As Homer Simpson Once Said, "Doh!"

[Anderton]

News item about Patreon laying off 17% of its workforce:

 

"The pandemic introduced volatility to the broader trend, starting with a rapid acceleration during COVID lockdowns. In response, we built an operating plan to support this outsized growth, but as the world began recovering from the pandemic and enduring a broader economic slowdown, that plan is no longer the right path forward for Patreon."

 

As to the music industry, which of the following statements is NOT correct:

 

• People were stuck at home during a once-in-a-hundred years epidemic
• They worked from home, freeing up hours of commuting time to do other things.
• They received stimulus money, and since they couldn't go out and spend money, they bought things they could do at home
• There was a big boom in sales for music and recording gear
• Music industry companies realized this obviously couldn't go on forever, and made prudent plans to accommodate a slowdown in sales after the pandemic abated.

 

Doh!!

 

Perhaps this phenomenon deserves a name, like "The Peloton Effect."

[RABid]

The government calls the payout of money a stimulas. What are they going to call the tax increase and/or service cutbacks when we have to pay it back?

[Anderton]

3 hours ago, RABid said:

The government calls the payout of money a stimulas. What are they going to call the tax increase and/or service cutbacks when we have to pay it back?

 

It will be called "things-are-back-to-normal-now-and-you-have-a-job-so-pay-your-effing-taxes."

 

This is one instance where I can fault how the PPP program was handled on various levels, but I can't fault the concept. Given that it was implemented in administrations from both parties, at least it was something they agreed on. I work with one pretty large business that said it would have gone under if it hadn't been for PPP. But they were able to keep people employed, stayed in business by the skin of their teeth, and are finally back to doing well. Their being in business means they will continue to pay taxes, which will probably pay back what they got from PPP in a year or two. The people who kept their jobs will also keep paying taxes.

 

An analogy would be like getting a loan to do a major car repair, because you can't go to work without your car. You get the car fixed and can keep working, so you can pay back the loan.

 

There's no way to know for sure, but both admins said that without the stimulus money, the economy would have gone off a cliff. I'm no economist, but that seems logical. The economic and social problems caused by a major depression would probably have been more than the economic and social problems caused by trying to prevent it in the first place.

 

That said, I think this is another one of those situations where an intractable problem means there's no good solution, only less bad ones. And because some people really suck, they'll try to take advantage of something and screw things up for the rest of us. The company I mentioned did exactly what they were supposed to do - use the money to stay afloat, not to have the CEO buy a yacht. Not every recipient was so scrupulous.

 

 

[David Emm]

*SIGH* The older I get and the better I understand these matters, the more I watch "She-Hulk" and fine-tune my Memorymoog patches. We finally got flying cars, but the lack of practicality has blunted the thrill. I enjoy videos of the exotic wrist-mounted turbines that give the wearer the Iron Man effect in spades. I also know that A) its already drawing military interest, so gird yourself for that inevitable aspect and B) the first time John F. Public can buy them, it'll be a matter of mere weeks before someone ends up on a windshield like a 140-pound fly. The most dangerous thing in the world is We The People. Too many of us are looking to play The Brown Note.    

 

Rule of thumb: If the government calls it a pony, ask why it has those two huge horns on its nose. 🦏