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Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The market is responding favorably to this Coronavirus Task Force update. Kinda surprising, but I'm sure overnight trading will wipe it all out.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The market is responding favorably to this Coronavirus Task Force update. Kinda surprising, but I'm sure overnight trading will wipe it all out.

Overnight trading is no different than normal trading. The market finds the level it needs. Even if there wasn't overnight trading, the result would be very similar. It's not a hurdle to overcome, it's actually fairly useful in determining the real market value.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Overnight trading is no different than normal trading. The market finds the level it needs. Even if there wasn't overnight trading, the result would be very similar. It's not a hurdle to overcome, it's actually fairly useful in determining the real market value.

I stubbornly think of them as separate, when indeed they are the same. Thank you. :)
 
I stubbornly think of them as separate, when indeed they are the same. Thank you. :)

They are different in that many people cannot trade after hours. If our trade doesn't go through at 4pm COB we either have to cancel it or wait until the market reopens at 930am. So if the market tanks overnight we're screwed.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

So one of the biggest things I've learned by watching and listening to CNBC? (Worked from home today)

That my house is no where near as IKEA showroom nice as all these hosts have.

Also, I don't make nearly as much money as those hosts to be able to afford to have a whole room I can convert into an IKEA showroom/home office. :p



*edit* I also have learned that a lot of these contributors Skype'ing into the shows suck at setting up their own home webcam systems. :D
 
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Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

It'll be interesting to see the effect of the new bill Trump signed into law yesterday. Two big changes, both apply to businesses with less than 500 employees.

First, the Family and Medical Leave Act was expanded. If you need to take a leave of absence because your kid's school or daycare closed due to Covid-19, you get to take the 12 weeks of leave provided for in the act. This applies to all employers with less than 500 employees.

Furthermore, the last 10 weeks of that leave is paid, although it's capped at $200/day.

The second big addition is paid sick leave. Everyone is entitled to two weeks of paid sick leave (they can't make you use any sick leave or vacation time your employer already gives you). However, you only get the sick leave if you are out of work because you've been diagnosed with Covid-19; you've been quarantined by the feds, the state or local authorities; you have the symptoms and you are treating but waiting for a diagnosis (that's the amorphous section); if you're caring for someone with one of those, or if your kid is out of school because of Covid-19 or the daycare closed.

Again, the sick leave pay is capped at $511/day if you're out because you're sick or quarantined or treating and $200/day if it's because of your kids school closing or you're caring for a kid or someone else who has been diagnosed.

All paid leave under both parts will be 100% reimbursed by the Feds through tax credits. But, of course, the business has to advance the money by paying the employees and hope it survives (and has taxable income) to get the credits next spring.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

It'll be interesting to see the effect of the new bill Trump signed into law yesterday. Two big changes, both apply to businesses with less than 500 employees.

First, the Family and Medical Leave Act was expanded. If you need to take a leave of absence because your kid's school or daycare closed due to Covid-19, you get to take the 12 weeks of leave provided for in the act. This applies to all employers with less than 500 employees.

Furthermore, the last 10 weeks of that leave is paid, although it's capped at $200/day.

The second big addition is paid sick leave. Everyone is entitled to two weeks of paid sick leave (they can't make you use any sick leave or vacation time your employer already gives you). However, you only get the sick leave if you are out of work because you've been diagnosed with Covid-19; you've been quarantined by the feds, the state or local authorities; you have the symptoms and you are treating but waiting for a diagnosis (that's the amorphous section); if you're caring for someone with one of those, or if your kid is out of school because of Covid-19 or the daycare closed.

Again, the sick leave pay is capped at $511/day if you're out because you're sick or quarantined or treating and $200/day if it's because of your kids school closing or you're caring for a kid or someone else who has been diagnosed.

All paid leave under both parts will be 100% reimbursed by the Feds through tax credits. But, of course, the business has to advance the money by paying the employees and hope it survives (and has taxable income) to get the credits next spring.

We saw these changes already reflected at work. We now have special coding for all absences related to COVID. The actuaries and accountants are going to have great job security cleaning up this mess.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">BRACE for the release of this week’s labour market data next week. It is going to be a horrifying shock. <a href="https://t.co/odoNVW8yJd">https://t.co/odoNVW8yJd</a></p>— Adam Tooze (@adam_tooze) <a href="https://twitter.com/adam_tooze/status/1240763597774602251?ref_src=twsrc%5Etfw">March 19, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
We saw these changes already reflected at work. We now have special coding for all absences related to COVID. The actuaries and accountants are going to have great job security cleaning up this mess.

Iowa has basically implemented a "if you're off work for any reason tangentially associated with the virus and your employer doesn't offer paid leave, you can claim unemployment benefits and it won't be charged to the employer" policy.

Which is great, but I'm curious where the money will come from in light of tax cuts instituted last year.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">BRACE for the release of this week’s labour market data next week. It is going to be a horrifying shock. <a href="https://t.co/odoNVW8yJd">https://t.co/odoNVW8yJd</a></p>— Adam Tooze (@adam_tooze) <a href="https://twitter.com/adam_tooze/status/1240763597774602251?ref_src=twsrc%5Etfw">March 19, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Not possible...Trump said 20% was the worst case scenario ;)
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">BRACE for the release of this week’s labour market data next week. It is going to be a horrifying shock. <a href="https://t.co/odoNVW8yJd">https://t.co/odoNVW8yJd</a></p>— Adam Tooze (@adam_tooze) <a href="https://twitter.com/adam_tooze/status/1240763597774602251?ref_src=twsrc%5Etfw">March 19, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Those numbers look quaint.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">JUST IN: Economists warn jobless claims could top 1.5 million by next week <a href="https://t.co/QfMZXl697J">https://t.co/QfMZXl697J</a> <a href="https://t.co/CgS2Ts3hnu">pic.twitter.com/CgS2Ts3hnu</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1240802505635831808?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

"This will all be ovah in two weeks! Everyone will be back to work! Believe me folks! Best economy evah!"

-Trump, next week probably
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Those numbers look quaint.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">JUST IN: Economists warn jobless claims could top 1.5 million by next week <a href="https://t.co/QfMZXl697J">https://t.co/QfMZXl697J</a> <a href="https://t.co/CgS2Ts3hnu">pic.twitter.com/CgS2Ts3hnu</a></p>— The Hill (@thehill) <a href="https://twitter.com/thehill/status/1240802505635831808?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

If they are right...and in a week one and a quarter million new people go on unemployment all hell is going to break loose...
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Well, I always tell myself to find the best of every situation, so here it goes:

In 2008/09, there was a brief time where there was actually a glut of youth sports officials working. That meant you would only have to work 2 games in a day and 5-6 over a weekend because so many people were willing to officiate. Sure, that day's $100 was the only income they had coming in for the week, but hey, find the good :o
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

So...just how bad is the market going to get next week when these projections about unemployment become more concrete?
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

So...just how bad is the market going to get next week when these projections about unemployment become more concrete?
I really think we might actually see the Level 2 circuit breaker activated for the first time in the history of the stock exchange.
 
Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I regret already using "Jesus Tapdancing Christ" earlier tonight. <a href="https://t.co/81ng2r4Jg9">https://t.co/81ng2r4Jg9</a></p>— Kevin M. Kruse (@KevinMKruse) <a href="https://twitter.com/KevinMKruse/status/1240818271089315842?ref_src=twsrc%5Etfw">March 20, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
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