Tiberius Posted May 21, 2020 Share Posted May 21, 2020 “The worst is behind us,” declared Herbert Hoover in 1930. Two years later, Franklin Roosevelt won the presidency by an 18-point margin, capturing 42 states. Link to comment Share on other sites More sharing options...
BillStime Posted May 21, 2020 Share Posted May 21, 2020 28 minutes ago, Buffalo_Gal said: Or not letting them get back to their jobs for .... how much longer? If only Trump took leadership - bold leadership - when his intelligence told him in November about the virus. Or maybe we would have been more prepared had Trump not absolutely destroyed our pandemic preparedness and infrastructure the past three years. Bold leadership requires foresight - and Trump comes up empty on all fronts. Gotta love Trumps economy lol 1 Link to comment Share on other sites More sharing options...
keepthefaith Posted May 21, 2020 Share Posted May 21, 2020 1 minute ago, BillStime said: Nice try but Trump is the one who opposes extending the $600 boost in weekly unemployment benefits as jobless levels reach record highs Unemployment is funded at the state level and by businesses within states so let the states based on their own policies and their own situations decide to extend it or not. The Federal government extended a benefit for a while, at some point the states have to deal with it themselves. Link to comment Share on other sites More sharing options...
GG Posted May 21, 2020 Author Share Posted May 21, 2020 3 minutes ago, BillStime said: Nice try but Trump is the one who opposes extending the $600 boost in weekly unemployment benefits as jobless levels reach record highs Let me get this straight, in one post you complain that unemployment is too high, and then complain that there aren't enough unemployment benefits? Have you been called a partisan idiot today yet? 2 Link to comment Share on other sites More sharing options...
BillStime Posted May 21, 2020 Share Posted May 21, 2020 1 hour ago, GG said: Let me get this straight, in one post you complain that unemployment is too high, and then complain that there aren't enough unemployment benefits? Have you been called a partisan idiot today yet? keep up gee gee Link to comment Share on other sites More sharing options...
B-Man Posted May 22, 2020 Share Posted May 22, 2020 Link to comment Share on other sites More sharing options...
Tiberius Posted May 22, 2020 Share Posted May 22, 2020 6 minutes ago, B-Man said: Yup, not like were are all connected in the same economy or anything. Stupid cartoon. Just really stupid. But that ignorance is good! Link to comment Share on other sites More sharing options...
Tiberius Posted May 22, 2020 Share Posted May 22, 2020 Just remember Nancy Pelosi is a communist/Leninist Communists and we should not allow her to save the economy! Americans stopped paying mortgages in record numbers in April Record unemployment caused by the coronavirus pandemic led to the largest one-month increase in mortgage delinquencies ever recorded. The number of borrowers who stopped paying their home loans spiked by 1.6 million last month, according to Black Knight, a real estate data and analytics company. Not even during the Great Recession did delinquencies rise this fast. The national delinquency rate soared to 6.45 percent in April, up from 3.06 percent in March and three times the previous single-month record set in 2008. The 3.6 million borrowers now past due on their payments are the most since 2015. The states that had the biggest increases in delinquent mortgages include Nevada (5.2 percent increase), New Jersey (5.1 percent) and New York (4.9 percent). Miami (7.2 percent), Las Vegas (6.2 percent) and New York City (5.4 percent) topped the metropolitan areas. Read more here. Link to comment Share on other sites More sharing options...
Tiberius Posted May 24, 2020 Share Posted May 24, 2020 Evictions loom for many renters as state bans end Tenants nationwide are facing the possibility of getting kicked out of their homes as officials lift bans on evictions intended to protect renters amid the mounting economic fallout from the coronavirus pandemic. Even with tens of millions of people out of work and the United States recording job losses not seen since the Great Depression, major metropolitan areas are allowing eviction restrictions to expire, threatening tenants who have been unable to pay rent because of reduced income or job loss on account of the public health emergency. In Houston, eviction hearings resumed last week after the Texas Supreme Court lifted the state’s moratorium, as Houston Public Media reported. Renters could start getting forced out of their homes and businesses as early as May 26. Evictions are also looming over renters in Kansas City, Mo., where proceedings are set to resume at the beginning of June. Tenants are rallying to persuade officials to extend protections that were put in place along with the city’s stay-at-home order. “After this pandemic hit, both of my main jobs ended. And to be honest, I’m quite scared,” Ashley Johnson of the organization KC Tenants told KMBC last week. “I’m scared for my children and I.” In Florida, the Tampa Bay Times reported that hundreds of eviction cases are awaiting action in Florida courts, having piled up during Gov. Ron DeSantis’s stay. It’s unclear what will happen to the pending cases when the order expires June 2. Further complicating the process for renters and homeowners is the patchwork of policies that differ from county to county and state to state and include the eviction moratorium granted under the Cares Act, which prevents evictions of tenants in federal rental housing or those with federally backed mortgages for missing payments. 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted May 24, 2020 Share Posted May 24, 2020 BEST PANDEMIC EVER!!!!! 1 Link to comment Share on other sites More sharing options...
B-Man Posted May 26, 2020 Share Posted May 26, 2020 Stock roared Tuesday coming off the holiday weekend,The Dow Jones industrial average shot up nearly 600 points Tuesday, about 2.5 percent, on the heels of its 3.3 percent gain last week. The New York Stock Exchange on Tuesday reopened its floor, allowing traders back on under restrictions that include temperature checks, social distancing, masks and Plexiglas barriers. The pandemic forced it to shift to all-electronic trades on March 23. European markets swelled on Tuesday. The French CAC was up 1.24 percent, Britain’s FTSE 100 was up 1 percent and the German Dax gained .87 percent in mid-day trading. Asian markets boomed overnight, seeming ignoring rising tensions between the U.S. and China over a crackdown on pro-democracy activists in Hong Kong and China’s role in the coronavirus pandemic. Japan’s Nikkei up 2.5 percent, the Shanghai Composite up 1 percent and Hong Kong’s Hang Seng Index a robust 1.9 percent. (Excerpt) Read more at washingtonpost.com ... Link to comment Share on other sites More sharing options...
plenzmd1 Posted May 28, 2020 Share Posted May 28, 2020 On 5/22/2020 at 11:06 AM, Tiberius said: Just remember Nancy Pelosi is a communist/Leninist Communists and we should not allow her to save the economy! Americans stopped paying mortgages in record numbers in April BofA CEO on Squawk Box..said some really interesting thing 1) for checking accounts that had less than $5K ..average balance is up close to 40%. Indicating stimulus checks not spent, lots of fuel to add to consumer spending when we fully reopen. 2) Mortgage forbearance is dropping , not expanding. Almost 45% of people who asked for payment delays on either credit card or mortgage payments went ahead and made payments anyway. He makes the very real point that he is not sure that can continue if Unemployment insurance runs out before jobs come back..but interesting numbers none the less 1 1 Link to comment Share on other sites More sharing options...
Tiberius Posted May 28, 2020 Share Posted May 28, 2020 4 minutes ago, plenzmd1 said: BofA CEO on Squawk Box..said some really interesting thing 1) for checking accounts that had less than $5K ..average balance is up close to 40%. Indicating stimulus checks not spent, lots of fuel to add to consumer spending when we fully reopen. 2) Mortgage forbearance is dropping , not expanding. Almost 45% of people who asked for payment delays on either credit card or mortgage payments went ahead and made payments anyway. He makes the very real point that he is not sure that can continue if Unemployment insurance runs out before jobs come back..but interesting numbers none the less I like that point about pent up consumer spending, that happened after WW2 when people had all this cash and no way to spend it. At that time it caused inflation because the saved income was spent on scarce consumer goods. We don’t have a scarcity of goods now, so that will help make a quick turn around, hopefully. But the government will have to do to do another round of stimulus to smooth over the transition, IMO. See this? https://www.mediaite.com/tv/cnbc-segment-explodes-as-andrew-ross-sorkin-accuses-joe-kernen-of-being-in-the-tank-for-trump-during-crisis-100000-people-died/ 1 Link to comment Share on other sites More sharing options...
plenzmd1 Posted May 28, 2020 Share Posted May 28, 2020 5 minutes ago, Tiberius said: I like that point about pent up consumer spending, that happened after WW2 when people had all this cash and no way to spend it. At that time it caused inflation because the saved income was spent on scarce consumer goods. We don’t have a scarcity of goods now, so that will help make a quick turn around, hopefully. But the government will have to do to do another round of stimulus to smooth over the transition, IMO. See this? https://www.mediaite.com/tv/cnbc-segment-explodes-as-andrew-ross-sorkin-accuses-joe-kernen-of-being-in-the-tank-for-trump-during-crisis-100000-people-died/ watched it. live! ..why i like those guys, not afraid to give opinions and question/challenge guests as well. Andrew was a total douche to a guest earlier in the morning..but Joe can be just the same....entertaining stuff, learn a lot from their guests for sure 1 Link to comment Share on other sites More sharing options...
BillStime Posted May 28, 2020 Share Posted May 28, 2020 Who doesn’t love the Trump economy? 100,000 Americans died 40 MILLION UNEMPLOYED Link to comment Share on other sites More sharing options...
RochesterRob Posted May 28, 2020 Share Posted May 28, 2020 (edited) 1 hour ago, plenzmd1 said: BofA CEO on Squawk Box..said some really interesting thing 1) for checking accounts that had less than $5K ..average balance is up close to 40%. Indicating stimulus checks not spent, lots of fuel to add to consumer spending when we fully reopen. 2) Mortgage forbearance is dropping , not expanding. Almost 45% of people who asked for payment delays on either credit card or mortgage payments went ahead and made payments anyway. He makes the very real point that he is not sure that can continue if Unemployment insurance runs out before jobs come back..but interesting numbers none the less It's only now to where we would expect to see financial strain in most households. I would guess that most middle class families can find a way to ride out 30-60 days even if it requires some pain like selling the Harley. Given the unemployment numbers I would guess that the strain will be very apparent by late summer. Nice to hear from a business leader but they can put a spin on just like a politician. Seldom are you going to hear a tone of panic as that is bad for business. I could see checking accounts rise 40 percent in the short term due to gas expense saved (my wife commutes close to 50 miles one way per day), day care not needed due to parents being home, make a sandwich versus dropping several dollars for lunch eating out. Edited May 28, 2020 by RochesterRob 1 Link to comment Share on other sites More sharing options...
plenzmd1 Posted May 28, 2020 Share Posted May 28, 2020 (edited) 15 minutes ago, RochesterRob said: It's only now to where we would expect to see financial strain in most households. I would guess that most middle class families can find a way to ride out 30-60 days even if it requires some pain like selling the Harley. Given the unemployment numbers I would guess that the strain will be very apparent by late summer. Nice to hear from a business leader but they can put a spin on just like a politician. Seldom are you going to hear a tone of panic as that is bad for business. I could see checking accounts rise 40 percent in the short term due to gas expense saved (my wife commutes close to 50 miles one way per day), day care not needed due to parents being home, make a sandwich versus dropping several dollars for lunch eating out. Good points, but at least the business leaders have to answer to real numbers every 3 months, unlike the idiots on both sides of the aisle today. And great point on the checking account balances..and my guess is that WFH does impact that way..and that money might fuel pent up consumer demand as we open. Anecdotally, 2020 doing its thing seems to me and friends as well. So far during this shutdown i have 1) repaired an air handling unit to tune to $600 2) Needed to buy new grill..$700 3) Needed to repair irrigation system to tune of $500 4) had a car die, so bought new car 5) rejoined club as full golf member, cause what the hell else was i gunna do And seems like all my friends have had similiar things happen..Gods way of forcing us that spend i guess! Edited May 28, 2020 by plenzmd1 1 Link to comment Share on other sites More sharing options...
Tiberius Posted May 29, 2020 Share Posted May 29, 2020 He’s no King Midas Quote Stocks closed lower on Thursday, erasing solid gains from earlier in the day, after President Donald Trump said he would be giving a news conference Friday regarding China. https://www.cnbc.com/2020/05/27/us-stock-futures-flat-after-reopen-rally-puts-dow-back-above-25000.html Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted May 31, 2020 Share Posted May 31, 2020 2 Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted June 2, 2020 Share Posted June 2, 2020 I have no idea where to put this... JPMorgan, Barclays settle Mexican bond rigging litigation </snip> JPMorgan Chase & Co and Barclays Plc will pay $20.7 million to resolve investors’ claims they conspired to rig the Mexican government bond market, the first of nine banks in the proposed class-action litigation to settle. In a Monday night filing with the U.S. District Court in Manhattan, lawyers for the investors said the “ice breaker” settlements could be a catalyst for settlements with the other bank defendants. These defendants include affiliates of Banco Santander, Bank of America, BBVA, Citigroup, Deutsche Bank, HSBC and UBS. </snip> Link to comment Share on other sites More sharing options...
Recommended Posts