Corona Virus Panic

[DouglasVB]

FWIW, I got those numbers from our local Farm Bureau: http://montereycfb.com/index.php?page=facts-figures-faqs

 

[3rdGen4R]

That was actually congress, not FDA that did that. Was a week or two ago. FDA can not change laws, only congress can. In any case, the information is correct, N95 masks that were previously intended for industrial applications may now be legally sold to hospitals and other health care facilities without the seller being held liable. If anyone has a stash in their garage, please donate them! email me at web@american3dprinting.net and I can get you the contact info of my nurse friend at UC Health. I checked my garage and I don't have any new ones, just one used one.

So this is not true. And goes right into administrative law. Which may or may not be not be constitutional. But as of right now it is, so the idea that only congress can make laws just isn’t true. Most of the ACA was passed and left to the executive to form the administrative law around it. Either way... here is the FDA changing the law.

https://www.fda.gov/media/135763/download

 

[DaveInDenver]

FWIW, I got those numbers from our local Farm Bureau: http://montereycfb.com/index.php?page=facts-figures-faqs

The article just had the original source data cited as the basis for the calculations if anyone wanted to find them. I linked it from my phone so my editing was poor. The original report has a ton of interesting stuff in it and I think the article itself is worth reading regarding some of the underlying nature of our food supply.

"Lauritzen, E. (2014) Monterey County 2014 Crop Report. Monterey County Agricultural Commissioner. Retrieved from: https://www.co.monterey.ca.us/home/showdocument?id=1581."

 

[gungriffin]

What your saying, would imply the banks including the fed have a solvency issue. Which, unless they are lying to the Public, we dont. Correct me if I'm wrong but the fed has never used negative interests so, what your saying may fall in line with speculation. I believe our current form of government could not sustain such a measure, and would be radically different as a result. I don't think it's gonna happen.

I absolutely think that we have a solvency issue. There is a reason why the Fed is printing money like crazy to buy up bad debt right now. Tomorrow the Fed will release their updated balance sheet and I believe that it will show an increase larger than any we have previously seen.

I do not believe that we would head into negative interest rates any time soon. We are at 0% right now and last week the Fed had something that was a first in it's history, a 100 basis point drop in the target rate. Two weeks ago, that would have been unthinkable to most. What happens if all of the debt purchasing doesn't work and we are at a 0% target rate?

 

[OHUZJ100]

I absolutely think that we have a solvency issue. There is a reason why the Fed is printing money like crazy to buy up bad debt right now. Tomorrow the Fed will release their updated balance sheet and I believe that it will show an increase larger than any we have previously seen.

I do not believe that we would head into negative interest rates any time soon. We are at 0% right now and last week the Fed had something that was a first in it's history, a 100 basis point drop in the target rate. Two weeks ago, that would have been unthinkable to most. What happens if all of the debt purchasing doesn't work and we are at a 0% target rate?

I actually agree with your previous post, and your point in general. I'm just saying that it has never happened, and the implications of the fed having solvency issue are massive.

To your point, alot of unthinkable things have happened recently

 

[DaveInDenver]

What happens if all of the debt purchasing doesn't work and we are at a 0% target rate?

A realization that nothing is actually too big to fail? Make sure you a good wheel barrow to carry the cash for your bread run.

 

[gungriffin]

Our U.S. Dollar is already substantially digital, very little of it circulates as paper currency. Maybe more people are starting to realize their paycheck, mortgage, weekly grocery bill, IRAs numbers no longer represent a meaningful value. Enough people around still remember what things "used to cost" and inflation is accelerating to the point it's being noticed. Add in the political problems having anonymity of buying things in cash and it's not hard to understand the constant desire to get rid of physical, fungible cash. Eventually the money you have in hand, the actual bills, will decouple from any official attempt at valuation. People know this intuitively. It's why there's a run at ATMs when times are uncertain.

The dollar may be digital, but many people still believe that they have access to paper dollars if they would want them. They do not. Most people don't ever try to get more than a few thousand at a time. As you are saying, it is the belief in the system that is important and cannot be challenged. In the event of negative rates, I believe that we would have a severe shortage of paper dollars as people sought to keep their money at home. That would certainly challenge the narrative of you can have all the dollars you would like.

As many political problems are solved domestically with a new currency similarly global political problems are solved removing the U.S. from having influence. Every drop of crude oil that is traded around the world must be done in U.S. Dollars, for example. That's to our benefit since it forces nations around the world to accumulate Dollars, which is where the bulk of the inflation is hidden.

Starting in 2018 not all contracts for oil futures are settled in dollars. There is Yuan denominated oil futures on the Shanghai International Energy Exchange.

A weaker dollar will definitely benefit any country with dollar denominated debt. I could easily see that we will find emerging markets prospering in the upcoming recovery as their dollar debt servicing costs will become a decreasing portion of their profits.

 

[gungriffin]

I actually agree with your previous post, and your point in general. I'm just saying that it has never happened, and the implications of the fed having solvency issue are massive.

To your point, alot of unthinkable things have happened recently

We are definitely in uncharted territory right now. Here is to hoping that our politicians do the right thing....

 

[OilHammer]

You mean by voting on single issues for funding? Or by mixing in all kinds of crap that's unrelated to the direct impact of shutdowns?
My comparison is try doing that at home:
Wife: Honey, I'm going to take $200 and buy a new purse. I really need one!
Husband: Ok, but I'm taking $900 for beer brewing kit
Kids: Ok, but we're getting new video games for $600
Dog: Ok, but I want a new dog house because of global cooling for $100,000
Cat: F you and get out of my face!
Wife: So my new purse will cost the family $101,700 and piss off the cat?
All: YES!!!

 

[gungriffin]

You mean by voting on single issues for funding? Or by mixing in all kinds of crap that's unrelated to the direct impact of shutdowns?
My comparison is try doing that at home:
Wife: Honey, I'm going to take $200 and buy a new purse. I really need one!
Husband: Ok, but I'm taking $900 for beer brewing kit
Kids: Ok, but we're getting new video games for $600
Dog: Ok, but I want a new dog house because of global cooling for $100,000
Cat: F you and get out of my face!
Wife: So my new purse will cost the family $101,700 and piss off the cat?
All: YES!!!

Pelosi's bill is only at 1400 really dense pages right now and about 2.5 tril. Ah hell, what is a few hundred extra billion among friends.

Anytime something like this comes up I always think of this clip from the early days of South Park.

 

[DouglasVB]

Semi-random question: Is there a way to see who has been admitted to hospitals around Grand Junction? No one in my family has heard from my aunt who lives in Glade Park since the 5th of March. She hasn't returned messages or emails when normally she's very prompt.

 

[OilHammer]

You should definitely call her phone again, have a neighbor check, or start calling hospitals and ask.

Interesting read on 2017-2018 flu cases and deaths in the USA. https://www.cdc.gov/flu/about/season/flu-season-2017-2018.htm

 

[DouglasVB]

You should definitely call her phone again, have a neighbor check, or start calling hospitals and ask.

Got in touch with someone who has been in touch with her the last few days. Sounds like they've been having comms issues up on the mesa where she lives. *whew*

 

[DouglasVB]

Welcome to the stay at home club, Colorado! https://www.thedenverchannel.com/ne...sues-statewide-stay-at-home-order-in-colorado

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EDIT: and I see Idaho has also joined the club today: https://www.kivitv.com/news/governor-little-issues-stay-at-home-order-for-idaho

 

[bh4rnnr]

I avoid posting in these type of threads. But wanted to let friends here know that while at work yesterday, HR called me. Told me to go ahead and finish my shift, but to stay home for the next two weeks- it will be paid time off. This is happening for most of the staff at Enterprise Holdings.

First thought was to run up and hide away at the cabin, but decided against that knowing the impact it can have on small communities.

Stay safe friends, wash your hands and support the local businesses once we get out of this mess.

 

[White Stripe]

 

[Rzeppa]

it will be paid time off.

That's awesome Perry!

 

[Rzeppa]

I recall a couple years ago Christo had a fully restored Corona in his showroom.

 

[FJCDan]

This has been weighing very heavily on me and my wife for sometime now. I am self employed and I’m basically shut down, no work no money. I have already suffered a slow winter once again. Now my wife is facing lay-off when she gets her ok from doctor from her hip replacement that she was very fortunate to have done 4 weeks ago. By the way she is doing great. Highly recommend this to anyone with severe arthritis. Pain is gone. But again she will be out of a job and insurance. She works for a hotel and they are down to 10-15% occupancy, not sure how much longer they can stay open. So if anyone needs carpet cleaning when this is done I will certainly appreciate it.

 

[MountainGoat]

That sucks Dan, hate to hear it. If things get dire shoot me a pm.