The State of the Economy Thread - “Falling inflation, rising growth give U.S. the world’s best recovery”

[TheGreatBuzz]

7 hours ago, NoCalMike said:

My stimulus money went in today. Anyone else? 

Wife and I got ours last night.

 

Edit:  and a good chunk of it is going to go back to pay taxes for this year.

Edited April 14, 2020 by TheGreatBuzz

[CousinsCowgirl84]

1 hour ago, PeterMP said:

 

There actually is no formal definition of a depression. 

 

 

there are many... here is one:

 

A depression includes two general rules:^[3][4]

1. a decline in real GDP exceeding 10%, or a recession lasting 2 or more years.

 

here is another:

 

 

What Is a Depression? 

A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10 percent. in a given year.

 

and one more:

 

a long and severe recession in an economy or market.

 

 

 

 

 

 

 

[PeterMP]

5 minutes ago, CousinsCowgirl84 said:

 

 

there are many... here is one:

 

A depression includes two general rules:^[3][4]

1. a decline in real GDP exceeding 10%, or a recession lasting 2 or more years.

 

here is another:

 

 

What Is a Depression? 

A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10 percent. in a given year.

 

and one more:

 

a long and severe recession in an economy or market.

 

 

If there are many definitions that are not in agreement with one another (as indicated by what you posted), there is no formal definition.

[LD0506]

[skinfan2k]

Does anyone here use robinhood to invest? 

[BatteredFanSyndrome]

2 minutes ago, skinfan2k said:

Does anyone here use robinhood to invest? 

I just started this week.  Haven't started trading yet, but I've got some free stocks from referrals.

[Cooked Crack]

 

[skinfan2k]

29 minutes ago, BatteredFanSyndrome said:

I just started this week.  Haven't started trading yet, but I've got some free stocks from referrals.

so far i like it alot.  It's really fun to use and trying to find those cheap stocks that give you an instant return 

[FanboyOf91]

1 hour ago, skinfan2k said:

Does anyone here use robinhood to invest? 

Thinkorswim/Ameritrade. Robinhood's infrastructure is pretty bad, and they've lost their only competitive advantage in free commission pricing.

[FanboyOf91]

We're gonna need temp UBI of at least 6 months.

[No Excuses]

12 minutes ago, FanboyOf91 said:

We're gonna need temp UBI of at least 6 months.

 

Two really difficult years ahead. Would be nice to have people who aren't complete idiots in charge of the recovery post January 2021 unlike Wilbur "coronavirus will lead to a jobs boom in the US" Ross or Larry "buy stocks!!!" Kudlow.

[skinfan2k]

46 minutes ago, FanboyOf91 said:

Thinkorswim/Ameritrade. Robinhood's infrastructure is pretty bad, and they've lost their only competitive advantage in free commission pricing.

they still have free commission pricing right??  What do you mean their infrastructure is bad?

[Larry]

14 minutes ago, No Excuses said:

 

Two really difficult years ahead. Would be nice to have people who aren't complete idiots in charge of the recovery post January 2021 unlike Wilbur "coronavirus will lead to a jobs boom in the US" Ross or Larry "buy stocks!!!" Kudlow.

 

Be nice if we could assume that the GOP would help with a recovery, too.  

 

But I was around when Obama took office, too.  Have to assume that the GOP's position will be that, if things get better, it hurts their chances of regaining power.  Gonna have to fix things, despite their efforts.  

[abdcskins]

Markets have been booming the last week and a half. I'm sure the drop will come at some point, I just hope it isn't too steep.

[FanboyOf91]

14 minutes ago, skinfan2k said:

they still have free commission pricing right??  What do you mean their infrastructure is bad?

Everyone switched to free pricing because of Robinhood. As to their infrastructure,

 

https://www.theverge.com/2020/3/9/21171584/robinhood-outage-week-us-stocks-third-market

 

Quote

Stock trading app Robinhood experienced its third outage in a week as US stocks plummeted on Monday. (The fall was so bad that the stock exchange actually stopped trading for 15 minutes, which is automatically done during significant stock market drops to prevent free fall.) The issues lasted for more than five hours.

Robinhood first tweeted that trading was down at 10:06AM ET. The company tells The Verge that trading was partially restored by 10:25AM ET and everything was fully operational by 3:30PM ET.

 

[Fergasun]

When government workers start to be furloughed....  

[Barry.Randolphe]

27 minutes ago, abdcskins said:

Markets have been booming the last week and a half. I'm sure the drop will come at some point, I just hope it isn't too steep.

 

The market has been confusing me - I've been expecting a drop every day when bad news hits regarding earning reports, etc.....but it doesn't

[abdcskins]

4 minutes ago, Barry.Randolphe said:

 

The market has been confusing me - I've been expecting a drop every day when bad news hits regarding earning reports, etc.....but it doesn't

 

I think investors are encouraged by the slowing down of the virus. Certainly it is still out there and people are dying, but at least there is light at the end of the tunnel. 

[FanboyOf91]

oh boy

[hail2skins]

1 hour ago, abdcskins said:

 

I think investors are encouraged by the slowing down of the virus. Certainly it is still out there and people are dying, but at least there is light at the end of the tunnel. 

That makes sense somewhat, but I still have to wonder how this is all going to be paid for. They are talking about budget deficits of at least $4 trillion this fiscal year and $2 trillion the next. At some point, either we are getting tax hikes or drastic spending cuts.

[Mr. Sinister]

1 hour ago, FanboyOf91 said:

oh boy

 

These banks better bar their doors. 

[Momma There Goes That Man]

7 hours ago, Simmsy said:

No, my last name starts with an "S", you?

so does mine, we got ours over the weekend 

[Renegade7]

6 minutes ago, Mr. Sinister said:

 

These banks better bar their doors. 

Omg if these banks turn around and ask for a bailout as well.

[techboy]

7 hours ago, PeterMP said:

 technically, we aren't even in a recession yet.

 

What's more the NBER, who make the official call, never do it until AFTER it's over.

 

5 hours ago, CousinsCowgirl84 said:

 

 

there are many... here is one:

 

A depression includes two general rules:^[3][4]

1. a decline in real GDP exceeding 10%, or a recession lasting 2 or more years.

 

here is another:

 

 

What Is a Depression? 

A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10 percent. in a given year.

 

and one more:

 

a long and severe recession in an economy or market.

 

 

Those aren't formal definitions.

 

4 hours ago, skinfan2k said:

so far i like it alot.  It's really fun to use and trying to find those cheap stocks that give you an instant return 

 

Putting aside my normal warnings about the bad idea that is market timing and/or stock picking, if you're going to do it anyway RobinHood is a TERRIBLE way to go.

 

Someone else posted the system crash (at the worst possible moment for market timers), but there were also stories about a bug people were exploiting to give themselves infinite leverage. Horrible platform.

[visionary]