Rolling US Economy Into The Shitbin Thread

no i work for a company that announced modestly good Q4 2019 results yesterday

Sold my house last November, bought a new one at half the cost, put some of the money into the market. Won't need to touch any of it for many, many years. Which is good, because these people are fucking nuts.

officially in bear territory

and there's the dead cat bounce

that was yesterday.

but who knows. It seems endless the amount of magic tricks they keep pulling out to try to keep this up the last couple of years.

Pretty confident what the WH does in terms of stimulus will be the wrong thing and will be ineffective. But before they realize that, they will do the wrong thing again, claiming there wasn't enough of the wrong thing done the first time.

here we go https://www.washingtonpost.com/business/2020/03/11/layoffs-coronavirus/

good luck these places https://en.wikipedia.org/wiki/List_of_ports_in_the_United_States

dowwwwn dowwwn dowwwn

When DJIA breaks below 20,000 I'll know it's getting a bit more serious. In 2008 iirc a 13,000 DJIA was near all time highs and the crash took it down to ~6,000. So, this is still far, far above the mid-aughts bull market highs.

yeah, I want continuation for the rest of the week before I feel like it'll stick.

almost everything is still way, way above the last pres election/inauguration.

has anyone heard anything about the IRS postponing tax filing deadlines?

good question!

if they're forced to do it then they still have to issue refunds to people who file now, but they don't get the income. seems bad.

there was news today that they are recommending extending the deadline.

we filed last week, fortunately

i thought that new tax income is put aside, intended for use the following fiscal year? i could be way wrong on that. but it would be very bad financial practice to rely on new tax revenue for payments due in the next few months.

30% occupancy in boutique manhattan hotels - service industry layoffs ahoy

Pretty confident what the WH does in terms of stimulus will be the wrong thing and will be ineffective. But before they realize that, they will do the wrong thing again, claiming there wasn't enough of the wrong thing done the first time.

― Josh in Chicago, Wednesday, March 11, 2020 3:39 PM (two hours ago) bookmarkflaglink

In other words, the incumbent administration's SOP. But don't call it completely ineffective; it's been markedly functional at putting even more money in the hands of the 1 percent.

I'd like to see a field trial of basic universal income in households directly impacted by service industry contraction. But I'm not holding my breath.

okay now what

i mean, time to take out a loan to invest in the stock market while it's low i think

what would a rich person do

i suppose the less wealthy half of the world could grab some pitchforks and go after the 8 wealthiest men, doubling their wealth in the process, but the problem is those 8 rich dudes are really, really hard to find and tricky to pin down

you know it will be lotsa tax cuts and subsidies for a few mega-corporations. maybe some unemployment insurance bones tossed to the laid off workers, but nothing about health care. it's always helpful to have a dysfunctional government during a global pandemic.

yeah, i loved how trump's speech mentioned $40B (or $50B? i forget) to go toward "selected companies or individuals". it was almost like a disclaimer during a penis pill ad

"many hundreds of millions will benefit jared"

I am 100% confident the markets will be calmed by President Trump's amazing, dignified speech.

I caught the last two minutes. He sounded sick? Did he snort at one point?

he snorts a lot

my 401k and i have chickened out

xp yeah he didn't sound good, but then he never really does

You'll feel better about your 401k if you look at a longer view of the chart. Like 2,3,5 years.

Or just don't look especially not right before bed.

i will never look

want to see a rally where Trump straight up hocks a loogie on the ground mid-speech

lol what if all the decongestants are because he has allergies/chronic congestion

In the Clinton debates he snorted and sniffled so much it sounded like he'd just done all of the meth in the green room.

no way a dude that age is chronically snorting stuff for years and still has recognizable nasal cavities

it's probably the grease from his Extra Crispy dripping down his throat

how do i short the world?

The Big Short 2: Bigger and Shorterer

I intend to put money in my Roth IRA when I get paid tomorrow (god willing, I won't have touch it for another 15-20 years). But looking at my Fidelity account will almost certainly be painful.

xpost. ha. I jut found an article called "How to Short the World" from early 2016.

what's annoying is that they make it so easy for most people to invest long in equities but they make it so hard for those same people to take about equivalent risk short/bear positions.

i hate money, so this is good

i hate halts.

every halt, a terminator sequel

coffee break! I am still holding tvix which I supremely hate and am going to force myself to get rid of it today even though I may regret that.

or maybe tomorrow. Ugh.

coffee and tvix over several days would hurt my heart

the DJIA closed at 19,804.72 the day comrade combover took office. an annual budget deficit north of $1 trillion later, we're almost 2000 points higher! MAGA!

yerac how did you learn about investing?