Author Topic: The Economy |OT| Guess I'll Just Die? (Read 29375 times)

Flannel Boy · « **Reply #240 on:** May 28, 2020, 11:17:44 AM »

https://twitter.com/nytimes/status/1265984813015670784

CatsCatsCats · « **Reply #241 on:** May 28, 2020, 11:23:24 AM »

Time to release the UBI

shosta · « **Reply #242 on:** May 28, 2020, 02:37:27 PM »

https://twitter.com/TheStalwart/status/1266069886494748675

Nintex · « **Reply #243 on:** May 28, 2020, 04:55:57 PM »

https://twitter.com/SMerler/status/1265677998440812545

EU's latest wealth transfer plan is effectively death on arrival.
Dutch financial press and economists are calling on Italy to sell their gold reserves first.

shosta · « **Reply #244 on:** May 28, 2020, 08:36:18 PM »

https://twitter.com/sarahsolfails/status/1266158288292503555

the economy will collapse

shosta · « **Reply #245 on:** May 28, 2020, 10:16:48 PM »

https://twitter.com/Claudia_Sahm/status/1266185161563156480

Quote

I don’t see the case for a multiyear depression.

Flannel Boy · « **Reply #246 on:** May 29, 2020, 12:20:23 PM »

https://www.frbatlanta.org/cqer/research/gdpnow

Quote

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -51.2 percent on May 29

-51.2 Don't challenge shosta to a race. He'll cut off your legs just to be sure.

shosta · « **Reply #247 on:** May 29, 2020, 12:23:16 PM »

jakefromstatefarm · « **Reply #248 on:** May 29, 2020, 02:47:56 PM »

admire the push for degrowth

shosta · « **Reply #249 on:** May 29, 2020, 04:03:25 PM »

https://twitter.com/conorsen/status/1266346748575920128

Nintex · « **Reply #250 on:** May 29, 2020, 04:10:58 PM »

So has an economist made the case for riots shortening the recession yet?

shosta · « **Reply #251 on:** May 29, 2020, 07:27:03 PM »

https://twitter.com/ernietedeschi/status/1266473496927928321

shosta · « **Reply #252 on:** June 03, 2020, 11:17:25 AM »

https://twitter.com/TheStalwart/status/1268191348362039297

We get May numbers in a few days from the BLS. Can't wait!

Tripon · « **Reply #253 on:** June 04, 2020, 04:30:23 PM »

https://twitter.com/MichaelRStrain/status/1268528745620672514

shosta · « **Reply #254 on:** June 04, 2020, 04:38:32 PM »

"hello yes I'd like a research grant"
"What do you propose to research?"
"whether or not lockdowns increase unemployment"

Nintex · « **Reply #255 on:** June 04, 2020, 04:41:50 PM »

Me too, I'll look into riots and arrests.

Mandark · « **Reply #256 on:** June 04, 2020, 05:28:59 PM »

Staring with envy at the bottom left corner of that chart.

shosta · « **Reply #257 on:** June 04, 2020, 05:33:19 PM »

If you remove US and Canada that chart looks like almost every country can keep its unemployment under control no matter the outbreak intensity

Mandark · « **Reply #258 on:** June 04, 2020, 05:39:56 PM »

Suspect that chart is showing two things: developing countries can't effectively put a fifth of their economy on ice in the same way as rich countries, and measures of unemployment become less comparable across countries in a pandemic with varying government responses (ie you're unemployed if the government's paying your wages through UI, but not if it's paying your wages through your employer).

shosta · « **Reply #259 on:** June 05, 2020, 10:46:14 AM »

shosta · « **Reply #260 on:** June 05, 2020, 11:07:38 AM »

https://twitter.com/JustinWolfers/status/1268900462318755842

https://twitter.com/JustinWolfers/status/1268906510341541891

Nintex · « **Reply #261 on:** June 05, 2020, 12:54:32 PM »

What's he talking about. Just another doomsday economist like *checks notes* Larry Kudlow who predicted far higher unemployment.
These numbers are great. Operation Warp Speed is in full gear we are transitioning to greatness.

This can't possibly go wrong. People are very happy. Just look at all of them literally going outside to celebrate the reopening.
Imagine the number of fences needed to protect government properties and the jobs that will bring.

Soon we're gonna be drowning in great law enforcement and political campaign jobs.
Plus the great opportunities of nuclear testing.
Obama said it would never return but he was clearly wrong on nuclear just as he was on coal.

Mandark · « **Reply #262 on:** June 05, 2020, 06:42:28 PM »

https://twitter.com/CNBC/status/1268927124452380672

Adventures in data visualization.

shosta · « **Reply #263 on:** June 05, 2020, 06:44:35 PM »

I have never seen such a worthless graph in my life

Phoenix Dark · « **Reply #264 on:** June 05, 2020, 07:00:56 PM »

https://twitter.com/JStein_WaPo/status/1268900842381475840

if only we had a UCLA grad/econ titan to explain all this for us.

shosta · « **Reply #265 on:** June 06, 2020, 09:55:51 PM »

https://twitter.com/adam_tooze/status/1269438591534608384

ridiculous

Crash Dummy · « **Reply #266 on:** June 07, 2020, 03:58:04 AM »

Quote from: Phoenix Dark on June 05, 2020, 07:00:56 PM

https://twitter.com/JStein_WaPo/status/1268900842381475840

if only we had a UCLA grad/econ titan to explain all this for us.

Nintex · « **Reply #267 on:** June 08, 2020, 12:54:39 PM »

Quote from: Esch on June 08, 2020, 11:37:38 AM

https://twitter.com/ftworldnews/status/1269917825633865728

Quote
Worse may still be to come after German factory orders plunged 25.8 per cent in April, the largest-ever monthly decline and almost double the previous record set only the month before.

Figures released on Thursday showed car sales in Germany halved in May, in comparison with the same month last year, despite car dealerships having been open since the end of April. Total car production in the first five months of the year fell to lows not seen since 1975.

Strange, in the Netherlands car sales are up

Nintex · « **Reply #268 on:** June 08, 2020, 02:22:29 PM »

https://twitter.com/CNBCnow/status/1269987544042700801

shosta · « **Reply #269 on:** June 08, 2020, 02:24:36 PM »

Last week Kramer (I know, I know) called this the greatest upward wealth transfer in history because small businesses were collapsing while the fed was bailing out finance capital and I've gotta agree, shit's so fucked and there's no justice in this country. It just makes me unspeakably mad.

shosta · « **Reply #270 on:** June 08, 2020, 05:37:18 PM »

https://www.nber.org/cycles/june2020.html

Alright Flannel Boy, you lost.

Flannel Boy · « **Reply #271 on:** June 09, 2020, 01:07:23 PM »

Quote from: shosta on June 08, 2020, 05:37:18 PM

https://www.nber.org/cycles/june2020.html

Alright Flannel Boy, you lost.

Money sent.

Stupid Canadian dollar.

shosta · « **Reply #272 on:** June 09, 2020, 01:09:37 PM »

Canadians are truly an honorable people

Flannel Boy · « **Reply #273 on:** June 09, 2020, 01:12:46 PM »

Unlike Americans who work with Chinese labs to win a bet!

Pissy F Benny · « **Reply #274 on:** June 09, 2020, 02:15:55 PM »

You should have just killed yourself to get out of paying like James did

Crash Dummy · « **Reply #275 on:** June 09, 2020, 02:20:30 PM »

Quote from: Piss Benoit on June 09, 2020, 02:15:55 PM

You should have just killed yourself to get out of paying like James did

What happened to him? Did he lose all his money or did he make a boatload and is self-quarantined on a mega yacht now?

shosta · « **Reply #276 on:** June 09, 2020, 02:31:31 PM »

He doubled down on his puts and lost everything I think

Nintex · « **Reply #277 on:** June 09, 2020, 02:45:47 PM »

The investment in the James Fund was well worth it

Tripon · « **Reply #278 on:** June 11, 2020, 04:14:34 PM »

https://twitter.com/AP/status/1271173306918584323

I vote to ban Shosta from making another bet for the rest of his life.

Nintex · « **Reply #279 on:** June 12, 2020, 07:28:45 PM »

https://twitter.com/jsmauro13/status/1270415543657529350

BisMarckie · « **Reply #280 on:** June 12, 2020, 07:56:04 PM »

Quote from: Nintex on June 12, 2020, 07:28:45 PM

https://twitter.com/jsmauro13/status/1270415543657529350

James is "trading" with these 10 year old boys, isn't he?

Nintex · « **Reply #281 on:** June 14, 2020, 06:41:23 AM »

https://twitter.com/business/status/1272115840201166851

10 year old boys, Redditors and Dave Portnoy

What could possibly go wrong

I want to join in on the fun but none of this is available in Euroland

Mandark · « **Reply #282 on:** June 16, 2020, 10:13:04 AM »

https://twitter.com/ernietedeschi/status/1270688008619077634

shosta · « **Reply #283 on:** June 17, 2020, 06:03:03 PM »

Where is that, Venezuela?

team filler · « **Reply #284 on:** June 17, 2020, 06:38:34 PM »

shosta · « **Reply #285 on:** June 18, 2020, 11:47:35 AM »

Quote

Weekly jobless claims stayed above 1 million for the 13th consecutive week as the coronavirus pandemic continued to hammer the U.S. economy.

First-time claims totaled 1.5 million last week, higher than the 1.3 million that economists surveyed by Dow Jones had been expecting. The government report’s total was 58,000 lower than the previous week’s 1.566 million, which was revised up by 24,000.

Propagandhim · « **Reply #286 on:** June 18, 2020, 12:23:16 PM »

https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-commits-suicide-after-seeing-a-730000-negative-balance/#50a3440f5928

20 year old kid kills himself over an interface miscommunication. He thought RH leveraged him a million dollars, when he put on a trade with 2 legs that expired at different times. When the losing end expired, it only showed the uncompensated loss. He was going to be credited the other end if he simply waited a few more days, and only be indebted to the initial cost of the trade that he agreed to before he jumped in. He had no idea. What a tragic waste.

RobinHood should really not post one leg of the debt until the complete trade is over to avoid this. They're well aware they have a lot of new traders on their platform.

BIONIC · « **Reply #287 on:** June 18, 2020, 12:49:43 PM »

Quote from: Propagandhim on June 18, 2020, 12:23:16 PM

https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-commits-suicide-after-seeing-a-730000-negative-balance/#50a3440f5928

(Image removed from quote.)

20 year old kid kills himself over an interface miscommunication. He thought RH leveraged him a million dollars, when he put on a trade with 2 legs that expired at different times. When the losing end expired, it only showed the uncompensated loss. He was going to be credited the other end if he simply waited a few more days, and only be indebted to the initial cost of the trade that he agreed to before he jumped in. He had no idea. What a tragic waste.

RobinHood should really not post one leg of the debt until the complete trade is over to avoid this. They're well aware they have a lot of new traders on their platform.

shosta · « **Reply #288 on:** June 21, 2020, 09:36:47 PM »

this is a shitpost but I've been rereading some Randall Wray lately and the thing that strikes me the most is that he seems deeply sick in some way. like he's super unwell mentally. like underneath those jeans he wears diapers and the details of his FetLife account would ruin his career

Mandark · « **Reply #289 on:** June 22, 2020, 04:30:06 PM »

https://www.nytimes.com/2020/06/21/us/politics/coronavirus-poverty.html

Quote from: New York Times

WASHINGTON — An unprecedented expansion of federal aid has prevented the rise in poverty that experts predicted this year when the coronavirus sent unemployment to the highest level since the Great Depression, two new studies suggest. The assistance could even cause official measures of poverty to fall.

shosta · « **Reply #290 on:** June 22, 2020, 04:47:23 PM »

Too bad it's ending in July

Mandark · « **Reply #291 on:** June 22, 2020, 04:50:24 PM »

The important thing is that we don't learn any lessons from this.

Nintex · « **Reply #292 on:** June 22, 2020, 05:01:16 PM »

Quote from: Mandark on June 22, 2020, 04:30:06 PM

https://www.nytimes.com/2020/06/21/us/politics/coronavirus-poverty.html

Quote from: New York Times
WASHINGTON — An unprecedented expansion of federal aid has prevented the rise in poverty that experts predicted this year when the coronavirus sent unemployment to the highest level since the Great Depression, two new studies suggest. The assistance could even cause official measures of poverty to fall.

Thank you Mr. Trump

Quote from: shosta on June 22, 2020, 04:47:23 PM