$100B Hospital bailout
03-21-2020, 02:42 PM
#1
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$100B Hospital bailout
https://www.cnn.com/2020/03/21/polit...age/index.html
Some hospitals are running low on cash after canceling many elective procedures to devote more resources to the coronavirus outbreak.
Executives from three hospitals across the country detailed their dire fiscal conditions on a conference call Saturday hosted by the American Hospital Association. This may force some to close their doors just as the need for care skyrockets amid the pandemic.
The lobbying group, along with the American Medical Association and the American Nurses Association, are pressing congressional lawmakers to provide them with $100 billion in the stimulus plan that's now being hammered out on Capitol Hill.
The emergency fund would help cover lost revenue from suspending many elective procedures -- which can be lucrative for hospitals -- and pay for additional staffing, supplies, facility expansions and other costs related to the coronavirus pandemic, the industry groups say.
Executives from three hospitals across the country detailed their dire fiscal conditions on a conference call Saturday hosted by the American Hospital Association. This may force some to close their doors just as the need for care skyrockets amid the pandemic.
The lobbying group, along with the American Medical Association and the American Nurses Association, are pressing congressional lawmakers to provide them with $100 billion in the stimulus plan that's now being hammered out on Capitol Hill.
The emergency fund would help cover lost revenue from suspending many elective procedures -- which can be lucrative for hospitals -- and pay for additional staffing, supplies, facility expansions and other costs related to the coronavirus pandemic, the industry groups say.
03-22-2020, 05:09 PM
#2
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It's almost comical how bad this is getting. I mean, if it weren't actually happening and if our careers and livelihoods weren't evaporating in front of our eyes, you almost couldn't write a script that was full of this much clusterphuck.
With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.
####.
With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.
####.
03-22-2020, 06:32 PM
#3
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Originally Posted by Name User
It's almost comical how bad this is getting. I mean, if it weren't actually happening and if our careers and livelihoods weren't evaporating in front of our eyes, you almost couldn't write a script that was full of this much clusterphuck.
With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.
####.
With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.
####.
03-22-2020, 06:34 PM
#4
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Posts: 2,276
Originally Posted by Name User
With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.
03-22-2020, 10:14 PM
#6
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Originally Posted by OOfff
that’s an absurd statement contrary to every bit of investment advice everywhere
03-23-2020, 04:54 AM
#7
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Originally Posted by 2StgTurbine
No it's not. Common wisdom assumes a 10 year business cycle. All of the 3 wealth management companies I have used all have an automatic 401k schedule that drastically reduces your exposure to the stock market the closer you get to retirement.
a) don't spend much or
b) invest in equities, in the neighborhood of 40%-50%.
03-23-2020, 06:43 AM
#8
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Posts: 39,211
Originally Posted by 2StgTurbine
If you are within 10 years of retirement, your money should not be in the market.
But even on retirement day, there's a large part of your investment which won't be needed for another 10+ years... that part can be more volatile.
Depends on how much income you expect to derive from interest/dividends vs. draw-down of principle.
03-23-2020, 09:33 AM
#9
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03-23-2020, 09:35 AM
#10
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Originally Posted by badflaps
Can you say 2006?
I can't help to think these are going to be 70% off in less than 12 months.
This is bringing down the whole system...it was so highly strung that it was bound to happen...but jeez this is the nuclear option.
Hey, at least the virus isn't flesh eating.
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