Bull Market officially over!! Year heading negative.

[zenkai]

when your every day trump cultist is regurgitation that it was a hoax, he may not specifically, directly called it a hoax, but the implication that was certainly there, it was a "hoax: unimportant, minor, none existent and his cult base picked it up

Nope, sorry but facts prove you wrong. Why would you donate part of his Salary to fight a hoax? Hate Trump if you want but at least hate him for reasons that isn't bullshit. Every functioning rational adult knows he was talking about how Democrats are criticizing him with his handling. Or are you going to try to convince me that Snopes is proTrump?

[Lenonis]

Nope, sorry but facts prove you wrong.

Did he or did he not continually minimize the impact of the virus and understate the danger for weeks until it got so bad he had to almost overnight switch to a super serious approach? True or false?

[Zan15]

Jobs.

The US has a difficult position right now, and you correctly cited the cause of this problem: employers squandered their free cash, and now, they're broke.

The airline industry seems to employ about 750,000 people not counting making airplanes or services like "taxis go to the airport" or related jobs like "I make airplane fuel". That's a lot. It's fifteen times as many as work in the coal mines, to put that in Trumpian terms.

Bailing out the airlines means we all split the cost of keeping those people employed.

Failing to bail them out means the owners get what they deserve, but the employees get fired and there's nobody willing to hire them.

You are suggesting tough love. I get that. There's no perfect answer here. I'm leaning heavily in favor of the bailout, paid now and repaid by the reversal of the tax cut for the rich or other actions (such as "hey, time for you guys to repatriate all that money Trump said you would, and hand it over").

Airlines have more than a great ability to raise capital right now. They don't need a bail out like auto and finance did in 2009. its bullshit.
Time to go to market for funding or maybe even issue that stock they used all their tax breaks buying back.
Fuck them, there are other industries and businesses in more trouble that did not already get billions.

After 9/11 they should have been forced, like banks, to have reserves..


https://www.cnbc.com/2020/03/17/coro...nions-say.html

No blank check for airlines seeking coronavirus aid after spending $39 billion on stock buybacks, unions say
Published Tue, Mar 17 2020

Key Points
U.S. airlines are seeking more than $50 billion in government aid as business collapses during the coronavirus outbreak.
Some lawmakers and labor unions say airlines have to protect workers and consumers in return.

The four biggest U.S. carriers — Delta, American, Southwest and United — have collectively spent about $39 billion over the last five years buying back shares, according to a tally from S&P Dow Jones Indices.

- - - Updated - - -

So wait..

virus is democrats new hoax...

Virus ended up being real.


Does that mean the old hoax of Trump being a Russia puppet and colluding with them is also true?

I mean if he's going to say its the same thing, I guess it kind of proves it.




- - - Updated - - -

Did he or did he not continually minimize the impact of the virus and understate the danger for weeks until it got so bad he had to almost overnight switch to a super serious approach? True or false?

but he didn't say the word...so that is more than enough for people to hold on too as an excuse...like they have had to rely on for years now, excuses.

[Low Hanging Fruit]

I wonder how much of the bail out will get dumped into buy backs to make stock holders happy while leaving employees still solidly fucked.

[Zaydin]

So in other words you don't know what you're talking about

https://www.snopes.com/fact-check/tr...-rally-remark/


What's True

During a Feb. 28, 2020, campaign rally in South Carolina, President Donald Trump likened the Democrats' criticism of his administration's response to the new coronavirus outbreak to their efforts to impeach him, saying "this is their new hoax." During the speech he also seemed to downplay the severity of the outbreak, comparing it to the common flu.
What's False

Despite creating some confusion with his remarks, Trump did not call the coronavirus itself a hoax.

I thought you conservatives called Snopes 'liberal biased propaganda and fake news'. Now it's trustworthy? Make up your minds.

[Stormspellz]

Nope, sorry but facts prove you wrong. Why would you donate part of his Salary to fight a hoax? Hate Trump if you want but at least hate him for reasons that isn't bullshit. Every functioning rational adult knows he was talking about how Democrats are criticizing him with his handling. Or are you going to try to convince me that Snopes is proTrump?

you should read the rest of the snope article not its cherry picked, and no i'm not wrong - there is video proof of his supporters calling it a hoax, nothing burger, ect

[zenkai]

Did he or did he not continually minimize the impact of the virus and understate the danger for weeks until it got so bad he had to almost overnight switch to a super serious approach? True or false?

I never said he didn't downplay the impact of the virus I am only pointing out he never claimed it was a hoax. Not sure why you couldn't figure that out.

- - - Updated - - -

I thought you conservatives called Snopes 'liberal biased propaganda and fake news'. Now it's trustworthy? Make up your minds.

Lets say I was a Republican and I believed Snopes was anti Trump, well it even further proves my point I was right. Not sure what you was trying to accomplish but your logic obviously failed.

- - - Updated - - -

you should read the rest of the snope article not its cherry picked, and no i'm not wrong - there is video proof of his supporters calling it a hoax, nothing burger, ect

Please point out the part in the full article that contradicts their own findings, then you should contact snopes to say they were wrong.

[Stormspellz]

I never said he didn't downplay the impact of the virus I am only pointing out he never claimed it was a hoax. Not sure why you couldn't figure that out.

it goes together, when you use the words "hoax" while continually down play every aspect of something - then you are indeed calling it a hoax. As many of his followers started to do. I know context and nuance is tough for Trump's base but I'm sure you can eventually get it.

edit: as the source, your source ruled it as "mixed" not "false" and explained what I just explained. And again you are having problems with context.

[zenkai]

it goes together, when you use the words "hoax" while continually down play every aspect of something - then you are indeed calling it a hoax. As many of his followers started to do. I know context and nuance is tough for Trump's base but I'm sure you can eventually get it.

edit: as the source, your source ruled it as "mixed" not "false" and explained what I just explained. And again you are having problems with context.

Read the article, it says mix because he did use the word hoax but to describe how Democrats are criticizing him, he never said the virus itself is a Hoax, seriously man it's not hard to understand. I noticed you couldn't prove me wrong so you tried to move the goalpost.

[Zan15]

it goes together, when you use the words "hoax" while continually down play every aspect of something - then you are indeed calling it a hoax. As many of his followers started to do. I know context and nuance is tough for Trump's base but I'm sure you can eventually get it.

edit: as the source, your source ruled it as "mixed" not "false" and explained what I just explained. And again you are having problems with context.

"what he meant to say" "what he means is"....only works if you are trying to save his ass from something he said....!!!!

[jeezusisacasual]

Airlines have more than a great ability to raise capital right now. They don't need a bail out like auto and finance did in 2009. its bullshit.
Time to go to market for funding or maybe even issue that stock they used all their tax breaks buying back.
Fuck them, there are other industries and businesses in more trouble that did not already get billions.

After 9/11 they should have been forced, like banks, to have reserves..


https://www.cnbc.com/2020/03/17/coro...nions-say.html

No blank check for airlines seeking coronavirus aid after spending $39 billion on stock buybacks, unions say
Published Tue, Mar 17 2020

Key Points
U.S. airlines are seeking more than $50 billion in government aid as business collapses during the coronavirus outbreak.
Some lawmakers and labor unions say airlines have to protect workers and consumers in return.

The four biggest U.S. carriers — Delta, American, Southwest and United — have collectively spent about $39 billion over the last five years buying back shares, according to a tally from S&P Dow Jones Indices.

- - - Updated - - -

So wait..

virus is democrats new hoax...

Virus ended up being real.


Does that mean the old hoax of Trump being a Russia puppet and colluding with them is also true?

I mean if he's going to say its the same thing, I guess it kind of proves it.




- - - Updated - - -



but he didn't say the word...so that is more than enough for people to hold on too as an excuse...like they have had to rely on for years now, excuses.

They can take on debt like other industries during times of slowdown. I have no respect for the airlines or any sector that pushed for heavy stock buybacks period, i would also like to see a repeal of rule 10b-18 which allowed the entire practice to begin with under a Republican influenced SEC. It should be considered Stock manipulation because its literally that which is another shit stain under Reagan. I would also like to see a tax on a per trade basis to avoid the EKG like presence that we have seen over the previous few weeks.

The previous generation that my parents have been apart of have destroyed the protections in place either by not voting or voting in complete pieces of shit that have looted the nation and infiltrated its agencies, all of our parents are at fault and they should be made to heel in all honesty.

- - - Updated - - -

This is from the Kramer article:



Well... that is a pretty safe prediction.

It kind of sidesteps the obvious objection: will this be in a week or two when the DOW is at 19000 or so, in 2 months or so when the DOW is at 11000, or will it be more like a year from now with the rally starting at 750? To be fair, I will definitely give him credit for being honest.

The story about the Bank of Japan (BOJ) is quite interesting as well. Am I interpreting it correctly that the BOJ has found a way to inject money into the economy in a very aggressive way?

Bank of Japan created the QE / QT cycles that we use today except that out of fear they never really sell the assets because to do so at those levels would cause the companies price value to plummet, its similar to a catch 22.

- - - Updated - - -

I consider it a good time to buy quality stocks at bargain price. I got my profit sharing check today. So I am keeping my eyes on Microsoft. As soon as it hits $130 per share, I am buying. My wife also received her profit sharing check today. She has her eyes on ESCO Technologies. It is a good company and she has a soft spot for it because her father was an ESCO board member. Those ESCO stocks that he gave us for our wedding is now worth 20 times what it was.

Depending on your investment strategy you could wait for 130$ a share or just understand that saving a penny could cost you a dollar.

- - - Updated - - -

Read the article, it says mix because he did use the word hoax but to describe how Democrats are criticizing him, he never said the virus itself is a Hoax, seriously man it's not hard to understand. I noticed you couldn't prove me wrong so you tried to move the goalpost.

I expect him to act like previous presidents in terms of decorum and respect given the situation at hand not to act like he has no damn clue what is going on, he is an " expert " business man to begin with or so he says. Bush showed better respect and that is saying something. I say this literally as a Republican.

[Low Hanging Fruit]

"what he meant to say" "what he means is"....only works if you are trying to save his ass from something he said....!!!!

That seems obvious to me as well. He should just accept he made a blind politically motivated comment like he usually does and move on. But we all know he is below that pretty easy thing to do.. so.. we will just have to hear the defenders chant about it.

[Zan15]

And 2009 inc! This is why I am still sitting out on this market. Won't even send the 10k "bet" money to my small business broker (worried he will go bankrupt)

First reports are coming in on weekly unemployment claims....Not good at all.

Ohio

Senator Rob Portman, and Ohio Republican, said on Tuesday that he received new data on Ohio's unemployment claims showing 45,000 claims this week compared to 6,500 last week, according to journalist Liz Skalka. That's a one-week increase of 592 percent.


Mass
https://www.wcvb.com/article/nearly-...cerns/31710623

On Monday alone, there were 19,884 new unemployment claims filed with the state, which exceeds the 17,382 new claims filed during the entire month of February.


NY

https://buffalonews.com/2020/03/17/s...-cant-keep-up/

CT

https://www.courant.com/business/hc-...enm-story.html

Connecticut unemployment claims reach 30,000 since Friday as coronavirus takes toll on state’s economy. About 10,000 claims were filed Monday and nearly 10,200 more came in Tuesday, bringing the number to 30,000 since Friday, said Steve Jensen, spokesman for the state Department of Labor. The typical number is 3,000 to 3,500 a week, he said,

CO

https://www.denverpost.com/2020/03/1...on-businesses/

There were about 6,800 “attempts to file” for unemployment insurance in the state as of 10 a.m. Tuesday, according to Cher Haavind, spokeswoman for the labor department. That followed 3,900 claims being filed on Monday. A week prior, on March 9, just 400 people filed, 1,600% fewer than did so Tuesday morning, according to state officials.

RI

https://www.msn.com/en-us/news/us/rh...us/ar-BB11gB6U

The state’s Department of Labor and Training saw unemployment claims jump from 10 on March 10 to 447 on March 13, and director Scott Jensen said he expects the number to continue to grow as restrictions are imposed on companies throughout the state.

TN
https://www.timesfreepress.com/news/...vid-19/518402/






General

https://slate.com/business/2020/03/c...-crashing.html
https://www.msn.com/en-us/finance/sm...es/ar-BB11kaHV
https://www.registerguard.com/news/2...nts-gatherings



Etc etc.

[Omega10]

And 2009 inc! This is why I am still sitting out on this market. Won't even send the 10k "bet" money to my small business broker (worried he will go bankrupt)

First reports are coming in on weekly unemployment claims....Not good at all.

General

https://slate.com/business/2020/03/c...-crashing.html
https://www.msn.com/en-us/finance/sm...es/ar-BB11kaHV
https://www.registerguard.com/news/2...nts-gatherings

Etc etc.

Ouch I read a few of the links, until it got too depressing. It's a lot worse than I thought.

[alexw]

Ouch I read a few of the links, until it got too depressing. It's a lot worse than I thought.

That's just the start. This will be far worse than 2008.

2008 was a monetary phenomenon which could be mitigated by federal action.

If an airline cannot transport passangers for the next six months due to covid-19, no matter what action the government takes that airline still isn't going to be transporting passangers.

Ditto for taxi cab firms, gyms, hotels, and oh so much else in our service orientated economies.

[Masark]

Can I ask a real question?

Why is it that individuals are expected to save 3 months expenses + an emergency fund to survive loss of income but giant businesses can’t seem to survive this without billions from the government?

[Breccia]

First reports are coming in on weekly unemployment claims....Not good at all.

Hmm. Does this have anything to do with Trump extending unemployment benefits?

I mean, I think it makes sense, but, it sure sounds like welfare to me.

[Zan15]

Hmm. Does this have anything to do with Trump extending unemployment benefits?

I mean, I think it makes sense, but, it sure sounds like welfare to me.

No since weekly unemployment totals are from last week not this week....most of its probably before that

[GreenJesus]

Can I ask a real question?

Why is it that individuals are expected to save 3 months expenses + an emergency fund to survive loss of income but giant businesses can’t seem to survive this without billions from the government?

I saw this tweet last night. It is about as real as it gets. Airline industry needs a bailout? lol.. Sorry. You lost bailout privileges when you made my legroom less and started charging me for my bags when we used to not have to pay for bags. Also did you notice how all of a sudden there isn't enough room on board for luggage anymore? Airlines can suck a dick with all the stock buybacks they did.

[Zan15]

5 min ago

Treasury Secretary warns US could see 20% unemployment rate due to coronavirus, source says

From CNN's Jeremy Diamond

Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN.
Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario.
In the same meeting, Mnuchin also said he is concerned the economic ramifications of the coronavirus pandemic could be worse than the 2008 financial crisis, the source said.
Mnuchin's comments, which were first reported by Bloomberg News, come amid a rising sense of urgency at the White House and on Capitol Hill to confront the increasingly serious threat of the coronavirus pandemic — on both the public health and economic fronts.



Guess those records trump spoke about might not end just yet....unfortunately as its been happening now for 3 weeks they would be "bad" records