Coronavirus Economic Impact Thread

[TheCountOfNowhere]

55 minutes ago, maynardgravy said:

I've taken 30k out of Zopa, left 6k in there and will withdraw by stealth.

Im long gone from p2p

[TheCountOfNowhere]

Easyjet an iag issue CV warning 

[Loki]

Any company using Chinese sourced components much must be vulnerable

[TheCountOfNowhere]

32 minutes ago, Loki said:

Any company using Chinese sourced components much must be vulnerable

Everyone then 😳

[Loki]

Just now, TheCountOfNowhere said:

Everyone then 😳

yup!

[maynardgravy]

2 hours ago, TheCountOfNowhere said:

Im long gone from p2p

What to put it in though. A mattress account?

[spygirl]

China was always fucked. Just a matter of when i and how it was to be fucked.

The virus is probably it.

BoC cannot let the Yuan fall - Trump will kick off. Yet the economy is tanking, production collapsed.

Followed by Oz, who'll see all the Chinese reneging  on their debts, collapse in demand for coal n steel, massive currency outflows, forcing BoA to put up IRs, which will collapsing housing even more, which, when you consider the average Aussie has 2-3 houses, bought at 10x earnings, with the extra houses rented out for less than the mortgage payment ....

 

[BoSon]

14 hours ago, Green Devil said:

This is TPTB absolute worst nightmare. People stuck indoors, not spending any money. No holidays, new cars, restaurant trips, shopping trips. Printing money or even helicopter money won't make people go to restaurants cinemas. 

 

Buy shares in delivery services. They're still delivering McDonalds in Whuan in full biohazard gear. 

Indoors entertainment is the new going out. 

[JoeDavola]

My cash savings are above the FSCS limit in both my bank accounts, so I really need to put the excess into something else.

Will be interesting to see if the FTSE continues to fall before the ISA limit date, whether it might be a chance to buy in at a drop over the next month or so.

EDIT: Although the drops are miniscule when you look at it in the context of the raises over the last decade, or even since 2016....

[Green Devil]

1 hour ago, JoeDavola said:

My cash savings are above the FSCS limit in both my bank accounts, so I really need to put the excess into something else.

Will be interesting to see if the FTSE continues to fall before the ISA limit date, whether it might be a chance to buy in at a drop over the next month or so.

EDIT: Although the drops are miniscule when you look at it in the context of the raises over the last decade, or even since 2016....

I bought a first ladder into the ftse, 1x at 6500, 2x at 5500, 4x at 4500. Might be worth doing something with that with the excess. Banks aren't that safe as you know..

[Dave Bloke]

The missus was at our (French) bank yesterday and asked about the financial compensation limit and the manager said that they may not even pay out that much. I guess the French can't print money as easily as the Brits. My missus was down at the bank because she received a letter saying they may convert her savings to shares in the event of financial stress.

[Dave Bloke]

On 27/02/2020 at 08:41, BoSon said:

 

At least all those numpty managers that don't like WFH as they don't trust their workers to do enough work won't have much choice and may see it isn't all bad after all and make it more normal, so less commuting and all the issues that causes to both person doing the commute and the environment.

 

My boss is saying that Corona has vindicated his decision to move coding out of Europe to North Africa - no Covid in Morocco.

On 28/02/2020 at 15:43, BoSon said:

Buy shares in delivery services. They're still delivering McDonalds in Whuan in full biohazard gear. 

They still spit in your food before delivering it though.

[Harley]

On 28/02/2020 at 14:43, BoSon said:

They're still delivering McDonalds in Whuan in full biohazard gear. 

I thought that was normal given what's in the food!

On 28/02/2020 at 00:10, No One said:

strap in boys

Steady, don't lose focus, plenty of time for that sort of thing later.

[leonardratso]

2 hours ago, Dave Bloke said:

The missus was at our (French) bank yesterday and asked about the financial compensation limit and the manager said that they may not even pay out that much. I guess the French can't print money as easily as the Brits. My missus was down at the bank because she received a letter saying they may convert her savings to shares in the event of financial stress.

worthless bank shares. bank of mattress.

[BoSon]

Nothing that wasn't going to collapse anyway.

The world's governments will ride to the rescue by way of money printing like dick terpin to prop up the zombiie economy while robbing future generations, as per usual.

Maybe the world will suspend the economy like they do with trading when it looks shaky, until the virus blows over.

i.e. Everyone get a few months holiday at home funded by money printing to deliver food and drink, with free sky subs, domino pizza deliveries, and trays of beer all round. Staying in is the new going out. 

 

[spygirl]

33 minutes ago, BoSon said:

Nothing that wasn't going to collapse anyway.

The world's governments will ride to the rescue by way of money printing like dick terpin to prop up the zombiie economy while robbing future generations, as per usual.

Maybe the world will suspend the economy like they do with trading when it looks shaky, until the virus blows over.

i.e. Everyone get a few months holiday at home funded by money printing to deliver food and drink, with free sky subs, domino pizza deliveries, and trays of beer all round. Staying in is the new going out. 

 

Indeed.

QE andor ZIRP should have only been temporary, combined with severe rationing of credit.

What happened is they did not reverse it, all the financial players leveraged up like nuts and now CBs are stuck, waiting for stuff to get better.

But most Western economies are stuck with zombie companies, a static workforce where the younger, more productive cannot move due to housing costs.

 

[Bear Hug]

32 minutes ago, BoSon said:

Nothing that wasn't going to collapse anyway.

The world's governments will ride to the rescue by way of money printing like dick terpin to prop up the zombiie economy while robbing future generations, as per usual.

Maybe the world will suspend the economy like they do with trading when it looks shaky, until the virus blows over.

i.e. Everyone get a few months holiday at home funded by money printing to deliver food and drink, with free sky subs, domino pizza deliveries, and trays of beer all round. Staying in is the new going out. 

 

Japan and Hong Kong announced helicopter money already; Chinese markets have some other magic supporting them; so it's definitely happening

[leonardratso]

lets see how that tuens out eh...... hahaha as if.

[Bear Hug]

FT: Italy unveils €3.6bn stimulus to tackle coronavirus. Add to HK and SK announcements so far

[Calcutta]

No matter how the virus fares now it's out into the world, this will be the Chinese Communist party's Chernobyl moment. It's game over. My personal interest is in the big mining companies, BHP, Glencore etc. Afaics commodities are about to get hammered as China collapses. But coming out the other side as the ROW rebuilds there's got to be massive upsides. Or the third world goes back to riding around on donkeys and no matter how worthless my sipp is I'll still be able to buy a decent house in the sunshine for a few quid. Win win. 

[BoSon]

On 28/02/2020 at 14:43, BoSon said:

Buy shares in delivery services.  

Hope you got in before the surge. 

Quote

Ocado faces 'exceptionally high demand' as shoppers panic buy

https://www.bbc.co.uk/news/live/world-asia-51701043

 

First use of the term 'panic buy' relating to UK shoppers?

[Errol]

I'm presuming the cruise industry is dead. They seem to be running TV adverts at the moment but I can't see anyone in their right mind booking a cruise now or at any time in the next 3-6 months.

[gibbon]

Nightclubs and bars are fucked as these places will be ground zero for spreading the virus. The young are already a bunch of hypochondriacs who jump at their own shadow.

[Bear Hug]

BT is still falling and is a big loss for me.  

However, besides people depending on landlines to work from home when shit finally hits the fan, I though of another angle:

- if sports are forced into competing without spectators, behind locked doors, wouldn't demand for paying to watch sporting events on TV rise quite a lot?  Particularly if people start avoiding pubs too?

Who else trades publicly and provides this sort of service? 

[macca]

I think you are missing the bigger picture.. 

If we survive this then we might be rich..

They had to lock 60 million people in a city and weld apartment buildings shut, they had to stop people from leaving their homes and forcefully detain anyone found sick.. 

Can the UK, will the UK go that far to stop the spread..?

We are an island.. they cant/wont even stop planes with sick passengers landing at heathrow..  we should have 0 infections.. we are surrounded by water.. Russia is landlocked with china and is doing a better job than we are..