I don't qualify, but if I did I'd probably pay off some bills or invest it in the stock market. The stocks have gone up a lot in the last couple weeks but it's still got a long way to go before it's "recovered" and now is still a good time to buy.
Don’t forget some people live paycheck to paycheck so going out and buying $1000 on rocket kits/motors (as an example) is not really money spent wisely when most need food on the table amongst other necessities when there is zero income.I thought the purpose of economic stimulus checks was to stimulate the economy but maybe I am making it too simple.
Essential people are still working as are others from home so their income hasn't been affected, for them this is extra money. Whether you are spending it on necessities or hobbies you are supporting businesses and stimulating the economy so it is being used as intended.Don’t forget some people live paycheck to paycheck so going out and buying $1000 on rocket kits/motors (as an example) is not really money spent wisely when most need food on the table amongst other necessities when there is zero income.
The point of the check is to help stimulate the economy by presumably doing 2 things: helping folks pay bills, and helping businesses that need income.
Putting it into the stock market is about the worst possible thing to do with it as far as economic benefit to society is concerned. I understand folks wanting to put it into savings, especially if they are on the edge, but otherwise not spending it seems to be contrary to the intent of the money.
Tony
There is really nothing to disagree with - putting the money into the market defeats the purpose of money meant as an economic stimulus.Tony,
I mean this with the utmost respect, but I politely disagree here. Society did not give two ***** about each other when it was time to hoard food, supplies, TP, etc. One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own.
I am damn proud to say that I have done NOTHING different in the lest few weeks (other than working from home, which is getting old already).
Chance favors the prepared mind... Louis Pasteur
So you're still going to the grocery store as often as you used to? That's not helping the problem. We need to reduce the amount that we go anywhere and stay home more often. Just working from home isn't enough, you need to stay out of restaurants, grocery stores, church, and anywhere else you used to go on a regular basis. Or at least reduce the frequency you go.Tony,
I mean this with the utmost respect, but I politely disagree here. Society did not give two ***** about each other when it was time to hoard food, supplies, TP, etc. One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own.
I am damn proud to say that I have done NOTHING different in the lest few weeks (other than working from home, which is getting old already).
Chance favors the prepared mind... Louis Pasteur
There is really nothing to disagree with - putting the money into the market defeats the purpose of money meant as an economic stimulus.
Forgetting about the social implications of your statement, surely you must have some small local businesses that can benefit from your renewed business when they reopen? While you may not need the money, plenty of other folks will. I'm not saying to hand out the money, but earmark it for your favorite local businesses and spend it as soon as they are back open for business. You'll still get a benefit of the extra money, but more importantly, those whose businesses have really suffered will see the benefit and it hopefully keep them going.
You don't seem like the kind of person that would turn your back on your neighbors, this is our opportunity to show the nature of character.
Tony
PS: I did completely rewrite this post to take a less negative tone.
So you're still going to the grocery store as often as you used to? That's not helping the problem. We need to reduce the amount that we go anywhere and stay home more often. Just working from home isn't enough, you need to stay out of restaurants, grocery stores, church, and anywhere else you used to go on a regular basis. Or at least reduce the frequency you go.
To do this you may need to purchase more supplies at the grocery store to tide you over for a month instead of going every week (or however often you go). But don't let anyone catch you stocking up your supplies or they'll accuse you of hoarding food, supplies, TP, etc.
How do you tell if someone is hoarding, or if they're simply stocking up as a responsible person should?
Well said. This whole covid 19 hasn't changed my life. I've always been a home body and basically worked ate dinner and slept. In free time work on my hobbies.Tony,
I mean this with the utmost respect, but I politely disagree here. Society did not give two ***** about each other when it was time to hoard food, supplies, TP, etc. One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own.
I am damn proud to say that I have done NOTHING different in the lest few weeks (other than working from home, which is getting old already).
Chance favors the prepared mind... Louis Pasteur
I am damn proud to say that I have done NOTHING different in the lest few weeks (other than working from home, which is getting old already)
Cooking more, eating take out otherwise, and church from home. So, it seems more than NOTHING different. I congratulate you on being responsible and doing your part to flatten the curve. I too am trying my best to go out as little as possible.I cooked a lot at home before, I cook even more now, otherwise pretty much take out only. Work is remote now (#blessed), church is remote, there is no doubt I am doing my part to flatten the curve.
I was confused why you made it sound like people who were being responsible by shopping less often and therefore stocking up on supplies were, in your view, "hoarders".I'm sorry, what did any of your above post have to do with what your were going to do with your stimulus check?
I go get groceries about once every two weeks. I cooked a lot at home before, I cook even more now, otherwise pretty much take out only. Work is remote now (#blessed), church is remote, there is no doubt I am doing my part to flatten the curve. Speaking of, here is a look at the US as of this evening, and here is my backyard. I'd be a hell of a lot more concerned about needing groceries if I lived on the east coast.
Tony,
I mean this with the utmost respect, but I politely disagree here. Society did not give two ***** about each other when it was time to hoard food, supplies, TP, etc. One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own.
I am damn proud to say that I have done NOTHING different in the lest few weeks (other than working from home, which is getting old already).
Chance favors the prepared mind... Louis Pasteur
I won't disagree with this statement: putting the money into the market defeats the purpose of money meant as an economic stimulus.
Except for...
Cooking more, eating take out otherwise, and church from home. So, it seems more than NOTHING different. I congratulate you on being responsible and doing your part to flatten the curve. I too am trying my best to go out as little as possible.
I was confused why you made it sound like people who were being responsible by shopping less often and therefore stocking up on supplies were, in your view, "hoarders".
You said, "One cannot play the "do what is good for society" card in regard to the government money-check a mere 2-3 weeks after the "its all about me" hoarding was in full swing. People's actions in the last few weeks have validated everyone will be out for their own." in the post that you claimed you were damn proud that you'd done NOTHING different. I was only surprised that what you call hoarding I can see what might be acting responsible, and so I asked how you tell the difference.
So how are you able tell if someone is hoarding (bad) vs stocking up so they go out less often (good)? That's all I was trying to find out.
Actually, it has a very similar effect. When one person buys a stock, someone else sells it. And when the person who sells the stock spends the proceeds, it’s not much different from the stimulus that would have happened had the first person spent it. Even putting it into the bank has a stimulative effect because that money becomes available for someone else to borrow and spend. Probably the only thing someone could do with the money that would not be good for the economy is to put the cash in a mattress, where it’s neither spent nor invested.
So my advice is to do with the money what’s best for your circumstances. Save it, invest it, or spend it. Unless you put the money in a mattress, it will help the economy. Make sure it helps you as well.
I'll answer your questions even though you're refusing to answer my question for some reason.A lot of people bought there fair share, others hoarded. The result was still the same, empty shelves for a lot of folks that arrived late to the party (for many reasons). People hoarding validates everyone will be out for their own during high stress situations, therefore I feel no obligation to spend the stimulus monies in the manner in which it was intended. Call my crazy, but if everyone is acting in their own best interest, why would I not do the same?
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