What recession

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the world will always the world. your entire existence is defined by your response.

They’re going to print money like never before. They will flood the financial system with more cash than 2008 and 2009. Might as well have a two trillion fiscal stimulus plan as well. Let the cash rain from the sky until we finally get the hyper inflation that should have already resulted from zero interest rates and massive QE.

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Hawaii (fuck) You

It's going to be a doozy. Goodbye President Trump. Hello, President Senile

If Hilary was elected we wouldn't have seen the economy peak like it did with trump but it wouldn't have popped like it is now

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the world will always the world. your entire existence is defined by your response.

Futures down 1K already, tomorrow will be a blood bath

Nah, it will be back up to 28k by fourth of July.

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yes it would have.
this dive has absolutely zero to do with the POTUS.

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A massive vote of no confidence.

Thanks diaper boy.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

Denis explain this to me. Shit has fallen faster than back in 08. I know this isn't ALL Covid-19 related, but this crisis can't be as bad as 08 because people aren't defaulting on the mortgages. Explain what's happening and SHOW YOUR WORK.

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Circuit Broke again!

The test will be in a few minutes when trading re-opens. The circuit breakers are:

-7% Pause 15 minutes
-13% Pause 15 minutes
-20% Trading closed for the day

In the last week, we've hit the first level but not the others.

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The vote happens in November. This has next to nothing to do with Trump.

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Why are only 14 percent of black CPS 11th-graders proficient in English?

It's going to hit -13% very soon here.

Oil down over $3 to around $28.

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2008 really hit the financial stocks. You saw Bear and Lehman tank like this as fear set in. This particular crisis is shutting down a much broader portion of our economy. Anything related to travel is effective done- airlines, cruise ships, hotels, restaurants, shows, etc. It is also fully global, hitting the supply chains, starting in China, so it is expected that certain goods will not be available.

The decline in personal income is going to come fast. It is also psychological in that fear of one another and fear of running out of food and medical care is setting in.

I am with some of FF’s comments in the corona thread. They have created massive panic. Maybe this is the necessary medical response, but it sure feels like a gross overreaction.

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Hawaii (fuck) You

I'm loading up on Delta this morning. 4.2% div yield!

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Reality is your friend, not your enemy. -- Seacrest

Macy’s is going to hit a 100% dividend yield by the end of the week. Of course, I suspect most of these companies are going to suspect dividends if this keeps up.

Macy’s is going down as one of my worst investments since Frontier Communications. Yikes!

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Hawaii (fuck) You

What was your thinking on that one? Have you actually been IN a Macy's in the past 10 years?

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Reality is your friend, not your enemy. -- Seacrest

I generally agreed with this early. The constant buffoonery, blatant lies and absolute incompetence of the administration has created the hysteria and led to the lack of investor confidence. This honestly looks like a shell game that's been exposed. Distressingly, I wonder if there's leadership willing and able to step up.

I will admit that as a person of compromised health, my anxiety is going to ridiculous levels. I also fear that it's only going to get worse. Keep in mind that I lived through a massive hurricane and another major federal screwup and the similarities are glaring.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

I have, go to Woodfield all the time.

It has a nice yield, a decent balance, still profitable operations and is sitting on real state worth more than its entire market cap. I have played the stock a few times and generally done well. Longer term, yeah it’s in the same bucket as Penney’s, but they have an ok market position.

I have been building an income earning portfolio in my after tax brokerage account. It was in lieu of being mainly fixed income since interest rates are low. I started with At&t, Newell, and Macy’s along with my legacy holding in American Financial Group. Now I always keep significant levels of cash outside tax protected accounts, but my Etrade account fell below 2% interest rates last year. I started looking elsewhere.

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Hawaii (fuck) You

I get the search for dividends. My investing philosophy is if I go into a store and I think "jesus christ, this place is a fucking dump" then I don't buy that stock. The stores still sport Marshall Fields fixtures. that's 30 years ago!

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Reality is your friend, not your enemy. -- Seacrest

I’ll put politics aside. The system is warped. I’ve talked about this over the years, but like everyone here, I have to live and thrive within what we have. If I could design a better system it would look like this:

-All levels of government would run in fiscal balance. In that way we would allocate scarce resources better. If as a citizen you value outsized military spending, then you have to pay for it. If you value schools, you have to pay for it. We prioritize. Instead we live in a society for we borrow heavily from tomorrow in perpetuity giving the illusion that we can have free lunches.
-Balanced trade. That is what the gold standard forced on us. Instead of this crazy fiat currency, we have to live within our means lest the dollar’s value falls. If/when global markets lose faith in fiat currencies, the entire system will collapse.
-Entitlements and pensions are funded actuarially. This gets back to my first bullet point. The day of reckoning is going to be ugly.
-A deduction less tax system, Why favor mortgage interest over rent? Why favor churches over businesses? Use the tax system to raise revenue not impact behavior.

We’re so far down this road of mismanaged government finances, I am not sure how we ever get on track. The Bowles Simpson plan was a nice road map that was rounded rejected. They did real work to get things under control.

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Hawaii (fuck) You

Market still holding at -8%. I know it's strange to say, but it will feel like a win if we stay above the second circuit breaker today.

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You’re not wrong....

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Hawaii (fuck) You

Dennis your points make sense. It really is a long way of saying though that the government (and really every single adult citizen) is like a parent that never wants to tell their child no. The connections in needs versus wants and costs versus value are all out the window.

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Elections have consequences.

I have always theorized that our out of control government spending on borrowed money is simply a reflection of broader societal values....

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Hawaii (fuck) You

Something else that has nothing to do with today's discussion.

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Why are only 14 percent of black CPS 11th-graders proficient in English?

Except it does, no matter how much your politics lean. If we didn't have a group so wrongly fixated on numbers that they've spent the last three years gaming the system and removing all the failsafes, I sincerely doubt that the mess wouldn't be so deep.

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There are only two examples of infinity: The universe and human stupidity and I'm not sure about the universe.

The president leads every press conference talking about the markets. No thoughts, prayers or positive thoughts to the people.

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Be well

GO BEARS!!!