It's the economy, stupid! (Finance-related news)

[Melena]

The line to Purge-Kill Mitch would be so god damn long, it would make a Disneyland queue look tame.

[Roranora]

the masses might be needed to overthrow and usurp his security and defenses and we will not be denied our bloodshed

[Yabby]

the masses might be needed to overthrow and usurp his security and defenses and we will not be denied our bloodshed

I don't know, he seems like the kind of guy that would get killed by his own guards.

[Roranora]

also a decidedly nonzero possibility

[6souls]

There has been an additional 2.98M claims for unemployment.

[kuronosan]

BuT tHE sToCK mArKeT lOoKS GrEaT

[6souls]

https://www.marketwatch.com/story/re...ans-2020-05-13
https://www.youtube.com/watch?v=P1bvHVxHtW4

The republicans are shaming the democrats for asking that publicly traded companies return their small business loans.

“Why on one hand would you tell people we want this lifeline out there to help keep people attached to their companies and keep people employed, and then turn around and target companies in the steelworking field, truck drivers, welders?” asked Republican Rep. Steve Scalise of Louisiana, the ranking member of the House Select Subcommittee on the Coronavirus Crisis, during a briefing broadcast over YouTube.

“These were the very people we were trying to help, and in fact they’re right now living in fear,” the congressman added. Scalise also accused Democrats of “literally harassing companies from all across the country that did everything that they were told to do,” in making their demands on the five companies.

On Friday, the committee’s seven Democratic members sent letters telling Evo Transportation & Energy Services Inc., Gulf Island Fabrication Inc., MiMedx Group Inc., Quantum Corp., and Universal Stainless & Alloy Product, Inc. to return their forgivable Paycheck Protection Program loans. “Congress did not intend for these funds to be used by large corporations that have a substantial investor base and access to capital markets,” the Democrats said in a news release announcing the letters.

In a criticism similar to Scalise’s, Republican Rep. Jackie Walorski of Indiana said during Wednesday’s briefing that Democrats are “bullying American companies for having the audacity to use the PPP loan in compliance with the law to save thousands of jobs for steelworkers, welders and truck drivers.”

[archibaldcrane]

"congress did not intend" literally fuck all the way off, write a clearer law then

[Yabby]

BuT tHE sToCK mArKeT lOoKS GrEaT

I feel like their goal is to keep it high until the election by tossing more money at it. Then once the vote happens to blame the election putting D's in power on the "sudden fall".

[6souls]

https://www.complex.com/life/2020/05...yee-hazard-pay
https://www.fa-mag.com/news/thousand...748.html?print

Amazon, Kroger (Ralphs, QFC, and Fred Meyer), Starbucks, & Target announce that they'll be walking back the "hero bonuses" that they gave to essential employees.

Major retailers like Target, Walmart, CVS, Whole Foods, Costco, Sprouts, and Kroger extended bonuses or offered temporary raises to workers during the pandemic’s outset, in order to continue operating. Starbucks decidedly closed thousands of stores and gave paid leave to all employees, while those who worked the drive-thrus were awarded a $3 hourly raise.

But the “hero bonuses” and “appreciation pay” are now petering out, as workers’ levels of exposure to the virus remains largely unaffected. Starbucks’ raises will cease at the end of May, as will Target’s $2 hourly raise. Ralphs, QFC, and Fred Meyer—grocery chains owned by Kroger—will eliminate the extra $2-per-hour that workers receive on Sundays.

Employers, for their part, say they’ve made efforts to increase worker safety. Kroger, which will end its so-called “hero bonus” on May 16, said it will continue to offer employees testing, emergency leave and face masks. In April, it also gave full-time workers a $300 bonus and part-timers half that.

“We are committed to the continued support of our associates’ safety and mental well-being” and will continue discussions with unions, said Kristal Howard, a Kroger spokesperson. She added that without the premium employees make on average $15 an hour.

Amazon, which has been criticized for its treatment of warehouse employees, recently extended its $2 wage bump through May. The company said it has stepped up cleaning and other precautionary measures, including leave of absence options for high-risk individuals and those impacted by school closures.

Target, which plans to roll back its raise at the end of this month, said it will continue to provide resources for workers and their families. The company offers two weeks of paid leave for employees who test positive for the virus or need to quarantine, and double that for those deemed vulnerable.

[Mythe_Seraph]

Not surprised. It’s time to go back to work boys.

[Kaslo]

Meanwhile Killer is getting tested for 'rona and his girlfriend isn't getting paid by Target for having to take time off until he gets results.

[archibaldcrane]

Are you guys ready to take the L?

(v. funny anyone thinks any of the other options are on the table)

[Salodin]

Who the fuck thinks were gonna have a Z shaped recovery after 150k Americans die wtf leak

Think we're gonna have a mix between W and L curve.


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[Tomiko]

Who the fuck thinks were gonna have a Z shaped recovery after 150k Americans die wtf leak

It's gonna be a z in cursive.

[Zealot]

It's gonna be a z in cursive.

Yeah but the way Billy Madison draws them.

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[Tomiko]

Yeah but the way Billy Madison draws them.

@60s

[Salodin]

Berniebros@1:25 lol

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[synistar]

Who the fuck thinks were gonna have a Z shaped recovery after 150k Americans die wtf leak

Think we're gonna have a mix between W and L curve.


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Also more like do you think the GOP will approve a spending plan that approaches the same impact of the New Deal? Just typing that thought made me laugh because lol GOP spending is such an oxymoron. The Fed is gonna just continue to BRRRRRRRRT to W but never fully recover like L.

[Psion]

its gonna be a frownie face curve, world war III, tabula rasa, new world order.