People are ripping Disney World for opening in Florida. Can't speak to their finances specifically, but you're about to see MANY businesses do things they shouldn't as PPP funds run out. PPP funds were only meant to cover payroll for EIGHT WEEKS.
2. In fact, I'm not sure many people, especially journalists, are even aware of this. The Payroll Protection Program (PPP) funds were designed to cover eight weeks of lockdown and then capped. It's been eight weeks and now the money is gone.
3. This is TERRIBLE for the economy because it forces businesses to a) reopen amid an ongoing pandemic or b) stay closed and go out of business.
But here's the catch: If a business reopens, it incurs all the costs of operating, but customers still aren't shopping/eating/buying.
But here's the catch: If a business reopens, it incurs all the costs of operating, but customers still aren't shopping/eating/buying.
4. So now you've created a situation where businesses, which have been forced to open, are hemorrhaging cash and will likely fold anyway.
If you wanted to absolutely destroy the U.S. economy, this would be a good way to do it.
If you wanted to absolutely destroy the U.S. economy, this would be a good way to do it.
5. And where tf is Congress on this? Taxes, normally due in April, are now due WEDNESDAY. The $600 federal bonus unemployment insurance expires at the end of July. Rent and mortgage payments are due the next day.
No one in a position to do anything useful is and its maddening.
No one in a position to do anything useful is and its maddening.
6. Who here thinks this number will be BETTER in August? Does Congress realize what happens to the economy when half the country can't make mortgage or rent payments?? 
