+- +-

+-User

Welcome, Guest.
Please login or register.
 
 
 
Forgot your password?

+-Stats ezBlock

Members
Total Members: 52
Latest: Carnesia
New This Month: 0
New This Week: 0
New Today: 0
Stats
Total Posts: 16222
Total Topics: 264
Most Online Today: 5
Most Online Ever: 201
(December 08, 2019, 11:34:38 pm)
Users Online
Members: 0
Guests: 1
Total: 1

Author Topic: Money  (Read 22603 times)

0 Members and 0 Guests are viewing this topic.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Dow DROPS over 1000 POINTS!
« Reply #735 on: February 24, 2020, 04:13:03 pm »

https://finviz.com/

Stocks Plummet Over Fear of Coronavirus 943 views•Streamed live 3 hours ago


NowThis News
516K subscribers

STOCKS PLUNGING OVER CORONAVIRUS: Stocks have dropped steeply around the globe as coronavirus fears grow. Infections are surging in South Korea, which has declared its highest emergency alert, and in Italy, which has locked down an area of 50,000 people near Milan. Stock markets across Asia and Europe were all down Monday. A main U.S. stock benchmark, the S&P 500, neared its biggest drop since August, and the Dow Jones Industrial Average fell so low it 'may erase its gains from the year,' Bloomberg News reported.

» Subscribe to NowThis: http://go.nowth.is/News_Subscribe
» Sign up for our newsletter KnowThis to get the biggest stories of the day delivered straight to your inbox: https://go.nowth.is/KnowThis

#StockMarket #Coronavirus #DowJones #News #NowThis #NowThisNews

Connect with NowThis
» Like us on Facebook: http://go.nowth.is/News_Facebook
» Tweet us on Twitter: http://go.nowth.is/News_Twitter
» Follow us on Instagram: http://go.nowth.is/News_Instagram
» Find us on Snapchat Discover: http://go.nowth.is/News_Snapchat

NowThis is your premier news outlet providing you with all the videos you need to stay up to date on all the latest in trending news. From entertainment to politics, to viral videos and breaking news stories, we’re delivering all you need to know straight to your social feeds. We live where you live.

http://www.youtube.com/nowthisnews
@nowthisnews
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution

Stocks Plunge (or Dip?), Traders Confused: This Wasn’t Supposed to Happen. Complacency Exacts its Toll
by Wolf Richter • Feb 24, 2020 • 84 Comments

The coronavirus is just the latest in a long series of issues successfully brushed off as irrelevant because all that mattered was that stocks went up.

By Wolf Richter for WOLF STREET.

“Complacency” – brushing off big issues as irrelevant or nonexistent because they don’t fit into the buy-buy-buy scenario – has a way of serving up a surprise tab just when the party is hopping at its wildest.

Today, we’re seeing a little of it. Already on Friday, some fallout had hit stocks, following a mild down-day on Thursday. As of early afternoon today, over those three days, the S&P 500 index has dropped 4.8% and the Nasdaq 5.8%.

It’s as if it had suddenly dawned on the hyper-inflated stock market that it is in fact hyper-inflated, and that there are in fact big issues out there that had been known about for many weeks, and some of them for months or even years, but that had been successfully brushed off as irrelevant and had been successfully banished as nonexistent.

Nothing mattered because stocks kept surging higher. Despite the freight recession that spread across 2019 and is still getting worse, with shipments plunging at the fastest rate since 2009, and with railroads laying off people massively amid dropping revenues and plunging earnings, Union Pacific’s shares, upon the news, hit a new high. These issues predated the coronavirus.

The auto industry in the US has seen declining sales volume, as measured in number of vehicles delivered, since 2016. This is a huge industry. But no big deal. In the largest market in the US, in California, new-vehicle registrations have dropped 5.5% in 2019, bringing the drop since 2016 to 9.5%. Across the US, new vehicles sales have also fallen for the third year in a row, to below year 2000 levels.

Subprime delinquency rates have exploded in auto loans and credit card loans starting two years ago, and now subprime credit-card delinquency rates spiked to an all-time high, and subprime auto-loan delinquency rates spiked to the highest since the peak of the Financial Crisis.

These developments are not new; they just reached a new high. But the market decided that they didn’t matter, that nothing  🙈🙉🙊🐵 mattered.

The entire US shale-oil-and-gas sector has been getting crushed ;D again, but no problem. Manufacturing output has been declining for most of last year. But no problem.

Brick-and-mortar retail – particularly “mall stores” such as department stores – has been getting wiped out store by store, chain by chain, this time not by problems in the economy but by a structural shift in how Americans shop by switching to ecommerce, which is booming. Thousands of big stores are getting shuttered every year, with big chains, such as Sears Holdings, getting liquidated, along with innumerable smaller ones. But no problem.

Mall properties have declined in value, but not by much, and most mall REITs hung in there, as investors figured that this whole concept of the brick-and-mortar meltdown was overblown and that it would somehow go away.

Sector after sector has run into problems over the past few years, but it didn’t matter because stocks would just go up and up and up, and so who cares if these companies lose money forever, or burn cash forever or are outright doomed. So long as stocks go up….

Now comes the coronavirus outbreak. It’s just the latest issue. It’s a big issue for Corporate America, and it’s a horrible issue for China. This became clear in January. But US stock indices kept wobbling to new highs while the economic and business issues caused by the de-facto economic shutdown of much of China were just blown off as irrelevant because they didn’t matter as long as stocks go up.

Apple reached a new high in mid-February despite the clearer-than-daylight problems in China, with demand for iPhones in China collapsing, with Apple stores closed, with iPhone factories in China shut down. It just didn’t matter — until February 17, when Apple announced what everyone knew already, but had blissfully brushed off: That it had huge problems in China, and that both, demand for iPhones and its supply chain of iPhones in China had collapsed. Since the February 12 high, shares have dropped only 8.6%, including today’s 4.4% drop (as of early afternoon).

And then suddenly it matters at least a little bit, as complacency turns into confusion among stock jockeys. This wasn’t supposed to happen. Stocks were guaranteed to only rise. That was the deal. Nothing else mattered. And they’re frazzled. How come all this crap suddenly matters? How can Tesla’s ludicrously-priced stock suddenly drop 7.5% out of the blue?

The whole auto sector is getting crushed – component makers and automaker. Here are some samples, as of miday: GM (-5%), Ford  (-3.6%), Honda (-3.9%), Toyota (-3.4%), Delphi Technologies, the former component maker of GM (-3.9%), Visteon, former component maker of Ford (-6.5%), American Axle (-5.8%), Lear Corp (-5.3%), Veoneer, maker of automotive safety and electronic components (-7.4%), Adient, maker of seating and other automotive components (-4.8%), Cooper-Standard Holdings (-3.1%), Modine (-5.5%)….

Auto sales in China, the world’s largest market, have come to a near-standstill due to the coronavirus, after having already plunged 13% in 2018 and 2019 combined. GM sells more vehicles in China than in the US. China is also the manufacturing hub for components used by assembly plants globally. And those components are not being manufactured because the factories have been shut down. This has been known since January.

But it didn’t matter because nothing mattered because stocks always go up. Until they don’t. The sudden turnaround of the stock market is confusing our coddled traders. How could this happen? Didn’t the Fed guarantee that stocks would never fall?

Then there’s QE-4, that $400 billion in liquidity that the Fed threw at the market between mid-September and the end of December. The market kept hyping the certainty that it would last forever. But it suddenly stopped at the end of December. And the Fed’s balance sheet has been essentially flat since then, turning from Big-Fat QE into No-QE:


And that shift from Big-Fat QE to No-QE too has been known since January 1 because the Fed posts these numbers daily and weekly, and I report on it regularly, but the market just brushed them off, preferring to believe the misbegotten stories in the financial media about endless trillions of dollars still being created in repo liquidity.

So here we are. The drop in the market is still just a dip in the overall scheme of things. But the evil smell of reality has caused the market to puke today. That doesn’t mean that a new bout of complacency won’t set in. It’s always surprising to rational observers how long and to what ludicrous extent this complacency can be driven.

https://wolfstreet.com/2020/02/24/stocks-plunge-traders-confused-this-wasnt-supposed-to-happen-complacency-exacts-its-toll/
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Economic Update: Larger Social Changes to Support Worker Co-Ops
8,865 views•Feb 24, 2020


Democracy At Work
150K subscribers

[S10 E08] Larger Social Changes to Support Worker Co-Ops

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

This week on Economic Update, Professor Wolff responds to a criticism aimed at how d@w focuses too much on the transition from capitalist firms to worker co-op firms with too little attention paid to the larger social changes needed to move towards a worker-owned economy and thusly, beyond capitalism. Professor Wolf answers this criticism by discussing the broader social changes necessary to sustain a worker co-op based economy including the economic tools our government could use to sustain an economy-wide sharing of profits and resources as deemed necessary by the people participating in, working and creating in, the industries they as employees could and would control.
____________________________________________________________________
Prof. Wolff's latest book "Understanding Socialism"
http://www.lulu.com/spotlight/democra...

Want to help us translate and transcribe our videos?
Learn about joining our translation team: http://bit.ly/2J2uIHH
Jump right in: http://bit.ly/2J3bEZR
________________________________________________________________
Follow us ONLINE:
Patreon: https://www.patreon.com/economicupdate
Websites: http://www.democracyatwork.info/econo...
                  http://www.rdwolff.com
Facebook: http://www.facebook.com/EconomicUpdate
                   http://www.facebook.com/RichardDWolff
                   http://www.facebook.com/DemocracyatWrk
Twitter: http://twitter.com/profwolff
              http://twitter.com/democracyatwrk
Instagram: http://instagram.com/democracyatwrk
Subscribe to our podcast: http://economicupdate.libsyn.com
Shop our Store: http://bit.ly/2JkxIfy
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Tue, 02/25/2020 - 16:01

SNIPPET:

WHO, CDC, and HSS all dropped the honesty hammer today:

WHO SAYS REST OF WORLD IS NOT YET READY FOR VIRUS SPREAD

CDC OFFICIAL SAYS CORONAVIRUS PANDEMIC IS LIKELY

AZAR SAYS U.S. MAY NEED UP TO 300M MASKS FOR HEALTHCARE WORKERS

And just like that 'complacency' gone...
From "Extreme Greed" to "Extreme Fear" in a week...👀







Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
February 26, 2020

Quote
Macdavy 👍
the cascading effects of this are too many to list, and the pundits on wall street aren't expert on pandemics so are likely wrong, how can their hubris be so huge, how do they think this can all blow over, they must really not understand the force of nature we are dealing with. 

When airlines start to default because of government-enforced travel restrictions or simply people cancel travel plans, now hotels and restaurants default, cab companies, uber has fewer customers as people stay home, luxury items are not a priority, items dry up at stores as china is in full economic lockdown,  Walmart starts layoffs, I can go on and on at what's coming,

The problem is our central banks created this asset bubble people think is going to the moon, it was already up 350% on nothing but low interest and cheap credit. We weren't in an economic boom; We were in a boom of cheap money and the world leveraged, and now our cheap trinkets are about to stop flowing. This little nanometer chain of RNA has just started to pop this bubble, and the banks are helpless. No amount of liquidity they pump into this will stop it. Right now I'm seeing something I haven't seen since 2008, the markets are started to scream fear, All our jobs will be on the line.

Agelbert NOTE: The above truth telling comment was  made in regard to this truth telling 👍 article:

Wed, 02/26/2020 - 14:15
Summary

There are plenty of uncertainties in the world. Individuals have the decision-making ability to evaluate those uncertainties and the risks they pose. That said, it is difficult to remember a time when the potential turbulence we face has been so broadly ignored by the “market” and so overlooked by the Fed and politicians. It is as though we have been tranquilized by the ever-rising stock market and net worth as an artifact of that fallacious indicator of security.




Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Prof. Richard Wolff: Will Bernie Save Capitalism?
« Reply #740 on: February 26, 2020, 08:05:40 pm »
Prof. Richard Wolff: Will Bernie Save Capitalism?
16,659 views•Feb 25, 2020


The Zero Hour with RJ Eskow
28.7K subscribers

Subscribe to The Zero Hour with RJ Eskow for more: https://www.patreon.com/thezerohour

If you liked this clip of The Zero Hour with RJ Eskow, please share it with your friends... and hit that "like" button!

Some of the music bumpers featuring Lettuce, http://lettucefunk.com.
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Agelbert NOTE: Carl_R said this yesterday. He is right about Trump. I will add that Trump cannot be any other way. 🦀 Trump is an evil bastard. Trump is reaping what he willfully, arrogantly, greedily and murderously has sown all his profit over people and planet life.

Quote
Carl_R
Trump had the high ground. All he had to do was to act Presidential, and say something like "Coronavirus is a global threat. We take coronavirus very seriously, and we are devoting as much effort to fighting it as possible. So far it it contained in the US, but it is an ongoing risk. I am very concerned for all the people who could be at risk if this begins spreading in the US. I have asked Congress for additional funds to fight this threat. It it time for an end to partisanship, and we need to all work together, and then our country will emerge stronger, regardless of what happens."

With a statement like that, he wins either way. If corona doesn't cause large number of deaths in the US, it was because of his strong response. If it does, it was despite his efforts, and the resulting recession was not something he could have prevented or be blamed for. Either way, his re-election would have been almost certain.

Instead he downplayed it. Now instead of a win-win scenario he is in a lose-lose situation. In the more likely case, corona does create problems for the US economy, not only can he not win  ;D, Republicans will be wiped out in Congress as well. Expect Sanders to be elected , and to have a better than 2/3 majority in both houses  . In the less likely scenario, it is contained and never becomes an issue in the US. In that case, coronavirus is forgotten, and ceases to be a factor. Even though he was right, he gets no credit because the supply disruption in China causes a recession anyway, which he gets blamed for, and he loses the election that way, too, though the Republicans end up perhaps holding the Senate.

Without question, this was the worst political move I have ever seen at any level . He had a winning hand, and he folded and accepted defeat.

I think there is no way to keep Coronavirus from spreading in the US . There is just too much travel. I talked to four customers today. I'm in a relatively small town in the middle of nowhere. One had just returned from Africa. Another was headed to Mexico for a cruise. Another was on his way to Germany. Still another was headed to Israel on Friday. This is going on in every city in America. Coronavirus will be here sooner, rather than later, and Trump, and the Republicans will pay a heavy, heavy price for his incredibly ill-advised speech tonight. The stock market will probably rally for a couple days, though. I hope it was worth it to him.

ANOTHER Agelbert NOTE: Trump's PPT is desperately trying to protect the stock market. It isn't working ;D. It appears that sanity has returned to most of the traders there.  As I posted February 5, 2020, the Crack-up Boom market is in progress for many reasons, only one of them being Covd-19. The market has nowhere to go but DOWN. The only prudent thing to do is SELL.

Quote
thimk
It's all a ruse to protect the much vaunted reelection stock market  Notice how the Trumpster shifted culpability to Pence; the fall guy. My god we don't even have a reliable, affordable, accessible test for this man made malady. This virus possesses ungodlike like characteristics. It's ironical the CB's adopted a "what ever it takes" attitude to save the financial markets but "what ever it takes" doesn't apply to the well being of individuals. No global integrated action plan/procedures/policies forth coming. It's just considered a blip on the radar screen. Make that a double, bartender.

associated article:







Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Agelbert NOTE: 📢 There is NO LONGER ANY DOUBT that a SEVERE BEAR MARKET is in progress.







Thu, 02/27/2020 - 16:01

Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Nancy Altman ✨: 😈 Bloomberg (Still) Wants to Cut Your Social Security 😠
420 views•Feb 27, 2020


The Zero Hour with RJ Eskow
28.9K subscribers

Subscribe to The Zero Hour with RJ Eskow for more: https://www.patreon.com/thezerohour

If you liked this clip of The Zero Hour with RJ Eskow, please share it with your friends... and hit that "like" button!

Some of the music bumpers featuring Lettuce, http://lettucefunk.com.
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

Surly1

  • Administrator
  • Hero Member
  • *****
  • Posts: 936
Stock futures point to more losses after Thursday’s massive tumble amid coronavirus fears
Dow plunges 1,100 points, bringing its decline from a record high to more than 10%


Stocks fell sharply in volatile trading Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings on the virus dragged down the major averages, tipping them into correction territory.

The Dow Jones Industrial Average plummeted 1,190.95 points, or 4.4%, to close at 25,766.64. The S&P 500 slid 4.4% to 2,978.76 while the Nasdaq Compositedropped 4.6% to 8,566.48. The Dow had its worst day since February 2018 while the Nasdaq and S&P 500 posted its biggest one-day loss since August 2011.

It was also the Dow’s biggest one-day point decline in history, surpassing Monday’s 1,031-point drop. The S&P 500 also closed below 3,000 for the first time since last October.

“We’re extremely cautious in the short term,” said Tom Hainlin, global investment strategist at Ascent Private Capital Management. “No one really seems to be an expert on the coronavirus. We haven’t seen anything like this really in our investing lifetimes.”

Thursday’s losses put the Dow, S&P 500 and Nasdaq in correction territory, which is defined on Wall Street as down more than 10% from their a recent high. It took the Dow just 10 sessions to tumble from its all-time high into a correction. The S&P 500 and Nasdaq set record highs last week. The Dow now sits more than 12% below its all-time high.

The Dow and S&P 500 were also on pace for their worst weekly performance since 2008. Through Thursday’s close, the Dow was down more than 11% week to date while the S&P 500 had lost 10.8%.

The CDC confirmed on Wednesday evening the first U.S. coronavirus case of unknown origin in Northern California, indicating possible “community spread” of the disease. The patient had no travel history or contacts that would have put the person at risk, the CDC said. On Thursday, California Gov. Gavin Newsom said the state is monitoring 8,400 people for coronavirus.

Apple, Intel and Exxon Mobil were among the worst-performing Dow stocks Thursday, dropping at least 6% each. AMD and Nvidia fell 7.3% and 5.6%, respectively.

American Airlines dropped 7.7% while United Airlines slid 2.4%. Las Vegas Sands and MGM Resorts, meanwhile, fell 1.3% and 4.5%, respectively.

Trump press conference

President Donald Trump tried to assuage concerns over the outbreak on Wednesday night. At a White House news conference, he said the risk of coronavirus to people in the U.S. is still “very low” but added that the U.S. is going to “spend whatever’s appropriate.” Trump also put Vice President Mike Pence in charge of the U.S. response to the coronavirus and said markets should soon recover.

But worries over how the coronavirus will impact corporate profits and global economic growth overwhelmed the president’s assurances. The stock market has been under pressure all week as the number of confirmed cases increased outside of China. South Korea has confirmed a total of more than 1,700 cases. More than 600 people have contracted the virus in Italy.

The outbreak has also led several companies to issue warnings about its earnings and revenues.

Microsoft said Wednesday it will not meet its revenue guidance for a key segment. It said its supply chain is “returning to normal operations at a slower pace than anticipated,” which led the tech giant to cut its forecast for its personal computing division. Personal computing accounted for 36% of Microsoft’s overall revenue during the previous quarter. Microsoft shares were down 7.1%. PayPal also issued a warning about its outlook.

Goldman’s bearish call

“US companies will generate no earnings growth in 2020,” David Kostin, Goldman Sachs’ chief U.S. equity strategist, said in a note that further spooked the market on Thursday. “Our reduced profit forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for US exporters, disruption to the supply chain for many US firms, a slowdown in US economic activity, and elevated business uncertainty.”

The S&P 500 posted Thursday a six-day losing streak, its longest daily slide since August. The Dow also had a sixth consecutive loss, the 30-stock average’s longest losing streak since 2018.

“As this week’s selling has progressed, we have seen some evidence of increased caution on the part of investors,” said Willie Delwiche, investment strategist at Baird. “Investors are shifting away from excessive optimism but there is still little evidence of fear overwhelming complacency. Bottoms are typically processes punctuated by climactic events and seeing breadth indicators stabilize would be an encouraging sign that such a process is underway.”

Bond prices, in turn, have surged this week sending yields to historic lows.

The benchmark 10-year Treasury yield dipped below 1.25% on Thursday, hitting a record low. The 30-year bond rate is also trading at an all-time low. Yields move inversely to prices.

“We’ve hit a pocket of fear,” said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities. “This is a big deal. … If this flows into the U.S., we could be in trouble because, let’s face it, the U.S. consumer is what’s holding this thing together.”

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.


AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
February 28, 2019 5:08 PM


SNIPPET:

Dow crashed from peak to correction at its fastest pace since 1928 - right before The Great Depression


Read a LOT MORE:

« Last Edit: February 28, 2020, 09:48:58 pm by AGelbert »
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution

By Laurie Macfarlane, Opendemocracy.net

February 27, 2020 | STRATEGIZE!

SNIPPET:

Quote
In the age of the ‘self-made’ millionaire, the lottery of birth is more important than ever. As George Monbiot once said: “If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire.”

Full article:


Quote
Kelly Storme • 10 hours ago
This will likely be the final heads-up/warning I provide readers here. First and foremost - we All must start thinking for ourselves. Question what you hear, question what you read, question your own world views, question your own biases.

This warning is not meant to cause extreme fear or panic - People Do Not Behave Rationally when they are Petrified or Panicked. I only wish to provide you with some information that I Do Not Want You to Take as Fact - I want to cause you enough concern that you will ask questions, do your own research, draw your own conclusions and take responsible actions that you believe to be best for yourself and those you care about.

I don't have time to give you a lot of details. You don't have time for me to soft pedal this. If you listen and do your own rapid due diligence and then act swiftly, you will be far more prepared for what is coming than the vast majority of the masses.

You need to know two things -

One: The economy is collapsing - the real economy was already in bad shape - now the hyper inflated bankster created fake financial economy is cratering and it Will decimate what's left of the real economy - We are headed for, not a recession, a depression. You will witness asset classes collapse in price - stocks, bonds, housing, luxury goods, new cars, etc. and you will see further inflation of everyday goods as they become more scarce and therefore more precious.

Thanks to this covid19 nightmare, it has severely damaged global supply chains. What does that mean? It means the shipments from overseas that are docking at ports now will constitute the last resupply for an unknown period of time of things you buy that you typically don't even think about not having - pharmaceuticals, vitamin supplements, toilet paper, paper towels, electronics, etc. - long list. This virus, thanks to an inadequate response in way too many countries, is spreading worldwide. When it comes to a neighborhood near you, and it will have a negative impact on domestic supply chains as well as the international ones. If you do not do some prudent preparing for shortages right now, you will be left hanging in the wind. My best guess is that you have no more than a month before this hits most of our stores that rely on imports like a 2x4 in the face.

So, do your homework, make your own decisions about what's real and what's not.
And, if you have any doubt in your mind about what is taking place in our economy, buy some provisions.

PLEASE Do Not Hoard. Figure out what you need to get by for at least a month and better yet, three months (canned and dried food, water, prescriptions, first aid, bleach, toilet paper, cash, etc.). Go out and calmly purchase what you need. Buy what you normally would use so if you are fortunate enough not to need all of it for this particular situation, you'll eventually use it anyway - no wasted money on your part.

Again, I cannot stress this enough. Please Do Not Hoard. Please do your own due diligence - it is very important for all of us moving forward to Think For Ourselves.

I wish you all well.
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution
Economic Update: When Stale Debates Distract
« Reply #747 on: March 02, 2020, 08:47:28 pm »
Economic Update: When Stale Debates Distract
11,465 views•Mar 2, 2020


Democracy At Work
151K subscribers

[S10 E09] When Stale Debates Distract

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

This week on Economic Update, Professor Wolff presents updates on how air-bnb reflects workers' falling living standards, price-gouging anti-virus masks, purpose of Trump's record deficit, end of Brexit distraction makes UK face its real problem: capitalism, and cause of San Diego's pension crisis. The second half of the show features a major discussion of the economics' centuries-old, #1 debate - more vs less govt economic intervention. That debate mostly distracts from the feared debate over capitalism vs really alternative systems.
____________________________________________________________________
Prof. Wolff's latest book "Understanding Socialism"
http://www.lulu.com/spotlight/democra...

Want to help us translate and transcribe our videos?
Learn about joining our translation team: http://bit.ly/2J2uIHH
Jump right in: http://bit.ly/2J3bEZR
________________________________________________________________
Follow us ONLINE:
Patreon: https://www.patreon.com/economicupdate
Websites: http://www.democracyatwork.info/econo...
                  http://www.rdwolff.com
Facebook: http://www.facebook.com/EconomicUpdate
                   http://www.facebook.com/RichardDWolff
                   http://www.facebook.com/DemocracyatWrk
Twitter: http://twitter.com/profwolff
              http://twitter.com/democracyatwrk
Instagram: http://instagram.com/democracyatwrk
Subscribe to our podcast: http://economicupdate.libsyn.com
Shop our Store: http://bit.ly/2JkxIfy
Category News & Politics
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution

by Tyler Durden

Tue, 03/03/2020 - 11:19

SNIPPET:

Neil Dutta, head of U.S. Economics at Renaissance Macro Research:

“Markets are said to stop panicking when policy makers begin to panic. The Fed just delivered an emergency cut, which qualifies as panic. But the 👹🎩 Fed’s 💵 tools are imperfect and not adequate to deal with a public health crisis. The market wants to know how far the virus will spread and the Fed cannot answer that question. The panic needs to come from the opposite of 17th Street in DC.”

Full article:



Agelbert NOTE: Quote of the day (valid EVERY DAY since 🦀 Trump stole the 2016 election):

Quote
GRDguy

Do people really think that a 🦀 financial sociopath who knowingly lies and steals for a living is going to do with less. No different from any other addict; they have to hit bottom first before they'll change.




Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 33007
  • Location: Colchester, Vermont
    • Renwable Revolution




Historic Capacity Crunch Looms as More Europe-Asia Sailings are Blanked
March 2, 2020 by The Loadstar


CMA CGM Containership File Photo: Sheila Fitzgerald / Shutterstock.com

By Gavin van Marle (The Loadstar) – Freight forwarders sending goods out of Europe to Asia face one of the tightest capacity crunches in living memory over the next few weeks.

CMA CGM is set to blank 23 North Europe-Asia sailings from now until 2 June, after last week announcing three further deepsea sailings in the middle of this month had been cancelled, “due to recent demand slowdown in the context of the coronavirus situation”.

This month alone, 15 eastbound sailings will not take place as scheduled, and the line said the cancellations were affecting its north-south services that relay cargo across Mediterranean hubs.

“Please note that these blank sailings also affect space on our Med, North Africa, East Africa, Middle East, Oceania and India subcontinent trades,” it said.

As a result, it has today introduced an emergency space surcharge of €50 per 20ft and €100 per 40ft for all shipments from North Europe, UK and Scandinavian ports to all Mediterranean and North African ports.

The Loadstar understands that the French carrier has now declared the situation as a force majeure, and that the strategy of blanking sailings would likely continue “for the foreseeable future, pending the return to normalcy of trade with China, Chinese production facilities and other countries impacted by the outbreak”.

Meanwhile, the build-up of reefer boxes in Shanghai, appears to have worsened, according to Maersk.

It has expanded its $1,000 per reefer container congestion surcharge to include the neighbouring port of Ningbo, effective immediately, for cargo brought in on non-FMC trades, with a 22 March implementation date for FMC-governed trades.

“The plug shortage in Shanghai and Xingang has not improved in the latest weeks and, indeed, it has been worsening also in surrounding ports. For that reason, we will be expanding the scope of the congestion, adding also Ningbo,” it said in a customer advisory.

“We recommend customers, when possible, to ship to other Chinese destinations or other markets in order to avoid the congested ports. This recommendation is in particular for transit time-sensitive, perishable, chilled commodities with a limited/short shelf-life, eg fruit/vegetables and frozen meat,” it added.

The move comes despite a reported decision by Ningbo port to reduce its reefer tariff by 50% “until the end of the virus”.

The Loadstar is fast becoming known at the highest levels of logistics and supply chain management as one of the best sources of influential analysis and commentary. Check them out at TheLoadstar.co.uk, or find them on Facebook and Twitter.


https://gcaptain.com/historic-capacity-crunch-looms-as-more-europe-asia-sailings-are-blanked/
Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

 

+-Recent Topics

Experts Knew a Pandemic Was Coming. Here’s What They’re Worried About Next. by Surly1
May 12, 2020, 07:46:22 am

Doomstead Diner Daily by Surly1
May 12, 2020, 07:40:17 am

Profiles in Courage by AGelbert
May 09, 2020, 11:47:35 pm

Money by AGelbert
May 09, 2020, 11:27:30 pm

Creeping Police State by AGelbert
May 09, 2020, 10:35:38 pm

COVID-19 🏴☠️ Pandemic by AGelbert
May 09, 2020, 10:19:30 pm

Resisting Brainwashing Propaganda by AGelbert
May 09, 2020, 10:07:28 pm

Corruption in Government by AGelbert
May 09, 2020, 09:54:48 pm

🚩 Global Climate Chaos ☠️ by AGelbert
May 09, 2020, 09:10:24 pm

Intelligent Design by AGelbert
May 09, 2020, 06:38:41 pm