So.....

Section that includes boxing discussions and other combat sports.
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Primetyme199
TTR MMA Challenge #1 & 3 Champ
TTR MMA Challenge #1 & 3 Champ
Posts: 29626
Location: NJ

Re: So.....

Post by Primetyme199 » Wed Mar 25, 2020 8:35 pm

Let’s not turn this into a political thread.
The fighters he's beaten aren't even household names in their own household.

"Never shall innocent blood be shed. Yet the blood of the wicked shall flow like a river. The three shall spread their blackened wings and be the vengeful striking hammer of god."

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the13r
TTR
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Location: Miss You John & Kevin

Re: So.....

Post by the13r » Wed Mar 25, 2020 11:54 pm

People are expecting to get fired soon here... I'm in a public transport business so i can comment that in a market where we had a huge unexpected boom and couldn't keep up with demand, we are right now living a 85% drop in use and although deemed an essential service, we are about to get a draconian restructuring effort

Tocsin
Posts: 4157

Re: So.....

Post by Tocsin » Thu Mar 26, 2020 12:41 am

I work in a non-profit and thankfully our funding (which includes my salary) has already been secured for the next several years. We are working remotely, but everything has slowed down so much that in my particular role there isn't much to do at the moment. I should be able to endure this relatively well, but I am worried about the economy as a whole and know a lot of people who have already been seriously affected. Some laid off, some getting no business and unable to pay rent on their store space, some just dreading these things happening and thus psychologically in a bad place even if they are financially okay for now...

Here they just froze evictions (too late for some though) and have some sort of income assistance about to start. I am fairly satisfied with how the BC government is handling it at least..

Tocsin
Posts: 4157

Re: So.....

Post by Tocsin » Thu Mar 26, 2020 1:19 am

And I must admit, I was one of those people who lol'd and said people were overreacting when this thing started getting news....

Danielk015
Posts: 9404
Location: Irvine, kali

Re: So.....

Post by Danielk015 » Thu Mar 26, 2020 3:49 am

Man, the actual numbers will be rolling in as March and Q1 comes to a close. Already weekly filings are the highest in history numbers wise with this week having maybe 3 to 4 times the highest weekly unemployment claims during the great recession. I wonder where the GDP numbers in q1 will look like, but q2 will take a huge huge hit. There is more money printing in our future and unless a vaccine or a reliable remedy is created, we could be in for a long long summer of this. Even without a vaccine or remedy, the economy might be able to open up by June? If using China as a guide, they took 5-6 months to start relaxing shut down rules and getting the economy open again. I am hoping we will be able to beat that timeline, but in some ways, we are looking worse. Not sure how that is possible. Although China probably deflated their actual infected numbers, the US is on it's way to passing the reported ones and might be one the way to just having out of control infections, especially in large cities. We are at 1000 deaths and on pace to surpass China's reported deaths. Worst case scenario is a situation like Italy, France or Spain. I hope this doesnt spiral like that

I cant believe we are going to be in April soon and the situation is like this.

Slippery Pete II
Posts: 624

Re: So.....

Post by Slippery Pete II » Thu Mar 26, 2020 5:05 am

They are saying after this quarter the US economy will shrink by 25%...that's a massive hit.

Up here in Canada I don't expect it to be much different.

The Chinese took drastic measure to stop the virus in the Province where it all started. I'm fairly certain it was put on strict lockdown and you couldn't drive or fly out without special permission.

In Canada and the US you can still get on a plane and fly anywhere within the country. It's insane.

The cities where people live in very close quarters are going to get hit the most. NYC because it's so congested with people so close to each other is a problem.

Saw footage from London, England. Just yesterday the tube trains were packed like sardines, people shoulder to shoulder. It is dumb and crazy.

Italy and Spain, the big cities there are old, have narrow streets, small apartments with narrow hallways, people gather in city squares etc.

North America is still relatively spread out, even in big cities.

In Toronto the public transit ridership is down 90%. That is a massive drop. They are keeping it going so healthcare workers can get to and from work. But the mayor said they were running at a $20 million dollar loss per day because of the lack of riders. They are now cutting back drastically the amount of buses and subways running.

We are going into a deep depression, there's no doubt about that. The big question is how long is it going to take to get ourselves out of it. IMO the only thing that lifts us out of this is a proven vaccine. It will give people hope and instill confidence in the economy. Until that happens we are in for a world of hurt.

I have to also say that Governments around the world have really let their people down. The lack of supplies and equipment is an embarrassment. Especially in the west. They knew it was coming and did nothing.

The United States, Russia, China etc. have enough armaments to kill the entire worlds population many times over...yet can't cobble together enough masks, gloves, gowns and ventilators to treat and save people.

It's criminal.

TheSickness316
Posts: 7530

Re: So.....

Post by TheSickness316 » Thu Mar 26, 2020 7:20 am

the13r wrote:
Wed Mar 25, 2020 11:54 pm
People are expecting to get fired soon here... I'm in a public transport business so i can comment that in a market where we had a huge unexpected boom and couldn't keep up with demand, we are right now living a 85% drop in use and although deemed an essential service, we are about to get a draconian restructuring effort
People are already (at least temporarily) getting fired. 2 people I know for certain have at least lost their jobs temporarily because the place they worked has shut down.

Danielk015
Posts: 9404
Location: Irvine, kali

Re: So.....

Post by Danielk015 » Thu Mar 26, 2020 11:06 am

Wow, the weekly unemployment claims went past 3 million. close to 5 times the all time high. Crazy number. I think the 25% number in shrinking of the US GDP was if the government did not do anything to truly combat the pandemic. If the virus continues to spread out of control, the GDP probaby would shrink more than 25% as the news would be getting bleaker and bleaker. This enormous stimulus will plug the gap a bit. Even if a vaccine is a little way out, finding a way to treat the disease and lower the death rate will be vital but flattening the curve is the #1 for the short term. The ability to properly tread everyone that is moderate to critically sick is important. Italy's death rate is high because they have not enough beds, doctors/nurses and supplies. If we get to the equilibrium to provide the care, at least we can work for the best outcome of the patient. But even with this, unless a vaccine is found, if we let people back out in the public even with social distancing mandates, that will break down again and there is a chance it will flair up down the line. This is all so unpredictable here in the US

TheSickness316
Posts: 7530

Re: So.....

Post by TheSickness316 » Thu Mar 26, 2020 11:16 am

Danielk015 wrote:
Thu Mar 26, 2020 11:06 am
Wow, the weekly unemployment claims went past 3 million. close to 5 times the all time high. Crazy number. I think the 25% number in shrinking of the US GDP was if the government did not do anything to truly combat the pandemic. If the virus continues to spread out of control, the GDP probaby would shrink more than 25% as the news would be getting bleaker and bleaker. This enormous stimulus will plug the gap a bit. Even if a vaccine is a little way out, finding a way to treat the disease and lower the death rate will be vital but flattening the curve is the #1 for the short term. The ability to properly tread everyone that is moderate to critically sick is important. Italy's death rate is high because they have not enough beds, doctors/nurses and supplies. If we get to the equilibrium to provide the care, at least we can work for the best outcome of the patient. But even with this, unless a vaccine is found, if we let people back out in the public even with social distancing mandates, that will break down again and there is a chance it will flair up down the line. This is all so unpredictable here in the US
The stimulus is a step in the right direction, but I don't know about it plugging this gap as much as you think. Right now, the possible $1200 check is a 1 time payment. And IF you qualify for it, you're going to have to pay it back. They're not just giving it to you and saying this is a gift. It's essentially a loan. They expanded unemployment, but that is also only temporary. If this keeps going they're going to need to do another stimulus package agreement.

Danielk015
Posts: 9404
Location: Irvine, kali

Re: So.....

Post by Danielk015 » Thu Mar 26, 2020 4:57 pm

TheSickness316 wrote:
Thu Mar 26, 2020 11:16 am
Danielk015 wrote:
Thu Mar 26, 2020 11:06 am
Wow, the weekly unemployment claims went past 3 million. close to 5 times the all time high. Crazy number. I think the 25% number in shrinking of the US GDP was if the government did not do anything to truly combat the pandemic. If the virus continues to spread out of control, the GDP probaby would shrink more than 25% as the news would be getting bleaker and bleaker. This enormous stimulus will plug the gap a bit. Even if a vaccine is a little way out, finding a way to treat the disease and lower the death rate will be vital but flattening the curve is the #1 for the short term. The ability to properly tread everyone that is moderate to critically sick is important. Italy's death rate is high because they have not enough beds, doctors/nurses and supplies. If we get to the equilibrium to provide the care, at least we can work for the best outcome of the patient. But even with this, unless a vaccine is found, if we let people back out in the public even with social distancing mandates, that will break down again and there is a chance it will flair up down the line. This is all so unpredictable here in the US
The stimulus is a step in the right direction, but I don't know about it plugging this gap as much as you think. Right now, the possible $1200 check is a 1 time payment. And IF you qualify for it, you're going to have to pay it back. They're not just giving it to you and saying this is a gift. It's essentially a loan. They expanded unemployment, but that is also only temporary. If this keeps going they're going to need to do another stimulus package agreement.
I did not read many details yet as I want to do that after this is actually a law. I did not mean this will plug the gap completely, but in many ways, it is much better than nothing. especially with the unemployment federal benefits that will layer on top of states, and then some options small businesses have in getting through this crisis. I don't disagree that there probably will need to be another in some form later on as this pandemic will go on for longer than 3 months IMO and this stimulus will run out by then. But for the nest 3 months or so, on the surface, there seems to be good ideas in there.

TheSickness316
Posts: 7530

Re: So.....

Post by TheSickness316 » Thu Mar 26, 2020 5:25 pm

Danielk015 wrote:
Thu Mar 26, 2020 4:57 pm
TheSickness316 wrote:
Thu Mar 26, 2020 11:16 am
Danielk015 wrote:
Thu Mar 26, 2020 11:06 am
Wow, the weekly unemployment claims went past 3 million. close to 5 times the all time high. Crazy number. I think the 25% number in shrinking of the US GDP was if the government did not do anything to truly combat the pandemic. If the virus continues to spread out of control, the GDP probaby would shrink more than 25% as the news would be getting bleaker and bleaker. This enormous stimulus will plug the gap a bit. Even if a vaccine is a little way out, finding a way to treat the disease and lower the death rate will be vital but flattening the curve is the #1 for the short term. The ability to properly tread everyone that is moderate to critically sick is important. Italy's death rate is high because they have not enough beds, doctors/nurses and supplies. If we get to the equilibrium to provide the care, at least we can work for the best outcome of the patient. But even with this, unless a vaccine is found, if we let people back out in the public even with social distancing mandates, that will break down again and there is a chance it will flair up down the line. This is all so unpredictable here in the US
The stimulus is a step in the right direction, but I don't know about it plugging this gap as much as you think. Right now, the possible $1200 check is a 1 time payment. And IF you qualify for it, you're going to have to pay it back. They're not just giving it to you and saying this is a gift. It's essentially a loan. They expanded unemployment, but that is also only temporary. If this keeps going they're going to need to do another stimulus package agreement.
I did not read many details yet as I want to do that after this is actually a law. I did not mean this will plug the gap completely, but in many ways, it is much better than nothing. especially with the unemployment federal benefits that will layer on top of states, and then some options small businesses have in getting through this crisis. I don't disagree that there probably will need to be another in some form later on as this pandemic will go on for longer than 3 months IMO and this stimulus will run out by then. But for the nest 3 months or so, on the surface, there seems to be good ideas in there.
Getting money is better than no money even if it's just a 1 time thing. Now all that I've read is that this possible 1200 is essentially just a loan that will be paid back when you do your taxes next year. My hope is that changes, but that's what I've read and I hate that. People shouldn't have to pay that money back.

Danielk015
Posts: 9404
Location: Irvine, kali

Re: So.....

Post by Danielk015 » Thu Mar 26, 2020 5:52 pm

TheSickness316 wrote:
Thu Mar 26, 2020 5:25 pm


Getting money is better than no money even if it's just a 1 time thing. Now all that I've read is that this possible 1200 is essentially just a loan that will be paid back when you do your taxes next year. My hope is that changes, but that's what I've read and I hate that. People shouldn't have to pay that money back.
I agree. I think though it has to do with how the IRS categorizes earned income. Past stimulus checks were taxable as earned income, so I dont think you have to pay it all back. There will be a lot of Americans that won't be paying taxes or very little on the $1200 or $2400 if married because their tax bracket would be at the lower range. I have not heard it was a 'loan', but if it is and all of it has to be paid back, that blows.

I think that check plus additional unemployment federal benefits on top of State ones will help most out there that were working and lost their jobs. I heard they will also provide benefits for reduced work hours for those people that might have been moved from full time to part time hours. All in all, all the holes won't get addressed, but for a lot of folks this is helping out it seems like

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Cagiva9
Posts: 14345
Location: long beach, ca

Re: So.....

Post by Cagiva9 » Thu Mar 26, 2020 8:56 pm

Makes me a little bit concerned when the government starts handing out money. The money doesn’t come from nowhere.

Next stop runaway inflation??

Danielk015
Posts: 9404
Location: Irvine, kali

Re: So.....

Post by Danielk015 » Thu Mar 26, 2020 10:06 pm

Cagiva9 wrote:
Thu Mar 26, 2020 8:56 pm
Makes me a little bit concerned when the government starts handing out money. The money doesn’t come from nowhere.

Next stop runaway inflation??
yea man, hopefully not. when all is said and done in 2020, maybe $4-6T will be printed. Wow.

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