MN-Investor
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Post by MN-Investor on Mar 19, 2020 10:58:00 GMT -5
Sounds good unless you're one of those folks relying on your ever dwindling IRA to pay current expenses. You may be selling stocks for a loss, but if that's your only source of revenue, that's what you do. Plus, there are many of us who aren't relying on our stock, but want to change which stocks we are invested it. Maybe I want to sell my oil & gas stocks and put that money into the stock of bio labs. That sounds like a reasonable response. I'd be pissed if the government forced me to hang on to my oil & gas stock.
Maybe I want to go out to eat or to a church service. I'm wondering if this whole economy should be locked down. Yesterday. Hundreds of thousands of low wage earners are going to be in dire straits very quickly. Think of everyone who works in a store or for a hotel or for a restaurant. Airlines, cruise lines. That's just a partial list. How are they going to pay their rent, pay their mortgages, put food on their tables? If they're lucky, they have investments to tap into, but I bet that's a small group of those most affected. This pandemic is going to be an economic disaster for so very many people around the world.
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Deleted
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Post by Deleted on Mar 19, 2020 11:12:55 GMT -5
The market was up nearly 400 when the president started his morning task force presser.
As he keeps talking, it's been continually dropping. It's down to 40 now...
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deminmaine
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Post by deminmaine on Mar 19, 2020 12:03:19 GMT -5
Maybe I want to go out to eat or to a church service. I'm wondering if this whole economy should be locked down. Yesterday. Hundreds of thousands of low wage earners are going to be in dire straits very quickly. Think of everyone who works in a store or for a hotel or for a restaurant. Airlines, cruise lines. That's just a partial list. How are they going to pay their rent, pay their mortgages, put food on their tables? If they're lucky, they have investments to tap into, but I bet that's a small group of those most affected. This pandemic is going to be an economic disaster for so very many people around the world.
OK, I'm talking through my butt, because I haven't thought this through, and don't even know if I would a agree with it. But, for arguments sake- Lock it down. Send 'em home. moratorium on rents, mortgages and other loans. List of essencial economic workers- food supply, transportation, utilities, grocery stores, bank drive thrus, gov't., health care, etc. 1000 dollar checks to everyone, now. From there, figure as we go.
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Deleted
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Post by Deleted on Mar 20, 2020 12:16:16 GMT -5
Once again today, the longer the stable genius talks the lower the market goes...
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movingforward
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Post by movingforward on Mar 20, 2020 13:05:13 GMT -5
I'm trying to decide if I should throw more money in the market today...hard for me to tell if I should do it or just wait. I'm clueless as to how low this thing will go...
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jerseygirl
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Post by jerseygirl on Mar 20, 2020 13:06:05 GMT -5
Once again today, the longer the stable genius talks the lower the market goes... Yep people are hearing reality during the press conf, drugs in clinical trials - not yet confirmed
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CCL
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Post by CCL on Mar 20, 2020 14:09:22 GMT -5
I'm trying to decide if I should throw more money in the market today...hard for me to tell if I should do it or just wait. I'm clueless as to how low this thing will go... Personally, I'm afraid of what the weekend will bring.
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busymom
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Post by busymom on Mar 20, 2020 19:31:21 GMT -5
This week has been another big "ouch". The Dow closed at -913. Which means the Dow is at 19,174. Personally, I don't have a lot of confidence that we've hit bottom yet, but that's JMHO.
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jerseygirl
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Post by jerseygirl on Mar 20, 2020 19:47:32 GMT -5
Also think there is lower in future as deaths increase and economy decreases
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CCL
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Post by CCL on Mar 20, 2020 20:56:39 GMT -5
I don't think we've hit bottom, either. It's tempting to just take all my money out. We've been thru plenty of ups and downs in the last 25 years, but I really never expected anything like this.
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Deleted
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Post by Deleted on Mar 21, 2020 11:24:14 GMT -5
My prediction is still a DOW below 10K. Hope not, but I don't see how a lot of businesses stay in business when their employees and customers are sheltered in place for months on end.
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Deleted
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Post by Deleted on Mar 22, 2020 17:11:37 GMT -5
5 Minutes of the orange genius talking and the futures market hits limit down. Oops. More winning....
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Tiny
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Post by Tiny on Mar 23, 2020 9:49:54 GMT -5
Did I hear correctly that the Fed is printing unlimited amounts of money ? Shit, is that going to cause inflation? Like really bad inflation? What happens when the economy doesn't come back as fast as everyone hoped? WTF is our government doing?
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Deleted
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Post by Deleted on Mar 23, 2020 9:51:41 GMT -5
Did I hear correctly that the Fed is printing unlimited amounts of money ? Shit, is that going to cause inflation? Like really bad inflation? What happens when the economy doesn't come back as fast as everyone hoped? WTF is our government doing? What gets me is all the corporate bailouts. Trump keeps talking about the cruise ship industry. NO ONE is freaking cruising but we will soon have millions of poor people who need to freaking eat. He's going to cause riots in LA and NY.
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busymom
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Post by busymom on Mar 23, 2020 18:11:05 GMT -5
Not a good day. -582. How soon will the Dow hit bottom, & start moving into positive territory again?
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CCL
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Post by CCL on Mar 23, 2020 20:41:53 GMT -5
At least it wasn't -2000. It could have been worse, so maybe that's a good sign?
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Deleted
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Post by Deleted on Mar 23, 2020 22:31:56 GMT -5
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MN-Investor
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Post by MN-Investor on Mar 23, 2020 22:34:59 GMT -5
Added bonus for the kids - they'll be inheriting our IRAs! (Such as they are right now.)
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Tiny
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Post by Tiny on Mar 24, 2020 8:13:23 GMT -5
Added bonus for the kids - they'll be inheriting our IRAs! (Such as they are right now.) It's why they'd be willing to die to 'save the economy' - so their hard earned money won't 'evaporate' and so their heirs will have something and not have to spend their lives "struggling" like their grandparents did (to accumulate the wealth). I will leave what the "struggle" might have actually entailed (as in they may have had to plunge a stuck toilet because their family could only afford a maid who came a few days a week versus one who came 6 days or 7 days a week). I don't know it might make getting rid of SS easier too (as fewer old people need it it can be phased out quicker).
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thyme4change
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Post by thyme4change on Mar 24, 2020 10:26:49 GMT -5
Did Cuomo sound like a raving idiot this morning, or am I being too harsh?
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Deleted
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Post by Deleted on Mar 24, 2020 10:39:00 GMT -5
Did Cuomo sound like a raving idiot this morning, or am I being too harsh? How so, I thought he made good points? He's talking about now needing 140,000 ICU beds. That's a shocking number. Damn...
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thyme4change
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Post by thyme4change on Mar 24, 2020 11:05:14 GMT -5
Did Cuomo sound like a raving idiot this morning, or am I being too harsh? How so, I thought he made good points? He's talking about now needing 140,000 ICU beds. That's a shocking number. Damn... I think I had him on during the worst of it. When he was saying he would put ventilators in his car and drive them to the next state. Weird. And he was "passionate".
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jerseygirl
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Post by jerseygirl on Mar 24, 2020 21:29:29 GMT -5
Nice uptick today on hopes Senate would vote on the Corona relief bill, give people cash hopefully helping people without work, money to insurance companies to pay restaurant interruption policies cause they’re all closed and need to pay their employees, other funding for small and large businesses in danger of failing and their employees losing their jobs and of course funding for hospitals br]But tonight it seems signing ain’t gonna happen tonight definitely and maybe not till end of week. Why not?? After deal between Dems and Repubs very near, Nancy Pelosi steps in with a whole list of demands Look at these and think how these will help enough to delay the bill to help US hospitals, economy and people
35 million for Kennedy center in D.C. Require airlines to detail carbon emissions for EACH flight Eliminate post office debt Fund retirement accounts for local newspaper employees Require union rep on corporate boards receiving funding Require companies report diversity of corporate boards Money for wind power Broadband help for low income households And more - can these be debated AFTER this bill???
Already agreed upon were no shares buyback Restrict bonuses for corporate officers
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oped
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Post by oped on Mar 24, 2020 21:36:50 GMT -5
I’m not sure how all of those are worded?
For instance on rural broadband... this is a related issue... a ton of school just shifted to distance... friends who have no access to high speed internet are struggling and those districts can’t require schooling since they can’t guarantee access...
I’m not sure about some of the others? I honestly haven’t read the whole thing yet.
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jerseygirl
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Post by jerseygirl on Mar 24, 2020 21:48:05 GMT -5
I’m not sure how all of those are worded? For instance on rural broadband... this is a related issue... a ton of school just shifted to distance... friends who have no access to high speed internet are struggling and those districts can’t require schooling since they can’t guarantee access... I’m not sure about some of the others? I honestly haven’t read the whole thing yet. Yes agree internet access would be helpful and needed and good addition. Others might be debated to be assets to the country but enough to delay the main rationale to help the country get through this crisis??
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busymom
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Post by busymom on Mar 24, 2020 22:04:40 GMT -5
Well, the Dow actually closed up today. +2,113. But, will it continue?
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jerseygirl
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Post by jerseygirl on Mar 24, 2020 22:18:54 GMT -5
Well, the Dow actually closed up today. +2,113. But, will it continue? Think tomorrow will be down. Today was a record since I think the 30’s predicated on Senate passing huge Covid 19 help bill today. But bill is stalled, NY is starting serious amounts of illness hospitalization and death I’m getting really frightened about increasing illness in NY NJ metro area
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lynnerself
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Post by lynnerself on Mar 24, 2020 22:42:38 GMT -5
I actually sold a little today. Even tho at a large loss, I wanted to up my cash position.
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jerseygirl
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Post by jerseygirl on Mar 24, 2020 22:56:15 GMT -5
I actually sold a little today. Even tho at a large loss, I wanted to up my cash position. I sold 20% will put cash back into equities in maybe a few months if as in China South Korea the deaths star to decrease
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resolution
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Post by resolution on Mar 25, 2020 8:46:05 GMT -5
Internet access is badly needed in my area as well. About half of the houses I have looked at I couldn't consider because there was no access to internet. I don't know how those families are handling school right now.
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