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When do you think unemployment checks are gonna start bouncing?
2020 Apr 3, 6:11am 290 views 1 comments
I don't know about your state, but in Arizona we have about $1.1 billion set aside in our unemployment fund. We had about 28k claims for the week ending 3/21, about 89k last week, and forecasted at 100k this week. Figure it will level off at that rate for the next 4 weeks for another 400k unemployed. Now Arizona is one of the stingiest states for unemployment (max payment per week of $240), but even so it means the fund will run out of money in a couple of extra months. Then it'll need to borrow from the feds to meet its unemployment obligations.
2020 Apr 3, 7:33am
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That’s what’s going to happen. The Fed will get the money by printing more.
I keep getting in arguments with people on line and in person m. I keep saying the virus will have largely run its course by the end of April and stay at home orders will end in mid May. People apparently think I’m nuts and believe the stay at home orders go on through the summer at least. I don’t know what they are basing that on since even Newsome and Garcetti have this thing peaking in April or May.
I don’t think these idiots really understand what they are saying. They are basically wishing and hoping for total economic collapse. Wookie is right that far more people will die in that scenario(and it’s not just suicides...basic services will shut down) than from the Wuhan virus.
one year ago