Jump to content
Jason

~* Make America Great Depression Again -- Official Thread of Corona Virus infected markets *~

Recommended Posts

1 hour ago, Signifyin(g)Monkey said:

That is definitely not a :dab: -worthy event.

 

I don’t want Trump re-elected either, but c’mon—people are losing their retirement savings, they’re losing their jobs...even considering what might happen with the courts, we should all be pulling for economic prosperity for everyone, whether it helps Trump or not.  Fuck whose president, it’s all about the people.
 

Not just directed at you, and I don’t want to come off as a sanctimonious prick if you were just making an abrasive joke; I’m just seeing this in way too many places, with people who are *not* joking, and while the drug of schadenfreud’s always tempting, no self-respecting dem/liberal/liberal-centrist/anti-Trumper/etc. should start acting like those craven, infantile Republicans/right-wingers who got upset when unemployment started getting relatively low under Obama.  (Remember they started calling it ‘fake’ up until Trump got elected?)

In addition, what makes people think that dems would benefit, and we wouldn't fall further into an authoritarian trap?

Share this post


Link to post
Share on other sites
13 minutes ago, CitizenVectron said:

Ban all companies from buy-backs forever.


Nah, they just need limits. I would also be fine if buy backs had to include reallocating some of the purchased shares as stock options to all non executive level employees.

Share this post


Link to post
Share on other sites
7 hours ago, Signifyin(g)Monkey said:

That is definitely not a :dab: -worthy event.

 

I don’t want Trump re-elected either, but c’mon—people are losing their retirement savings, they’re losing their jobs...even considering what might happen with the courts, we should all be pulling for economic prosperity for everyone, whether it helps Trump or not.  Fuck whose president, it’s all about the people.

 

Tanking the economy to own the gop.

Share this post


Link to post
Share on other sites
2 hours ago, Spawn_of_Apathy said:

I mean it was bound to happen he’d do or say something right. Law of averages. 

 

 

Well, the same thing happened with the ban for travel from China. That was probably a good idea in hindsight, but Trump just lucked his way into it because that's his xenophobic answer to everything. I heard a nice succinct explanation for why Trump shouldn't recieve much credit for it, "The travel ban basically bought us two weeks, but Trump didn't do anything with those two weeks". He thought the ban was the answer, instead of treating it as what it was....a way to buy time until we got the answer...or at least prepared.

 

I think this is important because now Trump seems to be doing the same with the social distancing. He thinks, "Welp, that fixes that, time for a Diet Coke and two scoops of ice cream!". Instead of using the time this is buying us he is concerned with blaming China and scoring political points.

Share this post


Link to post
Share on other sites

Morgan Stanley is now predicting -30% GDP in 2Q.

Quote

Morgan Stanley economists said the coronavirus will inflict a deeper recession on the U.S. than previously expected, including a record 30.1% drop in gross domestic product in the second quarter.

 

Less than a week since forecasting a 4% contraction in April through June, the economists led by Ellen Zentner said they now anticipated a steeper drop and that unemployment will average 12.8% and consumption will fall 31% in the quarter.

 

“Economic activity has come to a near standstill in March,” the economists said in a report to clients on Sunday. “As social distancing measures increase in a greater number of areas and as financial conditions tighten further, the negative effects on near-term GDP growth become that much greater.”

 

The Morgan Stanley team predicts GDP will fall 2.4% in the current quarter, but will begin to recover in the third quarter. Overall, they project the U.S. economy to contract 2.3% on a fourth quarter to fourth quarter basis in 2020, taking full-year global growth down to just 0.3%.

 

Elsewhere, JPMorgan Chase & Co. said last week it expects GDP to shrink 14% in the April-June period and Goldman Sachs Group Inc. sees a 24% plunge. Bloomberg Economics predicts a 9% tumble.

 

Share this post


Link to post
Share on other sites

I feel like I've been getting more and more aggravated lately thinking about what they're doing to limit economic losses. Republicans fought Obama tooth and nail over an $800 billion stimulus package, and now we're getting three packages back to back, one of them being over one and a half trillion dollars. Imagine how much quicker we could have gotten out of the 2008 Great Recession had they work with the president and how many people's lives would have been helped sooner.

Share this post


Link to post
Share on other sites
Just now, SaysWho? said:

I feel like I've been getting more and more aggravated lately thinking about what they're doing to limit economic losses. Republicans fought Obama tooth and nail over an $800 billion stimulus package, and now we're getting three packages back to back, one of them being over one and a half trillion dollars. Imagine how much quicker we could have gotten out of the 2008 Great Recession had they work with the president and how many people's lives would have been helped sooner.

 

 

But her emails the deficit....

Share this post


Link to post
Share on other sites

So futures have started back up in prep for tomorrow. Let's take a look.

18,086.00USD -954.00 -5.01%

 

Well fuck.... Hope this rebounds before markets open and we don't hit another blood bath on monday.

https://www.bloomberg.com/quote/DM1:IND

 

38 minutes ago, Amazatron said:

NYSE trading floor closed.

Pretty sure that happened last week..

 

--update-

https://time.com/5805954/nyse-close-trading-floor-coronavirus/

Guess it was listed as temp but I saw in another article it that goes into effect on the 23rd (monday).

Share this post


Link to post
Share on other sites
2 minutes ago, Massdriver said:

Can we also do a massive 2 trillion dollar infrastructure package while we are spending all this cash?

No handouts

Share this post


Link to post
Share on other sites
1 hour ago, Amazatron said:

Yeah, futures hit the limit down in four minutes.

 

 

Monkey paw presidency strikes again.

 

He promised us record breaking stock market numbers.....

Share this post


Link to post
Share on other sites
37 minutes ago, Remarkableriots said:

 

We just paid $20 for a 4 roles to send to my grandmother in law (who lives 2000 miles away in Pensacola) because she's 85 years old and only has one role left.  

Share this post


Link to post
Share on other sites
27 minutes ago, SFLUFAN said:

 

I guess that explains why futures are up this morning about ~7% from where they were an hour ago (currently at +3.6% from closing).

Share this post


Link to post
Share on other sites
27 minutes ago, Signifyin(g)Monkey said:

Wow—sounds like they’ve decided to go full-on Japanese.  They’re even buying ETFs.

You could probably draw a dollar sign in crayon on a piece of paper and the Fed would buy it now.

Share this post


Link to post
Share on other sites

I know I’m not the most savvy when it comes to finance, but that seems like a stupidly obvious thing to do? Leverage government purchasing power, keep capital flowing, and down the line the Fed has assets to recoup costs. Why wouldn’t something like that be done sooner?

Share this post


Link to post
Share on other sites
2 minutes ago, Chris- said:

I know I’m not the most savvy when it comes to finance, but that seems like a stupidly obvious thing to do? Leverage government purchasing power, keep capital flowing, and down the line the Fed has assets to recoup costs. Why wouldn’t something like that be done sooner?

Oh, it's been ramping up for a few weeks now - it's just that it's now far more encompassing than it's ever been!

Share this post


Link to post
Share on other sites
16 minutes ago, SFLUFAN said:

You could probably draw a dollar sign in crayon on a piece of paper and the Fed would buy it now.

 

So what you're saying is that we could probably get the Fed to foot some of this site's server bills?

Share this post


Link to post
Share on other sites
1 hour ago, chakoo said:

I guess that explains why futures are up this morning about ~7% from where they were an hour ago (currently at +3.6% from closing).

Oops

Share this post


Link to post
Share on other sites
1 hour ago, Signifyin(g)Monkey said:

Wow—sounds like they’ve decided to go full-on Japanese.  They’re even buying ETFs.

The main difference is that the BoJ purchases equities while the Fed doesn't. The Fed now purchases corporates and munis in addition to Federal debt.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...