Miscellaneous And Off Topic Subjects

[Dr. Strangelove]

S&P just hit its 7% circuit breaker trading halt too. Woof. Hell of a few weeks we're having

[Ghengis Jon]

I was going to comment using a roller coaster analogy. Changed my mind - it's more like the Demon Drop.

[iam416]

Until there's at least some certainty or parameters on the Wuhan Virus, the markets will continue to mostly tumble. The upside, I guess, is that drops are well-beyond any sort of supply interruption concerns and well into sheer panic. So, once the issue becomes more known the markets should, hopefully, recoup those losses in relatively short order. I'd assume they still need to account for the economic impacts -- that is to say, I doubt they pop back up to 30,000, but I'd think they should get back to 26 or 27 pretty quickly if/when we reach some sort of "comfort" level with where we are.

[Jeff Buchanan]

Well, chaos.

The Trump administration will get the blame for precipitating the global market's meltdown that is occurring today by poorly thought out containment measures (the European travel ban as it was announced last night was idiotic), publicly blaming China for the spread of the disease and the appearance that his administration purposefully delayed the deployment of testing to reduce the official count of COVID-19 cases in the US.

It goes without saying, Trump is done. His administration's handing of the COVID-19 circumstance, it's contradictory and often confusing policy positions, is a clear indication of his personal failure as US president in the face of a crisis. Moreover, the world and the US is paying the price for Trump's penchant to assemble a cadre of government officials in key positions who are yes men and will obediently carry out his ill-informed public health directions.

If a global economic recovery - defined as a return to pre-virus global economic activity and sustained growth around 2.5% occurs in a reasonably short time frame - and I'd say that's going to be 8-12 months from the virus can be reliably identified as dieing out (declining numbers of new cases world-wide), things should return to a pre-virus baseline life for most of us. However, there is a risk, and it is not a small one, IMO, that business activity and consumer spending will not jump back quickly and an extended period of economic contraction will occur.

I don't think anyone knows right now where this thing is headed. Certainly, Trump is complicit in creating the global chaos and fear that is rising. Here in the US, where it appears that the Ds have boxed out Sanders and his crazy-ass socialist platform as their nominee, Trump will get appropriately booted by the voters. The silver lining in all of this.

[iam416]

The Trump administration will get the blame for precipitating the global market's meltdown

LOL. As if today's drop is somehow distinct from the overall plummet. C'mon, dude.

[Jeff Buchanan]

Perhaps ...... I think his actions - those of his administration - accelerated the plummet.

You and I both know markets are driven by sentiment. The sentiment last night, after Trump's speech, was strongly negative. If, the US plan to deal with this country's COVID-19 had been correctly worded, rational and sparked confidence. We could have seen a jump today. But no. Reactions globally were strongly negative. The net result is what we've seen in the last 12h.

[iam416]

Yeah. We disagree. STRONGLY. I mean, VERY STRONGLY.

But, whatever.

[froot loops]

There was a distinct drop in the futures trading after that speech. But that may because there was hope the speech may have contained something more productive in the way of plans. Once it didn't it may have dropped to where it was going to be.

The house Democratic plan is a start in the right direction, hopefully it isn't a non starter for the Senate. Time is of the essence fighting this, fiscal stimulus is fine but has to take a backseat to fighting it medically.

[iam416]

PDJT's speech causes B10 and others to cancel tournaments. PDJT's speech will likely cause cancellation of NCAA Tournament.

[Whitley]

There was a distinct drop in the futures trading after that speech. But that may because there was hope the speech may have contained something more productive in the way of plans. Once it didn't it may have dropped to where it was going to be.

The house Democratic plan is a start in the right direction, hopefully it isn't a non starter for the Senate. Time is of the essence fighting this, fiscal stimulus is fine but has to take a backseat to fighting it medically.

Are you talking about 2 weeks emergency paid sick leave? If so, Sen Lamar Alexander has spiked it already. He was saying it is not the feds place to pay for it, but he thought it was a good idea.

[iam416]

fiscal stimulus is fine but has to take a backseat to fighting it medically.

Yeah, this isn't a financial crisis. The financial crisis is a medical crisis. Until the medical crisis is resolved or more fully known, then there's almost nothing to do financially. The only financial things are remedial at best.

[Dr. Strangelove]

Brazil's press secretary was at Mar a Lago last Saturday for hours with the Brazilian delegation. He tested positive today. They're testing the Brazilian President now too.

Dude was at dinner in the same room as Trump, posed for a picture with him, was at Kimberly Guilfoyle's birthday party and around Trump's kids, yeesh

https://www.axios.com/brazil-bolsonaro-coronavirus-trump-meeting-mar-a-lago-bed77ec8-f768-4d8d-a6b0-ae463361e558.html

[Dr. Strangelove]

JEROME POWELL TO THE RESCUE!!

https://www.cnbc.com/2020/03/12/fed-to-pump-more-than-500-billion-into-short-term-bank-funding-expand-types-of-security-purchases.html

[CGVT]

Screenshot 2020-03-12 at 12.10.40 PM.png

[Ghengis Jon]

Pandemic knocking on the US's door.....I know!....give half a trillion dollars to the banks!

I hope they're diverting money from the Vanity Wall. To fight the virus, not for more free money for banks.