A Guitar And Gear Support Forum

We're back to where we were pre-COVID recession. I'm sure that's great for those living or about to live on what they have invested.

It's certainly good for the market and for retirement funds, but not really a great representation of the everyday economy. Most working/regular people will be feeling those effects for years.

Not to mention that people are still getting sick and dying from the disease at a pretty alarming rate.

golem wrote: ↑Mon Jun 08, 2020 5:42 pm We're back to where we were pre-COVID recession. I'm sure that's great for those living or about to live on what they have invested.

Only the Nasdaq is back...the SP-500 still down 4.5 % and the DJ-30 still down 6.7 %. But still impressive...when you fire a whole lot of workers and don't hire them back....profits expectations move higher. Let's see if it can be maintained and is everyone gets back to where they were.

Tonray's Ghost wrote: ↑Mon Jun 08, 2020 7:58 pm

golem wrote: ↑Mon Jun 08, 2020 5:42 pm We're back to where we were pre-COVID recession. I'm sure that's great for those living or about to live on what they have invested.

Only the Nasdaq is back...the SP-500 still down 4.5 % and the DJ-30 still down 6.7 %. But still impressive...when you fire a whole lot of workers and don't hire them back....profits expectations move higher. Let's see if it can be maintained and is everyone gets back to where they were.

That's just it...lets see if people get back to where they were. Where they were, is not where they were before the last recession/economic slowdown.
The fact is, it's been damn hard to get back to where you were for quite a while around here for most people.
It may look like you have more, then you can't work for a week.....or several...

I share the skepticism many have expressed and it's actually one reason I'm still planning to wait several months to buy a house. I also wonder what affects having this many people out of work for so long will have. I wonder if market behavior has been over-optimistic.

The COVID lockdowns disproportionately hurt small businesses. The big tech companies will be just fine (NASDAQ). Other larger public companies will see market share gains since the small guys are wiped out, so they will do OK with a bigger slice of a smaller pie (S&P 500). The smaller private companies and the millions of people who worked for them are the ones who are fucked (your neighbors).

It is good to see it rebound. It is a good sign.

I'd be more optimistic if the gains weren't in part due to the Fed printing trillions of dollars. While I'm glad to see my retirement fund not being flushed down the toilet for now, I wouldn't be surprised to see some rocky days ahead. I wish we could be cheering the rebound of our local economies. While people appear to be spending like drunken sailors lately since more retail stores have re-opened, I can't imagine that is sustainable. At least half of the families I know, including my own, are experiencing some level of under/unemployment. Stimulus and unemployment will be running out soon, so I really hope we can get people back to work safely before that happens.

uwmcscott wrote: ↑Mon Jun 08, 2020 7:42 pm It's certainly good for the market and for retirement funds, but not really a great representation of the everyday economy. Most working/regular people will be feeling those effects for years.

Not to mention that people are still getting sick and dying from the disease at a pretty alarming rate.

our ICUs here in town have hit capacity just in the last couple days almost 3 weeks since AZ "reopened"

The market is rising back, but the working class and lower middle class have been further hollowed out.

honyock wrote: ↑Tue Jun 09, 2020 12:04 pm our ICUs here in town have hit capacity just in the last couple days almost 3 weeks since AZ "reopened"

Yes, our marketing department sends out a comprehensive "COVID stats" email every morning summarizing news from world, national and state sources.

It's depressing to see many countries in the world reporting "disease free" or "no new cases in X days/weeks" while things here just keep getting seemingly worse and worse.

tonebender wrote: ↑Tue Jun 09, 2020 8:12 am It is good to see it rebound. It is a good sign.

Yea. Some last part of the recovery will take a long time but I do hope we can get most people somewhat back to where they were but its going to be horrible for lots of small businesses out there. Thats even if they didnt get looted or burned down.

honyock wrote: ↑Tue Jun 09, 2020 12:04 pm

uwmcscott wrote: ↑Mon Jun 08, 2020 7:42 pm It's certainly good for the market and for retirement funds, but not really a great representation of the everyday economy. Most working/regular people will be feeling those effects for years.

Not to mention that people are still getting sick and dying from the disease at a pretty alarming rate.

our ICUs here in town have hit capacity just in the last couple days almost 3 weeks since AZ "reopened"

Some area may need to relock down a bit I think the science is getting pretty solid that we lockdown the older and compromised and let the rest keep working with precations. Now there are new reports that asymtomatics are very unlikely to spread the virus.

nomadh wrote: ↑Tue Jun 09, 2020 1:42 pm Now there are new reports that asymtomatics are very unlikely to spread the virus.

I think that's the most frustrating part - there are "reports" that show just about every possible scenario.

I find it hard to believe that it can only be transmitted by people with symptoms yet it has reached literally every nook and cranny of the world in a span of a few months, even with all the lockdown measures that were taken here in the US. Then again, i'm not a doctor nor an infections disease specialist so I have to rely on them to tell me what's up or down.

uwmcscott wrote: ↑Tue Jun 09, 2020 1:59 pm

nomadh wrote: ↑Tue Jun 09, 2020 1:42 pm Now there are new reports that asymtomatics are very unlikely to spread the virus.

I think that's the most frustrating part - there are "reports" that show just about every possible scenario.

I find it hard to believe that it can only be transmitted by people with symptoms yet it has reached literally every nook and cranny of the world in a span of a few months, even with all the lockdown measures that were taken here in the US. Then again, i'm not a doctor nor an infections disease specialist so I have to rely on them to tell me what's up or down.

People are selfish and stupid. They will not self-isolate, wear PPE, or quarantine if they feel sick. Because, you know, they "woke up in a free country".

nomadh wrote:

honyock wrote: ↑Tue Jun 09, 2020 12:04 pm

uwmcscott wrote: ↑Mon Jun 08, 2020 7:42 pm It's certainly good for the market and for retirement funds, but not really a great representation of the everyday economy. Most working/regular people will be feeling those effects for years.

Not to mention that people are still getting sick and dying from the disease at a pretty alarming rate.

our ICUs here in town have hit capacity just in the last couple days almost 3 weeks since AZ "reopened"

Some area may need to relock down a bit I think the science is getting pretty solid that we lockdown the older and compromised and let the rest keep working with precations. Now there are new reports that asymtomatics are very unlikely to spread the virus.

WHO just walked that back about the asymptomatic transmission.

nomadh wrote:

honyock wrote: ↑Tue Jun 09, 2020 12:04 pm

uwmcscott wrote: ↑Mon Jun 08, 2020 7:42 pm It's certainly good for the market and for retirement funds, but not really a great representation of the everyday economy. Most working/regular people will be feeling those effects for years.

Not to mention that people are still getting sick and dying from the disease at a pretty alarming rate.

our ICUs here in town have hit capacity just in the last couple days almost 3 weeks since AZ "reopened"

Some area may need to relock down a bit I think the science is getting pretty solid that we lockdown the older and compromised and let the rest keep working with precations. Now there are new reports that asymtomatics are very unlikely to spread the virus.

I'll be working just like I have been all along, our biggest customer just got FDA approval for antibody tests so we need to keep cranking that wheel so to speak.

honyock wrote: ↑Tue Jun 09, 2020 2:49 pm

nomadh wrote:

honyock wrote: ↑Tue Jun 09, 2020 12:04 pm
our ICUs here in town have hit capacity just in the last couple days almost 3 weeks since AZ "reopened"

Some area may need to relock down a bit I think the science is getting pretty solid that we lockdown the older and compromised and let the rest keep working with precations. Now there are new reports that asymtomatics are very unlikely to spread the virus.

WHO just walked that back about the asymptomatic transmission.

Yea. And then you got to wonder if thats real or political again. Probably somewhere in the middlle . like so many things.

There is politics in every facet of life but this forum. Let's keep it that way. Otherwise I have no free zone to visit.

I agree with comments pointing toward trillions from Fed, and that the middle class consumers (big part of job creators) are worse off than before, when many US families had not more than 400$ in savings. A sense of covering bases, even if paycheck to paycheck, is gone. Wait until unemployment dries up for many after .... 13 weeks ?
I think markets are full of froth, not profits. Commercial real estate will take a while to readjust to new norms. Maybe rentals will come down as some old office space permanently moves to homes. Heard a BBC doc on that just this morning.

https://www.youtube.com/watch?v=vfu3hqXp9Ro[media]

Market dumped over 1,800 points today. "Tech" LOST $270 BILLION in valuation in one day. States "re-opening" are seeing new COVID-19 cases skyrocket. Arizona up 300% and Florida up 46% in one day. The Virus is spreading towards Middle America unchecked. This does not bode well. Conservative estimates are that 250,000 DEAD by year end with over 7 MILLION cases. "Rallies" will be a breeding ground for mass casualties...oh and you MUST sign a "no lawsuit" if you get infected at one. WEAR YOUR MASKS PEOPLE no matter where you are.

Zipslack wrote: ↑Tue Jun 09, 2020 2:12 pm

uwmcscott wrote: ↑Tue Jun 09, 2020 1:59 pm

nomadh wrote: ↑Tue Jun 09, 2020 1:42 pm Now there are new reports that asymtomatics are very unlikely to spread the virus.

I think that's the most frustrating part - there are "reports" that show just about every possible scenario.

I find it hard to believe that it can only be transmitted by people with symptoms yet it has reached literally every nook and cranny of the world in a span of a few months, even with all the lockdown measures that were taken here in the US. Then again, i'm not a doctor nor an infections disease specialist so I have to rely on them to tell me what's up or down.

People are selfish and stupid. They will not self-isolate, wear PPE, or quarantine if they feel sick. Because, you know, they "woke up in a free country".

Not everyone is like that. Even if they do value whatever freedom we have left. Some are careful and respectful of others when they are sick. Long before covid was around. People are and will always be a mixed bag.

fullonshred wrote: ↑Thu Jun 11, 2020 8:34 pm
Not everyone is like that. Even if they do value whatever freedom we have left. Some are careful and respectful of others when they are sick. Long before covid was around. People are and will always be a mixed bag.

The problem is, every bag has some nuts in it.