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Global Economic Meltdown Thread

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  • It has been an unsettling week on global financial markets, and not just because the stock market has fallen sharply enough to bring a decade-plus bull market to an end.

    Underneath the headline numbers were a series of movements that don’t really make sense when lined up against one another. They amount to signs — not definitive, but worrying — that something is breaking down in the workings of the financial system, even if it’s not totally clear what that is just yet.

    Bond prices and stock prices have moved together, not in opposite directions as they usually do. On a day when major economic disruptions resulting from the coronavirus pandemic appeared to become likelier — which might be expected to make typical market safe havens more popular — many of them fell instead Wednesday. That included bonds of all sorts and gold.
    https://www.nytimes.com/2020/03/12/u...ronavirus.html

    I'd like to take this opportunity to thank Republicans for defending the Second Amendment and our basic right to bear arms.

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    • https://twitter.com/realdonaldtrump/...263260161?s=21

      This fucking guy, lol.

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      • Originally posted by ivegostdacityblues View Post
        48c.jpg

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        • Originally posted by Spartan View Post

          https://www.nytimes.com/2020/03/12/u...ronavirus.html

          I'd like to take this opportunity to thank Republicans for defending the Second Amendment and our basic right to bear arms.
          I thought about buying myself a rifle. Would an AK be too cliche?

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          • You people don't need a leader. You need baby sitters.

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            • Originally posted by daCat View Post
              You people don't need a leader. You need baby sitters.

              Shhhhh, it’ll all be over soon.

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              • Originally posted by daCat View Post
                You people don't need a leader. You need baby sitters.


                This guy literally makes all of our points for us. Did you even listen?

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                • All he says is it’s not “an old persons disease, but death is more likely if you’re old”. No shit, that’s what we’ve been saying. Thats why young people have to stay out of big crowds too...to prevent us from getting old heads like daCat sick where they’re more likely to die.

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                  • Originally posted by ivegostdacityblues View Post
                    All he says is it’s not “an old persons disease, but death is more likely if you’re old”. No shit, that’s what we’ve been saying. Thats why young people have to stay out of big crowds too...to prevent us from getting old heads like daCat sick where they’re more likely to die.
                    Fuck that, I’m going to the mall today and coughing on every boomer I see.

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                    • Originally posted by ivegostdacityblues View Post


                      This guy literally makes all of our points for us. Did you even listen?
                      Apparently closer than you, since he was rather direct about how silly it was for Wall Street to go nuts.

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                      • Originally posted by daCat View Post

                        Apparently closer than you, since he was rather direct about how silly it was for Wall Street to go nuts.
                        Wall Street doesn't go nuts if they think things are under control. What is causing the panic is the mixed messaging between the health experts and the administration. Once those are more in line with each other, I think you'll see some of the panic subside. But that's not going to be next week.

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                        • Originally posted by daCat View Post

                          Apparently closer than you, since he was rather direct about how silly it was for Wall Street to go nuts.

                          You should have given us a section for us to listen to. I’m not listening to a 90 minute podcast to find the blip you want us to listen to.

                          Also, he’s not an economist. He’s a pandemic scientist. I don’t value his opinion on the economy very much, though I value his opinion on how to tackle this virus very much.

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                          • Also, I don’t think the economy will tank over the long term over this. But I’m hardly certain and it has me and a lot of other uneasy...more so because we’ve been blatantly lied to for the past couple weeks. Lies that will cause more deaths.

                            If we’re being honest it took the NBA suspending the season here for the government to take this seriously. That’s absurd.
                            Last edited by ivegostdacityblues; 03-14-2020, 11:04 AM.

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                            • Originally posted by Nash View Post

                              Wall Street doesn't go nuts if they think things are under control. What is causing the panic is the mixed messaging between the health experts and the administration. Once those are more in line with each other, I think you'll see some of the panic subside. But that's not going to be next week.
                              Actually, he was invited to speak to a group of investors about the topic, and he said it kinda startled him as to the questions they asked. And he says his attempts to put them at ease apparently fell on deaf ears.

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                              • Originally posted by daCat View Post

                                Actually, he was invited to speak to a group of investors about the topic, and he said it kinda startled him as to the questions they asked. And he says his attempts to put them at ease apparently fell on deaf ears.
                                Medical professionals have no real control over government response. They can tell you what could happen with certain scenarios, but they can't tell you if Joe the plumber gets two weeks of paid leave if he gets sick or if Delta Airlines can pay all of their employees after cutting 40% of their flights.

                                Also, it's worth noting that governmental response is the difference between 20,000 people dying from this or two million.

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