Jayson
A True Doomsday Prepper
Get your guns and your popcorn ready. When the SHTF, the starving hordes will be roaming around our neighborhoods.
Fallout from COVID-19
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Helen Back
A True Doomsday Prepper
A tsunami of bankruptcies are about to wash away America's retail sector
"Such is the current life for McGrail and others in the retail bankruptcy and restructuring fields. In talking to a host of experts, one thing is abundantly clear: A thunderstorm of bankruptcies in retail are about to rain down on Wall Street thanks to the aftershock of the coronavirus.
Once formidable retailers will either vanish entirely or emerge from bankruptcy with 75% smaller store networks. Those retailers that somehow manage to avoid bankruptcy by way of a creative debt raise or other restructuring will find the road ahead bumpy at best.... I think many of these companies will file [for bankruptcy], and it’s not a handful. It’s several dozen. And that’s a scary number. It’s far more than we have seen over the last several years combined,”
https://finance.yahoo.com/news/a-ts...sh-away-americas-retail-sector-142047677.html
"Such is the current life for McGrail and others in the retail bankruptcy and restructuring fields. In talking to a host of experts, one thing is abundantly clear: A thunderstorm of bankruptcies in retail are about to rain down on Wall Street thanks to the aftershock of the coronavirus.
Once formidable retailers will either vanish entirely or emerge from bankruptcy with 75% smaller store networks. Those retailers that somehow manage to avoid bankruptcy by way of a creative debt raise or other restructuring will find the road ahead bumpy at best.... I think many of these companies will file [for bankruptcy], and it’s not a handful. It’s several dozen. And that’s a scary number. It’s far more than we have seen over the last several years combined,”
https://finance.yahoo.com/news/a-ts...sh-away-americas-retail-sector-142047677.html
Jayson
A True Doomsday Prepper
Just my 2 cents worth, but I think a significant percentage of homes are going to be foreclosed on and/or the homeowners will declare bankruptcy.
Brent S
Top Poster
I don’t believe there will be any industry immune to the economic effects from this. We just laid off everyone with our electrical company.i really feel terrible about it. We are lucky that I don’t believe in debt and ran the company wisely. 90% of small businesses carry loads of debt and during times like this are hurting bad. We can stop working and not have to worry about any bills at least. We are still getting some work but 85% has stopped. I am fortunate enough to not have to worry about loosing my home or running out of food. I am also smart enough to be greatful for that fact. We are all going to see some hard times in the near future from this, not just one sector or industry.
Brent I’m so sorry to hear you had to lay everyone off. That has to hurt. Glad you are looking at the positive though. You are fortunate not to need the business. Small Blessings.
You want to shift your work to installing solar networks and battery backup power.
Brent S
Top Poster
I finished Demolishing the first greenhouse I built here today. It’s completely down and loaded up on a trailer for the dump later this week. The foundation is broken up into pieces small enough to pick up now and will get loaded in the morning. I should be able to level the spot for the installing the pool tomorrow. The truck will deliver the crate of solar panels sometime tomorrow too. So no shortage of things to keep busy with here.
I had quit leaving the property close to six weeks ago all ready. It has been good to get projects done around here but letting the business go down was tough. Hopefully we will get enough work to keep my son going until the world tries to open back up again. It really was tough to shut down for the guys though. I feel responsible for them and hated to do it. I’m not real optimistic about the future right now but am glad I managed well and saved enough to be ok for the immediate future anyways. Good luck to us all though.
I had quit leaving the property close to six weeks ago all ready. It has been good to get projects done around here but letting the business go down was tough. Hopefully we will get enough work to keep my son going until the world tries to open back up again. It really was tough to shut down for the guys though. I feel responsible for them and hated to do it. I’m not real optimistic about the future right now but am glad I managed well and saved enough to be ok for the immediate future anyways. Good luck to us all though.
I expect the SDR's to start rolling out and the Dollar to collapse in the near future.
Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF).[1] SDRs are units of account for the IMF, and not a currency per se.[2] They represent a claim to currency held by IMF member countries for which they may be exchanged.[3] SDRs were created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and U.S. dollars.[
Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF).[1] SDRs are units of account for the IMF, and not a currency per se.[2] They represent a claim to currency held by IMF member countries for which they may be exchanged.[3] SDRs were created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and U.S. dollars.[
Danil54grl
Top Poster
I think the American currancy wont be going away too soon. . . that is what most people are accustom to and it would be hard to break from that habit. . . but maybe it is just me, one who does not do well with change.
I think the American currancy wont be going away too soon. . . that is what most people are accustom to and it would be hard to break from that habit. . . but maybe it is just me, one who does not do well with change.
Until the dollar starts to be devalued and eventually collapses, the world will sell off there dollars fast.
Danil54grl
Top Poster
I am still one that wont charge on a credit card and still to this day dont own an ATM card (think that is what they are called). I am old schooled and pay either cash or check.
I use a rewards credit card for every purchase and bill I can. I then pay the balance every month. I make a substantial amount of free money (with points) by doing so.
I dont use debit cards, they have no value for me in using them. Debit cards immediately debit your account, fraud can drain your bank account and cause your checks and auto payments to bounce. Credit cards give you time to resolve any fraudulent charges without any disadvantages.
Brent S
Top Poster
I like a debit card and even a credit card as it’s safer than cash and necessary for online purchases. I’m also the first to warn people to never put anything on a card that can’t be paid off when the statement comes. Paying the interest rates on cards is just stupid. If you can’t afford to pay it in full when the bill comes then you couldn’t afford the item to begin with. Credit cards are legal loan sharks.
Jayson
A True Doomsday Prepper
I’ll use any credit card except American Express. When I was young, dumb and full of cumquats I applied for AE. They turned me down for not having a high enough income. Decades later my salary went up and now they bombard we with numerous requests to apply for a AE card. Piss on them.
Jayson
A True Doomsday Prepper
Agreed. I’m surprised the Mafia doesn’t have a credit card business.
“Don’t leave jail without it.”
Brent S
Top Poster
I’ve run the business on an Amex card, mostly for the points. I get Lowe’s gift cards with the points and buy stuff I was going to need anyways. The only reason I don’t like them is occasionally a supplier doesn't want to take them or charges a fee for the transaction. Usually I will write a check in those cases. We decided to not take cards from customers due to the fees involved from the beginning. Lots of people say, ‘it’s only 3%, what’s the big deal’, but over several years it adds up to a lot of money you are just giving to banks.
Has anyone else seen this? Looks like our preps are REALLY going to be needed!!
'Our supply line is brittle': Thomas Massie warns US could be weeks away from food shortages
Kentucky Rep. Thomas Massie warned that the United States could face food shortages due to the “brittle” supply chain, bankrupting farmers and forcing them to euthanize livestock.
“We are weeks, not months, away from farmers euthanizing animals that would have been sold for meat/food. Also, fruits and vegetables are going to rot in the fields. A drastic change in policy this week could ameliorate this inevitability,” he tweeted Monday.
Massie shared an interview he did with a local radio show host for the tri-state area of Ohio, West Virginia, and Kentucky, during which he spoke about how the U.S. could see farmers going bankrupt and euthanizing cattle and hogs because meat processing plants have shuttered during the coronavirus pandemic.
You have people running the government that have no clue about how the economy works and how their food gets to the table,” Massie told radio host Tom Roten.
“The shocking thing is that farmers are watching the value of their hogs and steers, cows, go down. In fact, they're going to some of the lowest levels ever,” he said. “So the question is: Why is the price of meat going up in the supermarkets and the price of cattle going down at the auction ring? It’s because our supply line is brittle. You have to take cattle, steer, beef, whatever, hogs, to a processing plant. And these processing plants, like much of industrial America right now, are shutting down because of absentees, which has been exacerbated by the unemployment program the federal government has instituted — plus the $1,200 checks that are about to hit, plus some of the regulations that the states have put in place.”
He said there are at least six giant meat processing plants that have shut down during the pandemic, including one plant that was processing 1,900 cattle a day.
“I'm afraid you're going to see ... cattle and hogs being euthanized or incinerated and buried while we have shortages at the supermarket. And you talk about civil unrest when you start seeing that. And it’s all because of the brittle food supply chain,” he said.
Massie added he is working on a bill to help prevent a shortage and get cuts of beef and pork on dinner tables.
“I've got a bill that would let these local meat packers sell cuts of meat individually instead of having to sell half a cow or a quarter of a cow,” he said.
'Our supply line is brittle': Thomas Massie warns US could be weeks away from food shortages
Kentucky Rep. Thomas Massie warned that the United States could face food shortages due to the “brittle” supply chain, bankrupting farmers and forcing them to euthanize livestock.
“We are weeks, not months, away from farmers euthanizing animals that would have been sold for meat/food. Also, fruits and vegetables are going to rot in the fields. A drastic change in policy this week could ameliorate this inevitability,” he tweeted Monday.
Massie shared an interview he did with a local radio show host for the tri-state area of Ohio, West Virginia, and Kentucky, during which he spoke about how the U.S. could see farmers going bankrupt and euthanizing cattle and hogs because meat processing plants have shuttered during the coronavirus pandemic.
You have people running the government that have no clue about how the economy works and how their food gets to the table,” Massie told radio host Tom Roten.
“The shocking thing is that farmers are watching the value of their hogs and steers, cows, go down. In fact, they're going to some of the lowest levels ever,” he said. “So the question is: Why is the price of meat going up in the supermarkets and the price of cattle going down at the auction ring? It’s because our supply line is brittle. You have to take cattle, steer, beef, whatever, hogs, to a processing plant. And these processing plants, like much of industrial America right now, are shutting down because of absentees, which has been exacerbated by the unemployment program the federal government has instituted — plus the $1,200 checks that are about to hit, plus some of the regulations that the states have put in place.”
He said there are at least six giant meat processing plants that have shut down during the pandemic, including one plant that was processing 1,900 cattle a day.
“I'm afraid you're going to see ... cattle and hogs being euthanized or incinerated and buried while we have shortages at the supermarket. And you talk about civil unrest when you start seeing that. And it’s all because of the brittle food supply chain,” he said.
Massie added he is working on a bill to help prevent a shortage and get cuts of beef and pork on dinner tables.
“I've got a bill that would let these local meat packers sell cuts of meat individually instead of having to sell half a cow or a quarter of a cow,” he said.
Yes, it's old news, from last week. A week is old news, these days, lol
Maverick
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Looks like CNN and Chris Cuomo have some explaining to do. Question is, did Chris Cuomo really have COVID-19? Not mention the live video chat between Chris (in quarantine) and the Governor of NY during COVID-19 press briefing Hmm....
‘A PROVEN LIE’: CNN, Chris Cuomo Blasted For Suspicious Claim About Cuomo In Quarantine
https://www.dailywire.com/news/a-pr...or-suspicious-claim-about-cuomo-in-quarantine
"What sort of gaslighting is this? Chris Cuomo didn't just emerge from a basement quarantine - I mean, the guy got in a well-publicized fight with a biker outside of his second home in the Hamptons on Easter. This is ... pretty shameless stuff by CNN," Washington Examiner reporter Jerry Dunleavy wrote.
https://www.foxnews.com/media/cnns-...gence-from-basement-after-spat-with-bicyclist
CNN Brings on Dr. Sanjay Gupta to Hype Chris Cuomo’s Chest X-Ray, Ends up Getting Fact-Checked by Actual Radiologists
https://www.redstate.com/bonchie/20...-getting-fact-checked-by-actual-radiologists/
The Moment..
https://twitter.com/CuomoPrimeTime/status/1252411300598038529
‘A PROVEN LIE’: CNN, Chris Cuomo Blasted For Suspicious Claim About Cuomo In Quarantine
https://www.dailywire.com/news/a-pr...or-suspicious-claim-about-cuomo-in-quarantine
"What sort of gaslighting is this? Chris Cuomo didn't just emerge from a basement quarantine - I mean, the guy got in a well-publicized fight with a biker outside of his second home in the Hamptons on Easter. This is ... pretty shameless stuff by CNN," Washington Examiner reporter Jerry Dunleavy wrote.
https://www.foxnews.com/media/cnns-...gence-from-basement-after-spat-with-bicyclist
CNN Brings on Dr. Sanjay Gupta to Hype Chris Cuomo’s Chest X-Ray, Ends up Getting Fact-Checked by Actual Radiologists
https://www.redstate.com/bonchie/20...-getting-fact-checked-by-actual-radiologists/
The Moment..
https://twitter.com/CuomoPrimeTime/status/1252411300598038529
I had seen the part about the meat shortage, but missed that the fruit and vegetable will be affected too.
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