cbchurch

with disruption in the food supply......

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Remember when people actually used to save money before they bought something?  Now people just take out loans or use credit cards.  Our entire economy is built on credit.  It’s a real problem.  It doesn’t surprise me one bit that so many people struggle immediately after losing their jobs.
 

Regarding the recent run up in the market, it’s a forward looking indicator.  I agree there is to much optimism about how quickly our economy will recover.  I just don’t see it and personally feel it will be a few years at best.  I’m sitting on cash waiting for the retest of the March lows which will come later this year IMO

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8 hours ago, frezzy said:

Remember when people actually used to save money before they bought something?  Now people just take out loans or use credit cards.  Our entire economy is built on credit.  It’s a real problem.  It doesn’t surprise me one bit that so many people struggle immediately after losing their jobs.
 

Regarding the recent run up in the market, it’s a forward looking indicator.  I agree there is to much optimism about how quickly our economy will recover.  I just don’t see it and personally feel it will be a few years at best.  I’m sitting on cash waiting for the retest of the March lows which will come later this year IMO

Every contractor up my way is still bombed with work. I’m busy thru August as of right now with work. 

Edited by gray gables

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I think the stock market is pure speculation. Right now people and institutions are speculating that the economy is going to recover soon so buy now. A few days of upward movement snowballs and others jump in and buy. If you have a long time horizon and have some extra funds it may be a good time to buy. Remember there are billions of dollars being managed in this country plus you have outside investors. Money is constantly moving in and out of the market. 

Unfortunately I pulled the trigger to quick and invested some money just as the market started to crash. In the next couple of weeks it dropped a huge amount.  Now I am almost even again. I was thinking about investing more at the bottom but was waiting to see if it was still going to go down. I’m still waiting and the market is up.  Can never time the market. 

 

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9 hours ago, frezzy said:

....  I agree there is to much optimism about how quickly our economy will recover.  I just don’t see it and personally feel it will be a few years at best.  I’m sitting on cash waiting for the retest of the March lows which will come later this year IMO

 

Those are my sentiments as well.

.

Quick bear markets are rare......weeks back, stocks had their best week in 46 years. Proceed with caution….still there are those that will say, "this time is different". 

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10 hours ago, Running Ape said:

but people are buying treasury notes

Well, no, they are not. 

 

And I see Bob gets what I said about the Fed.

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2 mins ago, Steve in Mass said:

Well, no, they are not. 

 

And I see Bob gets what I said about the Fed.

As I said yesterday, the fed is pumping trillions in liquidity in the economy. The word stimulus is a misnomer. They're not trying to stimulate anything. Rather just prevent the whole mess from crashing, and sliding into a depression.

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2 mins ago, bob_G said:

As I said yesterday, the fed is pumping trillions in liquidity in the economy. The word stimulus is a misnomer. They're not trying to stimulate anything. Rather just prevent the whole mess from crashing, and sliding into a depression.

Yup..........

 

And they are the ones buying the T-Bills too.

 

Hope everyone is happy that their grandchildren and great grandchildren will be the ones that suffer for this. Ironically, we have no children, so I shouldn't care, but I am one of the few that DO (and then have to take crap for it.)

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Meanwhile, the big banks handling all the loans to the small businesses(who are days./weeks away from closing permanently in some cases) have made over 10 billion in fees from the transactions.  

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23 hours ago, gray gables said:

Every contractor up my way is still bombed with work. I’m busy thru August as of right now with work. 

I work on Cape for residential design and  build firm. We have  not  flinched in work load through the shut down,  construction  has not stopped.  

People who have  money,  are still proceeding with new homes. Expect an increase as soon as the StayHome order is  lifted.

During the  market  crash of 2009, our firm and building efforts were also unaffected. 

 

Its going to be a feast or famine economy in months ahead.

Many retailers will be shutting, while others  will flourish.

Everyone is going to be  making  adjustments to the post virus era for a while. 

 

 

 

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24 mins ago, FishRatz said:

I work on Cape for residential design and  build firm. We have  not  flinched in work load through the shut down,  construction  has not stopped.  

People who have  money,  are still proceeding with new homes. Expect an increase as soon as the StayHome order is  lifted.

During the  market  crash of 2009, our firm and building efforts were also unaffected. 

 

Its going to be a feast or famine economy in months ahead.

Many retailers will be shutting, while others  will flourish.

Everyone is going to be  making  adjustments to the post virus era for a while. 

 

 

 

Whereabouts on the cape are you? 

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4 hours ago, FishRatz said:

I work on Cape for residential design and  build firm. We have  not  flinched in work load through the shut down,  construction  has not stopped.  

People who have  money,  are still proceeding with new homes. Expect an increase as soon as the StayHome order is  lifted.

During the  market  crash of 2009, our firm and building efforts were also unaffected. 

 

Its going to be a feast or famine economy in months ahead.

Many retailers will be shutting, while others  will flourish.

Everyone is going to be  making  adjustments to the post virus era for a while. 

 

 

 

Agreed. Drove by a development in Chatham yesterday that was bustling with activity. Most construction projects i've seen recently have been the same. In many aspects, it's like nothing has changed.

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In the food service industry I’m already seeing a disruption in our supply chain. For example I typically use an antibiotic free 4oz chicken breast. I haven’t had that product in a week even though we’re just hearing now that there could be an impact from processing plants closing. I order my normal product and I’m sent a 6oz halal chicken breast instead, usually frozen.  I always strive to support local guys and while there’s an interruption in the protein market, red’s best has actually increased their supply in the past two weeks, which is primarily sourced from local fisheries. Needless to say local seafood is still on my menus at least 3-4 days of the week and I continue to push other chefs in New England to put more seafood on their menus. To the local commercial guys I just want to let you know that we (an unnamed large contract management food service company, and more specifically local healthcare chefs) are doing what we can to support you. Feel free to reach out to me if you are a food manufacturer, I have the means to purchase large volumes of product and would love the opportunity to support you. Also if anyone out there is in the food industry and is struggling there are a number of funds that are paying restaurants to make food to donate to healthcare workers. This helps keeping people employed and I can connect you to programs I am working with. I’m currently receiving 3,000 donated meals a week for frontline healthcare workers. Also if you work in foodservice I am hiring.

 

Be safe,

Mike

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