Is the stock market going to tank?

[Mazderati]

Numbers come out end of next week but that would seem to indicate the US unemployment rate is over 20%.

[ncskier]

that's an 18% unemployment level minimum(163mil workforce/30 mil) and it going to go up. millions of businesses will take this opportunity to not bring back a lot of costly people and automate jobs away.

I thought it doesn't count until you give up. So they won't show up in the official numbers yet, but yes your premise is sound

[Name Redacted]

2nd. have yet to go to a vegas casino but been in harrah's Tahoe enough to know distancing at a casino isn't going to work. lots of casinos, especially outside vegas are going to go under.

I read an article this morning about one casino owner, and Trump’s BFF, who said he had cash to wait this out for 20 years if he had to, and was just waiting for others to fold and pick up some good deals. Some casinos are coming from a good spot right now. Probably been banking money the last few years with the booming economy too.

But yeah there will of course be many that are not in that position, just like a lot of other businesses in other industries. Should be interesting consolidation going on the next few years.

[Toadman]

Who needs casinos? The best casinos on Earth are on Wall Street. High rollers be rolling...

[SkiCougar]

Who needs casinos? The best casinos on Earth are on Wall Street. High rollers be rolling...

saw story yesterday some gamblers have started day trading. I imagine within a year stories will be out of gamblers who got rich trading the market

[Benny Profane]

Yeah, uh, no.

[Lone Star]

My plan is to buy low and sell high. My plans don't always work out the way I planned them though.

I usually end up buying high and watching it drop. but if I buy more after a drop, my average price paid drops, so in the end, i win

[Platinum Pete]

I read an article this morning about one casino owner, and Trump’s BFF, who said he had cash to wait this out for 20 years if he had to, and was just waiting for others to fold and pick up some good deals. Some casinos are coming from a good spot right now. Probably been banking money the last few years with the booming economy too.

But yeah there will of course be many that are not in that position, just like a lot of other businesses in other industries. Should be interesting consolidation going on the next few years.

With the States and cities going broke from lack of federal support (thanks Mitch!) and lack of tax revenue, I bet more States allow for sports betting and other forms of gambling very soon as they chase revenue. More gamblers can go broke closer to home - no need to travel to the big gambling cities, riverboats, and reservations.

[Timberridge]

I don't think states need a lack of backstop funding to help them on their way to bankruptcy. Here's a cute story about NY.

https://www.buzzfeednews.com/article...got-69-million

[Benny Profane]

I don't think states need a lack of backstop funding to help them on their way to bankruptcy. Here's a cute story about NY.

https://www.buzzfeednews.com/article...got-69-million

There is so much of this going on with this "stimulus" money. There's a massive international money laundering network that can swallow up billions without a trace. The Trump family is set for generations.

[ncskier]

There is so much of this going on with this "stimulus" money. There's a massive international money laundering network that can swallow up billions without a trace. The Trump family is set for generations.

Like the Clinton dynasty and Haitian aide? Or the aptly named Clinton foundation. They should all be hung for grifting us in plain sight

[skaredshtles]

Like the Clinton dynasty and Haitian aide? Or the aptly named Clinton foundation. They should all be hung for grifting us in plain sight

[Ski220]

I don't think states need a lack of backstop funding to help them on their way to bankruptcy.

Whenever the government obtains a new source of revenue, it does not pay of it's debts, it just increases it's spending. Lottery, gambling, tolls and now legalized weed sales? What black hole has all that money disappeared into? Political patronage and spending designed to advance the dependency of the population on the government for their well being.

Years ago everybody's favorite governor (Cuomo), when he was campaigning was dead fast against legalization. Now that he is in the unbalanceable budget quandary he is for it.

[Toadman]

Like the Clinton dynasty and Haitian aide? Or the aptly named Clinton foundation. They should all be hung for grifting us in plain sight

Hmmm, kinda sounds like a banana republic to me. Which, if you think about how the country is being run under Trump, is fairly accurate.

[IVplay]

If anyone needs proof that the stock market is made up and doesn’t reflect the condition of most peoples’ economies, look no further than the March rallies. We’re back at where it was 12 months ago. Meanwhile there’s no spending going on, huge industries will be disrupted for years, and millions are unemployed.

I’m going cash heavy and waiting on the next crash, probably won’t have to wait too long (either an explosion of cases two weeks after all these idiots start acting like there’s no pandemic or in the fall when the disease really explodes and coincides with flu season.)

The stock market doesn’t represent the economy, it represents a basket of the largest/most profitable companies which have inherent advantages (cash, ease of raising $$ in credit markets, bailouts etc.) that are amplified by this crisis. When people say stocks average 7% gains over the long-run they refer to the S&P 500 which is an elite and dynamic subset of the market. Main street is not publicly traded.

This can be demonstrated when you compare the equal weight s&p vs. the s&p - the FANMAG stocks constitute over 20% of the S&P and are the reason why the equal weight index’s recovery has greatly lagged the weighted index.

While market cap to GDP is unsustainable - around 184% - there is no denying the secular shift of COVID that has benefited the large companies at the cost of the main street and will make that equation higher than years past.

[Benny Profane]

Like the Clinton dynasty and Haitian aide? Or the aptly named Clinton foundation. They should all be hung for grifting us in plain sight

Fuck, all they had to do is a speech and a shmooze for 250-500 grand. The foundation was P.R..

But this is real money. The present fraud and theft, combined with the future carpetbagging and picking through the bones is going to create massive, massive wealth , Russian oligarch level. And that will happen on both sides, although, of course, they're on the same side. And you aren't.

Never forget that Steve Munchin made major major money conducting foreclosure fraud. And he's the bookkeeper in all this.

[Stu Gotz]

Boeing raises $25 billion. Tells government to suck it. Baller move.

[JimmyCarter]

XOM first quarterly loss in over 3 decades

[Mazderati]

That's gonna leave a mark.

[Cono Este]

Ok, bring on the pain again. Let’s get back to reality.


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[Smoova]

Ok, bring on the pain again. Let’s get back to reality.


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Amen. I'm sitting here with some cash, feeling silly for holding off until the end of what looks like a bear rally.

[Timberridge]

Ah, the market timers. Good luck boys.

[Benny Profane]

Why not, nothing else to do.

Besides, did you actually think it was going much higher? I'm a schmoe, but, it's pretty obvious we're in severe bubble territory right now.

[Cono Este]

The Butchers bill is on its way.


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[bennymac]

looked, to my uneducated eye, that everything was basically back to November 2019 - January 2020 levels - did people think this was gonna turn into an even better bull market this spring?