Down goes the Dow

Giles Corey wrote:

Does anybody know anyone that has actually voted for Biden?

I sure don 't.

Somehow his share of the votes is twice what all the polls were saying.

Looks like a massive theft being committed out in the open.

This thought crossed my mind last night. I know a bunch of dems and even they are a bit pissed—as a matter of fact I know a few who claim to have voted for the Bern just because they felt the fix was in.

I do know 2 people who said they would vote for Biden, but I know at least one of them didn’t vote. They are both in their 70’s and both gay and single, one male, one female, one still a Fortune 500 exec and the other on a public union-hack pension. They trust him because he is close to their age, and because neither wants, as they put it, “a return to the 60´s.” I take that to mean that Bernie’s whole vibe gives them flashbacks to an unpleasant time to have been gay. FWIW

I live in MA and literally have not talked to one person who supports Biden.

Lots of Trump folks, lots of Bernie folks, some Warren supporters, and even some Bloomberg voters. Dozens of people. Not one Biden voter.

Look at the crowds for Trump and Bernie. None for Biden

Yet we are told Biden won the Dem primary in MA.

A whole bunch of reasons, for instance do you not think that the Fords would pass that tax burden on to you, or at least get you to share in it?

Then again, maybe lower-middle-class investors ARE voting for the Bern.?

Maybe it’s like being a R in a land of D Nazis—maybe a lot DID vote for Biden but will never admit it publicly because he is a known corrupt racist pervert straight able-bodied rich white male, anathema to public D rhetoric.

He is their only hope. IMO. The party is way too fragmented for any specialist to win, except for maybe some who aren’t running like Michelle O.

The guy openly talks about how he's going to go after Wall Street, raise taxes on businesses, impose a transaction tax on HFT funds and maybe other speculative trading, and crack down on corruption. Even if he's only 1% successful it will be enough to hit the bottom line and in this day and age missing quarterly revenue might as well be a death sentence.

Maserati wrote:

Maybe it’s like being a R in a land of D Nazis—maybe a lot DID vote for Biden but will never admit it publicly because he is a known corrupt racist pervert straight able-bodied rich white male, anathema to public D rhetoric.

He is their only hope. IMO. The party is way too fragmented for any specialist to win, except for maybe some who aren’t running like Michelle O.

I assume this is intentional hyperbole to highlight various aspects of modern culture especially in social circles on the left. But I've actually noticed that a lot of the impossible purity tests and "call-out culture" (as agip calls it) is increasingly being rejected in favor of lighter moods. I'm not in academia anymore because but I still see friends frequently who didn't sell their souls to industry after grad school (mostly because they couldn't; PhDs in things like philosophy are unfortunately not appreciated much outside campuses) and they've all said as much. The weird deconstructionism and critical theory stuff was kind of a fad to begin with anyways

Yes Racket, hyperbole for illustrative purposes.

BTW anybody have any idea what Berkshire has been doing through all this, with their mountain of cash? A friend always sends me their investor communications but I haven’t heard from him, maybe I should call.

[quote]Maserati wrote:

Maybe it’s like being a R in a land of D Nazis—maybe a lot DID vote for Biden but will never admit it publicly because he is a known corrupt racist pervert straight able-bodied rich white male, anathema to public D rhetoric.

That's baloney. Same baloney the MSM sold us about Trump.

The other thing about Bernie is his open association with Omar, which leaves a bad taste in the mouths of establishment dems I know.

Talk about a contradictory ticket: a Jewish President with a Muslim VP.

So at this point, we are looking at businesses that fared well under Obama, and preparing options for the future. I think that the Biden deep state has a shot against the Drumpf disco machine, especially if Obama weighs in at just the right time, to lend an “Obama 2.0” effect.

Shlt just got real for Drumpf, but he probably knew it was coming.

Giles Corey wrote:

[quote]Maserati wrote:

Maybe it’s like being a R in a land of D Nazis—maybe a lot DID vote for Biden but will never admit it publicly because he is a known corrupt racist pervert straight able-bodied rich white male, anathema to public D rhetoric.

That's baloney. Same baloney the MSM sold us about Trump.

Anecdotally I know it to be true for urban R’s I know. I am in a blue state.

Plus, I said “maybe”.?. Just throwing it out there.

Maserati wrote:

Yes Racket, hyperbole for illustrative purposes.

BTW anybody have any idea what Berkshire has been doing through all this, with their mountain of cash? A friend always sends me their investor communications but I haven’t heard from him, maybe I should call.

I mean their entire m.o. is basically to be as liquid as possible at all times to buy the dip. So they're probably just waiting for various opportunities

Sanders or warren would throw on a thick layer of regulations, much higher taxes, and much more government interference in bizness at all levels. I mean Sanders wants to have a government say on who can be on a corporate board. That's not what wall street wants.

Giles Corey wrote:

I live in MA and literally have not talked to one person who supports Biden.

Lots of Trump folks, lots of Bernie folks, some Warren supporters, and even some Bloomberg voters. Dozens of people. Not one Biden voter.

Look at the crowds for Trump and Bernie. None for Biden

Yet we are told Biden won the Dem primary in MA.

I voted for Biden. Neither Sanders or Warren can beat Trump, imo.

Market sitting on the 200 day.

Vix still highly elevated.

I think the market is waiting to see what happens with the virus. It doesn't seem to be exploding into the western world. It's growing, but hardly climbing that vertical wall into big numbers.

agip wrote:

Market sitting on the 200 day.

Vix still highly elevated.

I think the market is waiting to see what happens with the virus. It doesn't seem to be exploding into the western world. It's growing, but hardly climbing that vertical wall into big numbers.

German health minister declared it a pandemic this morning and the IMF already said global growth is going to take a massive hit.

Racket wrote:

agip wrote:

Market sitting on the 200 day.

Vix still highly elevated.

I think the market is waiting to see what happens with the virus. It doesn't seem to be exploding into the western world. It's growing, but hardly climbing that vertical wall into big numbers.

German health minister declared it a pandemic this morning and the IMF already said global growth is going to take a massive hit.

ok so why do you think the market is hanging in there, in the face of a 'massive hit' on global growth?

agip wrote:...waiting to see what happens with the virus. It doesn't seem to be exploding into the western world. It's growing, but hardly climbing that vertical wall into big numbers.

I've been following the data on a daily basis and your impression is incorrect. Growth in new cases outside China is growing very quickly, while at the same time tapering off nicely inside China. This will grow very big over the coming weeks, and will eventually be wrestled under control (as it has been, largely, inside China). However, a lot of people will get sick, and some will die, before we get there.

There's a lot of talk about how this is no worse than a regular flu. In some very simplistic ways this is true, but in important ways it is entirely wrong. Some vulnerable groups and communities (e.g. the seniors facility in WA experiencing multiple fatalities) will be disproportionately affected. This will continue to attract attention and generate concern because it is an acute, rather than chronic (like the "normal" flu and other diseases that circulate and regularly kill people), representing something unknown and unexpected. People fear the unknown, unfamiliar and unexpected, and learn to accept the regular, expected, usual.

yeah I hear you but here we are three or four months into the outbreak and...and...there are still just 128 confirmed cases in the US.

There's a disconnect here.

agip wrote:...I hear you but here we are three or four months into the outbreak and...and...there are still just 128 confirmed cases in the US.

There's a disconnect here.

The disconnect is in your understanding of the data. The growth of new cases outside China is following the same curve as those inside China, only lagging by a couple months. New daily cases reported over the past ten days outside China have been: 10, 120, 149, 127, 202, 367, 300, 390, 459, 746, 1027, 1318, 1160, 1598, 1792.

My best guess is we will be at about 50,000 cases outside China within about 2 weeks. Growth may be a little better controlled in first world countries with better health care systems and governments (I note Italy has excellent health care, but a corrupt government / society, and an explosion of cases), so Canada and US will likely see better controlled growth, but we will still have losses that people would prefer not to tolerate.

We will still be talking about COVID-19 as an important issue (and growing in importance) for several more weeks.

I can see a certain (large?) degree of head-in-sand-edness develop in coming weeks in parallel. The town-crier-in-chief will no doubt declare it FAKE NEWS. As you seem to have already decided for yourself.