Corona Virus: It's a Marathon, Not a Sprint

[Zaxxon]

And then blame it on the blue states.

Don't forget foreigners as well. And darker-skinned Americans.

Also, everyone actually trying to help.

[El Guapo]

[LawBeefaroni]

Does Trump understand that winning Michigan again is kind of important?

And now this little gem.

After President Donald Trump issued scathing comments about Michigan Gov. Gretchen Whitmer, saying she's "not stepping up," and "doesn't know what's going on," she told WWJ 950 the state is having trouble getting the equipment they need to fight the novel coronavirus.

"What I've gotten back is that vendors with whom we've procured contracts -- They're being told not to send stuff to Michigan," Whitmer said live on air. "It's really concerning, I reached out to the White House last night and asked for a phone call with the president, ironically at the time this stuff was going on."

So General Motors, who he berated on twitter for low production, should tell him to go fuck himself and give their unappreciated 6K ventilators to Michigan. Shipping would be easy.

I mean is everyone just afraid of him? He's a bully and the solution is to give back harder than you get.

[malchior]

There is also a good chance some aren't looking/planning and the tsunami will just start to roll in to the emergency rooms.

[malchior]

Does Trump understand that winning Michigan again is kind of important?

And now this little gem.

After President Donald Trump issued scathing comments about Michigan Gov. Gretchen Whitmer, saying she's "not stepping up," and "doesn't know what's going on," she told WWJ 950 the state is having trouble getting the equipment they need to fight the novel coronavirus.

"What I've gotten back is that vendors with whom we've procured contracts -- They're being told not to send stuff to Michigan," Whitmer said live on air. "It's really concerning, I reached out to the White House last night and asked for a phone call with the president, ironically at the time this stuff was going on."

So General Motors, who he berated on twitter for low production, should tell him to go fuck himself and give their unappreciated 6K ventilators to Michigan. Shipping would be easy.

I mean is everyone just afraid of him? He's a bully and the solution is to give back harder than you get.

The scary thing to consider is he literally could order them *NOT* to send them to Michigan. The DPA cuts both ways theoretically. He could send them to his rural states for instance instead. That is why they should be scared of him. He is a fickle bully and he is evil to boot. This is where having someone this unsuitable calling the shots gives people pause.

[LawBeefaroni]

There is also a good chance some aren't looking/planning and the tsunami will just start to roll in to the emergency rooms.

Can't keep track of the threads anymore but when that happens, they've already determined that it will be the fault of the coastal elites who allowed their communist friends in China to import the virus to liberal US cities.

[YellowKing]

I mean is everyone just afraid of him?

This is the biggest mystery of this entire presidency. The guy's a complete moron, why are people so scared of him? I could understand it if he was some third world dictator that could have you murdered at the drop of a hat. With him, worse case is you get fired from a shitty job in a shitty administration and he calls you a loser on Twitter.

[Defiant]

[LawBeefaroni]

I mean is everyone just afraid of him?

This is the biggest mystery of this entire presidency. The guy's a complete moron, why are people so scared of him? I could understand it if he was some third world dictator that could have you murdered at the drop of a hat. With him, worse case is you get fired from a shitty job in a shitty administration and he calls you a loser on Twitter.

Well, I'm thinking about in GM or Whitmer. Does he attack domestic automotive industry or GM specifically? Does he withhold aid and funds from Whitmer? Well he's already done all that, so what is there to lose? Go after him.

[malchior]

I mean is everyone just afraid of him?

This is the biggest mystery of this entire presidency. The guy's a complete moron, why are people so scared of him? I could understand it if he was some third world dictator that could have you murdered at the drop of a hat. With him, worse case is you get fired from a shitty job in a shitty administration and he calls you a loser on Twitter.

The President is one of the most powerful people in the world and he has a diehard base that keeps his party in line. In the past that has been enough to eventually get you killed down the road. I'm not saying people are worried that he is going to have that kind of power (at least yet). The thing is that he has many levers to pull to make your life worse than just firing you. In the GOP circles, he can essentially poison political careers. He can starve them of cash or fundraising opportunities. Maybe you to worry that the administration fires you and you can't get a job because Trump has a whisper going on about you. Even if these weren't real the problem is that you could see that people imagine all the things he can do to you. That was a consistent message we heard running up to impeachment. People were scared of him because he is an evil bully with a ton of power. Finally, look at the current situation, we *should be* scared of him. He is killing people right now passively.

[Zaxxon]

Finally, look at the current situation, we *should be* scared of him. He is killing people right now passively.

Just for completeness' sake, I feel the need to point out that this has been the case since shortly after he took office. The future lost souls solely from his rollback of climate change / emissions stuff already dwarf the COVID-19 eventual deaths by a wide margin if you look out more than a generation or two.

[stessier]

For future reference.

[LawBeefaroni]

I mean is everyone just afraid of him?

This is the biggest mystery of this entire presidency. The guy's a complete moron, why are people so scared of him? I could understand it if he was some third world dictator that could have you murdered at the drop of a hat. With him, worse case is you get fired from a shitty job in a shitty administration and he calls you a loser on Twitter.

The President is one of the most powerful people in the world and he has a diehard base that keeps his party in line. In the past that has been enough to eventually get you killed down the road. I'm not saying people are worried that he is going to have that kind of power (at least yet). The thing is that he has many levers to pull to make your life worse than just firing you. In the GOP circles, he can essentially poison political careers. He can starve them of cash or fundraising opportunities. Maybe you to worry that the administration fires you and you can't get a job because Trump has a whisper going on about you. Even if these weren't real the problem is that you could see that people imagine all the things he can do to you. That was a consistent message we heard running up to impeachment. People were scared of him because he is an evil bully with a ton of power. Finally, look at the current situation, we *should be* scared of him. He is killing people right now passively.

The problem is that he's only gaining power. It will never be easier to stand up to him than it is today, and it was easier yesterday. His grip is still tenuous, but if no one stands up he'll be a true mini-Putin. And that is actually scary.

[Daehawk]

The thing is that he has many levers to pull to make your life worse than just firing you.

He couldn't find his lever with both hands and a magnifying glass. Even Melania wont look for that one anymore.

[Blackhawk]

So his new plan is to kill residents in states run by governors that he takes exception to?

And also in the red states by re-opening too soon.

Really everyone.

He's found a surefire way to ensure he isn't voted out of office.

Spoiler:

And on the pedestal these words appear:
'My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!'
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away.

[Smoove_B]

Does he withhold aid and funds from Whitmer? Well he's already done all that, so what is there to lose? Go after him.

When this was all ramping up late in February, I saw some opine that our great divide (and lack of potential support from the federal government) might have states turning against one another. Why should a Michigan-based manufacturer be sending stuff to NYC or CA? Why should a NJ-based mattress company be sending masks they're now making to a NYC hospital? Why should gasoline and food being trucked up and down the coasts be shuttled to interior states? I thought, man that's some tinfoil-hat level theorizing, it'll never happen.

Now, it seems within the realm of possibility. As I said two weeks ago - dark, dark days ahead of us.

[LawBeefaroni]

Does he withhold aid and funds from Whitmer? Well he's already done all that, so what is there to lose? Go after him.

When this was all ramping up late in February, I saw some opine that our great divide (and lack of potential support from the federal government) might have states turning against one another. Why should a Michigan-based manufacturer be sending stuff to NYC or CA? Why should a NJ-based mattress company be sending masks they're now making to a NYC hospital? Why should gasoline and food being trucked up and down the coasts be shuttled to interior states? I thought, man that's some tinfoil-hat level theorizing, it'll never happen.

Now, it seems within the realm of possibility. As I said two weeks ago - dark, dark days ahead of us.

Well, when the president is telling companies not to send to certain states, yeah manufacturers in those states may decide to keep their own products close at hand.

Michiganders won't stand for that shit, I'd wager he's losing the state, for whatever it matters now.

[stessier]

He is spreading the pain.

As medical supplies dwindle, Gov. Charlie Baker says his administration has put in hours on end trying to get health care workers the equipment they need to treat the ever-growing number of COVID-19 patients.

However, officials keep running into a familiar obstacle: The federal government, which has been competing with — and outbidding — states for supplies.

And after raising the issue with President Donald Trump last week, Baker expressed increasing frustration during a press conference Thursday afternoon about the bind in which his administration has found itself. Trump has urged states to order their own personal protective equipment, or PPE, rather than relying on the federal stockpile. Baker says his administration followed that advice, putting in their own orders for “millions” of masks and swabs — only to watch them get scooped away by the federal government.


“I stand here as someone who has had confirmed orders for millions of pieces of gear evaporate in front of us, and I can’t tell you how frustrating it is,” the Massachusetts governor said Thursday.

“We now have other orders that are outstanding that are probably ‘confirmed,’ but we’ve literally gotten to the point where our basic position is until the god — until the thing shows up here in the commonwealth of Mass., it doesn’t exist,” the Swampscott Republican continued. “I’m telling you, people are spending hours and hours and hours trying to get this stuff here for exactly that reason. Our first responders, our health care workers, everybody deserves to have that gear. And I’m telling you we’re killing ourselves trying to make it happen.”

[Smoove_B]

I don't know how this could be interpreted any other way than Trump actively working against states that are currently trying to stem the tide of infections and protect front-line workers.

[LawBeefaroni]

I don't know how this could be interpreted any other way than Trump actively working against states that are currently trying to stem the tide of infections and protect front-line workers.

It could be interpreted as "winning." Winning bids, swinging dick, etc. As an added bonus, dear leader can rain down the ill-gotten supplies on whatever serfs please him.

[Smoove_B]

With every day that passes, I understand more and more why historical political figures were given the guillotine.

[LawBeefaroni]

With every day that passes, I understand more and more why historical political figures were given the guillotine.

I'm constantly trying to recall various historical regimes and trying to pinpoint when the citizenry recognized that they were well and truly fucked. And what did that look like at the time? We're seeing all the signs, constantly, but there's no way we're one of those, right? Until we suddenly are.

I'm trying to view our situation from a historians perspective, say 30 or 40 years in the future. Connecting the dots to the seemingly inevitable conclusion, so clear in retrospect but when you're living it, not clear at all.

"And then, in March of 2020 the Federal Government under Trump took advantage of the situation by pitting the states against each other. The chaos of the pandemic, along with the disparate nature of states' responses, gave the regime cover while buying up and stockpiling vital supplies..."

[Daehawk]

Now sure what the swings are with the DOW. I was surprised to see it go up 2000 point in 2 days . I dont understand that bounce.

Today DOW

21,636.78 −915.39 (4.06%)

[$iljanus]

Trump and his ilk don’t seem to understand the difference between a socialized takeover of industry vs exerting temporary Federal control during a crisis for the good of its citizens.

They can all literally die on that hill for all I care but unfortunately the collateral damage is too great so come November the Republican establishment in Congress for letting their leader go unchecked and the Toddler must go.

[El Guapo]

Now sure what the swings are with the DOW. I was surprised to see it go up 2000 point in 2 days . I dont understand that bounce.

Today DOW

21,636.78 −915.39 (4.06%)

I would assume the prime mover in that is the passage of the $2 trillion stimulus bill, which should blunt some but not all of the economic doom.

[LawBeefaroni]

Now sure what the swings are with the DOW. I was surprised to see it go up 2000 point in 2 days . I dont understand that bounce.

Today DOW

21,636.78 −915.39 (4.06%)

I would assume the prime mover in that is the passage of the $2 trillion stimulus bill, which should blunt some but not all of the economic doom.

There's a lot at play. Yesterday was also a lot of algos and EOM/EOQ rebalancing.

Ultimately what we're seeing is volatility and that is from uncertainty. Mostly uncertainty about what COVID will look like in a few weeks and a few months and uncertainty about whether our government can handle it both from a leadership standpoint and from an economic policy standpoint. And obviously people taking profit after going up as much as 100% since the lows.

IMO we touch those lows again within the next few months and it will be a rollercoaster the whole time.

[Blackhawk]

If he's ordering supplies kept away from certain states, that's just straight supervillain territory. "You've displeased me. Let's see how you do without supplies for a couple of months. You'll come crawling back!"

*shudder*

[Smoove_B]

There are so many things that genuinely have surprised me in the last ~3 weeks, but Daehawk's interest in the DOW is easily Top 3.

[Daehawk]

What are the other two? Ill try harder if I think I have a chance.

[Zaxxon]

If he's ordering supplies kept away from certain states, that's just straight supervillain territory. "You've displeased me. Let's see how you do without supplies for a couple of months. You'll come crawling back!"

*shudder*

That's just... *checks notes...* A subset of this workweek's villainous tweets.

[malchior]

And obviously people taking profit after going up as much as 100% since the lows.

This plus Friday plus getting to end of the month.

IMO we touch those lows again within the next few months and it will be a rollercoaster the whole time.

Indeed. This is a great environment for options traders who know their stuff.

[Kraken]

There are so many things that genuinely have surprised me in the last ~3 weeks, but Daehawk's interest in the DOW is easily Top 3.

The markets are going to roller-coaster for the next few months, at least, as the daily news reports lurch from optimism to despair. I've read that rallies like this are common before finding the real bottom. Unless you're an active trader, the day-to-day ups and downs don't matter much. And if you're an amateur trying to time the market...good luck with that.

[gameoverman]

I mean is everyone just afraid of him?

This is the biggest mystery of this entire presidency. The guy's a complete moron, why are people so scared of him? I could understand it if he was some third world dictator that could have you murdered at the drop of a hat. With him, worse case is you get fired from a shitty job in a shitty administration and he calls you a loser on Twitter.

People can insult him all they want, I know I have, but he DID get elected and he beat an opponent that at one time was thought to be a sure thing to win. He has some powerful people behind him, and the fact no one seems to know exactly who is probably intimidating to people without even considering his power as President. I'm not referring to voters either. Now that he's planted in the office he just needs to use the one skill that he does have, self promotion, to hang on to power. That's how I see it.

[Isgrimnur]

And if you're an amateur trying to time the market...good luck with that.

Thank you.

[Daehawk]

Am I a bad person for thinking and hoping the office would get him?

[Daehawk]

I asked my dog if he got a stimulus check what he would do with it. He says he isn't sure but would consider investing in Chewy.com as their stock is up over 10%.

[Zarathud]

More insight into the Trump administration’s incompetence — there will be a separate IRS Notice on Monday undoing the unofficial web Q&A that gift tax returns will not be extended until July 15. Still no extensions on estate tax or information returns.

Guess who spent the last 2 days reaching out to tell clients that, yes, they still have to file gift tax returns? None of that can be billed, even though it’s in my client’s interests. My migraine has a migraine.

[Smoove_B]

I...can't...take it.

President Trump at the White House just now talking about coronavirus: "You can call it a germ. You can call it a flu. You can call it a virus. You can call it many different names. I'm not sure anyone even knows what it is."

[LawBeefaroni]

And obviously people taking profit after going up as much as 100% since the lows.

This plus Friday plus getting to end of the month.

EOM = end of month.

IMO we touch those lows again within the next few months and it will be a rollercoaster the whole time.

Indeed. This is a great environment for options traders who know their stuff.

I wish I could devote more time to trading. In this market you have to be watching all day or it can get risky.

[Jaymann]

I...can't...take it.

President Trump at the White House just now talking about coronavirus: "You can call it a germ. You can call it a flu. You can call it a virus. You can call it many different names. I'm not sure anyone even knows what it is."

Never underestimate the appeal to ignorance.