Trump intervened with both Saudi and Russia to get this insane excess supply taken off the market and apparently they agreed.
Fantastic action to stabilize oil to some degree.
Fantastic action to stabilize oil to some degree.
Banks miss Q1 earnings because they are setting aside Billions for loan defaults. Market way up.
- Thread starter fried-chicken
- Start date
Dead cat bounce after yesterday. Once word is out that we are months away from any semblance of normalcy we will be pushing 15k on the Dow. Good news is SDOW has been very kind to me and is a good bet if you want to hedge against potential losses and not sell off everything.
To my grandkids to worry about just like all the other debt since forever.
We are a society of pussies. Want utopia but dont want to pay for it, and when things go to shit we look for dad to bail us out. Yeah, this is going to work out.
6 trillion dollars ÷ 100 million families= 60,000 dollars per family. If you'd rather delineate this down to a per person debt, your personal share is 18 grand.
Perfect description of Republicans
Seems to me that "when things go to shit" is when we expect the Government to bail us out.
Ideally, our Government should have built up a "rainy day fund' for just this kind of scenario, but we instead we've simply continued to grow the Federal deficit to ungodly levels and borrow more money when a crisis occurs.
And what have we spent it on? Much-needed infrastructure? No, the past two decades we've spent six trillion dollars on two Middle Eastern wars.
Boy, wouldn't it have been nice to have that six trillion dollars NOW.
2 trillion in government spending + 4 trillion dollars in QE. QE is printing, then loaning, then borrowing back money against YOUR credit. The bill comes due, and it's your bill whether you like it or not.
Corporations these days are so entitled. What they need to do is just skip their daily latte, pull themselves up by the bootstraps and make sure they have a 3-6 month emergency fund like the rest of us.
Money isn't real. None of it matters. We have "unlimited" money to pump into liquidity according to our beloved leaders.
Go big or go home. Kinda funny how they can print money to do anything they want except help lower income people. I love how the average person is expected to have enough to survive for 2 months without work but the Cheesecake factory cant make it 2 weeks before they need the government to bail them out at our expense.
I know a business owner who are going to bank 120k on this ppp loan and they haven't seen their business impacted at all. Y'all enjoy your 1200 bucks though.
Stuff like this pisses me off to no end. People are literally profiteering off of a crisis that is going to tank the entire country and they do it with a smile on their face. You'll be fine, I'll be fine, most of us on this site will be fine but a hell of a lot of people will come out of this and not be fine and it won't be because they caught a virus
I clipped a headline I saw last week and it said, "Dow Jones Surges 500 Points on Soaring Jobless Claims." I just looked at it for like 5 min. trying to make sense of what I was reading. This market is bananas. It looks like QE fixes everything, stocks will never crash again.
The Dow is 800 points higher than it was when as a nation we were getting only 300 new cases a day. We are 100x that every day now. We have several months left of essential business only and the government is now calling for 140k -240k deaths more than what we have now.
We've lost 10M jobs in 2 weeks and people are saying we could see 30% unemployment.
After quarantine is over there will still be risk for many Americans who didn't get sick in the peak and are not immune. This will lead to reduced demand for industry. We will have insane medical debt as a nation and premiums will be up 30% in 2021. When the vaccine comes out we'll still need to rehire to rebuild income and demand. That will take a quarter or 2.
The fact that we are only 25% from our high when we had no issues at all is mind boggling. This is fear of missing out by investors who are much more optimistic than I am.
Of course I may be totally wrong.
I'm waiting until June. Still think headlines will be good and bad for a few months. Some jobs won't be back immediately. If the market tanks, I'll be ready to buy.
I think you're pretty much right other than premiums going up 30%. That is highly, highly unlikely. The majority of people that have/will require expensive medical treatment are on medicare.
The hospitalization rate is high for all ages. You'll see this hit a lot of people who don't die.
Not really sure I'd need to do the math. I think that it will be hard for us to get back to normal through herd immunity unless like 60% of Americans have antibodies or a vaccine. It's hard to imagine that because we started with just a few infected from other countries and it blew up when we were taking our normal actions. With isolation in place It's harder to predict.
As soon as China opened back up they had 20000 people at some national park. What's stopping them from kicking a pandemic back off?
If we get to 60% then yeah 3M seems reasonable
This year.
I'm just doing some mental math here, not making predictions. 3 million is about 1% of the population. This has a 14% hospitalization rate so that would be something like 22 million total cases. Something like 40% of the population is on either medicaid or medicare. Average deductible for the other 60% is 6500 dollars. I just dont see any possible way that we could see enough cases in people who have private insurance exceeding their deductible to the extent that we could have a 30% rise in premiums.
Hell yeah brother buy stocks now If you're so sure. Interest rates are cheap. You can get a home equity loan for 3.25% and pump it into the market to ride that Trump wave up to a 30k Dow by the end of the year if you're so sure Trump will save the economy.
It all comes back to what measures we implement going forward throughout the year. Covid tracker lists 40k+ hospitalizations but some states don’t report hospitalizations. Even saying 60k hospitalizations, it’s only 2% of the 3 million number. The key for this first wave is we implemented social distancing measures early on when cases and deaths were basically nothing. If and when they are relaxed, we are going to see spikes until more effective treatments or a vaccine come into play. May have to deal with this coming and going until then and people are going to be less likely to adhere to stay at home measures the next time around or the time after.
I know you were being sarcastic, but that's actually good advice.
Valid points, although I'm not totally sure that we'll have the same kind of society the next time this hits. I could see a lot of people being much more cautious in general moving forward because of how scary this whole thing was. It takes a lot of time after a crisis before people return to being reckless.
You're assuming people aren't dumb. That's a big assumption. Events will be packed the moment they resume with more people than ever as everyone will be looking to get out and active again.
Boris Johnson is in the ICU. The Prime Minister of the UK might die from a disease that could easily ravage our own political leaders and stocks are WAY up when no good news has been introduced today. What is wrong with these people? I feel bad for them in a way but they are just soooooo eager to buy the dip that they don't realize the situation we are in.
