if you have kids and savings you are the monopoly man to me
― COVID and the Gang (jim in vancouver), Friday, 3 April 2020 18:32 (four years ago) link
Canada has p generous refundable credits, you’d probably come out ahead jim
― flopson, Friday, 3 April 2020 18:34 (four years ago) link
Someone added the GameCube intro to my unemployment graph & it’s significantly better now. pic.twitter.com/c35hS74sok— Dorsa Amir (@DorsaAmir) April 3, 2020
― 𝔠𝔞𝔢𝔨 (caek), Friday, 3 April 2020 18:55 (four years ago) link
omfg
― silby, Friday, 3 April 2020 18:56 (four years ago) link
now do it with the marimba one
Worth noting in comparisons to Katrina, that property owners in NOLA were practically swimming in insurance payouts for the first 2-3 years thereafter. The country through the insurance and Federal grants, subsidized a local remodeling and real-estate boom, in which shotgun shacks got new wiring, flooring, plaster and paint, and were converted to Air B&Bs, even though the underlying tourist driven economy wasn't much improved. Contractors did really well. Early RE investors did really well. Renters that didn't land permanently in Dallas or Houston, all were screwed by a near doubling of housing costs.
This model of "recovery" doesn't really apply when the whole country is suffering at once, and when 30% of workers at restaurants, hotels, taxi service, massage spas etc see no recovery for a year... One can throw money at a city at get a real estate boom, but throwing money doesn't change new patterns of social behavior.
― Sanpaku, Saturday, 4 April 2020 20:29 (four years ago) link
it’s certainly true that it’s harder to insure a nation-wide shock than a regional one. but luckily US can borrow for free right now. the relevant constraint seems more congress’ willingness to spend (so far it’s been compliant) and institutional difficulty of getting cash out everywhere quickly (this one is more binding). the biggest factor that will contribute to a slow recovery imo is the virus lasting a really long time
i don’t think real estate is going to be super important to the recovery from this; there’s no destruction of physical housing stock as in Katrina and construction seems to be continuing apace (at least where i live)
the point of the analogy to katrina is that the labour market recovered quickly; it shows that it’s not the case that the length of the recovery is necessarily proportional to the size of the shock, as seems to be the case with “normal” recessions
― flopson, Saturday, 4 April 2020 20:42 (four years ago) link
Capital gains cut! Therse people are grotesque parodies. https://t.co/ZSaSXQe6ui— Doug Henwood (@DougHenwood) April 6, 2020
― brooklyn suicide cult (Dr Morbius), Monday, 6 April 2020 15:22 (four years ago) link
I'd like to know where folks think they're going to be earning any capital gains rn
― longtime caller, first time listener (man alive), Monday, 6 April 2020 15:59 (four years ago) link
Meanwhile, coronavirus accelerates the death of retail, and things are so fucked up atm that it doesn't even make sense to file for bankruptcyhttps://www.cnbc.com/2020/04/04/coronavirus-retail-is-used-to-existential-crises-but-bankruptcies-wont-save-it-now.html?&qsearchterm=retail%20bankruptcy
― longtime caller, first time listener (man alive), Monday, 6 April 2020 16:02 (four years ago) link
infrastructure week!
― silby, Monday, 6 April 2020 16:14 (four years ago) link
Instead, landlords are in their own pain and facing their own uncertainty
pobrecitos
― silby, Monday, 6 April 2020 16:16 (four years ago) link
There's some shorting stocks who've racked up sizable short-term cap gains.
― Sanpaku, Monday, 6 April 2020 16:26 (four years ago) link
so much for that story stockhttps://finance.yahoo.com/news/peloton-halts-live-classes-employee-182923624.html
― longtime caller, first time listener (man alive), Monday, 6 April 2020 20:42 (four years ago) link
https://www.youtube.com/watch?v=7kNMIPBO-oQ
― i ask cthulu to save me. but i just get dennis perrin tweets. (Hunt3r), Tuesday, 7 April 2020 18:35 (four years ago) link
lol
― i am a horse girl (map), Tuesday, 7 April 2020 18:43 (four years ago) link
I would think people who have held stocks for a long time and are panic-selling are making capital gains (that stuff is still worth a lot more than it was 10 years ago) and a capital gains tax cut would presumably encourage more panic-selling, which sounds bad to me but what do I know, I'm not a Dow 36,000-level economist
― Guayaquil (eephus!), Tuesday, 7 April 2020 19:03 (four years ago) link
i bought stock in a couple airlines a few days before they formally announced the bailout of airlines, figuring, the administration of this country is venal and corrupt, of course they are going to bail out the airlines. Once they formally announced the bailout, those stocks went up significantly. I almost doubled my money. (n.b. I think I made about $500 profit, but damn, it sure required less time and labor than working for $500) Capital Gains aren't only for stock profits -- they also apply to sales of real estate, for one.
― sarahell, Wednesday, 8 April 2020 08:12 (four years ago) link
arthur laffer to the rescue!
Tax non-profits. Cut the pay of public officials and professors. Give businesses and workers who manage to hold on to their jobs a payroll tax holiday to the end of the year.
“If you tax people who work and you pay people who don’t work, you will get less people working,” Laffer said. “If you make it more unattractive to be unemployed, then there’s an incentive to go look for another job faster.”
https://www.reuters.com/article/us-health-coronavirus-usa-laffer/cut-salaries-taxes-to-reopen-u-s-economy-says-laffer-conservative-fave-idUSKCN21Q3AT
― reggie (qualmsley), Thursday, 9 April 2020 14:24 (four years ago) link
That guy should be shot into space.
― dan selzer, Thursday, 9 April 2020 14:35 (four years ago) link
should have put an economist on the Challenger instead of a schoolteacher imo
― mh, Thursday, 9 April 2020 14:54 (four years ago) link
now that there are three little vertical bars on the right, it's time to update:
https://i.imgur.com/ajKS6iW.png
― let me be your friend on the other end! (Karl Malone), Thursday, 9 April 2020 15:19 (four years ago) link
the market has gone up like 20% in the last few weeks so clearly that's not bothering it much
― frogbs, Thursday, 9 April 2020 15:20 (four years ago) link
it will be hilarious if the market makes it back close to its ATH's despite...reality. Everyone should be able to print their own money.
― Yerac, Thursday, 9 April 2020 15:20 (four years ago) link
Yerac Monetary Theory
― silby, Thursday, 9 April 2020 15:21 (four years ago) link
my printer would go "brrp brrp brrp brrp another one bites the brrrp"
― Yerac, Thursday, 9 April 2020 15:33 (four years ago) link
Printers sold out worldwide, income inequality now based on who got to Best But the earliest
― Bo Johnson Coviddied (Neanderthal), Thursday, 9 April 2020 17:29 (four years ago) link
*Buy
Best Butt is funnier
― Kate (rushomancy), Thursday, 9 April 2020 17:31 (four years ago) link
Taking a cruel pleasure in yahoo finance comments like "Time to load up on cruise ship stocks, they haven't been this cheap in years!" Yup folks, expired milk on sale!
― longtime caller, first time listener (man alive), Thursday, 9 April 2020 18:10 (four years ago) link
omg Best Butt: your source for technology, appliances, video games, and butts
― sarahell, Thursday, 9 April 2020 18:11 (four years ago) link
Yup folks, expired milk on sale!
not a good metaphor tbh, unless you believe no one will ever go on cruise ships ever again.
― sarahell, Thursday, 9 April 2020 18:13 (four years ago) link
Cruise ship patrons often are repeat customers, so their business won't dry up entirely. Newcomers will probably be wary for a few years to come.
― A is for (Aimless), Thursday, 9 April 2020 18:31 (four years ago) link
It's a matter of if someone is investing for the short term or long term.
― sarahell, Thursday, 9 April 2020 18:32 (four years ago) link
stocks tend to go down for good reasons most of the time they go down. If it was as simple as "buy stocks that go down a lot" it would be fairly easy to get rich.
― longtime caller, first time listener (man alive), Thursday, 9 April 2020 19:36 (four years ago) link
This was the best week for the S&P 500 since 1974. https://t.co/d0PZfnCuVH #HelpIsOnTheWay #BailoutWorking https://t.co/02GoSyOMVb— David Dayen (@ddayen) April 9, 2020
― brooklyn suicide cult (Dr Morbius), Thursday, 9 April 2020 23:18 (four years ago) link
stonks.jpg
― silby, Thursday, 9 April 2020 23:34 (four years ago) link
lol what a champ:
https://www.youtube.com/watch?v=qAt7Rg1u2l8
― coviderunt omnes (pomenitul), Friday, 10 April 2020 21:28 (four years ago) link
My bad, it was already posted in the US politics thread. Still bears repeating, though.
― coviderunt omnes (pomenitul), Friday, 10 April 2020 22:16 (four years ago) link
it's okay, I avoid the US politics thread!
― sarahell, Saturday, 11 April 2020 16:22 (four years ago) link
if anyone wants to talk about the CARES Act -- I made this thread
US Politics and Economics - They CARES a Lot!
― sarahell, Sunday, 12 April 2020 17:40 (four years ago) link
bookmarked!
― methinks dababy doth bop shit too much (m bison), Sunday, 12 April 2020 22:14 (four years ago) link
Bankers will always get paid.
The mystery behind the Fed’s refusal to suspend bank dividends
Indeed, bank regulators of other developed economies, including the European Central Bank and the Bank of England, have asked their banks to suspend dividends, buybacks, and discretionary bonuses. As the Bank of England put it, these restrictions “are a sensible precautionary step given the unique role that banks need to play in supporting the wider economy…”Ironically, U.S. regulators are going in the opposite direction. A few weeks ago, they appropriately gave large banks permission to dip into supplemental capital buffers designed to give them the ability to expand their balance sheets in times of stress. But then they eased rules already in place that would have effectively required the biggest banks to stop shareholder payouts and discretionary bonuses once they dipped into those buffers. The regulators were concerned that big banks would be disincentivized to expand lending capacity if it meant they had to stop paying dividends and bonuses. But if that was the problem, the simplest solution would be to do what European and British regulators have done: just tell them they had to stop paying dividends and bonuses, whether they used their capital buffers or not.
Ironically, U.S. regulators are going in the opposite direction. A few weeks ago, they appropriately gave large banks permission to dip into supplemental capital buffers designed to give them the ability to expand their balance sheets in times of stress. But then they eased rules already in place that would have effectively required the biggest banks to stop shareholder payouts and discretionary bonuses once they dipped into those buffers. The regulators were concerned that big banks would be disincentivized to expand lending capacity if it meant they had to stop paying dividends and bonuses. But if that was the problem, the simplest solution would be to do what European and British regulators have done: just tell them they had to stop paying dividends and bonuses, whether they used their capital buffers or not.
― speaking moistly (Sanpaku), Tuesday, 14 April 2020 23:37 (four years ago) link
https://i.imgur.com/QP7OIOs.png
― let me be your friend on the other end! (Karl Malone), Thursday, 16 April 2020 17:29 (four years ago) link
But the Fed will rescue the economy, because "the economy" is code for "banks and financial markets", so rest assured Karl.
― A is for (Aimless), Thursday, 16 April 2020 17:46 (four years ago) link
well -- one thing is, that a lot of the economic disaster aid is being paid in low-interest partially forgivable loans that are supposed to be going to pay workers, that are going through banks -- and the banks have regulations about how much they can lend -- so, in a sense, we actually do need the banks to have money right now.
― sarahell, Thursday, 16 April 2020 17:51 (four years ago) link
we always need the banks. they are indispensable. the problem is usually that they know it and so frequently abuse that centrality.
― A is for (Aimless), Thursday, 16 April 2020 17:56 (four years ago) link
omg really????
― sarahell, Thursday, 16 April 2020 18:25 (four years ago) link
says the woman who just instructed me that "in a sense, we actually do need the banks to have money right now"
― A is for (Aimless), Thursday, 16 April 2020 18:29 (four years ago) link
oh good, at least we are clear that you are aware of my gender in the context of your condescencion!
― sarahell, Thursday, 16 April 2020 18:30 (four years ago) link