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Wally Fairway

What would you do if the US Treasury sent you $1,000

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This idea is being floated, saw it yesterday credited to Romney, and today as something credited to Mnuchin.
It seems like an almost meaningless attempt to put something out there that the Administration is doing to lessen the impact - but it is less that a months living expense (thinking rent/mortgage, car payment, groceries, utilities, Netflix/Disney+/Pornhub) 

Google tells me there are about 209 million adults in the US, so $209 billion stimulus
I think it would just pad my rainy day fund, as I have what I need for the next 6+ weeks. I'd probably keep it in cash, just because. 
Nothing really that I could spend it on, maybe greens fees but I think that will be shut down by the time it warms up enough for me. 

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I'd be sure to spend most of it in local restaurants when this whole things blows over. 

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3 minutes ago, Anastasis said:

I'd be sure to spend most of it in local restaurants when this whole things blows over. 

This - we have three restaurants that we go to on a pretty regular basis. Some of the bartender's have become really good friends. 

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I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities…

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Straight cash homey. 

This seems like a dumb idea/too early. 

I think what really needs to happen is a mortgage/rent holiday where everything gets tucked into the end of the term. 

Mid you don’t have any housing costs, and you can’t leave the house anyway that probably keeps most people solvent. Same with credit cards and student loans. Don’t cancel the debt just suspend it. 

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If you invest your tuppence
Wisely in the bank
Safe and sound
Soon that tuppence safely invested in the bank
Will compound
And you'll achieve that sense of conquest
As your affluence expands
In the hands
Of the directors
Who invest as propriety demands

You see, Michael, you'll be part of...
Railways through Africa
Dams across the Nile
Fleets of ocean greyhounds
Majestic self-amortizing canals
Plantations of ripening tea

All from
Tuppence prudently, thriftily, frugally
Invested in the...
To be specific
In the Dawes, Tomes, Mousley, Grubbs
Fidelity Fiduciary Bank

When you deposit tuppence in a bank account
Soon you'll see
That it blooms into credit of a generous amount
Semiannually

And you'll achieve that sense of stature
As your influence expands
To the high financial strata
That established credit now commands

You can purchase first and second trust deeds
Think of the foreclosures!
Bonds, chattels, dividends, shares
Bankruptcies
Debtor sales
Opportunities
All manner of private enterprise
Shipyards
The mercantile
Collieries
Tanneries
Corporations
Amalgamations
Banks!

You see, Michael? All for the lack of...
Tuppence
Patiently, cautiously, trustingly invested in the...
To be specific
In the Dawes, Tomes, Mousley, Grubbs
Fidelity Fiduciary Bank

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4 minutes ago, Wulaw Horn said:

Straight cash homey. 

This seems like a dumb idea/too early. 

I think what really needs to happen is a mortgage/rent holiday where everything gets tucked into the end of the term. 

Mid you don’t have any housing costs, and you can’t leave the house anyway that probably keeps most people solvent. Same with credit cards and student loans. Don’t cancel the debt just suspend it. 

That works for mortgages but that would not really help renters who work in the retail and service industry.

UBI is the probably the only thing to provide security for tens of millions of people who live in the US.

Also probably needs to be payments for the next 4 months. So let’s just say $850 billion 

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2 minutes ago, Wulaw Horn said:

I think what really needs to happen is a mortgage/rent holiday where everything gets tucked into the end of the term. 

This is exactly the right approach.  Even a 3-month reprieve on mortgage/rent would be huge for most households.  The burden could not be placed on landlords, though, it would have to move up to the banks which would be backstopped by the federal government.  Even landlords w/o notes would have to be made whole.  I suppose that would have to come from the government, which presumably has proof of income (tax returns).

Lord knows the banks have made a massive shitton of money of real estate over the last few decades.  Time to help out.

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I have all sorts of pithy jokes to make here since I have money out the anus but there is about to be a whole assload of people that are going to need $1000 however they can get it.

 

So in the meantime here is something else to enjoy

 

 

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As a bartender who isn't really sure how he'll make money from now to May - pay bills and rent, buy cheap as shit groceries, and try my best to stay current on CC payments. 

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11 minutes ago, jimmyjazz said:

This is exactly the right approach.  Even a 3-month reprieve on mortgage/rent would be huge for most households.  The burden could not be placed on landlords, though, it would have to move up to the banks which would be backstopped by the federal government.  Even landlords w/o notes would have to be made whole.  I suppose that would have to come from the government, which presumably has proof of income (tax returns).

Lord knows the banks have made a massive shitton of money of real estate over the last few decades.  Time to help out.

Exactly how I would envision it happening. Seems like the most effective and prudent way to keep people on their feet and the least loss involved to the system. Agreed about landlords without mortgages. 

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Posted (edited)

Holy fuck it's Wulaw Horn.

He must have been looking for our annual March Madness draft game.

Edited by Huckleberry

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This is exactly the right approach.  Even a 3-month reprieve on mortgage/rent would be huge for most households.  The burden could not be placed on landlords, though, it would have to move up to the banks which would be backstopped by the federal government.  Even landlords w/o notes would have to be made whole.  I suppose that would have to come from the government, which presumably has proof of income (tax returns).
Lord knows the banks have made a massive shitton of money of real estate over the last few decades.  Time to help out.

This. Cutting Americans a check is helpful but ultimately it has to go all the way up the chain.

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20 minutes ago, Moby Ric said:

Save it to pay the Gov't when they ask for it back on April 15th.

looks like they could give another 90 days to pay, but you still have to file by April 15 (according to reports that are filtering out)

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2 hours ago, Wally Fairway said:

This idea is being floated, saw it yesterday credited to Romney, and today as something credited to Mnuchin.
It seems like an almost meaningless attempt to put something out there that the Administration is doing to lessen the impact - but it is less that a months living expense (thinking rent/mortgage, car payment, groceries, utilities, Netflix/Disney+/Pornhub) 

Google tells me there are about 209 million adults in the US, so $209 billion stimulus
I think it would just pad my rainy day fund, as I have what I need for the next 6+ weeks. I'd probably keep it in cash, just because. 
Nothing really that I could spend it on, maybe greens fees but I think that will be shut down by the time it warms up enough for me. 

who pays for pornhub?

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Hopefully they will deposit straight into my brokerage account so I can YOLO it on some deep out of the money puts. If I triple up, they get it back in taxes. If not, fuck it......It's a stupid idea to hand $1000 to everybody regardless of need. 

Also, how are they gonna get this to the homeless people standing at every intersection median. If they send me that money, I'll make sure it gets to the intended recipient (or buy more puts)

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This is exactly the right approach.  Even a 3-month reprieve on mortgage/rent would be huge for most households.  The burden could not be placed on landlords, though, it would have to move up to the banks which would be backstopped by the federal government.  Even landlords w/o notes would have to be made whole.  I suppose that would have to come from the government, which presumably has proof of income (tax returns).
Lord knows the banks have made a massive shitton of money of real estate over the last few decades.  Time to help out.
This.

The bar that rents the ground floor in my building has been closed and already asked me to help cover their share of our mortgage until this blows over. A few months grace on mortgage payments would help a ton.

As for the grand, I think I would divide it up and give it to some people I know who are suddenly unemployed because of this, like bartenders and cleaners. Some good, hardworking people are really fucked by this right now.

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2 hours ago, Wally Fairway said:

but it is less that a months living expense (thinking rent/mortgage, car payment, groceries, utilities, Netflix/Disney+/Pornhub) 

If you're paying for pornhub, you're doing it wrong.

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2 hours ago, Wally Fairway said:

This idea is being floated, saw it yesterday credited to Romney, and today as something credited to Mnuchin.
It seems like an almost meaningless attempt to put something out there that the Administration is doing to lessen the impact - but it is less that a months living expense (thinking rent/mortgage, car payment, groceries, utilities, Netflix/Disney+/Pornhub) 

Google tells me there are about 209 million adults in the US, so $209 billion stimulus
I think it would just pad my rainy day fund, as I have what I need for the next 6+ weeks. I'd probably keep it in cash, just because. 
Nothing really that I could spend it on, maybe greens fees but I think that will be shut down by the time it warms up enough for me. 

W did it years ago.  I got like $350. I bought a lawn mower. Still use it.

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I've got some bad news for most of you guys

The president has instructed me we have to do this now,” Mnuchin added, though did not give specifics, except to say that the amount would be significant and that millionaires would not receive it.

 

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