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Is a Snit Head
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Is this really just a millionaire thing? I'm in the middle class and COVID has been incredible for me financially. I can't spend money on anything. So all the debt that I had is gone and I've got a good amount of cash in my bank account right now. Like this has been really good for me.

And I know a ton of people that are making more money on unemployment they were working. My mother is upset she has to go back to work next week because she's taking a pay cut.
 

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Is this really just a millionaire thing? I'm in the middle class and COVID has been incredible for me financially. I can't spend money on anything. So all the debt that I had is gone and I've got a good amount of cash in my bank account right now. Like this has been really good for me.

And I know a ton of people that are making more money on unemployment they were working. My mother is upset she has to go back to work next week because she's taking a pay cut.
There is that LOL

Like always it's the lower class who take the brunt because of not so good employment contracts. The government hopes the middle class will get out there and spend what they have amassed, instigating a V shaped recovery. That way any tax rises can be implemented softly. What stands in the way of that is covid being such an unknown and some places having one prolonged wave. Additionally, socializing isn't so fun during a pandemic, so it's likely many service sector/hospitality/suppliers/big companies will have dire year in terms of profit. So realistically you'd expect middle class roles to gradually go in the second half of the year. If that happens there is less spending in the build up to Christmas due to people playing it safe (holding on to savings). It's a summer race of spend, spend vs cut, cut.
 

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Magic, sparkles and Strap-ons!
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14,319 Posts
The wealthy always do good during a crisis like this. When you have enough money, the money you have just makes more for you.

Maybe vince can do some faux activism like every other rich person and company is doing now.. while raking in record returns.
 

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WWE stock is back up. According to the article, it was $30 in March and is now back up to $43.

It went from $90 something to $40 something, which means that it went down by more than half and still hasn't recovered. He also lost money on XFL, Wrestlemania and live events.The pandemic hammered them and they had to fire/release a lot of contractors and employees. And we are supposed to believe that he still got richer?

Yea, not buying it for a second,
 

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I'll take you down the only road I've ever been do
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52,220 Posts
Discussion Starter #25
It went from $90 something to $40 something, which means that it went down by more than half and still hasn't recovered. He also lost money on XFL, Wrestlemania and live events.The pandemic hammered them and they had to fire/release a lot of contractors and employees. And we are supposed to believe that he still got richer?

Yea, not buying it for a second,
Hey, I don't care what people believe. But if you read the article, it sounds legit and there is a graph there that not just for Vince, but other wealthy people in CT, as well.
 

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Hiding in the shadows
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Sir Winston Churchill, said near the end of WWII, "Never let a good crisis go to waste".

I think we can apply that same logic, using WWE and Vince McMahon himself, as modern-day examples of that.
 

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The Empire will Reign again
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16,949 Posts
Is this really just a millionaire thing? I'm in the middle class and COVID has been incredible for me financially. I can't spend money on anything. So all the debt that I had is gone and I've got a good amount of cash in my bank account right now. Like this has been really good for me.

And I know a ton of people that are making more money on unemployment they were working. My mother is upset she has to go back to work next week because she's taking a pay cut.
That's just an indictment on how little American workers get paid.
 

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Not surprised at all. He look advantage while there were no other live sports on. WWE kept going because it was deemed essential.
 

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It's a good feeling. Myself and a lot of others have done the exact same thing, definitely a positive thing in today's day and age.
 

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Still leaves Vince a billion down on his net worth two years ago.

Unsurprising really. The XFL caused others to lose money. The company is sitting pretty while that USA and FOX money rolls in and the government do everything to keep the Dow steady. Plus the last quarterly figures were strong and they adapted ruthlessly, plus being deemed essential helped.

End of July, when the next figures come out, will be worth keeping an eye on. The network paid subscriber number might be really bad. Everything else will be nonexistent, highlighting a deep reliance on two deals. More info on sex allegations and how they've handled covid. Might make investors jittery.
I think the network subs will be pretty good cause of the undertaker last ride series.
 

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The wealthy always do good during a crisis like this. When you have enough money, the money you have just makes more for you.

Maybe vince can do some faux activism like every other rich person and company is doing now.. while raking in record returns.
If a Recession is just a garage sale for the rich
Then a depression/pandemic is the equivalent of a Going Out Of Business sale that they got 1st dibs in line on
 
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