SARS-2-CoV (COVID-19)

[Erik88]

40 minutes ago, hughd said:

And I'm starting to see prices drop.

We were days away from listing our house. Now I have no idea what to do. So much uncertainty.

[Chucktshoes]

CDC just recommended cancelling any gathering of 50 people or more scheduled for the next 8 weeks. 

[btq96r]

I think we've all seen the medical stories coming out of Italy, and they're bad.  Life is probably as interrupted there as it has been since WWII.  For those who are into the ripples that could hit our markets, check this out and use the "we're 1-1.5 weeks behind Italy" logic to see what may still be headed our way financially.

https://tradingeconomics.com/italy/stock-market

[Erik88]

Wow. Trading halted immediately after opening. Today could be a bloodbath. I don't know as much about fiscal policy as many here but it seems whatever the fed hoped to accomplish yesterday had the opposite impact on the market. The Fed was getting roasted online. They essentially emptied the cannons only 2 weeks into this crisis. What the hell will they do a month from now? 

 

[Snaveba]

I think they were “pushed” into doing something like that by a power person who has NO CLUE as to how fiscal policy works and is only concerned with how he looks to the world. 

[FUJIMO]

26 minutes ago, Erik88 said:

Wow. Trading halted immediately after opening. Today could be a bloodbath. I don't know as much about fiscal policy as many here but it seems whatever the fed hoped to accomplish yesterday had the opposite impact on the market. The Fed was getting roasted online. They essentially emptied the cannons only 2 weeks into this crisis. What the hell will they do a month from now? 

 

This was my fear from the moment they announced it. I'm not an economics major but my thought on it was they are trying to get ahead of the inevitable recession that's coming due to the "pandemic". MSM won't shut up about it and even Trump has blabbed something about 0% to negative interest rates from the fed. It's hard to watch and listen to this without thinking there's a lot of economic experts out there all of a sudden thats causing people panic on several levels. How do we got get a loan for a house when we've been told to self quarantine for 8 weeks ? LOL

[MacGyver]

I don’t know what the reverse of a tidal wave is - but that’s what we’re seeing in data coming out of China right now. And they’re not done yet.

I was surprised yet to see the Fed move that aggressively - but we’ve not seen data like this before.  They’re trying to keep the credit markets open.

Because we learned in ‘08 that credit markets are open - until they’re not. And that’s a giant problem for businesses that are leveraged as they are here in the US. 

[Magiccarpetrides]

A lot of smaller businesses are going to be on life support or bankrupted by this.  If I wasn't already tied up in the market I would definitely be buying (and probably be kicking myself daily for not waiting cause I will be the first to admit my timing is never right) but eventually like we saw in 08...all these low low prices are gonna look like steals and we will regret not using this opportunity for long term investment.  So i'll keep making my monthly contributions and probably picking up the larger companies that powered through the last crash such as amazon, Walmart, Microsoft, etc...

Im seriously glad our car lot isn't on a line of credit anymore....we learned our lesson from 08 when the bank told us we had 60 days to pay off $600,000.

Edited March 16, 2020 by Magiccarpetrides
spelling

[DaveTN]

2 hours ago, Snaveba said:

I think they were “pushed” into doing something like that by a power person who has NO CLUE as to how fiscal policy works and is only concerned with how he looks to the world. 

I think it was made abundantly clear before coronavirus that Jerome Powell doesn’t answer to Trump. If someone at the FED is clueless; that could only be Powell. I’m not saying what he did is a bad thing; I’m clueless on that. I’m saying Trump already went toe to toe with him and Powell stood his ground.

[gregintenn]

As I look around today, it appears insanity is in full bloom here in Middle Tennessee.

[tnhawk]

On 3/10/2020 at 5:41 PM, Dirtshooter said:

I think the media is trying to create a frenzy that could upset folks going to the polls in November. And no I don't wear or have a tinfoil hat. There are 30,000-45,000 people that die every year of the flu and you don't hear CNN say much about it. There is plenty of toilet tissue to go around if people wouldn't buy 2 years worth at a time. This reminds me of the .22LR "shortage" we had. I would love to know how many billion or more rounds aren't setting in the bottom of a lot of gun safes that will never be shot. But they got em!! I saw a figure and don't know if it was true saying that ammo sales had went thru the roof since the virus got bigger. Are some guys going to shoot the virus?? The figure for .40 cal was something like 470% increase. Oh well lets see what the media can stir up tomorrow. Boy Howdy!!

Why the frenzy to hoard toilet paper?  When was it reported this virus causes diarrahea?

[Chucktshoes]

Just now, tnhawk said:

Why the frenzy to hoard toilet paper?  When was it reported this virus causes diarrahea?

I believe it actually all started when the factories in China started shutting down. There was a rumor that went around that most of the toilet paper in this country was made in China. Folks started buying extra, and well, lemmings gotta lemming.

[GlockSpock]

17 minutes ago, tnhawk said:

Why the frenzy to hoard toilet paper?  When was it reported this virus causes diarrahea?

Actually, it causes diarrhea in approximately 10% of cases. 

[E4 No More]

Next thing you know there'll be a run on bidets. 

Edited March 16, 2020 by E4 No More
Typo fixed

[MacGyver]

3 minutes ago, E4 No More said:

Next think you know there'll be a run on bidets. 

Too late.

[gregintenn]

28 minutes ago, tnhawk said:

Why the frenzy to hoard toilet paper?  When was it reported this virus causes diarrahea?

Because every time someone coughs, 100 people poop their pants.

[gregintenn]

Precious metal prices have tanked!

I did not see that coming.

[DaveTN]

I pulled a few guns off here because apparently my prices were too high, maybe it’s time to relist them??

Is there a gun buying frenzy yet?

[MacGyver]

6 minutes ago, gregintenn said:

Precious metal prices have tanked!

I did not see that coming.

That’s because precious metals that aren’t a part of a larger, well balanced portfolio has always been a kind of dumb investment.

Its not to say there’s not a place for them - but they’re not going to perform as some sort of panacea when everything else heads south. 

[felinesNfreedom]

20 minutes ago, DaveTN said:

I pulled a few guns off here because apparently my prices were too high, maybe it’s time to relist them??

Is there a gun buying frenzy yet?

Yes.

People are buying guns left and right. We sold out of all common ammo by saturday around 3pm. Most popular guns are gone, minus black rifles. Everyone was buying shotguns and handguns friday and saturday. We sold 94 guns between the two days, not one black rifle.  #buyashotgun

[felinesNfreedom]

28 minutes ago, gregintenn said:

Precious metal prices have tanked!

I did not see that coming.

I've been buying gold and silver with the prices being down so much. I figure If things get bad I think it will hold some value compared to a piece of paper. Not really investing in it just want some around the house.

[TripleGGG]

1 hour ago, gregintenn said:

As I look around today, it appears insanity is in full bloom here in Middle Tennessee.

I think it's actually already bloomed, seeded out, resprouted and spreading! 

[Magiccarpetrides]

12 minutes ago, felinesNfreedom said:

I've been buying gold and silver with the prices being down so much. I figure If things get bad I think it will hold some value compared to a piece of paper. Not really investing in it just want some around the house.

I think this market has made it abundantly clear there are NO safe havens in a panic.  Cash is the best safe haven and if you don't believe in cash then just stock up on dried food and canned goods if that's your actual belief.  Course if you think that way you probably don't invest.

[Chucktshoes]

PSA: remember folks, the word is "martial." Martial law. It's not named after one guy.

[Snaveba]

28 minutes ago, felinesNfreedom said:

Yes.

People are buying guns left and right. We sold out of all common ammo by saturday around 3pm. Most popular guns are gone, minus black rifles. Everyone was buying shotguns and handguns friday and saturday. We sold 94 guns between the two days, not one black rifle.  #buyashotgun

Glad I ordered 1000 rounds on Saturday, and confirmed the order today. That and had my pistol buying binge the last 3 months.