Posted on 04/15/2020 5:40:16 AM PDT by MeneMeneTekelUpharsin
How Wall Street performs is sometimes pretty disconnected from Main Street performance. And other times it is not.
Bank earning reports were known to be bad for weeks. This is not some sort of surprise to Wall Street.
And when you throw the doors open, what is going to happen?
Can’t make cars without stuff from China—and that is months away from coming back.
Can’t make planes when there is no one buying them.
Companies are going to realize they don’t need half the staff they had. And they won’t be called back.
The healthcare system is broken and broke.
The list goes on.
Like it or not, the global economy drives the local economy. And the global economy is frozen. That’s probably 20-30% of our GDP.
Throw open the doors. It will get a little better. And then it won’t.
Oh I did buy cheap then too.
But if you missed that you can buy some now too.
Or if you got your trump check (for those that get welfare) you can invest it.
Stuart Varney said that yesterday on Fox Business. I thought immediately, shoot time to sell. We are in for a retracement. Markets correct very quickly. They go back up with fits and starts, pull backs and push forward. They always take a lot longer to go up than down.
I HOPE you’re not an adviser? :)
market is up almost 30 percent from low already
sounds like you are some who missed out and hoping for a big drop to get a 2nd chance
you wont get it sorry
Futures up, futures down. That’s the way it works.
OK, let’s plant victory gardens and wait for the next world war to get us out of the depression. Whatever we do, we can’t “throw open the doors” of the American economy. Have you shortened your list since all the dire projections have turned out to be total panic driven BS? And no, the small businesses that are going out of business are not driven by the global economy. The roofer who can’t do his work or the bar or restaurant that can’t sell to the family down the street are not ruined by the bad global economy. Those thousands of businesses will die solely from the effects of this catastrophic and unnecessary national shutdown.
I think we need Trump bonds. We should be able to invest the $1200 as an after tax Roth IRA with no effect on the maximum contribution on normal Roths.
Did you make a separate thread when the market jumped 500 points yesterday? No? I didn’t think so. Will you be making a thread tomorrow if the market jumps, or do you only make threads like this when the market drops?
You do know that the market almost hit 24K yesterday, down from a low of in the 18000s. There is going to be up and down each day.
Again, why only make threads on the negative? It’s very suspicious and sounds “concerning.”
The roof is getting replaced on the house across the street. What world are you living in?
Business continues—differently than it did...but all of the outside of the home construction and landscaping that always takes place this time of year is happening.
Just because YOU are feeling like you are stuck in your home, there is still a lot going on.
I believe you have a very narrow view of what makes up the “economy.” I think you might believe that the stock market somehow reflects the economy. THAT concept went out the window with free money to do stock buy backs over the past ten years.
I think you need to review what is actually going on, what “opening” means, and what the economy is. Because you are basing it on what you read here, and what Rush is telling you.
The world is quite different.
Just reporting the financial news. PM if you want to know how to trade it.
Oh, OK the economy is not shut down. Your last post makes as much sense as STILL relying on the end of the world projections you are clinging to. I have three children, a doula, a landscaper and a manager at Kohls. They are all out of work in Ohio because of the lockdown. What do I believe, my eyes watching my unemployed children and their families suffer or your head in the sand BS?
You didn’t answer my question. Did you make a thread yesterday when the market was up? How about last week when the market had the best weekly gain since the 20s?
Move. For chrissakes, I live in MA—the home of US Communism...and the Governor did not issue a shut down. Imagine that.
I can see the roof getting put on down the street. The landscapers are working. They tree guys are at the other end of the street.
The Walmart is open. The Costco is open. The garden store is open. The grocery store is open.
The ONLY things not open are little boutiques, the movies, and restaurants. And the eateries are all doing take out.
Almost everyone I know is working from home. Very, very few people are completely out of work—and those that are, are collecting 60% salary + $600 a week. In MOST cases, they are doing as well—if not better.
The problem is not the Federal Government, it is your local government.
My “dire” predictions are based on spending time researching how the economy is going to look when you toss the doors open. You believe the people who think everything is going to swing back into place.
I think you need to look at who is working—and who is paying for stuff in Ohio—and where does that money come from. Ohio is an industrial/farming state. I am sure the farmers are fine. The industry either relies on foreign buyers or foreign parts. Neither of those exist and wont exist until the mid summer.
All you need to do is look at the 200,000 containers store in excess of the norm in the port of Shanghai. Not only is nothing coming OUT of China. Nothing is going INTO China—they still haven’t gotten the trains and trucks moving raw materials to plants.
The shipping capacity FROM Asian ports was reduced by 20% in MARCH. The shippers took the containers out of the system—because they are sitting idle, or they could not rent them.
The inbound freight from all of Asia is down about 17% in March.
You think that the local folks that your governor has shut down will swing back to work. That might happen. But within short order they will realize the people that used to come into the store, or get their hair done, or would pay for their new roof—are going to still be out of work.
We are on the verge of a world wide depression. If you are not mentally and financially prepared for deflation, you are going to find yourself in real trouble.
The pain is going to be harsh until Q4 and 21 Q1. Rush and Trump are not going to change that.
And it wasn’t the war itself that stopped the Depression. It was the lend-lease and huge draft that ended it. We would have been just fine without getting involved for another couple of years.
I'm in the Gay State too...and you forgot at least a few things. Gun shops are shut down...and the Natick Mall (one of the biggest malls in the country) is shut down as well.
Crickets from MeneMeneTekelUpharsin?
Probably has a few dinars/shekels/rupees/peso’s in his pocket, and waiting to buy very cheap stocks.
Man, folks don't want to hear that. We need to go after the people who caused all of this, but most are too cowardly to get up and go after them... Democrats and the media.
Not to mention airplanes are either flying empty or most flights cancelled, cruises shut down, house sales down, auto sales down, all malls closed, gas stations empty because lot less driving going on, cars are not wearing out so future car sales will be down, tire sales will be down, people canceling routine appointments with doctors (me included, canceled my 6 month check with doc), Home Depot is limiting people in store so sales are down, so are many others, oil consumption is down causing more layoffs in energy industry, people can postpone mortgage payments and rents by the new law which is going to hurt banking, and these are just a few items from top of my head.
Yes, gun shops are down.
How often are you going to a gun shop? I understand the second amendment argument, but in Western MA the local gun shops are generally locations where fat pretend preppers go and sit and yap about how their rights are being infringed. Not exactly different than shutting down the coffee shop—but I will give you that.
What pissed me off is the outdoor range in Monson was shut down. First of all, the pits are off set and at least 20 yards from each other. Second...its friggin Monson. No one is in Monson to be close to.
Finally, the only thing in the Mall that is worth going to is Wegmans. The Natick mall, and the one in Chestnut Hill are probably the only malls the are still pulling in any crowds. The Holyoke Mall, the largest square foot mall in New England, was half empty. And really, no one is going to Holyoke.
I guess my point is if we think being Locked Down means not being able to go to Best Buy to buy stuff from China...go back and read my post. Best Buy will probably be filing for bankruptcy in months anyway.
Retail is where folks go to spend money. There is going to be very little “money” to spend.
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