3CityApache Posted March 16, 2020 Share Posted March 16, 2020 As a matter of fact we don't know what would be the impact on global economy yet, other than it would be huge. I imagine closing markets for a few days would change nothing and I believe noone is able to comprehend closing it for, say, two months. Link to comment Share on other sites More sharing options...
Spockydog Posted March 16, 2020 Share Posted March 16, 2020 5 minutes ago, 3CityApache said: As a matter of fact we don't know what would be the impact on global economy yet, other than it would be huge. I imagine closing markets for a few days would change nothing and I believe noone is able to comprehend closing it fo, say, two months. Why not? It's all just numbers in a freaking computer. That's all it is. Just shut that shit down for three months. Everyone else is being massively impacted by this. We are all being told we have to accept radical changes to our daily lives. Why should the financial markets be exempt? Link to comment Share on other sites More sharing options...
Guest Posted March 16, 2020 Share Posted March 16, 2020 13 minutes ago, Spockydog said: Why not? It's all just numbers in a freaking computer. That's all it is. Just shut that shit down for three months. Everyone else is being massively impacted by this. We are all being told we have to accept radical changes to our daily lives. Why should the financial markets be exempt? Quit making so much goddamn sense. This is the way things have always been done. Link to comment Share on other sites More sharing options...
Spockydog Posted March 16, 2020 Share Posted March 16, 2020 11 minutes ago, The Great Unwashed said: Quit making so much goddamn sense. This is the way things have always been done. If they can shut down football and cancel the season, they can shut down the markets for a few months. Link to comment Share on other sites More sharing options...
Fragile Bird Posted March 16, 2020 Share Posted March 16, 2020 I would say closing the US markets would be unthinkable. Eta for an extended period of time. The value of all publicly traded stocks is a 15 digit number. I am not even sure what you call that. You can’t freeze that much capital for months. The markets were closed for the rest of the week at 9/11, but mainly for reasons of physical danger concerns, all the debris. And the shock. They closed for a couple of days at Hurricane Sandy, again because of physical dangers. (I think equipment got flooded, but they have back-up equipment) Otherwise US markets closed single day events like JFK’s funeral and a national holiday after the moon landing. The markets closed for 4 months at the start of WW1, but there was no technology, fewer stocks and a comparatively small market. And remember, the bond market is 10x the size of the stock market. 10 minutes ago, Spockydog said: If they can shut down the football and cancel the season, they can shut down the markets for a few months. Football games are shut down for social distancing reasons. Stocks markets can be totally run from a computer on a trader’s desk. The Chicago Mercantile Exchange has closed the trading floor already, which was harder for them because they still actually did a portion of their trading on the floor. There are floor traders on the NYSE, but I don’t think they actually need to be there. Link to comment Share on other sites More sharing options...
Spockydog Posted March 16, 2020 Share Posted March 16, 2020 I'm not saying they should be closed because traders are gonna get the virus. I'm saying they should be closed to protect people's jobs, pensions and investments. Link to comment Share on other sites More sharing options...
BigFatCoward Posted March 16, 2020 Share Posted March 16, 2020 40 minutes ago, Ser Scot A Ellison said: I have a silly question: why is everyone going ape over hand sanitizer? In 2015 When my extended family took a cruise to Alaska the crew was squirting hand sanitizer on everyone. Most of my extended family thought that was great. My immediate family and I declined to use it (much to the crew’s frustration) we chose to wash our hands frequently with soap and hot water. Everyone else got sick. We did not. Isn’t soap and hot water better than “hand sanitizer”? Hand sanitizer is mobile. So I have some for the tube, but wash hands when at work. But I agree, I think many are using instead of soap and water. Link to comment Share on other sites More sharing options...
Fragile Bird Posted March 16, 2020 Share Posted March 16, 2020 4 minutes ago, Spockydog said: I'm not saying they should be closed because traders are gonna get the virus. I'm saying they should be closed to protect people's pensions and investments and jobs. How are people supposed to get paid their pensions when markets are closed? Pensions own stocks and bonds that their plans sell to have money to pay the pensions. Suspend pension payments as well? Lend billions of dollars to plans so they can be paid? People and companies need access to their capital. I very well might hunker down and not do any buying or selling until we have a clearer picture of what’s going on, but if I need money because of a crisis I want to be able to sell. Link to comment Share on other sites More sharing options...
3CityApache Posted March 16, 2020 Share Posted March 16, 2020 But stopping the share price from falling due to closing the market would not stop actual factories closing production or shops/ offices/businesses closing down and so on, would it? Link to comment Share on other sites More sharing options...
BigFatCoward Posted March 16, 2020 Share Posted March 16, 2020 11 minutes ago, Spockydog said: I'm not saying they should be closed because traders are gonna get the virus. I'm saying they should be closed to protect people's jobs, pensions and investments. Traders not getting the virus would be a unfortunate side effect of closing the markets. Link to comment Share on other sites More sharing options...
Mauvka Posted March 16, 2020 Share Posted March 16, 2020 4 minutes ago, BigFatCoward said: Traders not getting the virus would be a unfortunate side effect of closing the markets. I think most trading is done by algorithm anyway.... Link to comment Share on other sites More sharing options...
BigFatCoward Posted March 16, 2020 Share Posted March 16, 2020 I hope my little girl is dumb, because the stocks and shares isa, that was supposed to pay for uni is fucked. Link to comment Share on other sites More sharing options...
rotting sea cow Posted March 16, 2020 Share Posted March 16, 2020 19 minutes ago, BigFatCoward said: I hope my little girl is dumb, because the stocks and shares isa, that was supposed to pay for uni is fucked. I actually wonder what world will emerge afterwards Link to comment Share on other sites More sharing options...
Spockydog Posted March 16, 2020 Share Posted March 16, 2020 Just now, rotting sea cow said: I actually wonder what world will emerge afterwards WITNESS MEEEEEEE! Link to comment Share on other sites More sharing options...
3CityApache Posted March 16, 2020 Share Posted March 16, 2020 Well, in a few weeks it might be a once in a lifetime oportunity to buy. Link to comment Share on other sites More sharing options...
Fez Posted March 16, 2020 Share Posted March 16, 2020 42 minutes ago, rotting sea cow said: I actually wonder what world will emerge afterwards The pessimist in me says that it'll be just like the great recession and we'll then quickly go back to the way things were. The really down pessimist in me says: FURY ROAD!! I don't think I have an optimistic side right now. Link to comment Share on other sites More sharing options...
DaveSumm Posted March 16, 2020 Share Posted March 16, 2020 Still a strange lack of reports from people who’ve had this virus and it wasn’t too bad ... for my own anxiety I could really use a story of someone who was tested positive, it really was like a cold, then tested negative. There’s a bunch of accounts from people who are pretty sure they’ve had it but it’d be nice to get a clean cut case. I know by definition the milder cases are less likely to have been tested, but surely somebody had this experience? For all the talk of ‘fever and dry cough’ being the most common, the first hand reports I’ve read have been incredibly varied. Link to comment Share on other sites More sharing options...
Ran Posted March 16, 2020 Share Posted March 16, 2020 Just now, DaveSumm said: Still a strange lack of reports from people who’ve had this virus and it wasn’t too bad ... for my own anxiety I could really use a story of someone who was tested positive, it really was like a cold, Daniel Goldman was positive and says he now feels almost 100% better -- had 3 days of flu-like symptoms (fever, headache, cough). Still quarantined, though. He's Skyped in earlier today to MSNBC to discuss it Link to comment Share on other sites More sharing options...
Fez Posted March 16, 2020 Share Posted March 16, 2020 Just now, DaveSumm said: Still a strange lack of reports from people who’ve had this virus and it wasn’t too bad ... for my own anxiety I could really use a story of someone who was tested positive, it really was like a cold, then tested negative. There’s a bunch of accounts from people who are pretty sure they’ve had it but it’d be nice to get a clean cut case. I know by definition the milder cases are less likely to have been tested, but surely somebody had this experience? For all the talk of ‘fever and dry cough’ being the most common, the first hand reports I’ve read have been incredibly varied. Miami's mayor has tested positive on Friday and continues to show almost no symptoms at all. Quote “Mild to almost no symptoms right now,” said Suarez on a Sunday morning video he posted on social media. The mayor has been sharing his condition, his temperature and his thoughts in a daily video journal. He’s also been updating the health department, who’s monitoring for symptoms each day. Buried in hundreds of unread text messages are check-ins from public health professionals. For now, COVID-19 has proven a mild illness for the 42-year-old who is otherwise in good health, with no underlying health conditions and a typical immune system. He took a few Tylenols for mild aches Saturday. No fever, according to readings from two thermometers he uses. Little bit of a runny nose. Link to comment Share on other sites More sharing options...
Heartofice Posted March 16, 2020 Share Posted March 16, 2020 1 hour ago, BigFatCoward said: I hope my little girl is dumb, because the stocks and shares isa, that was supposed to pay for uni is fucked. I don’t even want to look at mine. Though I’m in it for the long haul, assuming at some point it bounces back before I am a pensioner Link to comment Share on other sites More sharing options...
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