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Covfefe-19: Do What Now?

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  • #31
    Re: Covfefe-19: Do What Now?

    Originally posted by dxmnkd316 View Post
    We’re in October 2008. All we’re doing is trading wealth. The news crushes the market. People come in and score fire sale prices. Pushes the market up. People claim their profits. Market partially loses. More news crushes...etc. People with money are basically buying the stuff people are selling at a loss.

    This is just the extremely volatile phase that happens in big recessions or bear markets. Dead cat bounce, whatever.

    Look at October 2008, we had the same insane swings. It’s basically just gambling. If you don’t want to play with a RNG, just ride the volatility out. The market will find the long term price level it needs to.
    Slow and steady. Buy stocks that grow slowly, but remain somewhat steady. "Playing the market" usually ends up in failure, as in "make money quickly."

    I have only owned stock once, it was a company thing until a few years back. You got locked in for 100 shares after 5 years, at that price. You had another 5 years to either sell at current price, or buy at locked-in price, or lose those 100 shares. I couldn't afford the locked in price, so I sold. Waited until the last minute. Taxed to hell, but it was still free money. Price has more than doubled since then (this was 8.5 years ago when I cashed out) and only has really dipped in the last 3 days, by about 10%.
    Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
    Tastes like a warm summer day. -Raylan Givens

    Comment


    • #32
      Re: Covfefe-19: Do What Now?

      Originally posted by FadeToBlack&Gold View Post
      Great, now every paranoid jacka55 in America will doctor shop for the next two weeks demanding a prescription for this med.
      Ha, well hopefully it can be used to help the gravely ill. Oh and I bet elderly people with existing health issues would take a shot of that vaccine that's being tested no questions asked right now.

      Comment


      • #33
        Re: Covfefe-19: Do What Now?

        Originally posted by Kepler View Post
        Dow Futures tanking again.
        I wonder how much sleep Dump has had in the past couple of weeks...

        Comment


        • #34
          Re: Covfefe-19: Do What Now?

          Shutting the US-Canada border for non-essential travel

          Comment


          • #35
            Originally posted by leswp1 View Post
            They have to run out of green ink soon. They keep announcing more and more spending but the Dump already used the usual remedies.
            I've been told that isn't spending. It is quantitative easing. It's perfectly normal. Nothing to see here.

            Comment


            • #36
              Re: Covfefe-19: Do What Now?

              Originally posted by dxmnkd316 View Post
              We’re in October 2008. All we’re doing is trading wealth. The news crushes the market. People come in and score fire sale prices. Pushes the market up. People claim their profits. Market partially loses. More news crushes...etc. People with money are basically buying the stuff people are selling at a loss.

              This is just the extremely volatile phase that happens in big recessions or bear markets. Dead cat bounce, whatever.

              Look at October 2008, we had the same insane swings. It’s basically just gambling. If you don’t want to play with a RNG, just ride the volatility out. The market will find the long term price level it needs to.
              This is why I am saying we arent pulling out of this for quite some time. Yes there will be a good day here, maybe a good week if a business hits a good spot but this downturn will be everywhere. We havent even seen the full effect yet because businesses are just shutting down now. Imagine if Vegas stays closed for a month...imagine if Disney continues to have issues along with the other movie studios and theme parks...imagine airline issues for 8 weeks...you are going to have sagging businesses, 20% unemployment and zero certainty in leadership. If something happens to a bank the Depression is real...
              "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
              -aparch

              "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
              -INCH

              Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
              -ScoobyDoo 12/17/2007

              Comment


              • #37
                Re: Covfefe-19: Do What Now?

                Originally posted by Handyman View Post
                This is why I am saying we arent pulling out of this for quite some time. Yes there will be a good day here, maybe a good week if a business hits a good spot but this downturn will be everywhere. We havent even seen the full effect yet because businesses are just shutting down now. Imagine if Vegas stays closed for a month...imagine if Disney continues to have issues along with the other movie studios and theme parks...imagine airline issues for 8 weeks...you are going to have sagging businesses, 20% unemployment and zero certainty in leadership. If something happens to a bank the Depression is real...
                That is what I'm afraid of. Anyone with an ounce of intelligence knows the recession is coming, if not here already. It's a depression...hoo boy.
                Never really developed a taste for tequila. Kind of hard to understand how you make a drink out of something that sharp, inhospitable. Now, bourbon is easy to understand.
                Tastes like a warm summer day. -Raylan Givens

                Comment


                • #38
                  Re: Covfefe-19: Do What Now?

                  Yeah, we’re ****ed.

                  ****s going to be shut down for months. Absolutely nothing is going to be different in a couple weeks. You end the shutdowns and cases will start to skyrocket. We need a near lockdown for months so the virus spreads slowly throughout the population — we need to have a decent number infected and recovered before we can gradually end the social distancing.

                  Schools are likely done for the year.

                  Comment


                  • #39
                    Re: Covfefe-19: Do What Now?

                    Originally posted by Handyman View Post
                    This is why I am saying we arent pulling out of this for quite some time. Yes there will be a good day here, maybe a good week if a business hits a good spot but this downturn will be everywhere. We havent even seen the full effect yet because businesses are just shutting down now. Imagine if Vegas stays closed for a month...imagine if Disney continues to have issues along with the other movie studios and theme parks...imagine airline issues for 8 weeks...you are going to have sagging businesses, 20% unemployment and zero certainty in leadership. If something happens to a bank the Depression is real...
                    Luckily, 99% of banking can be done online or by phone call.

                    But yeah, this is why it’s now priority 1B to keep the banks open and the money supply stable. This QE is probably the only thing holding back a depression. The Fed isn’t full of sycophantic idiots best I can tell. They understand this better than most and there’s a reason they’re taking extreme measures. They probably also know the admin ****ed us all by cutting taxes to nothing. They’ve dropped rates to zero and are throwing everything they have at the money supply. If this fails, they’re out of ammo. We’re out of ammo.

                    Priority 1A being, of course, fighting the virus.

                    The only thing I wonder is does it matter who the 20% are? If it’s service workers, those are typically ramped up quickly. Skilled positions like science, engineering, teaching, etc. aren’t so easy to fill fast and train. Then again, service industry is usually living more paycheck to paycheck and that’s the churn of the economy. So maybe it’s worse. Hard to really know.

                    Edit: 1C is now about securing the food supply.
                    Code:
                    As of 9/21/10:         As of 9/13/10:
                    College Hockey 6       College Football 0
                    BTHC 4                 WCHA FC:  1
                    Originally posted by SanTropez
                    May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
                    Originally posted by bigblue_dl
                    I don't even know how to classify magic vagina smoke babies..
                    Originally posted by Kepler
                    When the giraffes start building radio telescopes they can join too.
                    He's probably going to be a superstar but that man has more baggage than North West

                    Comment


                    • #40
                      Re: Covfefe-19: Do What Now?

                      https://www.mediaite.com/tv/doctor-o...rent-response/

                      Tucker seems scared by this. He has actual experts on and he’s ripping Seema.
                      Code:
                      As of 9/21/10:         As of 9/13/10:
                      College Hockey 6       College Football 0
                      BTHC 4                 WCHA FC:  1
                      Originally posted by SanTropez
                      May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
                      Originally posted by bigblue_dl
                      I don't even know how to classify magic vagina smoke babies..
                      Originally posted by Kepler
                      When the giraffes start building radio telescopes they can join too.
                      He's probably going to be a superstar but that man has more baggage than North West

                      Comment


                      • #41
                        Originally posted by Handyman View Post
                        This is why I am saying we arent pulling out of this for quite some time. Yes there will be a good day here, maybe a good week if a business hits a good spot but this downturn will be everywhere. We havent even seen the full effect yet because businesses are just shutting down now. Imagine if Vegas stays closed for a month...imagine if Disney continues to have issues along with the other movie studios and theme parks...imagine airline issues for 8 weeks...you are going to have sagging businesses, 20% unemployment and zero certainty in leadership. If something happens to a bank the Depression is real...
                        20% might be a low estimate.

                        Meanwhile, New Zealand devotes 4% of its GDP to bailing out the banks. Sorry, the people. It is spending 4% of its GDP on people. Sorry, I got confused.

                        The $12.1 billion package includes:

                        Initial $500 million boost for health
                        $5.1 billion in wage subsidies for affected businesses in all sectors and regions, available from today
                        $126 million in COVID-19 leave and self-isolation support
                        $2.8 billion income support package for our most vulnerable, including a permanent $25 per week benefit increase and a doubling of the Winter Energy Payment for 2020
                        http://theconversation.com/new-zealand-outstrips-australia-uk-and-us-with-12-billion-coronavirus-package-for-business-and-people-in-isolation-133789

                        Comment


                        • #42
                          Originally posted by leswp1 View Post
                          Just back from a walk where I took a break from the constant onslaught of information that is constantly changing. Realized now we are in the hunker down phase I feel a sense of relief. Finally, instead of being a 'lone voice calling out in the darkness' and begging people to be serious the narrative has shifted to almost all people doing what will help. They might argue about the science but the social pressure is in the right direction.

                          Over the last few weeks I have been so grateful for these threads as a little puddle of sanity, where people 'get it' and understand what we are in for. It is a very lonely place to have everyone telling you that you're seeding panic, over reacting, challenging facts for [fill in the blank], etc.

                          So. Thanks, folks. You are the bees knees!

                          Plus these threads are gold. So many different walks of life, jobs, etc makes it well rounded.
                          I want to second this post. I stumbled upon USCHO back in early 2009, with a different username whose password I’ve long forgotten, but I didn’t realize it had political threads under the cafe section until ~5 months ago. Once I discovered them, I incorrectly assumed they’d be filled with conservative propaganda bull****, with a lot of college hockey fans being white and all. Boy, was I wrong. Happy for it.

                          Comment


                          • #43
                            Originally posted by dxmnkd316 View Post
                            https://www.mediaite.com/tv/doctor-o...rent-response/

                            Tucker seems scared by this. He has actual experts on and he’s ripping Seema.
                            Wow I agree with Tucker on something. Eff Seema

                            Comment


                            • #44
                              Originally posted by dxmnkd316 View Post
                              https://www.mediaite.com/tv/doctor-o...rent-response/

                              Tucker seems scared by this. He has actual experts on and he’s ripping Seema.
                              That's because he's a selfish huckster who found a good way to make a buck; never a fully bought-in Trumper but never thought it was going to really negatively affect *him* to have a complete nimrod in charge filling his cabinet with other complete nimrods.

                              Tucker is only half as stupid as he pretends to be.

                              Comment


                              • #45
                                Re: Covfefe-19: Do What Now?

                                As I said earlier I think Mnuchin is out to lunch with 20% but I was being positive
                                "It's as if the Drumpf Administration is made up of the worst and unfunny parts of the Cleveland Browns, Washington Generals, and the alien Mon-Stars from Space Jam."
                                -aparch

                                "Scenes in "Empire Strikes Back" that take place on the tundra planet Hoth were shot on the present-day site of Ralph Engelstad Arena."
                                -INCH

                                Of course I'm a fan of the Vikings. A sick and demented Masochist of a fan, but a fan none the less.
                                -ScoobyDoo 12/17/2007

                                Comment

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