Down goes the Dow

VS-SJW-IR-TS idiot wrote:

Ghost of Igloi wrote:I attended one of the big Vietnam War protests in San Francisco in the fall of 1969. I was there more for something interesting to do than one with clear political views. I had just turned 19 years old, and was an immature sophomore in college.

Weren't you old enough to serve? If so, curious why you did not. Conscientious objector? Just preferred college?

the idiot,

The lottery for the draft was December 1, 1969. I had been a full time college student for a year and a half, and received a 2-S deferment. That meant those called up would be the first 365 numbers drawn, then mine at #19. I don’t recall exactly, but they never made it to all 365 numbers. The rules were you had to remain a full time student and keep a 2.0 GPA (little foggy here on the particulars) to keep your 2-S. At the time I was ambivalent on the war, and was more interested in my running. Troop levels in Vietnam peaked the year before when I was finishing high school and my first semester of college. Draft was suspended in December 1972 during my last year in college.

Igy

Face the fax wrote:

Ghost of Igloi wrote:

I am proud of my record of working with and living in minority communities.

Igy

Eagle, ID

2010 census

The racial makeup of the city was 94.4% White, 0.3% African American, 0.5% Native American, 1.6% Asian, 0.1% Pacific Islander, 1.0% from other races, and 2.0% from two or more races. Hispanic or Latino of any race were 4.7%.

Have you ever had a person of color to your house? To dinner? Have you ever worked intimately, every day with a person of color? Have you ever personally sacrificed your own financial welfare to help people of color?

If you can’t answer yes to all three, then shut up.

1978 my second year coaching at New Mexico Junior College, first cross country team I recruited. Two white guys, and third at the NJCAA. The Navajo Indian was an early graduate for his Nation with an Associates degree. I worked very hard to keep him in school. A big cultural adjustment. He was from Laguna Acoma west of Albuquerque. One of my other runners from that team coached on that reservation for years. You plant seeds, they will grow. My pay that year to coach was $100 a month.

https://imgur.com/a/lhSWUqW

At the time two popular TV shows were Room 222 and The White Shadow. If you have ever seen these shows, I thought of myself that way. My wife was working as a special education aide while finishing her degree. Back then you were paid once a month, and I can remember us going to a pot of beans and corn bread at the end of the month. Our income was a around $7,000 a year. In addition to coaching I picked up a couple of classes teaching at $600 a piece. Although we qualified for food stamps we never took them. Even at the end of my coaching career (1996) I never made more than $60,000, and was happy for that. I married well, doubt many would have stayed. In the end it makes you resilient—anti fragile. :-)

Racket: a lot of boomers got their heads handed to them in Feb and March:

https://twitter.com/michaelbatnick/status/1272883270158553088?s=21

Ghost of Igloi wrote:

At the time two popular TV shows were Room 222 and The White Shadow. If you have ever seen these shows, I thought of myself that way. My wife was working as a special education aide while finishing her degree. Back then you were paid once a month, and I can remember us going to a pot of beans and corn bread at the end of the month. Our income was a around $7,000 a year. In addition to coaching I picked up a couple of classes teaching at $600 a piece. Although we qualified for food stamps we never took them. Even at the end of my coaching career (1996) I never made more than $60,000, and was happy for that. I married well, doubt many would have stayed. In the end it makes you resilient—anti fragile. :-)

Man, I was devastated when The White Shadow went off the air. My buddy and I loved that show.

But I’m curious what you mean by “doubt many would have stayed”. Stayed with you, as in stayed married? Or stayed in that situation not making a lot of money?

Stayed married was the inference. Divorce is relatively high in coaching circles. Takes a special spouse. Weekends gone for away track meets. At the end of my career I was busy or out of town about 25 weekends a year.. My wife never complained, but as my own children got older it was natural to want to be at home. My wife and I lived in the mountain states when we were first married. Enjoyed the lifestyle, got Idaho teaching certificates and moved here.

Ghost of Igloi wrote:

Face the fax wrote:

Eagle, ID

2010 census

The racial makeup of the city was 94.4% White, 0.3% African American, 0.5% Native American, 1.6% Asian, 0.1% Pacific Islander, 1.0% from other races, and 2.0% from two or more races. Hispanic or Latino of any race were 4.7%.

Have you ever had a person of color to your house? To dinner? Have you ever worked intimately, every day with a person of color? Have you ever personally sacrificed your own financial welfare to help people of color?

If you can’t answer yes to all three, then shut up.

I can answer yes to all FOUR!

Now please tell us more about the minority community you live in. It must be very challenging with a 94.4% white demographic.

Face the fax wrote:

Ghost of Igloi wrote:

Have you ever had a person of color to your house? To dinner? Have you ever worked intimately, every day with a person of color? Have you ever personally sacrificed your own financial welfare to help people of color?

If you can’t answer yes to all three, then shut up.

I can answer yes to all FOUR!

Now please tell us more about the minority community you live in. It must be very challenging with a 94.4% white demographic.

Good for you, and you can count too. I never said I currently live in a predominately minority community. I did lift weights next to a Black man this morning. I let him take the 35 pound plates from the squat rack because he asked nicely. I saw another one on a treadmill. Does that count?# #BLM ##ACAB

?

the market is up 30% AND there has never been so much money on the sidelines.

Weird stuff.

https://www.wsj.com/articles/investors-are-sitting-on-the-biggest-pile-of-cash-ever-11592299801

agip wrote:

the market is up 30% AND there has never been so much money on the sidelines.

Weird stuff.

https://www.wsj.com/articles/investors-are-sitting-on-the-biggest-pile-of-cash-ever-11592299801

Get ready for an enormous pop then. All those funds have an obligation to actually do something with all that money. Idk if it'll be bonds or stocks or whatever but all that money has to come crashing back in eventually.

Racket wrote:

agip wrote:

the market is up 30% AND there has never been so much money on the sidelines.

Weird stuff.

https://www.wsj.com/articles/investors-are-sitting-on-the-biggest-pile-of-cash-ever-11592299801

Get ready for an enormous pop then. All those funds have an obligation to actually do something with all that money. Idk if it'll be bonds or stocks or whatever but all that money has to come crashing back in eventually.

might not be a pop - much of that money came from selling stocks during the spring...did you see that chart I put up suggesting 1/3 of 60somethings sold every share in the spring? Fidelity data.

My gut tells me those people won't rush back in - they'll drip back in, still waiting for a crash. Which would suggest a constant support for markets, not a rush back in.

All eight indexes on our world watch list posted losses through June 15, 2020. The top performer is our own S&P 500 with a loss of 5.08%. China's Shanghai is in second with a loss of 5.25% and in third is Tokyo's Nikkei 225 with a loss of 8.99%. Coming in last is London's FTSE 100 with a loss of 19.59%.

https://www.advisorperspectives.com/dshort/updates/2020/06/15/world-markets-update-june-15-2020?bt_ee=LpfRVK9p8V43oFpiuznLDpCuatECcUJ4RXwR7HqynPLYM0czpyigVtVw6UfhgClr&bt_ts=1592311401664

agip wrote:

Racket wrote:

Get ready for an enormous pop then. All those funds have an obligation to actually do something with all that money. Idk if it'll be bonds or stocks or whatever but all that money has to come crashing back in eventually.

might not be a pop - much of that money came from selling stocks during the spring...did you see that chart I put up suggesting 1/3 of 60somethings sold every share in the spring? Fidelity data.

My gut tells me those people won't rush back in - they'll drip back in, still waiting for a crash. Which would suggest a constant support for markets, not a rush back in.

Most of this, including bank deposits, is the result of corporations tapping their credit lines and record ( IG ) bond issuance.

I did hear a comment from Powell on unemployed workers banking unemployment benefits and others with stimulus payments, not spending them.

Oh, missed loan payments and defferals.