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Everything posted by K-9
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While I applaud the courage of the various governors who have issued mandatory shutdowns of all non essential businesses and services, the Chinese and S Korean curves have been seen for weeks now and we have been contemplating these more stringent containment strategies for at least that same length of time. In the future, if we are in the contemplation stage of a plan because we KNOW it’s going to be the best short term containment strategy, then don’t delay; do it immediately and get on with it. This has never been a public relations issue, but we’ve seen leadership all across the country often treating it like it is and they’ve hesitated in taking protective defensive measures as a result.
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I agree. There is no panacea. But in the short term a trillion dollars of capital infusion into the markets should help to offset those liquidity concerns, even if just a little, and help lenders when needing to postpone payments from some of their customers. Question: since those receivables are still assets, can’t lenders borrow against those future payments to further offset liquidity issues? I’m really not sure. I think I’ve had enough posts get deleted for one day as they attracted this kind of trolling element. Go troll a different pond.
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Heard the CEO of BoA say in an interview on Sunday that if you’ve been impacted by the crisis all,you have to do is call the bank, explain that, and your payment due will be suspended. This needs to happen across the board for all mortgages, all loans, all rents, all utilities, etc. It’s our moral imperative. My cynicism says, “good luck with that.”
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That’s right: it would be. And yet, it isn’t. And the greatest country in the world, home to the greatest technological advancements and accomplishments in human history, that has shown time and time again that we can marshal all resources necessary to meet whatever the emergency demanded of us, is left to lag behind the world in such embarrassing fashion at such a critical time. Because of egos and competing agencies? There have been egos and competing departments and interests involved in meeting challenges in the past. What’s different now? [Mod edit: my response is "lack of effective central command and control" eg pandemic preparedness office with gov't support. It seems pretty clear to me that we still don't have this. And let's stop there and not "water under the bridge" who why - let's just see if we can "Make It So" going forward.]
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From a VOX report dated 3/8: For weeks we’ve heard empty promises of the imminent shipments of millions of test kits. For weeks we’ve heard from the scientists how critical it is to have this testing done ASAP. And for weeks we’ve heard story after story of how people with symptoms have been denied the test and/or given the bureaucratic run around when trying to obtain one. Sure looks like a deliberate plan to keep the numbers low from where I sit. Like I said, we all know why that is. And it should piss us off to no end.
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If I didn’t think I’d be tripping over it by the time this is over, I’d join ya.
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I’m gonna resist getting into my list of grievances here, lest it invite over the top, politically charged responses from a certain segment of the board. I’ll just say that it wasn’t convenient to see a big spike in positive tests and the best way to prevent seeing a big spike in positive tests is to limit the amount of tests available. Those regulations could have been lifted in five minutes. Redfield has that authority.