Starkiller Posted April 2, 2020 Report Share Posted April 2, 2020 1 hour ago, Jamalisms said: How about before the Great Depression? less good... Link to post Share on other sites More sharing options...
OILERMAN Posted April 2, 2020 Report Share Posted April 2, 2020 1 hour ago, Jamalisms said: How about before the Great Depression? The article I posted started you at the market high right before it fell Link to post Share on other sites More sharing options...
abenjami Posted April 2, 2020 Author Report Share Posted April 2, 2020 I shorted some SPY right after the market closed. Link to post Share on other sites More sharing options...
Downtown Posted April 3, 2020 Report Share Posted April 3, 2020 The camel’s back has to break soon. Word on the street is that the rollout for the stimulus is a train wreck and banks have no info whatsoever to fulfill any or the PPP “loans.” I would have to guess that April will get nasty. ChemEngr79, pat, and Starkiller 3 Link to post Share on other sites More sharing options...
ChemEngr79 Posted April 3, 2020 Report Share Posted April 3, 2020 (edited) 16 minutes ago, Downtown said: The camel’s back has to break soon. Word on the street is that the rollout for the stimulus is a train wreck and banks have no info whatsoever to fulfill any or the PPP “loans.” I would have to guess that April will get nasty. My Industrial company has shifted from a profit maximization objective to a cash maximization objective. I am sure the banks are not going to be interested in giving out precious cash without very solid government backing... Cash is king now. Edited April 3, 2020 by ChemEngr79 Link to post Share on other sites More sharing options...
abenjami Posted April 3, 2020 Author Report Share Posted April 3, 2020 35 minutes ago, Downtown said: The camel’s back has to break soon. Word on the street is that the rollout for the stimulus is a train wreck and banks have no info whatsoever to fulfill any or the PPP “loans.” I would have to guess that April will get nasty. I heard executives from some of the major banks like Chase and Bank of America met with some White House staff last night. They basically told the White House there's no way they are rolling this out tomorrow "as is" because they are totally exposed to liability. They want some kind protection against the government refusing to reimburse them for loans they have to give out without doing their usual lending due diligence. Link to post Share on other sites More sharing options...
Jamalisms Posted April 3, 2020 Report Share Posted April 3, 2020 States aren't able to implement the new unemployment guidance yet either (or keep up with incredible demand). My wife is a gig worker and I figured I might as well file for her and get what we can. WI said it may be up to two weeks before they get guidance from the federal government on how to implement that part. Link to post Share on other sites More sharing options...
abenjami Posted April 3, 2020 Author Report Share Posted April 3, 2020 35 minutes ago, Jamalisms said: States aren't able to implement the new unemployment guidance yet either (or keep up with incredible demand). My wife is a gig worker and I figured I might as well file for her and get what we can. WI said it may be up to two weeks before they get guidance from the federal government on how to implement that part. What also makes no sense to me is the staggered filing opportunities. Starting April 3rd "small businesses" and "sole proprietorships" can apply for the PPP. "Independent contractors" and "self employed individuals" have to wait until April 10th, when likely all of the money will already be allocated to those who applied the previous week. Here's the complete nonsensical kicker. Technically sole proprietors, independent contractors, and self employed individuals are the same fucking thing! Link to post Share on other sites More sharing options...
OILERMAN Posted April 3, 2020 Report Share Posted April 3, 2020 Having clowns in charge of the government might be a bad idea Starkiller, and ChemEngr79 1 1 Link to post Share on other sites More sharing options...
Mythos27 Posted April 3, 2020 Report Share Posted April 3, 2020 22 hours ago, abenjami said: You should at least get your account opened now so that it's ready to go when you get your handout check. Also, make sure you have the wire information handy so you can get the funds deposited right away and not have to wait a few days. And if this is long term, you should open an IRA if you don't already have another retirement plan. Will do. Thank you. abenjami 1 Link to post Share on other sites More sharing options...
abenjami Posted April 3, 2020 Author Report Share Posted April 3, 2020 See any trends on the horizon? LOL 2008-2009 crash 2020 crash Link to post Share on other sites More sharing options...
Downtown Posted April 3, 2020 Report Share Posted April 3, 2020 1 hour ago, abenjami said: See any trends on the horizon? LOL 2008-2009 crash 2020 crash With the way this is all playing out, I just can’t see how we already hit the bottom. Starkiller, and ChemEngr79 2 Link to post Share on other sites More sharing options...
abenjami Posted April 3, 2020 Author Report Share Posted April 3, 2020 29 minutes ago, Downtown said: With the way this is all playing out, I just can’t see how we already hit the bottom. Me either. Here's a better graphical explanation. ChemEngr79 1 Link to post Share on other sites More sharing options...
OILERMAN Posted April 3, 2020 Report Share Posted April 3, 2020 Today was payday, 401k bought shares today 3.75% down abenjami 1 Link to post Share on other sites More sharing options...
pat Posted April 3, 2020 Report Share Posted April 3, 2020 1 hour ago, abenjami said: Me either. Here's a better graphical explanation. Link to post Share on other sites More sharing options...
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