I know nothing about economics... but what if Trump came out and basically put a hold on the economy for 2-4 weeks. Executive order saying no one (people, small or large businesses) has to pay rent/mortgage, no car loan payments, no bills or debt of any kind. Basically no one owed anyone anything and the government gave each person/family enough money to pay food and gas to get to and from work. The government/federal bank would foot the bill for any debts people or companies owed to other countries. Would anything like this even work? Seems like where we are headed toward massive unemployment and depression with the current trajectory so why not try something totally outside of the box?? Again I know nothing about real world economics so please just humor me a bit 🙂
Two Reasons Stocks Could Fall Another 20% To 40%
While the stock markets have fallen over 30% in just five weeks, additional pain may be in store. Using estimates for S&P 500 earnings and various PE multiples, the Index could rise from here but could also fall an additional 20% to 40%.www.forbes.com
Oh look, Forbes is predicting a worst case scenario of exactly 1350 for the S&P 500 just like I predicted many days ago...
I'll be retiring 3-4 years earlier (if not more) if we are lucky enough for it to fall that far.
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I wish I were an attending right now, because this is going to be a hell of a time to invest in the market and real estate. Probably going to have a 5-10 year recovery time tho
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deleted126335
“What gets us into trouble is not what we don't know. It's what we know for sure that just ain't so.”
― Mark Twain
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deleted171991
The People in Charge See an Opportunity
Around the world, rulers are using the pandemic as an excuse to grab more power. And the public is going along with it.
I feel similar. My time to invest is on a 3-5 year timeframe before I can really start pouring money into the market (loans would be paid off, military attending salary supplemented with locums/moonlighting work). Nevertheless, I will start as soon as I am able as I don't expect the market to recover as fast as it fell.
Yeah, he can't do that. If you're living in my house and you owe me money for rent, the president doesn't get to say you can live in my house free, that the bank doesn't get to collect the mortgage payment I owe it, that the city/county/state doesn't get to collect the property taxes I owe on it, that the plumber doesn't get to collect his fee for fixing the toilet you stopped up in my house.
The government can certainly throw cash at all parties, and it looks like that's what they're going to do, but the power to arbitrarily void any and all contracts is simply not there.
You realize everything Is interconnected. If people don’t have to pay rent then real estate becomes worthless. Nobody pays the mortgage, then the banks go belly up. The country goes to ****. You can always print more money, but then it becomes worthless...
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To everyone still going to work amid uncertianty...the real heroes.
Completely buy and take profit. Just like today was in and out of SOXS and SOXL for an overall profit of 11%, Bought and sold about 7 times, constantly updating my stop losses to lock in profits. Still holding some SOXL that I got at 63 earlier today, now it's up to 71 with stop loss in at 68 seeing if I can get a bigger bump if the stimulus package makes it through congress this afternoon.
Honestly it's pretty nerveracking, some days I stay completely on the sidelines just for my own mental health, or because I don't have a good sense of what the markets might do.
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deleted643396
But can the government stop evictions from happening? I genuinely don’t know the answer to that. As far as I know, evictions require courts and judges. Unless landlords are prepared to throw tenants out under the threat of force, the government can hold up evictions, right?
Guess what if I was living in an $2500 apartment in Manhattan and lost my job and couldn’t pay my rent and the landlord came to evict me I wouldn’t leave. I wouldn’t let my kids become homeless. I would organize with other tenants of the building, take up arms and dare the landlord to evict us.
This would be a good time to slow loan repayments and DCA in. The loans can be taken care of later.
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deleted171991
Evictions take months and court involvement. Courts are closed. Ergo...
To everyone still going to work amid uncertianty...the real heroes.
Unsure whether this picture is supposed to be funny, sexy, or ironic.
Right but this wouldnt be a forever thing. Im talking about for 4-6 weeks and then everything goes back to normal. Basically just “pause” all bills, debts, etc until the virus is contained. Seems like a great way to ease everyones fears about losing their jobs, going bankrupt. Its a pie in the sky idea but the economy is going to crap out anyways.
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deleted162650
QED about the lack of scientific education:
Spit On, Yelled At, Attacked: Chinese-Americans Fear for Their Safety (Published 2020)
As bigots blame them for the coronavirus and President Trump labels it the “Chinese virus,” many Chinese-Americans say they are terrified of what could come next.www.nytimes.com
Can we all agree to stop saying “The China Virus” and use the correct term: The Kung Flu.
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deleted171991
Calvasina noted that the recent price action in the S&P 500 resembled the path at the heart of the financial crisis in 2008. If the benchmark stays on its current trajectory, history suggests that it could bottom in the 1,600 – 1,800 range before turning higher, Calvasina sai
- It took the S&P 500 only 22 trading days to fall 30% from its record high reached on Feb. 19, making it the fastest drop of this magnitude in history, according to data from Bank of America Securities.
- The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively.
- Investors continued to dump equities as they feared that the economic fallout from the coronavirus outpaced the actions from global central banks and governments.
- “Do not believe that any equity market stabilization is a sign of an investable bottom in US stocks,” DataTrek Research co-founder Nick Colas said. “The next flush down could, in other words, be days rather than weeks away.”
No, it's not. The money is still owed. And eventually it will be due, and it will be paid, or the person will be evicted, sent to collections, 1099'd for the loss, etc. Maybe the landlord never collects a cent, maybe he does. That's entirely different than the president somehow magically voiding every contract with a thread inside or touching the United States. Let's not be ridiculous.
Or let's ... 🙂 ... maybe the world melts down completely and Nephro Critical Care really does "take up arms" 😵 against his landlord, only to find that his landlord isn't actually some faceless corporation his ear-gauged barista told him about over a joint, but rather a person just like him except in possession of a mortgage that is barely (or not) covered by the rent, is a person who owes money to the bank (which actually is the faceless corporation his coffee-shop co-revolutionary mumbled about), and is a person who is also armed ... and willing to spend 20 minutes with a mop and a sponge to get the apartment tidied up and back on the market.
Anyway, the debt isn't just forgiven and the contract isn't just gone.
It appears there's a theme to his art work
Burgers & Fries Fine Art Print
High quality print of my artwork Printed on Ultra Premium Presentation Matte paper Borderless Watermark on the image will NOT be on your print, it's just to protect the artwork
lvbart.com
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deleted171991
Merkel bans meetings of more than 2 people to slow coronavirus
German chancellor warns of consequences for violators of new measures.
www.politico.eu
"I would argue that the administration needs to start pivoting and moving to phase two and letting everybody know that this ends on a date certain and that we're going move to a new approach because we will destroy our economy if this continues much longer," Strassel contended.
Joel Griffith, a research fellow for the Institute for Economic Freedom and Opportunity at the Heritage Foundation, warned that measures to stop the spread of the virus have pushed too many businesses to the brink of bankruptcy.
"Most of these businesses don't have cash in the bank that can sustain them past three or four weeks being shut down," said Griffith. "We can handle a two-week shutdown. We can't handle a two-month shutdown.
AMERICAN RED CROSS CALLS FOR MORE BLOOD DONATIONS
"I know there's a lot of proposals being circulated and talked about in the Senate right now, in the House, to do these massive bailouts," he continued, "but the fact is, you can't print enough money. You can't borrow enough money to bail out each and every business that will go broke."
As an alternative, Dr. Siegel proposed that the country may be better served by adopting a "mitigation strategy" to slow the spread of the virus, instead of a near-complete shutdown of person-to-person contact.
Joel Griffith, a research fellow for the Institute for Economic Freedom and Opportunity at the Heritage Foundation, warned that measures to stop the spread of the virus have pushed too many businesses to the brink of bankruptcy.
"Most of these businesses don't have cash in the bank that can sustain them past three or four weeks being shut down," said Griffith. "We can handle a two-week shutdown. We can't handle a two-month shutdown.
AMERICAN RED CROSS CALLS FOR MORE BLOOD DONATIONS
"I know there's a lot of proposals being circulated and talked about in the Senate right now, in the House, to do these massive bailouts," he continued, "but the fact is, you can't print enough money. You can't borrow enough money to bail out each and every business that will go broke."
As an alternative, Dr. Siegel proposed that the country may be better served by adopting a "mitigation strategy" to slow the spread of the virus, instead of a near-complete shutdown of person-to-person contact.
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deleted171991
Oopsie Daisy:
nymag.com
2020 Tokyo Olympics Postponed Due to Coronavirus
The Games will instead take place in the summer of 2021, Japanese Prime Minister Shinzo Abe said Tuesday
nymag.com
Blade, you are seriously grasping at straws.
Let's just say if we reopen Monday, there will be A LOT more harm done in the long run to the economy.
Let's just say if we reopen Monday, there will be A LOT more harm done in the long run to the economy.
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deleted87051
I can predict Blade’s posts by looking at what’s trending on conservative twitter. HCQ, greater good, yada yada. I’m expecting something about people jumping out of NYC apartments and Avigan soon.
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Also fox news, fox business, and cnbc.
It's hilarious watching all these business buffs talk about clinical trials by Regeneron and Gilead. They literally don't know what the hell they are talking about. All they care about is their damn brokerage accounts, healthcare be damned.
Sad, again just showcasing how out of touch they are with what most people are going through.
It's hilarious watching all these business buffs talk about clinical trials by Regeneron and Gilead. They literally don't know what the hell they are talking about. All they care about is their damn brokerage accounts, healthcare be damned.
Sad, again just showcasing how out of touch they are with what most people are going through.
Dick Pound? Fo' real!?Oopsie Daisy:
2020 Tokyo Olympics Postponed Due to Coronavirus
The Games will instead take place in the summer of 2021, Japanese Prime Minister Shinzo Abe said Tuesday
"Mr. Mnuchin declined to provide specifics, but said the two sides were “very close” to a deal. “We are knocking down the issues,” he said. “We have been working all morning and we are not leaving until we have a deal.”
At the heart of the impasse is a $425 billion fund created by the bill that the Federal Reserve could leverage for loans to assist broad groups of distressed companies, and an additional $75 billion it would provide for industry-specific loans. Democrats have raised concerns that the funds do not have rules for transparency or enough guardrails to make sure companies do not use the funds to enrich themselves or take government money and lay off workers. They also argue the measure would give Mr. Mnuchin too much discretion to decide which companies receive the funds, calling the proposal a “slush fund” for the administration.
As the legislation is currently written, Mr. Mnuchin would not have to disclose the recipients until six months after the loans were disbursed. Some Democrats also objected to loopholes in the legislation they said could allow Mr. Trump’s real estate empire to take advantage of the federal aid."
Even in a crisis, just utterly corrupt to the bone. It's amazing the kind of brainwashing required to say "drained the swamp" with a straight face
At the heart of the impasse is a $425 billion fund created by the bill that the Federal Reserve could leverage for loans to assist broad groups of distressed companies, and an additional $75 billion it would provide for industry-specific loans. Democrats have raised concerns that the funds do not have rules for transparency or enough guardrails to make sure companies do not use the funds to enrich themselves or take government money and lay off workers. They also argue the measure would give Mr. Mnuchin too much discretion to decide which companies receive the funds, calling the proposal a “slush fund” for the administration.
As the legislation is currently written, Mr. Mnuchin would not have to disclose the recipients until six months after the loans were disbursed. Some Democrats also objected to loopholes in the legislation they said could allow Mr. Trump’s real estate empire to take advantage of the federal aid."
Even in a crisis, just utterly corrupt to the bone. It's amazing the kind of brainwashing required to say "drained the swamp" with a straight face
smh, you guys think blade is trying to predict the market here?
Nobody can predict the market
Now that's the kind of retaliation against the poor working class I wouldn't have thought you were capable of, but here we are! To hell with the tens of thousands of service workers! Orange man bad!!!!!
LOL, "retaliation." GTFO. Bunch of immoral pr*cks taking advantage of the situation and the working class so you can rush a bailout with no accountability through for corporations
No. Re-open in 2-3 weeks for a bit. Let businesses go back to work and let the economy function. If the virus spikes up again we can go on lock-down once more.
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deleted171991
We're going to play catch with the virus, yay!
No cheating with aerosols allowed.
No cheating with aerosols allowed.
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Trump can't allow the economy to remain closed for a long period of time. His re-election depends on 2 things: Coronavirus containment and economic prosperity. I have no idea how long this country can remain closed for business and still bounce back enough for "prosperity" so Trump wins the election. I suspect that any shut-down longer than 4 weeks will do a great deal of economic harm exceeding the harm from Covid 19.
"I know nothing about economics...."
Congratulations. If this medicine thing doesn't work out for you you are perfectly qualified to be a politician, wall street analyst, or a position in financial markets media coverage.
Just admit it, you're smiling at the possibility of tens of thousands of service workers employed by Trump to get laid off. It's sick, but not totally unexpected. Orange man bad!!!!!
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deleted126335
The Orange man is bad. Horrific, actually.
Back to your delusional nutjob ways, I see. Yep, the Bernie supporter hates the workers!
if we stay closed another 4 weeks we are all going down with the titanic, Republicans and Democrats
we gotta roll the dice and get back to business
Partisans focus on the word "Trump." I focus on the trend. ****ing forget the 2020 election, that drop spells unfathomable human misery to come.
Why should our country's lives, livelihood and wellbeing depend on Trump's chances for re-election? **** him and the horse he rode in on.
Like all Communists before Bernie, the worker is just a pawn for the elitists to control an economy.
In your case, you hope that Trump organization employees don't get any relief from the federal government.
It's not their fault that China didn't stop the coronavirus, why should they suffer for it? Oh, right, they're associated with Trump, thus they're acceptable casualties.
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