The Nation's Financial Condition

[ardilla secreta]

And you weren't rooting for Obama to fail, right?

Republicans intentionally stalled all legislation----including spending-----for six years, simply to stick it to Obama.

Not only did that not bother you, you cheered them on. And there are sailors at the bottom of the ocean because of McConnell's craven politics.


The instant Trump gets into power? Out comes the checkbook, and Republicans make government bigger than ever, pumping trillions of dollars through the economy. And then you come along and cheer this big government economy that is entirely borrowed.

I don't get it. I don't get why you're not mad about this massive spending spree.

I find the jobs report to be fairly worthless like the Dow Jones index. Doesn’t tell the whole story. But hey, 45,000 of the 273,000 increase were government jobs. The biggest increase was in health and social assistance, 57,000. I’m betting few were brain surgeons, more like bed pan changers. Next biggest was in food service and drinking places, 53,000. That’s where you get sent home when customers don’t show up. Few awesome benefits in that category. Employment in other major industries, including mining, manufacturing, wholesale trade, retail trade, transportation and warehousing, and information, changed little over the month. Wasn’t that the category that the current administration was supposed become a game changer?

Average hourly earnings of private-sector production and nonsupervisory employees increased by 8 cents to $23.96 with a average workweek of 34.4 hours. That’s $824.22/week before deductions. That’s living large in the growth regions isn’t it?

[Typical Lax Dad]

Invest in board games & jigsaw puzzles.

[CU88]

273,000 new jobs in February

ALREADY ADDED MORE JOBS in 2020 then were predicted for the year.

December and January job numbers adjusted upward 85,000 jobs.

Gotta fire this basted. Make it stop

So how many more jobs do you predict for the next three quarters?

What're you hoping for-0

Its what the American people will take into consideration—democrats want them hurt—trump wants them doing well.

Wow, so nothing of substance to offer?

[CU88]

FACT:

“The broader stock indexes … finally succumbed to the unraveling of an unbelievable period of excessive optimism on the part of the investing public and speculators,” said Steve Craig, chief energy analyst at Elliott Wave International, in an email. “It’s easy to blame the global selling panic on fears of a coronavirus pandemic, but it has more to do with the unwinding of excessive investor optimism than anything else.”

[RedFromMI]

FACT:

“The broader stock indexes … finally succumbed to the unraveling of an unbelievable period of excessive optimism on the part of the investing public and speculators,” said Steve Craig, chief energy analyst at Elliott Wave International, in an email. “It’s easy to blame the global selling panic on fears of a coronavirus pandemic, but it has more to do with the unwinding of excessive investor optimism than anything else.”

There are some significant and well-deserved fears about the business effect of the novel coronavirus (COVID-19). The best way to mitigate the public health effects (and prevent deaths as well as keep our health systems functional) might involve some extreme measures of shutting down public events and even businesses/schools to keep people home.

The experience in China where some drastic measure have been taken might be instructional - take a look at the following communication of an American working for a company in Shanghai about what he has experienced:

https://talkingpointsmemo.com/edblog/am ... m-shanghai

Not that all those measures would work in the US, but the cooperation of the public and the willingness to put in place some potentially extreme measure has probably bought China a better scenario with respect to COVID-19, as well as bought the rest of the world time to prepare (which the US seems to be failing on).

[CU88]

FACT:

“The broader stock indexes … finally succumbed to the unraveling of an unbelievable period of excessive optimism on the part of the investing public and speculators,” said Steve Craig, chief energy analyst at Elliott Wave International, in an email. “It’s easy to blame the global selling panic on fears of a coronavirus pandemic, but it has more to do with the unwinding of excessive investor optimism than anything else.”

There are some significant and well-deserved fears about the business effect of the novel coronavirus (COVID-19). The best way to mitigate the public health effects (and prevent deaths as well as keep our health systems functional) might involve some extreme measures of shutting down public events and even businesses/schools to keep people home.

The experience in China where some drastic measure have been taken might be instructional - take a look at the following communication of an American working for a company in Shanghai about what he has experienced:

https://talkingpointsmemo.com/edblog/am ... m-shanghai

Not that all those measures would work in the US, but the cooperation of the public and the willingness to put in place some potentially extreme measure has probably bought China a better scenario with respect to COVID-19, as well as bought the rest of the world time to prepare (which the US seems to be failing on).

I agree, my contention was that the market has been inflated and a correction was due.

A co-workers religious school has quietly given parents heads up to a pending closing this week. I think that this decision is correct and it should be open and public for all to hear.

[Typical Lax Dad]

FACT:

“The broader stock indexes … finally succumbed to the unraveling of an unbelievable period of excessive optimism on the part of the investing public and speculators,” said Steve Craig, chief energy analyst at Elliott Wave International, in an email. “It’s easy to blame the global selling panic on fears of a coronavirus pandemic, but it has more to do with the unwinding of excessive investor optimism than anything else.”

There are some significant and well-deserved fears about the business effect of the novel coronavirus (COVID-19). The best way to mitigate the public health effects (and prevent deaths as well as keep our health systems functional) might involve some extreme measures of shutting down public events and even businesses/schools to keep people home.

The experience in China where some drastic measure have been taken might be instructional - take a look at the following communication of an American working for a company in Shanghai about what he has experienced:

https://talkingpointsmemo.com/edblog/am ... m-shanghai

Not that all those measures would work in the US, but the cooperation of the public and the willingness to put in place some potentially extreme measure has probably bought China a better scenario with respect to COVID-19, as well as bought the rest of the world time to prepare (which the US seems to be failing on).

It’s fitting for Trump. Given a head start and fall behind. Just look at how little return he generated on his inheritance and debt capacity afforded him via his father’s guarantee.

[Trinity]

The Dow was at 19,800 when Trump was inaugurated.

[jhu72]

Currently the market has lost more than 50% of its gains under Orange Duce. Dow Jones closer to his inauguration day than the high close of two weeks ago.

[holmes435]

As of 1:15pm:

DOW -6.22%
NASDAQ -5.19%
S&P -5.91%

Also, Oil crashes by most since 1991 as Saudi Arabia launches price war

Also,



May you live in interesting times.

#OrangeMonday

[Kismet]

https://www.inc.com/heather-r-morgan/wh ... -need.html

"Why the Coronavirus Is a Black Swan Event We Might Actually Need
A former international economist who was also one of the first 100 cases of Middle East Respiratory Syndrome (MERS) shares some possible benefits from the Wuhan Coronavirus, including policy change and market corrections."

[Trinity]

Down 2000 pts.

[old salt]

FACT:

“The broader stock indexes … finally succumbed to the unraveling of an unbelievable period of excessive optimism on the part of the investing public and speculators,” said Steve Craig, chief energy analyst at Elliott Wave International, in an email. “It’s easy to blame the global selling panic on fears of a coronavirus pandemic, but it has more to do with the unwinding of excessive investor optimism than anything else.”

There are some significant and well-deserved fears about the business effect of the novel coronavirus (COVID-19). The best way to mitigate the public health effects (and prevent deaths as well as keep our health systems functional) might involve some extreme measures of shutting down public events and even businesses/schools to keep people home.

The experience in China where some drastic measure have been taken might be instructional - take a look at the following communication of an American working for a company in Shanghai about what he has experienced:

https://talkingpointsmemo.com/edblog/am ... m-shanghai

Not that all those measures would work in the US, but the cooperation of the public and the willingness to put in place some potentially extreme measure has probably bought China a better scenario with respect to COVID-19, as well as bought the rest of the world time to prepare (which the US seems to be failing on).

It’s fitting for Trump. Given a head start and fall behind. Just look at how little return he generated on his inheritance and debt capacity afforded him via his father’s guarantee.

Do you share such insightful market timing advice with your clients & business associates ?

[RedFromMI]

Down 2000 pts.

-2013.76 to end at 23,851.02. Loss of 7.79% today, 19.29% since peak if my calculations are correct.

[Trinity]

I smell a bear. If I were President the airlines get zero help unless they take out three rows of seats.

[Typical Lax Dad]

FACT:

“The broader stock indexes … finally succumbed to the unraveling of an unbelievable period of excessive optimism on the part of the investing public and speculators,” said Steve Craig, chief energy analyst at Elliott Wave International, in an email. “It’s easy to blame the global selling panic on fears of a coronavirus pandemic, but it has more to do with the unwinding of excessive investor optimism than anything else.”

There are some significant and well-deserved fears about the business effect of the novel coronavirus (COVID-19). The best way to mitigate the public health effects (and prevent deaths as well as keep our health systems functional) might involve some extreme measures of shutting down public events and even businesses/schools to keep people home.

The experience in China where some drastic measure have been taken might be instructional - take a look at the following communication of an American working for a company in Shanghai about what he has experienced:

https://talkingpointsmemo.com/edblog/am ... m-shanghai

Not that all those measures would work in the US, but the cooperation of the public and the willingness to put in place some potentially extreme measure has probably bought China a better scenario with respect to COVID-19, as well as bought the rest of the world time to prepare (which the US seems to be failing on).

It’s fitting for Trump. Given a head start and fall behind. Just look at how little return he generated on his inheritance and debt capacity afforded him via his father’s guarantee.

Do you share such insightful market timing advice with your clients & business associates ?

[a fan]

There are some significant and well-deserved fears about the business effect of the novel coronavirus (COVID-19).

I frankly don't think people are worried enough about the economic effects that are already on the water....

And people forget that things don't go back to "business as usual" when a treat goes away. It takes many months, if not over a year, to "unspook" consumers.

Think: post 9/11. Except this is far worse.

If I own a restaurant in the US right now? I'm fearful I can keep the place open.

[HooDat]

And people forget that things don't go back to "business as usual" when a treat goes away. It takes many months, if not over a year, to "unspook" consumers.

sometimes, they learn new habits and never "un-spook"...

movie theaters may be dead - forever

I posted a little rant on the Corona thread about universities. If schools move to on-line courses to finish the year out, can they get the genie back in the bottle?

Lot's of other potential ramifications we haven't even begun to think up....

[a fan]

I posted a little rant on the Corona thread about universities. If schools move to on-line courses to finish the year out, can they get the genie back in the bottle?

Never happen for any good to world class Universities. The human connections are almost more valuable than the degrees themselves, in most cases.

Lot's of other potential ramifications we haven't even begun to think up....

No argument there.

Again, I'm counting the days before consumers who keep restaurants afloat remember that not a single person who handles their food has access to a doctor.

[OCanada]

The fuel is there. All that is needed is a match to create a recession more severe than 2007/2008. The earlier recession was basically a failure of the financial system. This one will, if the match arrives, be much broader based. The Fed has little firepower left. Debt has kept the economy afloat. Both issuers and investors in bonds are at high risk. Corporations hoarded cash or bought back stock from the cash available from a tax cut that never provided much of anything it promised but did provide fiscal stimulus to the economy at the cost of driving debt over $23 billion. Many people are worse off now than previously. The trade war has been a failure. Many jobs have been paying service industry jobs that provide limited room if any for savings or health insurance. 44% of Americans are barely earning enough to live. The Fed repeatedly has warned about leveraged borrowing. What’s going on is hitting everyone with a business.

The $8 billion allotted to the coronavirus so far "is an insult," Claudia Sahm, former top economist for the Fed's Board of Governors. "It has to be hundreds of billions of dollars, and it has to be now."

Our response has been pathetic. In Italy the demand for treatment is 200% of available beds. Treatment is pushing aside treatment for other disease. People over 65 are not getting treatment. Italy is not a third world country and had a pretty good healthcare system. In Lombardy a very developed area:

“Patients above 65 or younger with comorbidities are not even assessed by ITU, I am not saying not tubed, I’m saying not assessed and no ITU staff attends when they arrest. Staff are working as much as they can but they are starting to get sick and are emotionally overwhelmed.” Jason Von Schorr in Italy.

He also repoets “ We’ve stopped all routine, all ORs have been converted to ITUs and they are now diverting or not treating all other emergencies like trauma or strokes. There are hundreds of pts with severe resp failure and many of them do not have access to anything above a reservoir mask.

Failure to adequately address this will lead to premature deaths not only from the virus but possibly bother causes from diverted resources