Official Coronavirus Economic Thread đŸ’±

Like I just said above, our politicians want it to run and run. But hey, for every day they’re ‘socially isolating’, ie away from Westminster (for all the fucking good they are when they’re present! :sweat_smile: ) , it’s like being a long fully-salaried holiday, while everyone else - their paymasters?? - is either penny-pinching every fucking day to keep it together, or going bankrupt. The only downside for them is they can’t claim expenses for a second home while parliament is sitting. Or can they? Hold that thought?

Why the hell do we keep re-electing these cu . . . oops, nearly? lol I mean idiots when everything they do goes wrong? We must be bloody masochists?

https://www.wfaa.com/article/news/health/coronavirus/coronavirus-updates-friday-dallas-fort-worth/287-e4493767-8021-4242-9290-8838445605bf

https://youtu.be/9vCHLMhg__s

@Dr_Manhattan I think I heard that JCPenny maybe “out the door”. Their shares are now worth $0.25/share! Should I buy? :rofl:

Not sure. Haven’t done any recent research on them. I will get back to you on that.

Trump issues order deferring of some tariffs

President Trump issued an executive order Sunday night giving the Treasury Secretary Steven T. Mnuchin the authority to defer certain tariff payments due to the coronavirus crisis.

The president’s order allows Treasury to defer tariff payments “for importers suffering significant financial hardship because of COVID-19.”

The order gives Mr. Mnuchin the authority to temporarily extend deadlines on some tariff payments.

We still have those tariffs on China, right?

When you do, make it by PM will you?

Hey asshat! This is a economic thread! Get a freaking clue by reading!

I have JCP on hold. So, we’ll see in a month.

I feel quite optimistic about the markets right now. Yes, it’s still fragile. But if we go back to 29,000+ in two months, that would be the fastest recovery in many years! That is an increase of 8,000+ jump from March when the crisis started.

Although, it maybe good for consumers, since they will have to pay (at least) $1.10/gal. for gas; it is not good for economic reasons.
We are the No. 1 exporter for oil. Other countries depend on our oil. If it continues on its downward trend, these oil places will have no choice but to either layoff thousands. Or shut down. And that is not good for America.

So, enjoy your $1/gal, gas, folks
just remember. We don’t need to depend on OPEC or other countries (like Russia and Venezula) for oil shipments.

crude.PNG

Oil is a commodity that is traded on the global market.

Of course, it is a commodity. But fracking would be the way to go. It’s those folks like Obama, and the Green New Deal idiots that want to stop it totally. We have plenty of oil in our country.

https://www.reuters.com/article/global-oil-opec-cuts/big-opec-oil-output-cuts-depend-on-u-s-others-joining-sources-idUSL8N2BV3C5

We were already there in terms of energy independence and leading the world as the number one oil producer before this virus outbreak happened.