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nuckin_futz

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Everything posted by nuckin_futz

  1. Trump declares national emergency, as expected Fri 13 Mar 2020 19:31:38 GMT Comments from Trump Declares national emergency, as expected Asks hospitals to activate emergency plans Emergency order gives broad plans to activate emergency plans Allows hospitals to waive some requirements When you compare what we've done compared to other countries, it's incredible US authorities do not want people to get a coronavirus test if they do not need it Expects up to 500K additional tests to be ready early next week Google will develop a website to determine whether a test is warranted and to help facilitate testing We don't want everyone taking this test, it's totally unnecessary This will pass Waives interest on all student loans held by agencies Says authorized refilling of US strategic petroleum reserve 'right up to the top' ***************** I deleted the picture of Trump in the Rose Garden so as not to make @Cerridwen wretch. The swipe at Obamacare was classy. Something like "Google will be helping us create a website for the pandemic and it will work very well, unlike some other websites." <----- he just can't help himself.
  2. China says work resumption rates vary from 60% to over 95% (ex Hubei) Fri 13 Mar 2020 02:59:28 GMT China vice industry minister says work resumption rate for small and medium-sized firms outside of Hubei is around 60% for larger-scale firms outside of Hubei is over 95% Says will coordinate with other countries' govts to push forward business resumption, reduce the impact of coronavirus pandemic as much as possible
  3. They'll be plenty. Often depends on when you go to the store. Wal Mart is terrible for restocking during the day. Show up in th emorning and it's the land of plenty. Get there at 3 pm and it's like a scene from Mad Max.
  4. The run on toilet paper is a pure mania but it's an ominous sign of what's to come in poor countries It doesn't make any sense Everyone needs toilet paper, I get it. But scenes like this make no sense. That's like six months of toilet paper right there and it's not an uncommon scene. There is every reason to stock up with a month of supplies but there aren't the same signs of people loading up on canned goods, for instance. Certainly not at the same levels. This is a genuine example of a mania and it's amplified by social media. When you see empty shelves of toilet paper, it triggers a psychological response regarding scarcity. Even though it's not the most-rational response, it's not entirely irrational either and it's not wasteful, because everyone needs it eventually. In general, this is something that's stupid and maybe a bit funny. There are big lines at grocery stores everywhere but the inventory -- at least in North America -- is so overwhelming that no one is worried about running out of food. What I fear is this kind of thing unfolding in parts of the world where there is food scarcity. The wealthy world is very introspective at the moment and that's natural because the news and change is overwhelming right now. But this pandemic hitting the developing world and very poor countries is going to be awful.
  5. "We're Pulling Out All The Stops": Trudeau Promises To Help Canadians With Their Bills As He Leads Nation From Home After his wife, Sophie Gregoire, revealed last night that she had been diagnosed with Covid-19 following a trip to London, Canadian Prime Minister Justin Trudeau - who apparently hasn't been infected - said during a noon press conference on Friday that he is feeling fine, and will continue running the country from the comfort of his home office until he's officially cleared to return to the office. During a news conference held outside his home n the mean time, Canada will be "pulling out all the stops" Trudeau ticked off a litany of daily stressors that are affecting Canadians, from school cancellations creating urgent child-care needs, to workers who might need to forgo paychecks. "We will help Canadians financially," Trudeau said, promising to help out with child care, as well as a "fiscal stimulus package" that will be delivered "in the coming days. Trudeau also said he's spoken with world leaders including Trump, UK PM Boris Johnson and French President Emmanuel Macron, and assured Canadians that the G7 would deliver a "coordinated response" to the crisis. The leaders of the organization's nation-state members will join a conference call on Monday to decide (or not) exactly what the nature of that response will be.
  6. Maybe we should seal our border. Seeing as how they deem us a "national security threat" in order to impose steel and illuminum tariffs on us.
  7. Denmark completely seals its borders from people Fri 13 Mar 2020 18:42:13 GMT All borders will close tomorrow Not even China closed its borders but Denmark says it will completely close access to the country by air, sea and road starting tomorrow until after Easter. Only Danes or people working in the country will be allowed in. I can't imagine this includes trade but that's a dramatic step. I'm not even sure that's legal under EU rules but I don't think they care.
  8. If we have negative rates there will be way more important things going on to worry about. I can see rates back to .25% but no lower. BOC does not want to go negative. It's a death trap for an economy.
  9. France reports 79 coronavirus deaths up from 61 on Thursday Fri 13 Mar 2020 18:14:11 GMT Coronavirus deaths France rise to 79 France's reporting: coronavirus deaths rise to 79 from 61 yesterday Total cases are up to 3661 versus 2876 yesterday Saudi Arabia is also reporting their statistics: total cases up to 86 which is an increase of 24 from yesterday. In other news, American Airlines confirms that is in talks with the US government about possible assistance
  10. BOC cuts rates by 50 basis points in surprise move Fri 13 Mar 2020 18:08:31 GMT Second cut this month BOC cuts rates to 0.75% from 1.25% and the statement says they stand ready to adjust further if required. They also note other liquidity measures. Full statement: The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada's economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices. It is clear that the spread of the coronavirus is having serious consequences for Canadian families, and for Canada's economy. In addition, lower prices for oil, even since our last scheduled rate decision on March 4, will weigh heavily on the economy, particularly in energy intensive regions. The Bank will provide a full update of its outlook for the Canadian and global economies on April 15. As the situation evolves, Governing Council stands ready to adjust monetary policy further if required to support economic growth and keep inflation on target. The Bank has also taken steps to ensure that the Canadian financial system has sufficient liquidity. These additional measures have been announced in separate notices on the Bank's website. The Bank is closely monitoring economic and financial conditions, in coordination with other G7 central banks and fiscal authorities.
  11. Wow......... BOC cuts rates by 50 basis points in surprise move Fri 13 Mar 2020 18:08:31 GMT Second cut this month BOC cuts rates to 0.75% from 1.25% and the statement says they stand ready to adjust further if required. They also note other liquidity measures. Full statement: The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada's economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices. It is clear that the spread of the coronavirus is having serious consequences for Canadian families, and for Canada's economy. In addition, lower prices for oil, even since our last scheduled rate decision on March 4, will weigh heavily on the economy, particularly in energy intensive regions. The Bank will provide a full update of its outlook for the Canadian and global economies on April 15. As the situation evolves, Governing Council stands ready to adjust monetary policy further if required to support economic growth and keep inflation on target. The Bank has also taken steps to ensure that the Canadian financial system has sufficient liquidity. These additional measures have been announced in separate notices on the Bank's website. The Bank is closely monitoring economic and financial conditions, in coordination with other G7 central banks and fiscal authorities. ******************* They're scared, they know whats coming.
  12. German coronavirus cases rise nearly 50% in a day Fri 13 Mar 2020 17:58:29 GMT German cases jump Germany's Robert Koch Institute says number of confirmed cases in Germany rise to 3062 from 2078 yesterday New York adds nearly 100 new cases of coronavirus Fri 13 Mar 2020 17:59:12 GMT Latest update from New York governor Cuomo Cases up 96 to 421 50 of the cases hospitalized 18 in intensive care Cuomo said yesterday that he expects cases to rise quickly in the coming days. *************************** The grim headlines just will not stop.
  13. The coming wave of unemployment claims is going to be unprecedented Fri 13 Mar 2020 17:17:31 GMT The system is going to be overwhelmed Around the world governments are going to be tested on unemployment benefit claims like never before. Schools, daycares and businesses are shutting down at speeds never-before seen. In something like the financial crisis it was sudden, but not like this. 12 million Americans work in the food-service industry with an average salary of $21,800. Those people aren't going to survive without two months of paychecks. They will need that money fast. That industry isn't shutting down now but it hit a sudden stop in much of Europe so it's very possible that it's coming. If the government can't get virus tests, how do you think it's going to handle a US initial jobless claims jumping from 200K to 2 million? Italy is up first.
  14. Millennials risk cheap flights amid coronavirus fears It’s a matter of fun — and affordability — over fear. As air travel becomes increasingly precarious with flight cancellations and country-wide quarantines amid the coronavirus pandemic, some young people are taking advantage of cheaper tickets. “I feel like if the coronavirus would get even more serious and like wipe out a large amount of people, I might as well be somewhere having fun,” 20-year-old Ashley Henkel tells NBC of her recent decision to book three cheap summer flights. The resident of California’s Central Valley has decided not to let the virus drive her into self-quarantine, but instead enable her to scratch her itch to travel. There’s “no fun in staying at home and being all worried,” says Henkel, who’s looking forward to her freshly planned trips to Vancouver, British Columbia, New York and Portland, Ore. https://nypost.com/2020/03/11/young-people-are-risking-cheap-flights-amid-coronavirus-if-i-die-i-die/ **************** Read a lot of stories like this. The widespread thinking among Millennials is it only kills old people so they'll be fine. Little regard for becoming disease vectors and spreading it among the vulnerable.
  15. Yes, a lot of countries do. They just rotate the oil every so often.
  16. Miami mayor has coronavirus after event with Bolsonaro Fri 13 Mar 2020 16:28:11 GMT Miami mayor has coronavirus Miami Mayor Francis Suarez has tested positive for COVID-19, according to the Miami Herald. "It is confirmed that I have the coronavirus," Suarez told the newspaper. "I did test positive for it." Suarez was one of several politicians, including Miami-Dade Mayor Carlos Gimenez, Sen. Rick Scott and President Donald Trump, who interacted with Brazilian President Jair Bolsonaro and his staff during a visit to South Florida last week. He's been in self-isolation since yesterday.
  17. Greece goes into lockdown, US and UK elections cancelled Fri 13 Mar 2020 16:22:47 GMT The news just keeps on coming The latest is that Greece will close all bars, restaurants, shopping malls and cafes. Greece at the moment doesn't appear to be a hotspot and hopefully this is simply an aim to get ahead of it; which is the kind of medicine that I think markets will eventually come to appreciate. Other news is that England has cancelled mayoral elections and Louisiana has cancelled the Democratic primary. The England elections have been cancelled for a full year.
  18. Saudi Arabia looking to charter 31 oil supertankers, up from 19 Wednesday Fri 13 Mar 2020 15:56:44 GMT Saudi Arabia just ruthless in this market share war Oil is down 13-cents on the day to $31.40 after rising as high as $33.87. Shipping data shows at least 5 of those headed for the US.
  19. Bolsonaro's son says his dad has tested negative for coronavirus Fri 13 Mar 2020 15:37:40 GMT Differing reports The Brazilian President's son says his dad tested negative for the virus. The Presidents facebook page also says he's tested negative. Earlier reports said he was positive. There are going to be conspiracy theories around this like there was with Xi. I wonder if there is more value in being transparent or hiding a case of a head-of-state getting it. Politicians are notoriously paranoid about holding onto power and appearing healthy.
  20. "We Are Treated Worse Than Garbage": Italian Families Stuck Inside With Bodies Of Dead Spouses As Nationwide Lockdown Begins Thanks in part to President Trump's nonchalant initial response (though as he demonstrated during last night's Oval Office press conference, the president has changed his tune - or at least it appears that way), millions of Americans still believe the coronavirus is - worst case - like a bad flu. Actors Tom Hanks and Rita Wilson inadvertently amplified this idea when they reported feeling "a little achey" after testing positive for the virus in Australia. But after reading this desperate plea from an Italian citizen whose sister succumbed to Covid-19 before ever making it to a hospital, hopefully they'll understand what's really at stake here. As Dr. Scott Gottlieb said earlier on CNBC: It's probably too late for America to be South Korea (aka taking swift steps to contain the outbreaks before they get out of control), but we don't have to be Italy. When his sister died after contracting the novel coronavirus, Luca Franzese thought that things couldn’t get much worse. Then, for more than 36 hours, the Italian actor and mixed martial arts trainer was trapped at home with Teresa Franzese’s decaying body, unable to find a funeral home that would bury her. "I have my sister in bed, dead, I don’t know what to do," Franzese said in a Facebook video over the weekend, pleading for help. "I cannot give her the honor she deserves because the institutions have abandoned me. I contacted everyone, but nobody was able to give me an answer." more in the link (not going to post video of a corpse) https://www.zerohedge.com/geopolitical/we-are-treated-worse-garbage-italian-families-locked-inside-bodies-dead-spouses
  21. G7 leaders to hold video conference Monday to discuss coordinated response Fri 13 Mar 2020 15:21:22 GMT Comments from a French official cited by Reuters Officials will discuss coordination.
  22. Trump to declare national emergency over coronavirus Fri 13 Mar 2020 15:19:25 GMT Trump will take emergency measures This was partly expected for his Wednesday speech because it will open up something like $40B and FEMA money to attack the virus and improve supplies. It's also an important signal to cancel events. On theory on the lack of testing in the US is a shortage of chemicals needed to run the tests, but that's speculation. Faucci yesterday said widespread testing is a week away; but that's what they said last week.
  23. White House to hold emergency meeting after Bolsonaro tests positive, will host news conference Fri 13 Mar 2020 14:57:06 GMT Trump to speak at 3 pm ET Trump yesterday said he still hadn't been tested. What are the chances he has it? That would change the narrative in a hurry.
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