Coronavirus/Economy/Stock Market

[scaredyclassic]

[quote=Coronita][quote=scaredyclassic][quote=Coronita][quote=scaredyclassic]10k meditation retreat?

Jeez.

Deerpark in escondido charges 400, including food. No place in the world could be a better Buddhist meditation retreat than deerpark, at any price

I dont think I could meditate if I’d paid 10k. I’d be distracted by the cost.

I’d be thinking how much each minute of meditation came out to.[/quote]

the guy spent several tend or thousands doing a van conversion too.[/quote]

How do people live like this???!!! I can barely spend a dime.[/quote]

He bought a Dodge cargo van for like $5000, and spent a good $35k on converting it into one of those fancy conversion vans… He financed it of course.

What really surprises me is that despite that they have their credit cards maxxed out, and everything they own is financed… How the hell the can still get new credit to spend more money. It’s as if the credit card companies looks for these people who are already financially messed up and give them even more credit, knowing they will make even more money off of them….Dude, if you walk into their rental, their furniture is like 10x nicer than mine..[/quote]

When we bought our sofa at macys, I used 450$ worth of gift cards I’d accumulated over several years of returned xmas gifts from relatives, and a 20 perc. Coupon, and I waited for a sale.

It was just a couple hundred out of pockets and it still pained me to buy it. Somethings wrong with me.

Now I’m interested in FLOOR LIVING.

Floor Sitting: Do You Spend Enough Time on the Ground?

The theory is, furniture is bad, we should just si t on the floor.

[Coronita]

[quote=scaredyclassic][quote=Coronita][quote=scaredyclassic][quote=Coronita][quote=scaredyclassic]10k meditation retreat?

Jeez.

Deerpark in escondido charges 400, including food. No place in the world could be a better Buddhist meditation retreat than deerpark, at any price

I dont think I could meditate if I’d paid 10k. I’d be distracted by the cost.

I’d be thinking how much each minute of meditation came out to.[/quote]

the guy spent several tend or thousands doing a van conversion too.[/quote]

How do people live like this???!!! I can barely spend a dime.[/quote]

He bought a Dodge cargo van for like $5000, and spent a good $35k on converting it into one of those fancy conversion vans… He financed it of course.

What really surprises me is that despite that they have their credit cards maxxed out, and everything they own is financed… How the hell the can still get new credit to spend more money. It’s as if the credit card companies looks for these people who are already financially messed up and give them even more credit, knowing they will make even more money off of them….Dude, if you walk into their rental, their furniture is like 10x nicer than mine..[/quote]

When we bought our sofa at macys, I used 450$ worth of gift cards I’d accumulated over several years of returned xmas gifts from relatives, and a 20 perc. Coupon, and I waited for a sale.

It was just a couple hundred out of pockets and it still pained me to buy it. Somethings wrong with me[/quote]

I use to do the same thing with the spare change I empty from my pockets into a large jar.

[scaredyclassic]

No more furniture. Just floor life. Maybe a cushion.

Cheap, simple, healthy, no financing

[scaredyclassic]

[quote=Coronita][quote=scaredyclassic][quote=Coronita][quote=scaredyclassic][quote=Coronita][quote=scaredyclassic]10k meditation retreat?

Jeez.

Deerpark in escondido charges 400, including food. No place in the world could be a better Buddhist meditation retreat than deerpark, at any price

I dont think I could meditate if I’d paid 10k. I’d be distracted by the cost.

I’d be thinking how much each minute of meditation came out to.[/quote]

the guy spent several tend or thousands doing a van conversion too.[/quote]

How do people live like this???!!! I can barely spend a dime.[/quote]

He bought a Dodge cargo van for like $5000, and spent a good $35k on converting it into one of those fancy conversion vans… He financed it of course.

What really surprises me is that despite that they have their credit cards maxxed out, and everything they own is financed… How the hell the can still get new credit to spend more money. It’s as if the credit card companies looks for these people who are already financially messed up and give them even more credit, knowing they will make even more money off of them….Dude, if you walk into their rental, their furniture is like 10x nicer than mine..[/quote]

When we bought our sofa at macys, I used 450$ worth of gift cards I’d accumulated over several years of returned xmas gifts from relatives, and a 20 perc. Coupon, and I waited for a sale.

It was just a couple hundred out of pockets and it still pained me to buy it. Somethings wrong with me[/quote]

I use to do the same thing with the spare change I empty from my pockets into a large jar.[/quote]

It maybe makes sense to die penniless.

[Coronita]

Thanks to the covid pandemic, it looks like PG&E dodged a few big bullets…..

https://finance.yahoo.com/news/pg-e-corporation-announces-preliminary-110000537.html

“PG&E Corporation Announces Preliminary Voting Results on Plan of Reorganization”

“PG&E Corporation announced today the preliminary voting results on PG&E Corporation and Pacific Gas and Electric Company’s joint Plan of Reorganization (the “Plan”), which indicate overwhelming acceptance of the Plan by the wildfire victims entitled to vote on the Plan. Based on the preliminary voting results, PG&E believes that it remains on track for Plan confirmation by June 30, 2020, the deadline under AB 1054.

The preliminary results also indicate that all but one of the impaired classes have voted to accept the Plan. The sole dissenting class consists of holders of prepetition securities law claims related to PG&E Corporation common stock; these claims are subordinated pursuant to the provisions of the Bankruptcy Code.”

[teaboy]

Hey Coro,
I’m having a hard time reading thru all the small print, but are the furlough UI payments you’re getting only for employees of companies with 500 people or less, or can anyone claim?
😐

tb

[Coronita]

[quote=teaboy]Hey Coro,
I’m having a hard time reading thru all the small print, but are the furlough UI payments you’re getting only for employees of companies with 500 people or less, or can anyone claim?
😐

tb[/quote]

For the CA “worksharing program”: I don’t think there is a minimum company size requirement, but the requirement is

1. a minimum of two employees AND at least 10% of the regular workforce or a department of the workforce must have been affected.
2. hours AND wages must have been reduced by 10-60%
3. health and retirement benefits must stay the same as before

Company has a few additional reporting requirements, like the company has to estimate a number of layoffs that were avoided by participating in the worksharing program.

Details are here:
https://www.edd.ca.gov/unemployment/Work_Sharing_Program.htm

Requirements
To participate, an employer’s business must meet all of the following requirements:

Be a legally registered business in California.
Have an active California State Employer Account Number.
A minimum of two employees and at least 10 percent of your regular workforce, or a department of the workforce, must be affected by a reduction in hours and wages.
Hours and wages must be reduced by 10 to 60 percent.
Health and retirement benefits must stay the same as before, or they must meet the same standards as other employees who are not participating in Work Sharing.
The employees’ bargaining unit must agree to voluntarily participate and sign the application for Work Sharing.
Affected work units to be covered by the Work Sharing plan, and each participating employee, must be identified by their legal name and Social Security number.
Employees must know in advance that you plan to take part in the Work Sharing program.
Estimated amount of layoffs to be avoided by participating in the Work Sharing program.
All necessary reports and information are provided to the EDD.
Restrictions
Leased, intermittent, seasonal, or temporary service employees cannot participate.
Corporate officers or major stock holders with investment in the company cannot participate.
Work Sharing cannot be used as a transition to a layoff.

[Coronita]

.

[Coronita]

Unemployment numbers keeps going up, but surprisingly don’t see equity markets further tanking. Porque?

[Coronita]

.

[The-Shoveler]

[quote=Coronita]Unemployment numbers keeps going up, but surprisingly don’t see equity markets further tanking. Porque?[/quote]

FANG stocks holding up market mostly is my guess, you look at spyd and it’s still down maybe 30% from high.
(that and it’s proof the fed can hold up any market no matter what).

Zombie market ….

Out most my SLV position (still keeping a little).
Still out of market mostly, too rich for me LOL.

[Coronita]

Is it also because people are getting their UI benefits? I mean. I wasn’t expecting to get $1050/week for being furlowed. That’s an extra $4200/month of unplanned income…$1200/month more than if I were to work 5 days instead of 4.

Consequently, I’m going to drip invest an extra $1200 each month into my vanguard index funds since I wasn’t expecting the extra $1200/month and putting it into and index fund, it can’t go to $0(equivalent of not getting anything extra from UI)

I’ll invest $1200 more while I work less hours until at least July when the $600 federal cheese stops and/or when I have to go back to a 5 day work week and earn less money.

Wait….that sounds so backassward.

[ltsddd]

[quote=Coronita]Unemployment numbers keeps going up, but surprisingly don’t see equity markets further tanking. Porque?[/quote]

Many factors. There’s one that people tend to overlook. The selling was fast and furious that took out a lot of the weak hands – the lemmings, the johnny comes lately, the overly extended joes and the living on the margins janes. I think that phase of selling in Mar and the buying afterwards reestablish the new bases for stocks that is now already factor in the virus, vaccines, unemployment, etc. The stock market seems to have a positive bias towards any good news about the virus vs the bad news.
That said, the indexes are up about 30% from the lows on Mar 23. I would expect people to look for an exit point to lock in their profits at some point. Personally, I plan to liquidate some of my holdings and park it in cash today.

edit:
BTW., the nasdaq is positive for the year. The rally was broad.

[scaredyclassic]

[quote=ltsddd][quote=Coronita]Unemployment numbers keeps going up, but surprisingly don’t see equity markets further tanking. Porque?[/quote]

Many factors. There’s one that people tend to overlook. The selling was fast and furious that took out a lot of the weak hands – the lemmings, the johnny comes lately, the overly extended joes and the living on the margins janes. I think that phase of selling in Mar and the buying afterwards reestablish the new bases for stocks that is now already factor in the virus, vaccines, unemployment, etc. The stock market seems to have a positive bias towards any good news about the virus vs the bad news.
That said, the indexes are up about 30% from the lows on Mar 23. I would expect people to look for an exit point to lock in their profits at some point. Personally, I plan to liquidate some of my holdings and park it in cash today.

edit:
BTW., the nasdaq is positive for the year. The rally was broad.[/quote]

Because none of it is directly tied to reality.

[ltsddd]

[quote=scaredyclassic][quote=ltsddd][quote=Coronita]Unemployment numbers keeps going up, but surprisingly don’t see equity markets further tanking. Porque?[/quote]

Many factors. There’s one that people tend to overlook. The selling was fast and furious that took out a lot of the weak hands – the lemmings, the johnny comes lately, the overly extended joes and the living on the margins janes. I think that phase of selling in Mar and the buying afterwards reestablish the new bases for stocks that is now already factor in the virus, vaccines, unemployment, etc. The stock market seems to have a positive bias towards any good news about the virus vs the bad news.
That said, the indexes are up about 30% from the lows on Mar 23. I would expect people to look for an exit point to lock in their profits at some point. Personally, I plan to liquidate some of my holdings and park it in cash today.

edit:
BTW., the nasdaq is positive for the year. The rally was broad.[/quote]

Because none of it is directly tied to reality.[/quote]

Sadly, you’re correct. But then we have crossed that line many, many moons ago. We all have to adapt and just go with the flow.

BTW., the unemployment numbers are over-inflated. How many teenagers do you know that barely worked for a handful of hours at a boba shop before all this and now getting a windfall of ~$1000/week for unemployment? Shoot, I know of at least a few.

[Author]

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