Author Topic: The Economy |OT| Guess I'll Just Die?  (Read 29080 times)

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Tripon

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shosta

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #61 on: March 18, 2020, 01:25:12 PM »
We're about to distribute like 20% more money over like 80% less supply so I am very excited to see what happens to prices
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james

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #62 on: March 18, 2020, 01:26:32 PM »
Is shutting the market something I should worry about because I have a lot riding right now
:O

Tripon

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #63 on: March 18, 2020, 01:33:45 PM »
Quote
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.

West Texas Intermediate crude oil, the U.S. benchmark, fell by more than 10 percent Wednesday to near $24 a barrel, a level last seen in April 2002.

“Oil prices can go negative,” wrote Paul Sankey, managing director at Mizuho Securities.

CORONAVIRUS CHOKEHOLD ON US WORSENS OIL INDUSTRY'S PAIN

The COVID-19 pandemic has brought the U.S. and global economy to a standstill by prompting “shelter in place” orders, social distancing between people and the cancellation of non-essential travel. The sharp slowdown in economic activity has curtailed the need for oil.

If that weren't enough, Saudi Arabia recently slashed oil prices and raised output after Russia refused to join OPEC in deepening production cuts.

Oil is a 100 million barrel-per-day market, but Sankey says it’s possible that the economic fallout from the pandemic could zap demand, creating a 20 million barrel-per-day surplus.

https://www.yahoo.com/finance/news/oil-prices-could-fall-below-152446634.html

james

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #64 on: March 18, 2020, 01:38:22 PM »
Uh, no, oil prices cannot go below zero?
:O

shosta

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #65 on: March 18, 2020, 01:45:21 PM »
A negative price would mean that the distributor thinks it would cost them more money to transport a producer's oil than they would get when they finally sold it. It doesn't mean the purchase will actually take place, it's just a quote on current costs.
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Nintex

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #66 on: March 18, 2020, 07:11:19 PM »
Fill up the strategic reserves boys, the next war is on me :trumps
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Tripon

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Akala

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Re: Econ |OT| Great & Depressing: Saudi Grift
« Reply #68 on: March 19, 2020, 10:46:07 PM »
we 'lost' like 1/4 (1/8?) or more of the national service industry this week, or at least they were allowed to seek benefits. it's going to be unprecedented. 

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #69 on: March 21, 2020, 01:59:08 PM »
Landlords :yuck
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shosta

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kingv

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #71 on: March 21, 2020, 10:57:05 PM »
https://twitter.com/modestproposal1/status/1241389189490454528

I literally don’t think you could print enough money to worry about bond prices in this environment.

shosta

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Tripon

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Madrun Badrun

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #74 on: March 23, 2020, 09:59:46 AM »
This thread is stupid there is no economy anymore

Who wants to buy a jar of my bath water?  Bidding starts at 5.60 CAD or two barrels of crude. 

Madrun Badrun

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #75 on: March 23, 2020, 02:27:38 PM »
Feds, buy my bathwater, please!  The GOP will finally let you do it. 

shosta

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #76 on: March 23, 2020, 02:28:49 PM »
:whew
Wait, we're just straight up buying corporate debt now? We should have done this a long time ago. Do household debt next pls
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TEEEPO

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #77 on: March 23, 2020, 04:23:45 PM »

Nintex

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #78 on: March 23, 2020, 04:55:53 PM »
https://twitter.com/FT/status/1242061768752533516

:whew
Fed's ready to BRRR indefinitely and the Democrats are dragging their feet over carbon emissions for AIRLINES which won't exist in 7 months.

LMAO fucking idiots.
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benjipwns

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #79 on: March 23, 2020, 06:02:16 PM »
Fed's ready to BRRR indefinitely and the Democrats are dragging their feet over carbon emissions for AIRLINES which won't exist in 7 months.

LMAO fucking idiots.
You don't know what you're quoting means do you.

Nintex

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #80 on: March 25, 2020, 12:58:55 PM »
Quote
If Germany, NL et al turn them down it will be huge!

In the midst of the corona crisis the Dutch are not taking on the French debt and the French will never accept the price the Germans want them to pay which is sound fiscal policy :snob
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BisMarckie

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #81 on: March 25, 2020, 01:47:02 PM »
lol you want that Benz or Beamer regardless, have fun driving PSA made shitboxes Europe. :heh

Germany will keep the Eurozone hooked on their credit, they will never sign a common debt issuance, even if that results in tanking the Euro and an outcry from parts of the electorate who went ballistic during the Greece crisis.
« Last Edit: March 25, 2020, 02:11:12 PM by BisMarckie »

shosta

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #82 on: March 26, 2020, 11:55:09 AM »
Quote
Americans displaced by the coronavirus crisis filed unemployment claims in record numbers last week, with the Labor Department reporting Thursday a surge to 3.28 million.
They were expecting 2 million :larry
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Nintex

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #83 on: March 27, 2020, 04:44:42 AM »
Quote
If Germany, NL et al turn them down it will be huge!

In the midst of the corona crisis the Dutch are not taking on the French debt and the French will never accept the price the Germans want them to pay which is sound fiscal policy :snob
After a 6 hour video call last night the Dutch and Germans blocked the Eurobonds

 :birb
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shosta

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Re: Econ |OT| Paper Mario and the Trillion Dollar Coin
« Reply #84 on: March 27, 2020, 06:08:18 PM »
Quote
The U.S. mortgage finance system could collapse if the Federal Reserve doesn’t step in with emergency loans to offset a coming wave of missed payments from borrowers crippled by the coronavirus pandemic.

Congress did not include relief for the mortgage industry in its $2 trillion rescue package — even as lawmakers required mortgage companies to allow homeowners up to a year's delay in making payments on federally backed loans.

When individuals stop making payments on their home mortgages, the companies that handle the loans and process those payments, so-called mortgage servicers, are still on the hook: They're legally obligated to keep sending money to insurers and investors in mortgage-backed securities, the giant bundles of home loans that are packaged and sold on the securities markets.

Now industry executives and regulators are worried that Congress's generosity toward homeowners could wipe out those companies, causing investors not to get paid and potentially bankrupting the entire mortgage finance system — a domino effect that would make it much harder for borrowers to access credit to buy homes.

We're playing the hits!
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shosta

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Re: Econ |OT| And I'll Blow Your House Down
« Reply #85 on: March 30, 2020, 02:52:26 AM »
Quote
The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve that were intended to help rescue the mortgage market.

At issue are the Fed’s unprecedented $183 billion of purchases last week of mortgage-backed securities. The purchases were meant to drive down rates, and they did.

But together with the storm that gripped financial markets from the coronavirus, they also effectively blew up a widespread hedge that mortgage bankers use to protect themselves against rate increases. The hedge pays them if the prevailing rate in the market is higher than the rate than the mortgage rate they locked with the customer.

The system works well unless mortgage rates are highly volatile. It is generally considered to be a safe trade: the hedge simply protects the lender against higher rates until the mortgage closes. But compounding the problem, many customers couldn’t close on their loans because of quarantines, leaving the mortgage lenders with only the cost of the hedge and no off-setting loan.

The huge volatility in mortgage bonds created massive margin calls from the broker-dealers, who wrote the hedges, to their mortgage bankers.
the fed accidentally destroyed the housing market while it was trying to stabilize it :dead :dead :dead
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benjipwns

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Re: Econ |OT| maybe we should stop doing mortgage backed securities
« Reply #86 on: March 30, 2020, 03:04:47 AM »
Maybe the member banks should have informed them about it first. :karen

Nintex

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Re: Econ |OT| margin call your ex
« Reply #87 on: March 30, 2020, 10:01:21 AM »
Don't worry we'll just brrrrrrrrr

The Democrats will accept another $5 trillion bailout if *checks notes* solar panels are subsidized again and Boeing reduces carbon emissions.
Also every American will get more direct help as they receive a free coupon to get 1 Happy Meal or Subway Sandwich delivered.
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Madrun Badrun

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Re: Econ |OT| margin call your ex
« Reply #88 on: March 30, 2020, 02:22:49 PM »

shosta

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Re: Econ |OT| margin call your ex
« Reply #89 on: March 30, 2020, 08:43:46 PM »
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shosta

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Re: Econ |OT| margin call your ex
« Reply #90 on: March 30, 2020, 09:28:02 PM »
Why? It's already pretty dense. Why don't we just cap rent and and let developers focus on lower density cities that have room to grow? There is so much space in America.
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benjipwns

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Re: Econ |OT| margin call your ex
« Reply #91 on: March 30, 2020, 09:29:01 PM »
Tabris just had a heart attack. He doesn't even visit here but he just knew.

shosta

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Re: Econ |OT| margin call your ex
« Reply #92 on: March 30, 2020, 09:30:27 PM »
He lives in SF, not NYC :hitler

possibly he moved to Vancouver, I can't remember
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curly

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Re: Econ |OT| margin call your ex
« Reply #93 on: March 30, 2020, 09:39:03 PM »
https://www.nytimes.com/2020/03/30/business/economy/coronavirus-economic-stimulus-taxes.html

Quote
WASHINGTON — As lawmakers prepare for another round of fiscal stimulus to address economic fallout from the coronavirus pandemic, Speaker Nancy Pelosi suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California.

The move to lift a limit on the state and local tax deduction, or SALT, would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households — nearly all of which earn at least $100,000 a year. More than half the benefits of such an effort would go to millionaires.

"pElOsI iS tHe ReAl PrEsIdEnT"--Paul Krugman

shosta

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Re: Econ |OT| margin call your ex
« Reply #94 on: April 01, 2020, 05:25:46 PM »
Quote
In a more modest plan, the Dutch government wants the EU to set up a smaller €10-€20bn fund to be “donated” to southern economies fighting the pandemic.
:pacspit

Quote
Klaus Regling, ESM managing director, said this week that it would take up to three years to set up a new European institution to issue coronabonds.
:picard
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Nintex

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Re: Econ |OT| margin call your ex
« Reply #95 on: April 01, 2020, 05:45:54 PM »
Quote
In a more modest plan, the Dutch government wants the EU to set up a smaller €10-€20bn fund to be “donated” to southern economies fighting the pandemic.
:pacspit

Quote
Klaus Regling, ESM managing director, said this week that it would take up to three years to set up a new European institution to issue coronabonds.
:picard
This will end with Mark Rutte as the President of the European Federation.
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shosta

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Re: Econ |OT| margin call your ex
« Reply #96 on: April 03, 2020, 10:36:41 PM »
This is why Chavez tried to make an alternative development fund for Latin America :tocry
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shosta

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Re: Econ |OT| margin call your ex
« Reply #97 on: April 06, 2020, 09:14:34 PM »
Wells Fargo says it can't make any more loans because it hit its asset cap and is trying to get the cap removed  :doge

[in a hushed tone] this is the same as printing money
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shosta

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Re: Econ |OT| margin call your ex
« Reply #98 on: April 06, 2020, 09:17:38 PM »


:doge :doge :doge
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benjipwns

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Re: Econ |OT| margin call your ex
« Reply #99 on: April 07, 2020, 04:15:23 AM »
got a hot tip about the economy through 2026 thanks to an insider, how do i short stonks for "the economy"
« Last Edit: April 07, 2020, 04:19:46 AM by benjipwns »

Nintex

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Re: Econ |OT| margin call your ex
« Reply #100 on: April 07, 2020, 07:37:18 AM »
(Image removed from quote.)

:doge :doge :doge

Larry da god  :preach

Never underestimate the spending of a drunk  :mynicca
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shosta

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Re: Econ |OT| margin call your ex
« Reply #101 on: April 07, 2020, 02:34:27 PM »
Quote
An increase, from 2.5% to 10%, in the maximum share of unsecured debt instruments issued by any single other banking group in a credit institution’s collateral pool. This will enable counterparties to benefit from a larger share of such assets.
what could possibly go wrong
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Nintex

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Re: Econ |OT| margin call your ex
« Reply #102 on: April 07, 2020, 02:41:39 PM »
Nothing, China, Russia and the poors should just accept that the EU and US are going to brrrrrrrr more money into existence and get a 'free money card' this year because Corona is difficult.
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VomKriege

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Re: Econ |OT| margin call your ex
« Reply #103 on: April 08, 2020, 02:04:34 PM »
I think France is already officially in recession according to our local statistical offices and the talking point of "biggest economic slowdown since 1945" has been thrown out here.
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Nintex

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Re: Econ |OT| margin call your ex
« Reply #104 on: April 08, 2020, 02:18:27 PM »
I think France is already officially in recession according to our local statistical offices and the talking point of "biggest economic slowdown since 1945" has been thrown out here.
Some parties here want some sort of economic 'kickstart' but it's not exactly clear what it would look like.
Other than that we're mostly hard at work blocking Eurobonds and debt relief for Italy and Spain from every possible angle.
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VomKriege

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Re: Econ |OT| margin call your ex
« Reply #105 on: April 08, 2020, 02:32:37 PM »
It's gonna be a bit difficult to kick-start anything while the live entertainment & hospitality sector are 100% closed. Hopefully in France and countries with similar schemes for benefits, a lot of people will have some disposable income to burn that they couldn't use for two months but it's going to be a white year for tourism, sports, etc...
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shosta

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Re: Econ |OT| margin call your ex
« Reply #106 on: April 08, 2020, 02:36:05 PM »
This is also why I think the US will exit its recession sooner than Europe does, like last time. We're just so much more prepared to spend whatever it takes.
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shosta

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shosta

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Re: Econ |OT| margin call your ex
« Reply #108 on: April 09, 2020, 02:48:24 AM »
Quote from: FT
The Bank of England will directly finance the extra spending needs of the UK government on a temporary basis, the government announced on Thursday, allowing the Treasury to bypass the bond market.
the magic money tree is finally here :hyper
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Nintex

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Re: Econ |OT| margin call your ex
« Reply #109 on: April 09, 2020, 03:11:13 AM »
In Europe there's a lot of museums, local restaurants and other small business barely running a profit which unlike some miracle happens will all go under. I read that Oxfam Novib expects 500 million people will be pushed back into poverty reversing 10 years of improved welfare in the poorest areas of the world.
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Pissy F Benny

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Re: Econ |OT| margin call your ex
« Reply #110 on: April 09, 2020, 01:22:14 PM »
Where are my boris bucks  :uguu
(ice)

shosta

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Re: Econ |OT| margin call your ex
« Reply #111 on: April 09, 2020, 01:23:39 PM »
Sorry bud, the money printer's only for the 1%! :bolo
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Nintex

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Re: Econ |OT| margin call your ex
« Reply #112 on: April 09, 2020, 01:57:22 PM »
Today the Dutch government wired the first 280 million or so in aid to companies with about 700 million in requests already in.
It basically works like this, you fill in last years revenue, you fill in your expected revenue over the next 3 months and they pay for up to 90% of all the wages in advance.

The only condition is that:
1. You don't fire anyone
2. You pay back the money in case revenues are better than expected

There's also the quick relief fund, this allows small businesses to collect 4000 Euro immediately no strings attached to pay for rent and such.
And of course loan guarantees.

It's early days but for now that might mitigate some of the economic blows. However we will have to learn to live in a 'social distancing' society even if the regulations are lifted.
Our PM basically said that we shouldn't expect to see crowded trains and festival for years and it'll probably never be the same after this.
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VomKriege

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Re: Econ |OT| margin call your ex
« Reply #113 on: April 09, 2020, 02:35:52 PM »
https://twitter.com/JavierBlas/status/1248284882834534402

How flexible is the production pipeline ? We always hear about OPEC or the Saudis deciding to open or close the faucet but I imagine decreasing in a pinch is maybe not feasible...
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who is ted danson?

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Re: Econ |OT| margin call your ex
« Reply #114 on: April 09, 2020, 06:25:13 PM »
⠀⠀⠀⠀⠀

VomKriege

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Re: Econ |OT| margin call your ex
« Reply #115 on: April 10, 2020, 09:06:47 AM »
On the bright side : Numbers & Stonks can only go up from there. Schopenhauer ! Schumpeter ! Wurst !
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Tripon

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shosta

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Re: Econ |OT| margin call your ex
« Reply #117 on: April 16, 2020, 08:51:40 PM »
Just seeing all the sales at the store and reading about wage collapses in journalism etc... so much for "sticky prices" :heh
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Momo

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Re: Econ |OT| margin call your ex
« Reply #118 on: April 17, 2020, 02:34:14 AM »
what the current corona virus meta for investments?

Propagandhim

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Re: Econ |OT| margin call your ex
« Reply #119 on: April 20, 2020, 07:51:57 AM »