Coronavirus & Possible Economic Recession

[DMX7]

I didn't think it was going to be big deal but it may be. The hospitality and travel industry are already doing hiring freezes, delays to salary increases, etc. It's not looking good. Conferences are getting cancelled and more. This is why you don't run massive deficits during good economic times because they will explode even bigger if we do get a recession. Naturally the Federal Reserve has little it can do. Sad.

[CosmicCowboy]

I got laughed at a few days ago when I said interest rates could be headed to zero. I expect another rate cut in two weeks at the Feds next scheduled meeting. The 10 year is already down to .9%

[DMX7]

I got laughed at a few days ago when I said interest rates could be headed to zero. I expect another rate cut in two weeks at the Feds next scheduled meeting. The 10 year is already down to .9%

In Trump's dream world the federal reserve would have negative interest rates. Yeah, that's worked really well for other countries. :rolleyes

[hater]

great time to refinance. 30 yr rates could be < 3% :wow

[hater]

In Trump's dream world the federal reserve would have negatie interest rates. Yeah, that's worked really well for other countries. :rolleyes

this will most likely happen

[picnroll]

I got laughed at a few days ago when I said interest rates could be headed to zero. I expect another rate cut in two weeks at the Feds next scheduled meeting. The 10 year is already down to .9%

Isn’t going to help, economies toast. Trump’s going to have to find a new story to sell.

[boutons_deux]

Coronavirus Impact on Airlines Has Warren Buffett Down $2.7 Billion Year to Date

https://247wallst.com/transportation/2020/03/05/coronavirus-impact-on-airlines-has-warren-buffett-down-2-7-billion-year-to-date/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall +St.%29

[boutons_deux]

US airlines are waiving fees and canceling domestic flights as coronavirus spreads

Global air travel is expected to decline for the first time since 2009.

https://www.vox.com/the-goods/2020/3/5/21166359/us-airlines-coronavirus-cancel-flights-waiving-fees (https://www.vox.com/the-goods/2020/3/5/21166359/us-airlines-coronavirus-cancel-flights-waiving-fees)

[boutons_deux]

Futures plunge on virus fears as California declares emergency


the epidemic could hit revenue at passenger airlines by up to $113 billion

https://www.reuters.com/article/us-usa-stocks/futures-plunge-on-virus-fears-as-california-declares-emergency-idUSKBN20S1MX?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29 (https://www.reuters.com/article/us-usa-stocks/futures-plunge-on-virus-fears-as-california-declares-emergency-idUSKBN20S1MX?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29)

[Will Hunting]

I got laughed at a few days ago when I said interest rates could be headed to zero. I expect another rate cut in two weeks at the Feds next scheduled meeting. The 10 year is already down to .9%
Yeah you’re not wrong for saying that but imo the fed doing this was dumb. Didn’t do anything to calm people down and all it’s going to do is create a giant amount of uncertainty within the capital markets that freezes money up.

[TheGreatYacht]

great time to refinance. 30 yr rates could be < 3% :wow

I'm waiting for the economy to officially tank and interest rates to drop down to recession numbers so I can refinance my small close to $50k balance on my home.

[Will Hunting]

I'm waiting for the economy to officially tank and interest rates to drop down to recession numbers so I can refinance my small close to $50k balance on my home.
Rates are already below recession numbers :lol

[Winehole23]

Rates are already below recession numbers :lol12 years of interest rate suppression. When the music stops the Fed won't have much downside to play with

[CosmicCowboy]

In Trump's dream world the federal reserve would have negative interest rates. Yeah, that's worked really well for other countries. :rolleyes

Uhhh the president doesnt control the fed.

[CosmicCowboy]

12 years of interest rate suppression. When the music stops the Fed won't have much downside to play with

Yep

[picnroll]

Uhhh the president doesnt control the fed.

Not for want of trying. If Trump had had his way we’d have had negative rates a year ago.

[CosmicCowboy]

Not for want of trying.

Like any President.

[DMC]

In Trump's dream world the federal reserve would have negative interest rates. Yeah, that's worked really well for other countries. :rolleyes

In Sanders' dream world, all loans would be forgiven.

[Will Hunting]

12 years of interest rate suppression. When the music stops the Fed won't have much downside to play with
Pretty much.

[DMC]

Rates are already below recession numbers :lol

:lol TGBY showing his poverty

[DMX7]

Uhhh the president doesnt control the fed.

He appointed the fed chair and he berates him constantly demanding negative rates. That’s what I’m talking about.

[picnroll]

He appointed the fed chair and he berates him constantly demanding negative rates. That’s what I’m talking about.

... and if he gets re-elected him replace the chair with some yes man flunky. He would have already but he got push back from his own cabinet. The only thing Trump knows about economics is how to float crooked loans.

[TheGreatYacht]

Rates are already below recession numbers :lol

Wait, so if the economy tanks and we have a recession you mean I won't get any better interest rates than now? Damn...better start looking for a bank then. My current mortgage rate is 6.25

:lol TGBY showing his poverty

My home is worth $300k. I bought it a little less than 2 years ago. I would say I have a decent home equity available to me. I like keeping my mortgage balance around the $50k-$60k range to maintain my 820 FICO score. Plus, unless you're very super rich to where you can buy cars and yachts in cash, then it's not a smart move to pay off your mortgage early.

[TimDunkem]

Whatever happens, I know I'll still have to go into work. Fml

[DMX7]

SXSW cancelled. Weak...:(

[koriwhat]

SXSW cancelled. Weak...:(

hells yeah! fuck hipsters!

[CosmicCowboy]

Expect fiesta to follow

[DMX7]

Expect carnage on the stock market tomorrow based on today's economic news.

[boutons_deux]

OPEC deals falls through, oil down 30%

will hurt Pootin's hard currency income, aka $US, badly

mild Euro winter probably means his gas sales down, too

[DMX7]

OPEC deals falls through, oil down 30%

will hurt Pootin's hard currency income, aka $US, badly

mild Euro winter probably means his gas sales down, too

Putin is responsible for it. The uptick in Saudi production is because Putin refused on join OPEC in cutting supply and this is how Saudi Arabia is responding -- with a race to the bottom price battle.

[picnroll]

Will slaughter the Permian Basin.

[DMX7]

Will slaughter the Permian Basin.

THe whole state will be feeling the pain. Didn't think the chain events from Coronavirus was going to lead to recession but everything is pointing to it. Trump staked everything on endless growth and now it's looking over.

[picnroll]

Trump is fucked. Trouble is the worse things get the more incredibly stupid decisions he makes. Hence we too are fucked.The perfect storm, multiple crisises and Trump at the wheel.

[DMX7]

this will most likely happen

Do we see 10-year treasury hit negative territory this month?

[boutons_deux]

Trump staked everything on endless growth and now it's looking over.

Trash's 3 years of job creation are less the Obama's last years.

[DMX7]

Trash's 3 years of job creation are less the Obama's last years.

I hope you're happy... I hope you weren't like Bill Mahler and hoping for a recession just to get Trump out.

[picnroll]

10 year treasuries just hit .5
Dorothy we’re not in Kansas anymore.

[DMX7]

10 year treasuries just hit .5
Dorothy we’re not in Kansas anymore.

Things about to get real this week.

[SnakeBoy]

Will slaughter the Permian Basin.

It was reported that this was Russia's play (to kill US shale) once Saudi realized that discussions fell apart. Now Saudi has said fuck we'll kill you too Russia.

Saudi already tried to kill US shale years ago. All it did was cause consolidation and shale producers got even more efficient at producing. Same thing will happen again. Strong will survive and buy up the weak at super discounted prices. Exxon was already targeting break even of $18/barrel in the permian.

Vlad might realize he fucked himself. Russia will lose about a quarter billion per day if prices stay in the low 30's. For an already shit economy that's going to hurt quick.

[DMX7]

It was reported that this was Russia's play (to kill US shale) once Saudi realized that discussions fell apart. Now Saudi has said fuck we'll kill you too Russia.

Saudi already tried to kill US shale years ago. All it did was cause consolidation and shale producers got even more efficient at producing. Same thing will happen again. Strong will survive and buy up the weak at super discounted prices. Exxon was already targeting break even of $18/barrel in the permian.

Vlad might realize he fucked himself. Russia will lose about a quarter billion per day if prices stay in the low 30's. For an already shit economy that's going to hurt quick.

They'll put out of business some of the weaker companies and we'll probably see even more consolidation.

[CosmicCowboy]

I dont think Saudis can afford to ride it out. Their budget is based on $55 oil.

[Trill Clinton]

great time to refinance. 30 yr rates could be < 3% :wow

Yup

[Xevious]

Wait, so if the economy tanks and we have a recession you mean I won't get any better interest rates than now? Damn...better start looking for a bank then. My current mortgage rate is 6.25


My home is worth $300k. I bought it a little less than 2 years ago. I would say I have a decent home equity available to me. I like keeping my mortgage balance around the $50k-$60k range to maintain my 820 FICO score. Plus, unless you're very super rich to where you can buy cars and yachts in cash, then it's not a smart move to pay off your mortgage early.
Why would you have a 6.25 with a FICO score of 820 if you bought your home two years ago? Interest rates haven't been that high since the recession. You shouldn't have been above 5.

[DMX7]

I dont think Saudis can afford to ride it out. Their budget is based on $55 oil.

The Saudis have possibly the lowest breakeven point in the world for oil. If they can't hit a revenue target on price then then they can try to hit it on volume with some help along the way by knocking out competition that can't afford to compete at ultra low prices. Sadly Texas will be feeling some pain. I truly thought this is how the Saudis would respond... maximum pressure on Russia but I just don't know what Russia's end game here is. It could be multiple things.

[DMX7]

Why would you have a 6.25 with a FICO score of 820 if you bought your home two years ago? Interest rates haven't been that high since the recession. You shouldn't have been above 5.

Yeah that doesn't make any sense.

[SnakeBoy]

WTI $27
Brent $32 now

Like a rock

[hater]

6,25 is high as shit :lmao. you got a criminal record ma niga TGY?

[DMX7]

Get ready for the most attacks on the media you've ever heard in your life from Trump. When the news is bad, Trump takes it as his cue to attack the messenger. And the news is about to get really awful.

[DMC]

Expect a mushroom cloud over the universe

[DMC]

SXSW cancelled. Weak...:(

That's great actually, if you live in Austin and don't drive Uber or a cab and don't bar tend.

[TheGreatYacht]

Why would you have a 6.25 with a FICO score of 820 if you bought your home two years ago? Interest rates haven't been that high since the recession. You shouldn't have been above 5.

6,25 is high as shit :lmao. you got a criminal record ma niga TGY?

My bad that was my old mortgage that I paid off when I bought my current home :lol. Back then I was barely starting to build my credit and the economy was booming before the Bush Jr economic crash happened.

So I just double checked my current mortgage statement and my rate is 4.25%.:tu

[spurraider21]

:lol just making shit up

[baseline bum]

hater finally right, WWVII imminent

[DMX7]

I should change this thread title to "Coronavirus & Guaranteed Economic Recession"

[boutons_deux]

Russia's end game here is..


Hurting America oil business bankruptcies restaurants bankruptcies retail bankruptcies health system overwhelmed in general political turmoil under the malfeasance of trash and his Mafia, AKA Putin's long game

Russia depends on oil sales for hard currency in dollars

Putin taking a big hit with the low oil price means he's got some other objective in mind

He would be making billions more if he had agreed with OPEC

[DMX7]

Hurting America oil business bankruptcies restaurants bankruptcies retail bankruptcies health system overwhelmed in general political turmoil under the malfeasance of trash and his Mafia, AKA Putin's long game


This is a very strong possibility.

[CosmicCowboy]

Hospital stock should be good when they can charge for parking patients in the hall.

[Winehole23]

Hospital stock should be good when they can charge for parking patients in the hall.Seems like everything bad that happens is just a money-making opportunity for you.

[Winehole23]

For the first time in history, the yield curve for all US Treasuries is below 1%.

Central banks can't and shouldn't do everything when bonds are essentially telling governments to start spending money to mitigate lost demand.

1237032412456136706

[CosmicCowboy]

Seems like everything bad that happens is just a money-making opportunity for you.

Fuck off Mr. Doom and Gloom. This shit is gonna be really nasty and kill a lot of people. Maybe even me. Doesnt make what I said wrong.

[DMX7]

10 year treasuries just hit .5
Dorothy we’re not in Kansas anymore.

Hit under .3 today
Trump is overseeing one of the most spectacular economic collapses in history.

[Winehole23]

Fuck off Mr. Doom and Gloom. This shit is gonna be really nasty and kill a lot of people. Maybe even me. Doesnt make what I said wrong.How was I supposed to tell you cared? That's the first time you've mentioned an impact other than on your own pocketbook.

[DMC]

Inovio (INO) Stock Rises 69.70% as Human Trials of Coronavirus Vaccine Will Start in April


One mans ressession is another mans boom.. etc

[DMX7]

Inovio (INO) Stock Rises 69.70% as Human Trials of Coronavirus Vaccine Will Start in April


One mans ressession is another mans boom.. etc

What are you looking at? It's down 30% right now.

[hater]

Dear Dr Paul :tu


https://twitter.com/ronpaul/status/1237066293880270849?s=21

[Winehole23]

Finally, some bold ideas for dealing with the pandemic from the US Congress.

1237060153687539714

[DMX7]

Finally, some bold ideas for dealing with the pandemic from the US Congress.

1237060153687539714

Let me guess... tax cuts?

[CosmicCowboy]

How was I supposed to tell you cared? That's the first time you've mentioned an impact other than on your own pocketbook.

I have made multiple posts seriously discussing the future ramifications and not just about investments.

[CosmicCowboy]

For those of you that hate insurance companies, you can take comfort that they are getting slaughtered today.

[DMC]

What are you looking at? It's down 30% right now.

Yeah but I pointed out a month ago. Look at where it was then.

[Will Hunting]

Dear Dr Paul
:tu


https://twitter.com/ronpaul/status/1237066293880270849?s=21
The latest 50 BPS rate cut unquestionably sparked a lot of this panic. Incredibly stupid monetary policy to keep slashing rates in what was considered a good economy.

[DMX7]

The latest 50 BPS rate cut unquestionably sparked a lot of this panic.

I don't agree with that but it didn't do anything to help for what should be obvious reasons.



Incredibly stupid monetary policy to keep slashing rates in what was considered a good economy.

Oh, and we've been running spectacular fiscal deficits to make matters worse.

[Winehole23]

I have made multiple posts seriously discussing the future ramifications and not just about investments.You just made a crack about investing in hospitals when they run out of beds and start leaving people in the hall.

You can't help yourself, all this is just a game to you -- a very lucrative game.

[DMX7]

You just made a crack about investing in hospitals when they run out of beds and start leaving people in the hall.

You can't help yourself, all this is just a game to you -- a very lucrative game.

It's very sad, and yet the degree of cruelty is remarkably similar to that of many other posters (eg, Koriwhat).

[boutons_deux]

"a study" showed that people turn into pricks when they get lots of money, non empathetic sociopaths

[DMC]

You just made a crack about investing in hospitals when they run out of beds and start leaving people in the hall.

You can't help yourself, all this is just a game to you -- a very lucrative game.

So is it better if he just sits there and cries about it like you're doing? At least he's doing something about it even if it's only capitalizing. I swear to God, the amount virtual signaling you fuckers do here is pathetic.

[Spurs Homer]

Every trump business venture has ended in financial disaster - and he just reneged on everything and moved on and blamed everyone and everything but himself ...

when he defaulted on a 400 million dollar loan (after he had already defaulted on hundreds of millions more) from Deutsche Bank - using the "force majeure" clause meaning (an act of god) provision in the loan agreement - (which not surprisingly - was a convenient clause that Justin Kennedy had availed to trump (you know - kennedy - the SON of the SCOTUS kennedy - whose father mysteriously decided to retire as soon as trump asked him to - that Justin Kennedy at Deutsche Bank)

to sue Deutsche Bank for the 400 million - accusing Deutsche Bank of being responsible for that "act of god" and refusing to pay the 400 million...


trump did this with every business failure and guess what - Deutsche Bank decided - to give him more loans - hundreds of millions more - because Russian "donors" took trumps risk each and every time...


why would destroying the US economy be any less concerning to Trump?

Why would anyone think that the shit-storm we are now seeing and feeling -



was anything OTHER than predictable?


Now we are suddenly facing ANOTHER - "force majeur" -

you guys can believe this is all just coincidental if you want...

[Winehole23]

So is it better if he just sits there and cries about it like you're doing? At least he's doing something about it even if it's only capitalizing. I swear to God, the amount virtual signaling you fuckers do here is pathetic.Discussion of issues happens on discussion boards.

Get over it.

[rjv]

the fed and central bank have been subsidizing banks and financial companies for the past decade and, in the process, broke their own interest rate tool needed for these scenarios. everytime the fed wanted to raise rates, it capitulated to trump (as if did with Obama). in addition, most of the corporate profits of 2018 were from windfall tax cuts and most of the profits went to other financial markets (fortune 500 businesses spent $1.2 trilion in stock buybacks between 2018-19). this created both a larger bubble and an inflated stock market. so the 25% run up in US stock over the past two years was generated by tax cuts and reduced fed rates. almost nothing went into the actual economy (as shown by a contracting PMI over the past two years). we have no effective tools left to stabilize the economy should the banks start freezing and the central banks can't bail them out fast enough. so, look for more cuts on government programs and business tax cuts and quantitative easing (aka, 'large scale asset purchases').

[picnroll]

What happened to updates on the number of people with Coronavirus virus? Trump think suppressing information so people go about their usual routines, exposing themselves is good policy?

[spurraider21]

What happened to updates on the number of people with Coronavirus virus? Trump think suppressing information so people go about their usual routines, exposing themselves is good policy?
hoping they wont notice until after november tbh :lol

[CosmicCowboy]

It's very sad, and yet the degree of cruelty is remarkably similar to that of many other posters (eg, Koriwhat).

Jeezus...I am painfully aware I could be one of those poor fuckers stuck out in the hallway but until that time I am not going to wallow in fear and self pity. You guys need to lighten the fuck up. That includes Winehole and Boukaki.

[Winehole23]

Jeezus...I am painfully aware I could be one of those poor fuckers stuck out in the hallway but until that time I am not going to wallow in fear and self pity. You guys need to lighten the fuck up. That includes Winehole a Boukaki.You can post whatever you want and other posters can post whatever they want in reply.

Sorry that seems unfair to you.

[phxspurfan]

Hurting America oil business bankruptcies restaurants bankruptcies retail bankruptcies health system overwhelmed in general political turmoil under the malfeasance of trash and his Mafia, AKA Putin's long game

Russia depends on oil sales for hard currency in dollars

Putin taking a big hit with the low oil price means he's got some other objective in mind

He would be making billions more if he had agreed with OPEC

But I thought

https://i.kym-cdn.com/entries/icons/original/000/020/925/4dchesss.JPG

[Spurminator]

What happened to updates on the number of people with Coronavirus virus? Trump think suppressing information so people go about their usual routines, exposing themselves is good policy?

Wannabe third world dictator doing wannabe third world dictator things.

[picnroll]

Wannabe third world dictator doing wannabe third world dictator things.

Yep. Taking his cues from his buddies Putin and Kim Jong-Un.

[CosmicCowboy]

You can post whatever you want and other posters can post whatever they want in reply.

Sorry that seems unfair to you.

:lol Not unfair at all. Just a shame you have such a negative outlook on life. I'm gonna enjoy mine until the coronaboogieman gets me.

[picnroll]

The entire country of Italy, 60 million people, is now under lock down.

[hater]

The entire country of Italy, 60 million people, is now under lock down.

WW3

called it

[DMX7]

WW3

called it

WW3? really?

[SnakeBoy]

WW3

called it

You called WW7 tbh

I still give you credit for calling it though

[hater]

WW3? really?

War vs the Virus. the whole world. WW3

[TheGreatYacht]

Problem, reaction and solution. The Coronavirus vaccine was already invented before the flock of sheep got infected. All that was needed was to spread the virus. Fool the masses. And once again, it worked. Or it's working.

[spurraider21]

Problem, reaction and solution. The Coronavirus vaccine was already invented before the flock of sheep got infected. All that was needed was to spread the virus. Fool the masses. And once again, it worked. Or it's working.
where do the jews fit in, tbh?

[Will Hunting]

Problem, reaction and solution. The Coronavirus vaccine was already invented before the flock of sheep got infected. All that was needed was to spread the virus. Fool the masses. And once again, it worked. Or it's working.
Fool the masses for what purpose? The elite class is losing trillions.

[boutons_deux]

EU countries have a policy of "Use it (landing slot) or Lose it"

So airline are flying empty planes to retain their landing slots.

The huge drop in fuel prices now will reduce their loss of spending on fuel (30% of their cost?) to fly empty seats.

[spurraider21]

Fool the masses for what purpose? The elite class is losing trillions.
something something something zionists

[SnakeBoy]

:lol Not unfair at all. Just a shame you have such a negative outlook on life. I'm gonna enjoy mine until the coronaboogieman gets me.

His life is a list of grievances :lol

[picnroll]

Several not good economy records set today.

Bid-ask spreads widen in bond market

In addition to the statistics, there was anecdotal evidence of unusual activity, even for market veterans.

JPMorgan’s Bob Michele told CNBC’s Steve Liesman on “Power Lunch” that there were serious issues making deals in the bond market on Monday, with large spreads between the prices offered by buyers and sellers. He said one of his co-workers told him that at one point there were no offers on a 30-year bond.

“I’ve been doing this 40 years. I’ve never seen that before,” Michele said.

I think it’s a slam dunk to say treasuries haven’t seen their bottom and mortgaging refinancing should be held off.

[Will Hunting]

Several not good economy records set today.

Bid-ask spreads widen in bond market

In addition to the statistics, there was anecdotal evidence of unusual activity, even for market veterans.

JPMorgan’s Bob Michele told CNBC’s Steve Liesman on “Power Lunch” that there were serious issues making deals in the bond market on Monday, with large spreads between the prices offered by buyers and sellers. He said one of his co-workers told him that at one point there were no offers on a 30-year bond.

“I’ve been doing this 40 years. I’ve never seen that before,” Michele said.

I think it’s a slam dunk to say treasuries haven’t seen their bottom and mortgaging refinancing should be held off.
I’m torn between whether or not I should buy a place. Rates are clearly low but I think prices are high. Leaning towards holding off since I think prices come down before rates go up.

[hater]

Problem, reaction and solution. The Coronavirus vaccine was already invented before the flock of sheep got infected. All that was needed was to spread the virus. Fool the masses. And once again, it worked. Or it's working.

your theory is wrong because top government officials are getting sick

https://twitter.com/alihashem_tv/status/1237100073554792448?s=21

[CosmicCowboy]

Trust me on this one. If you have the down payment you should buy now. The combination of price and low interest will never be better. The caveat is if you are looking at near downtown stuff. Crap houses are going for stupid money.

Crap. Thought I copied will hunting post about buying a house.

[SnakeBoy]

Dear Dr Paul :tu


https://twitter.com/ronpaul/status/1237066293880270849?s=21

End the Fed. Gold Standard!

and Feel the Bern

[DMC]

You just made a crack about investing in hospitals when they run out of beds and start leaving people in the hall.

You can't help yourself, all this is just a game to you -- a very lucrative game.

Discussion of issues happens on discussion boards.

Get over it.

:lol

[Winehole23]

:lol
Discussions about the discussions happen too.

[Winehole23]

DMC gets pissy when people have opinions or opinions about those opinions -- on a politics discussion board.

Weird hobby.

[rjv]

the feds boosted overnight repos overnight from $50 billion to $150 billion. this is just a more benign form of quantitave easing; since last september the fed has dumped more than $500 billion into the market.

[Winehole23]

the feds boosted overnight repos overnight from $50 billion to $150 billion. this is just a more benign form of quantitave easing; since last september the fed has dumped more than $500 billion into the market.There's also the not-QE that goes something like this: broker-dealers like JP Morgan Chase and Goldman Sachs buy billions of Treasurys when the auction window opens, then the Fed buys them back a few days later at a premium.

[Winehole23]

Low prices and tight credit were already a problem for shale drillers. A prolonged price war could put half of them out of business.




Shale drillers were already facing substantial hurdles with cash flow problems and maturing debt. “We are preparing for two years of low prices and will make the necessary adjustments to maintain our great balance sheet,” Pioneer Natural Resources’ CEO Scott Sheffield told the Washington Post. Pioneer’s share price cratered by 32 percent on Monday.

Assuming prices stay low, Mr Sheffield said that “Probably 50% of the public E&Ps will go bankrupt over the next two years.".https://oilprice.com/Energy/Crude-Oil/Oil-Price-Crash-50-Of-US-Shale-Could-Go-Bankrupt.html

[rjv]

There's also the not-QE that goes something like this: broker-dealers like JP Morgan Chase and Goldman Sachs buy billions of Treasurys when the auction window opens, then the Fed buys them back a few days later at a premium.

hell, banks can borrow from the feds at .15% interest and if they leave the money with the Fed for a while the Fed then pays them at .25%. free money!

[CosmicCowboy]

Trust me on this one. If you have the down payment you should buy now. The combination of price and low interest will never be better. The caveat is if you are looking at near downtown stuff. Crap houses are going for stupid money.

Crap. Thought I copied will hunting post about buying a house.

Doing a refi on the lake house right now...15 year is 2.35%

[Winehole23]

hell, banks can borrow from the feds at .15% interest and if they leave the money with the Fed for a while the Fed then pays them at .25%. free money!They've been doing this for over a decade.

Free shit for banks, TANSTAAFL for you and me.

[hater]

Doing a refi on the lake house right now...15 year is 2.35%

interest rates will be lower around May

waiting on that

[rmt]

I’m torn between whether or not I should buy a place. Rates are clearly low but I think prices are high. Leaning towards holding off since I think prices come down before rates go up.

You should buy, WH - don't wait for prices to go down (it almost always trends upward except 2008ish) - low interest rates more than make up for price (just make sure it's similar to comparable properties) in monthly payment. At least start looking.

[spurraider21]

Doing a refi on the lake house right now...15 year is 2.35%
Translation: i have a lake house

[CosmicCowboy]

Translation: i have a lake house

Translation: that's the interest rate even on a second home, but go ahead and be a snarky, jealous little hater if it makes you feel better.

[ChumpDumper]

Doing a refi on the lake house right now...15 year is 2.35%


Translation: i have a lake house


Translation: that's the interest rate even on a second home, but go ahead and be a snarky, jealous little hater if it makes you feel better.

:lol works every time

[spurraider21]

Translation: that's the interest rate even on a second home, but go ahead and be a snarky, jealous little hater if it makes you feel better.
only your second?

[CosmicCowboy]

only your second?

Since you are so obsessed with my finances, I have more but they are rentals.

[boutons_deux]

eg, Krugman has said a lot of companies are "zombies", walking dead kept alive by low cost debt.

Will covid-19 kill them off?

[spurraider21]

Since you are so obsessed with my finances, I have more but they are rentals.
:lol

[SnakeBoy]

Since you are so obsessed with my finances, I have more but they are rentals.

Now I know why you hate Trump. Took away your deductions didn't he?

[CosmicCowboy]

Now I know why you hate Trump. Took away your deductions didn't he?

You can still deduct taxes on investment property. Cost me about 5K on my personal houses though.

[DMX7]

China is going to emerge from this better than the West.

[Winehole23]

1239238206735990787

[DMC]

DMC gets pissy when people have opinions or opinions about those opinions -- on a politics discussion board.

Weird hobby.

You're saying I have an opinion about opinions about opinions.

Some pigs are more equal than others it seems.

[DMC]

China is going to emerge from this better than the West.

While the US is free to attack their leader for shortcomings, China kills dissenters and somehow that puts them in a better position globally.

[DMC]

Translation: i have a lake house

Not in Breck, I can guarantee you that!

[boutons_deux]

China is going to emerge from this better than the West.

China's leadership certainly thinks so, and nobody is going to punish China's leadership for screwing up.

But, nobody punished BigFinance for the Banksters Great Depression.

BigFinance screwed the planet and emerged wealthier, more powerful than ever.

[DMC]

China's leadership certainly thinks so, and nobody is going to punish China's leadership for screwing up.

But, nobody punished BigFinance for the Banksters Great Depression.

BigFinance screwed the planet and emerged wealthier, more powerful than ever.
You're sure praying that BigPharma saves your ass now though eh?

[Winehole23]

You're saying I have an opinion about opinions about opinions.

Some pigs are more equal than others it seems.

You just underscored my point by going meta-meta-meta for yet another vaguely personalized jab in an exchange that had already died.

Feeling lonely today?

[DMX7]

China's leadership certainly thinks so, and nobody is going to punish China's leadership for screwing up.



Every international company in the world is probably going to be doing a major reassessment of their supply chain with this new reality in mind (virus, trade wars, etc.)

[Winehole23]

Stepping in with QE4 on a Sunday may or may not calm the waters.

[ChumpDumper]

You just underscored my point by going meta-meta-meta for yet another vaguely personalized jab in an exchange that had already died.

Feeling lonely today?:lol "h:crynest br:cryker"

[Winehole23]

Stepping in with QE4 on a Sunday may or may not calm the waters.another limit down NYSE opening bell looks probable.

https://money.cnn.com/data/premarket/

[DMX7]

We’re used to the US being the primary source of economic damage, now it may be EU spreading it to us.

[DMX7]

We’re used to the US being the primary source of economic damage, now it may be EU spreading it to us.

[boutons_deux]

The plumbing behind world's financial markets is creaking. Loudly

The key concern now, as in 2008, is liquidity:

the ready availability of cash and other easily traded financial instruments - and of buyers and sellers who feel secure enough to do deals.

Investors are having trouble buying and selling U.S. Treasuries, considered the safest of all assets.

It’s a highly unusual occurrence for one of the world’s most readily tradable financial instruments.

Funding in U.S. dollars, the world’s most traded currency, is getting harder to obtain outside the United States.

https://www.reuters.com/article/us-health-coronavirus-markets-crisis-ana/the-plumbing-behind-worlds-financial-markets-is-creaking-loudly-idUSKBN2120NJ?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29 (https://www.reuters.com/article/us-health-coronavirus-markets-crisis-ana/the-plumbing-behind-worlds-financial-markets-is-creaking-loudly-idUSKBN2120NJ?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29)

[boutons_deux]

U.S. stock futures plunge despite Fed's emergency rate cut

https://www.reuters.com/article/us-global-markets/u-s-stock-futures-plunge-despite-feds-emergency-rate-cut-idUSKBN2121BM?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

-840 points

[CosmicCowboy]

U.S. stock futures plunge despite Fed's emergency rate cut

https://www.reuters.com/article/us-global-markets/u-s-stock-futures-plunge-despite-feds-emergency-rate-cut-idUSKBN2121BM?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

-840 points

Boutons just came in his tighty whiteys.

[Winehole23]

Boutons just came in his tighty whiteys.


market volatility of the last couple.of weeks has been notable, wouldnt you say

[pgardn]

While the US is free to attack their leader for shortcomings, China kills dissenters and somehow that puts them in a better position globally.

Oh that’s it.

Id say they have a stranglehold over people so it’s easier to get things done when the individual has no rights.
The state always comes first.

[pgardn]

China's leadership certainly thinks so, and nobody is going to punish China's leadership for screwing up.

But, nobody punished BigFinance for the Banksters Great Depression.

BigFinance screwed the planet and emerged wealthier, more powerful than ever.

BS

IF leadership Fcksup other party leaders take their place.
Someone will take a fall at the top if things go badly.

[CosmicCowboy]

market volatility of the last couple.of weeks has been notable, wouldnt you say

Yeah, but unlike Boukaki I'm not rooting for economic collapse.

[DMC]

You just underscored my point by going meta-meta-meta for yet another vaguely personalized jab in an exchange that had already died.

Feeling lonely today?

I don't follow responses, just stumble across them since I turned off notifications. Got tired of the Virus of ST (TGBY) tagging me for his monetization scheme.

[DMC]

So Putin allies with Xi, they release a virus and get it to every state in the US, then Putin starts an oil price war with Saudi to further cripple the economy of the US. At the same time troll farms are all over Africa and other countries tampering with the election and the people in general in the US.

Putin in Boss mode.

[Th'Pusher]

I don't follow responses, just stumble across them since I turned off notifications. Got tired of the Virus of ST (TGBY) tagging me for his monetization scheme.

Just don’t forget who batted you on to the ST trumptrain.

You resisted like a motherfucker but I gave you no options.

Pawed at.

[TDMVPDPOY]

govt down here giving every welfare bludger 750 each, while the working taxpayer gets jackshit in return

even with that 750 what can u buy when alot of the supermarkets basic essentials are sold out due to hording and stockpiling by families...

they going to announce a 2nd stimilus package sometime during the week to avoid recession, fck them chumps we need a recession real bad to reset house prices

[DMC]

Just don’t forget who batted you on to the ST trumptrain.

You resisted like a motherfucker but I gave you no options.

Pawed at.

No idea what you just said.

[Th'Pusher]

No idea what you just said.


Sure you do.

You’ve been pawed into admitting your support for DJT.

You resisted for the longest time.

“I like biden”

“I’m deciding between biden and mayor pete”

But I brought you home to your daddy. And you took him. Full on.

Now you’re just an unserious, full blown (no pun intended) trump supporter. Just like, chris and derp. The guys For who you regularly avenge.

It’s better that you’ve come out of the closet. Now you can openly have shitty heartfelt takes about how well the president is performing.

:lol

Dee Mack!

:lol

[DMC]

Sure you do.

You’ve been pawed into admitting your support for DJT.

You resisted for the longest time.

“I like biden”

“I’m deciding between biden and mayor pete”

But I brought you home to your daddy. And you took him. Full on.

Now you’re just an unserious, full blown (no pun intended) trump supporter. Just like, chris and derp. The guys For who you regularly avenge.

It’s better that you’ve come out of the closet. Now you can openly have shitty heartfelt takes about how well the president is performing.

:lol

Dee Mack!

:lol

I can make an honest assessment without needing to put on a red or blue uniform, unlike you, mouthbreather. My support doesn't automatically go to anyone. They have to earn it. You should try that approach if you didn't need someone to spoon feed you your takes.

You'll never know who I vote for because it's not your business to know. I can give every name on the ballot and you'll eat the breadcrumbs like a dog being led on a leash. You'll never catch on.

[Th'Pusher]

I don't support Trump, didn't vote for him. I can make an honest assessment without needing to put on a red or blue uniform, unlike you, mouthbreather. My support doesn't automatically go to anyone. They have to earn it. You should try that approach if you didn't need someone to spoon feed you your takes.

So when I asked you if you were back to supporting biden after mayor pete flamed out and you said you supported trump, you were lying?

That’s not going to play with “honest broker“ shtick you’ve been playing recently.

You’re either a shitbag troll or a DJT supporter. I’m ok with either tbh.

[DMC]

So when I asked you if you were back to supporting biden after mayor pete flamed out and you said you supported trump, you were lying?

That’s not going to play with “honest broker“ shtick you’ve been playing recently.

You’re either a shitbag troll or a DJT supporter. I’m ok with either tbh.

I'm glad you're ok with either. I was worried about it tbqh. Do I claim to be a shitbag troll or a DJT supporter... shitbag troll... DJT supporter... wow. HUGE decision. Then one night it dawned on me and I went to sleep and haven't thought of you since. It dawned on me that you would be ok with either because that's just how you're constructed internally.

[Th'Pusher]

I'm glad you're ok with either. I was worried about it tbqh. Do I claim to be a shitbag troll or a DJT supporter... shitbag troll... DJT supporter... wow. HUGE decision. Then one night it dawned on me and I went to sleep and haven't thought of you since. It dawned on me that you would be ok with either because that's just how you're constructed internally.

Pawed at

:lol

[boutons_deux]

“WEAK SISTERS”:

FORGET THE DOW.

CREDIT IS THE REAL WALL STREET DANGER

It’s not 2008—but in the credit markets during the COVID-19 crisis, there are signs of extreme financial and economic nervousness.

the action on Wall Street is moving quickly to the credit markets, and

that’s when things can begin to get really scary.

the credit markets are where the rubber meets the road for capitalism.

If businesses can’t get access to the capital they need
to finance payroll,
to pay their bills,
to make expenditures on new projects, or
to simply run things on a daily basis,
then the economic consequences get dire.

companies of all stripes are drawing down the lines of credit that they have from their banks.

This is, of course, a “better safe than sorry” course of action—

take the money down whether you need it or not because otherwise when you really need it you might not be able to get it.

But it’s also a leading indicator of extreme financial and economic nervousness.

Thanks to the reforms in the wake of 2008 financial crisis—

reforms that Donald Trump is eager to try to continue rolling back—

Wall Street banks are much better capitalized now than they were then.

The risk still exists, and plenty of it.

Nowadays it’s contained in what’s known on Wall Street as

the “shadow banking” system,

inside relatively less regulated financial players who buy and sell packages of loans and other risky debt securities.

There are also big credit funds that have sprung up inside any number of private-equity firms and hedge funds.

https://www.vanityfair.com/news/2020/03/credit-is-the-real-wall-street-danger?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_031620&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_031620&utm_term=VYF_Hive

[DMC]

Pawed at

:lol

lmemulatedao!!

[Winehole23]

lmemulatedao!!*brushes his hair in the mirror*

[RandomGuy]

https://www.nakedcapitalism.com/2020/03/the-fed-backfires-shock-and-awe-rate-drop-to-0-emergency-bond-buying-program-leads-to-limit-down-drops-in-us-equity-futures-as-real-world-coronavirus-damage-worsens.html

China is estimated to have negative growth for Q1.

That will ripple, especially as the US and EU shut down simultaneously. Negative feedback.

[boutons_deux]

10-year graph

https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart

[CosmicCowboy]

If you ever fantasized about cheating on your taxes this would be the year to do it.

[Will Hunting]

If you ever fantasized about cheating on your taxes this would be the year to do it.
My prior employer (that I worked for in 2019) went completely tits up and hasn’t sent me a W-2 yet so I’m getting bailed out big time in that regard....not the slightest fucking idea how I’m going to be able to do my taxes without a W-2

[RandomGuy]

My prior employer (that I worked for in 2019) went completely tits up and hasn’t sent me a W-2 yet so I’m getting bailed out big time in that regard....not the slightest fucking idea how I’m going to be able to do my taxes without a W-2

You can do a good faith estimate, if memory serves. Definitely a question for a professional though.

[spurraider21]

My prior employer (that I worked for in 2019) went completely tits up and hasn’t sent me a W-2 yet so I’m getting bailed out big time in that regard....not the slightest fucking idea how I’m going to be able to do my taxes without a W-2
im usually able to put together my own returns (mostly just basic W2's, standard deduction, etc) but this year i had to get some help because i moved states half way through the year, and my employer never updated my withholdings to reflect Virginia taxes... so i ended up overpaying CA a ton and not paying anything to VA.

i would still be wary of filing returns knowing there you have undisclosed income, but yeah hard to know what to do when missing a w2. i mean presumably that w2 would also include your tax withholdings and for all you know would net you a refund, too

[Will Hunting]

Not sure if anyone has posted about this yet, but the Fed's announcement that it's instituting a commercial paper program where it's loaning money directly to non-banks should be getting a lot more attention. It's the right move and I agree with it, but also a sign of how bad things might get.

It's the first time in my lifetime that the Fed has done anything like this and I'm not even sure if the Fed had a direct lending program in place during the Great Depression.

[picnroll]

Not sure if anyone has posted about this yet, but the Fed's announcement that it's instituting a commercial paper program where it's loaning money directly to non-banks should be getting a lot more attention. It's the right move and I agree with it, but also a sign of how bad things might get.

It's the first time in my lifetime that the Fed has done anything like this and I'm not even sure if the Fed had a direct lending program in place during the Great Depression.
What constitute’s a non-bank that they might be lending to. Are they concerned about the solvency of things like Schwab, Vanguard, etc.

[Will Hunting]

What constitute’s a non-bank that they might be lending to. Are they concerned about the solvency of things like Schwab, Vanguard, etc.
They're worried about commercial paper markets freezing up. I might have misstated what they're doing, but in a nutshell they're taking on the risk of owning commercial paper which is something they didn't even do during the financial crisis.

https://www.federalreserve.gov/newsevents/pressreleases/monetary20200317a.htm

[Winehole23]

Mnuchin allegedly warned Republican Senators about 20% unemployment.

That level was last reached in 1935.

[Winehole23]

What constitute’s a non-bank that they might be lending to. Are they concerned about the solvency of things like Schwab, Vanguard, etc.in 2008, broker dealers like Bear Stearns and Lehman Bros and insurance companies like AIG.

That's a good question. I don't know who all might count.

[baseline bum]

Mnuchin allegedly warned Republican Senators about 20% unemployment.

That level was last reached in 1935.

20% unemployment? With cities on lockdown for months and nonessential business shut down I can't imagine that number would be less than 50%.

[RandomGuy]

Not sure if anyone has posted about this yet, but the Fed's announcement that it's instituting a commercial paper program where it's loaning money directly to non-banks should be getting a lot more attention. It's the right move and I agree with it, but also a sign of how bad things might get.

It's the first time in my lifetime that the Fed has done anything like this and I'm not even sure if the Fed had a direct lending program in place during the Great Depression.

Saw that, yes.

I doubt the Fed did anything that inventive in 1929-39

[DarrinS]

20% unemployment? With cities on lockdown for months and nonessential business shut down I can't imagine that number would be less than 50%.


You really think cities will be locked down for months?

I can't see that happening.

[DMX7]

You really think cities will be locked down for months?

I can't see that happening.

Neither can I. Not because the governments wouldn't try but because they couldn't enforce it. People would go crazy and businesses won't be able to survive shut down so long.

[baseline bum]

You really think cities will be locked down for months?

I can't see that happening.

In the best case that China's actually being truthful, Wuhan has been locked down for what, 2.5 to 3 months now to get their outbreak in check.

[CosmicCowboy]

You really think cities will be locked down for months?

I can't see that happening.

It's already happening.

[Winehole23]

So much for moral hazard

1240241025978941440

[boutons_deux]

In the best case that China's actually being truthful, Wuhan has been locked down for what, 2.5 to 3 months now to get their outbreak in check.

and the provincial lockdown was enforced by cops and drones and phone tracking

American lockdowns would be voluntary, and of course Repugs won't cooperate, because socialism and Obama

[Winehole23]

The spectre of real scarcity in the USA is raised

https://www.msn.com/en-us/news/us/us-virus-plan-anticipates-18-month-pandemic-and-widespread-shortages/ar-BB11ktjA

[Winehole23]

Did the hidden hand steal from our day of adversity?

[DMC]

(insert random scare tactic link here)

Be afraid, there's foul play afoot and it's been determined that birth is 100% fatal!

[boutons_deux]

“All Hell Is About to Break Loose”: Could Wall Street’s Coronavirus Tsunami Get Worse?


In the current crisis, private equity, with its mountains of debt, could be the weak link, said a very senior Wall Street banker.

If limited partners don’t kick in cash when asked, things could get very bad.

https://www.vanityfair.com/news/2020/03/could-wall-streets-coronavirus-tsunami-get-worse?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_032020&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_032020&utm_term=VYF_Hive (https://www.vanityfair.com/news/2020/03/could-wall-streets-coronavirus-tsunami-get-worse?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_032020&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_032020&utm_term=VYF_Hive)

[Thread]

“All Hell Is About to Break Loose”: Could Wall Street’s Coronavirus Tsunami Get Worse?


In the current crisis, private equity, with its mountains of debt, could be the weak link, said a very senior Wall Street banker.

If limited partners don’t kick in cash when asked, things could get very bad.

https://www.vanityfair.com/news/2020/03/could-wall-streets-coronavirus-tsunami-get-worse?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_032020&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_032020&utm_term=VYF_Hive (https://www.vanityfair.com/news/2020/03/could-wall-streets-coronavirus-tsunami-get-worse?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_032020&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_032020&utm_term=VYF_Hive)


I told ya's a fortnight ago..."there is no floor. This-will-not-stop."

Forget it. Don't try to address it, don't nurse it. Don't even look at it.

Turn to CoronaPERIOD

[RandomGuy]

“All Hell Is About to Break Loose”: Could Wall Street’s Coronavirus Tsunami Get Worse?


In the current crisis, private equity, with its mountains of debt, could be the weak link, said a very senior Wall Street banker.

If limited partners don’t kick in cash when asked, things could get very bad.

https://www.vanityfair.com/news/2020/03/could-wall-streets-coronavirus-tsunami-get-worse?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_032020&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_032020&utm_term=VYF_Hive (https://www.vanityfair.com/news/2020/03/could-wall-streets-coronavirus-tsunami-get-worse?utm_source=nl&utm_brand=vf&utm_mailing=VF_Hive_032020&utm_medium=email&bxid=5bd6795524c17c1048022fcc&cndid=43758549&hasha=992d608214b505003aa04bf10a595031&hashb=542eb31d958e85ddd5a4c3ccf3faae18526a77bd&hashc=54b3612ab970ce13a64a16665b1987080ca5b72e2ee7 62b722fbba6ab378f2f5&esrc=bounceX&utm_campaign=VF_Hive_032020&utm_term=VYF_Hive)


Get ready for the deleveraging.

[RandomGuy]

(insert random scare tactic link here)

Be afraid, there's foul play afoot and it's been determined that birth is 100% fatal!

Come on No-Take, have a take.

Tell us how bad it won't get.

[RandomGuy]

Here is what the business press is saying:

"massive outflows"

"liquidity problems"

"solvency problems"

"deleveraging"

"supply destruction"

"demand destruction"

That was the phrasing from just a few minutes interview with the Bloomberg network's chief financial analyst.

Wheeeeee......

[boutons_deux]

Mnuchin Says Recession Is A ‘Technical Question’ That’s

‘Not Terribly Relevant’

https://talkingpointsmemo.com/news/mnuchin-recession-not-terribly-relevant-coronavirus

[Winehole23]

Here is what the business press is saying:

"massive outflows"

"liquidity problems"

"solvency problems"

"deleveraging"

"supply destruction"

"demand destruction"

That was the phrasing from just a few minutes interview with the Bloomberg network's chief financial analyst.

Wheeeeee......one would think a Fed estimate of 30% unemployment and a 50% hit to Q2 GDP would inspire Congressional enthusiasm to stanch the wound.

We'll see.

[boutons_deux]

an assessment from SurveyUSA (http://www.surveyusa.com/client/PollReport.aspx?g=23b10fd3-4f50-43a0-b722-64b5a9fc143d&fbclid=IwAR1eqWL5LxJcxdj8uY2UVTuU3i6gAf3bagVkCG7Ui E1ssSLn1bSyjG8nxaw),

9% of working Americans (14 million) so far have been laid off as result of Coronavirus;

1 in 4 workers have had their hours reduced.

http://www.surveyusa.com/client/PollReport.aspx?g=23b10fd3-4f50-43a0-b722-64b5a9fc143d&fbclid=IwAR1eqWL5LxJcxdj8uY2UVTuU3i6gAf3bagVkCG7Ui E1ssSLn1bSyjG8nxaw

[boutons_deux]

Most renters won’t receive eviction protections under Trump’s coronavirus proposal

https://www.chicagotribune.com/coronavirus/ct-nw-coronavirus-renters-assistance-evictions-20200320-oor27idfmvh47gkm4vrukg6ejq-story.html (https://www.chicagotribune.com/coronavirus/ct-nw-coronavirus-renters-assistance-evictions-20200320-oor27idfmvh47gkm4vrukg6ejq-story.html)

[boutons_deux]

FT reports stock market down the Sunday evening max of 5%

[Winehole23]

(insert random scare tactic link here)

Be afraid, there's foul play afoot and it's been determined that birth is 100% fatal!St Louis Fed President Bullard said unemployment could reach 30% and GDP fall by 50% in Q2.

Was that a scare tactic?

[Winehole23]

By comparison, the top unemployment rate in the Great Depression was 24.9% -- in 1933, four years in.

Economically speaking, this could be a bigger shock than the Great Depression. The EU is already contracting and China probably did too.

[DMC]

Come on No-Take, have a take.

Tell us how bad it won't get.

Bend over, I'll show how bad it will get.

[DMC]

St Louis Fed President Bullard said unemployment could reach 30% and GDP fall by 50% in Q2.

Was that a scare tactic?

Speculation that no one here can do anything about nor prepare for is a scare tactic. You and some others here love to wind shit up as tight as possible, the end of the worlders, the lot of you. You seem to long for it.

[Winehole23]

Speculation that no one here can do anything about nor prepare for is a scare tactic. You and some others here love to wind shit up as tight as possible, the end of the worlders, the lot of you. You seem to long for it.It's not my estimate, it's a Fed President's. Our political representatives can either get out in front of the the shock or not. Whether or not they do will have an effect on the duration of the recession.

You can't plan for contingencies without talking about them. Refusing to consider them because they "sound" outlandish seems to me the greater irresponsibility than considering and planning for them.

[Winehole23]

Fed buying municipal bonds now. A few weeks ago they said they didn't have the authority to do that.

More catastrophizing, I'm sure, cities aren't in any danger from this.

[picnroll]

Back to July 16 on the DOW

[RandomGuy]

one would think a Fed estimate of 30% unemployment and a 50% hit to Q2 GDP would inspire Congressional enthusiasm to stanch the wound.

We'll see.

Republicans wanted to give Treasury a 500bn discretionary fund to aid businesses. Letting the most corrupt administration in modern US history pick winners and losers... yeah, I trust those fuckers as far as I could throw them.

[RandomGuy]

Fed buying municipal bonds now. A few weeks ago they said they didn't have the authority to do that.

More catastrophizing, I'm sure, cities aren't in any danger from this.

Sales taxes, and property taxes... they are. Municipal bonds have been pummeled for a reason.

[Winehole23]

Sales taxes, and property taxes... they are. Municipal bonds have been pummeled for a reason.I was teasing DMC, he likes to suggest that COVID-19 is little worse than a scraped knee

[RandomGuy]

Bend over, I'll show how bad it will get.

[Winehole23]

Who needs Marxism when Republicans are openly talking about sacrificing human beings to shareholder value?

[boutons_deux]

Who needs Marxism when Republicans are openly talking about sacrificing human beings to shareholder value?

Capitalism places no value on human life. The ONLY value is amassing more Capital

Capital will rape the environment to extract/create Capital for itself.

[DMX7]

Who needs Marxism when Republicans are openly talking about sacrificing human beings to shareholder value?

In all fairness, it’s more than just shareholder value. Peoples’ livelihoods are being affected. But it’s pretty cold language used by this man.

I will say that today is the first day I thought there was a realistic chance we good be headed to something worse than the Great Recession in 2008.

[Winehole23]

In all fairness, it’s more than just shareholder value. Peoples’ livelihoods are being affected. But it’s pretty cold language used by this man.

I will say that today is the first day I thought there was a realistic chance we good be headed to something worse than the Great Recession in 2008.The US lost more jobs than it did from 1929 to 1933 IN THE LAST TWO WEEKS. The size of the Fed response (which started ramping up, you may recall, in September of last year) suggests there are systemic stresses this time too. If there's not, there will be soon.

[CosmicCowboy]

The US lost more jobs than it did from 1929 to 1933 IN THE LAST TWO WEEKS. The size of the Fed response (which started ramping up, you may recall, in September of last year) suggests there are systemic stresses this time too. If there's not, there will be soon.

Not downplaying the severity at all but US population now is three times as large as it was in 1930.

[Winehole23]

Not downplaying the severity at all but US population now is three times as large as it was in 1930.At the current rate, we'll catch up in a few more weeks.