southsider2k5

During this crisis bitcoin went from about 10,000 to under 5,000 at its low. It has bounced back a bit, but is still down 40% from where it was four weeks ago. Two weeks ago it was 9000. I did notice you switched from the dollar to the stock market, but have you seen the rally in the dollar at this time? You do understand that bitcoin is down more than the stock market during this time? In terms of confidence, the dollar is still leading the world. Stocks are down, gold is down, and bitcoin is leading the losses.

Except bitcoin fell by 50% after all of this got going.

At this stage all you can do is look at the trends from the countries which were hit early and try to adjust based on that.

This. Literally everything except food is a fiat currency. They all have value because people assign it a relative value, and that value has an exchange place. SO many people since Nixon have pretended that gold is some magical substance that has an inherent value, but is no different than any other asset.

If you were on to something here, the price of gold would reflect it. We are in an extreme deflationary cycle right now.

Just yesterday the restaurant industry predicted losses of $225 billion and the loss of 5 to 7 million jobs in the next 3 months. The Hotel lobby is predicting 4 million job losses. We haven't even gotten to retail, travel, or entertainment, or any of the job losses that will result from initial job losses. The initial filing numbers have exploded already. I said 10%, but I might even be a bit light. We are looking at a 10 to 15% contraction in GDP when all is said and done. With the deflationary cycle we are seeing, on top of the job losses and market crash, the initial stages of this look more like 1929 than 2008.

Your ignorance does not excuse the ignorance of others, or vice versa. If you want to live life with your head firmly planted where the sun doesn't shine, that is your prerogative, but don't come here expecting sympathy or praise for that ignorance. I feel like I am talking to my 12 year old, but take responsibility for your own actions and quit looking to justify them by the stupidity of others, unless you want to live life as a lowest common denominator.

I just hope you don't kill anyone else for an overpriced coffee.

We will be at 10% instantly.

Also, the Dow is actually negative for the Trump adminstration.

I feel for the guy. Baseball has been his life probably as long as he can remember, and now that is threatened at an age where what to do without baseball hasn't even been a thought. Hopefully he takes care of himself at the very least.

Prime rate is around 3% now, so if you qualify that is a pretty decent savings. What you have to ask yourself is the extra closing costs you would add in cover what you would save in interest over those 3 or 4 years. Also, I would be 100% sure that your job will exist when all of this is done down the road.

Don't forget this would be gone by April.

Next up, the Bilderbergs

I would settle for restricting stock buybacks for a period of time.

Markets hate uncertainty, and that is all we have gotten. A big part of that is leadership hasn't taken a clear and consistent road on how they were going to attack this. One day it is the scene in Animal House where he is screaming "Relax, all is well!", and then the next he is talking about quarantine until August. Even if they took the lane of worst case scenario, the pain would at least get factored into the markets and pass. But we don't have leadership.

We are currently down 32% from the highs. 41% would be another 2750 points down.

Retail and travel have to top the list.

At this stage I fully believe we are going to see a 10 to 15 percent contraction.

No one blames him for the pandemic. People blame him for the RESPONSE to the pandemic, which is quite literally his job as leader of the free world. He didn't take it seriously until he ran him over.

Meanwhile the clown in the White House was telling us it was a Democratic hoax, and that it would go away in April when it got warm outside. It is impressive how the Dems could simultaneously do nothing and create a panic all at once. Those guys are talented. I am also a big fan of you telling people not to blame others, while filling a post full of blame for everyone but the leader of the free world. But then again he told you guys he takes no responsibility for it, so you all march off to do his bidding for him.

Let me guess, you are one of the clowns sharing the Obama H1N1 thing because it has to be his fault?

Every single time he has talked during this crisis, the market has shit itself. We lost 1000 points today while he was talking. If that isn't a statement of what the markets think of his plans, I don't know what is.

Up to there was fully correct.