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  1. #457
    Elite CJ275's Avatar
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    **duplicate post**

  2. #458
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    There is a 0% chance that grocery stores and pharmacies will be shut down.

    A much more realistic scenario is to require face masks and hand sanitizer before entering, obviously after supplies of those items allow that.

    No food and no medicine equals guaranteed chaos. Just look at how much people act like assholes during Xmas shopping sales.

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  4. #459
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    Quote Originally Posted by Jin View Post
    I have to give a tip of the hat to Gov. Cuomo.

    He’s doing an awesome job with strategy and admonishing the Fed to get their act together.

    I know nothing about him other than his handling of the current pandemic. I am impressed.
    I’m already tired of him complaining.

    “400 ventilators, wtf does that do? We need 30,0”

    congrats, guess who just got zero?
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  5. #460
    Veteran MrRippedZilla's Avatar
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    In the US, 3.28 million people filled for unemployment benefits this week - the highest number since records began in 1967. The biggest rises were seen in Pennsylvania (+378,908), Ohio (+187,784), and California (+186,809). Oh and don't forget - we've only just started.

    I'm a broken record at this point but it's worth repeating: Our economic decisions in response to this will result in a far greater human cost than the virus would ever be capable of producing by itself. The 1918-20 flu crisis resulted in a 6% global drop in GDP and an 8% drop in consumption. If we don't keep the damage below that level in 2020, it's because of political incompetence. Nothing more, nothing less.
    Last edited by MrRippedZilla; 03-26-2020 at 04:47 PM.
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  7. #461
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    Quote Originally Posted by MrRippedZilla View Post
    In the US, 3.28 million people filled for unemployment benefits this week - the highest number since records began in 1967. The biggest rises were seen in Pennsylvania (+378,908), Ohio (+187,784), and California (+186,809). Oh and don't forget - we've only just started.

    I'm a broken record at this point but it's worth repeating: Our economic decisions in response to this will result in a far greater human cost than the virus would ever be capable of producing by itself. The 1918-20 flue crisis resulted in a 6% global drop in GDP and an 8% drop in consumption. If we don't keep the damage below that level in 2020, it's because of political incompetence. Nothing more, nothing less.
    Did they mention the unemployment rate? I am trying to get a sense of magnitude ( last I could find was February - 3.5%), but donít have a sense of who they count in the denominator.


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  8. #462
    Veteran MrRippedZilla's Avatar
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    Quote Originally Posted by dk8594 View Post
    Did they mention the unemployment rate? I am trying to get a sense of magnitude ( last I could find was February - 3.5%), but don’t have a sense of who they count in the denominator.
    Unemployment rate data will be out next Friday. It's projected to have gone up to 4% but smart money is on it being higher than that. Initial jobless claims was projected to be 1-1.1m, ended up being 3.28m so...yea.

    It's interesting to see the stock market rally in response though. If sustained, it's confirmation that the markets overreacted and the "bottom" is already gone. Big "if" on whether the rally will be sustained though. Long way to go in this battle.
    Last edited by MrRippedZilla; 03-26-2020 at 04:11 PM.
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  10. #463
    Elite Viduus's Avatar
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    Quote Originally Posted by MrRippedZilla View Post
    Unemployment rate data will be out next Friday. It's projected to have gone up to 4% but smart money is on it being higher than that. Initial jobless claims was projected to be 1-1.1m, ended up being 3.28m so...yea.

    It's interesting to see the stock market rally in response though. If sustained, it's confirmation that the markets overreacted and the "bottom" is already gone. Big "if" on whether the rally will be sustained though. Long way to go in this battle.
    We received interesting guidance today. Seems some of the small business loans in the US are tied to your normal payroll levels. I’ll just say there’s strong incentives for businesses to keep people on payroll.

    Interesting angle though I have no idea how it’ll work out with revenues dropping.
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