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Old 06-03-2020, 11:40 AM
 
80,164 posts, read 78,518,791 times
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Quote:
Originally Posted by lieqiang View Post
I have extended my prediction of DJIA 30k by this Friday with a slight adjustment of somewhere between this Friday and October 2024.
dont forget the great depression somewhere in between
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Old 06-03-2020, 11:48 AM
 
211 posts, read 47,636 times
Reputation: 287
Quote:
Originally Posted by mathjak107 View Post
dont forget the great depression somewhere in between
No one can time the markets. No investor ever has in the history of the world. A broken clock is right twice a day. It is best to have an infinity all weather portfolio that is always up regardless of market conditions. If the market is way up it is up even more. If the market is way down it is up even more. Make sure to also trade TLT and GLD on the sides daily as well. Stocks too. Timing is critical on those.
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Old 06-03-2020, 11:55 AM
 
80,164 posts, read 78,518,791 times
Reputation: 56679
Quote:
Originally Posted by BenInNY View Post
No one can time the markets. No investor ever has in the history of the world. A broken clock is right twice a day. It is best to have an infinity all weather portfolio that is always up regardless of market conditions. If the market is way up it is up even more. If the market is way down it is up even more. Make sure to also trade TLT and GLD on the sides daily as well. Stocks too. Timing is critical on those.
stop with your nonsense already on my posts ... i wont respond to them anyway..you stalking my posts to throw on your ridiculous comments is a waste of time
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Old 06-03-2020, 12:20 PM
 
Location: Upstate, NY
1,000 posts, read 416,801 times
Reputation: 1388
Quote:
Originally Posted by skeddy View Post
100,000 deaths from covid

66% of those deaths occurred in long term care facilities

80% of these deaths were people over 65.

another media created crisis to destroy the country. Eventually something will have to be done about the media. Many are becoming domestic terrorists.
I wonder what those numbers would be if we didn’t take the precautions?
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Old 06-03-2020, 01:34 PM
 
Location: On a Long Island in NY
7,794 posts, read 8,889,834 times
Reputation: 7290
Quote:
Originally Posted by Eeko156 View Post
That is correct. I think we will see a lot of struggling people come the end of July, and another rash of unemployment come October once the PP loan requirement of not laying off employees until October expires. Many businesses are waiting until October (if they took the loan) because they can't have it forgiven if they lay off employees before October.
Republicans seem deadset against any additional stimulus checks other than perhaps for Social Security recipients. I think it's very shortsighted on their part, I realize that the American conservative orthodoxy is rooted in the "pick yourself up by the bootstraps" mentality but the reality is that this crisis isn't over. Some economists predict that up to 40% of people that got laid off don't have a job to go back to even if we reopened every single state 100% right now with no restrictions.

The Republicans still have this fantasy that everything will magically return to normal the instant we reopen and that just isn't happening. Unemployment claims are still being filed in significant numbers in all those states that have largely reopened. What now? We can't continue to stick our heads in the sand and pretend the crisis is over just because bad numbers are inconvenient to Trump's re-election plans.
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Old 06-03-2020, 01:36 PM
 
Location: Boston
12,976 posts, read 3,737,209 times
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Quote:
Originally Posted by Cloudy Dayz View Post
For the record it's not 100,000. It's now 108,000 and going up about 1,000 a day, with no end in sight. But hey, most of them are over 65 and in long term care facilities, so LET EM DIE. Human lives are expendable if it helps the stock market go up.
I'm 67, stay in your basement, beg for government scraps.
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Old 06-03-2020, 01:49 PM
 
Location: Boston
12,976 posts, read 3,737,209 times
Reputation: 9229
Quote:
Originally Posted by dcfas View Post
I wonder what those numbers would be if we didn’t take the precautions?
not sure. New York accounts for almost a third of the deaths and that can be directly attributed to Cuomo's decision to force elderly people who tested positive into nursing home death traps.
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Old 06-03-2020, 02:17 PM
 
1,956 posts, read 1,070,006 times
Reputation: 2805
Quote:
Originally Posted by WIHS2006 View Post
Republicans seem deadset against any additional stimulus checks other than perhaps for Social Security recipients. I think it's very shortsighted on their part, I realize that the American conservative orthodoxy is rooted in the "pick yourself up by the bootstraps" mentality but the reality is that this crisis isn't over. Some economists predict that up to 40% of people that got laid off don't have a job to go back to even if we reopened every single state 100% right now with no restrictions.

The Republicans still have this fantasy that everything will magically return to normal the instant we reopen and that just isn't happening. Unemployment claims are still being filed in significant numbers in all those states that have largely reopened. What now? We can't continue to stick our heads in the sand and pretend the crisis is over just because bad numbers are inconvenient to Trump's re-election plans.
I couldn't agree more. Many Republicans think the UE numbers are high simply because many lower wage workers don't want to return to work due to the fact that their UE is more than their pay. But the jobs just aren't there. Many businesses have closed down, and the ones that have not are not going to be in a hurry to hire at their former staff capacity when they are getting by on half that (or less). Oh, and of course, fewer people are traveling, eating out, etc. - basically, not spending as much money.
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Old 06-03-2020, 02:56 PM
 
Location: On a Long Island in NY
7,794 posts, read 8,889,834 times
Reputation: 7290
Quote:
Originally Posted by Eeko156 View Post
I couldn't agree more. Many Republicans think the UE numbers are high simply because many lower wage workers don't want to return to work due to the fact that their UE is more than their pay. But the jobs just aren't there. Many businesses have closed down, and the ones that have not are not going to be in a hurry to hire at their former staff capacity when they are getting by on half that (or less). Oh, and of course, fewer people are traveling, eating out, etc. - basically, not spending as much money.
Yep

I was just reading an article about Republican opposition to additional stimulus checks and renewing the PPP and they quoted several Republican senators as outright calling laid off workers lazy and entitled. When Sen. Kenendy of Louisiana was asked if he supported another stimulus check he responded "Well people in hell want ice water too". Talk about callous
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Old 06-03-2020, 02:59 PM
 
4,557 posts, read 3,403,895 times
Reputation: 4406
When discussing unemployment, it's been mostly in the restaurant and hospitality industries. The bank I work for has seen a significant increase in EIDL funds being deposited into checking accounts. So the two industries that have been hit the hardest will not rehire a good portion of staff, while they continue to survive the ongoing pandemic with PPP and EIDL funds. That's going to be the sad reality for many individuals trying to reenter the workforce.

I don't blame any small business going after EIDL funds, since the rates are insanely competitive and their local financial institution wouldn't fund them for the same $ amount anyways (already too leveraged). The terms are very favorable for the borrower. I've seen a few customers be approved for 3.75% interest and 30 year amortizations. If you paid off a loan that originally had a 15 or 20 year amortization, you can drag that amortization back out and save a small fortune. You can weather a pretty good storm with your savings from refinancing through EIDL funds.

If you get an EIDL below $25k, you don't even have to provide collateral. Also, if you don't have enough collateral to comply with SBA guidelines, they will not decline your loan for lack of collateral (they'll take what they can as collateral).
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