SARS-2-CoV (COVID-19)

[Erik88]

15 minutes ago, MacGyver said:

Airlines are considered critical infrastructure.

Passengers aside, they’re filled with cargo.

They’re also in tenuous financial positions (as always) - so they’re probably a week or so away from needing to be bailed out. 

A lot of industries are gonna need a bailout. I just don't understand how they don't keep bigger cash reserves. Am I just not being practical? I'm so risk adverse it's hard for me to understand how leveraged these companies are. I'd be a terrible CEO.

[TGO David]

On 3/15/2020 at 7:34 AM, Erik88 said:

I don't mean this towards anyone here but I have to say it. I feel like we've entered a parallel universe when it comes to the response. My more conservative friends think this is being blown out of proportion by the media. These are the friends that would normally be in favor of self reliance and prepardness. Now they are doing nothing and largely dismissing it.

I've been really busy the last 5-6 days so I haven't been on TGO much.  That's why I am dredging up a post from  several pages back, even though it was only posted yesterday.

Anyway, I would offer a theory:  You're seeing that people don't fit neatly into the boxes that political party lines tend to draw. 

I've never been more critical of Trump than I have been lately to my friends and colleagues, and that surprised some of them.  They began to become aware of the same things you're describing, so we talked about it and I think it shocked them to realize how similar our thinking is about a lot of things when those things aren't evaluated through a purely political lens.

 

[TGO David]

10 minutes ago, Erik88 said:

A lot of industries are gonna need a bailout. I just don't understand how they don't keep bigger cash reserves. Am I just not being practical? I'm so risk adverse it's hard for me to understand how leveraged these companies are. I'd be a terrible CEO.

Analysts criticized companies for having too high of a current ratio and challenged that those who did weren't using their current assets as efficiently as they could or leveraging their short-term financing facilities.  So CFOs started letting companies run in the low 1.xx range and began carrying more debt, but that can become a perilous condition if cash flow suddenly and unpredictably begins to dry up.

Which is pretty much what I suspect we're on the verge of seeing now.

[Chucktshoes]

1 minute ago, TGO David said:

Analysts criticized companies for having too high of a current ratio and challenged that those who did weren't using their current assets as efficiently as they could or leveraging their short-term financing facilities.  So CFOs started letting companies run in the low 1.xx range and began carrying more debt, but that can become a perilous condition if cash flow suddenly and unpredictably begins to dry up.

Which is pretty much what I suspect we're on the verge of seeing now.

Our entire consumption based economy is in for a rude awakening. It’s gonna hurt, a lot. 

[TripleGGG]

2 minutes ago, Chucktshoes said:

Our entire consumption based economy is in for a rude awakening. It’s gonna hurt, a lot. 

Been saying this for a long time. 

[Grayfox54]

One only has to look at all the various topics this thread has covered to see how broadly this virus is affecting every part of our existence. Medical, business, financial and social aspects of our lives are changing  dramatically by the minute.  I sure as hell can't keep up with it all and I seriously doubt the government can either. Right or wrong, at least they are trying. Mistakes have been and will be made as this progresses. Expect that.

What we're dealing with here is a force of nature. We can't stop it any more than we could stop a flood or tornado. All we can do is ride it out as best we can and try to pick up the pieces when its over.  However, unlike a physical disaster, this thing is gonna drag on for a long time. Even if a cure were found tomorrow, it would take months to make and distribute enough of it to make a real difference. 

Most people are looking at this like it could all end tomorrow and we can go right back to our usual self absorbed lives.  I really expect this disease to screw up our lives for at least a year. So hunker down folks. We're all about to be taught some hard lessons. Pray that we learn from them. 

[tnhawk]

18 hours 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.

During the last few years I worked, I bought some silver and gold.  As I approached retirement I put my extra money in ammunition and a few more guns.

[Chucktshoes]

[TGO David]

7 minutes ago, tnhawk said:

During the last few years I worked, I bought some silver and gold.  As I approached retirement I put my extra money in ammunition and a few more guns.

Please don't take this the wrong way, but I seriously question how likely gold or silver will be as a currency if things collapse.  I honestly think a "Walking Dead" style economy based on bartering supplies and the ability to provide useful services will be more likely.  Gold and silver only have monetary value because we've assigned it to them over the centuries.  You can't eat gold or silver.

 

[FUJIMO]

2 minutes ago, TGO David said:

Please don't take this the wrong way, but I seriously question how likely gold or silver will be as a currency if things collapse.  I honestly think a "Walking Dead" style economy based on bartering supplies and the ability to provide useful services will be more likely.  Gold and silver only have monetary value because we've assigned it to them over the centuries.  You can't eat gold or silver.

 

Thanks for justifying that large purchase of Girl Scout Cookies I made recently. And here I thought I had a problem.....

[Chucktshoes]

9 minutes ago, TGO David said:

Please don't take this the wrong way, but I seriously question how likely gold or silver will be as a currency if things collapse.  I honestly think a "Walking Dead" style economy based on bartering supplies and the ability to provide useful services will be more likely.  Gold and silver only have monetary value because we've assigned it to them over the centuries.  You can't eat gold or silver.

 

I would agree with this assessment, and if you look at the gold and silver market since this thing started it seems like they would agree as well.

[AuEagle]

I'm happy to buy any gold or silver anyone doesn't want.

Edited March 17, 2020 by AuEagle

[peejman]

13 hours ago, Erik88 said:

A lot of industries are gonna need a bailout. I just don't understand how they don't keep bigger cash reserves. Am I just not being practical? I'm so risk adverse it's hard for me to understand how leveraged these companies are. I'd be a terrible CEO.

 

They have to pay taxes on cash compared to tax deductions for debt/interest payments. It takes money to make money so having a big pile of cash sitting around doing nothing doesn't bring value in the current school of business thought. I don't necessarily agree, but that's what it is. 

 

My employer told us yesterday to start sandbagging and no overtime without approval way up the chain going forward. Overtime has been all you want up to now.  1st quarter is pretty much in the bag at this point, 2nd and 3rd quarter are now in serious doubt.  It'll be a bumpy ride into 2021. 

[DaveTN]

Coronavirus Fears Fueling Spike in Sales of Guns and Ammunition

People wait in a line to enter a gun store in Culver City, Calif. on March 15, 2020. Coronavirus concerns have led to consumer panic buying of grocery staples, and now gun stores are seeing a similar run on weapons and ammunition as panic intensifies.

 Ringo H.W. Chiu—AP

https://time.com/5804562/coronavirus-fears-gun-sales/

 

 

[Erik88]

I bet they love their 10 day waiting period....I wonder how many are not even aware of that law until they hand over their credit card.

 

[TGO David]

2 hours ago, Erik88 said:

I bet they love their 10 day waiting period....I wonder how many are not even aware of that law until they hand over their credit card.

 

I hope this wakes them up an they vote some long-term parasites out of office and take back their state.

 

[E4 No More]

13 minutes ago, TGO David said:

I hope this wakes them up an they vote some long-term parasites out of office and take back their state.

 

It won't.

[Refleks]

8 hours ago, Chucktshoes said:

 

[Refleks]

IAFC briefing
 

 

Edited March 17, 2020 by Refleks

[Erik88]

No one gonna point out how fast the Republicans have gone from crying about socialism to embracing the same ideas those candidates have suggested? Trump wants to send us all $1,000 checks and wants a nearly $1T stimulus package....

We're looking at $2T deficits soon.

[gregintenn]

4 minutes ago, Erik88 said:

No one gonna point out how fast the Republicans have gone from crying about socialism to embracing the same ideas those candidates have suggested? Trump wants to send us all $1,000 checks and wants a nearly $1T stimulus package....

We're looking at $2T deficits soon.

Of course I don’t like it, but once again, what do you propose I do about it?

[FUJIMO]

8 minutes ago, Erik88 said:

No one gonna point out how fast the Republicans have gone from crying about socialism to embracing the same ideas those candidates have suggested? Trump wants to send us all $1,000 checks and wants a nearly $1T stimulus package....

We're looking at $2T deficits soon.

I'm pretty sure I couldn't be sicker about the state of things if I had the GD virus

[Erik88]

6 minutes ago, gregintenn said:

Of course I don’t like it, but once again, what do you propose I do about it?

Same thing as me I guess. Bitch about it and cash the check.   

[TripleGGG]

24 minutes ago, Erik88 said:

No one gonna point out how fast the Republicans have gone from crying about socialism to embracing the same ideas those candidates have suggested? Trump wants to send us all $1,000 checks and wants a nearly $1T stimulus package....

We're looking at $2T deficits soon.

No I don't agree with it. Already sent letters to my reps saying so. Does nothing to stimulate the economy IMHO. 

[Erik88]

13 minutes ago, TripleGGG said:

No I don't agree with it. Already sent letters to my reps saying so. Does nothing to stimulate the economy IMHO. 

If my memory is right, it didn't work when they tried it back in 08-09. I think I got a check for $400. Most people just kept it instead of spending it.