Covid-19 Legislation

[teachercd]

Maybe people are not freaking out and selling.  

[BigRedBuster]

4 minutes ago, RedDenver said:

Why pick March 1? Look at the market since April 1 and then tell me what you see.

I explained that above.  It bounced.  The market does that after it takes a big hit.  It's a natural thing in the market.  The market is down about 23% from the high in mid February.  The last month it's been trading fairly flat.

 

What exactly was set up that's so horrible here?

 

And...I picked mid Feb or Mar 1st because that's when the pandemic was gaining steam and people started losing their jobs.  I would think that's relevant.  

[RedDenver]

5 minutes ago, BigRedBuster said:

I explained that above.  It bounced.  The market does that after it takes a big hit.  It's a natural thing in the market.  The market is down about 23% from the high in mid February.  The last month it's been trading fairly flat.

 

What exactly was set up that's so horrible here?

 

And...I picked mid Feb or Mar 1st because that's when the pandemic was gaining steam and people started losing their jobs.  I would think that's relevant.  

The unemployment claims began going up the week of March 21st. So end of March into April is when you should see the effects on the market. Except April ended up being one of the bets Months for the market in decades. Do you honestly not see any disconnect here?

[BigRedBuster]

Just now, RedDenver said:

The unemployment claims began going up the week of March 21st. So end of March into April is when you should see the effects on the market. Except April ended up being one of the bets Months for the market in decades. Do you honestly not see any disconnect here?

No...because I know how the market works and I don't try to see evil in it.

[RedDenver]

6 minutes ago, BigRedBuster said:

No...because I know how the market works and I don't try to see evil in it.

That is why we disagree then. I see how the market works and have problems with how it works.

[BigRedBuster]

1 minute ago, RedDenver said:

That is why we disagree then. I see how the market works and have problems with how it works.

How exactly is that?  People shouldn't be allowed to invest their money in a pandemic?

[RedDenver]

24 minutes ago, BigRedBuster said:

How exactly is that?  People shouldn't be allowed to invest their money in a pandemic?

First there's such a disparity in wealth that while millions lose their jobs others have so much free cash that they can buy such vast quantities of stocks to cause the biggest rise in the market in decades. Not some small bump in the market but historically large.

 

Plus there's the disconnect between people buying into the market despite the massive unemployment numbers. It's like they see that the market is not actually reflective of the economic prospects of many, many Americans. And this is while we hear of millions of businesses possibly going under.

[BigRedBuster]

 

[BigRedBuster]

15 hours ago, RedDenver said:

First there's such a disparity in wealth that while millions lose their jobs others have so much free cash that they can buy such vast quantities of stocks to cause the biggest rise in the market in decades. Not some small bump in the market but historically large.

 

Plus there's the disconnect between people buying into the market despite the massive unemployment numbers. It's like they see that the market is not actually reflective of the economic prospects of many, many Americans. And this is while we hear of millions of businesses possibly going under.

In 2019, 55% of Americans owned stocks. I’ll start spreading the word that they all should shut down their accounts if unemployment goes up. 
 

question, should we put a limit on it like if UE goes up 3% nobody should buy stocks because it’s insensitive?  Or, is it any increase should trigger the ban?  
 

https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx

 

Yeah...this is so horrible.

 

https://www.forbes.com/sites/jackkelly/2020/05/06/despite-the-20-million-jobs-lost-in-april-the-stock-markets-recent-rise-reflects-better-times-may-be-ahead/#42d7c14020fe

Quote

 

However, there is a glimmer of hope on the horizon. The stock market semi-crashed during the start of the COVID-19 pandemic. Last month, the stock market sharply rebounded—setting records. 

The stock market is seen as forward-looking and not measuring the present or the past. Based on the upward trajectory of stock prices, it seems that savvy investors believe that the U.S. will recover from this dire situation. The rise in stock prices reflects the faith of investors to risk their money—betting on businesses reopening, people going back to work and the management of the virus outbreak.

This is not an absolute guarantee, as there can be other reasons for the ascension of the stock prices, such as forced short-covering (Investors who sell stocks short are betting on a market decline. If stocks unexpectedly rise, they have to buy back stock, sending prices higher), short-term and algorithmic trading. However, when large, investment-savvy institutions, wealthy individuals, mutual funds, hedge funds, endowments and pensions start buying, hopefully, it's a signal that they believe things will eventually get better.

 

 

 

Or...I guess everyone should just be doom and gloom and believe nothing will ever get better.

[knapplc]

Way to go, both sides of the aisle!  Way to completely bollox this.

 

 

[teachercd]

People complaining about wealth inequality...it is like short dudes that complain they are aren't tall...

 

Only...in one of those situations the person has some control over the outcome.  

[BigRedBuster]

10 minutes ago, BlitzFirst said:

The figure you're quoting counts 401k's as 'owning stock'.

Ummmm....so?

 

They are still investors and that money goes into institutional investors that manage it for those people who have 401Ks.  That is a significant amount of money that goes into the stock market every day.  I am an administrator for our 401K plan.  Our 401K account has been built up for decades and it's a significant amount of money.  My employees aren't in some top 10% or 1% of Americans.  What am I supposed to do?  Tell the investment manager to not invest anything if unemployment goes up because it's insensitive?  Quite frankly, I would be pissed off if he/she did and I would probably be looking for a new one.  You say that's hyperbole.  Sure....it is.  But, it's no more ridiculous than people being upset that money is being invested in the stock market because they are "speculating" that the economy is going to be strong when everything opens back up.

 

I fail to see how this is so horrible.  The thought that this is some form of scandal or horrible situation is mind boggling to me.

[BigRedBuster]

36 minutes ago, knapplc said:

Way to go, both sides of the aisle!  Way to completely bollox this.

 

 

Well, reading through the recommendations, I don't see how many of them can really be realistic.  

 

Now, if these are "recommendations" meaning, they aren't enforced with penalty...etc.  Fine.  But, facilities just aren't built to do what they recommend.

 

 

 

 

 

[RedDenver]

 

 

[BigRedBuster]

40 minutes ago, BlitzFirst said:

 

Not a single person has said that this saying it's horrible.  Not one person has said  that investing during this time is insensitive.

 

You continue to argue about these things and no one here is saying it...it seems that you're fighting random windmills and strawmen you have constructed.  Try addressing what is actually being said instead of what isn't.

 

The point of all of what was posted here is disconnect between stock performance and company performance and how it relates to the stimulus money that was injected into businesses.

Then explain the reasoning for AOC's tweet.  To me, the only reason for it is to try to claim the people who are investing are horrible for a) doing it and b) having the ability to do it.

 

So, please explain.