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Of course, they do this a few hours after Mnuchin says the economy is fine there won't be a recession 

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On 3/14/2020 at 1:48 PM, nashvillepoke said:

I am much more productive at home.  I am on calls 12-14 hours a day.  In an office this translates to people bugging me in my office dozens of times a day.

 

On 3/14/2020 at 1:59 PM, BSUTOP25 said:

My issue as well. I constantly have people dropping by my office to chit chat about stupid unimportant shit during the day. That and I have a 1.5 hour commute (only 26 miles) both directions, so I waste 3 hours a day in the car. I’m typically angry and exhausted at the end of my commute.

I've "worked from home" for 20 years and it's a double edged sword. I may not have co-workers coming into my office but my kids and wife do. Relatives don't think I actually have a job do my dad expects me to just do whatever he needs on a weekday at 2 pm. Everything in my house is there for me and that's a distraction. All my interests and hobbies, taking long lunches, watching that Netflix series I'm only two episodes away from finishing, etc. Now I don't have a commute time but that just gets wrapped up in other work time. 

Moral of the story is that it takes self discipline to make it more productive because the company isn't providing the disciplining of working hours, take lunch now, go home now, start now, etc.

Also, you are subsidizing the company's overhead, make no mistake.  I recently built a studio in my backyard for my office because with my growing family, my house ran out of room for my work. Your company is getting free rent in your house. 

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56 minutes ago, toonkee said:

 

I've "worked from home" for 20 years and it's a double edged sword. I may not have co-workers coming into my office but my kids and wife do. Relatives don't think I actually have a job do my dad expects me to just do whatever he needs on a weekday at 2 pm. Everything in my house is there for me and that's a distraction. All my interests and hobbies, taking long lunches, watching that Netflix series I'm only two episodes away from finishing, etc. Now I don't have a commute time but that just gets wrapped up in other work time. 

Moral of the story is that it takes self discipline to make it more productive because the company isn't providing the disciplining of working hours, take lunch now, go home now, start now, etc.

Also, you are subsidizing the company's overhead, make no mistake.  I recently built a studio in my backyard for my office because with my growing family, my house ran out of room for my work. Your company is getting free rent in your house. 

I dont disagree with anything you have said here,  being in IT there was always a possibility that I didnt go go home for a day or two being in an office.  Working from home alleviates that kind of issue for me.

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1 hour ago, mysfit said:

Feds cut interest rate to 0

 

Bad call IMO

 

1 hour ago, mysfit said:

Of course, they do this a few hours after Mnuchin says the economy is fine there won't be a recession 

Trump is praising the 0 rate. Says the markets should be thrilled.

But they just sent the message that this will be bad for a long time. I don't think the markets will be thrilled with a 0 rate except as a stopgap measure.

Dow Jones Futures opened 1 hour ago down about 950 points from Friday. It is still dropping over the last hour, now down about 5% from Friday's close.

 

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6 minutes ago, FresnoFacts said:

 

Trump is praising the 0 rate. Says the markets should be thrilled.

But they just sent the message that this will be bad for a long time. I don't think the markets will be thrilled with a 0 rate except as a stopgap measure.

Dow Jones Futures opened 1 hour ago down about 950 points from Friday. It is still dropping over the last hour, now down about 5% from Friday's close.

 

First, my comments are not directed at you but rather at the situation

Cutting rates isn't going to get people to spend more and it isn't going to make up for lost income.

Frankly I'm tired of hearing about the markets and corporations while individuals are and will continue to struggle. Welfare for the rich and a few coins for everyone else with adequate healthcare out of the reach of far too many. Covered sick time out of reach. A living wage out of reach.

They are, IMO, prioritizing the wrong things.

It may be that this pandemic fuels change in this country to address the massive economic inequality.

 

Excuse me now while I fall off my soapbox 

:)

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47 minutes ago, mysfit said:

First, my comments are not directed at you but rather at the situation

Cutting rates isn't going to get people to spend more and it isn't going to make up for lost income.

Frankly I'm tired of hearing about the markets and corporations while individuals are and will continue to struggle. Welfare for the rich and a few coins for everyone else with adequate healthcare out of the reach of far too many. Covered sick time out of reach. A living wage out of reach.

They are, IMO, prioritizing the wrong things.

It may be that this pandemic fuels change in this country to address the massive economic inequality.

 

Excuse me now while I fall off my soapbox 

:)

LOL, good soapbox. Saves me from pulling mine out but can I stand on the edge of yours for one minute.

The current economic inequality is too much like past. In fact the percentage of all income controlled by those at the top today is very similar to 1928. And those who fail to remember the past.....

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Here is why the rate cut to 0 is not good.

Quote

The Fed rate cut accompanied a presentation from President Donald Trump and his coronavirus task force, which laid out its plan to combat the health impact of the coronavirus. All this should have been good news, right? Except for the fact that it demonstrates that the crisis is bigger than many of us gave it credit for when it first began.

Consider: Fed Chair Powell was forced to cut the U.S. benchmark interest rate by a full percentage point—it had been moving in quarter- and half-point increments—and had to do it on a Sunday. The regularly scheduled Tuesday and Wednesday meeting was canceled. The Fed will start buying bonds again, at least $500 billion of Treasuries and $200 billion of mortgage-backed securities. The Fed also lowered the discount rate as a way to get banks to lend to cash-strapped businesses. “So now we have the entire crisis playbook enacted before Asian markets open—with the Fed doing everything in its power, not just to support economic activity, but to keep the financial system afloat and keep credit flowing to affected households and businesses,” writes Paul Ashworth, chief U.S. economist at Capital Economics.

The market, however, appears worried that the Fed’s tools will not be enough. Many companies will find their cash flows go to zero. Without government help, they’ll be forced to fire employees and do everything they can just to stay solvent. Consumers will also have to save just to get through the next few months. That’s not something the Fed can easily cure. That’s one reason that Powell talked up fiscal policy as the only kind that can reach out to impacted industries and businesses.

https://www.nasdaq.com/articles/dow-futures-drop-1000-points-because-cutting-rates-to-zero-is-not-enough-2020-03-15

 

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United Airilnes now making deeper cuts.

Quote

United Airlines is laying out a dire situation for airlines.

It will cut 50% of its flying capacity in April and May – cuts that could extend into the peak summer travel season – and expects planes to be only 20% to 30% full at best.

https://www.sfgate.com/news/medical/article/The-Latest-Cruise-ship-in-New-Zealand-awaits-15132230.php

 

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15 hours ago, FresnoFacts said:

LOL, good soapbox. Saves me from pulling mine out but can I stand on the edge of yours for one minute.

The current economic inequality is too much like past. In fact the percentage of all income controlled by those at the top today is very similar to 1928. And those who fail to remember the past.....

Meanwhile, there hasn't been a significant usage of the Sherman Anti-Trust Act since the breakup of AT&T 38 years ago and there hadn't been a significant one for a couple decades before that. Note that in 1982 we had a REPUBLICAN president whose administration apparently actually cared about consumers.

In contrast, who is arguably more responsible for demise of the Sherman Act than anybody? The answer would be that great philanthropist and DEMOCRAT Bill Gates who proved that his company had more money to fight its breakup than the federal government did to force Microsoft to comply with the law. Now, of course, another Democrat, Jeff Bezos, has his own company which flauts the law.

Many Dems have become the robber barons that Republicans used to be. And that said, many Republican politicians are now the same spendthrifts that only Democrats used to be. There are some serious problems with this country that neither of the major political parties seems to care much about.

Now, I'll step down from MY soapbox.

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1 hour ago, SleepingGiantFan said:

Meanwhile, there hasn't been a significant usage of the Sherman Anti-Trust Act since the breakup of AT&T 38 years ago and there hadn't been a significant one for a couple decades before that. Note that in 1982 we had a REPUBLICAN president whose administration apparently actually cared about consumers.

In contrast, who is arguably more responsible for demise of the Sherman Act than anybody? The answer would be that great philanthropist and DEMOCRAT Bill Gates who proved that his company had more money to fight its breakup than the federal government did to force Microsoft to comply with the law. Now, of course, another Democrat, Jeff Bezos, has his own company which flauts the law.

Many Dems have become the robber barons that Republicans used to be. And that said, many Republican politicians are now the same spendthrifts that only Democrats used to be. There are some serious problems with this country that neither of the major political parties seems to care much about.

Now, I'll step down from MY soapbox.

Has Bill Gates actually ever revealed his party affiliation?

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25 minutes ago, renoskier said:

Has Bill Gates actually ever revealed his party affiliation?

Maybe not but if it walks like a duck and quacks like a duck, it's probably a duck: https://www.quora.com/Is-Bill-Gates-a-Democrat-or-Republican#MoreAnswers

I'll admit that I simply don't like the guy and think he's a phony. Word is Gates never invented a thing himself but instead stole ideas from others and from what I can tell his philanthropy is more a result of his wife's urging and the good PR it brings than any particular altruism. I particularly dislike the way Microsoft manipulates the computer market by almost requiring the purchase of more of its products every several years when the new versions are rarely an improvement over the old.

But I guess the poor guy simply doesn't have enough money so needs to keep generating additional income.

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My wife's industry is going through what I did in 08.  Its cataclysmic for travel related businesses. 

On my side, the retail sales have slowed dramatically the past week, but that isn't a huge part of my business.   Tract sales of windows will slow drastically in a couple weeks due to the construction lead time, so I'll take a significant hit there.  Multifamily only stops if the banks call the loans like they did in 08, I don't see that happening.   I have a couple huge rehab projects,  one in fresno, and one at Lemoore NAS.  I wonder if those might be suspended because people don't want installers in their homes.

All in all, it should be a short term blip in my business, I kind of expect about a 40% drop from my forecast a month ago, I don't expect it to linger unless there is a big recession.  But my wife's industry is screwed.

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On 3/15/2020 at 8:44 AM, NVGiant said:

Cable news has blown everything out of proportion for decades. It’s why our collective point of views can be so distorted.

Drudge has been one of the worst offenders. This morning the headline was “US Near Total Shut Down”. It linked to a Chicago news site that didn’t say anything remotely like that. It’s just completey irresponsible and unethical. 

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Trucks are being turned around from the bay area from my company because after five PM today, the shelter in place mandate from the six county bay area will make it impossible to deliver windows.  All orders for bay area dealers are being pushed out to later dates.

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2 hours ago, Nevada Convert said:

Drudge has been one of the worst offenders.

Conservative media is trying to play it as a huge cataclysm that Trump will save us from.

Liberal media is trying to play it as a huge cataclysm that Trump is not handling well.

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