Coronavirus/Economy/Stock Market

[FlyerInHi]

[quote=The-Shoveler]IMO it’s possible this whole thing just becomes a distant bad memory fairly quickly. Time will tell.
[/quote]

Is that a hunch or do you base it on data?

I don’t see how 50 million people (or whatever the final number will be) are recalled to work quickly.

San Diego was going to resume evictions but stopped at the last minute.
Those rents are still due… so the ramifications will be lasting.
https://www.kpbs.org/news/2020/may/07/exclusive-san-diego-sheriff-resume-evictions-today/

[The-Shoveler]

It pays to be an optimist LOL.

If the market is a voting machine then this is over very very quickly IMO, but I accept that it could go the other way. Either way most likely SoCal will be open by June.

Time will tell.

[Coronita]

The other thing I like is Altria. They got wacked even before coronavirus,but it seems like their sales picked up after covid. I guess with so many people staying home stressed, people have started picking up smoking again. I doubt the dividend will stay though. Currently sits at 8%. Doubt it’s sustainable.

[Coronita]

[quote=The-Shoveler]It pays to be an optimist LOL.

If the market is a voting machine then this is over very very quickly IMO, but I accept that it could go the other way. Either way most likely SoCal will be open by June.

Time will tell.[/quote]

When we look back at this period of time, there will be some people who were affected by this, and there will be some people who weren’t nearly as affected that had huge opportunities. I can understand why category 1 people are very concerned and sympathies to them.. Category 2 people will emerge from this better off than going in because things are at a discount and can be acquired on the cheap. Just don’t wait too long, otherwise it ends up being that waiting for 50% off La Jolla beachfront property back during the great recession that never happened. I don’t need rock bottom pricing. A decent discount is good enough for me versus missing the boat. Just be thankful if you have working capital that you can use to take advantage of any bargains. many people probably aren’t as lucky. some don’t have a job, and some don’t have income because their income sources stopped paying them too. If these don’t apply to you, congrats.

I think my dad scored big with Microsoft stock right after the stock market tanked. He sold yesterday just a few weeks and pocketed $100k these past few weeks I think. Unfortunately, I did not inherit his smartness, lol.

[FlyerInHi]

Flu, please start a simulated portfolio of your musings so we can all see the performance.
You are the one who says put your money where your mouth is. And you’re the one who frequently demands personal information, as backup to musings on the economy (that’s not logical, but i digress.).

Just do a simulated portfolio. That would be fun. You maybe pronounced the piggington stock guru.

[The-Shoveler]

They are saying 70% of unemployed are just temporarily furloughed.

[svelte]

SP500 is back to Oct 2019 level.

I think the next big chance for a big selloff is when second quarter results are announced at the end of June.

But that should be temporary too.

[ltsddd]

…and the nasdaq is in the black for the year.

[Coronita]

You guys have nothing to worry about. Pretty soon, every family that makes less than $130,000/year will qualify for a $2000/month stimulus. And in addition, each kid will earn you an additional $2000/month per kid.

https://www.forbes.com/sites/jimwang/2020/05/08/2000-per-person-and-2000-per-child-monthly-economic-crisis-support-act-would-send-payments-to-over-90-of-americans/#5be1d48a3977

I think if that happens, I’ll definitely go into retirement so I don’t need to work, and I’ll just have more kids. I’m being serious. This is sweet. You get paid not to work, exactly like in France. Why work? And for me, the timing can’t be more perfect. I’m wanting to retire soon anyway. Would be nice to collect $48,000/year for doing nothing and I could easily make my passive income disappear so my net income each year is below that threshold. I could take out more loans and bump up operating costs on paper so my passive income is effectively $0. I could stay at home full time and focus on my hobbies and get paid for it.

Please…. Do it! This is awesome.

[FlyerInHi]

What’s different about this recession is that all the deficit hawks have gone into hiding.

The past fights over the deficit and debt ceiling seem like a big waste of time.

[FlyerInHi]

Flu, you can open a charity cup cake cafe.
We might even pay our college students to go to school like they do in Denmark. We will become a bunch of the elitists who speaks several languages.

[Coronita]

Seriously this is awesome, $2000 for each family and $2000 per kid…. Take for instance that security guard that was shot and killed for confronting someone without wearing a mask… According to the news, he and his wife has 9 kids. If this was actually a law in place, instead of working as a security guard and getting killed over a stupid mask, he could have stayed home and earned $2000/month for himself and his wife, and then with 9 kids, $18000/month for his kids.

He could be making over $240k/year just to stay home, better than most single wage owner with no kid with an advanced college degree. I don’t see a downside to this for families with kids. I only see downside to people who are still single and need to work supporting everyone else with families and kids. Just like in France. This is so awesome. We can consider adopting kids as way of making money. I’m, being serious. If you only have one kid, $2000/month probably isn’t a lot.. But there’s an economy of scale such that if you really had a lot more kids, there’s got to be some threshold that the economics of $2000/kid/month makes financial sense and you can earn money from this and that each kid doesn’t really need $2000/month to raise. Again, something a family with two parents could easily juggle at the expense of single people with no kids paying if all they are doing is just staying home raising kids and not working. Octomom would earn $18000/month too!

They can all get free public school and get into a free community college or free college campus in places like NY.

Screw rentals. Have more kids. Generate $1500/month in cash flow per kid. A kid probably can cashflow better than houses in San Diego.

[Coronita]

ah nevermind, someone just pointed out to me they limit the kid count to 3. Shucks… I thought this was a better way to cash flow if it was unlimited.

[Coronita]

But seriously, this would pencil out pretty nicely if this passes.

I think if I stopped working at my regular job, I can massage my passive income to just below $100k/year in order to meet the income requirement by taking on more operating cost (like buying more rentals that cashflow worse).

Then the government will give our family roughly $6000/month for just sitting on our ass. That’s like $172k/year for doing nothing. I have no debt, no loan, and now with reduced income, pay even lower taxes and qualify for other benefits. This might be the ticket to my even much earlier retirement. I think I can live on $172k/year especially when $73k/year is a government guarantee that gets paid for doing absolutely nothing.

And this would help out landlords because then everyone should be able to pay for rent. Section 8 no longer needed…

When is the vote on this suppose to happen?

[outtamojo]

But inflation will go through the roof- oh wait it doesn’t work that way anymore.

[Author]

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