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The Tremor before the Storm?

I'm, torn, I know that the worse it gets, the better the chance to get rid of our tangerine nightmare, but the worse it gets, the more money I lose.
 
To the end of February, I am apparently only 26K poorer.

But that is before the deluge.

I suspect that by the time I get this months statement...all the gains of the last 8 years will be wiped away.
 
I know how that sucks ass. I keep telling myself that retirement is a good 20 years or more off, and things will rebound. It's probably true, but right now it's hard to be positive.
 
Very uncertain times with the stock market riding up and down. At the very least, a recession is possible. At the very worse, a depression. At this point, I do not think a depression is likely, but never say never. I never thought we would have a pandemic, but here we are.
 
eddielee said:
Very uncertain times with the stock market riding up and down. At the very least, a recession is possible. At the very worse, a depression. At this point, I do not think a depression is likely, but never say never. I never thought we would have a pandemic, but here we are.
Click to expand...

A recession is certain at this point. You just can't have this many people out of the economy, this many businesses shuttered - a huge proportion of them service - which is the biggest part of our economy; overseas trade curtailed and plagued by supply and transport problems; which means decreased supply plus decreased demand, meaning even fewer jobs - for an indefinite period without your economy contracting.

I'm afraid the question is not if, but how long, and if our political leaders are fucking incompetant assholes we very well could slide into extended periods of contraction, falling demand, rising unemployment, business closures, default, and reduced trade; which is the textbook definition of Depression.

Remember also that all that cash that's about to be thrown at the problem is borrowed money. We can't pay for the Great 'Pubby bribe anyway, now we have to shoulder the debt for this massive fucking bailout. Where is the money just to service that huge debt to come from?

There's only one place it can come from, higher taxes. FDR Taxed the fuck out of the Rich because he had to, you think Trump is going to do that? You think they'll let him?
 
All of which is to say we need super-majorities in the Senate, the House, and the in the Oval Office, that can accomplish what needs to be done as well as impeach obstructionists in the judiciary.

I have this wild fantasy of seeing Majority Leader Schumer call the vote guilty in the removal of the rapist on the SC. I get a chubby.
 
Headlines.

Record 20.5 million American jobs lost in April. Unemployment rate soars to 14.7%
Covid-19 could kill an extra 75,000 Americans through "deaths of despair"
Millions of laid-off Americans didn’t actively search for new jobs in April, so they weren’t included in the official unemployment statistics.
Trump's push to reopen the economy comes as hope for a quick recovery fades

None of this is good news - But YET:

Dow climbs after devastating jobs report: May 8, 2020

The Stock Market makes NO SENSE!
 
Who would have guessed, last autumn, that the announcement of some vaccine by Pfizer could work as an improved version of their Viagra.

wood.PNG
 
cityboy-stl said:
Headlines.

Record 20.5 million American jobs lost in April. Unemployment rate soars to 14.7%
Covid-19 could kill an extra 75,000 Americans through "deaths of despair"
Millions of laid-off Americans didn’t actively search for new jobs in April, so they weren’t included in the official unemployment statistics.
Trump's push to reopen the economy comes as hope for a quick recovery fades

None of this is good news - But YET:

Dow climbs after devastating jobs report: May 8, 2020

The Stock Market makes NO SENSE!
Click to expand...

It does. Only, lke with so many things in life, and with life itself in general, not the one you might expect.
 
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