Doc Brown Posted March 23, 2020 Share Posted March 23, 2020 (edited) 1 hour ago, jrober38 said: The economy is going to be destroyed by the end of April. If this lasts more than a few months, which seems likely give the curve the US is tracking along, the economy will crash. First the hotel, airline and restaurant industries will fail. Then autos will begin to fail as no one will be buying cars anymore. Same for real estate construction. This is going to be a colossal disaster. No other way to put it. As long as it doesn't delay the NFL draft. It'll be interesting to see if it does get bad if we just lift the curfew and tell everyone at highest risk to self quarantine. Everybody else just get back to work and life as usual. Hopefully it won't come to that. Edited March 23, 2020 by Doc Brown 1 Link to comment Share on other sites More sharing options...
RochesterRob Posted March 23, 2020 Share Posted March 23, 2020 51 minutes ago, jrober38 said: The government is going to have to start shipping people money every month. That is going to be the only option with unemployment upwards of 15%. 23 minutes ago, jrober38 said: I own multiple firearms. I have no belief that I'll have to use them. I didn't edit anything. You edited the first reply 49 minutes ago. Trudeau will make you turn your liberal card having multiple firearms. You hope that you will not have to use them but if times get real hard and people think that you have items of value then who knows. Link to comment Share on other sites More sharing options...
KD in CA Posted March 23, 2020 Share Posted March 23, 2020 7 hours ago, Chef Jim said: What about renters? I guess we already have protections in place? Sure...you live in CA. Will take about four years to evict you for non-payment. Link to comment Share on other sites More sharing options...
Foxx Posted March 23, 2020 Share Posted March 23, 2020 (edited) 12 hours ago, jrober38 said: The economy is going to be destroyed by the end of April. If this lasts more than a few months, which seems likely give the curve the US is tracking along, the economy will crash. First the hotel, airline and restaurant industries will fail. Then autos will begin to fail as no one will be buying cars anymore. Same for real estate construction. This is going to be a colossal disaster. No other way to put it. while we really don't know it yet, we have a much more pressing concern than the economy. that is, the just in time (JIT) supply system. how prepared are people to shelter in place do you think? most have what, two weeks worth of food, maybe? what happens then, they need to restock. as i have said previously, we are already seeing signs of the JIT supply system being stressed, those signs being empty shelves in the grocery stores and an inability for people to get items such as toilet paper. what is going to happen two weeks from now is that that stress is going to back up into that supply chain even further causing breakdowns in quite possibly unsuspecting ways. as more and more states go into complete shutdown and limit people and businesses to 'essentials' only, the JIT problem compounds. from the cornfield to the dinner table, the entire economy is interlinked. what is deemed nonessential today is going to be found to have been the missing link tomorrow. when people's stomachs start growling, you can be sure that they are going to act in irrational ways and do the unthinkable. do not be fooled chaos is right around that corner. Edited March 23, 2020 by Foxx 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 23, 2020 Share Posted March 23, 2020 9 hours ago, KD in CA said: Sure...you live in CA. Will take about four years to evict you for non-payment. Cool!! ? Link to comment Share on other sites More sharing options...
RochesterRob Posted March 23, 2020 Share Posted March 23, 2020 15 minutes ago, Foxx said: while we really don't know it yet, we have a much more pressing concern than the economy. that is, the just in time (JIT) supply system. how prepared are people to shelter in place do you think? most have what, two weeks worth of food, maybe? what happens then, they need to restock. as i have said previously, we are already seeing signs of the JIT supply system being stressed, those signs being empty shelves in the grocery stores and an inability for people to get items such as toilet paper. what is going to happen two weeks from now is that that stress is going to back up into that supply chain even further causing breakdowns in quite possibly unsuspecting ways. as more and more states go into complete shutdown and limit people and businesses to 'essentials' only, the JIT problem compounds. from the cornfield to the dinner table, the entire economy is interlinked. what is deemed nonessential today is going to be found to have been the missing link tomorrow. when people's stomachs start growling, you can be sure that they are going to act in irrational ways and do the unthinkable. do not be fooled chaos is right around that corner. If I had to guess most people do not have two weeks equivalent of food in their homes. The trouble is quite a bit of our food is perishable. It can not be readied for the shelf weeks in advance. However, that should not be an excuse to not have an extra box of rice or pasta on your shelf. An extra box of cereal. A half dozen cans of vegetables and a half dozen cans of soup. My guess as of this morning states such as NY will be in "shut down" for a couple more weeks minimum. If some predictions of being shutdown until May 1 come true then look out. 1 Link to comment Share on other sites More sharing options...
GG Posted March 23, 2020 Author Share Posted March 23, 2020 Just now, RochesterRob said: If I had to guess most people do not have two weeks equivalent of food in their homes. The trouble is quite a bit of our food is perishable. It can not be readied for the shelf weeks in advance. However, that should not be an excuse to not have an extra box of rice or pasta on your shelf. An extra box of cereal. A half dozen cans of vegetables and a half dozen cans of soup. My guess as of this morning states such as NY will be in "shut down" for a couple more weeks minimum. If some predictions of being shutdown until May 1 come true then look out. NYS does not need a lock down! Only NYC 3 Link to comment Share on other sites More sharing options...
RochesterRob Posted March 23, 2020 Share Posted March 23, 2020 2 minutes ago, GG said: NYS does not need a lock down! Only NYC It's not up to us citizens. 1 Link to comment Share on other sites More sharing options...
GG Posted March 23, 2020 Author Share Posted March 23, 2020 Just now, RochesterRob said: It's not up to us citizens. No, but would be the ultimate power play by Cuomo over Big Bird. Link to comment Share on other sites More sharing options...
Foxx Posted March 23, 2020 Share Posted March 23, 2020 18 minutes ago, RochesterRob said: If I had to guess most people do not have two weeks equivalent of food in their homes. The trouble is quite a bit of our food is perishable. It can not be readied for the shelf weeks in advance. However, that should not be an excuse to not have an extra box of rice or pasta on your shelf. An extra box of cereal. A half dozen cans of vegetables and a half dozen cans of soup. My guess as of this morning states such as NY will be in "shut down" for a couple more weeks minimum. If some predictions of being shutdown until May 1 come true then look out. the old proverb comes to mind... 'may you live in interesting times'. Link to comment Share on other sites More sharing options...
3rdnlng Posted March 23, 2020 Share Posted March 23, 2020 17 minutes ago, Foxx said: the old proverb comes to mind... 'may you live in interesting times'. And be sexually attacked by Demi Moore. Please don't throw me in the brier patch! 1 Link to comment Share on other sites More sharing options...
RochesterRob Posted March 23, 2020 Share Posted March 23, 2020 23 minutes ago, Foxx said: the old proverb comes to mind... 'may you live in interesting times'. I was thinking of Aesop's The Ant and the Grasshopper. 1 Link to comment Share on other sites More sharing options...
ALF Posted March 23, 2020 Share Posted March 23, 2020 With respect to the Stimulus Bill Congress—and in particular, the House of Representatives—is invested with the “power of the purse,” the ability to tax and spend public money for the national government. Not McConnell 1 Link to comment Share on other sites More sharing options...
3rdnlng Posted March 23, 2020 Share Posted March 23, 2020 47 minutes ago, ALF said: With respect to the Stimulus Bill Congress—and in particular, the House of Representatives—is invested with the “power of the purse,” the ability to tax and spend public money for the national government. Not McConnell I see, the Senate has no say in the matter? At present Nancy Pelosi, all by herself controls the House. Is this the hill you want to die on? Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 23, 2020 Share Posted March 23, 2020 The current health scare is real time proof that while the President is working with a team of doctors and professionals to get the country back on its collective feet, the Governors and the hacks in Congress are doing everything in their powers to shut things down and starve out the citizenry. 1 Link to comment Share on other sites More sharing options...
ALF Posted March 23, 2020 Share Posted March 23, 2020 7 minutes ago, 3rdnlng said: I see, the Senate has no say in the matter? At present Nancy Pelosi, all by herself controls the House. Is this the hill you want to die on? That's the Constitution , amend it to go around Pelosi. Elections have consequences , the House has a Democratic majority. The Senate has to negotiate with the House to find common ground that's how our system was built. Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted March 23, 2020 Share Posted March 23, 2020 9 Link to comment Share on other sites More sharing options...
3rdnlng Posted March 23, 2020 Share Posted March 23, 2020 9 minutes ago, ALF said: That's the Constitution , amend it to go around Pelosi. Elections have consequences , the House has a Democratic majority. The Senate has to negotiate with the House to find common ground that's how our system was built. That's the attitude. Cause a lot of economic pain for the country and get slammed in the elections coming up. Link to comment Share on other sites More sharing options...
Foxx Posted March 23, 2020 Share Posted March 23, 2020 (edited) beginnings of the bifurcation of the economy? Gas prices could soon drop to 99 cents a gallon in parts of the Midwest https://twitter.com/GasBuddyGuy/status/1242103015454244864 that's right, .34 cents a gallon, their secret is getting out. Edited March 23, 2020 by Foxx 3 1 Link to comment Share on other sites More sharing options...
3rdnlng Posted March 23, 2020 Share Posted March 23, 2020 4 minutes ago, Foxx said: beginnings of the bifurcation of the economy? Gas prices could soon drop to 99 cents a gallon in parts of the Midwest https://twitter.com/GasBuddyGuy/status/1242103015454244864 that's right, .34 cents a gallon, their secret is getting out. Cat-Rez in Irving was at $1.26 this am. 1 1 Link to comment Share on other sites More sharing options...
Boatdrinks Posted March 23, 2020 Share Posted March 23, 2020 Seems $2.39 is still holding strong in the BUF. Strange . That’s for regular, paid $ 2.91 for premium on Friday. 1 Link to comment Share on other sites More sharing options...
3rdnlng Posted March 23, 2020 Share Posted March 23, 2020 1 minute ago, Boatdrinks said: Seems $2.39 is still holding strong in the BUF. Strange . That’s for regular, paid $ 2.91 for premium on Friday. They are gouging in Buffalo. When there's that big of a spread between the reservation gas and non reservation gas then you know something is wrong. Reservation stations are not going to price gasoline at a loss. 1 Link to comment Share on other sites More sharing options...
Warren Zevon Posted March 23, 2020 Share Posted March 23, 2020 On 3/3/2020 at 12:13 PM, Tiberius said: There’s talk of stimulus spending. Bailing out small businesses, infrastructure to pump up the economy. All that will have to run through Madam Speaker On 3/3/2020 at 12:30 PM, 3rdnlng said: Link? On 3/3/2020 at 12:31 PM, B-Man said: Thank you. . @Tiberius right on the money as usual. Thank you for this insider information. 1 Link to comment Share on other sites More sharing options...
Foxx Posted March 23, 2020 Share Posted March 23, 2020 Just now, Gary Busey said: @Tiberius right on the money as usual. Thank you for this insider information. wrong again you mean. the Senate will pass the right bill and not an omnibus filled with pork for Dem pet projects. Link to comment Share on other sites More sharing options...
TPS Posted March 24, 2020 Share Posted March 24, 2020 In case anyone was interested in some economics, the Fed is throwing trillions of dollars into the financial system, stated it will buy as many T-bonds as necessary, intervening in new markets, propping up corporate debt markets, and probably keeping all the Wall Street banks solvent. The Fed has unlimited ammunition. On the fiscal side, we are talking a $2 trillion package. Where will they get all of that money as the economy is collapsing? A crisis exposes a lot of falsehoods about economics... Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted March 24, 2020 Share Posted March 24, 2020 9 hours ago, ALF said: Elections have consequences That's rich. Link to comment Share on other sites More sharing options...
B-Man Posted March 24, 2020 Share Posted March 24, 2020 +2,113 DOW rebounds more than 11% in best day since 1933 as Congress is working on coronavirus stimulus deal VERNON SMITH: Coronavirus economy: Reports of an economic crash have been greatly exaggerated. “The economy today lives in suspense, not free-fall. The pandemic will pass. Supply chains will refill. Securities markets will recover, and growth will continue.” I think this is right. I certainly hope so. . 2 Link to comment Share on other sites More sharing options...
bbb Posted March 24, 2020 Share Posted March 24, 2020 3 minutes ago, B-Man said: best day since 1933 as Congress is working on coronavirus stimulus deal ***** - I knew I should have had US Steel and Standard Oil then! 1 Link to comment Share on other sites More sharing options...
3rdnlng Posted March 24, 2020 Share Posted March 24, 2020 37 minutes ago, B-Man said: +2,113 DOW rebounds more than 11% in best day since 1933 as Congress is working on coronavirus stimulus deal VERNON SMITH: Coronavirus economy: Reports of an economic crash have been greatly exaggerated. “The economy today lives in suspense, not free-fall. The pandemic will pass. Supply chains will refill. Securities markets will recover, and growth will continue.” I think this is right. I certainly hope so. . I just hope I can hold it until Charmin gets stocked. 1 Link to comment Share on other sites More sharing options...
TPS Posted March 24, 2020 Share Posted March 24, 2020 50 minutes ago, B-Man said: +2,113 DOW rebounds more than 11% in best day since 1933 as Congress is working on coronavirus stimulus deal VERNON SMITH: Coronavirus economy: Reports of an economic crash have been greatly exaggerated. “The economy today lives in suspense, not free-fall. The pandemic will pass. Supply chains will refill. Securities markets will recover, and growth will continue.” I think this is right. I certainly hope so. . Glad to see that since I decided to buy in again yesterday. However, I'm not confident we've seen a bottom, especially as NYC gets slammed over the next 7-10 days. 1 Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 24, 2020 Share Posted March 24, 2020 (edited) 2 hours ago, TPS said: Glad to see that since I decided to buy in again yesterday. However, I'm not confident we've seen a bottom, especially as NYC gets slammed over the next 7-10 days. Don't misinterpret what I write, but I always get a kick here when someone on the board comments how glad they were to buy at the right moment. It always makes me think of my gambling buddy. "Dude, I got five blackjacks last night! I mean, I lost the other 87 hands, but I got five blackjacks last night!" Edited March 24, 2020 by IDBillzFan Link to comment Share on other sites More sharing options...
TPS Posted March 24, 2020 Share Posted March 24, 2020 Just now, IDBillzFan said: Don't misinterpret what I write, but I always get a kick here when someone on the board comments how glad they were to buy at the right moment. It always makes me think of my gambling buddy. "Dude, I got five blackjacks last night! I mean, I lost the other 87 hands, but I got five blackjacks last night!" Don't misinterpret what I write, but I always get a kick here when someone on the board comments how glad they were to buy at the right moment. It always makes me think of my gambling buddy. "Dude, I got five blackjacks last night! I mean, I lost the other 87 hands, but I got five blackjacks last night!" As I said, I'm not confident it was the right moment. If I was confident it was the right moment, then I would've gone all in with my cash position. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 24, 2020 Share Posted March 24, 2020 Just now, TPS said: As I said, I'm not confident it was the right moment. If I was confident it was the right moment, then I would've gone all in with my cash position. I know. I'm not being critical of you, per se. It's just the first thing that pops in my head. Link to comment Share on other sites More sharing options...
TPS Posted March 24, 2020 Share Posted March 24, 2020 Good timing.... https://www.wsj.com/articles/bezos-other-corporate-executives-sold-shares-just-in-time-11585042204?mod=hp_lead_pos4 Quote Top executives at U.S.-traded companies sold a total of roughly $9.2 billion in shares of their own companies between the start of February and the end of last week, a Wall Street Journal analysis shows. The selling saved the executives—including many in the financial industry—potential losses totaling $1.9 billion, according to the analysis, as the S&P 500 stock index plunged about 30% from its peak on Feb. 19 through the close of trading March 20. Link to comment Share on other sites More sharing options...
3rdnlng Posted March 24, 2020 Share Posted March 24, 2020 24 minutes ago, TPS said: As I said, I'm not confident it was the right moment. If I was confident it was the right moment, then I would've gone all in with my cash position. You might not have bought at the bottom but so what? I'm saying that you bought well below what it'll be in a month or two. Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted March 24, 2020 Share Posted March 24, 2020 (edited) 2 minutes ago, 3rdnlng said: You might not have bought at the bottom but so what? I'm saying that you bought well below what it'll be in a month or two. That is what I figured when I started buying... and what I've been saying to Hubby as he waits for the market to go down more. (To be fair, he's been tracking specific stocks for a few weeks now... he could have pulled the trigger a few times. I just wish he would.) . Edited March 24, 2020 by Buffalo_Gal Link to comment Share on other sites More sharing options...
Chef Jim Posted March 25, 2020 Share Posted March 25, 2020 You guys (and gal) are funny. 1 Link to comment Share on other sites More sharing options...
3rdnlng Posted March 25, 2020 Share Posted March 25, 2020 5 minutes ago, Chef Jim said: You guys (and gal) are funny. I know, we all should give you the money to invest, right? Link to comment Share on other sites More sharing options...
Chef Jim Posted March 25, 2020 Share Posted March 25, 2020 2 minutes ago, 3rdnlng said: I know, we all should give you the money to invest, right? Someone who doesn’t say something stupid like this: I'm saying that you bought well below what it'll be in a month or two. Link to comment Share on other sites More sharing options...
3rdnlng Posted March 25, 2020 Share Posted March 25, 2020 1 minute ago, Chef Jim said: Someone who doesn’t say something stupid like this: I'm saying that you bought well below what it'll be in a month or two. IMO. Everybody has the right to guess. Link to comment Share on other sites More sharing options...
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