Jump to content

How Long Will The Recession/Depression Last?

BFritz

By BFritz
in Controversial Issues

 Share

Recommended Posts

  • Replies 160
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Days

rjs4470

rjs4470

Posted
Posted
If anyone is struggling with rent/mortgage call your lender. Do not sit on it, they are expecting people to call and ask for help, or forbearance.

 

Many lenders are offering a 3 month suspension with no late fees, and just tacking the 3 payments onto the end of the loan. Student loans have also been suspended with no penalty. Like you say, though, you need to ask if you need help. Sooner than later.

Link to comment
Share on other sites
Voice of Reason

Voice of Reason

Posted
Posted (edited)

New jobless claims 6.65 million. For context, last week's 3.28 million new claims shattered the previous record, which was a little less than 700,000. Ongoing claims over 3 million.

 

Bigger numbers than expected, but who really knows what to expect in this situation. With all the support added into the system, who knows what impact this has on the economy. It is all about when we begin the restart.

Edited by Voice of Reason
Link to comment
Share on other sites
rjs4470

rjs4470

Posted
Posted
Said they have fired all employees, so I would have to think this is permanent closure.

 

Their parent company went into bankruptcy in early March, right before the country started to shut down. Craftworks (the parent company) also owns the Old Chicago chain (which was pretty good). Apparently last week, the Bankruptcy courts fired the CEO and CFO for paying $7 million in Sales tax without authorization, so they have no leader. The employees were fired and have no access to Cobra. They are hoping to restart, but even if they do, over half the stores will probably remain closed for good.

Link to comment
Share on other sites
LIPTON BASH

LIPTON BASH

Posted
Posted
We have to take care of our people now. When things settle down, though, I am expecting a big tax increase to help right the economic ship. That's OK, though.

 

I don't understand the economic sense of taxing your way out of a recession when you are trying to create jobs in the private sector.

Link to comment
Share on other sites
LIPTON BASH

LIPTON BASH

Posted
Posted (edited)

The 30% UE numbers in my opinion comes from some faulty data , even if some of the economist are people I respect . I just disagree on the interpretation. The key factor will surround the Small Business loan program and owner's understanding of the program. Most small businesses should survive as long as they are savvy and act promptly.

Edited by LIPTON BASH
Link to comment
Share on other sites
bugatti

bugatti

Posted
Posted
The 30% UE numbers in my opinion comes from some faulty data , even if some of the economist are people I respect . I just disagree on the interpretation. The key factor will surround the Small Business loan program and owner's understanding of the program. Most small businesses should survive as long as they are savvy and act promptly.

These programs will help. But aren't a lot of those programs based upon keeping a full work staff up and going? When you are told to shut down there is no business to conduct.

Link to comment
Share on other sites
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.


×
×
  • Create New...

Important Information

By using the site you agree to our Privacy Policy and Terms of Use Policies.

  I accept