S&P down 9.51%
Dow down 9.9%
Nasdaq down 9.4%
We are witnessing a market Crash – the madness of Trump closing the borders to Europe was possibly the single worst thing he could do – there is no V shaped recovery this is a meltdown.
During trading, The Fed threw $1.5T at supporting liquidity in Treasuries – it halved the Dow losses for just 5minutes and the Dow started falling again – folks, that’s the fastest $1.5T thrown into a fire you’ll ever see.
I’ve watched Markets as a hobby since the 2008 crash, I’ve never seen anything like this.
Trump’s insane plan to close the borders to Europe effective midnight tonight was madness!
The issue is the utter lack of testing inside America where the virus is now out of control, it’s not the threat of infection from bloody Europe!
By closing the border, the Market has been spooked into a full blown collapse.
Once it becomes a pandemic you could get 60-70% of a population infected.
This is a black swan event, the political, economic, physical and cultural infrastructure isn’t ready for the ramifications of these shock waves.
The Vaccine is 12-18months away and until we have it, things are only going to get much, much, much worse.
The Labour Government have squandered the time our distance has bought us, the time now is for urgent decisions on using the military to continue critical services, public service announcements of what to do once the pandemic gets here and a huge borrowing campaign to pay for benefits, guarantee business stay afloat and also funds to pay 3 times the normal KiwiSaver bonus from the Government over the next 5 years to help counter the utter destruction many people’s Kiwisaver accounts will have suffered.
The time for pretending that criticism of the pandemic is racist and that this won’t be a big deal is over.
If we could somehow harness the energy woke activists spend on NZ Twitter screaming the virus isn’t serious, mocking ordinary people for panicking & denouncing any criticism as racist, we could make all energy in NZ renewable and solve the climate crisis!
The Black Swan is here you fools.
Best to stay away from twitter, seriously. Lunacy rules there.
A fair few of them are not human – they’re ‘Bots’. Wiki Twitter Bots
According to last year’s Pew Research two thirds, 66% of “all tweeted links” are suspected be bots. Pew Research Fact Tank Bots On Twitter
There has been much talk of placing employees and employers on welfare benefits over the coming weeks to help them through the viral economic collapse. The government has to treat these people as I was treated when applying for social assistance: deny them any assistance until they exhaust their life savings (for myself, two years of paying rent and buying food while looking for work, and when I did find a job, I was made redundant three days later by the Canterbury earthquakes), including selling assets such as cars, houses, property and businesses. Only then can our people apply for financial assistance and witness firsthand the sadists at WINZ. Sell.
Pasifika 2020’s been cancelled. https://www.stuff.co.nz/national/health/coronavirus/120245733/coronavirus-auckland-pasifika-festival-cancelled-over-covid19-fears
Its shutdown the woke twatterati army! Lets hope that by the end of the day, there’ll be a few less billionaires on planet earth. 2600 billionaires as of today.
By the end of the month, 1800? Maybe?
Burn Baby Burn!!
Don’t worry about the billionaires. Trump will have a way to bail them out. That’s how the system works isn’t it?
If you’re a billionaire this virus isn’t an issue, it’s the self employed middle class near retirement that invested in the market who are double fucked. Any financial help from the govt when this virus hits us will go to small/med/large businesses first, read up on Aussies plan. I imagine our response will be along the same lines. https://treasury.gov.au/coronavirus
You just confirmed the leftest adage, that “we hate the rich, more than we love the poor”
Updates from Italy and France:
Italy is fining and arresting people who violate their restriction of movement or otherwise break their lockdown rules. “Citizens who are out on the streets have to carry a document that states why and where they are going.”
In France, “schools, creches and universities across France will be closed from Monday”. Macron has also asked that all people over the age of 70 remain at home. Euro News Coronavirus
it is good that you keep Nigel Latta ‘s message front and center it is a voice of sanity against uncalled for racism. Agree with cancelling the likes of Pacifica and there are other events that should follow the lead including the Memorial Service.
Incredible that a US$1.5 Trillion (that’s $1,500,000,000,000 – yes that many zeroes) liquidity injection via money printing by the Fed gave merely a blip in the market decline. The only reason the stock market didn’t go lower is because the Wall Street circuit breakers kicked in once it hit -10%… which means there are still an unknown amount of unfulfilled sell orders pending for the market open tomorrow. Total disaster.
Since China has been lying about this virus from day 1 – which was actually now almost certainly October 2019 (and China failed to tell anyone because Chinese Totalitarianism), I suspect it’s already a lot more globally rampant than anyone knows (including NZ).
I’m just floating this out there, but maybe it’s already fairly widespread but only people that actually get sick are being tested but most people aren’t getting sick (and thus wander around spreading Chinese Corona Virus without knowing they already have/had it). Has any country tried testing a random 10,000 people from their population (sick or not) and see if they have/had Chinese Corona Virus?
PS: there is nothing wrong about calling it “Chinese Corona Virus”, unless you also have a problem with “Spanish Flu”, “Hong Kong Flu Virus B”, and “Ebola Virus” – all named after the regions they originated.
Spanish flu did not originate in Spain. They merely started reporting about it first
For many this will be the first real shock they have suffered to their kiwisaver accounts. My fear moving forward is that kiwis faith in investing in shares or anything else other than housing will now be to such a degree that our housing situation is only going to severely worsen. I have taken a $10k hit to my savings in the last two weeks, and many others will be far worse off. This Coronavirus pandemic will eventually be behind us. My fear is about the coming crisis in inequality that is about to explode again, moving forward. Like all these financial downturns, the rich ride it out and get wealthier in the long run whilst the poor die. Covid 19 is only the beginning of the pain for many.
My fear is about the coming crisis in inequality that is about to explode again, moving forward.
If the Nats get in at the next election, then that explosion of inequality is inevitable.
(and imo, if Tamihere ends up being the decider, it’s probably a done deal.)
Yes Martyn we are in the twylight zone now as Jacinda is dillydallying and the maypole playing bumb, so we over 70’s will die prematerly with no assistance to us for sure.
Guess she was planning to killl off us as she considereds us as a drag on the Government so without us around they dont need to pay pensions to us.
Sad day when we paid taxes al our lives to be looked after in our golden years.
Sadly our gradchidren will suffre with our loss so she is hurting the children of the next generation at the same time but lest she cares it seems.
Guess she was planning to killl off us
CleanGreen, You are losing the plot, mate. Please, get a grip on reality.
CleanGreen, We’re all here for a short time only. I know, it’s a painful truth.
But once you fully accept that reality, it can become easier to deal with.
Just be thankful for the time that you have, and the life that you’ve had.
If you’re reading this, then you’re still here now 🙂
Be thankful for that.
CleanGreen, When I first read your comment I thought it was satire, or an attempt at some sort of humour. But I know from your other comments that you’re a sincere person, who says what you feel. Yet, you have to know that it’s crazy talk to blame Jacinda for the coronavirus pandemic.
I can only think that you’re suddenly facing the reality of it. In which case, there are things you can do to become more prepared. Be ready to stay at home for longer periods of time; make sure your home is as warm and safe as you can easily get it. Make sure you have the basic foods there that you’ll need, as well as water of course, some paracetamol, and the basics to get you through if there’s a power outage.
Make contact with your children, let them know where you’ll be. Arrange with them now to contact you regularly. Once the pandemic takes hold, have your children check up on you daily if possible, whether by phone or however.
And, don’t panic, don’t say, “Oh it’s all over”. Even for the most at-risk group, the survival rate is still 75%, isn’t it? Just decide that you and your partner are going to be among those 75%, if you were ever to test positive for the virus. What is it that they say… Prepare for the worst, but expect the best. Follow through on that and you’ll be fine.
CLEANGREEN I think we should send CLEANGREEN to America and check and see if they are doing better than Jacinda. What a stupid statement to make. Jacinda is trying to kill old people off. I think effectivley closing our borders by everyone having to self isolate is a good thing and shows Jacinda is doing the right thing. Stupid bloody “Nasty Nat” trolls is what NZ can do without.
This is the moment when either a) the US elites get their shit together and act responsibly toward their nation and people, or b) America abdicates its position as the world’s pre-eminent superpower, and corporations squabble like vultures over the corpse
My money is on option (b), this will be more of the same, but this time the Emperor is naked in the street and nobody will be fooled by MSM demented rhetoric, as the bodies pile up and Wall St spirals into oblivion.
The only way forward from the collapse of the capitalist system is collective ownership of ALL banks and listed corporations. No more tax havens. No more billionaires. No more systemic crises in housing, health, education because of predatory selfish plutocrats.
Another French-style Revolution is becoming more likely.
Personally, I don’t engage in Twitter. I hate the stupid name: ‘Twitter’ Yuk. To tweet, thus with which I woo. Gah.
I don’t do ‘Instagram’ either. Nor Facebook. Who could? A rabble of the masses jabbering about their part in a great scheme of things is like lying awake and listening to termites eat your home’s foundations.
The basics is where my interests lie and I believe it’s where AO/NZ’s survival is.
5 million people on AO/NZ.
AO/NZ = bigger than UK.
( Canterbury @ 660,000K. Holland @ 17 million. That means Canterbury with 3x times AO/NZ’s entire population. Stop and think about that for a moment?)
South Island=Virtually empty. Serious. Been down this way? Come and have a look? Bring a shovel and a packet of vegetable seeds.
Auckland= Why?
Why is Auckland? How, is Auckland?
How is Wellington?
We farm. That, is what we do. We farm the soil to grow stuff and things to export to consumers. Like it or not, that. Is what we do. That, is all we do of any significance.
So? How is Auckland where it is, and is what it is? ( I love Auckland. There in lies the rub.)
We must insist that our laughable gubbimint closes down our border to everyone effective several weeks ago. No one in until after a quarantine period. No. One.
To let one sick person in, in a casual manner is to soft-sabotage our social and economic culture which, of course, puts us all at risk.
Ever heard of the saying ” Charity begins at home.” ? Do you know what it means in a literal sense?
It means take care of one’s self first. Then, help others.
Would you leave the front door of your home open to allow anyone to wander through for no particular reason?
Yes, you would? Then you’re an idiot. Are we idiots then? Is our gubbimint making as look like fools?
How do you feel about that?
(RIP Grace H… xxx We miss you terribly. )
There’s more to NZ than farming, countryboomer. We mainly speculate for capital gains. But we also sell off vast tracts of farmland, forests, and fisheries to the highest overseas bidder. And employ slave labour to do minimum wage jobs and sex work. And turn a blind eye to education rip-offs. And force the next generation of Kiwis overseas to make a living. And exploit whoever is left here among the working poor by extracting punitive rent.
Middle class kiwis are complicit in the theft of a nation’s future. And we self righteously judge other countries for being less “liberal”. Shame on us
Bitcoin (and Crypto’s generally) just collapsed by ~50%. I have no idea what is going on, but you couldn’t tear me away from the screen right now.
https://cryptowat.ch/
There has been much talk of placing employees and employers on welfare benefits over the coming weeks to help them through the viral economic collapse. The government has to treat these people as I was treated when applying for social assistance: deny them any assistance until they exhaust their life savings (for myself, two years of paying rent and buying food while looking for work, and when I did find a job, I was made redundant three days later by the Canterbury earthquakes), including selling assets such as cars, houses, property and businesses. Only then can our people apply for financial assistance and witness firsthand the sadists at WINZ. Sell.
The issue is the utter lack of testing inside America where the virus is now out of control
Is he doing that to keep the numbers down?
If people are dying without being tested or diagnosed, hey “it didn’t happen”…
I don’t know. Is that possible?
it’s not the threat of infection from bloody Europe!
Pasifika has at last been cancelled.
https://www.newscientist.com/article/mg24532733-400-why-the-coronavirus-is-different-from-flu-and-warrants-major-action/?utm_source=NSNEW&utm_campaign=3e7fc15851-nsday_120320&utm_medium=email&utm_term=0_e65fab71ff-3e7fc15851-379488655
https://www.newscientist.com/article/2235847-coronavirus-what-are-the-worst-symptoms-and-how-deadly-is-covid-19/?utm_source=NSNEW&utm_campaign=3e7fc15851-nsday_120320&utm_medium=email&utm_term=0_e65fab71ff-3e7fc15851-379488655
If we survive this … as with the medieval Black Death, there will be an economic reset. In the middle ages, so many serfs and peasants died, that it change the socioeconomic order for ever. Workers could now ask a premium for their labour, there was lots of vacant land and houses to be shared out. Not saying this is a good scenario. But calamities on this scale do change the world. I just hope I survive it
The proportion of deaths to population with this coronavirus is (so far) minuscule compared with that caused by the black death., so I don’t think it will bring about economic changes comparable with those engendered by the black death.
Central banks are flooding the futures markets with cash (it’s clearly not just the US). I saw the Dow futures go from -600 to +400 in a matter if minutes. They’re determined to see a major boost up tomorrow.
…. and they got it. +2000 on the DOW. Well done, Donald. [slow clap].
What will end first, The Virus or Martins use of that old Latta comment?
I’m picking the virus.
Totally agree Peter Barry.
“PANIC”
https://www.youtube.com/watch?v=Hks6Nq7g6P4#action=share
“Trump’s madness” was fully on view as he, Baby Trump, having adjusted his daiper, tries to explain about the Coronavirus National Emergency.
“These are two very big words,” he said. And no, I am not kidding!!!
Imagine if that were Jacinda. Can you imagine her saying, “These are two very big words”.
(Or just about any other world leader today.)
Absolute madness. Two very big words
Internal Affairs Minister Tracey Martin met with Australian politician Peter Dutton, who has now tested positive for coronavirus, in the US six days ago. Martin and Dutton met at a Five Eyes meeting in the White House in Washington DC on March 7, according to a press release from Martin’s office.
——–
A spokesman for Martin said she was self-isolating and would be getting tested for coronavirus on Saturday morning. Tracey Martin to be tested
One of the more poignant aspects of the pandemic is that doctors may have to choose who to save.
Likening the need to subject infected patients to triage systems set up for wars or natural disasters, the doctors said the “first come, first served” basis of admission to scarce intensive care beds would need to be changed.
“It might become necessary to set an age limit on those entering intensive care,” the advice said.
“Resources may have to be used first for those with a higher probability of survival and, secondly, who has the most years of life left, and offer the maximum number of benefits to the majority of people.” Doctors propose intensive care age limit
Unable to deal with the coronavirus pandemic at home, Trump tries to divert attention, to create a distraction, by bombing Iraq:
Trump authorises bombing attack
Iraqi Army Denounces Attacks as Violation of Sovereignty
Spanish flu did not originate in Spain. They merely started reporting about it first
From what I see reading mostly liberal websites Trump is the worst thing about the Corona virus. Reading conservative websites he is going great. What can be wrong with stopping all traffic from Europe to the USA. Trump is caring about lives. The economy can sort itself out later.
From what I see reading mostly liberal websites Trump is the worst thing about the Corona virus. Reading conservative websites he is going great. What can be wrong with stopping all traffic from Europe to the USA. Trump is caring about lives. The economy can sort itself out later.
Reading conservative websites he is going great.
Peter Wehner is a lifelong Republican. He worked in three GOP admins, including for both George Bush and his dad. An article by Wehner has just been published in The Atlantic. It is entitled, The Trump Presidency is Over
It aint over yet. Europe & the US next inline to take the hit and then probably the continent of Africa, then South America. All with the exception of Russia and outlying states that are yet to report.
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