Sorry, justin

https://www.21threads.com/collections/vip-specials?fbclid=IwAR07nh7g-D_F4fAk8ymjyBZUdSvaRa9y9dW1_Y07hxxBmtwbYA9ZeYo3gEE

TLDR: March sadness

3/20/2020 10:20:44 PM

Dammit now I have to sue that guy

3/20/2020 10:37:38 PM

Yeah, we had the ominous 'Organizational Update' conference call today...all of my company's ~140 sales reps and managers were 'temporarily laid off' today so that they can cut costs and we can seek unemployment. they told us that hopefully we'd be back in 30-60 days ¯\_(?)_/¯

3/21/2020 12:29:37 AM

Someone tell me why I shouldn’t take advantage of places offering to delay my bills. Duke Energy apparently saying you can delay your bill, but please don’t abuse it.......

Even though I’m capable of paying it, why wouldn’t I delay it and let that money work for me?

3/21/2020 7:38:24 AM

https://www.npr.org/2020/03/19/818343720/homeowners-hurt-financially-by-the-coronavirus-may-get-a-mortgage-break

Been waiting for the U.S. to follow suit with what Italy did in this respect. Looks like they are trying to roll this out fast and get to everyone that asks for it instead of vetting all requests. So yea, some are going to take advantage of it but they'd rather it gets to everyone that needs it as quick as possible.

3/21/2020 8:09:34 AM

^^How is your money going to work with you? Interest on cash is about to be non-existent once again, and even without that, how much interest are you going to make on the amount of your power bill?

3/21/2020 9:47:53 AM

Could see using bill holds for gambling with your mortgage or rent by buying stocks low or day trading it if you have enough cash on hand to cover it when it's all over.

3/21/2020 9:58:51 AM

Seems like a solid financial plan for short-term debts.

3/21/2020 10:43:30 AM

While I appreciate the efforts of the banks are doing, I think they are still negative ramifications that individuals may not realize. I suspect that interest would still acrue over the period of time that individuals are not paying, which means they are going to essentially lose the principal gained in those last few months of payments they did. Otherwise, since the article says they may have to extend the term of the loan, my concern is that people will have to do closing costs again and finance at a rate available at that time. So individual may end up rolling closing costs into a higher interest rate.

3/21/2020 12:05:14 PM

None of this is real

https://www.pbs.org/newshour/economy/federal-reserve-to-lend-additional-1-trillion-a-day-to-large-banks

3/21/2020 12:19:39 PM

Remember arguing with a friend who was saying having cash doesn't save you in this instance because of that. Wish I'd of doomsday prepped. Just having a liquid portfolio doesn't help.

3/21/2020 1:11:27 PM

^Because of what?

3/21/2020 1:23:18 PM

Quote :

" How is your money going to work with you?"

I should’ve used less financial language. IMO, if there is no immediate ramification to not paying a bill then why shouldn’t I just go buy some beer with the money instead? Or if the retail apocalypse is about to happen why wouldn’t I use all that bill money to stock up on liquor and cigarettes (or whatever your individual barter strategy is going to be).

Quote :

" While I appreciate the efforts of the banks are doing, I think they are still negative ramifications that individuals may not realize"

This is what I’m talking about. What are the potential pitfalls of some of this bill/mortgage delay stuff. Extending the loan or the bank somehow reworking your payments to make up the missed payments seems like the most obvious. I’d love to skip on a month of my mortgage but that bill in particular makes me the most uneasy.

3/22/2020 8:32:01 AM

So cash is about to become worthless?

3/22/2020 8:58:01 AM

*shrug*

It’s not an impossibility.

3/22/2020 9:23:54 AM

^^OIC

3/22/2020 9:25:25 AM

^^^eventually. when govts cant pay their debts they turn the printing press up to 11 causing hyperinflation

[Edited on March 22, 2020 at 9:27 AM. Reason : s]

3/22/2020 9:26:50 AM

I’m old enough to remember libertarians and Paulites hyperventilating about runaway inflation in 2010 and 2011.

3/22/2020 2:00:13 PM

thats how inflation works but the us dollar is pretty insulated from that. if theres inflation around the world, demand for the dollar will go up relative to other currencies insulating its value against inflation. You wouldn't have to worry unless the problem was especially unique to the US.

3/22/2020 2:55:30 PM

Futures apparently down as far as they can go. Didn’t know there was a limit on futures

3/23/2020 1:32:28 AM

You haven't been paying attention. This has already happened multiple times during the crisis.

3/23/2020 5:33:31 AM

I just assumed they were allowed to go down as much as possible, but a limit makes sense and is prob a good thing

3/23/2020 6:10:00 AM

The first iteration of the economic stimulus plan has been blocked.

https://www.usatoday.com/story/news/health/2020/03/23/coronavirus-live-updates-congress-stimulus-us-deaths-donald-trump/2895096001/

3/23/2020 10:45:33 AM

The current debate amongst DC elites is now a debate of if the lives of a few hundred thousand people is worth more than a quarter of economic activity.

3/23/2020 2:19:14 PM

good stock day today? Looks like folks who've been holding out for bottom are buying it up.

3/24/2020 4:42:56 PM

Is it the real bottom or a sucker's rally?

3/24/2020 6:33:31 PM

Highest put buying volume I've ever seen.

3/24/2020 6:52:41 PM

furloughed 90% of our company's workforce. hopefully we can recover after this shit blows over. now it looks like I'm working for 30. yay! at least I don't have to file for unemployment.

3/24/2020 6:58:24 PM

^^^ you’d think from a psychological standpoint the insane jobless claims we are going to see on Thursday and the massive negative jobs number in 10 days we’ll see would crash the market hard, at least at the open. A lot would be priced in but the numbers will be so devastatingly bad you may see some panic.

3/24/2020 8:56:30 PM

3.3 million jobless claims.

Labor Department started recording numbers in 1967. Previous highest was 685k in 1982.

"Late Wednesday it was revealed that The Cheesecake Factory notified landlords at locations across the country that it doesn't plan to pay rent for the month of April after business came to a halt in the past weeks."

If other retail/restaurant businesses do likewise, there's a hit on commercial real estate.

I guess the one thing with restaurants you didn't think of "is not everyone would do carryout". Cheesecake Factory is only operating 27 out of 294 places nationally. My pseudo sister-in-law was a waitress at a Logan's Roadhouse that decided to completely shut down, so she's completely out of work. But even if they were cooking food and doing carryout, she still wouldn't be working since she was a waitress.

3/26/2020 12:33:26 PM

now everyone can just go work for amazon!

3/26/2020 12:43:27 PM

yeah they can, havent you seen south park?

3/26/2020 2:15:06 PM

https://www.cnbc.com/2020/04/02/weekly-jobless-claims.html

4/2/2020 1:13:14 PM

i get it, a lot of people are jobless but they are not truely jobless.

I have know several people that have been "let go" only told, once this mess clears, they are welcomed back. Some people are furloughed and applying as well.

4/2/2020 1:44:32 PM

So....it's almost like they're not employed! Amazing.

Also not all the places 'temporarily' closing will be reopening, and the number of those places will increase as time goes on.

4/2/2020 1:47:34 PM

if a company has less than <500 employees, they can offer eFMLA and eShortTerm. You can roughly take about 10 weeks off paid with these new plans.

4/2/2020 1:55:08 PM

At work, a few subcontractors were let go because work slowed down a little bit. Another subcontractor I know had his hours reduced to 30

4/7/2020 8:28:15 AM

Been watching rent and housing prices in places I'm interested in moving. Seen some drops already, most notably where I currently live I've seen a few places go from $5000 a month down to $3600 in the most extreme example--though most are more like $4000 to $3900. Seen places cut 1-3% off asking of homes to buy as well.

Haven't followed the Raleigh market but bet it's going to be interesting.

[Edited on April 8, 2020 at 9:13 AM. Reason : A]

4/8/2020 8:56:34 AM