Author Topic: Coronavirus Recession  (Read 47614 times)

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Offline Compressed-Village

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Re: Coronavirus Recession
« Reply #30 on: April 09, 2020, 05:23:57 PM »
Vacation rental is screwed. Forget about it, might as well mail the keys back to your lender. That will be the last thing after this that people think about going on vacation. People will clutch tight to their last dollars.

The soup/food line is propping up everywhere.


Offline eyephone

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Re: Coronavirus Recession
« Reply #31 on: April 09, 2020, 05:26:56 PM »
Vacation rental is screwed. Forget about it, might as well mail the keys back to your lender. That will be the last thing after this that people think about going on vacation. People will clutch tight to their last dollars.

The soup/food line is propping up everywhere.

Me and CV are the only ones talking about the food line. Food line are not just for poor people.

Offline Liar Loan

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Re: Coronavirus Recession
« Reply #32 on: April 09, 2020, 05:39:26 PM »
Vacation rental is screwed. Forget about it, might as well mail the keys back to your lender. That will be the last thing after this that people think about going on vacation. People will clutch tight to their last dollars.

The soup/food line is propping up everywhere.

Me and CV are the only ones talking about the food line. Food line are not just for poor people.

The public schools are effectively acting as food lines already.  Free food if you have kids, no questions asked.

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Offline eyephone

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Re: Coronavirus Recession
« Reply #33 on: April 09, 2020, 05:43:30 PM »
Vacation rental is screwed. Forget about it, might as well mail the keys back to your lender. That will be the last thing after this that people think about going on vacation. People will clutch tight to their last dollars.

The soup/food line is propping up everywhere.

Me and CV are the only ones talking about the food line. Food line are not just for poor people.

The public schools are effectively acting as food lines already.  Free food if you have kids, no questions asked.

Haha handing out kids meal is a food line.
Good one.

Offline qwerty

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Re: Coronavirus Recession
« Reply #34 on: April 09, 2020, 06:54:52 PM »
What did we expect would happen if we shut down a country where the majority of people live check to check.

Everyone talks about overwhelming the healthcare system as the rationale for this.

What about the overwhelming of society?

All this is going to be for not as everyone is going to learn we can’t wait this out for 12-18 months. So we steamrolled the economy for what?

Offline eyephone

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Re: Coronavirus Recession
« Reply #35 on: April 09, 2020, 07:02:30 PM »
What did we expect would happen if we shut down a country where the majority of people live check to check.

Everyone talks about overwhelming the healthcare system as the rationale for this.

What about the overwhelming of society?

All this is going to be for not as everyone is going to learn we can’t wait this out for 12-18 months. So we steamrolled the economy for what?

Good point.
How about this? Will you go to the movies in a month or so if they lift the ban?
Our society will change.
We should not bailout everybody.

Offline qwerty

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Re: Coronavirus Recession
« Reply #36 on: April 09, 2020, 07:23:21 PM »
What did we expect would happen if we shut down a country where the majority of people live check to check.

Everyone talks about overwhelming the healthcare system as the rationale for this.

What about the overwhelming of society?

All this is going to be for not as everyone is going to learn we can’t wait this out for 12-18 months. So we steamrolled the economy for what?

Good point.
How about this? Will you go to the movies in a month or so if they lift the ban?
Our society will change.
We should not bailout everybody.

I have two kids. I don’t go to the movies anymore :-(

They should not get bailed out. They started doing what they should have done a long time ago and stream new releases.

Offline qwerty

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Re: Coronavirus Recession
« Reply #37 on: April 12, 2020, 06:35:31 PM »
JPMorgan to tighten lending standards. After Tuesday to get a mortgage with them you will need a credit score of 700 and 20% down.

https://www.cnbc.com/2020/04/11/jpmorgan-chase-to-raise-mortgage-borrowing-standards-as-economic-outlook-darkens.html

Offline eyephone

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Re: Coronavirus Recession
« Reply #38 on: April 12, 2020, 08:04:48 PM »
JPMorgan to tighten lending standards. After Tuesday to get a mortgage with them you will need a credit score of 700 and 20% down.

https://www.cnbc.com/2020/04/11/jpmorgan-chase-to-raise-mortgage-borrowing-standards-as-economic-outlook-darkens.html

Credit market tightening like I previously said.

Offline eyephone

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Re: Coronavirus Recession
« Reply #39 on: April 14, 2020, 08:50:13 AM »

JPMorgan shares drop after bank warns borrower defaults could get 'meaningfully' worse

The company added $6.8 billion to loan loss provisions. The reserve increase signals that management expects a surge in defaults across the company's lending businesses, including credit cards, energy, real estate and retail sector.

https://www.cnbc.com/2020/04/14/jpmorgan-chase-jpm-earnings-q1-2020.html

Just as I predicted in the Dow thread.

« Last Edit: April 14, 2020, 09:02:50 AM by eyephone »

Offline gpquest

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Re: Coronavirus Recession
« Reply #40 on: April 14, 2020, 09:06:56 AM »
So smart.

Offline eyephone

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Re: Coronavirus Recession
« Reply #41 on: April 14, 2020, 09:14:53 AM »
So smart.

What have you said? Nothing. Not a single word.

Offline Irvinehomeseeker

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Re: Coronavirus Recession
« Reply #42 on: April 14, 2020, 09:26:21 AM »

JPMorgan shares drop after bank warns borrower defaults could get 'meaningfully' worse

The company added $6.8 billion to loan loss provisions. The reserve increase signals that management expects a surge in defaults across the company's lending businesses, including credit cards, energy, real estate and retail sector.

https://www.cnbc.com/2020/04/14/jpmorgan-chase-jpm-earnings-q1-2020.html

Just as I predicted in the Dow thread.
But the market is up and so is shares of Chase....how is that? Sounds like these losses are already priced into the market?

Offline eyephone

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Re: Coronavirus Recession
« Reply #43 on: April 14, 2020, 09:34:55 AM »

JPMorgan shares drop after bank warns borrower defaults could get 'meaningfully' worse

The company added $6.8 billion to loan loss provisions. The reserve increase signals that management expects a surge in defaults across the company's lending businesses, including credit cards, energy, real estate and retail sector.

https://www.cnbc.com/2020/04/14/jpmorgan-chase-jpm-earnings-q1-2020.html

Just as I predicted in the Dow thread.
But the market is up and so is shares of Chase....how is that? Sounds like these losses are already priced into the market?

JPM is down today. It is a sign to come.
It does not matter if the market is up.

Offline Soylent Green Is People

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Re: Coronavirus Recession
« Reply #44 on: April 14, 2020, 09:36:04 AM »
The school lunch programs have effectively been "food lines for children". Many school districts are keeping their school lunch kitchens open, passing out hot meals whenever possible because so many families have come to rely on them due to food insecurity.

Soup kitchens aren't just for the hobos either. There are plenty of senior citizens who come daily to soup kitchens because they do not have access to consistent meals due to the cost of living. One wonders though if the population of seniors coming to soup kitchens is the same in OC compared to other large metropolitan areas like Denver or St Louis. Is it that one is compelled to take free food in exchange for living in OC? I don't know the answer. What I do know is that we've had food lines here in OC well before this pandemic.

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