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Nearly 10 Million Filed For Unemployment In Last 2 Weeks

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posted on Apr, 3 2020 @ 04:02 AM
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a reply to: booyakasha



Betcha a dollar it's not.💵



posted on Apr, 3 2020 @ 04:13 AM
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a reply to: Generation9
The owners of small businesses do not have the cash to pay people when the business is shut down. At most they can float a month or two as most pay rent in the building they have their business in. And vendors still want to be paid.
The banks are supposed to be providing low interest or even interest free loans to small businesses but there seems to be some red tape or lack of guidance as to how to get them out.
They were supposed to start those loans today but nobody is getting any money today because no one knows WTF is going on.
Banks are closed except some drive throughs. You're not applying for a business loan from your car. And even if you could the banks are not taking applications because they are not clear on the insurance for them.

edit on 432020 by Sillyolme because: (no reason given)



posted on Apr, 3 2020 @ 04:14 AM
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originally posted by: booyakasha

originally posted by: Generation9
People don't even understand how this bailout for small business employees is supposed to work. They've never owned a business and they don't operate their personal finances like a business, which is what it is. A lot of people need a beginner's course like what Dave Ramsey teaches. How many people have six months of living expenses in a money market account? You should be able to live at least six months maintaining your current lifestyle with zero income. For retirement you need income streams coming every month also because at that point you have zero income from active work. People don't think about this correctly. If at all.

I own a restaurant.
And you have no clue what you are talking about.

we had to shut down because even a week before the quarantine business died by 3/4. You have absolutely no clue how small business runs. Most restaurants resort to selling drugs illegally to get by because taxes are so #ing high. No #ing way I'm going to keep paying my employees out of my pocket when they aren't even working.
We ran business for 8 years without going into debt and paying everyone on time every every week. without doing anything illegal.

We would need to drop 20 grand just to stay in business not including payroll. No possible way i would gamble on that considering this virus could shut us down for 4 more months. Want us to keep paying employees out of our pocket for 6 months.
you're delusional.


I actually do have a clue. And you're tapped out if you didn't have the money to keep the business afloat. Trump's SBA bailout plan would have given you all your money back if you had kept your employees on the payroll. This is why I posted about business being well capitalized with retained earnings or the ownership being able to inject capital. All of that would have been paid back to you.

But I understand some business runs real close to break even and can often continue for years like that. It worked for you while it lasted, but you got forced out by this situation. I'm sorry to hear that, but it is the truth. I wish you luck in your next endeavor.

I added this: I've been in the situation in which I was an owner and I was making the same as the workers. It wasn't a very good "owner" situation at all. Sometimes it is difficult to realize that a business is not doing very well as we hope and work for our dreams. The fact is that you will be able to make just as much working for somebody else on their payroll as you continue to make plans and work toward your dreams of owning a business that really hits it and makes much more profit for you the owner. This is why the workers get paid less than the owners and usually much less. The owner is taking on a lot of responsibility and deserves to be making a rather sizable profit to weather any storm (or virus if it might be) and keep not only his business going but keep his workers going as well. This is the charge of an owner... to treat the workers properly and with respect. So many owners just crap on the workers and milk the business dry.

edit on 3-4-2020 by Generation9 because: more stuff



posted on Apr, 3 2020 @ 04:31 AM
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originally posted by: Sillyolme
a reply to: Generation9
The owners of small businesses do not have the cash to pay people when the business is shut down. At most they can float a month or two as most pay rent in the building they have their business in. And vendors still want to be paid.
The banks are supposed to be providing low interest or even interest free loans to small businesses but there seems to be some red tape or lack of guidance as to how to get them out.
They were supposed to start those loans today but nobody is getting any money today because no one knows WTF is going on.
Banks are closed except some drive throughs. You're not applying for a business loan from your car. And even if you could the banks are not taking applications because they are not clear on the insurance for them.


Sure. This is a huge learning experience. It is a bad experience for many. So many small businesses just get by. Or the owners take the profits and spend it away instead of retaining the earnings in the business account, or at least holding the money themselves in their personal money market account. Owners can always inject cash into their business if necessary. Many owners work like crazy only to make meager amounts that they probably could have made on somebody else's payroll. It the truth. I know about these situations. One needs to be honest about one's business. You know the business environment can change. It often does. Businesses start and stop. Business people go on to open other businesses.

The truth is that some businesses actively grow their cash account and keep it in the war chest for just such situations as we are all experiencing currently. Each of us has a business, our own lives, that we should run in a similar fashion. Everyone needs to be actively building savings. Farmers deal with good weather and bad weather all the time. Farmers know they need to be well capitalized. They can't be running on the hairy edge. I hear about businesses borrowing to make payroll. Insane!

Look at larger business that keep hundreds of millions in cash on hand. Doesn't Apple keep billions in cash accounts? Each of us can keep our own personal or business cash accounts. Seems like most people these days chase after toys and have the money spent before they even get it.

I'm sorry for anybody struggling. Keep going. Trump did. Trump went bust many times. Keep going. Stay strong.



posted on Apr, 3 2020 @ 04:39 AM
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a reply to: ruckus49




Once they deem that their businesses can't take it anymore, I think they will start reducing virus coverage to calm the hysteria.



Still clinging on to the idea this will just all go away eh, there's no calming of the masses even if now they do report it so.

The stigma of this will persist.
edit on 3-4-2020 by hopenotfeariswhatweneed because: (no reason given)



posted on Apr, 3 2020 @ 07:05 AM
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originally posted by: Generation9
People don't even understand how this bailout for small business employees is supposed to work. They've never owned a business and they don't operate their personal finances like a business, which is what it is. A lot of people need a beginner's course like what Dave Ramsey teaches. How many people have six months of living expenses in a money market account? You should be able to live at least six months maintaining your current lifestyle with zero income. For retirement you need income streams coming every month also because at that point you have zero income from active work. People don't think about this correctly. If at all.


Let me explain how this small business bailout is supposed to "work" -

1. The Fed caves under pressure by banks to raise the interest of an SBA loan from %0.50 to %1.00
2. The banks get bailed out by the Fed using the taxpayers future money as the source
3. The banks use the taxpayer given to them by the Fed to use as money for loans at %1.00 to the people. The same people whose money the banks got for free, now have to pay a 1% interest on it.

Don't give us a lecture on personal savings and somehow shoehorn it into running a small business.

Also, successful businesses know the value of good employees and I'm sure they hate to let them go, but when there is no revenue coming in, are you expecting small business owners to martyr themselves and their family's future over this?



Trump is asking small business owners to pony up the money up front and then get full reimbursement on the back end with a "loan" that would be forgiven.


Who in their right mind would put their family's future on the line for a gamble like that? Someone who has no business being a business owner, that's for sure.



posted on Apr, 3 2020 @ 07:09 AM
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originally posted by: Generation9
Trump's SBA bailout plan would have given you all your money back if you had kept your employees on the payroll.


No it doesn't. It's a finite amount of money with a potential 8 week forgiveness.

Additionally, the application period began today so if someone's restaurant was shutdown for a month already they are already in a deep hole and all they're doing is borrowing money to float their employees, there is no guarantee that providing takeout and/or delivery will cover the repayment amount when it comes due.




edit on 3-4-2020 by AugustusMasonicus because: networkdude has no beer but he does have Corona



posted on Apr, 3 2020 @ 07:10 AM
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a reply to: underwerks

Commie. Tying jobs to insurance is how we keep the pigs in the pen. Desperate workers make obedient slaves.



posted on Apr, 3 2020 @ 11:42 AM
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a reply to: hopenotfeariswhatweneed




Still clinging on to the idea this will just all go away eh, there's no calming of the masses even if now they do report it so.

The stigma of this will persist.


i'm not clinging onto it, i think its a possibility. perception is reality
edit on 3-4-2020 by ruckus49 because: added quote



posted on Apr, 4 2020 @ 09:45 PM
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This doesn't look good.....


twitter.com...



posted on Apr, 4 2020 @ 09:57 PM
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originally posted by: Sillyolme
a reply to: Generation9
The owners of small businesses do not have the cash to pay people when the business is shut down. At most they can float a month or two as most pay rent in the building they have their business in. And vendors still want to be paid.
The banks are supposed to be providing low interest or even interest free loans to small businesses but there seems to be some red tape or lack of guidance as to how to get them out.
They were supposed to start those loans today but nobody is getting any money today because no one knows WTF is going on.
Banks are closed except some drive throughs. You're not applying for a business loan from your car. And even if you could the banks are not taking applications because they are not clear on the insurance for them.


You cant do things online, over the phone or through zoom?...

Trumps fault I assume?

Lolz🤪



posted on Apr, 5 2020 @ 01:21 AM
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originally posted by: Scepticaldem

originally posted by: Sillyolme
a reply to: Generation9
The owners of small businesses do not have the cash to pay people when the business is shut down. At most they can float a month or two as most pay rent in the building they have their business in. And vendors still want to be paid.
The banks are supposed to be providing low interest or even interest free loans to small businesses but there seems to be some red tape or lack of guidance as to how to get them out.
They were supposed to start those loans today but nobody is getting any money today because no one knows WTF is going on.
Banks are closed except some drive throughs. You're not applying for a business loan from your car. And even if you could the banks are not taking applications because they are not clear on the insurance for them.


You cant do things online, over the phone or through zoom?...

Trumps fault I assume?

Lolz🤪
Let me know when people can perform the service of cleaning carpets over the internet.




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