the economy

[roguetoaster]

The US politicians have signed the coronavirus package.
The amount is $2.2 trillion.
The population of the USA is 327 million.

I did the math:
$2200000000000/327000000=$6727

Each American is supposed to get $6,727, but she is getting only a $1,200 check. Where is the remaining 83% or $5,500?

Are you new here or what? That money is allocated for "things," now don't ask any more questions as that wouldn't be "nice."

[Vincenze]

The US politicians have signed the coronavirus package.
The amount is $2.2 trillion.
The population of the USA is 327 million.

I did the math:
$2200000000000/327000000=$6727

Each American is supposed to get $6,727, but she is getting only a $1,200 check. Where is the remaining 83% or $5,500?

[z31maniac]

I've been working from home for 2 weeks now. And will be into the foreseeable future. We already try to be mindful in public about hygiene because my lady is immuno compromised and on the drugs for it.

My boss told me earlier he's not going to be ready to go into the office until cases in Oklahoma have dropped back down to 0. So we could be working from home for months.

Which is fine with me, I already work from home 2-3 days per, so my office setup is much nicer than in the office. But today is one of the first days without rain for awhile so we've been getting a bit stir crazy.

[2mAn]

Our company has everyone working from home so job-wise were fine. Im pretty bummed I didnt see the writing on the wall of what this was going to do to the stock market and my 401k has shrunk quite a bit so at this point Im just riding it out.

[ZeKahr]

Sort of just chilling. Current company hasn’t axed me (yet), but if they do I’ll just treat the next 6 months of this whole panic as a vacation. I’m working as a web dev contractor in the insurance industry so chances of being laid off are lower than other professions/industries that are either more closely tied to the whole virus thing or are more heavily vested in the stock market but not totally bulletproof. That said, I’ve prepped for the worst case scenario and have a decent amount of cash savings built up. Stock market is looking like a nice big juicy steak as of now with all of the depreciated stocks - normally something I don’t pay attention to. Live with my parents; I could get my own place if I wanted, but don’t want to throw my money into housing bills. Dad’s company is letting him go soon and he keeps turning to me for job seeking advice, given that I make almost as much as him at only half his age.

[phillipj]

So... How are you personally doing? How are you faring? During the 2008 downturn we were losing 200,000 jobs every week. Now, it's several million jobs every subsequent week.

My current job got put on hold. The other ones I was looking at are on total pause. My close friends, I'd say 3 out of 4 are laid off. Is this the same for you? What's your situation?

[z31maniac]

Caterpillar's earnings usually tell us where the economy’s headed. They posted yesterday.
CEO Jim Umpleby said: "In the fourth quarter, we now expect end-user demand to be flat and dealers to make further inventory reductions due to global economic uncertainty."

I'm so glad I'm out of manufacturing now. I don't suspect my particular GBU will have any issues past slowed down hiring or a hiring freeze, during a downturn, unless it's of historic proportions again. Which I don't think it will be.

[phillipj]

Caterpillar's earnings usually tell us where the economy’s headed. They posted yesterday.
CEO Jim Umpleby said: "In the fourth quarter, we now expect end-user demand to be flat and dealers to make further inventory reductions due to global economic uncertainty."

[phillipj]

Conspiracy time, the traders are looking to put negative pressure on stock prices, so they can profit buying low and riding the recovery.

That's put forth by Economists, not traders.

'Status quo' for America is in full effect, Trump just took off the mask.

[mrsleeve]

Conspiracy time, the traders are looking to put negative pressure on stock prices, so they can profit buying low and riding the recovery.

Conspiracy time alternate..... Constant economic sky is falling prognostication from seeming legitimate sources, to put negative pressure on everything from stocks to real estate to real employment as to wipe out all gains of the last 3 years, just prior to the next election cycle to end any and all chance at 4 more years of Orange man bad, and thus allow the status quo to resume with fanfare......

Shit where did I leave my tin hat??????

[z31maniac]

Latest Uncertainty Index per today's WSJ:

• Hit its highest level on record in August. Turns out, we’re more uncertain now than after 9/11, the European debt crisis and Trump’s election in 2016.
• Another uncertainty index on trade policy averaged a level of 2 between 1996 and 2018. This year it’s close to 100.

Conspiracy time, the traders are looking to put negative pressure on stock prices, so they can profit buying low and riding the recovery.

[phillipj]

Latest Uncertainty Index per today's WSJ:

• Hit its highest level on record in August. Turns out, we’re more uncertain now than after 9/11, the European debt crisis and Trump’s election in 2016.
• Another uncertainty index on trade policy averaged a level of 2 between 1996 and 2018. This year it’s close to 100.

[ButtJuice]

Mortgage rates are extremely low as of right now, if anyone in the market is looking for the r3v hook up PM me.

[phillipj]

It was a joke, convenient timing and all that. Agree that we should try to look back on the recent and distant past in as unbiased a way as possible to inform our current actions.

Gotcha, hard to gauge Sarcasm on here!

[roguetoaster]

No, not really, but sure it is definitely true that Partisans will blame anything and everything on the other side.

We should be continuously analyzing and learning from history instead of trying to spin it to the political narrative of immediate convenience.

It was a joke, convenient timing and all that. Agree that we should try to look back on the recent and distant past in as unbiased a way as possible to inform our current actions.