Is the stock market going to tank?

[dunfree]

SNAP fraud is less than 1% and I suspect fraudulent cash swaps get spent anyway.

So just give it as cash.

[Name Redacted]

So is this what they mean by "Trickle Down Economics"?

[LeeLau]

There are now no more borrows on the China coffee stock scam LK.

Am deep underwater on my starter position on mREIT IVR. Am going to roll some dice on Fed bailout of poor mark-to-market CMBS and RMBS collateral holders as IVR's portfolio is 70% agency MBS which the Fed is buying on the open market

IVR's price/book is 0.12. If they liquidate the book should be cut approx in half. If the fed throws more money at the problem then the book value rises. Anyhow who the hell knows what the book really looks like so meanwhile I'll take the CCL and LK profits and throw it at the munifence of the Fed

[SKIP IN7RO]

How ironic is it that what started as a conservative administration with republicans running the senate, house, and white house, will ultimately end up with some of the most socialist actions ever enacted by the US government?

Psych majors have been handed an interesting project for their theses.

[Benny Profane]

So is this what they mean by "Trickle Down Economics"?

No, pretty much the opposite.

[altacoup]

Was thinking of paying my mortgage down considerably. Maybe I should just wait for it to be absolved? Go out and buy a sweet new camper for the truck too?

[TAFKALVS]

Was thinking of paying my mortgage down considerably. Maybe I should just wait for it to be absolved? Go out and buy a sweet new camper for the truck too?

I'll do an overland build for you, bring it on down

[rod9301]

So, the federal government buys the notes for market value and then forgives the notes? That would be constitutional, but bizarrely expensive and likely politically impossible. Those of us who worked our asses off to get debt free by age ____ would be pretty fucking pissed off paying for debt relief for Bunny's condo or a mag dentist's $80K Audi. Fuck that. Just write checks to poor and unemployed working class people, fer chrissake.

Yeah, even writing 1200 checks to everyone didn't make sense. Most people don't need it, just give it to the ones that lost their jobs, and a few months at that.

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[Kevo]

My boss sent me this last night- https://michael-hudson.com/2020/03/u...onomic-crisis/

It's a short read. TLDR- we are going to have defaults on bonds en masse. If we aren't careful about how we handle it the solvency of our currency is at risk.

[rideit]

Yeah, even writing 1200 checks to everyone didn't make sense. Most people don't need it, just give it to the ones that lost their jobs, and a few months at that.

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Isn’t the Canadian model to give $2k per month for four months to those that lost their jobs?

[LeeLau]

There are now no more borrows on the China coffee stock scam LK.

Am deep underwater on my starter position on mREIT IVR. Am going to roll some dice on Fed bailout of poor mark-to-market CMBS and RMBS collateral holders as IVR's portfolio is 70% agency MBS which the Fed is buying on the open market

IVR's price/book is 0.12. If they liquidate the book should be cut approx in half. If the fed throws more money at the problem then the book value rises. Anyhow who the hell knows what the book really looks like so meanwhile I'll take the CCL and LK profits and throw it at the munifence of the Fed

I know I'm talking to myself here but it's fun in a bizarro way to learn about mREITs

My calculations are off because I have to factor in the bank lenders to IVR not marking to market Agency and non-agency MBS. That's pretty much a foregone conclusion that everything will be called but MAYBE the agency MBS will get more weight because of an implied fed backstop

Anyhow if the collateral is marked down more than 30% then commons and prefs will get wiped out. So I'm really buying a call option without time limit on the entire biz. Hell why not? All on red!

[Cono Este]

My boss sent me this last night- https://michael-hudson.com/2020/03/u...onomic-crisis/

It's a short read. TLDR- we are going to have defaults on bonds en masse. If we aren't careful about how we handle it the solvency of our currency is at risk.

Good read.

Shit has to come home to roost sooner or later.


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[liv2ski]

Good read.

Shit has to come home to roost sooner or later.


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You would think so, but the FED made a monkey out of me between 2008 and 2014 as I preached the coming implosion that never happened. They will need to go "All In" this time around to save the markets, so next time around, this house of cards should blow ski fucking high.

[Toadman]

There are now no more borrows on the China coffee stock scam LK.

Am deep underwater on my starter position on mREIT IVR. Am going to roll some dice on Fed bailout of poor mark-to-market CMBS and RMBS collateral holders as IVR's portfolio is 70% agency MBS which the Fed is buying on the open market

IVR's price/book is 0.12. If they liquidate the book should be cut approx in half. If the fed throws more money at the problem then the book value rises. Anyhow who the hell knows what the book really looks like so meanwhile I'll take the CCL and LK profits and throw it at the munifence of the Fed

Looks pretty ugly for REIT's these days. Sounds like they are begging for a Trump bailout.

https://finance.yahoo.com/news/50-bi...171258496.html

[LHutz Esq]

Isn’t the Canadian model to give $2k per month for four months to those that lost their jobs?

Basically. But also:
Businesses that lose revenue are also to get 75% of their payroll (to a max of 875/wk/employee) for every employee they can keep on.
Work share program (if the employees agree to work less govt will pay part of lost salary)
Interest free loan up to 40000 to small businesses
Child credit bumped
No income tax payment till August
No student loan payments
And the provinces have their own bits as well


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[iceman]

Sounds way too civilized.

[Mazderati]

First bank is down.

https://www.marketwatch.com/story/fd...?mod=home-page

[liv2ski]

It was failing last year

[LeeLau]

Basically. But also:
Businesses that lose revenue are also to get 75% of their payroll (to a max of 875/wk/employee) for every employee they can keep on.
Work share program (if the employees agree to work less govt will pay part of lost salary)
Interest free loan up to 40000 to small businesses
Child credit bumped
No income tax payment till August
No student loan payments
And the provinces have their own bits as well


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Yeah but nothing for the hedge funds and.dividend yield investors Canada???? Booo

[Mazderati]

I know I'm talking to myself here but it's fun in a bizarro way to learn about mREITs

We're reading. Keep it coming.

[bennymac]

Agreed. I’m learning a new language via this thread.

[Cono Este]

You would think so, but the FED made a monkey out of me between 2008 and 2014 as I preached the coming implosion that never happened. They will need to go "All In" this time around to save the markets, so next time around, this house of cards should blow ski fucking high.

I’ll go to my grave before I accept that people can keep living this fairy tail life of no money down mortgages. I absolutely hate the notion that as long as some sucker keeps buying, we all feel richer at the end of the month when our statements arrive. It’s so fake. In the interest of the charitable foundations, hospitals etc I hope I’m wrong, but I think the stock market is biggest con job in American history. People exchanging a lifetime of work for a stack of paper. Being sold shit they don’t even understand.



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[bennymac]

I’ll go to my grave before I accept that people can keep living this fairy tail life of no money down mortgages. I absolutely hate the notion that as long as some sucker keeps buying, we all feel richer at the end of the month when our statements arrive. It’s so fake. In the interest of the charitable foundations, hospitals etc I hope I’m wrong, but I think the stock market is biggest con job in American history. People exchanging a lifetime of work for a stack of paper. Being sold shit they don’t even understand.



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I thought you were planning on going back to being a stock broker or something?

[Cono Este]

I thought you were planning on going back to being a stock broker or something?

No, I was just a dumb floor trader.


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[4matic]

I know I'm talking to myself here but it's fun in a bizarro way to learn about mREITs

I enjoy the chatter. Thanks.