Sintel Systems Recommends Economic Policies to Combat Coronavirus (COVID-19)
March 18, 2020 04:30 AM EST
LOS ANGELES, CA – Early this morning a Senior member at Sintel Systems Global POS confirmed that his office had offered direct recommendations to a While House Administration Official and a Senior member of the Unites States Congress with simple decisive actions that would offer immediate relief to the American people with little bureaucracy, administrative burden, and cost to the Government.
AWhen asked to identify the officials, he said “They are both extremely smart individuals dedicated to the wellbeing on the American public, but from different sides of the isle. Let’s us focus on the proposal.” The Senior management member also asked for anonymity since his identity would be connected to the Officials.
In the last few days government officials, experts and policy makers have floated the idea of issuing each eligible adult American a $1,000 check. Ideas such as this are well intended, the logistics of identifying eligible individuals, the Congressional approval needed, and the administrative burden pose a sizable challenge and would take a minimum of two weeks to execute. This would be amidst a pandemic that is not only evolving daily, but having local governments react with panic while the American public and businesses face great uncertainty. Action with immediate effect to ensure the American public is needed to avoid allowing the virus to send the US and by extension the global economy into recession. “We need to understand that perception is winning this war now,” commented Sintel Systems.
The policy put forth by Sintel Systems is simple and the current financial structure is in well positioned to facilitate it due the following:
1) The United States banking systems is well capitalized.
2) The United States Federal Reserve has cut the benchmark interest to zero allowing banks to borrow further funds at zero percent.
3) The Federal Reserve has acted aggressively with purchases to include bills, notes, Treasury Inflation-Protected Securities and other instruments upwards of $1 trillion as of this week.
4) The employment rates is at an all-time high and maintaining it as such for the time being will shorten and lessen any potential recession.
The major expenditure of most household and those most venerable is their home mortgage or rent. The falling interest rates have sparked conversation around a refinancing boom that would lower mortgage payment, but:
1) Interest rates fell to historic lows last week as the 10-year Treasury dipped below 0.60 percent, the treasury market has relatively stabilized and mortgage rates have increased.
2) The prospect of lower rates and refinancing would still require the borrower to have an income.
3) It can take 30 days or more to refinance.
A good portion of the quick action taken against Coronavirus has been led by the Corporate sector. This proposal can also be facilitated very quickly by a willing corporate sector specially the banking sector who received substantial assistance from the US taxpayer in the financial crises of over a decade ago.
1) Allow all Americans to skip their mortgage payment for the next 90 days. The payments are not forgiven, but rather deferred. In case this represents a cash flow challenge to a bank, the financial institution can borrow the funds at zero or have the Federal Government
2) Renters are as important and they can be divided into those residing in 1-4 unit residential and those larger settings. i
3) A great majority of Americas also rent and they can be helped in two ways. One would be a direct rental assistance.
4) Small Business is the heartbeat of the US economy and the above measures will elevate the pressure on them as well. The average small business owner has a mortgage which represents their biggest expense. Absent a mortgage, they will be able to idle their business more. It can also be assumed that a majority of those who work for a small business are renters. Absent the stress of a rent they will be able to sustains themselves with a smaller paycheck and be available once this passes.
“The concept is simple and effective. We hope that that all those involved show the leadership necessary to navigate us out of this and into the next decade of prosperity,” commented the member of Sintel Systems before heading back to his office.
2) Renters are as important and they can receive assistance in two way.
About Sintel Systems (Relevant):
This is part of a press release typically reserved for a company to discusses their templated “About Us” section. Sintel Systems believes that the seriousness of the matter demands that we speak on why Sintel Systems holds any authority to engage in the COVID-19 discussion and solutions.
As a leading point of sale (POS) solution provider, Sintel Systems has direct insight into the pace of economic activity from fast food restaurants to all types of retailers. Our partners like Visa, MasterCard, and Total System Services (TSYS) have a vast insight into transactions with credit cards, but Sintel Systems has real time data on all transactions. Sintel Systems greater visibility is credited to its omni-channel solutions that include drive thru and online/mobile ordering with delivery POS technology. The company has seen increased activity in its drive thru and online ordering POS transactions; however, the increase in activity may not be sustainable for an extended period of time. Drive-thru and online ordering are an essential but complimentary part of an operation, but will not replace the in restaurant experience over the longer time period.