Quote:
Originally Posted by sebastian_dangerfield
But as I said, three more months of this and you and I will be kicking ourselves for paying anything on homes that won’t be worth much without gun turrets on the roof. This goes bad a lot faster than anyone thinks. Fed can’t fix this one. No money cannon can do it. It has to be fixed with a coherent plan for incremental re-opening of the economy. This befuddled administration cannot do that. And lunatics saying we need to stay on lockdown until August help nothing.
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I just don't get the market, unless as you have suggested, it is Wall Street (and Trump, Fox, MSNBC, etc.) propping up equities so that they can get out and leave Main Street holding the bag.
Even with a Mid-May return, that will have been two months of this. Q1 will show a little bit of it, but Q2 is going to be devastating, and this is not going to return to "normal" anytime soon. I don't trust this group, but their study - if true - (after only 3 weeks here in CA and 1 week in most of the country, and 5 more weeks to come) should be fucking frightening to the market, way beyond this mere 20% drop from the tippiest of tops (that many thought was already overbought). This has to be illusory and temporary.
http://filesforprogress.org/memos/th...oronavirus.pdf
You call it a money gun, but it is all borrowed/funny money. I may have to wait out Trump trying to have the Fed and Congress do enought to fool the electorate into getting him re-elected, but this shock (and longer term impact) to the economy has to be a chicken that comes home to roost. Too bad so-called capitalists in our government will not let investors in companies that made bad choices fail.
