"Not Our Fault" Covid-19 Economic Aid Package should amount to at least....

Discussion in 'Coronavirus Pandemic Discussions' started by nopartisanbull, Mar 18, 2020.

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  1. nopartisanbull

    nopartisanbull Well-Known Member

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    First, "Not their fault" economic aid packages;

    1. UK economic aid package;

    a. $39 billion direct assistance, mainly to businesses, unemployed, public health
    b. $398 billion of government-backed loans and guarantees

    https://www.theguardian.pe.ca/busin...n-to-protect-economy-from-coronavirus-422164/
    https://www.cnbc.com/2020/03/17/uk-announces-massive-aid-package-for-coronavirus-hit-industries.html

    2. Canada economic aid package;

    a. $27 billion direct support to workers and businesses
    b. $55 billion in tax deferrals

    https://www.nydailynews.com/news/wo...0200318-vilfl2b4wza7rjxv4m4neupaei-story.html

    3. EU economic aid package;

    a. EU to present Covid-19 economic aid package Friday
    https://newsdiaryonline.com/eu-to-present-covid-19-economic-aid-package-friday/

    ---------------------

    Thus, Uncle Sam's economic aid package should amount to at least?

    IMO, $750 billion

    Discuss
     
  2. Andrew Jackson

    Andrew Jackson Well-Known Member

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    The USA?

    To really do it Correctly?

    Between $4 Trillion and $5 Trillion.
     
    Last edited: Mar 18, 2020
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  3. ConcernedEnglishman

    ConcernedEnglishman Active Member

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    With all due respect the unemployed shouldn't be first priority in the UK, it's the employed that should be worried!
     
  4. Talon

    Talon Well-Known Member Past Donor

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    I'm curious what you're basing your guesstimate on.

    I hope it's based on America's specific needs and not what other countries are spending...
     
    Last edited: Mar 18, 2020
  5. FlamingLib

    FlamingLib Well-Known Member

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    Yeah, we're not going to go big enough. It's great that HUD stopped evictions, but I don't see that as the only huge problem. A lot of homeowners by now have significant equity. If I was afraid about my job, I would sell my house and either downsize or rent. I think we'll see a lot of houses go on the market without any buyers. Who's going to buy a house right now? But people need money right now and a $2,000 check from the government, for a family used to seeing $5,000 a month, is an ominous sign of things to come.
     
    Last edited: Mar 18, 2020
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  6. ronv

    ronv Well-Known Member

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    Yep. They are about to start chasing problems around just like they are doing with the virus.
    To prevent the crash you give enough to those that lose there jobs to continue to pay their bills no matter what they are. That's probably going to be 2 trillion for 20% unemployment.
     

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