Chinese Coronavirus 2019-nCoV - Prepare for the Worst Now

[Kane]

Nope. Just transparency. But they're fighting that in order to preserve the stock market. It's not a coincidence that the Federal Reserve made the statement that they did today.

[John Galt]

the Pope has a cold and has cancelled events for 3 days. he's like 85 and has half a lung from a respiratory disease when he was a kid. he's a prime example of someone who is at severe risk for coronavirus

[Saz]

Shit I was in Newark Airport on Friday and apparently Coronavirus lady in Manhattan came back from Iran through EWR. WHY THE f**k ARE THERE STILL FLIGHTS IN FROM IRAN?!

[Kane]

[Kane]

Huge jump in the stock market today. Suckers.

Earnings reports are still coming and it's not going to be pretty on a quarterly basis. And it's not baked in yet. Stimulus is nice and all but the Fed can only do so much before they embark on quantitative easing (I wonder how welcoming the GOP will be to that under Trump?). Plus I think there's a lot that happened today - ISM PMI was flat (50.1). Indication the fed may do something. Last PCE report was at 1.7% (so underperforming). Unemployment components are ticking up slightly (depending on industry). And the DNC appears to be coalescing around Biden with Klob and Chug out and in support of Bidet.

So the "market" had a lot to be happy about today. But more news about coronavirus is coming, more disruptions, and less profitability.

I wonder if Trump got a happy meal today to celebrate.

[Saz]

[John Galt]

i have a cold. no way of knowing it's coronavirus or just a cold, as a mostly healthy younger person. i have a lot of the symptoms, no fever. working from home i guess, but what can i really do? its not like my country has drive through testing like they do in south korea. heck i don't even know where i can actually get tested. its unlikely i actually have the coronas but still, kinda a shitshow

im mainly worried this is gonna ruin my vacation. hopefully TRUMP is right and we can just wait for april for this to all blow over. global warming to the rescue

[John Galt]

https://www.heraldtribune.com/news/2020 ... quarantine

some people at Sarasota military academy under quarantine after some positive tests with people they were in contact with

on friday, Mike Pence shook hands with people from sarasota military academy

will the latest dem hoax finally take out the president?

[Kane]

[Kane]

I don't understand the Federal Reserve's move here. It's a huge cut based on not much data that's seemingly negative (I understand wanting to get ahead of the curve so maybe that's their angle?), it's fairly early in the onset of this virus, and they don't have much wiggle room with the funds rate back down to 1%. On top of all of that it's not going to do much...demand is being stifled by quarantine/isolation. Making it cheaper to borrow isn't going to get people out of their homes. Which leads me to two other points:

- This looks slightly politically motivated. Trump augured for action publicly and now he's getting it - with unanimous consent from the whole board.
- This looks desperate due to above noted concerns. This actually might've spooked the markets further - is there a liquidity crunch taking place that we don't know about? Also remember that the fed was injecting hundreds of billions weeks ago to deal with this issue (And months ago) because the short term lending rate spiked.
- This looks....unnecessary. The Fed already has limited room to work with. It's effects actually won't do much to counter the given cause. Why drop a 0.5% if you're already looking at a low level to begin with? Save the stock market from reality? How is that a good idea?

Just not liking this move. The feel and the timing is strange and...concerning.