The stock market is taking an absolute pounding. It opened today at -10% and hit a circuit breaker in the first second.

This is, of course, after an already big down week last week.

Obviously there's some relationship to the coronavirus, but I think the fears are even more systemic than that. We can get into more on that here.

Hope you're all excited to be witnessing the fastest stock market crash in history. The internet enables all sorts of wonderful things.

Now's the time to invest in SF_Gold's beach project

Mightn't be a bad idea to buy some farmland with a bunker and ammunition at this rate.

Today was one of the biggest down days in stock market history. As in, right next to the 1929 panic. Things are bad, and the markets seem to react 100% the opposite to everything the Fed is trying to do to slow it down.

It's looking like time to buy.

That last line is a joke by the way.

im p good at catching falling knives not like other poeple

The drop erased about three years of gains — the growth of the stock market since Trump took office. That’s bad, but it’s going to get a lot worse. You see people casually throwing around the R-word, but soon enough they’ll start using the D-word. Right now we don’t want to say it and give it too much power, you know?

On the other hand, maybe Mitt Romney will get us a thousand dollars a month!

By the way the D word is “dick.”

Yeah, this isnt the bottom. But good luck timing that anyway.

2008 was a paper recovery. 2020 is testing the mechanical properties of paper.

Monetarism is dead this time around. The results? Who knows.

We're already 0 interest and 700 billion in QE territory and the market still tanked.

https://www.reuters.com/article/us-health-coronavirus-boeing/boeing-in-talks-for-short-term-u-s-government-assistance-source-idUSKBN2133WX

Uh-oh

2008? Is that you I hear?

My greatest sorrow is that this will be remembered as the pandemic depression, not as the neoliberal monetarism depression it actually is.

We will surely learn nothing. Or, we will prepare for another pandemic, and then someone looking to make their career will roll it back later.

It'll be a great time to get in at the bottom of the market! *Rolls Dice*

That makes a lot more sense than stimulus. You can't be actively trying to stop economic activity on one hand, and stimulating in the other. It's better to just do things to keep institutions in tact until the virus blows over, and let them recover with the return of consumer demand.

For posterity, this pandemic follows:

Treasury yield inversion.
Business short term bond liquidity crisis.
Multiple rounds of funds rate cuts on the back of political pressure.
Wage stagnation despite excess employment.
Inflation despite wage stagnation.
Corporations showing strong preference for [leveraged] share repurchase instead of reinvestment (underwriting equities speculation / no good investments = management pessimistic).
Growing concern about the corporate debt bubble.
Projected declines in commodities demand growth (particularly oil).
3 years of factor price disruption due to volatile US trade policy.


So don’t let anybody tell you this isn’t trumps fault. That check engine light has been blinking for a while. Everybody expected something like this eventually. Did the pandemic make it worse? Probably. But this is going to be the trump depression. He owns this.

Also, you know, big picture: taking all of the slack out of the global supply chain, cutting public goods (+ healthcare) to a ~profit maximizing~ level of service, irresponsible financial regulation that pushed all savings into a single asset that were currently watching melt down. I could go on. But mostly this one is trumps.

What's worse is trump will be managing it, and his incompetence will shine through. Well either him or one of his dumbass kids.

Jared Kushner is an expert, he bought a ****ty building at the peak of a bubble.

What if it turns out that rich people don’t understand stonks either, they’re just a bunch of lucky do-nothings? :O

Oh, rich people understand stocks:



Just on a different level than us.

where's the soundboard

Ha, how uh... wonderfully? brazen.

What actually concerns me is whether or not I should cancel my Roland Cloud subscription, which is billed in dollars, if the currency exchange rates will go wild and insane overnight or something

Good news! European and American finance are so intertwined that there will likely not be capital flight.

If we're going down we're taking you with us!

The fed is buying up to a trillion in corporate debt.

The US is finally getting welfare expansion! Doesnt help the businesses in most need though.

FREE MONEY YOU GUYS

how am i to deposit this check

https://mobile.twitter.com/TrueAnonPod/status/1239950070679650304

Democrats are being such buzzkills. They’re getting out-flanked on the left by Trump, Tom Cotton and Mitt Romney. Ew.

marshmallow now or two in ten minutes

They're too busy tweeting about how Sanders is unelectable to do anything worthwhile.

I cannot stress enough how much federal reserve policy is geared towards propping up stocks, warding off an implosion of corporate bonds (to prop up stocks), and is blatantly ignoring all small businesses and ordinary people.

When the proles figure out how hard this is ****ing us all they'll be angry.

They'd absolutely choose to lose this election if it meant successfully strangling the latest American leftist movement in its crib.

Another huge down day. Looking like things will close again double digits down.

Corporations are going and begging daddy government to bail them out. Apparently Boeing is groveling at Trump's feet for 60 billion today:

https://onemileatatime.com/boeing-government-aid/

And you know what? They ain't the suckers. They'll probably get it. They spent billions in share buybacks, the finance equivalent of blow and hookers, and now they get to cover their credit card bill because they stole your TV.

"Privatize the gains, socialize the losses" doesn't even come close to describing how ****ed up this is. (A 60 billion bailout would be over 100 dollars per american, btw).

****ing Starbucks is going to be asking for bailouts. I don't even see boing as essential to the american economy since we are going to have to restructure the whole thing here soon anyway, but I am expecting even peddlers of garbage coffee like starcucks to get their money printed for them.

Mark my words, heads will not roll over this.

Remember your compensation as a CEO is determined by... stock price. And what do you get when you use such an arbitrary and detached number? You get massive stock price manipulation which sacrifices the financial stability of the whole world.

The only way any CEO or board member would learn is if they federal government just stepped back and let the economy dip into recession. Until then, if your reckless behavior is bailed out, you're rewarded for being irresponsible.

I actually feel like taking stupid pills in that I think "the market will fix it".. which is true when government intervention only bails out ****ing billionaires.

The moral hazards of our economic system are so ****ing obvious and need to be dealt with.

I'm sure some newly homeless heads will roll when they sleep in a public park and the police find them.

https://old.reddit.com/r/wallstreetbets/comments/fla0t5/how_do_none_of_these_companys_have_a_contingency/

Yuh I dunno man. You wouldnt fly a plane with no failsafes, wouldnt buy a house where the engineers didnt do due diligence and gave it a passing grade anyway.

But the american economy? We need to be efficient, so we will have no stockpiles, no failsafes, no way to deal with contingencies. In fact we'll indebt ourselves and *weaken* our position in case of a downturn. Systemic risk? "We won't get in a car wreck so we don't need seat belts!"

Yet we're supposed to respect these people.

https://www.rollingstone.com/politics/politics-news/secret-recording-intelligence-chairman-warning-donors-about-coronavirus-weeks-ago-969767/

Lmao. The corruption nowadays is unreal. "Quick, all my friends and family, sell before things get serious!"

oh dont worry im like a safer driver when im drunk lol

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