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Everything posted by nuckin_futz
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What if we hear it directly from him?
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Just now .... Reporter : "Have you had any contact with the Senators who are now in isolation?" Trump : "Which ones are in isolation?" Reporter : "Paul, Lee, Gardner, Cruz, Romney" Trump : "Romney's in isolation? Gee that's too bad." Great time for his stand up routine. Fiddling while Rome Burns.
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As the resident Kool Aid man around here. You think I'd hire him?
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Harvey Weinstein Tests Positive For COVID-19 Update (1725ET): Harvey Weinstein has reportedly tested positive for COVID-19 as the number of cases in Rikers Island, where he was until recently being held, explodes. The news comes courtesy of a local New Jersey newspaper, citing contacts in the state prison system. The report was later picked up by the New York Post. Due to his advanced age and allegedly poor health, Weinstein would probably be considered a 'high risk' patient, though the US still has plenty of available beds.
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https://www.worldometers.info/coronavirus/#countries
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4 minutes ago.
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Senator Rand Paul Tests Positive For COVID-19: Live Updates Global case total accelerates toward 350k... German Chancellor Merkel In Quarantine After Contact With Infected Doctor: Italy Bans All Movement Inside The Country Europe is clamping down on any person-to-person contract in what can only be described as an unprecedented lockdown.
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Your mother is a wise woman.
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Italy Coronavirus Lockdown 'Not Enough,' Says China, Healthcare Staff Stop Counting Bodies Chinese medical experts are dispensing advice to Italy in the hopes of helping them deal with the coronavirus that has ravaged Italy the past few weeks. The first bit of advice was that the European country was “not strict enough” in their handling of the health crisis. It has gotten so bad in Italy that one nurse said they have stopped counting the bodies. Milan, Italy, was the site of a press conference held on Thursday where Chinese Red Cross Vice President Sun Shuopeng said that conditions in Northern Italy are “..similar to what we experienced two months ago in Wuhan, China, the epicenter of COVID-19." He continued, "In the city of Wuhan after one month since the adoption of the lockdown policy, we see a decreasing trend from the peak of the disease. Here in Milan, the hardest-hit area by COVID-19, there isn't a very strict lockdown: public transportation is still working, and people are still moving around, you're still having dinners and parties in the hotels and you're not wearing masks. We need every citizen to be involved in the fight of COVID-19 and follow this policy.” Then he added that Italians should stop all “economic activities and cut the mobility of people” imploring that everyone should just remain at home. At first glance, this is like a cat advising a dog to quit barking and wagging its tail to get fed but a deeper look reveals how the two cultures have been intertwined since the 13th-century travels of Marco Polo. Marco Conti, in an October 2019 article posted on his Chinamultiservice (CMS) website, pointed out some commonalities between the two nations: They both have similar views on what Conti called “The Family Concept” with the respect of elders and kids living at home until they marry. The importance of food in each culture. Meals are a family event and an important setting for businesses and friendships. Having an “inner circle” of friends in personal and business interactions is key in each culture. Each culture brags of amazing and ancient histories, if Rome formed western culture, China was the primary sculpture of eastern or Asian culture. Conti also picked out two main differences. The Chinese are known for their competitiveness, drive to succeed and work ethic that far exceeds western cultures. Italy has what most of China lacks: the amazing ability to enjoy themselves that includes knowing how to dress, dine, the art of romance and a love of socializing. China is also run by a strict authoritarian Communist regime that stresses sameness in behavior and severe consequences for those that don’t “fall into line”. Italy is a free democratic republic but as the death count rises, they may have to adopt a Chinese philosophy for a while until the pandemic runs its course. ********************* If the Chinese are saying the Italians are not doing enough to stem the tide. What would they say about the measures we have taken?
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
The more I read, the clearer the picture is becoming. Now that we are finally seeing reporting about highly leveraged firms blowing up, the landscape is becoming clearer. Something very strange began happening as far back as last September. The New York Fed began conducting very large repo operations on an ongoing basis. This information was widely available at the time. A repo operation is a short term loan (usually overnight) where an entity pledges collateral (usually treasuries or fixed income instruments, no crap assets) to the Fed in exchange for a short term loan. Then buys back it's collateral at a slightly higher rate. Long story short. The Fed began bailing out funds who all piled into similar highly leveraged trades where they were essentially picking up pennies in front of a steamroller. In the end, the steamroller won. The following explains it pretty well ........... In a nutshell, the article explained why and how the return of the Fed's repo ops was nothing more than the Fed preemptively bailing out all those hedge funds that would have imploded had basis trades gone haywire. Below is a key excerpt from that post: One increasingly popular hedge fund strategy involves buying US Treasuries while selling equivalent derivatives contracts, such as interest rate futures, and pocketing the arb, or difference in price between the two. While on its own this trade is not very profitable, given the close relationship in price between the two sides of the trade. But as LTCM knows too well, that's what leverage is for. Lots and lots and lots of leverage. LTCM being Long Term Capital Management which was a quant fund that spectacularly blew up and needed a major bailout in 1998. Basically this time around there were many LTCM's. So basically the market was going to blow up to some extent. The extent being to what degree the Fed could contain the damage. Then along came the virus and completely blew apart everyone's containment plans. That's why this market meltdown has been quicker and more unrelenting than even 1929. It's very strange to have had no bounces lasting longer than 1 day. That alone indicates how deep the problem is. One of my favorite axioms regarding Wall St is "there's never just one cockroach". We are finally starting to see the cockroaches. There will be more. Where does that leave the market? The market likes visibility. There is currently little visibility. At a minimum S&P 2100 looks like a given. Fridays close was 2305. The double top from 2000 and 2008 at 1550 looks like a better entry point. Should it get there that would be a 55% drop from the high. -
Keep in mind he still has Phase 2 and 3 of a trade deal to negotiate with China. Everything is transactional with him. Everything is a bargaining chip. He sees "China's virus" as a bargaining chip.
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If someone does not want to be accused of being a racist I would highly recommend not using an avatar of "Pepe the Frog" which has been adopted by alt-right types and Neo Nazi's. Including noted White Nationalist Richard Spencer. Even Gritty hates Neo Nazi's.
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Glad to hear it's what they think it is. Stay strong man.
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Coronavirus: President Trump declares New York state major disaster area Updated 9:17 PM; Today 7:05 PM WASHINGTON – President Donald Trump today declared New York a major disaster area due to the coronavirus pandemic, a move that opens the door to billions of dollars in federal aid to help the state fight the virus. It’s the first time in U.S. history that a president has declared a major disaster over a public health threat. Such aid is usually reserved for natural disasters such as hurricanes, earthquakes and floods. Trump’s unprecedented declaration, requested by Gov. Andrew Cuomo on Monday, will set in motion a sweeping series of federal initiatives to help New York – the state with the most confirmed COVID-19 cases in the nation. The number of cases increased by more than 2,000 between Thursday and Friday, bringing the total to 7,102 with 38 deaths. U.S. Sens. Charles Schumer and Kirsten Gillibrand, D-N.Y., said they were informed of Trump’s approval of the disaster declaration Friday night. The move allows the federal government to pay up to 75 percent of New York’s costs for its emergency response to the pandemic. Under the disaster declaration, the Federal Emergency Management Agency will be authorized to send its personnel and resources to New York. FEMA can help set up mobile coronavirus testing centers, disinfect public facilities, and provide the state with medical supplies that are in high demand such as face masks, gloves and surgical gowns. As part of his request, Cuomo asked the federal government to provide temporary shelter assistance to New Yorkers hurt by the economic fallout in the state, and to provide additional food aid through the disaster Supplemental Nutrition Assistance Program, or food stamps. Cuomo also wants the federal government to pay benefits to New Yorkers who lost their jobs because of coronavirus, but don’t qualify for traditional unemployment payments because they are self-employed or used up their benefits. New York’s two U.S. senators and 14 of the state’s House members had urged Trump to sign the declaration this week. The House members, led by Reps. John Katko, R-Camillus, and Anthony Brindisi, D-Utica, also asked Trump to waive the requirement that states pay 25 percent of the disaster bill. Schumer and Gillibrand separately asked Trump to waive FEMA’s requirement for a preliminary damage assessment before it sends resources to a state. The president’s “major disaster declaration” for New York will allow the federal government to immediately begin using some of the $42.6 billion set aside for disaster assistance. Before signing the disaster declaration, Trump on Wednesday ordered the U.S. Navy hospital ship Comfort to New York City. The ship has 1,000 hospital beds that can be used to help relieve pressure on the city’s hospitals. ******************* New York City is nearly at maximum capacity regarding their healthcare services. It's the closest thing to Northern Italy this side of the pond. They are asking anyone with the ability to make masks and gowns to do so.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
CME says Ronin Capital unable to meet capital requirements Fri 20 Mar 2020 19:03:50 GMT International firm blows up CNBC says Ronin Capital, a prop firm headquartered in Chicago with offices in New York, London, and Hong Kong, is offside with the CME. They say the losses related to VIX positions. Their website says this: Ronin Capital is a global, multi-strategy proprietary trading firm. We focus on providing our traders a level of independence they desire, while inviting them to play a collaborative role in the creation and growth of profitable trading strategies. Shame. Looks like they had a nice office. It was founded in 2001. I can't find anything that advertises how much it had under management but judging by those offices, it was a decent amount. The biggest irony: in its "About Us" section, the firm writes that "much of Ronin’s success derives from our superior risk management experience. Our unique approach combines sophisticated quantitative market analysis with years of proven trading expertise, across multiple products." It's out that Ronin's failure will in turn derive from its catastrophic risk management experience. ********************* Finally starting to hear about some of the inevitable blow ups. TVIX went from under $40 to 1000. Get on the wrong side of that and you'll blow up real good. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Can't help but notice you did not answer my question. Anyways, this is the investment thread. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Is there a vaccine for SARS or MERS? -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Where are the consumers going? Is everyone going to die? -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
The thing to remember about the Great Depression was that the Central Banks completely made it worse by multitudes by tightening interest rates in an effort to drain all the excess out of the system. They made capital so scarce it went from a Wall St panic to an economic panic. They are not nearly that dumb anymore. -
Trudeau: We received 500K applications for unemployment vs 27K normally Fri 20 Mar 2020 15:24:05 GMT Comments from the Canadian Prime Minister Trudeau on the jump in unemployment numbers. He said the jump has put an unprecedented amount of pressure on the system and that the 500K number is only for so far this week and compares to the same week last year.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Yes. Do you really think Wal-Mart, Microsoft, Google, Apple, Pfizer are going anywhere? The virus will pass eventually. Central Banks will throw whatever amount of money at this they need to. The Mad Max stuff is entertaining but unrealistic.