Financial Markets Meltdown

[elkhunter11]

Originally Posted by bdub

Fed just cut rates to zero.

They have gone all in, if the decline resumes, they have little left to try.

[bdub]

Originally Posted by elkhunter11

They have gone all in, if the decline resumes, they have little left to try.

I will be sure curious to see the reaction of the market when futures start trading here shortly. Fire up the printing presses, hello Northern Venezuela.

[fishnguy]

I wonder if it’s just the last convulsions before the pulse goes to zero. Interesting times for sure and we get to watch it from the front row seats.

[Justfishin73]

Wow, nothing like wasting all three shots when the geese are still a mile off

[elkhunter11]

Originally Posted by Justfishin73

Wow, nothing like wasting all three shots when the geese are still a mile off

I am thinking an act of desperation, one last try.

[Justfishin73]

Futures down 3.5% across the board and sinking.

Just halted already

[Buckhead]

Originally Posted by elkhunter11

They have gone all in, if the decline resumes, they have little left to try.

The Fed will take the rates negative if they have to. They have been hinting at that for over a year.

[threeforthree]

Down 1000 pts

[bdub]

Originally Posted by Justfishin73

Futures down 3.5% across the board and sinking.

Just halted already

That didn't take long lol.

[Twisted Canuck]

Desperation rarely breeds confidence.....instead of throwing oil on troubled waters, they threw it on the fire. BOC will follow suit, sooner rather than later is my guess.

[Buckhead]

Originally Posted by Twisted Canuck

Desperation rarely breeds confidence.....instead of throwing oil on troubled waters, they threw it on the fire. BOC will follow suit, sooner rather than later is my guess.

Agreed. It's not going to do much to stabilize the current situation. It's more of a psychological ploy indicating they will do whatever they need to do.

[elkhunter11]

Originally Posted by Buckhead

Agreed. It's not going to do much to stabilize the current situation. It's more of a psychological ploy indicating they will do whatever they need to do.

But if investors see desperation, it could actually add to the panic.

[Buckhead]

Originally Posted by elkhunter11

But if investors see desperation, it could actually add to the panic.

True enough. Although, I don't know how one could panic the markets much more short of a nuclear strike. Everyone's gone off the deep end.
It's not the end of civilization.

[raab]

Originally Posted by Justfishin73

Wow, nothing like wasting all three shots when the geese are still a mile off

Trump knows Remdesivir works. We just need time to get it approved officially and start producing en masse. China is already manufacturing the drug. I believe singapore as well.

[fishnguy]

Oil is down 4.5 - 5.5%.

[fishtank]

Originally Posted by raab

Trump knows Remdesivir works. We just need time to get it approved officially and start producing en masse. China is already manufacturing the drug. I believe singapore as well.

its side effect, increase liver toxicity...

https://www.statnews.com/pharmalot/2...inical-trials/

[KinAlberta]

Interesting.

Note his comment about some people not being eligible to live:

Newt Gingrich: I Am in Italy Amid the Coronavirus Crisis. America Must Act Now—And Act Big | Opinion

https://www.newsweek.com/newt-gingri...pinion-1492270


More:

On the Front Line Against Coronavirus in Locked Down Italy, Deciding Who Lives and Who Dies

“But increasingly over the last few days, those who die are younger. People in their fifties are now on the list. Even though almost everyone who perishes with the virus has underlying conditions, the health care system is now forced to look, essentially, at who is worth saving.

Take the case of Patient One, the 38-year-old Unilever worker who was the first in Lombardy to contract COVID-19 on Feb. 21 after trying desperately to get someone to test him. Because he had no ties to China, he went from clinic to clinic until someone took him seriously, spreading the virus as he went. He got out of intensive care on Monday after nearly three long weeks. He is still testing positive for the virus, but he is no longer on a respirator. He has no underlying conditions and the disease nearly killed him. ...”

https://www.thedailybeast.com/on-the...s-and-who-dies

Failure of leadership?

Trump’s Failing in a Crisis. It’s Biden’s Moment to Step In.

“Much of that vacuum is owed to the fact that the pandemic is an especially difficult challenge for President Donald Trump. It requires bureaucratic acumen, a respect for science, and a lengthy record of accountability and credibility. Trump suffers on all of these fronts. He has consistently downplayed the severity of the virus, overstated the capacity of the government to handle it, and offered far-too-rosy prognostications about its economic impact.

https://www.thedailybeast.com/joe-bi...tial-candidacy

Bolding mine

[fishtank]

the floodgates have been open.. next will the banks reserved be lowered to Zero as well .

[KinAlberta]

Originally Posted by fishtank

the floodgates have been open.. next will the banks reserved be lowered to Zero as well .

Reserve ratio changes won’t make much of a difference. In 2008 buying simply stopped.

[KinAlberta]

Originally Posted by Buckhead

True enough. Although, I don't know how one could panic the markets much more short of a nuclear strike. Everyone's gone off the deep end.
It's not the end of civilization.

For leveraged investors it may be the end of their portfolios.

They knew the risks.

[beltburner]

Why don't they just close the market for a month. gives everyone a chance to figure out whats going on.
Im honestly asking as I have no idea if this is possible

[huntinstuff]

Its the "perfect" time for some railway blockades.....

Wait for it

[elkhunter11]

Originally Posted by beltburner

Why don't they just close the market for a month. gives everyone a chance to figure out whats going on.
Im honestly asking as I have no idea if this is possible

Because the US and Canada are supposedly free countries, and people are allowed to buy and sell their property.

[elkhunter11]

Originally Posted by huntinstuff

Its the "perfect" time for some railway blockades.....

Wait for it

I am thinking that if that happened and people were to run out of essentials as a result, things would soon escalate to violence. Then again, a good beat down might be the best education for some paid protestors.

[bsmitty27]

Tomorrows going to be an interesting day!

[raab]

Originally Posted by fishtank

its side effect, increase liver toxicity...

https://www.statnews.com/pharmalot/2...inical-trials/

Theyve found its temporary. Also most Covid-19 patients have increased LFT's.

[Justfishin73]

Originally Posted by bsmitty27

Tomorrows going to be an interesting day!

**** meet fan is right.

[bdub]

Originally Posted by beltburner

Why don't they just close the market for a month. gives everyone a chance to figure out whats going on.
Im honestly asking as I have no idea if this is possible

Wouldn’t be the first time that it’s closed for a length of time. 9-11 comes to mind. Can’t remember how long. I don’t think it does much good for investor confidence. The opposite actually.

[pikeman06]

Really gotta feel for the folks about to retire or just starting retirement. Property in some areas is not selling and if it is the sellers are taking a hit. Rrsp are beat down to almost half in some cases. I suppose if one was to try to pull it out they would nail you with the tax? That money has already been taxed to death. I have some employer Rrsp and pension that are down 40 percent this month. Glad I pulled out when I did and now sittin on a nice stack of cash but certainly not gloating about it. I've lost before too that's what makes a guy a little gun shy. Hope it all works out but not looking overly promising.

[Buckhead]

Life will go on. People will need to adjust their expectations. We still live in one of the most prosperous countries on this planet. There is a lot to be thankful for.