Rolling US Economy Into The Shitbin Thread

umm guys

they just don't know how to stop.

sittin on caaaaaaaash

i am on the inverse etf/etn trip. And tvix. Oh I hate it. It burns to hold.

up 1200 points in a couple hours, working hard thank you!

hilarious that they are going to bailout the airlines.

I hate the airlines

airlines and financial institutions should've had enough in reserves for this type of scenario.

Spend the $50 billion the airlines want on trains instead, fucking leeches

omg trains and buses. yes.

for profit companies should never be bailed out by the government.

airline profit margins are very thin iirc?

xps

not that I'm gonna champion them or anything, air travel should be banned imo

like, just in general, not because of the virus

re: airlines having money on hand in case this happens: but shareholders would see that as undistributed dividends!

the one conspiracy theory I am starting to believe in is that publicly held corporations and the ridiculous frantic trading of the stock market are designed to slam our system into a brick wall

fuck an airline: https://www.nytimes.com/2020/03/16/opinion/airlines-bailout.html

Holy shit! That presser tanked the fuck out of the market

I don't understand why. Trump rates his performance a 10.

Yerac: you seem to know a lot about this. Is there a floor here?

Yerac, do you trade using an online brokerage or do you have a "guy"?

dow is now negative during trump's term

No, I have always used online brokerages. Floor?

Realistic bottoming-out point...I mean, I guess nobody knows.

well, since the DJI and others are indices of stocks that are seen as relevant to the market, a big signal would be certain companies getting bumped out of the index

Oh, I thought you meant trading floor.

I mean, I don't. Everyone is looking at the dow but I rarely trade anything in that index. And a lot of it is personal. People have different timelines of how long you hold things. Trade the swings or volatility intraday or overnight or if you are trying to just accumulate for longterm (one month one year, retirement) or things with dividends. I just know the general market still has a long way it can go down.

Thanks. Can I ask which you prefer?

I don't believe investment advisers, especially ours, have any fucking clue what they are doing, but have played the game due to lack of detailed knowledge and unwillingness to make the leap. I was ready to put money in an inverse ETF two weeks ago and lost my nerve when speaking to my guy. Might be time to get rid of my guy.

inverse etfs/etns (esp leveraged) are very very risky. I think a lot of brokerages are making you sign something now to get access to trade them. It's a lot of risk. Like look at what the gold miners and jr miners did in the last 2 weeks. JNUG/NUGT and DUST/JDST. It can wipe you out quickly.

Brokerage I prefer?

How long til there are runs on banks?

your money is fdic insured uo to 250k. Although I always keep some cash at my house.

Bank runs? What are you gonna do with big piles of hundos in your house?

make a rap video.

we still live in a system with cash bail here in the us

P sure it’s illegal to film real money?

Can that be right? Or is it just you can’t have fake money that looks remotely real

you can't have print facsimiles of real money, but throwing around real cash in video format is fine

movies don't use real money because... why would you do that

Brokerage I prefer?

― Yerac, Monday, March 16, 2020 4:11 PM (five minutes ago) bookmarkflaglink

Yes, sorry.

They are all kind of going 0 commission which is the big thing now. I guess it depends on how much you prefer that brokerage's user interface, if you like the research they publish or trading tools or if you like their own products (like vanguard or fidelity funds).

I've had accounts at etrade, Td Ameritrade, tradeking (now Ally), scottrade, morgan stanley and interactive brokers. I have some memory of Fidelity. I want an account at Schwab for their no fee international atm card. Basically, they are all kind of the same for online. It's a preference. I do know that Robinhood has a lot of outages which seems annoying.

Thanks.

I only had accounts at this many places because places I worked made me move them to their "designated brokers".

a note just in case you were thinking of it: if you are thinking of switching brokers it takes awhile to acat accounts, like several days to a couple of weeks. So you may not want your money tied up while the market is crazy.

I want an account at Schwab for their no fee international atm card.

a good friend of mine has this and likes it ... she travels a lot for work.

This may be a small point but, this would be a good time to re-evaluate the TCJA legislation, and consider reverting back to some of the previous tax code, such as allowing the deduction for unreimbursed employee business expenses -- such as the office in home.

xpost yeah and unless they have changed a lot in the last couple of years, people at schwab are generally really helpful and their client statements and technology are better than most.

I have had my schwab account for like 20 years? ... their interface re: researching can be a little awkward, but it is pretty solid.

bailouts for every industry are good and necessary. also need to make bail outs conditional on not firing anyone

Lol yea that'll happen

i understand that this thread is mostly for blowing off steam and exchange trenchant one-liners. that’s ok; it’s much more important that people understand the public health than the economics.

the fiscal response by republican congress will be infuriating, insufficient and inequitable. it’s good to be mad about that. im very mad about it and scared for friends and family in the US.

however, right now fiscal policy is needed in a huge way just about everywhere in the world at all levels. we need it to keep money flowing while all non-essential activity shuts down. it will not come in the perfect policy package, but in some imperfect shitty way, but it will still help

flopson otm

Insane to see the central bank geniuses pull their magic lever and the lever just breaks off in their hands. Whatcha gonna do now geniuses??

good thread

Something I want to address:

Lots of people are calling for direct $ transfers to households. $1000/per person, $5000/house etc.

And I've seen some people say things in response, well like "If we can give people $1,000, why not just give them $100,000 and we'd all be rich." /1

— Joe Weisenthal (@TheStalwart) March 15, 2020