chakoo Posted March 23, 2020 Share Posted March 23, 2020 37 minutes ago, SlipperySlope said: Oops Yep. that sure was short lived. Quote Link to comment Share on other sites More sharing options...
Amazatron Posted March 23, 2020 Share Posted March 23, 2020 Well, we didn’t hit the breakers so that’s something. Yet... Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 23, 2020 Share Posted March 23, 2020 Considering the apocalyptic 2Q forecasts coming from the St. Louis Fed and Morgan Stanley over the weekend, I'm actually pleasantly surprised at today's market activity so far. Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 23, 2020 Share Posted March 23, 2020 7 minutes ago, SFLUFAN said: Considering the apocalyptic 2Q forecasts coming from the St. Lois Fed and Morgan Stanley over the weekend, I'm actually pleasantly surprised at today's market activity so far. That or some of the jobless numbers starting to come in (Ouch Michigan, CA & NY are going to be insane) https://www.mlive.com/public-interest/2020/03/almost-109000-in-michigan-filed-for-unemployment-last-week-compared-to-5000-in-typical-week.html -edit- As cold as I might seem in this thread. I do actually feel sad for people losing their job over this. I remember the harsh struggles my parents went through when growing up over my mom's long time business folding. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 23, 2020 Share Posted March 23, 2020 I can’t imagine March having less than 5 million new jobless claims nationally. They were thinking 1 million a week ago. Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 23, 2020 Share Posted March 23, 2020 1 minute ago, sblfilms said: I can’t imagine March having less than 5 million new jobless claims nationally. They were thinking 1 million a week ago. Considering canada saw 500k EI claims. I think even 5 million might be too low for the US. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 23, 2020 Share Posted March 23, 2020 1 minute ago, chakoo said: Considering canada saw 500k EI claims. I think even 5 million might be too low for the US. That’s cautiously optimistic me. Realist me thinks it will be double digits. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 23, 2020 Share Posted March 23, 2020 22 minutes ago, chakoo said: Considering canada saw 500k EI claims. I think even 5 million might be too low for the US. And that was in one week. Probably going to see another 500k this week. I would expect 5-12 million for the US through the end of this week (including last week). If it followed Canada's curve then it will be on the higher end, but many states haven't been as severe in closing businesses as Canada (and some American states) has. Quote Link to comment Share on other sites More sharing options...
osxmatt Posted March 23, 2020 Share Posted March 23, 2020 Mitch McConnell speaking now and doing very Mitch McConnell things. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 23, 2020 Share Posted March 23, 2020 16 minutes ago, osxmatt said: Mitch McConnell speaking now and doing very Mitch McConnell things. 3 Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted March 23, 2020 Share Posted March 23, 2020 20 minutes ago, osxmatt said: Mitch McConnell speaking now and doing very Mitch McConnell things. Mitch McConnell Inflates Throat Pouch In Show Of Dominance Over Fellow Congressional Males 3 Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 23, 2020 Share Posted March 23, 2020 EDIT - not that big of a deal: Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted March 24, 2020 Share Posted March 24, 2020 Dems will be very reassured to here this. 2 Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 24, 2020 Share Posted March 24, 2020 Unconfirmed but sources are pointing at 929k filings for employment insurance benefits so far this month in Canada. USA numbers are going to be crazy. 1 1 Quote Link to comment Share on other sites More sharing options...
darkness35 Posted March 24, 2020 Share Posted March 24, 2020 Are we counting the numbers that are also working under the table? I'm already imagining the reported numbers will be lower than what it actually is. Also dumb question, are we talking about individuals... or household numbers? If you count dependents, retired, disabled, etc... that number is significantly higher. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 24, 2020 Share Posted March 24, 2020 23 minutes ago, darkness35 said: Are we counting the numbers that are also working under the table? I'm already imagining the reported numbers will be lower than what it actually is. Also dumb question, are we talking about individuals... or household numbers? If you count dependents, retired, disabled, etc... that number is significantly higher. Unemployment filings only count the individuals who file. The are different types of unemployment metrics. The "official" one that's reported monthly by the Bureau of Labor Statistics is U-3 which measures those without a job but are actively seeking one. This was 3.7% for 2019. The most expansive metric is U-6 which includes total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons. This was 7.2% for 2019. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 Wow: Perhaps because of this: That is the equivalent of 8 million in the US. Edit - govt has decided to not table the motion after blowback. Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted March 24, 2020 Share Posted March 24, 2020 Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted March 24, 2020 Share Posted March 24, 2020 Mnuchin, Schumer optimistic on coronavirus stimulus package, say deal is close Quote The two main issues that Democrats wanted — protecting workers and a "Marshall Plan" for hospitals — are "very strongly in the bill," said Schumer, who declined to go into detail. Mnuchin called the president, Schumer said, and told him "we were very, very close to the agreement [and] he seemed very happy with that." He also added that Trump seemed "very positive" about the status of the talks. Schumer said that he hopes they can complete the agreement Tuesday and vote on it by the evening. Quote Link to comment Share on other sites More sharing options...
silentbob Posted March 24, 2020 Share Posted March 24, 2020 That sounds good and all until a Fox News Pundit or “Expert” says otherwise Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted March 24, 2020 Share Posted March 24, 2020 At this point its more likely McConnell gets in the way because the WH is bypassing the Senate GOP totally, McConnell isn't even in on the meetings, lol. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 6 Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted March 24, 2020 Share Posted March 24, 2020 2 minutes ago, CitizenVectron said: 2 2 Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 Perhaps, but I also give credence to the idea that Trump's company is bleeding money and that makes him mad. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 24, 2020 Share Posted March 24, 2020 8 minutes ago, CitizenVectron said: Perhaps, but I also give credence to the idea that Trump's company is bleeding money and that makes him mad. These corporations should have 3-6mo in savings Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 5 minutes ago, SlipperySlope said: These corporations should have 3-6mo in savings Can't save if you are buying back your stocks to boost your own bonuses. 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 24, 2020 Share Posted March 24, 2020 haha I'm just mocking the financial shit their talking heads tell us to do. They haven't done for themselves, they're barely making it a week without crying. The rest of us are learning to bake bread. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 24, 2020 Share Posted March 24, 2020 Have these companies tried stopping going out to get coffee, or making lunch at home??? 3 Quote Link to comment Share on other sites More sharing options...
Ghost_MH Posted March 24, 2020 Share Posted March 24, 2020 39 minutes ago, CitizenVectron said: Perhaps, but I also give credence to the idea that Trump's company is bleeding money and that makes him mad. I'm 1000% sure that Trump's properties are bleeding money and are on the verge of going bankrupt if this goes on any longer. It's not like Trump doesn't have a long history of his companies going under. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 5 minutes ago, b_m_b_m_b_m said: Have these companies tried stopping going out to get coffee, or making lunch at home??? Or hitting the pavement and looking for a new business, fresh resumes in hand? 2 Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 Just now, Ghost_MH said: I'm 1000% sure that Trump's properties are bleeding money and are on the verge of going bankrupt if this goes on any longer. It's not like Trump doesn't have a long history of his companies going under. Would also make sense why the GOP aid bill included the provision that Trump could decide which companies get money, unilaterally. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 Quote Link to comment Share on other sites More sharing options...
outsida Posted March 24, 2020 Share Posted March 24, 2020 11 minutes ago, CitizenVectron said: Or hitting the pavement and looking for a new business, fresh resumes in hand? Too much avocado toast I tell you Quote Link to comment Share on other sites More sharing options...
Jason Posted March 24, 2020 Author Share Posted March 24, 2020 1 hour ago, SlipperySlope said: These corporations should have 3-6mo in savings They shouldn't have been buying coffee and avocado toasts every day. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 24, 2020 Share Posted March 24, 2020 Companies that binged on stock buybacks seek public bailouts Quote Now, some of the same companies that binged on buybacks are in line to receive taxpayer-funded bailouts to keep them alive. Boeing (BA), for example, spent $11.7 billion over the past two years on repurchasing stock before suspending buybacks in April 2019 because of the 737 Max crisis. The aerospace behemoth is now requesting $60 billion in federal assistance as the coronavirus crisis has crushed its customers and forced factories to shut down. Southwest Airlines (LUV) spent $2 billion on share buybacks in 2019. Similarly, last year American Airlines Group (AAL)also spent $1.1 billion to repurchase its stock at an average cost of $32.09 per share. American Airlines shares closed Monday at just $10. Now the airline industry is seeking $50 billion in federal help as it fights for survival during a stunning decline in worldwide travel. Quote Buybacks at S&P 500 companies exploded by 55% to a record $806.4 billion in 2018, the first year the tax law took effect, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. S&P 500 companies repurchased another $728.7 billion of stock in 2019. The top 10% of households owned 84% of all stocks in 2016, according to NYU professor Edward Wolff. 1 Quote Link to comment Share on other sites More sharing options...
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