Beginning of Dow 25,000 Housing Collapse Deep Recession

[harristeeter]

People need to understand there's more pain to come. Goldman just cut their "multiples" going forward 17% from 18 down to 15 and the Fed isn't done raising rates this year. For anyone who actually listened to Fed Chairman Powell's Q/A session Wednesday (I did), you will know things are worse than what everyone has wanted to admit.

 

[atltiger11]

I know some people who used those to start new careers and it completely changed their life.

Anecdotal maybe but some did benefit for the better.

Was going to reply to @Ron Munson but this post is on the same thought train. I really think the cutoff income amounts for the checks was far too high... Should have lowered the income level and/or made someone prove that they lost their job in order to receive the check. Why give someone without a true hardship (already in poverty or lost a job) extra cash?

A household (assuming 2 adults) making $120k / year with no job loss in the pandemic did not need a stimulus. Yet under the guidelines, they received $6,400 in stimulus.

• Stimulus 1 - $2,400
• Stimulus 2 - $1,200
• Stimulus 3 - $2,800
• Total = $6.400

What to Know About All Three Rounds of Coronavirus Stimulus Checks

Three sets of stimulus checks have been issued to eligible recipients as part of the pandemic relief. Each set of payments have been slightly different.

www.pgpf.org

 

[Ron Munson]

Was going to reply to @Ron Munson but this post is on the same thought train. I really think the cutoff income amounts for the checks was far too high... Should have lowered the income level and/or made someone prove that they lost their job in order to receive the check. Why give someone without a true hardship (already in poverty or lost a job) extra cash?

A household (assuming 2 adults) making $120k / year with no job loss in the pandemic did not need a stimulus. Yet under the guidelines, they received $6,400 in stimulus.

• Stimulus 1 - $2,400
• Stimulus 2 - $1,200
• Stimulus 3 - $2,800
• Total = $6.400

What to Know About All Three Rounds of Coronavirus Stimulus Checks

Three sets of stimulus checks have been issued to eligible recipients as part of the pandemic relief. Each set of payments have been slightly different.

www.pgpf.org

You are absolutely right.

The checks should not have been given out at all, but let's assume they were needed. The cut off should have been around 45k for single, 75k for married...or something like that. Absolutely made no sense to send a single person making $75k a check....not to mention most of the people who got the checks were actually better off financially post covid than pre covid since they couldn't spend money on vacations, etc.

Now we have massive inflation because of it (certainly other things drove inflation, like printing money and expanded unemployment)