Is the stock market going to tank?

**Toadman** · 03-20-2020, 09:28 AM

Most transparent admin. EVER!

**TBS** · 03-20-2020, 09:34 AM

Originally Posted by Benny Profane

That's funny. Like they can tell the states to do that. I'd like to hear the mafia boss phone call threats to various governors.

“Good AM Mr. President. You want me to keep a lid on disclosing unemployment claims? Send me six months of PPE for our health workers then we can talk. Art Of The Deal Baby!”

**Ted Striker** · 03-20-2020, 09:35 AM

Originally Posted by Mazderati

@Lee Thanks for sharing that info.

I'm surprised today's markets are a) up and b) not making more dramatic moves.

Yeah, thanks Lee.

Was thinking the same. Eerily quiet all things considered.

Originally Posted by Toadman

I hope Burr gets his feet put to the fire. Same for Loeffler.

It's always disgusting, but it's really disgusting when profiteering from a national emergency where the citizens they are supposedly working for are dying.

**4matic** · 03-20-2020, 09:41 AM

2400 still acting as an expiry pivot. I can't imagine how much derivative pressure is built up.

**4matic** · 03-20-2020, 09:42 AM

What Burr did is not illegal or an ethics violation in current law. They might put a nasty letter in his permanent record.

**Toadman** · 03-20-2020, 09:47 AM

I'm no expert, but this doesn't sound too good.

Goldman Sachs is now projecting a massive U.S. economic contraction in the second quarter of the year, Barrons reports.

“The bank is forecasting a 24% decline in economic activity next quarter, compared to their previous forecast for a 5% decline. That’s because U.S. economic data (specifically manufacturing data) have already started to miss economist estimates, even before Americans started to stay home to avoid spreading the coronavirus.”

“If Goldman’s economists are right, that means the U.S. is approaching the sharpest single-quarter decline in gross domestic product since the U.S. started measuring GDP in its current form.”

**LeeLau** · 03-20-2020, 09:48 AM

Originally Posted by the artist formerly known as brostoyevski

The only problem with dumpster diving right now is that we're in an early phase of simultaneous global currency, sovereign debt, corporate debt, supply chain, labor market, political and public health crises. The Gyna virus thingy is getting nearly all the attention, but the mismanagement.....

Total agreement. Looking to dumpster dive over 6 month time frame with knowledge that I will encounter lots of ass pain. My assumption is the society/economy will adjust to a new norm and that certain habits will change but some will remain substantially similar albeit with decreased amplitude.

I'll keep plugging in ideas. But appreciate thoughts as frankly this is a terrifying exercise

**Benny Profane** · 03-20-2020, 09:58 AM

Originally Posted by 4matic

What Burr did is not illegal or an ethics violation in current law. They might put a nasty letter in his permanent record.

Yup. Thanks Obama. Seriously . He could have shamed Congress into signing a much tougher law. But, he didn't, and now he has a 12 million second home on Martha's .

**Ted Striker** · 03-20-2020, 10:11 AM

Originally Posted by LeeLau

frankly this is a terrifying exercise

No guts, no glory!

**4matic** · 03-20-2020, 10:15 AM

Originally Posted by Benny Profane

Yup. Thanks Obama. Seriously . He could have shamed Congress into signing a much tougher law. But, he didn't, and now he has a 12 million second home on Martha's .

Go watch Tucker.

**Meathelmet** · 03-20-2020, 10:21 AM

Originally Posted by Toadman

I'm no expert, but this doesn't sound too good.

“If Goldman’s economists are right, that means the U.S. is approaching the sharpest single-quarter decline in gross domestic product since the U.S. started measuring GDP in its current form.”[/I]

Damn.

S&P were equally grim in some of their predictions..

**Benny Profane** · 03-20-2020, 10:33 AM

Originally Posted by 4matic

Go watch Tucker.

And you can watch reruns of Cramer.

**Benny Profane** · 03-20-2020, 10:34 AM

Trump tanks the market 300 points. Confidence.

**dunfree** · 03-20-2020, 10:35 AM

Originally Posted by the artist formerly known as brostoyevski

The only problem with dumpster diving right now is that we're in an early phase of simultaneous global currency, sovereign debt, corporate debt, supply chain, labor market, political and public health crises. The Gyna virus thingy is getting nearly all the attention, but the mismanagement of all the aforementioned critical systems to the point where exogenous shocks trigger auto-catalytic doom loops will not go away when the public health situation improves. The boats in all these systems were loaded and are not tipping - they have tipped and are sinking. Systemic volatility, actively suppressed since the Greenspan 80s, is now in a positive-reinforcing situation where each shock provokes further shocks in related systems. It's a social-economic-financial-political failure, far beyond a 'mild recession' or anything resembling normal economic cycles. Mayyybe the Fed put works one more time and we pretend like we're geniuses for another bull run, but the skew seems down.

The lesson for me now is to gtfo the way of this freight train. Cash, AAA bonds, gold, BTC - only things with the best counter-parties or that you can secure physical possession of. Maybe equity in beaten up but healthy growth-oriented equities, but value shopping early in the unwind seems premature.

Things are teetering right now and the potential outcomes very wildly. Without help now (well, last week) to prop up demand there’s gonna be a small business blood bath especially in the city’s where they were already stretched. The arts & culture have huge budget holes. Everything that makes a city a city, poof.

something will come in and replace some of that. What? No idea.

TG · 03-20-2020, 10:35 AM

Originally Posted by Toadman

I hope Burr gets his feet put to the fire. Same for Loeffler.

https://twitter.com/Santucci?ref_src...rd-burr-3.html

I think Burr is a distraction, it’s why someone like Tucker Carlson is going after him so hard. Given his position and the briefings he received, there’s no way that those above didn’t get the same info. As if only he knew those early dire predictions and kept it all to himself!

They’re throwing him under the bus to distract from the fact that Trump himself was issuing “no big deal” statements to the country at the time Burr was briefing rich tar heel club members about how serious it was about to become

**jackstraw** · 03-20-2020, 10:40 AM

Originally Posted by dunfree

Things are teetering right now and the potential outcomes very wildly. Without help now (well, last week) to prop up demand there’s gonna be a small business blood bath especially in the city’s where they were already stretched. The arts & culture have huge budget holes. Everything that makes a city a city, poof.

something will come in and replace some of that. What? No idea.

The sad truth.

**4matic** · 03-20-2020, 10:58 AM

Derivatives pressure controlling today’s trade.

**Harvey44** · 03-20-2020, 11:21 AM

Originally Posted by Mazderati

@Lee Thanks for sharing that info.

I'm surprised today's markets are a) up and b) not making more dramatic moves.

100 point loss is oddly reassuring.

**sirbumpsalot** · 03-20-2020, 11:27 AM

Originally Posted by TG

I think Burr is a distraction, it’s why someone like Tucker Carlson is going after him so hard. Given his position and the briefings he received, there’s no way that those above didn’t get the same info. As if only he knew those early dire predictions and kept it all to himself!

They’re throwing him under the bus to distract from the fact that Trump himself was issuing “no big deal” statements to the country at the time Burr was briefing rich tar heel club members about how serious it was about to become

Look who was the worst offender selling $6M in stock:

https://www.dailymail.co.uk/news/art...cial-club.html

**TBS** · 03-20-2020, 11:30 AM

Majority of those polled think Trump is doing a good job with Covid outbreak
https://www.politico.com/news/2020/0...agement-138570

Guess everybody has ADD now, can't remember shit from more than a day ago

**Toadman** · 03-20-2020, 11:31 AM

Originally Posted by sirbumpsalot

Look who was the worst offender selling $6M in stock:

https://www.dailymail.co.uk/news/art...cial-club.html

That b!tch! Lock her up!

**liv2ski** · 03-20-2020, 11:46 AM

Originally Posted by Toadman

That b!tch! Lock her up!

That CA voters continue to re-elect her has always blown my mind. I guess the competition for Senator sucks donkey dicks

**MultiVerse** · 03-20-2020, 11:54 AM

Originally Posted by TBS

Majority of those polled think Trump is doing a good job with Covid outbreak
https://www.politico.com/news/2020/0...agement-138570

Guess everybody has ADD now, can't remember shit from more than a day ago

This was my prediction at the beginning of March:

"The number of unforced errors is appalling. Things here could (will likely) get much worse than a lot of people realize, largely due to the incompetence of our government. The toll won’t be as bad as the simple exponential extrapolations suggest, but that’s only because we'll at some point be forced to take some pretty strong measures to isolate people.

But for anyone thinking such a scenario spells the current administration's demise at the ballot box: many Americans won't ever know how much more effective other governments were with their response, Americans rarely care about foreign governments anyway, and politicians will take credit for the strong measures rather than acknowledging those measures wouldn't have been necessary had they responded sooner. "

**Danno** · 03-20-2020, 12:01 PM

Originally Posted by sirbumpsalot

Look who was the worst offender selling $6M in stock:

https://www.dailymail.co.uk/news/art...cial-club.html

Feinstein has said her assets are in a blind trust, and I believe Loeffler and Inhofe have also stated that they do not control their investments (but I have not seen the word "blind trust"). So let's hold off on crucifying them all just yet, because an investment adviser could have independently seen the writing on the wall and executed these trades.

As was said upthread, they are a distraction from the real issues.

**Toadman** · 03-20-2020, 12:09 PM

Well, I just learned something new. Loeffler's husband is head of the NYSE. It's all just a coincidence....

Loeffler, meanwhile, denied that she did anything wrong, claiming that it was “absolutely false” she engaged in violating the STOCK Act, which prevents lawmakers from trading on inside information.

“If you actually look at the personal transaction reports that were filed, it notices at the bottom I’m only informed after by transactions after they occurred, several weeks,” she added. “Those transactions, on my behalf at least, were a mix of buys and sells. Very routine for my portfolio.”

Henry, however, didn’t appear to buy what the senator was attempting to sell, noting that while her sales were before the stock market began its decline, her advisors also purchased shares in a teleconference company just before the time when more workers would soon need work-from-home technology.

“Who are these third-party advisors?” Henry pressed. “They seem to have a pretty good idea about where the market was headed.”

The Republican senator once again claimed ignorance, placing all the responsibility on her financial advisors while asserting she is “not involved in the decisions around buying and selling.”

After Loeffler boasted about her lengthy career in the financial services industry as a way to assure Fox viewers she would have complied with ethics rules, Henry pointed out that her husband is CEO of the New York Stock Exchange.