Second Quarter GDP estimate

I'm not 100% sure, but I think you can get paid for blowing the whistle on these guys. And I think you can do it anonymously:

https://www employmentlawgroup com/what-we-do/whistleblower-protection-rewards/sba-ppp-paycheck-protection-whistleblower-attorney/

If this doesn't exist, they should have this anytime the gov't puts out so much money to rescue the economy. But to be honest, I'm actually not sure why they didn't just let the companies lay off the employees, and just use the unemployment system to tide people over until the pandemic ended. Giving free unsupervised money to CEOs and small business owners just seems to me to be asking for trouble.

I do know bussiness owners who spent the PPP on very big boats

I know a lot of small businesses that got the loans but their revenue never fell. They just used to money to cover payroll expenses. Some of the business I know actually had to expand payroll That should be illegal. But it’s not.

“PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

Employee and compensation levels are maintained,

The loan proceeds are spent on payroll costs and other eligible expenses, and

At least 60% of the proceeds are spent on payroll costs.

So how could payroll be down 60% and they are still eligible for forgiveness?

There no crime. Business’s got 10 weeks of payroll expenses that they had to use for payroll expenses over a 9 month period. Even if a business's sales were down by 60%, the revenue covered the payroll costs which was often also down by 60%. Since the revenue covered the payroll costs, owners put most of the grants in their pockets. It was a very poorly put together program.

It was an example of how "intent" when creating a government program is completely different than "results ".

According to the Cleveland Fed Reserve:
“Overall, PPP loans appeared to reach about 76 percent of US small businesses and to have covered 97 percent of a 10-week period of their payrolls. In addition, PPP loans of $5.3 billion were provided to 335,982 businesses that we identified as likely having no employees.”

5.3 Billion dollars from 2020 and 21 is not floating the economy seven months into 2022.

There is no such thing as Accountant/Client privilege. Isn’t it your duty to report these crimes. By not reporting them you’re just as guilty as they are. No?

Today as we speak , there are thirteen states that still give individual monthly Covid checks.

ro_ri54, I am saying that there were many types of grant were people got lots of money... federal unemployment of $600 per week (in addition to state unemployment) paid people much more than than what they did make from a job.

As a CPA, I saw many small business owners got +$200k in Payroll Protection Plan (PPP) grants and usually spent less than 20% of the money on payroll (they complied with all regulations). These business owners were often able to increase their savings (tax free) with 80% of their PPP grant.

Where is the college tuition?

Hey wait a damn minute. Where is my “huge grant”?

~Scamp

@Irun...are you saying people are still spending the 1,400 dollar check?

As Biden days it’s all because it’s ….Russia , Russia , Russia..

The only reason why we haven't gone into a recession yet is because people are still spending the huge grants the government had given out.... but, those same grants are causing the inflation.

Soon, we will be in an recession, with high inflation, interst rates will be equal to what they were pre-2008 recession (up 2 to 3 points from current interest rates), the interest on the federal debt will be equsl to 25% of all federal spending

The Elites Schwab kind of people were bankrupting the entire World economy so they could bring in their great reset, ya know the one where you will own nothing and be happy. The white hats AKA alliance said nope fuck that, but they are bringing in their reset which is the Jubilee wealth redistribution on a fare scale for the whole World. Its coming to the point where no other countries will sell oil to Biden, these countries are all on the brics system which will not accept the Fiat dollar no longer. They thought they were hurting Putin Russia? Their economy is booming. This shit is still going to get worse, but the white hats and alliance are no doubt in control. Have faith because like Trump told us, " the best is yet to come "

Mickey

As soon as gas drops below $4, these Biden Haters need to kneel, and apply their choice of lip moisturizer, Vaseline, Chapstick, Beeswax, etc., and commence to sucking either Biden's dick or asshole.

Remember, Biden did it!!!

“Oil falling ”

Whaaat?

Gas prices are lowering. Biden must be doing it. No?

From the Atlanta Fed. Down 2.1% ….This is just an estimate final numbers will be out later this month . Oil falling all indicates a recession is here. ..