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Jimzz

Diamond Member
Oct 23, 2012
4,399
190
106
Is Trump going to scold Wall Street now?

Is he going to call Tim Street and set him straight?


No hes going to get Barr to investigate one of Bidens kids and also get the senate to hold never ending hearings.
 

hal2kilo

Lifer
Feb 24, 2009
24,217
10,875
136
Even Bitcoin crashed in value today. Kinda makes sense... if this is the beginning of the zombie apocalypse, a currency that requires Internet access to use isn't very practical.
Heck, gold's even going down. Just saw my first BUY SILVER! ad on the boob tube.
 

ponyo

Lifer
Feb 14, 2002
19,688
2,810
126
Heck, gold's even going down.
They're selling anything of value trying to raise money. Think of it as gigantic margin call. So many hedge funds and Wall St firms were leveraged like 10 to 1 going in this sudden downturn. Leveraged firms and individuals are blowing up and their dead corpses are being dragged out.
 

Jhhnn

IN MEMORIAM
Nov 11, 1999
62,365
14,681
136
News now saying $1.5T injection planned. Since it didn't work, can the Fed just drop the whole thing now?

They're trying to save the banks, not the markets. They're the biggest players in the repo market.They don't have the cash to cover their obligations to pay and everybody wants to get paid & hoard the money.
 

woolfe9998

Lifer
Apr 8, 2013
16,189
14,114
136
There is nothing indicating that the freefall will stop until our curve flattens as Paratus mentioned. Until then, every day is going to be worse than the previous day. Revenue for every company that isn't somehow related to fighting the pandemic is going to continue to drop like a stone.

Not quite true. I just read that Costco is making huge profits because there are runs on bulk goods. Also, you'd think Amazon would do well on fundamentals given that they are the best way to buy stuff without leaving the house.

Still, your main point is correct. The economy is cratering.
 
Reactions: dank69

woolfe9998

Lifer
Apr 8, 2013
16,189
14,114
136
I was in Vegas for work in the spring of 2009 and man was it creepy how empty it was. Going to be worse this time.

I think it's everywhere. Where I live (CA bay area) there is very little traffic anymore. No commute. You can drive on the main freeway at 5:30 p.m. and it may as well be 10:00 p.m. How many people are working at home versus not working I do not know, but this is getting kind of creepy.
 

VRAMdemon

Diamond Member
Aug 16, 2012
7,017
8,544
136
I wonder what my Trump cultist supporting in laws excuse for supporting him will be now. Previously it was some version of "Yeah, but my 401K". The markets have now wiped out over 80% of the gains under Trump making him vastly inferior to their 401ks than Obama.

A pandemic that's killing old people and destroying his nest-egg may be just the nudge my uncle needs to get off the Trump train. Heck, he told me yesterday they were thinking about cancelling their church services. That never happened under Obama!

You gotta give the Chump credit for one thing, though - he has managed to reduce wealth inequality more than anyone.
 

zinfamous

No Lifer
Jul 12, 2006
111,131
30,082
146
Even Bitcoin crashed in value today. Kinda makes sense... if this is the beginning of the zombie apocalypse, a currency that requires Internet access to use isn't very practical.

hey, coolcoin value still holding strong through, right?
 

Bitek

Lifer
Aug 2, 2001
10,676
5,238
136
They're trying to save the banks, not the markets. They're the biggest players in the repo market.They don't have the cash to cover their obligations to pay and everybody wants to get paid & hoard the money.

I'm hording cash to buy stocks cheap.

Bounce back will come, esp if Trump gets CV and gets locked away and let's adults run the response.

Unfortunately those won't be available until President Biden is sworn in, or if he gives it to pence as well..
 

zinfamous

No Lifer
Jul 12, 2006
111,131
30,082
146
A pandemic that's killing old people and destroying his nest-egg may be just the nudge my uncle needs to get off the Trump train. Heck, he told me yesterday they were thinking about cancelling their church services. That never happened under Obama!

wow...so it sounds like Trump is actually taking away their religion? lol--I thought that's what Democrats were always trying to do?
 
Reactions: Meghan54

dank69

Lifer
Oct 6, 2009
36,117
30,506
136
I wonder what my Trump cultist supporting in laws excuse for supporting him will be now. Previously it was some version of "Yeah, but my 401K". The markets have now wiped out over 80% of the gains under Trump making him vastly inferior to their 401ks than Obama.

A pandemic that's killing old people and destroying his nest-egg may be just the nudge my uncle needs to get off the Trump train. Heck, he told me yesterday they were thinking about cancelling their church services. That never happened under Obama!

You gotta give the Chump credit for one thing, though - he has managed to reduce wealth inequality more than anyone.
Act of God, nothing anyone could have done. If Obama was still president we'd be eating each other by now. Trump's response has been perfect. Some say the greatest response in all of history. Plus the virus is a liberal hoax.
 

Bitek

Lifer
Aug 2, 2001
10,676
5,238
136
I wonder what my Trump cultist supporting in laws excuse for supporting him will be now. Previously it was some version of "Yeah, but my 401K". The markets have now wiped out over 80% of the gains under Trump making him vastly inferior to their 401ks than Obama.

A pandemic that's killing old people and destroying his nest-egg may be just the nudge my uncle needs to get off the Trump train. Heck, he told me yesterday they were thinking about cancelling their church services. That never happened under Obama!

You gotta give the Chump credit for one thing, though - he has managed to reduce wealth inequality more than anyone.

A number of Trumpers in my family have bailed.

One even texted "Go Biden"

Pissed about the response and him only seeming to care about rich people and the stock market.

Let's be real about this too.
There will be waves of this. Pandemic likely to come back late on year as winter sets again (and election day arrives.)
 
Reactions: zinfamous

ultimatebob

Lifer
Jul 1, 2001
25,134
2,446
126
hey, coolcoin value still holding strong through, right?

Hey now... Coolcoin is worthless... er... priceless no matter what the economic conditions are! It will continue to hold at the steady exchange rate of 1,000 Coolcoin for a Space Kitty T-Shirt for as long as I'm alive! *

* If I die of coronavirus, though, you're all pretty much screwed. I don't think that my wife knows the password to my crypto wallet. Sorry about that.
 
Jan 25, 2011
16,694
8,897
146
Today was a new one for me. Today was a day of people taking everything they could out of retirement savings to panic cover margin calls to avoid sellouts. In most cases we give them a little time. A few days. A week. Not now. We are selling people out fast as they pop up in most cases.
 

hal2kilo

Lifer
Feb 24, 2009
24,217
10,875
136
Today was a new one for me. Today was a day of people taking everything they could out of retirement savings to panic cover margin calls to avoid sellouts. In most cases we give them a little time. A few days. A week. Not now. We are selling people out fast as they pop up in most cases.
Well, I've lost a lot of money, but Trump trade policies scared me. I got lots of dry powder.
 

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
126
Today was a new one for me. Today was a day of people taking everything they could out of retirement savings to panic cover margin calls to avoid sellouts. In most cases we give them a little time. A few days. A week. Not now. We are selling people out fast as they pop up in most cases.

if they die, they die.
 

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
126
one of my films halted reshoots so no work on that one till they come back. Luckily has like 3 films piled up but I wont be hiring someone to help me now.
 
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