The 2000 dollar stimulus check is in the works

hollydolly said:
thanks Pepper....so it's far more sensible for an American to visit Canada than the other way around... (y)
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I had always found that true except for Britain. When I started visiting your continent a pound was worth $2.50 American; German mark was 4=$1. American.

Now, a British pound worth $1. 36 American. Less but still more.

Whenever I traveled, before I got into my destination, I would always commit what currency is worth to memory. Never had to think or calculate about it; knew it.
 

Aneeda72 said:
The treasury @hollydolly does not have the money in the way you mean. The USA is deeply in debt. I wish I had more education so I could explain it better. It’s like you run up the full amount on a credit card. Then you get another credit card and get a cash advance on that credit.

With that cash advance, you make payments on the charged up credit card and you buy stuff on the credit. Once that credit card is full, and you are out of money, you get another credit card, get a cash advance, and make payment on both of the other credit cards, and charge more.

Rinse repeat repeated, but credit card money is not “real” money if virtual money. Just like bit coins are not real money, they are virtual money. Of course, you have a real job, (taxes in the case of the USA).

But you overspend so then you use your credit (in the case of the USA you borrow money from other programs, and other nations) to meet your bills. Individuals have yard sells to get more money. The USA has sells also. Old military equipment, land we own in other countries such as no longer used military bases etc.

In the end, money is just paper. We have lots of trees, which make lots of paper, which makes lots of money. If people spend the money, then more businesses will pay taxes, then the treasury gets more money, etc. until the system overloads as it did in the Great Depression a d we all start over again.
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So, that's called Quantitative easing .

In which case as a country you're teetering on the brink of bankruptcy and hyper inflation... you could be paying a £100 dollars for a pint of milk next year..potentially :oops:
 
Aneeda72 said:
The treasury @hollydolly does not have the money in the way you mean. The USA is deeply in debt. I wish I had more education so I could explain it better. It’s like you run up the full amount on a credit card. Then you get another credit card and get a cash advance on that credit.

With that cash advance, you make payments on the charged up credit card and you buy stuff on the credit. Once that credit card is full, and you are out of money, you get another credit card, get a cash advance, and make payment on both of the other credit cards, and charge more.

Rinse repeat repeat, but credit card money is not “real” money it is virtual money. Just like bit coins are not real money, they are virtual money. Of course, you have a real job, (taxes in the case of the USA).

But you overspend so then you use your credit (in the case of the USA you borrow money from other programs, and other nations) to meet your bills. Individuals have yard sales to get more money. The USA has sales also. Old military equipment, land we own in other countries such as no longer used military bases etc.

In the end, money is just paper. We have lots of trees, which make lots of paper, which makes lots of money. If people spend the money, then more businesses will pay taxes, then the treasury gets more money, etc. until the system overloads as it did in the Great Depression a d we all start over again.
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That's actually an excellent explanation, Aneeda.
 
Took a wheelbarrow of marks to buy bread in Germany after WWI................leading to "Let's Blame Someone & Kill Them."
 
But @hollydolly the problem is when we go so does the rest of the world. Which is why other countries have a vested interest in keeping us afloat, which is why we can get loans from other countries like China. China is heavily invested in the USA. It’s a small small world.
 
Aneeda72 said:
But @hollydolly the problem is when we go so does the rest of the world. Which is why other countries have a vested interest in keeping us afloat, which is why we can get loans from other countries like China. China is heavily invested in the USA. It’s a small small world.
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I can't see how America's hyperinflation would affect us or any other western country tbh.. yes we trade with you but if anything, it would be favourable to us ....

The countries listed below were experiencing the highest rates of inflation in the world in 2017 according to data from the IMF. Top of the pile was Venezuela which is suffering from hyper-inflation, collapsing output and a steep increase in extreme poverty. The social fabric of the country is deteriorating fast and there is a significant brain drain of people looking for a better life for themselves and their families.
Country (annual rate of inflation in 2017 in percent)
  • Venezuela 1,087%
  • South Sudan 187%
  • Democratic Republic of the Congo 41%
  • Sudan 32%
  • Angola 29%
  • Libya 28%
  • Argentina 25%
  • Yemen 24%
  • Egypt 23%
  • Suriname 22%
  • Nigeria 16.5%
  • Mozambique 15%
  • Haiti 14%
  • Ukraine 14%
  • Azerbaijan 13%
  • Uzbekistan 12%
  • Ghana 12%

None of the above countries who are currently suffering huyperinflation affect us....


..and this latest...

The United States Is Going Into Hyperinflation​


https://seekingalpha.com/article/4371490-united-states-is-going-hyperinflation
 
hollydolly said:
I can't see how America's hyperinflation would affect us or any other western country tbh.. yes we trade with you but if anything, it would be favourable to us ....

The countries listed below were experiencing the highest rates of inflation in the world in 2017 according to data from the IMF. Top of the pile was Venezuela which is suffering from hyper-inflation, collapsing output and a steep increase in extreme poverty. The social fabric of the country is deteriorating fast and there is a significant brain drain of people looking for a better life for themselves and their families.
Country (annual rate of inflation in 2017 in percent)
  • Venezuela 1,087%
  • South Sudan 187%
  • Democratic Republic of the Congo 41%
  • Sudan 32%
  • Angola 29%
  • Libya 28%
  • Argentina 25%
  • Yemen 24%
  • Egypt 23%
  • Suriname 22%
  • Nigeria 16.5%
  • Mozambique 15%
  • Haiti 14%
  • Ukraine 14%
  • Azerbaijan 13%
  • Uzbekistan 12%
  • Ghana 12%

None of the above countries who are currently suffering huyperinflation affect us....


..and this latest...

The United States Is Going Into Hyperinflation​


https://seekingalpha.com/article/4371490-united-states-is-going-hyperinflation
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@hollydolly i was simply explaining to you, as best I could, how it works here. I am not interested in others countries finances and I am not really interested in my country’s finances. I don’t have the education to understand any of it in great detail and I don’t worry about it.

I only know what I explained to you because this is the way that approximately 80% of Americans live their lives. Although it could be more or less. We rob Peter to pay Paul. We live on credit. We talk, talk, talk and do nothing. We survived the Great Depression in the past and if there is another Great Depression we will survive it or not.

I, personally, think another Great Depression will occur unless we start taxing and collecting a great deal of money from big businesses. I think some banks and credit unions will start to fail in the not too near future. I think the efforts to defeat the virus will fail unless Marshall law is declared and people comply with the CDC recommendations, and vaccines are given.

I think I should stop talking now as this is off the subject of the thread. This is all my opinion. I hope I am wrong. 😳
 
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Aneeda72 said:
@hollydolly i was simply explaining to you, as best I could, how it works here. I am not interested in others countries finances and I am not really interested in my country’s finances. I don’t have the education to understand any of it in great detail and I don’t worry about it.
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You understand more than you give yourself credit for. Straight forward easy to understand explanation of the downward direction America is going relative to paying for debt. The combination of internal & external debt & the inability to service the debt is growing. The debt isn't bad per se it's when you can't pay as you pointed out in your credit card analogy that America will degrade.

BUT meanwhile the older we are the less we have to be concerned with suffering the consequences of paying for the government federal & local spending. Well maybe not local since moving to a tax free haven isn't in the cards for most.
 
hollydolly said:
No Chic... we're not getting them here., or anything even remotely like it
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@hollydolly, Are you still working? I'm not able to due to the mandatory mask law so things have been pretty bad here since March. And we have food lines here too and worse, people shoplifting food. I thought the U.K. was helping their citizens through this time financially. How else can people survive?
 
I understood that the second stimulus check will be only for the people who had there stores and restaurants, beauty shops , etc.. vandalized.. i think that amount will be for $2,000 dollars. , even that is not much... hope it will be more for them,,
i already got my stimulus check , came direct to my savings acc.. not by snail mail..
 
chic said:
@hollydolly, Are you still working? I'm not able to due to the mandatory mask law so things have been pretty bad here since March. And we have food lines here too and worse, people shoplifting food. I thought the U.K. was helping their citizens through this time financially. How else can people survive?
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Chic, I retired 3 years ago at 62 ..my husband still works full time,. ( he's 60) Many thousands of people have been laid off here since March, which means they are unemployed and only entitled to unemployment benfits , and many also have been placed on furlough by their employers .. which means that the government will pay up to 80% of an employees wage up to a maximum of £2,500 per month, while the company cannot allow their employess to work from the company buildings , and have to work from home.. employers will pay 20 % to their employess in the forms of NIC's, and pension contributions, and of course any hours worked.
.
However, there's a huge problem with this too, because many of the companies who have had to furlough their employess are small businesses, and are paying salaries to those furloughed, yet having no income coming into the business... A friend of mine who has a small cafe has to pay her 2 staff £800 per month.. on furlough, as well as her rent for the cafe... yet she doesn't have a penny income coming in... and this is replicated throughout the whole of the UK ! ...and what I've explained here is the tip of the iceberg...

Food banks are overwhelmed here with requests for food.. more than ever in their history

I'm sorry to hear you can't work Chic. are you furloughed from work and being paid while at home ?... or have you lost your job?.. are you claiming unemployment benefits ?... Unemployment benefits for single people or even couples is very poor in the UK... a single adult is only paid £75 weekly .. barely subsistence money... families with children are much more protected financially if no adult is working in the family
 
tinytn said:
I understood that the second stimulus check will be only for the people who had there stores and restaurants, beauty shops , etc.. vandalized.. i think that amount will be for $2,000 dollars. , even that is not much... hope it will be more for them,,
i already got my stimulus check , came direct to my savings acc.. not by snail mail..
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Well, we all have a different understanding of what the check will be and who will get it so I won’t say you are wrong or incorrect. I will say this is not my understanding of what will happen. My understanding is that The store money must be applied for, therefore, theor may be special funds for the situations you mentioned.

The stimulus money is what it has always been for individuals who qualify for the funds depending on whatever the qualifying income will be when it passes. But in reality, we all just have to wait and see what it is. IMO. @tinytn
 
chic said:
@hollydolly, Are you still working? I'm not able to due to the mandatory mask law so things have been pretty bad here since March. And we have food lines here too and worse, people shoplifting food. I thought the U.K. was helping their citizens through this time financially. How else can people survive?
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That is just so sad. Sad for you, sad for everyone. Can you get unemployment? And scarier still to think what the recovery will be like if and when we can get the virus under control.
prayers for all of you who are struggling to survive💕
 
hollydolly said:
Chic, I retired 3 years ago at 62 ..my husband still works full time,. ( he's 60) Many thousands of people have been laid off here since March, which means they are unemployed and only entitled to unemployment benfits , and many also have been placed on furlough by their employers .. which means that the government will pay up to 80% of an employees wage up to a maximum of £2,500 per month, while the company cannot allow their employess to work from the company buildings , and have to work from home.. employers will pay 20 % to their employess in the forms of NIC's, and pension contributions, and of course any hours worked.
.
However, there's a huge problem with this too, because many of the companies who have had to furlough their employess are small businesses, and are paying salaries to those furloughed, yet having no income coming into the business... A friend of mine who has a small cafe has to pay her 2 staff £800 per month.. on furlough, as well as her rent for the cafe... yet she doesn't have a penny income coming in... and this is replicated throughout the whole of the UK ! ...and what I've explained here is the tip of the iceberg...

Food banks are overwhelmed here with requests for food.. more than ever in their history

I'm sorry to hear you can't work Chic. are you furloughed from work and being paid while at home ?... or have you lost your job?.. are you claiming unemployment benefits ?... Unemployment benefits for single people or even couples is very poor in the UK... a single adult is only paid £75 weekly .. barely subsistence money... families with children are much more protected financially if no adult is working in the family
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I'm not employed anymore cuz of covid restrictions and regulations so also not collecting. I'm living off money saved for a future business which will now come to nothing because of covid. Also, I have some money from selling off a stock portfolio. (I should have invested in mask manufacturers, but who knew?) :giggle:

Lucky your hubs is still working. That must help a lot. Food banks here are overwhelmed also. A friend of mine helps to feed 19 families and my cousin will buy groceries for anyone who asks, but they are just two people and both gainfully employed. People here have been shoplifting food and will break into your car if you leave a store bag in it, so we have to be careful for that now too. Everybody's car is scratched and dented these days and I've actually seen a few with parts held on with duct tape. This is why we need stimulus money so badly here. I'm afraid for civil unrest in the future is something isn't done to provide meaningful relief to people in need. Charities are not enough and cannot do it all.
 
I haven't made an appointment to get my taxes done yet so I will ask my tax lady but does it count as income? I have to watch my income since I get Covered California which I pay for. The truth is I need it as I'm not able to physically or mentally work full time anymore to get medical insurance through work.
 
Remy said:
I haven't made an appointment to get my taxes done yet so I will ask my tax lady but does it count as income? I have to watch my income since I get Covered California which I pay for. The truth is I need it as I'm not able to physically or mentally work full time anymore to get medical insurance through work.
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No it is not counted as income!!!!!!!
 
After “them” saying no taxes on the stimulus checks, the stimulus money is considered income, added to your gross, and taxed. But, hey, I still want the next round. 😃
 
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