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Nzoner's Game Room>***NON-POLITICAL COVID-19 Discussion Thread***
JakeF 10:28 PM 02-26-2020
A couple of reminders...

Originally Posted by Bwana:
Once again, don't come in this thread with some kind of political agenda, or you will be shown the door. If you want to go that route, there is a thread about this in DC.
Originally Posted by Dartgod:
People, there is a lot of good information in this thread, let's try to keep the petty bickering to a minimum.

We all have varying opinions about the impact of this, the numbers, etc. We will all never agree with each other. But we can all keep it civil.

Thanks!

Click here for the original OP:

Spoiler!

[Reply]
'Hamas' Jenkins 12:42 PM 04-29-2020
Originally Posted by Discuss Thrower:
Eh, yeah actually it is gone forever after the money runs from the last round of funds approved last week. Mnuchin said there won't be any more rounds of PPP/EIDL.
They just opened up for new applications again on Monday, didn't they?
[Reply]
petegz28 12:43 PM 04-29-2020
Originally Posted by Discuss Thrower:
Any more aid to any businesses is a sunk cost fallacy without massive regulatory changes at this point.

As a taxpayer, I have no interest in propping up any business that cannot guarantee of paying back any fund transfers in a definitive period of time.
Typically I would agree except they are paying you back by staying in business and not laying people off. It isn't like we are keeping a failing business open because they can't get customers and we just like the owner.

This is about keeping businesses, most viable, who are being forced into an unsustainable state or less than viable state by the local government.

So you can pay to help these businesses through this or you can pay a ton in unemployment benefits and deal with an even shitier economy.
[Reply]
ToxSocks 12:43 PM 04-29-2020
:-) WTF did i stumble upon.


[Reply]
petegz28 12:44 PM 04-29-2020
Originally Posted by 'Hamas' Jenkins:
They just opened up for new applications again on Monday, didn't they?
And they had over 700,000 small business apply for loans and those loans will get them through about 2 weeks at best. And yes, the money is gone.
[Reply]
Discuss Thrower 12:48 PM 04-29-2020
Originally Posted by 'Hamas' Jenkins:
They just opened up for new applications again on Monday, didn't they?
Sure they did, but there's nowhere near the amount of money available for those applications.
[Reply]
petegz28 12:49 PM 04-29-2020
And just so some are clear a lot of the deferrals by banks for loans are not being tacked onto the end of the loans. They are being deferred for 3 months with the expectation that at month 4 not only do you owe the payment for month 4 but also for months 1-3.

So again, you put people out of work and then expect them to come up with a shit ton of money. We are going to see an economic impact like we have never seen if we are not careful.
[Reply]
'Hamas' Jenkins 12:50 PM 04-29-2020
Originally Posted by petegz28:
And they had over 700,000 small business apply for loans and those loans will get them through about 2 weeks at best. And yes, the money is gone.
After the second round of stimulus, yes. But you're acting like no small business had any access to funds or a six month forbearance for other types of small business loans.

So let's break our options down:

Option A): Everything stays closed indefinitely
Option B): Everything opens up without restriction
Option C): Things open up gradually and businesses are offered protection/forgiveness for a portion of their costs

You're acting like Option C isn't there, pete. It is. There have been issues with disbursement, but it's not like every single small business was told to get fucked, either.
[Reply]
Marcellus 12:50 PM 04-29-2020
Originally Posted by Detoxing:
:-) WTF did i stumble upon.

:-)

I think it's this guy after he shaved and washed his hair.


[Reply]
Mecca 12:52 PM 04-29-2020
Originally Posted by Detoxing:
:-) WTF did i stumble upon.

This is no way to promote your band sir.
[Reply]
Marcellus 12:56 PM 04-29-2020
Originally Posted by Mecca:
This is no way to promote your band sir.
Actually my bet is its eDave.
[Reply]
petegz28 12:57 PM 04-29-2020
Originally Posted by 'Hamas' Jenkins:
After the second round of stimulus, yes. But you're acting like no small business had any access to funds or a six month forbearance for other types of small business loans.

So let's break our options down:

Option A): Everything stays closed indefinitely
Option B): Everything opens up without restriction
Option C): Things open up gradually and businesses are offered protection/forgiveness for a portion of their costs

You're acting like Option C isn't there, pete. It is. There have been issues with disbursement, but it's not like every single small business was told to get ****ed, either.
No, Hamas...I am saying you need things like option C and they are not being offered up. If they are show me where.

Again, you are not reading what I said at all.

In fact you just made my fucking point and don't even get it.
[Reply]
'Hamas' Jenkins 01:02 PM 04-29-2020
Originally Posted by petegz28:
No, Hamas...I am saying you need things like option C and they are not being offered up. If they are show me where.

Again, you are not reading what I said at all.
The entire point of PPP and the SBA forbearance programs was to ensure that small businesses had aid available to them. Those PPP loans can be used, in part, to offset costs for utilities and rent. Forbearance programs allowed up to six months paid interest and principal on their loans. Wouldn't that classify as aid to a business that is running at less than normal capacity/revenue due to distancing requirements?

How can 700,000 businesses apply for options that don't exist? Is covering a loan for six months itself not a form of aid?
[Reply]
petegz28 01:05 PM 04-29-2020
Originally Posted by 'Hamas' Jenkins:
The entire point of PPP and the SBA forbearance programs was to ensure that small businesses had aid available to them. Those PPP loans can be used, in part, to offset costs for utilities and rent. Forbearance programs allowed up to six months paid interest and principal on their loans. Wouldn't that classify as aid to a business that is running at less than normal capacity/revenue due to distancing requirements?

How can 700,000 businesses apply for options that don't exist? Is covering a loan for six months itself not a form of aid?
JFC, Hamas....that money is gone. Got it? Gone. That was to get them through the last month in which we had to do it twice. We have already been over this. You have had no less than 2 people already explain it to you.

No one said they didn't exist. READ! You are not ****ing reading a god damn thing.
[Reply]
'Hamas' Jenkins 01:07 PM 04-29-2020
Originally Posted by petegz28:
JFC, Hamas....that money is gone. Got it? Gone. That was to get them through the last month in which we had to do it twice. We have already been over this. You have had no less than 2 people already explain it to you.

No one said they didn't exist. READ! You are not ****ing reading a god damn thing.
Pete,

The loans were opened back up on Monday. People applied for those loans. That money is going to be disbursed within two weeks. After that the money is gone, but it doesn't mean that aid was not disbursed. Why is that so hard to understand?


Is aid that was disbursed on the first round not aid? Is aid that is going to be disbursed in a few weeks not aid?
[Reply]
petegz28 01:11 PM 04-29-2020
Originally Posted by 'Hamas' Jenkins:
Pete,

The loans were opened back up on Monday. People applied for those loans. That money is going to be disbursed within two weeks. After that the money is gone, but it doesn't mean that aid was not disbursed. Why is that so hard to understand?


Is aid that was disbursed on the first round not aid? Is aid that is going to be disbursed in a few weeks not aid?
Hamas, listen to me for the 3rd time.....that money was gone as soon as it was offered and as Discuss already tried to tell you there wasn't near enough money to begin with. It's obvious you have no fucking idea of what you're talking about here.

And while Mnuchin is saying no more my Wife just informed me the banks are starting to press already for round 3 because their customers are not going to make it.
[Reply]
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