic drop in crude infected US equities which fell in tandem.

www.foxbusiness.com

 

[Adr805]

Im a barber, since the shut down its been tough, didnt qualify for the stimulus even tho i filed taxes, denied me unemployment, denied everything. I could still do house calls but that would put my barber license and huge fines on the line. Luckily ive always been good at saving money so living off of savings right now. Was saving to hopefully buy a house in the near future but unfortunately all my savings is going towards my living expenses. I have a record too so its harder to find employment in essential businesses. Ive talked to a few of my buddies in construction and at least where im at theyve slowed down alot, and arent looking to hire Anyone. Trying to invest in some certs like hazmat, and forklift licenses that will help me find some employment. I also filed to have my record set aside as its almost 8 years old cause that would help Lot on a background, And got denied

 

[maldorf]

Im a barber, since the shut down its been tough, didnt qualify for the stimulus even tho i filed taxes, denied me unemployment, denied everything. I could still do house calls but that would put my barber license and huge fines on the line. Luckily ive always been good at saving money so living off of savings right now. Was saving to hopefully buy a house in the near future but unfortunately all my savings is going towards my living expenses. I have a record too so its harder to find employment in essential businesses. Ive talked to a few of my buddies in construction and at least where im at theyve slowed down alot, and arent looking to hire Anyone. Trying to invest in some certs like hazmat, and forklift licenses that will help me find some employment. I also filed to have my record set aside as its almost 8 years old cause that would help Lot on a background, And got denied

That is rough. i don't understand why they turned you down for unemployment. Do you work at someone's shop or own your own?

 

[DK0223]

Everything was going good till know. My unemployment pay went on hold. They have had so many problems. Such a damn joke

Idk what state you live in, but NJ is slacking big time. I’ve yet to receive my $600 extra a week

 

[oklahomapoke]

A lot of people like personal trainers, bartenders, servers, etc are out of work because their facilities are closed down. I work in the car business and my income is 100 percent commission based and its been dead the last week. Are you expecting major financial issues soon as not being able to pay the rent or mortgage, car payment, etc because of this? What are your plans?

I have not read many of the posts, but you might check your state gov website my state is offering some money if your income has been reduced. Hope that helps.

 

[Adr805]

That is rough. i don't understand why they turned you down for unemployment. Do you work at someone's shop or own your own?

I work for a shop, not sure why i got denied either. I tried calling the unemployment office but every time i call it tells me “there is more than a 4 hour wait, goodbye” and then hangs up on you lol, i did get an email saying “you may be eligible for pandemic relief funds” but that doesnt start until the 25th, so i have to wait to apply for that

 

[maldorf]

Idk what state you live in, but NJ is slacking big time. I’ve yet to receive my $600 extra a week

States are going to start burning through all of their unemployment funds and then they have to go beg the feds for more. Ohio, where I live, is close to using all of their's. Maybe his state has run out.