Chinese Coronavirus 2019-nCoV - Prepare for the Worst Now

[Kane]

https://www.bloomberg.com/news/articles ... oronavirus



Mnuchin doesn't see recession coming. Borders closing globally, airlines cutting flights by 75%, firms temporarily laying off 75% of their staff, etc.

This is why this admin has zero credibility.

[Kane]

https://www.bloomberg.com/news/articles ... 00-billion

Federal Reserve drops fed funds rate to 0% and is boosting assets by $700 Billion.

I guess this does save us from the Fed waiting on data to get where we all know this is going. But now they can only expand/work to affect economy through QE. GOP won't like that....right?

[John Galt]

and dow futures plummet after that happens

its almost like people can see these moves as the floundering gasps to try to fix the situation from the administration right before their head goes under the quicksand

[Kane]

The f**k futures just hit a limit down

f**k

[Kane]

Chinese econ data for January/February

https://www.reuters.com/article/us-chin ... SKBN21307F

This is just for January and February. What China needs to realize now is that with Europe and the US in recession mode demand for their exports will remain muted. So even if they've got everything under control in their country it won't matter much.

As far as recovery goes this seems more predicated on consumer/business sentiment. I don't think that's going to bounce back in "V" form but I'm hoping that it does. I just think this is going to rattle a lot of people.

[Philly]

I've got more free time on my hands just as the weather is starting to break around my parts so I've been driving to nature trails in the Philly area and taking nice long hikes. Suggest anyone who is able to do so do the same in your own neck of the woods. It's safe as long as it's not crowded and it'll help anyone dealing with cabin fever.

[John Galt]

in WWII europe was absolutely devastated. the US? holy shit things were amazing after WWII. the world being devastated and the US being an economic powerhouse fueled ever increasing gains for american workers.

in the aftermath, european countries turned to democratic socialism for saftey nets. we are all in it together. america? didn't matter, everything was going great, lets try to make it go even greater, by decreasing taxes and whatnot

now, with this crisis, all will be impacted. and we will move in the way that europe moved after the wars.

Mitt Romney is already suggesting we send out $1K to ever american, today

[Kane]

Godspeed Luke. Hope you make it through.

CA Bay Area to effectively shut down tonight at midnight.

https://www.sfchronicle.com/local-polit ... 135014.php

[You know who]

Complete overreaction economic suicide

[yoda]

https://www.theatlantic.com/ideas/archi ... er/607969/