Bull Market officially over!! Year heading negative.

[Zan15]

Disney's flagship California theme park is being closed due to the coronavirus outbreak

snow ball just became a blizzard...nor'easter...

[Fugus]

Also, E3 has been cancelled as well.

[Zan15]

In local News, Chilean Lollapalooza was canned today, more festivals to follow suit.
And por Lindsey Graham, i hope that the poor bastard recovers, just for him to see that the boat that is this administration sinks in flames

they just shut down 4 school systems today here on the boarder with another state. we have just a handful but the other state has a shit ton.

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This is exactly what happened in 2008-2009.

as soon as everyone started you could not stop the layoffs.

now we have cancelations and closures and the need to look like you are a "caring corporation" they now all have to start doing the same thing.


Senate better get off their ass and make these temporary unemployment and sick time rules before the end of the day tomorrow or we can see another 2k drop

[Zaydin]

I know it's not what our resident Trump supporters want to hear, but you can 100% blame todays crash on Trump and the disastrous address he made last night.

One of the most important duties a president has is trying to keep the nation calm in a time of crisis and Trump completely fucked it up yet again.

[Breccia]

Remember that yesterday we were talking about a bear that was on the living room while 2 others were waiting on the door outside? Now all 3 are mauling us in the kitchen

Someone's been sleeping in my bed! There she is! (Sounds of young child being mauled and devoured)

Okay, so...21,200 is Jun 2, 2017. That roller coaster just lost Trump another month.

[Omega10]

TFW you think you're being facetious...

I was not being facetious. I don't think he was either.

The problem seems to be (ok one of the problems) that as the FAA does more thorough testing, they are finding things that did not get noticed before.

Kind of like the number of coronavirus cases in the US is likely underestimated due to the lack of testing.

Don't test for coronavirus: it spreads faster and quicker and does a lot more damage.
Don't test airplanes: 2 fall out of the sky and 300 people die.

Now they ARE testing... or at least doing more than what was done before, and the things they are finding are not always cheap for Boeing to deal with.

[Shadowferal]

So...unemployment = no taxes...

[jeezusisacasual]

FUCKING
SNOW
BALLING.....


my worst fear. employment to unemployment cluster fuck avalanche.

so far in the last half an hour

NCAA tourney canceled.
Spring season canceled. Season delayed.
NHL gone.
update#1: Disney's flagship California theme park is being closed due to the coronavirus outbreak

the downstream impact to employment is huge. talking about hundreds of thousand of workers and billions in goods.



umm other news...
Sen. Lindsey Graham becomes latest member of Congress to self-quarantine

so, umm I won't say what I want to say...because...mods....umm...poor guy hope he recovers.

That is my prime worry right now mostly because like i said earlier Western nations operate on a consumer economy which this will hurt further. I am still waiting to hear any legislature talk about the best plan to recovery, something in the sense that works from the ground up to further fix some of the more core issues in the western workers domain. Also recall how we were talking about credit ratings for the Corporations on the various markets i expect them to go back down to the ground floor which will pummel their share prices also which again to save face for those leaders they will have to cut the workforce instead of face the music, January 2020 literally set the record for CEO departures for the US.

I am really worried about the west becoming what Japan was in the 1990s.

[Zan15]

So...unemployment = no taxes...

I think they charge taxes on unemployment checks :P

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man I hope this does not gain traction....no move to close yet.
unions on board to keep open...
but any revolt from the workers might beat the auto companies to the trigger of production furloughs.







Coronavirus case confirmed at Fiat Chrysler facility in Indiana

From CNN’s Vanessa Yurkevich
Auto giant Fiat Chrysler confirmed today that an employee has tested positive for COVID-19 at one of its facilities in Kokomo, Indiana, according to a statement from the car maker.
“FCA [Fiat Chrysler Automobiles] is working with local area health authorities in Kokomo, Indiana, to support the treatment of an employee who tested positive for COVID-19. The employee, who works at the Kokomo Transmission Plant, is currently receiving medical care,” the statement read.
The employee’s immediate co-workers have been placed into quarantine along with others in the facility who the person may have come into direct contact with. FCA has deep cleaned and disinfected the employees working area.
The company is also “deploying additional sanitization measures across the entire facility, retiming break times to avoid crowding and deploying social spacing,” according to the statement.
More context: The United Auto Workers union, which represents 400,000 members, is actively monitoring the situation and working with Fiat Chrysler on precautions and measures necessary to “protect our members and everyone who works in our facilities,” said United Auto Workers Vice President Cindy Estrada.

The FCA Kokomo plant currently remains open.

[AeneasBK]

I was not being facetious. I don't think he was either.

Nono, I meant *I* was being facetious about Beoing sponsoring another war to recoup their losses. Expected to be mocked not partially agreed with :P

[Levelfive]

I laughed. Then i remembered that this is our reality now.

Dude. I feel this way allllllllllllllllllll the time. I thought about making it my signature...

[Low Hanging Fruit]

I know it's not what our resident Trump supporters want to hear, but you can 100% blame todays crash on Trump and the disastrous address he made last night.

One of the most important duties a president has is trying to keep the nation calm in a time of crisis and Trump completely fucked it up yet again.

I noticed last week most of them seemed to have gone on "vacation" from the forums. I wonder why?

[Omega10]

Nono, I meant *I* was being facetious about Beoing sponsoring another war to recoup their losses. Expected to be mocked not partially agreed with :P

rofl.

Ooops... sometimes sarcasm and such do not translate well over the internet

[Zaydin]

I noticed last week most of them seemed to have gone on "vacation" from the forums. I wonder why?

And those who aren't on vacation aren't posting in any of these threads.

[Thepersona]

Dude. I feel this way allllllllllllllllllll the time. I thought about making it my signature...

I understand you. Now i'm trying to escape it by playing weeb games on my repaired psp

[D Luniz]

So with the New York ban on large gatherings
Does that mean on Monday that all stock trading on the floor is banned?

[Zan15]

So with the New York ban on large gatherings
Does that mean on Monday that all stock trading on the floor is banned?

I think it was social gatherings.

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another industry hit.....in a bad way


American Airline pilot tests positive for coronavirus

An American Airlines pilot has tested positive for coronavirus, according to the airline and a second source familiar with the matter.

[Rasulis]

Looks like tomorrow will be another ugly day. Microsoft, Apple and Amazon all went down in after hour trading. When this started, I made a joke to my wife about Microsoft going down to $130 per share. It is not so funny now.

Morgan Stanley thinks that Chesapeake and Whiting will default in less than a year. Antero, Oasis and Range in a year. Occidental, Apache, Continental, Cimarex, Noble, Marathon and Hess will likely be reduced to junk bond status. I think oil/gas investments are dumb, but that's a lot of good paying jobs.

[Jastall]

Every time I'm checking my portfolio, I'm singing Free Fallin in my head. Time to buy a new bottle of whiskey.

Part of me now wonders if companies selling alcohol actually do better when the economy falters.

Probably not, but more financially literate people might consider this thought exercise .

[Zan15]

Looks like tomorrow will be another ugly day. Microsoft, Apple and Amazon all went down in after hour trading. When this started, I made a joke to my wife about Microsoft going down to $130 per share. It is not so funny now.

Morgan Stanley thinks that Chesapeake and Whiting will default in less than a year. Antero, Oasis and Range in a year. Occidental, Apache, Continental, Cimarex, Noble, Marathon and Hess will likely be reduced to junk bond status. I think oil/gas investments are dumb, but that's a lot of good paying jobs.

so far in very very early trading its down another 1%

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hmm spoke too soon

21,056.62 20,595 -461.62 Last updated: Thu Mar 12 2020 | 7:51 PM EDT

2,468.64 2,418.25 -50.39

7,253.65 7,074 -179.65


https://www.cnbc.com/pre-markets/

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FINALLY SOME HOPE!!



NBA's Cleveland Cavaliers to compensate all stadium employees regular wages


The NBA’s Cleveland Cavaliers announced today that they plan to compensate all Rocket Mortgage FieldHouse employees, hourly and event staff team members, as if every game and every event is still taking place.