Investing General Discussion

Furry said:

Unemployment is over 10% now. Two more weeks at this rate and it will be about 20%.

A huge amount of americans are paycheck to paycheck. Money situation for the average joe is going to be ugly by the end of this month if it keeps up.

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Why? The average Joe is making more on unemployment than their kitchen cook or bus driver job.

Khane said:

Those unemployment benefits end. The argument that the majority of Americans are just going to stay home from now on and "live the good life" is a very short sighted one. Unless we're all under the impression the Fed is going to release a new 2T "stimulus" package every month from now until the end of time.

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Even in Florida, which is like the 4th lowest benefit in the country, its $275 a week + a extra $600 a week until July 31st. The governor is pushing to make it retroactive to when you lost your job since the system is overloaded.

So yeah all those short order cooks are going to be bringing in 4k+ a month until mid summer. No one is going hungry or on the street. People I know are WANTING to be furloughed for a few months. All the airlines are telling their employees they will NOT contest unemployment and is encouraging them to apply, even for reduced hours (which is allowed).

What I am seeing is a few months paid vacation. Are we going to stay on "lockdown" past July31st? If yes, then watch Trump extend the free 600+ a week trumpbucks. If not, then everyone will be well rested and fat from ordering a bunch of takeout with those 1k+ a week unemployment checks. (actually places like New York will be far more than 1k a week)

So, the unemployment numbers are meaningless, at least till end of summer.

Furry said:

I was gonna use my states calculator to verify if this was true or not here, but this is what I ended up seeing. This is to calculate my benefits, not even fucking apply.

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Over 4200 a month for Texas until July 31st, not bad. Ignore the last 4 columns. It just showing that for this particular Airline, a Flight Attendant with less than 10 years seniority would make MORE on UI than working what is considered a full time schedule at this major airline. Hilariously some states, like WA and Mass. you'd make more sitting home on UI than working even at top of the pay scale.

So yeah, and this is a fairly well paying job that tops out at 65ish dollars a hour. Now imagine this chart with bus drivers and cooks.... Thank you Trump.

Furry said:

I get it. 600$/week boost in unemployment payouts while it lasts.

That's going to cost the gov a shitload of bucks.

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its just paper... lol

Don't worry we will force feed the rest of the world our paper and everything will be right as rain.

Anyways, this is why unemployment #s don't mean shit right now.