Author Topic: The Economy |OT| Guess I'll Just Die?  (Read 29086 times)

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Flannel Boy

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Re: Econ |OT| margin call your ex
« Reply #180 on: April 28, 2020, 12:36:13 PM »
https://ca.reuters.com/article/businessNews/idCAKCN22A26C

Quote
In the April 23-28 Reuters poll of 25 economists Canada’s economy was predicted to have contracted at an annualized rate of 9.8% last quarter and to shrink 37.5% this quarter.

Tripon

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Re: Econ |OT| margin call your ex
« Reply #181 on: April 28, 2020, 12:44:18 PM »
Oil tanking again.

What explains the stock market optimism?

In the U.S.? Major firms literally have an easy access to favorable loans that are easier to pay back via the FED.

Flannel Boy

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Re: Econ |OT| margin call your ex
« Reply #182 on: April 29, 2020, 08:59:11 AM »
1Q GDP annualized, QoQ: -4.8% vs. -4.0% expected


One quarter down, Shosta--but I feel good about quarter two!

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« Last Edit: April 29, 2020, 04:39:23 PM by Nintex »
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Re: Econ |OT| CAPM Crunch
« Reply #185 on: May 05, 2020, 03:59:44 PM »
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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #186 on: May 08, 2020, 12:49:40 AM »
Long ass thread on development and industrialization for Shosta

https://twitter.com/dakekang/status/1257709936437592065
it wasn't that long :P although I did read every linked article. I was aware that there's always been a land issue in India but it's nice to see a lot of the relevant pieces in the same thread. on the other hand...

https://twitter.com/dakekang/status/1257898422348197889

comparing eminent domain to Odisha trying to sell land it literally didn't own :comeon
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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #187 on: May 08, 2020, 05:53:34 PM »


lol
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Nintex

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Re: Econ |OT| CAPM Crunch
« Reply #190 on: May 09, 2020, 06:54:35 AM »
our government 2 months ago: "We will protect all the jerbs! If you take the stimulus money you can't fire anyone!"

our government today: "From June forward, you can take the stimulus and fire people to save the jobs of others"

 :money :success
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Pissy F Benny

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Re: Econ |OT| CAPM Crunch
« Reply #191 on: May 09, 2020, 09:31:14 AM »
dutch directness :tocry
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Re: Econ |OT| CAPM Crunch
« Reply #192 on: May 09, 2020, 11:20:29 AM »
https://www.bloomberg.com/news/articles/2020-05-08/oil-crash-busted-a-broker-s-computers-and-inflicted-huge-losses

Quote
That could help Shah. The day trader in Mississauga, Canada, bought his first five contracts for $3.30 each at 1:19 p.m. that historic Monday. Over the next 40 minutes or so he bought 21 more, the last for 50 cents. He tried to put an order in for a negative price, but the Interactive Brokers system rejected it, so he became more convinced that it wasn’t possible for oil to go below zero. At 2:11 p.m., he placed that dream-turned-nightmare trade at a penny.

It was only later that night that he saw on the news that oil had plunged to the never-before-seen price of negative $37.63 per barrel. What did that mean for the hundreds of contracts he’d bought? He frantically tried to contact support at the firm, but no one could help him. Then that late-night statement arrived with a loss so big it was expressed with an exponent.

 :lol :lol :lol
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Nintex

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Re: Econ |OT| CAPM Crunch
« Reply #193 on: May 11, 2020, 01:08:17 PM »
https://www.bloomberg.com/news/articles/2020-05-08/oil-crash-busted-a-broker-s-computers-and-inflicted-huge-losses

Quote
That could help Shah. The day trader in Mississauga, Canada, bought his first five contracts for $3.30 each at 1:19 p.m. that historic Monday. Over the next 40 minutes or so he bought 21 more, the last for 50 cents. He tried to put an order in for a negative price, but the Interactive Brokers system rejected it, so he became more convinced that it wasn’t possible for oil to go below zero. At 2:11 p.m., he placed that dream-turned-nightmare trade at a penny.

It was only later that night that he saw on the news that oil had plunged to the never-before-seen price of negative $37.63 per barrel. What did that mean for the hundreds of contracts he’d bought? He frantically tried to contact support at the firm, but no one could help him. Then that late-night statement arrived with a loss so big it was expressed with an exponent.

 :lol :lol :lol
Poor james
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shosta

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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #195 on: May 13, 2020, 05:27:32 PM »
i still can't believe the fed is literally printing money to pay off corporate debt while we leave normal people behind. it's just insane
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Tripon

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Re: Econ |OT| CAPM Crunch
« Reply #197 on: May 15, 2020, 07:05:55 PM »

shosta

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Re: Econ |OT| CAPM Crunch
« Reply #198 on: May 15, 2020, 09:21:28 PM »
I don't ever have to pay my hundreds of dollars of JCP credit card debt! :rejoice
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shosta

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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #200 on: May 16, 2020, 01:24:41 AM »
So I was talking to a couple of friends - one is a chemical engineer and the other does traffic analysis - and the most amazing thing to me is that the work that's really most likely to die soon isn't unskilled work, it's white collar stuff. They both agreed without any hedging that their entire department could be completely automated. These are people with challenging jobs and a few years of experience. Can you guys imagine 75% of engineering jobs just disappearing? And being replaced by ML technicians with domain training. It's just crazy.
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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #201 on: May 16, 2020, 01:45:09 AM »
Yeah, my gut feeling is that anything which is an "art" is safe, but things which are fundamentally algorithmic but take a lot of years of training to do competently are vulnerable in the near future. By art I mean something with a significant human interface and a fair amount of subjectivity - your field and most of software probably fits this. Traffic guy, however, spends half of his time staring at satellite photos and then doing formulaic application of domain knowledge. The rest is just make-work in the form of report writing. Law has the opposite problem where the knowledge work isn't automatable but so much of the high skill supporting roles - aggregating relevant cases and the endless paperwork given to paralegals - is the vulnerable part. This isn't me spitballing, these people have looked me straight in the eye and said they have no doubt that their work is fundamentally automatable.
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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #203 on: May 16, 2020, 10:39:20 PM »
So I was talking to a couple of friends - one is a chemical engineer and the other does traffic analysis - and the most amazing thing to me is that the work that's really most likely to die soon isn't unskilled work, it's white collar stuff. They both agreed without any hedging that their entire department could be completely automated. These are people with challenging jobs and a few years of experience. Can you guys imagine 75% of engineering jobs just disappearing? And being replaced by ML technicians with domain training. It's just crazy.

You guys are seriously overestimating the usefulness of current ML tech.

Yeah, my gut feeling is that anything which is an "art" is safe, but things which are fundamentally algorithmic but take a lot of years of training to do competently are vulnerable in the near future.

ML is the biggest art of all.

Though I do hope it can replace layers.  I think it's immoral for a government to create laws that are so complex they require skilled people to interpret them but do not offer this as a free survice.     

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Re: Econ |OT| CAPM Crunch
« Reply #204 on: May 16, 2020, 10:41:11 PM »
So I was talking to a couple of friends - one is a chemical engineer and the other does traffic analysis - and the most amazing thing to me is that the work that's really most likely to die soon isn't unskilled work, it's white collar stuff. They both agreed without any hedging that their entire department could be completely automated. These are people with challenging jobs and a few years of experience. Can you guys imagine 75% of engineering jobs just disappearing? And being replaced by ML technicians with domain training. It's just crazy.

You guys are seriously overestimating the usefulness of current ML tech.

Don't doubt the science of Marxism-Leninism.

Tripon

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Re: Econ |OT| CAPM Crunch
« Reply #205 on: May 16, 2020, 11:09:00 PM »
https://twitter.com/VanityFair/status/1261725309507907585

Shosta couldn't crush wall street's spirit.

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Re: Econ |OT| CAPM Crunch
« Reply #207 on: May 17, 2020, 01:10:04 AM »
I sold my bitcoins btw and made 400 usd :)

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Re: Econ |OT| CAPM Crunch
« Reply #208 on: May 17, 2020, 03:25:07 PM »
They're trying to convince Oregon to let them sell across state lines and expect the feds not to do anything? Sounds extremely questionable

shosta

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Re: Econ |OT| CAPM Crunch
« Reply #209 on: May 17, 2020, 08:15:52 PM »
https://twitter.com/jeannasmialek/status/1262159542193917952

if powell's ready to print then there's basically no excuse for not doing it
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curly

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Re: Econ |OT| CAPM Crunch
« Reply #210 on: May 17, 2020, 08:21:02 PM »
Why would they need an excuse   ??? They don't want to give money to poor people

shosta

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Re: Econ |OT| CAPM Crunch
« Reply #211 on: May 17, 2020, 08:48:50 PM »
you guys are bullying me because it sounds like I don't understand the primary function of the state in capitalism :rage

The thing that's just fucking killing me every day is the total absurdity of the present situation, an absurdity that goes even farther than that demanded by its principal actors. Local acts of rationality summing up to the pursuit of irrational ends. There couldn't be anything more kafkaesque.

it's one thing to read a description of the world and another to sit past the event horizon and have your ego torn apart in a million different directions as psychic annihilation destroys society in a chorus of screams
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Re: Econ |OT| CAPM Crunch
« Reply #212 on: May 17, 2020, 08:52:46 PM »
you guys are bullying me because it sounds like I don't understand the primary function of the state in capitalism :rage

The thing that's just fucking killing me every day is the total absurdity of the present situation, an absurdity that goes even farther than that demanded by its principal actors. Local acts of rationality summing up to the pursuit of irrational ends. There couldn't be anything more kafkaesque.

it's one thing to read a description of the world and another to sit past the event horizon and have your ego torn apart in a million different directions as psychic annihilation destroys society in a chorus of screams
https://twitter.com/Stephaniejing2/status/1262183452255719425

 :kermit
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shosta

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Re: Econ |OT| CAPM Crunch
« Reply #213 on: May 17, 2020, 09:30:17 PM »
How can I not be stressed? It's my proof to myself that I'm still human. If I lose that I lose everything
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curly

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Re: Econ |OT| CAPM Crunch
« Reply #214 on: May 17, 2020, 09:55:48 PM »
jerk off to some hentai, you'll feel better

Tripon

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Re: Econ |OT| CAPM Crunch
« Reply #215 on: May 18, 2020, 10:25:07 PM »

Flannel Boy

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Re: Econ |OT| CAPM Crunch
« Reply #217 on: May 21, 2020, 11:22:52 AM »
Sell your expensive city real estate.

https://twitter.com/tobi/status/1263483496087064579

Tripon

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Re: Econ |OT| CAPM Crunch
« Reply #218 on: May 21, 2020, 11:56:43 AM »
Quote
Georgia’s early move to start easing stay-at-home restrictions nearly a month ago has done little to stem the state’s flood of unemployment claims — illustrating how hard it is to bring jobs back while consumers are still afraid to go outside.

Weekly applications for jobless benefits have remained so elevated that Georgia now leads the country in terms of the proportion of its workforce applying for unemployment assistance. A staggering 40.3 percent of the state's workers — two out of every five — has filed for unemployment insurance payments since the coronavirus pandemic led to widespread shutdowns in mid-March, a POLITICO review of Labor Department data shows.

Georgia's new jobless claims have been going up and down since the state reopened, rising to 243,000 two weeks ago before dipping to 177,000 last week. The state cited new layoffs in the retail, social assistance and health care industries for the continued high rate of jobless claims that have put it ahead of other states in the proportion of its workforce that has been sidelined.

Georgia, which began pushing to resume economic activity on April 24, presents an early reality check as the White House amps up pressure on governors to lift shutdown orders and President Donald Trump’s economic advisers predict jobless claims will nosedive after the reopening. The state’s persistent unemployment numbers suggest that government restrictions aren’t the only cause of skyrocketing layoffs and furloughs — and that the economy might not fully recover until consumers feel safe.

Georgia, one of the last states to impose widespread shutdowns, has loosened restrictions on a broad array of businesses and dine-in restaurants since its stay-at-home order officially expired on April 30. Only bars, nightclubs, theaters, live music venues and amusement parks remain fully shuttered through the end of May.

https://www.politico.com/news/2020/05/21/georgia-reopening-coronavirus-jobs-273070

shosta

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Re: Econ |OT| Baton down the tranches
« Reply #219 on: May 21, 2020, 12:04:57 PM »
that's worthy of a title change :lawd
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shosta

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Re: Econ |OT| Batten down the tranches
« Reply #221 on: May 21, 2020, 12:48:58 PM »
does Joe Weisenthal normally appear in Franczak's replies? :leon
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shosta

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Re: Econ |OT| Batten down the tranches
« Reply #222 on: May 21, 2020, 02:26:50 PM »
https://twitter.com/KurtWagner8/status/1263518791499046912

YOU THOUGHT YOU WERE SAFE?



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I've got Philippine citizenship. See you guys in Baguio  8)
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shosta

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Re: Econ |OT| Batten down the tranches
« Reply #223 on: May 21, 2020, 02:30:37 PM »
https://twitter.com/KurtWagner8/status/1263519909662740491

I need the transcript of this call so bad
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shosta

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Re: Econ |OT| Batten down the tranches
« Reply #224 on: May 21, 2020, 03:00:23 PM »
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shosta

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Re: Econ |OT| Batten down the tranches
« Reply #226 on: May 21, 2020, 09:47:56 PM »
that's what I'm saying, dude! and you know what else? for the first time in my life I finally shit my pants
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Re: Econ |OT| Batten down the tranches
« Reply #227 on: May 21, 2020, 09:53:22 PM »
inshallah :rejoice
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shosta

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Great Rumbler

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Re: Econ |OT| Batten down the tranches
« Reply #229 on: May 21, 2020, 11:33:14 PM »
Local bbq joint I like to frequent has had to take brisket off the menu because prices have nearly tripled in the past few months. They're worried that pork might be going next. :fbm
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Re: Econ |OT| Batten down the tranches
« Reply #230 on: May 22, 2020, 01:25:29 PM »
We call it Transition to Greatness
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Tripon

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benjipwns

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Re: Econ |OT| Batten down the tranches
« Reply #232 on: May 22, 2020, 11:45:09 PM »
Quote
https://twitter.com/dickophrenic/status/1263458506948182016
I bet mall mortgages are amazing, I've never thought about them before now.

shosta

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Re: Econ |OT| Batten down the tranches
« Reply #236 on: May 25, 2020, 03:59:34 PM »
https://twitter.com/CNN/status/1264968234417238017
These people are very uncreative.
Rent them out as:
- Covid shelters for doctors/nurses who want to protect their families
- Porn productions
- Political campaign offices
- temp housing for self-isolation
- Russian/CIA/Mossad spy safe houses
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Tripon

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Re: Econ |OT| Batten down the tranches
« Reply #237 on: May 27, 2020, 11:16:32 AM »
Quote
Fireworks sparked Wednesday morning on the Squawk Box set as CNBC anchor Andrew Ross Sorkin blasted his own colleague Joe Kernen for dismissing the severity of the coronavirus pandemic that has now killed 100,000 Americans. At one point, Sorkin accused Kernen of trying to help his “friend” President Donald Trump “every single morning.”

As the two discussed the recent stock-market gains, the segment grew increasingly heated as Kernen openly bashed Sorkin and “other smart people” for not being able to see why the market is rising despite the current poor state of the economy.

“Joe, you missed it a hundred percent on the way down and you missed 100,000 deaths,” Sorkin snapped back. “So we can have this debate back and forth and you can try to question the questions I’m asking.”

Kernen attempted to talk over Sorkin, prompting the usually mild-mannered business host to angrily interject.

“Hold on, hold on,” Sorkin shouted. “I’m not going to do this with you Joe! Every morning, you try to question the questions I’m asking—these are questions investors are asking every single morning. I’m just trying to get through some of this clutter. I may be right or wrong. Investors may be right or wrong. That’s what makes the market. It doesn’t make people good or bad or right to act the way you are. I’m sorry.”

After a dramatic sigh, Kernen began chiding Sorkin for scolding him as well as lecturing others over the pandemic, causing Sorkin to wave him off and tell him to read the news.

“I’m sorry?” Kernen asked, prompting an incensed Sorkin to exclaim: “No you’re not. No you’re not!”

At this point, Kernen began running down all the things his colleague “panicked” over, such as the virus itself, ventilators, and personal protection equipment, causing Sorkin to lose it.

“Joseph, you didn’t panic about anything,” he shouted as Kernen objected. “One-hundred thousand people died. One-hundred thousand people died, Joe, and all you did was try to help your friend, the president—every single morning on this show. You abused your position!”

Kernen, one of the few non-Fox hosts Trump grants interviews to, claimed Sorin was being “unfair” and that all he’s been trying to do is help “investors keep their cool and keep their heads, and as it turned out that’s what they should have done.”

“Do the news,” Sorkin growled back. “I was not arguing to go sell your stocks, Joseph! I was arguing about people’s lives. Do the news, I’m begging you to do the news, Joseph!”

Kernen, before getting to the news, got in the last word, saying the number of American deaths was terrible “but it was never going to be that we weren’t going to come back and return to normal,” insisting he wasn’t “trying to help Donald Trump.”
https://www.thedailybeast.com/cnbc-anchor-andrew-ross-sorkin-explodes-at-pro-trump-colleague-joe-kernen-you-abused-your-position

https://twitter.com/hmcghee/status/1265636177689882624

shosta

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Re: Econ |OT| Batten down the tranches
« Reply #239 on: May 27, 2020, 03:46:17 PM »
Yup, Millenials are fucked.

It's going to be fun when the zoomer accountant asks: "So what about your retirement savings?"

"Savings?" :kermit
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