Small businesses in irreversible collapse - and no one cares, the media barely covers it... why??

[iamwhatiseem]

I've been saying this from the outset, that these lockdowns were going to result in the largest transfer of wealth to the 1% in history.

And that's exactly what is happening. Didn't need a degree in rocketology to see this one coming.

I swear to God, I think 3/4 of the people here would fail 3rd grade math. "Every small business should have a years worth of capital on hand"... I mean... how do you even respond to that kind of special ignorance?

Never had a national restaurant franchise have you? Probably not even a business owner.

haha... you CLEARLY are not

 

[debbiedowner]

I've been saying this from the outset, that these lockdowns were going to result in the largest transfer of wealth to the 1% in history.

And that's exactly what is happening. Didn't need a degree in rocketology to see this one coming.

I swear to God, I think 3/4 of the people here would fail 3rd grade math. "Every small business should have a years worth of capital on hand"... I mean... how do you even respond to that kind of special ignorance?

Never had a national restaurant franchise have you? Probably not even a business owner.

haha... you CLEARLY are not

I was and still in business in a different industry. Like I said I hope they succeed but the odds are against them. Hell there are some of those business owner's who took their PPP money and did not use for the intended purpose. Most are in the restaurant business.

 

[Oldestyle]

I guess this just goes to show the stock market is not the economy and maybe small business owner's should have a years worth of capital on hand at all times.

Wow, Debbie...that's about as cold as it gets! For your information most small business owners are in a fight for survival right now and what they NEED is the ability to do business without government interference. All this political bullshit about this pandemic? Somehow we've lost sight of the fact that people's lively hoods are being wiped out and literally millions of Americans face bankruptcy because a certain segment of the population has decided that's a price THEY'RE willing to pay to stay safe!

When I went into business in 1986 with a national franchise I had to prove I had at least a years worth of capital or could get my hands on it. Sorry man too many small business owner's go into it with a month or two capital. Who's fault is that? I hope they succeed. Now in the tourist states such as Florida they have banked all too long on the tourists coming. Some banked on military bases with no other manufacturing.

What part of banking on the tourists coming did you find fault with? It's Florida for god's sake! Tourists have been coming for the last hundred years! You're trying to blame this on the business owners, Debbie and that's ridiculous! We've NEVER closed down our entire economy like this and it was a terrible over reaction to the pandemic! Telling healthy people they should stay home and hide for month after month hasn't stopped the pandemic...it's simply made it drag on and on! You've got successful business people who are burning through their lives savings right now because they're trying to keep their businesses afloat. How much of their retirement would you like to see them use up before YOU'RE satisfied?

 

[Oldestyle]

I've been saying this from the outset, that these lockdowns were going to result in the largest transfer of wealth to the 1% in history.

And that's exactly what is happening. Didn't need a degree in rocketology to see this one coming.

I swear to God, I think 3/4 of the people here would fail 3rd grade math. "Every small business should have a years worth of capital on hand"... I mean... how do you even respond to that kind of special ignorance?

Never had a national restaurant franchise have you? Probably not even a business owner.

haha... you CLEARLY are not

I was and still in business in a different industry. Like I said I hope they succeed but the odds are against them. Hell there are some of those business owner's who took their PPP money and did not use for the intended purpose. Most are in the restaurant business.

One of my best friends down here is a Chef/Owner of a restaurant that's been in business for almost twenty years with a loyal clientele! He was forced to shut the doors for three months and then when he was allowed to open it was at 25% capacity. He used the money he got from the government to pay his staff but that was quickly gone and now he's been steadily losing money for the past six months. Capacity is now up to 50% if he follows social distancing guidelines and even if he's totally booked with that amount of tables he's losing money every night he opens the doors. He trying to figure out how much of the money he's worked his whole life to save he's willing to burn through. He's frustrated...he's angry...and he's NOT voting for Democrats this year! He sees Democrats as the people that are trying to bankrupt him because they think a bad economy is the only way Joe Biden is getting elected.

 

[WTH_Progs?]

Yes this belongs in politics, because it is politics that is killing small businesses across the country.
I have been saying this for 3 months with little response even on this forum. We are entering into a place this country has never been before - the near complete loss of small businesses. In our locale, nearly 1/3 are closed indefinitely or permanently. It is the same everywhere.

So why is the news barely covering this??

Because the investment/financial class couldn't think of a better thing to happen. You can't invest in a small business. You can't cut 5% cream off the top by playing in the stock market... because they are not there. As every small business closes, in all likelihood the market will be assumed by a corporate box store. Or via online. And THAT can be invested in. So as small businesses close, this opens the door for $100s Billions in investable commerce that is off limits to them now.
And what will be the result - and even greater concentration of wealth.

Long live corporatism.

https://www.washingtonpost.com/business/on-small-business/small-businesses-are-dying-by-the-thousands--and-no-one-is-tracking-the-carnage/2020/08/11/660f9f52-dbda-11ea-b4f1-25b762cdbbf4_story.html

CEOs to Congress: A lot more small businesses will fail without new aid

The executives painted a dire picture: mass business closures as coronavirus cases surge and the recession deepens.

www.seattletimes.com

A tale of two pandemics: Big-box stores rake in record profits while small businesses fold

As consumers shift to bulk-buying and one-stop shopping, the pandemic is driving a wedge between the haves and have-nots across the retail industry.

www.nbcnews.com

You know why...

1. Bezos and that don't own it yet.

2. PROGS disapprove of American ways. What's more American than small business, ingenuity and middle class? PROGS hate that shit, Chinese goods is where we need to be.

3. PROGS are communists.

4. PROG-News is propaganda only, they don't report news.

 

[bendog]

I guess this just goes to show the stock market is not the economy and maybe small business owner's should have a years worth of capital on hand at all times.

And maybe you are more clueless than previously thought possible.
OMG - that is such a brain dead thing to say, I wouldn't know where to start. A year's worth of capital.... FFS.... holy shit

I think the five years capital was sarcasm.

 

[bendog]

I've been saying this from the outset, that these lockdowns were going to result in the largest transfer of wealth to the 1% in history.

And that's exactly what is happening. Didn't need a degree in rocketology to see this one coming.

I swear to God, I think 3/4 of the people here would fail 3rd grade math. "Every small business should have a years worth of capital on hand"... I mean... how do you even respond to that kind of special ignorance?

Never had a national restaurant franchise have you? Probably not even a business owner.

haha... you CLEARLY are not

I was and still in business in a different industry. Like I said I hope they succeed but the odds are against them. Hell there are some of those business owner's who took their PPP money and did not use for the intended purpose. Most are in the restaurant business.

One of my best friends down here is a Chef/Owner of a restaurant that's been in business for almost twenty years with a loyal clientele! He was forced to shut the doors for three months and then when he was allowed to open it was at 25% capacity. He used the money he got from the government to pay his staff but that was quickly gone and now he's been steadily losing money for the past six months. Capacity is now up to 50% if he follows social distancing guidelines and even if he's totally booked with that amount of tables he's losing money every night he opens the doors. He trying to figure out how much of the money he's worked his whole life to save he's willing to burn through. He's frustrated...he's angry...and he's NOT voting for Democrats this year! He sees Democrats as the people that are trying to bankrupt him because they think a bad economy is the only way Joe Biden is getting elected.

It's a shame Trump didn't get testing in order as did the other developed economies sans the UK and Sweden … all ten of them. LOL

 

[Oldestyle]

Yes this belongs in politics, because it is politics that is killing small businesses across the country.
I have been saying this for 3 months with little response even on this forum. We are entering into a place this country has never been before - the near complete loss of small businesses. In our locale, nearly 1/3 are closed indefinitely or permanently. It is the same everywhere.

So why is the news barely covering this??

Because the investment/financial class couldn't think of a better thing to happen. You can't invest in a small business. You can't cut 5% cream off the top by playing in the stock market... because they are not there. As every small business closes, in all likelihood the market will be assumed by a corporate box store. Or via online. And THAT can be invested in. So as small businesses close, this opens the door for $100s Billions in investable commerce that is off limits to them now.
And what will be the result - and even greater concentration of wealth.

Long live corporatism.

https://www.washingtonpost.com/business/on-small-business/small-businesses-are-dying-by-the-thousands--and-no-one-is-tracking-the-carnage/2020/08/11/660f9f52-dbda-11ea-b4f1-25b762cdbbf4_story.html

CEOs to Congress: A lot more small businesses will fail without new aid

The executives painted a dire picture: mass business closures as coronavirus cases surge and the recession deepens.

www.seattletimes.com

A tale of two pandemics: Big-box stores rake in record profits while small businesses fold

As consumers shift to bulk-buying and one-stop shopping, the pandemic is driving a wedge between the haves and have-nots across the retail industry.

www.nbcnews.com

Its a harsh reality of capitalism...it doesn't care if you live or if you die. Whatever you sell will be sold by someone else; be it widgets, your talent, or labor.

yeah...so... no. It has nothing to do with capitalism. Play less Empires and Puzzles and read a book.
Good lord.

We have a capitalist system in this nation. Right? I'm sure you'll disagree but I don't really give a shit.
Whatever it is you sell, the buyer can get somewhere else in our capitalist system. Right? I'm sure you'll disagree but I don't really give a shit.
So whether "you" survive in our capitalist system where anyone can sell anything at any price; the system doesn't care. Right? I'm sure you'll disagree but I don't really give a shit.

Try to understand what you're talking about .

You don't give a shit about millions of people losing their jobs...their life savings...their homes? What DO you give a shit about, Candy? Defeating Donald Trump in November? Tell us what you're willing to sacrifice to try and make that happen!

Oh **** off.

I only said that capitalism doesn't care if you're the one providing the goods or services. If you don't believe me, look at Sears, Monty Ward, Eastern Airlines, or any of the hundreds of other corporations that have gone by the wayside when someone else came along and did it smarter, faster and better. Its a harsh reality that in a free market, you're existence is precarious at best. In a global market, it's even more unstable.

As for defeating the blob who is doing nothing to help small businesses--you may remember he had his crap made in China instead of hiring a small US firm to make the shit--it is job #1. It should be yours too **** face.

Sears didn't go out of business because the government shut them down, Candy! Thousands of US business have gone out of business during this pandemic because the government forced them to close their doors. Thousands more are teetering on the edge of bankruptcy now!

I'm amused by your claim that it's Donald Trump that caused so much of the goods we buy to come from other countries. NAFTA wasn't Trump's deal. That was Clinton. Obama did nothing to level the playing field with China. Trump has actually passed trade deals that don't penalize American manufacturers and OMG...manufacturing jobs started coming back to the US!

You think Joe Biden is going to be tough on China? Why do you think the Chinese want him as President? Duh?

 

[Oldestyle]

I've been saying this from the outset, that these lockdowns were going to result in the largest transfer of wealth to the 1% in history.

And that's exactly what is happening. Didn't need a degree in rocketology to see this one coming.

I swear to God, I think 3/4 of the people here would fail 3rd grade math. "Every small business should have a years worth of capital on hand"... I mean... how do you even respond to that kind of special ignorance?

Never had a national restaurant franchise have you? Probably not even a business owner.

haha... you CLEARLY are not

I was and still in business in a different industry. Like I said I hope they succeed but the odds are against them. Hell there are some of those business owner's who took their PPP money and did not use for the intended purpose. Most are in the restaurant business.

One of my best friends down here is a Chef/Owner of a restaurant that's been in business for almost twenty years with a loyal clientele! He was forced to shut the doors for three months and then when he was allowed to open it was at 25% capacity. He used the money he got from the government to pay his staff but that was quickly gone and now he's been steadily losing money for the past six months. Capacity is now up to 50% if he follows social distancing guidelines and even if he's totally booked with that amount of tables he's losing money every night he opens the doors. He trying to figure out how much of the money he's worked his whole life to save he's willing to burn through. He's frustrated...he's angry...and he's NOT voting for Democrats this year! He sees Democrats as the people that are trying to bankrupt him because they think a bad economy is the only way Joe Biden is getting elected.

It's a shame Trump didn't get testing in order as did the other developed economies sans the UK and Sweden … all ten of them. LOL

Trump got more testing being done than any other nation on the planet...care to try again?

Contrast that with the testing that was done during the Swine flu pandemic when Barry was in office! Do you recall what the Obama Administration did at the height of that outbreak? They STOPPED testing all together!

"

However, during the 2009 swine flu pandemic, the Obama administration suddenly told states to shut down their testing, without providing much in the way of explanation. And, Biden's top advisor at the time has acknowledged that the Obama administration didn't do "anything right" to combat that pandemic, before walking back those comments.

The record seemingly complicates Biden's claims, in advertising and speeches, that he would have handled state-level coronavirus testing more effectively than the current White House.

"In late July, the CDC abruptly advised states to stop testing for H1N1 flu, and stopped counting individual cases," CBS News reported in 2009. "The rationale given for the CDC guidance to forego testing and tracking individual cases was: why waste resources testing for H1N1 flu when the government has already confirmed there's an epidemic?"

Reporter Sharyl Attkisson continued: "Some public health officials privately disagreed with the decision to stop testing and counting, telling CBS News that continued tracking of this new and possibly changing virus was important because H1N1 has a different epidemiology, affects younger people more than seasonal flu and has been shown to have a higher case fatality rate than other flu virus strains."

Obama admin shut down H1N1 testing, complicating Biden's attacks on Trump's coronavirus screening

In recent weeks, Biden has demanded that Trump "speed up the testing" nationwide

www.foxnews.com

 

[Tom Paine 1949]

I certainly sympathize with the plight of small business people and workers, many of whom will lose their businesses or never be rehired. There is some truth, however, to the point that the savings rate in the U.S. is very low. This Is not usually a personal failure so much as it is part of the very nature of U.S. society, which itself is deeply indebted, and encourages living above one’s means. Low interest on bank savings, low interest credit aimed at bailing out crony capitalists and keeping asset values high, everything in our economy is oriented to benefit those who already have concentrated capital.

We brag about being a society without regimented class structure, open to upward mobility and entrepreneurship, but the truth is we are more and more a gambler’s society, addicted to fiat money and easy credit, exploitation of foreign labor & international resources, twisted utilization of “intellectual property” and corporate privilege, all backed by military might.

 

[Oldestyle]

I certainly sympathize with the plight of small business people and workers, many of whom will lose their businesses or never be rehired. There is some truth, however, to the point that the savings rate in the U.S. is very low. This Is not usually a personal failure so much as it is part of the very nature of U.S. society, which itself is deeply indebted, and encourages living above one’s means. Low interest on bank savings, low interest credit aimed at bailing out crony capitalists and keeping asset values high, everything in our economy is oriented to benefit those who already have concentrated capital.

We brag about being a society without regimented class structure, open to upward mobility and entrepreneurship, but the truth is we are more and more a gambler’s society, addicted to fiat money and easy credit, exploitation of foreign labor & international resources, twisted utilization of “intellectual property” and corporate privilege, all backed by military might.

If that's the case, Tom? Why would any politician with the slightest regard for the people he or she represents shut down the economy for months and months?

 

[iamwhatiseem]

I've been saying this from the outset, that these lockdowns were going to result in the largest transfer of wealth to the 1% in history.

And that's exactly what is happening. Didn't need a degree in rocketology to see this one coming.

I swear to God, I think 3/4 of the people here would fail 3rd grade math. "Every small business should have a years worth of capital on hand"... I mean... how do you even respond to that kind of special ignorance?

Never had a national restaurant franchise have you? Probably not even a business owner.

haha... you CLEARLY are not

I was and still in business in a different industry. Like I said I hope they succeed but the odds are against them. Hell there are some of those business owner's who took their PPP money and did not use for the intended purpose. Most are in the restaurant business.

You realize that if a business used their PPP for purposes other than intended - they have to pay it back in full. PERIOD

 

[iamwhatiseem]

I guess this just goes to show the stock market is not the economy and maybe small business owner's should have a years worth of capital on hand at all times.

And maybe you are more clueless than previously thought possible.
OMG - that is such a brain dead thing to say, I wouldn't know where to start. A year's worth of capital.... FFS.... holy shit

I think the five years capital was sarcasm.

Where did you get five years? He said one years

 

[Oldestyle]

You've got Nancy Pelosi getting her hair done in a salon without a mask on at the same time that fellow Democrat Gavin Newsome is telling beauty parlor owners that they can't do business inside. It's like Animal Farm playing out in front of our eyes... All animals are equal but some are more equal than others!

 

[Oldestyle]

How many times has Pelosi criticized Trump's handling of the pandemic? Yet she does things like that? San Fran Nan is one of the larger hypocrites on the planet! It's a "do as I say...not as I do!" kind of thing with her!

 

[iamwhatiseem]

I certainly sympathize with the plight of small business people and workers, many of whom will lose their businesses or never be rehired. There is some truth, however, to the point that the savings rate in the U.S. is very low. This Is not usually a personal failure so much as it is part of the very nature of U.S. society, which itself is deeply indebted, and encourages living above one’s means. Low interest on bank savings, low interest credit aimed at bailing out crony capitalists and keeping asset values high, everything in our economy is oriented to benefit those who already have concentrated capital.

We brag about being a society without regimented class structure, open to upward mobility and entrepreneurship, but the truth is we are more and more a gambler’s society, addicted to fiat money and easy credit, exploitation of foreign labor & international resources, twisted utilization of “intellectual property” and corporate privilege, all backed by military might.

That is a very good post, and describes how the average American lives.
Pretty spot on.
However, it has little to do with running a business, and why small businesses are failing now - and why the media isn't covering it.

 

[bendog]

OK... so yeah... I should know better.
Yeah... 2 million companies all filing bankruptcy at the same time is the way to go... the magic money fairy will make it all work.

iMO the issue has been "covered" to the extent anything is covered. As others noted, what media outlets "cover" depends upon what issues their audience wants to hear about, so advertisers are kept happy with attentive viewers. But we're in the most serious recession since 1931 or so. Still a slim maj of around 52% thinks Trump is better on the econ than dems. And it is true that pre-pandemic we had the lowest unemployment of my lifetime, and wages acatually began increasing without UNIONS. And we're 7 weeks before an election. Trump wants people to see Portland in every city near them. And the dems have a maj of their base that seems intent on ignoring any provocation of the cops that occurs prior to a use of force on a minority citizen. In short, the econ is not the issue people are focusing on at this moment.

 

[Juicin]

Yes this belongs in politics, because it is politics that is killing small businesses across the country.
I have been saying this for 3 months with little response even on this forum. We are entering into a place this country has never been before - the near complete loss of small businesses. In our locale, nearly 1/3 are closed indefinitely or permanently. It is the same everywhere.

So why is the news barely covering this??

Because the investment/financial class couldn't think of a better thing to happen. You can't invest in a small business. You can't cut 5% cream off the top by playing in the stock market... because they are not there. As every small business closes, in all likelihood the market will be assumed by a corporate box store. Or via online. And THAT can be invested in. So as small businesses close, this opens the door for $100s Billions in investable commerce that is off limits to them now.
And what will be the result - and even greater concentration of wealth.

Long live corporatism.

https://www.washingtonpost.com/business/on-small-business/small-businesses-are-dying-by-the-thousands--and-no-one-is-tracking-the-carnage/2020/08/11/660f9f52-dbda-11ea-b4f1-25b762cdbbf4_story.html

CEOs to Congress: A lot more small businesses will fail without new aid

The executives painted a dire picture: mass business closures as coronavirus cases surge and the recession deepens.

www.seattletimes.com

A tale of two pandemics: Big-box stores rake in record profits while small businesses fold

As consumers shift to bulk-buying and one-stop shopping, the pandemic is driving a wedge between the haves and have-nots across the retail industry.

www.nbcnews.com

Most small businesses fail with or without corona

Just the nature of the market

 

[bendog]

Yes this belongs in politics, because it is politics that is killing small businesses across the country.
I have been saying this for 3 months with little response even on this forum. We are entering into a place this country has never been before - the near complete loss of small businesses. In our locale, nearly 1/3 are closed indefinitely or permanently. It is the same everywhere.

So why is the news barely covering this??

Because the investment/financial class couldn't think of a better thing to happen. You can't invest in a small business. You can't cut 5% cream off the top by playing in the stock market... because they are not there. As every small business closes, in all likelihood the market will be assumed by a corporate box store. Or via online. And THAT can be invested in. So as small businesses close, this opens the door for $100s Billions in investable commerce that is off limits to them now.
And what will be the result - and even greater concentration of wealth.

Long live corporatism.

https://www.washingtonpost.com/business/on-small-business/small-businesses-are-dying-by-the-thousands--and-no-one-is-tracking-the-carnage/2020/08/11/660f9f52-dbda-11ea-b4f1-25b762cdbbf4_story.html

CEOs to Congress: A lot more small businesses will fail without new aid

The executives painted a dire picture: mass business closures as coronavirus cases surge and the recession deepens.

www.seattletimes.com

A tale of two pandemics: Big-box stores rake in record profits while small businesses fold

As consumers shift to bulk-buying and one-stop shopping, the pandemic is driving a wedge between the haves and have-nots across the retail industry.

www.nbcnews.com

Most small businesses fail with or without corona

Just the nature of the market

Well yah. But they were shut down. And now there's no testing to determine who in a business establishment is, or isn't, infected. The econ simply is not going to rebound until the virus is contained.

But to the OP, the answer, to why the failure of small biz is not the most important issue, is simply that at this moment in time news consumers want to hear of something else. Trump supporters want us to believe a "race riot" is coming to our neighborhood … when if we ever had "race riots" it was before most were born, and the blacks aren't coming for us anyway. And some Biden supporters are predisposed to ignoring any provocation a black suspect gives to cops, and others are concerned Biden's letting Trump distract

 

[Juicin]

Yes this belongs in politics, because it is politics that is killing small businesses across the country.
I have been saying this for 3 months with little response even on this forum. We are entering into a place this country has never been before - the near complete loss of small businesses. In our locale, nearly 1/3 are closed indefinitely or permanently. It is the same everywhere.

So why is the news barely covering this??

Because the investment/financial class couldn't think of a better thing to happen. You can't invest in a small business. You can't cut 5% cream off the top by playing in the stock market... because they are not there. As every small business closes, in all likelihood the market will be assumed by a corporate box store. Or via online. And THAT can be invested in. So as small businesses close, this opens the door for $100s Billions in investable commerce that is off limits to them now.
And what will be the result - and even greater concentration of wealth.

Long live corporatism.

https://www.washingtonpost.com/business/on-small-business/small-businesses-are-dying-by-the-thousands--and-no-one-is-tracking-the-carnage/2020/08/11/660f9f52-dbda-11ea-b4f1-25b762cdbbf4_story.html

CEOs to Congress: A lot more small businesses will fail without new aid

The executives painted a dire picture: mass business closures as coronavirus cases surge and the recession deepens.

www.seattletimes.com

A tale of two pandemics: Big-box stores rake in record profits while small businesses fold

As consumers shift to bulk-buying and one-stop shopping, the pandemic is driving a wedge between the haves and have-nots across the retail industry.

www.nbcnews.com

Most small businesses fail with or without corona

Just the nature of the market

Well yah. But they were shut down. And now there's no testing to determine who in a business establishment is, or isn't, infected. The econ simply is not going to rebound until the virus is contained.

But to the OP, the answer, to why the failure of small biz is not the most important issue, is simply that at this moment in time news consumers want to hear of something else. Trump supporters want us to believe a "race riot" is coming to our neighborhood … when if we ever had "race riots" it was before most were born, and the blacks aren't coming for us anyway. And some Biden supporters are predisposed to ignoring any provocation a black suspect gives to cops, and others are concerned Biden's letting Trump distract

Sure it will, we could just start ignoring it like we do every other form of cold

Less than 10,000 healthy americans have died from this. Everyone else had a major co morbidity