Syrmax

Was some of that the "recount" in NYC area? I just scanned the headline but I caught where a bunch of deaths were restated as Covid-19. Just wondering.

Is this real? What shite for April 17.

This better be a hot AF Summer to boil off all the virus before winter! Otherwise, i'll be installing a heater of some sort for my pool as i'm NOT doing a Summer Clampdown with a cold pool. First World problems.

That could be correct in some form, depending on the progress of treatments and a vaccine. I'm 100% certain there will be increased focus on cleanliness and staying home when sick etc. We still don't know what the true infection rate is, therefore we are still flying blind on Case Fatality Rates and so much more. We need more testing ASAP including antibody testing. Noone can properly assess risk with limited or no data...and that's basically where we are at. In 1918/19 the world was a different place...

I do agree that internet / electronic options have made certain work functions more efficient and productive. As an engineer I can attest to this. However, I lived through the 1970s, 80s and yes, TV's are nicer today and relatively less costly but that's qualitative...not real standard of living...which amounts to having disposable income. Everyone lives the sort of life they want differently. If you want to measure "living standards" and inflation by the way the BLS or Fed does (using hedonic adjustments and substitution methods), then fine, its an arguable point. You are also correct about mortgages. However, as we know, that's due to the artificial influences of the Federal Reserve Bank pinning interest rates low - and now essentially buying up the Bond market. If rates normalied as in a capitalist economic system, to say 7%, say goodbye to the auto industry and R/E. Noone is buying those at 7% at todays prices, while making 1990s level relative income. In essense, the whole thing has become an artificial construct.

You are right about that point IMO but...the real problem is the income disparity that has developed. The 1%, or 0.1%, whomever one wishes to pick on, do spend different but the problem is that wages have not kept pace with inflation and taxation increases for the rest of us. You could confiscate the wealth of the 1% and distribute it to "the masses" and the inflation effect would be trivial compared to what the Congress and Fed are doing now. The Fed just created $2.6T in money supply out of thin air. Between that, what Congress has authorized and other Fed actions, we are talking several Trillion in money supply expansion. People can't even get their brains around the size of a trillion dollars (hint: its a stack of $1,000 bills stacked face to face for about 150 miles - or like driving from Central Park NY to Trention NJ). Now that is inflationary. Which is why 25% of my trading account is in Gold and Gold Stocks. It got hit early on due to margin calls but it's predictably taking off now.

Given that pandemics like this appear to be once in 100 year type events, not sure that the "mothballed" preparedness is entirely workable but some parts of it might be. I'm going to guess that some PPE has a "shelf life" associated with it (hell my hardhat does - which seems a bit absurd). You can't have special buildings set aside for this either...they need constant maintenance and such or turn into moldy death traps. I think what this event has exposed is that noone was really prepared mentally or with a real plan, as to what to do. Hence, panic, when a bunch of academics show up with what appear to be overly pessimistic models and leaders are left with little choice but to overreact, in part out of genuine concern and in part due to not wanting to be accused of "killing people"...by the usual suspects. There have been no shortage of think tanks and studies that have been warning of our unpreparedness but none of that registered with the public or decision makers.

What studies is that based on? Or were you just be imprecise? I agree that antibody testing needs to be rolled out. But that's a pipe dream when we still have to ration actual virus tests...

Throw a few Trillion at the market and algo's buy. I think it may be that simple. The Fed has created $ out of thin air to cover a lot of losses...(not individuals though...we get capitalism...big players get socialism when they implode). I do think that the markets will have a reality check though as Quarterly earning start rolling in - and esp next Quarter. You can bake in some of it in terms of reduced expectations but some of what we are going to see is going to be staggering. At some point we will probably challenge the recent lows, IMO.

Productivity growth is an esoteric measure if one is talking about "standard of living". The fact that I am more productive at work doesn't mean jack squat once i leave work. Nothing has really changed since the 1980s, if you are talking about standard of living. The only thing that's really changed is the advent of communication technologies and certain medical advances. There are no shortage of studies showing that the "average" US citizen's wagegrowth has been stagnant for the past 20-30 years, in real terms. From a day to day standpoint...speaking for myself...what has really changed since the 80s? There's the internet and online streaming services, which are mostly just a different way to waste time than staring at the TV. (To be fair, internet capability has increased "productivity" because we are now available to "work" 24/7...at the same relative pay...and we can search/shop for things online). Certainly, cars are nicer and those of us that want them, have smartphones. Houses aren't really nicer. Electronics are more capable, I can program my home's thermostat or coffee maker - whoopie - but I don't really count that as standard of living. Some of our "advances" are actually a net drag given the costs, more of an elective convenience that we survived without quite nicely in the 1990s and prior.

Damn i missed that. That sounds bizarre. I'll have to youtube it. But, he's right about January. Noone would shutdown the country with no cases. Nobody that's sane anyway. And he was MF'd for mostly closing off China travel in late Jan by the Dems and press (he's right about that - which the press can't stand). However, after that... Rumplestilskin slept, more or less while CDC failed wide open. These reporters though... are like DNC mouthpieces. Both are embarrassments... And oh yeah, Obama's fault. LOL. What's next? Benghazi??

i got a text from 2 ppl saying Trump is melting down. I had to turn it on. What an deranged clown. At least Sleepy Joe would lie with a smile on his face.

i usually do just for morbid curiousity but i just made some pork chops with applesauce. I'd prefer to enjoy that instead of getting indigestion...

Interesting...been hearing same from non-bank employees. As far as unemployment comp, they could have done what Canada apparently did, just send out $2000 checks to everyone. Simple, fast, effective. Here, we tasked the IRS and other gov't entities that are swamped and don't have enough people, with administering these checks. Its too complex.

Anyone notice how complicated and slow of a process it is to dish out SBA loans to small/midsize businesses and get checks to people....while it takes a few clicks of the mouse for the Fed to make Wall St bagholders whole? Same ol' sh!t as 2008. This is part what happens when 400 of 535 elected reps in DC are lawyers. And BTW...the Federal Reserve has been authorized to dish out $2.3T (yes, Trillion) in various financial rescue operations....wait for it...with NO OVERSIGHT! This should be fun to follow.

Took CDC months to "announce" that wearing a mask just might be effective even if your not sick. Which 4th graders knew intrinsically. Now CDC wants us all acting like we are entering/exiting a Level 4 Virology lab. This is after the CDC home-brewed test failure fiasco. If Rumplestilskin wanted to fire anyone, seems like some fertile ground there...its not like they can be that much more f*cked up...

Embarassing. For us.

That has nothing to do with our election system that is wagging the dog.

Agree, the current system is based on the old days, where travel and technology, communication, was more limited, even horse and buggy. A campaign closer to what parliamentary systems have, like the UK, would be better. Of course, the current system mainly benefits 2 groups, the two major political parties...and the media...who reap a lot of sales through ad spending. Endless campaigns keep the media spotlight on true political nonsense instead of anything of substance. Edit: of course I forgot to mention the other main beneficiary of the current campaign system...Special Interest Groups and the like. Although they would never be substantially relegated unless you went to full public campaign financing.

Ending Bailouts for billionaires and Hedge funds, along with companies that are in over their heads with debt due to ill advised borrowing to do stock buybacks might be a reasonable place to start...

That's the graph that I was thinking of. Depicts the differences perfectly.

It's a temporary blip (hopefully) but...what the "virus deniers" erroneously try to compare are total covid-19 deaths to seasonal flu. These are all happening in a matter of weeks, with protective measures largely in place whereas seasonal flu death numbers are spread out over a year, with virtually no distancing measures in place.

That's a tough one without knowing what else really happened. I suspect that he wasn't getting any sense of urgency from CINCPACFLT and the chain of command above that, as the situation was rapidly worsening. I dont know who was on email distribution but apparently it wasn't the Chain of Command as you wouldn't write an email like that to them... Based on what I know, I think he should have been reprimanded in private but not sacked, which seems to be by the sole decision by the NAVSEC. Some of what Modly said on the 1MC was fine and aggressive. I have no problem with that. What I really really objected to was Modly going out to CVN-71 and dressing down the crew, trying to scold and guilt them, and insulting the Captain. It should have been a very different speech, instead it sounded like an azzhole being an azzhole. That was unacceptable and he rightly resigned. I've been dressed down as part of a submarine crew by our CO but it was pretty much deserved. But we weren't insulted. That's sh!t leadership.

I thought Chamath's position was a refreshing one. A billionaire refusing to allow CNBC mouthpiece parrot the usual line about bailing out billionaires...Wapner acted like his buddies he interviews would he homeless on the Bowery. What a tool.

Interesting Exchange between CNBC flunkie Scott Wapner and Venture Capitalist Chamath Palihapitiya that is well worth watching. Love this guy, he is spot on and stuck it up Wapner's azz. Venture capitalist Chamath Palihapitiya stunned CNBC anchor Scott Wapner and generated widespread applause on social media by declaring in a television interview Thursday that the U.S. government should let hedge funds and billionaire CEOs “get wiped out” by the coronavirus-induced economic collapse and instead focus its attention on rescuing Main Street.