McInnis 03 said:

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The bazooka bill

https://financialservices.house.gov/uploadedfiles/fsc_covid-19_legislative_package_-_03.18.20.pdf

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I don't think that's what passed.

Oh never mind. It's just two checks. I read somewhere it was per month.

khaos288 said:

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gig em 02 said:

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khaos288 said:

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gig em 02 said:

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I know plenty of people make $300k+ that live paycheck to paycheck. I also know millionaires with less than $100k in "income". Oh well, nothing better than handing thousands of dollars to people that have no idea how to handle their money. If they weren't smart enough to have an emergency fund, why would anyone think they'd be smart enough to use cash appropriately?

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This is the worst take I've seen on texags maybe ever.

You think "being smart" is the reason most people don't have an emergency fund? The number of people I know barely scraping by and worrying about rent/mortgage versus the number of people who spend lavishly every month with zero savings has to be an infinite ratio. I don't know anyone in the second category, and tons in the first.

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You don't know anyone in the second group, or you aren't aware that 95% of the middle class is in the second group? You don't really think that people can afford $1000 iphones, $50,000 F150s, netflix, data plans, cable, pandora, apple music, gym memberships, eating out, alcohol, cigarettes, etc., do you?

Send me the budgets of 10 of the 'tons' of people you know and I'll carve out plenty over the last decade of economic prosperity for them to have an emergency fund.

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I don't have the budgets of my friends. That's an insane request. I do know I see them with budget/cash cars, none of them are smokers, and very few are out there buying the newest iphone every year. I can tell you for sure my parents are in this group. The have a 15 year old car, and a 28 year old work van for transportation. They rarely eat out, and would kill to have a couple grand in the bank. They're hoping to continue working well after starting to collect social security so they don't leave us with a pile of bills, and they don't have retirement money anyway.

I think you're spouting rhetoric of the loud few instead of the silent majority. I can already tell there's not going to be a point to this arguing relevant to investing though, so we need not even continue conversing.

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You understand finance much better than the average person. It isn't insane to talk to your friends or parents about money, especially when you know they need help. This is going to be especially true over the next couple months when people need help prioritizing expenses and digging themselves out of holes. It isn't insane to ask your buddy that knows about cars to help you fix your car, and it isn't insane to ask your buddy that knows about budgeting to help you with your budget. I think you will be blown away with how poorly people manage their money.

You don't know your friends budgets, yet you will repeat the talking points as if they are true (even though you admit you have no idea) and then accuse me of spouting rhetoric. Maybe don't just brush something off just because it challenges your world view (which you admit isn't a view based on a review of the facts).

That's all I got. Happy to read your response but I agree this is off topic so this is my last response.

IrishTxAggie said:

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Prognightmare said:

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IrishTxAggie said:

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gig em 02 said:

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IrishTxAggie said:

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Exsurge Domine said:

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aginlakeway said:

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Exsurge Domine said:

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I read somewhere that the average person who makes 250k/year has like 20k liquid to his name

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It depends for how many years he's made 250k.

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It shouldn't

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It does. People that are generally in that income don't keep large amounts of cash around. Money in the bank doesn't "work" for them.

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Depends how you define "liquid", its not uncommon for people to consider stocks "liquid".

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I define liquid as I can walk into a bank and walk out with $20k in under 5mins...without it being a robbery

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20K? My divorce is almost over. Where can I meet you for hookers and blow?

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Two things I don't share:
My wh0res
My cocaine

I'll raise a glass of bourbon with ya though.

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You *******.

aginlakeway said:

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McInnis 03 said:

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The bazooka bill

https://financialservices.house.gov/uploadedfiles/fsc_covid-19_legislative_package_-_03.18.20.pdf

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I don't think that's what passed.

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Last I heard Mitch is keeping them in senate until stage 3 is passed.

Any idea when we can expect this and if you expect Hotel, Airlines, Cruises to pop? My guess is they are heavily shorted already.

https://context-cdn.washingtonpost.com/notes/prod/default/documents/c6ca5eb3-9e59-4ed6-815a-807a559c7022/note/a9b21202-a1c9-48c1-b7ff-75213dbc9149.pdf#page=1

Quote:

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McConnell said this larger, more comprehensive relief bill will also be an effort to "put money directly into the hands" of American workers and families.

But McConnell will certainly need buy-in from Senate Democrats, and eventually, House Speaker Nancy Pelosi, to pass what is expected to be one of the largest, most expansive emergency spending packages in American history.

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https://abcnews.go.com/Politics/mcconnell-urges-colleagues-support-coronavirus-economic-relief-bill/story?id=69664853

"Payment amounts would be fixed and tiered based on income level and family size. Treasury is modeling specific options."

https://www.congress.gov/bill/116th-congress/house-bill/6201

Is this it?

IrishTxAggie said:

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docaggie said:

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There may be some selection bias here though.
What they're currently doing in Italy is that they've established criteria for whether someone gets a ventilator or not. Over a certain age? No ventilator. They are literally selecting who potentially lives or dies.
So, the older and sicker are the ones left off ventilatory support, therefore they are more likely to die. I'm not saying that's why those with more co-morbidities are dying - as it can certainly be the fact that they're sicker to start with - but it can play a role.

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If you were a doctor and you only had one ventilator, who would you prioritize; 70+ y/o or early 40+ y/o?

Assuming your handle is what I think it is, doctors make life and death choices all the time. It's not that they want to, but they have to weigh certain situations and potential outcomes.

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We make life and death choices a lot, but not like this, not choosing who gets a resource like a ventilator because we don't have any more. Lots of discussions with patients and families about whether it's appropriate to use one or withdraw care, but not 'we don't have one'. Stopping care when it's futile is not the same from being unable to give care to someone who might have a chance.

Y'all are right. Hr6201 passed and it's far less invasive

Prognightmare said:

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I have no doubt tha5 is the case. However, the numbers of people infected and then dying are decreasing rapidly in countries ahead of us. If these reports turn out to be accurate then this correction is almost complete, IMO.

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yes, I have hope that it will sweep through and be gone, and that the measures many are taking in this country to isolate and protect themselves will hasten this. I'd like to get back to wondering what crazy thing we're going to see the market do next.

docaggie said:

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IrishTxAggie said:

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docaggie said:

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There may be some selection bias here though.
What they're currently doing in Italy is that they've established criteria for whether someone gets a ventilator or not. Over a certain age? No ventilator. They are literally selecting who potentially lives or dies.
So, the older and sicker are the ones left off ventilatory support, therefore they are more likely to die. I'm not saying that's why those with more co-morbidities are dying - as it can certainly be the fact that they're sicker to start with - but it can play a role.

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If you were a doctor and you only had one ventilator, who would you prioritize; 70+ y/o or early 40+ y/o?

Assuming your handle is what I think it is, doctors make life and death choices all the time. It's not that they want to, but they have to weigh certain situations and potential outcomes.

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We make life and death choices a lot, but not like this, not choosing who gets a resource like a ventilator because we don't have any more. Lots of discussions with patients and families about whether it's appropriate to use one or withdraw care, but not 'we don't have one'. Stopping care when it's futile is not the same from being unable to give care to someone who might have a chance.

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We don't have that issue here in the states. But it appears that Italy does. At the end of the day, they're reserving resources for the higher probability of recovery. It's an awful situation, but it's what they're being forced into in Italy

gig em 02 said:

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khaos288 said:

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gig em 02 said:

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khaos288 said:

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gig em 02 said:

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I know plenty of people make $300k+ that live paycheck to paycheck. I also know millionaires with less than $100k in "income". Oh well, nothing better than handing thousands of dollars to people that have no idea how to handle their money. If they weren't smart enough to have an emergency fund, why would anyone think they'd be smart enough to use cash appropriately?

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This is the worst take I've seen on texags maybe ever.

You think "being smart" is the reason most people don't have an emergency fund? The number of people I know barely scraping by and worrying about rent/mortgage versus the number of people who spend lavishly every month with zero savings has to be an infinite ratio. I don't know anyone in the second category, and tons in the first.

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You don't know anyone in the second group, or you aren't aware that 95% of the middle class is in the second group? You don't really think that people can afford $1000 iphones, $50,000 F150s, netflix, data plans, cable, pandora, apple music, gym memberships, eating out, alcohol, cigarettes, etc., do you?

Send me the budgets of 10 of the 'tons' of people you know and I'll carve out plenty over the last decade of economic prosperity for them to have an emergency fund.

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I don't have the budgets of my friends. That's an insane request. I do know I see them with budget/cash cars, none of them are smokers, and very few are out there buying the newest iphone every year. I can tell you for sure my parents are in this group. The have a 15 year old car, and a 28 year old work van for transportation. They rarely eat out, and would kill to have a couple grand in the bank. They're hoping to continue working well after starting to collect social security so they don't leave us with a pile of bills, and they don't have retirement money anyway.

I think you're spouting rhetoric of the loud few instead of the silent majority. I can already tell there's not going to be a point to this arguing relevant to investing though, so we need not even continue conversing.

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You understand finance much better than the average person. It isn't insane to talk to your friends or parents about money, especially when you know they need help. This is going to be especially true over the next couple months when people need help prioritizing expenses and digging themselves out of holes. It isn't insane to ask your buddy that knows about cars to help you fix your car, and it isn't insane to ask your buddy that knows about budgeting to help you with your budget. I think you will be blown away with how poorly people manage their money.

You don't know your friends budgets, yet you will repeat the talking points as if they are true (even though you admit you have no idea) and then accuse me of spouting rhetoric. Maybe don't just brush something off just because it challenges your world view (which you admit isn't a view based on a review of the facts).

That's all I got. Happy to read your response but I agree this is off topic so this is my last response.

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I would just need to see actual facts to believe that the majority of my anecdotal evidence is full of people who are the exception. I haven't seen any of those yet. I've seen one persons opinion who flies in the face of what I've seen recently.

I did graduate during at a time that jobs were hard to come by, and most of my friends are my age. That may contribute to seeing people who don't live so frivolously as you claim the majority of the middle class is. The people I even work with now, drive cars they paid off long ago, or cheaper vehicles. None of them, except one dude I know that I just thought of, is a crazy over extender on their credit. Not to mention I obviously didn't grow up in a wealthy situation, so the majority of my parents friends are in a similar boat.

I'm not repeating any talking points from anyone. I'm pointing out what I see in my direct circle of friends and family. Those are the several families I draw my conclusions from.

I just happen to know a ton of people who aren't living richly who would put a stimulus to good use.

I would be very interested in facts and figures if you have them. I'm always open to changing my views based on new information.

McInnis 03 said:

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hedge_zer0 said:

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El Pres having a rough week, brady now this

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He already got his I'm sure

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I actually follow them closely. A SIGNIFICANT portion of the compensation package was Penn Stock and he wanted it that way. Erika too. They are hurting.

Prognightmare said:

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IrishTxAggie said:

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Prognightmare said:

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IrishTxAggie said:

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gig em 02 said:

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IrishTxAggie said:

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Exsurge Domine said:

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aginlakeway said:

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Exsurge Domine said:

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I read somewhere that the average person who makes 250k/year has like 20k liquid to his name

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It depends for how many years he's made 250k.

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It shouldn't

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It does. People that are generally in that income don't keep large amounts of cash around. Money in the bank doesn't "work" for them.

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Depends how you define "liquid", its not uncommon for people to consider stocks "liquid".

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I define liquid as I can walk into a bank and walk out with $20k in under 5mins...without it being a robbery

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20K? My divorce is almost over. Where can I meet you for hookers and blow?

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Two things I don't share:
My wh0res
My cocaine

I'll raise a glass of bourbon with ya though.

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You *******.

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I'm glad you 2 are covering the important stuff! the board needs more humor lately!

This is the huge stimulus aka bailout that Dems will fight. They will probably claim it's a wall street or fossil fuel bailout as long as they can to slip other BS into it or just screw with Trump. The big question is how long until this drops? Next week?

https://context-cdn.washingtonpost.com/notes/prod/default/documents/c6ca5eb3-9e59-4ed6-815a-807a559c7022/note/a9b21202-a1c9-48c1-b7ff-75213dbc9149.pdf#page=1

Quote:

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McConnell said this larger, more comprehensive relief bill will also be an effort to "put money directly into the hands" of American workers and families.

But McConnell will certainly need buy-in from Senate Democrats, and eventually, House Speaker Nancy Pelosi, to pass what is expected to be one of the largest, most expansive emergency spending packages in American history.

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https://abcnews.go.com/Politics/mcconnell-urges-colleagues-support-coronavirus-economic-relief-bill/story?id=69664853

They want the first checks to go out to individuals the first week of April.

Guess I should go cover my seaworld and RCL shorts this week.

Great call on DIS $6 Jul calls earlier today!

thirdcoast said:

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Guess I should go cover my seaworld and RCL shorts this week.

Great call on DIS $6 Jul calls earlier today!

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DIS capitulating at $79 was insanity. When was the last time it was there, 3 years ago? I'm just guessing, but Huge bargain there. LADR was another one today.

I did scoop ROKU at 58.50 though!

Thank you, I'm in them as well.

BREwmaster said:

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thirdcoast said:

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Guess I should go cover my seaworld and RCL shorts this week.

Great call on DIS $6 Jul calls earlier today!

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DIS capitulating at $79 was insanity. When was the last time it was there, 3 years ago? I'm just guessing, but Huge bargain there. LADR was another one today.

I did scoop ROKU at 58.50 though!

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DIS still a buy at $90? Or let it come back down?

khaos288 said:

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Boat Shoes said:

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BREwmaster said:

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thirdcoast said:

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Guess I should go cover my seaworld and RCL shorts this week.

Great call on DIS $6 Jul calls earlier today!

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DIS capitulating at $79 was insanity. When was the last time it was there, 3 years ago? I'm just guessing, but Huge bargain there. LADR was another one today.

I did scoop ROKU at 58.50 though!

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DIS still a buy at $90? Or let it come back down?

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Give it a day or two. We haven't printed two green day's in a row yet.

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I'll set an order at $80 and see if it fills over the next week or two.

aggiehunter3 said:

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Here's what I bought today:

1. CXO shortly after open at $40, but I was antsy and sold for 20% gain as it recovered to $48 intraday. FWIW Aggie CEO and solid financials

2. Added to my position of LADR (paying 8+%)

3. SBSI

4. MSFT calls for a bounce

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As an update:
1. CXO - bought back today
2. LADR - very sad to see that this thing has been crushed, but hopefully hangs on and is fine LT
3. SBSI - has really held up well during this volatility and was actually green today despite market
4. MSFT - Lost on the calls, flipped short made some money, and flipped back long today. Truly gambling.

today i went all in on OVV, got in at 2.14 and rode it up to around 2.50... lets see what tomorrow brings

Man. This is a wild week

Gonna be an ugly morning.

https://www.google.com/amp/s/www.ccn.com/dow-futures-crash-700-points-as-markets-brace-for-another-liquidity-crisis/

What a time to be alive..

Looks like the big stage 3 bailout bill could go for Friday vote, but Pelosi said it would be early next week.

You might hit it tomorrow

Prognightmare said:

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SoupNazi2001 said:

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Futures close to limit down again

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A down open and a green close would be an ideal setup.

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it is also quad witching Friday, so beware all!