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  • mrussel1
    mrussel1 Posts: 30,981
    oftenreading said:
    static111 said:
    tempo_n_groove said:
    Saw our first glimpse of life below 20 this morning.  

    Slight gain early now.

    I would like for the markets to start going steady but that is a pipe dream.

    So in Dow Theory these blips will have dramatic action on the workforce and life in general in 6 months from now.  My question is how much worse is this going to be in 6 months?

    I seriously think the deck is stacked in a rich person's favor with times like this...
    It is stacked in their favor at all times. It just becomes easier to see in times like these. 
    Absolutely true for the vast majority of times, interspersed with brief windows when the guillotines come out before everything goes back to normal. 
    Fuck that Jacobin noise.  
  • mickeyrat
    mickeyrat Posts: 45,222
    THIS is going to end well.....


    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • jerparker20
    jerparker20 St. Paul, MN Posts: 2,529
    mickeyrat said:
    THIS is going to end well.....


    Last thing I’d plan on doing at this time is taking on debt.  But, you know people need to buy a boat.
  • static111
    static111 Posts: 5,208
    jerparker20 said:
    mickeyrat said:
    THIS is going to end well.....


    Last thing I’d plan on doing at this time is taking on debt.  But, you know people need to buy a boat.
    Well if the banks don’t make money they will fail and we will have to bail them out again, so may as well take on unbearable loads of personal debt for the economy....
    Scio me nihil scire

    There are no kings inside the gates of eden
  • mrussel1
    mrussel1 Posts: 30,981
    Today looks like a rough one again.
  • dignin
    dignin Posts: 9,478
    mrussel1 said:
    Today looks like a rough one again.
    Yup
  • bbiggs
    bbiggs Posts: 6,965
    mrussel1 said:
    Today looks like a rough one again.

    I have a feeling you'll be able to copy and paste that line for quite some time.
  • mrussel1
    mrussel1 Posts: 30,981
    bbiggs said:
    mrussel1 said:
    Today looks like a rough one again.

    I have a feeling you'll be able to copy and paste that line for quite some time.
    Probably.  That's the nature of a recession.  I heard this morning that unemployment benefit websites are crashing in numerous states.  
  • bbiggs
    bbiggs Posts: 6,965
    mrussel1 said:
    bbiggs said:
    mrussel1 said:
    Today looks like a rough one again.

    I have a feeling you'll be able to copy and paste that line for quite some time.
    Probably.  That's the nature of a recession.  I heard this morning that unemployment benefit websites are crashing in numerous states.  

    Oh boy.  I can only imagine.  Feel terrible for so many people being impacted.  I have a friend who owns rental properties and has concerns that none of his tenants will be able to pay.  Many are hourly employees who don't have the necessary savings to weather the storm.  I know, I know.  I'm not crying a river for the guy who owns the rental properties and dismissing the folks that live in them.  Much more sympathy to those that can't go to work and put food on the table.  I'm just showcasing the ripple effect and how far and wide this impact is.
  • josevolution
    josevolution Posts: 32,101
    Damn 2020 sure seems like it’s on fire with no sign of a firefighter coming to rescue us! 
    jesus greets me looks just like me ....
  • mrussel1
    mrussel1 Posts: 30,981
    bbiggs said:
    mrussel1 said:
    bbiggs said:
    mrussel1 said:
    Today looks like a rough one again.

    I have a feeling you'll be able to copy and paste that line for quite some time.
    Probably.  That's the nature of a recession.  I heard this morning that unemployment benefit websites are crashing in numerous states.  

    Oh boy.  I can only imagine.  Feel terrible for so many people being impacted.  I have a friend who owns rental properties and has concerns that none of his tenants will be able to pay.  Many are hourly employees who don't have the necessary savings to weather the storm.  I know, I know.  I'm not crying a river for the guy who owns the rental properties and dismissing the folks that live in them.  Much more sympathy to those that can't go to work and put food on the table.  I'm just showcasing the ripple effect and how far and wide this impact is.
    100%.  It's all interconnected.  And while he may not go personally broke, think of all of the economic activity that he generates through his rentals and through his own spending that will be reduced.  
  • bbiggs
    bbiggs Posts: 6,965
    mrussel1 said:
    bbiggs said:
    mrussel1 said:
    bbiggs said:
    mrussel1 said:
    Today looks like a rough one again.

    I have a feeling you'll be able to copy and paste that line for quite some time.
    Probably.  That's the nature of a recession.  I heard this morning that unemployment benefit websites are crashing in numerous states.  

    Oh boy.  I can only imagine.  Feel terrible for so many people being impacted.  I have a friend who owns rental properties and has concerns that none of his tenants will be able to pay.  Many are hourly employees who don't have the necessary savings to weather the storm.  I know, I know.  I'm not crying a river for the guy who owns the rental properties and dismissing the folks that live in them.  Much more sympathy to those that can't go to work and put food on the table.  I'm just showcasing the ripple effect and how far and wide this impact is.
    100%.  It's all interconnected.  And while he may not go personally broke, think of all of the economic activity that he generates through his rentals and through his own spending that will be reduced.  

    Exactly.  This impact is real though.  Many landlords have mortgages on these properties.  When they don't get rent checks, those payments still need to be made.  Not all of them have that kind of cash to make the payments on multiple properties for extended periods.  If some of these projected timelines regarding the virus are accurate, I just don't know how the global economy is going to recover.  It will happen somehow, in time, but I don't know how.
  • Jearlpam0925
    Jearlpam0925 Deep South Philly Posts: 17,619
    I'm telling ya - everyone should be taking advantage of the system as it's currently set up. Get in on the VIX action (UVX, VXX, TVIX) and make some money.
  • static111
    static111 Posts: 5,208
    If the government wants to help they really need to put a moratorium on payments and other obligations.  This crisis gets worse if you just let banks foreclose and landlords kick renters out on the streets during a time of massive layoffs and business closures. Especially if the situation goes on for the 18 months some are projecting.
    Scio me nihil scire

    There are no kings inside the gates of eden
  • mrussel1
    mrussel1 Posts: 30,981
    static111 said:
    If the government wants to help they really need to put a moratorium on payments and other obligations.  This crisis gets worse if you just let banks foreclose and landlords kick renters out on the streets during a time of massive layoffs and business closures. Especially if the situation goes on for the 18 months some are projecting.
    Banks are already working on modifications. They don't want to foreclose and sit on properties they can't move.  I know AMEX has already waived payment requirements for the next 30 days for their card products.  The others will follow suit soon enough.
  • rgambs
    rgambs Posts: 13,576
    Jearlpam0925 said:
    I'm telling ya - everyone should be taking advantage of the system as it's currently set up. Get in on the VIX action (UVX, VXX, TVIX) and make some money.
    Ummm, most people are worried about paying bills and not spending their savings up in the face of economic crisis.  If you have money to invest, good for you, but don't think you are immune to a depression because you got in on the "X" action.  Your stock money won't buy you toilet paper from Costco lol
    Monkey Driven, Call this Living?
  • Jearlpam0925
    Jearlpam0925 Deep South Philly Posts: 17,619
    rgambs said:
    Jearlpam0925 said:
    I'm telling ya - everyone should be taking advantage of the system as it's currently set up. Get in on the VIX action (UVX, VXX, TVIX) and make some money.
    Ummm, most people are worried about paying bills and not spending their savings up in the face of economic crisis.  If you have money to invest, good for you, but don't think you are immune to a depression because you got in on the "X" action.  Your stock money won't buy you toilet paper from Costco lol
    Of course, and not the point...or actually is the point. If you have some money sitting in an IRA that's totally getting fucked, take it out and put it in the anti-S&P.

    Believe I've got enough heart if you want to talk about day-to-day human issues. I'm also sure there is a thread for that, but this one is in re: to the stock market. Just trying to talk about said stock market and investments.

    Also, I have a bidet.  :) (<-- also holy shit what a smug response on my part)
  • static111
    static111 Posts: 5,208
    mrussel1 said:
    static111 said:
    If the government wants to help they really need to put a moratorium on payments and other obligations.  This crisis gets worse if you just let banks foreclose and landlords kick renters out on the streets during a time of massive layoffs and business closures. Especially if the situation goes on for the 18 months some are projecting.
    Banks are already working on modifications. They don't want to foreclose and sit on properties they can't move.  I know AMEX has already waived payment requirements for the next 30 days for their card products.  The others will follow suit soon enough.
    This is good news, hopefully they waive interest during this time as well
    Scio me nihil scire

    There are no kings inside the gates of eden
  • rgambs
    rgambs Posts: 13,576
    Jearlpam0925 said:
    rgambs said:
    Jearlpam0925 said:
    I'm telling ya - everyone should be taking advantage of the system as it's currently set up. Get in on the VIX action (UVX, VXX, TVIX) and make some money.
    Ummm, most people are worried about paying bills and not spending their savings up in the face of economic crisis.  If you have money to invest, good for you, but don't think you are immune to a depression because you got in on the "X" action.  Your stock money won't buy you toilet paper from Costco lol
    Of course, and not the point...or actually is the point. If you have some money sitting in an IRA that's totally getting fucked, take it out and put it in the anti-S&P.

    Believe I've got enough heart if you want to talk about day-to-day human issues. I'm also sure there is a thread for that, but this one is in re: to the stock market. Just trying to talk about said stock market and investments.

    Also, I have a bidet.  :) (<-- also holy shit what a smug response on my part)
    I wish I knew enough to capitalize on the market being low, but whatever move I make will surely be the wrong one.
    We had a money market account sitting still for a long time because we don't know what we are doing, so we let our "financial advisor" invest it more actively last year.  Whoops.  If we would have waited until now to move it we would stand to ride the wave back up.  We are young, and assuming our business weathers this storm, we have time to let something grow.
    I don't have a bidet, but I do have a pond 🤷‍♂️
    Monkey Driven, Call this Living?
  • Saltzy23
    Saltzy23 Posts: 1,350
    OMG.
    'I know I was born and I know that I'll die, the in between is mine.'

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