RE: We're all Doomed - 2

Here in the sunny SF Bay Area, we haven't had much rain at all this Feb, but hoping to get a really wet March/April before the dry season sets in -- we don't want/need another drought!

I don't think we are doomed. Selling being doomed is someone else's way of making a living.

In the '60's we were going to run out of trees. In the 70's we were going to run out of oil. In the 80's we were going to run out of food. Now it's climate change, I think it's time to review Al Gore's "An Inconvenient Truth" and see what climate he predicted for 2020. Miami has not flooded yet.

Corona Virus is no laughing matter, but in the US, 35000 people die each year from drug overdose. Ditto for traffic deaths.

To state the obvious, emotional issues are not rational. It's late, time for me to go to bed and get a good night's sleep. I am not doomed and I hope to ride my bike tomorrow. Yeah!!

A local news opinion article in my newspaper recently mentioned the old political saying: "Never let a good crisis go to waste." (Especially when it comes to another chance to raise taxes to "fix" the "crisis".)

Zitat von runnerhiker im Beitrag #17

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I don't think we are doomed. Selling being doomed is someone else's way of making a living.

In the '60's we were going to run out of trees. In the 70's we were going to run out of oil. In the 80's we were going to run out of food. Now it's climate change, I think it's time to review Al Gore's "An Inconvenient Truth" and see what climate he predicted for 2020. Miami has not flooded yet.

Corona Virus is no laughing matter, but in the US, 35000 people die each year from drug overdose. Ditto for traffic deaths.

To state the obvious, emotional issues are not rational. It's late, time for me to go to bed and get a good night's sleep. I am not doomed and I hope to ride my bike tomorrow. Yeah!!

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Zitat von Mr. 36654 im Beitrag #19

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Zitat von runnerhiker im Beitrag #17

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I don't think we are doomed. Selling being doomed is someone else's way of making a living.

In the '60's we were going to run out of trees. In the 70's we were going to run out of oil. In the 80's we were going to run out of food. Now it's climate change, I think it's time to review Al Gore's "An Inconvenient Truth" and see what climate he predicted for 2020. Miami has not flooded yet.

Corona Virus is no laughing matter, but in the US, 35000 people die each year from drug overdose. Ditto for traffic deaths.

To state the obvious, emotional issues are not rational. It's late, time for me to go to bed and get a good night's sleep. I am not doomed and I hope to ride my bike tomorrow. Yeah!!

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Miami does experience routine flooding
https://www.miamigov.com/Government/Miam...eady/King-Tides

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The Coronavirus doesn't have to kill a lot of people to bring the economy to a standstill. All it has to do is make people fearful of public places. Given the strongest economy in years, and a stock market priced for perfection, doom doesn't have to be graded in human death...an economic catastrophe would have a greater impact.

That said...I'm going riding...alone!

Don't forget that life is a sexually transmitted disease with a 100% mortality rate.

Zitat von DJBee im Beitrag #22

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Don't forget that life is a sexually transmitted disease with a 100% mortality rate.

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We may be doomed but we can have some fun while circling the drain.

Corona Bug.jpg - Bild entfernt (keine Rechte)

Zitat von Richard230 im Beitrag #24

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We may be doomed but we can have some fun while circling the drain.

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Here is the latest doom news from the SF Bay Area regarding the virus:

There was an interview this morning on the local news radio station with someone who is traveling in Spain. The traveler reported that the virus is having little impact in Spain. People are still going about their business, out and about, eating at restaurants and going to social functions and theaters. He said that the difference there is that the virus story is not being screamed about by the news media and is like the third or fourth topic discussed after local and national news stories.

Meanwhile, on the same SF Bay Area radio news station, they have been crying all morning long about the impact of the virus on local people, including wringing their hands about what happens if the virus attacks the homeless living on the streets and under freeway overpasses, what happens if it hits schools and universities, what happens if stores run out of food and water (better run out to the store and stock up now), what happens if you need to stay home for 14 days if you feel sick and the need to pass a law to force companies to pay their workers for staying home if they are felling sick and think they have the virus.

The news media has got some people so panicked about the virus that yesterday there was a huge rush by hundreds and hundreds of people on the local Costco stores that cleaned out their shelves of bottled water (why that?) and disposable disinfectant wipes. TV stories showed people with shopping carts full of supplies lined up all over the store in its checkout lines.

One thing is for sure, the media and their advertisers are not going to let this crisis go to waste.

In more shocking news: It was announced yesterday that the U.S.'s most highly paid TV personality, 78-year old Judge Judy, who is currently making $47 million a year, will have her daily TV show canceled by CBS, after 25 continuous years, at the end of this year. Fortunately, she is not giving up and plans to produce her own TV show next year, with the tittle of "Judy Justice" (or something like that).

The coronavirus is not why people SHOULD panic. They should panic because the Federal Reserve is panicking. Why? Because they didn't let the economy take its medicine in 2008 and instead flooded the markets with fake, printed money, leading to a bond and equity bubble without precedent (except the late 1920's). The virus is a smoke screen for the crash that's started already.

We are doomed, but not from a bug.

So, crashing most every pension fund, GM, Chrysler and several other old line employers would have been good for the economy in 2008?

The error was made a decade before when US regulators loosened the banking rules to compete with the post Big Bang operations of the City of London. Everyone wanted to be the center of M&A and Alan Greenspan famously claimed federal Budget surpluses were a drag on the economy. Taxes were cut to increase budget deficits. Corporate and capital gains tax rates were cut to "repatriate overseas funds" and stimulate stock purchases. Lots of people bought houses with no assets and the banks didn't even know who owned the paper. It was a miss. Just about as bad as the prior S&L mess that the "off the budget" Resolution Trust Fund cleaned up in the late 80's.

Yep, the Fed is now in the foolish mode of protecting Wall Street. But, for several years we've been told Wall Street is our primary economic indicator and easy monetary and fiscal policy is the law of the land. So, the fed is only following direction and the next round of tax cuts is going to be even more ludicrous.

Yes, the economy should have crashed in 2008. It would have been ugly, but by now it would have been over. The situation we face now is many times worse...and there is very little the Fed can do, with interest rates historically low (10-year Treasury at about 1%). The economic debacle that's coming will do just as much (probably more) damage than the virus. The public is clueless; as long as Survivor is on TV and they can text their selfies to their BFF's, they're happy. Lord have mercy...

The Fed dropped their interest rate today by 1/2%, which did nothing for the stock market, which dropped quite a bit today. I heard that their interest rate is now around 1%. I have an interest-bearing checking account at my bank and it is hard to believe that they could lower their interest rate any more. I have a decent amount of money in my account and only received 29 cents in the way of "interest" last month.