U.S. unemployment rate will get worse, Treasury's Mnuchin says

[Sujo]

2 minutes ago, Isaan sailor said:

Absolutely right.  NYC will have the toughest time with |Wuhan virus, due to its human density.  Too bad the mayor and his administration were late to the lockdown.  They invited New Yorkers to a Chinatown celebration in February.

Admission:  I love NY, and will continue to visit...

Deven Nunes also told everyone to to restaurants and enjoy. Trump said it was all under control and was a hoax. But i understand you, was silly to believe the president.

[Cryingdick]

4 minutes ago, Sujo said:

Deven Nunes also told everyone to to restaurants and enjoy. Trump said it was all under control and was a hoax. But i understand you, was silly to believe the president.

 

I went to Chinatown with Pelosi and ate dim sum and then straight back to her Subzero for some elitist ice cream. Whatever this is all backwards thinking. How would you make NYC work with a downgrade on your credit rating to junk, and 20% of your tax revenue? 

 

Thats the question. You interested in buying some federally tax exempt municipal bonds?

 

Edited May 11, 2020 by Cryingdick

[Mama Noodle]

4 minutes ago, Sujo said:

Low unemployment, trump is the best ever.

high unemployment, but but but the states and hillary.

 

Derp. 

[Chomper Higgot]

23 minutes ago, Mama Noodle said:

 

Better learn to code then I guess. 

You do know that most ‘coding’ work has been ‘off-shored’? 

 

 

[Chomper Higgot]

18 minutes ago, Cryingdick said:

 

Right and they would have eventually failed on their own. It happens everyday. But the massive scale this will happen on is beyond belief. You sound like a Libertarian now.

 

90% of the restaurant industry that thrived is gone, most of it local places. Hotels gone, casinos gone, airlines gone. 

 

Others thrive and are going to aggressively take that market share. Amazon for example is going to be your food, consumer staples, cloud service and healthcare provider in the near future. They will offer their own banking facilities and already have financing. 

 

This is how I make money is knowing these things. I am somewhat surprised to hear you now say everybody else was on the rocks. Twilio for example exploded because they offer an app that texts you when Uber is there. Now it will be when you wait in your car for a haircut, how many people fit in an elevator, pizza is here. 

 

I am telling you the biggest players will come in and take it all when others were doing just fine. The government will not be able to intervene as tax revenues sink. It is going to go to a state of corporate anarchy unless you let the mom and pops go back and have a remote chance at winning.

 

 

 

 

The way to give the mom and pops/bricks and mortar businesses a fighting chance is to place all businesses on an equally tax footing.

 

As for your predictions on where Amazon are going, you neglect the long and effective US history of breaking up monopolies.

[Cryingdick]

18 minutes ago, Chomper Higgot said:

You do know that most ‘coding’ work has been ‘off-shored’? 

 

 

 

That's funny because my husband works as technical consultant/advanced logistics engineer for Fed Ex. They bring people from India in particular. Almost 90% of the in house tech is foreigners. My husband included. It would be hard to say the word google without wobbling your head involuntarily.

 

It is becoming universally accepted that flying is a dangerous, expensive wast of time and the work at home culture is exploding. In the future maybe jobs will be outsourced this way however one of the great things about that is the candidate with the most merit will win instead of where you are a citizen from. 

 

People from India don't tend to feel sorry for themselves, have yachts to sail their stolen childhoods away and hate anybody with a bit of prosperity

 

Fed Ex: We run the tightest ship in the shipping industry.

Edited May 11, 2020 by Cryingdick

[Chomper Higgot]

2 minutes ago, Cryingdick said:

 

That's funny because my husband works as technical consultant/advanced logistics engineer for Fed Ex. They bring people from India in particular. Almost 90% of the in house tech is foreigners. My husband included.

Ask your husband where the bulk of the ‘coding’ (most likely configuration) is being done.

 

The control systems for which I am and have been the lead design engineer are almost entirely coded/configured in India and Eastern Europe.

 

That’s not about to change.

[Mama Noodle]

23 minutes ago, Chomper Higgot said:

You do know that most ‘coding’ work has been ‘off-shored’? 

 

????

 

Biden tells coal miners to "learn to code"

 

Quote

During a rally yesterday, Democratic presidential candidate Joe Biden spoke to a crowd in Derry, N.H., a town that many miners call home. He acknowledged the economic setbacks and job insecurity that coal miners face these days, and gave them some advice: learn to code.

 

According to Dave Weigel of the Washington Post, Biden said, “Anybody who can go down 3,000 feet in a mine can sure as hell learn to program as well... Anybody who can throw coal into a furnace can learn how to program, for God’s sake!” 

 

According to Weigel, the comment was met with silence from the audience. 

https://thehill.com/changing-america/enrichment/education/476391-biden-tells-coal-miners-to-learn-to-code

[Cryingdick]

3 minutes ago, Chomper Higgot said:

Ask your husband where the bulk of the ‘coding’ (most likely configuration) is being done.

 

The control systems for which I am and have been the lead design engineer are almost entirely coded/configured in India and Eastern Europe.

 

That’s not about to change.

 

They do their trade secret coding and proprietary structures on a mainframe not connected to the internet using really old operating systems. All code sourced outside of a place with particular security clearance is scrutinized byte by byte. What your are saying isn't allowed at that level that's why companies like Okta, Crowdstrike and RingCentral are swollen so much now 

 

I know some of this because my husband works from home for one of the largest logistics companies in the world. They had many problems just working remotely here they don't send their data through China. At least not anymore. LOL

 

 

 

[Chomper Higgot]

7 minutes ago, Cryingdick said:

 

They do their trade secret coding and proprietary structures on a mainframe not connected to the internet using really old operating systems. All code sourced outside of a place with particular security clearance is scrutinized byte by byte. What your are saying isn't allowed at that level that's why companies like Okta, Crowdstrike and RingCentral are swollen so much now 

 

I know some of this because my husband works from home for one of the largest logistics companies in the world. They had many problems just working remotely here they don't send their data through China. At least not anymore. LOL

 

 

 

I said ‘most’ not ‘all’.

 

The small amount of sensitive coding does not create the number of jobs required to perform the bulk of coding.

 

Coding is not in and of itself going to fill the millions of lost jobs.

[Srikcir]

I'm waiting for the White House to spin a counter to projected higher unemployment by predicting that the higher monthly death rate actually helps save the economy as the unemployed die. 

[Cryingdick]

5 minutes ago, Chomper Higgot said:

I said ‘most’ not ‘all’.

 

The small amount of sensitive coding does not create the number of jobs required to perform the bulk of coding.

 

Coding is not in and of itself going to fill the millions of lost jobs.

 

The bulk of bad coding is what my husband condenses down through security protocols to make using of anything from a foreign country even viable. But nothing gets inside without his say, soon most cases you just use a library of stored code with in the mainframe and don't add much to it because it have to be vetted.

 

You can see because it is Fed Ex there are many sources of expertise involved. Letting low quality workers into your inner core is not one of them. Nor is outsourcing for no apparent reason to save $5.

 

It doesn't happen at Apple or Google, Amazon etc. These companies have the best budgets for good people and resort to poaching the best minds from each other 

Edited May 11, 2020 by Cryingdick

[pegman]

2 hours ago, Cryingdick said:

 

It used to contribute more... The only good thing to come out of NYC is Donald Trump. 

Well Dick, NYC aren't crying he's gone and they know him best. Even statewide he is trailing Biden by up to thirty six pts.

 

https://www.realclearpolitics.com/epolls/2020/president/ny/new_york_trump_vs_biden-7040.html

[wwest5829]

4 hours ago, Mama Noodle said:

 

All they need to do is file bankruptcy and/or get in line with federal law. Using the virus and lockdowns as leverage to bail out decades long debt while openly flaunting federal law is wrong. 

 

These states can see themselves going under fiscally, yet 100% refuse to align themselves with and budget within their means. 

 

I hope they do get refused bailout money unless they wind their spending in, inline with their incomes, remove sanctuary city status, and follow federal law. 

Choice posting. Stay within their balanced budget like Congress? Na, cut taxes for the wealthy/corporations, increase "defense" spending ... all on borrowed money ... borrowing is the only spending many unemployed working middle class have right now.

[malibukid]

brother can you spare a dollar

[PatOngo]

6 hours ago, webfact said:

But, Mnuchin said the federal government did not want to bail out states that were "poorly" managed.

It would appear the entire establishment is being mismanaged! Keep breaking those historic records, Donzo!

[J Town]

6 hours ago, webfact said:

The White House is pushing for a payroll tax cut, he added.

This is code for killing Social Security.

[Eric Loh]

6 hours ago, webfact said:

The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday.

Not only due to the lockdowns but also the crazy trade wars that will only hurt US. The Phase 1 of the trade deal is not holding up and are hurting the agriculture sector hard and wouldn't be coming back for a long while. The disruption of supply chain will meant a long period of adjustments that will affect the operations of companies. Inflation will kick in with expected higher prices from tariffs and supply shortages. Cutting payroll tax is ripping bare the wounds of struggling poor and middle class.

[metisdead]

Some off topic posts, troll posts and the replies have been removed. 

[spidermike007]

How on earth was this guy selected for this job? This is true BOB (bottom of the barrel) recruiting. 

 

DUH! A six year old could have told us unemployment would get worse. We need this guy for that? The guy who evicted thousands of grandparents from their homes because they were two months late on their mortgage during the last financial crisis. An ethically bankrupt man, would be a kind description of him. 

[WalkingOrders]

8 hours ago, Bluespunk said:

Playing politics with the pandemic. That’s low,,,

Mnuchin simply states the truth. As for politics, this weeks developments are almost the final nail in Dem coffin. As I was saying before the 21 day vacation imposed upon me, and months before that, the Democrat party of the USA will not survive 2020! Welcome me back!!!

[WalkingOrders]

2 hours ago, spidermike007 said:

How on earth was this guy selected for this job? This is true BOB (bottom of the barrel) recruiting. 

 

DUH! A six year old could have told us unemployment would get worse. We need this guy for that? The guy who evicted thousands of grandparents from their homes because they were two months late on their mortgage during the last financial crisis. An ethically bankrupt man, would be a kind description of him. 

He is sharp as a tack. And had the results, and will get them back again. Root for his success, it's in your best interest!

[WalkingOrders]

3 hours ago, Eric Loh said:

Not only due to the lockdowns but also the crazy trade wars that will only hurt US. The Phase 1 of the trade deal is not holding up and are hurting the agriculture sector hard and wouldn't be coming back for a long while. The disruption of supply chain will meant a long period of adjustments that will affect the operations of companies. Inflation will kick in with expected higher prices from tariffs and supply shortages. Cutting payroll tax is ripping bare the wounds of struggling poor and middle class.

Crazy trade war? China better get their act together. Their about to get reset backward!

[earlinclaifornia]

8 hours ago, pegman said:

Well Dick, your crying about New York but it contributes more to the Feds than it gets back. A place like deep red S. Carolina on the other hand take back nearly $8 for every $1 they contribute. That's a lot of sucking by ole Lindsey.

 

https://www.theatlantic.com/business/archive/2014/05/which-states-are-givers-and-which-are-takers/361668/

Crying's WV, a very deep red, is the tenth. What does that say!

[candide]

8 hours ago, pegman said:

Well Dick, your crying about New York but it contributes more to the Feds than it gets back. A place like deep red S. Carolina on the other hand take back nearly $8 for every $1 they contribute. That's a lot of sucking by ole Lindsey.

 

https://www.theatlantic.com/business/archive/2014/05/which-states-are-givers-and-which-are-takers/361668/

Exactly. V

"If you listen to Rush Limbaugh, you might think it was those blue states, packed with damn hippie socialist liberals, sipping their lattes and providing free abortions for bored, horny teenagers.

The truth? Not so fast, Michele Bachmann.

As it turns out, it is red states that are overwhelmingly the Welfare Queen States. Yes, that's right. Red States — the ones governed by folks who think government is too big and spending needs to be cut — are a net drain on the economy, taking in more federal spending than they pay out in federal taxes. They talk a good game, but stick Blue States with the bill."

http://www.businessinsider.com/red-states-are-welfare-queens-2011-8#!IpqnG

 

[Bluespunk]

18 minutes ago, WalkingOrders said:

Mnuchin simply states the truth. As for politics, this weeks developments are almost the final nail in Dem coffin. As I was saying before the 21 day vacation imposed upon me, and months before that, the Democrat party of the USA will not survive 2020! Welcome me back!!!

No, he’s playing politics. 

[earlinclaifornia]

12 minutes ago, candide said:

Exactly. V

"If you listen to Rush Limbaugh, you might think it was those blue states, packed with damn hippie socialist liberals, sipping their lattes and providing free abortions for bored, horny teenagers.

The truth? Not so fast, Michele Bachmann.

As it turns out, it is red states that are overwhelmingly the Welfare Queen States. Yes, that's right. Red States — the ones governed by folks who think government is too big and spending needs to be cut — are a net drain on the economy, taking in more federal spending than they pay out in federal taxes. They talk a good game, but stick Blue States with the bill."

http://www.businessinsider.com/red-states-are-welfare-queens-2011-8#!IpqnG

 

Again, WV top five!

[Bluespunk]

27 minutes ago, earlinclaifornia said:

Crying's WV, a very deep red, is the tenth. What does that say!

Everything

[Eric Loh]

42 minutes ago, WalkingOrders said:

Crazy trade war? China better get their act together. Their about to get reset backward!

Agree that crazy was the wrong word. It should be madness. Madness because it started with a carefully calibrated trade weapon to rebalance the relationship and ended with uncoordinated unpredictable and non-calculated personal tit-for-tat tiff with China that harm US consumers and throw the supply chains into disarray. It is madness when one man's impetuous has confounded attempts at strategy. It is a madness of a President caught between his instincts as a self proclaimed "dealmaker" trying a make his place in history and a contentious band of aides goading him into more radical actions. 

[spidermike007]

1 hour ago, WalkingOrders said:

He is sharp as a tack. And had the results, and will get them back again. Root for his success, it's in your best interest!

A Mnuchin definition of success would be to take over another bank for $1, and evict another 5,000 grandparents from their homes of 50 years. That is who this man is.