Here Comes the Recession

#457
#457
37L1 said:
Wonder what altitude that broom can reach?
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Hard to say, but if she really wants to zoom she should try out Pelosi's broom. I was thinking more about the air in her head and what must be drugs in her system. The girl's a little bit cute ... has some attributes, can be fun to watch, always good for a laugh, but nutty as they come.
 
#458
#458
carlos86 said:
The Airlines have been making record profits the last few years. Maybe they should have saved that money for tough times instead of giving board members multimillion dollar bonuses.
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They didn't give all the record profits to executives - executive pay is a like a grain of sand on the beach relative to the size of the profits. What they did do is use a lot of it to buy back stock, which of course helps the stock go higher, and an executive's total pay is based in large part on how well the stock does.

Corporate executives are always doomed from a PR perspective. If they get paid well while the company does poorly, it looks bad and their investors and the general public get upset. To address that, corporate boards increasingly tied exec pay to how well the stock performs. It aligns incentives - both investors and management want the stock to go up, and execs don't get paid well unless the stock goes up. Now people are pissed because that's one of the factors that has helped the average CEO-to-worker pay ratio go from something like 20:1 to 200:1.
 
#461
#461
Don't get me started on "shovel ready projects" I watched a $1 million project get rejected locally for being stupid to becoming a fully funded "shovel ready" federal project that costs $6 million. How come it cost 6 times as much? And why did the gubment spend a fortune to build a bridge across a road that no one uses?
 
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#462
#462
05_never_again said:
They didn't give all the record profits to executives - executive pay is a like a grain of sand on the beach relative to the size of the profits. What they did do is use a lot of it to buy back stock, which of course helps the stock go higher, and an executive's total pay is based in large part on how well the stock does.

Corporate executives are always doomed from a PR perspective. If they get paid well while the company does poorly, it looks bad and their investors and the general public get upset. To address that, corporate boards increasingly tied exec pay to how well the stock performs. It aligns incentives - both investors and management want the stock to go up, and execs don't get paid well unless the stock goes up. Now people are pissed because that's one of the factors that has helped the average CEO-to-worker pay ratio go from something like 20:1 to 200:1.
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Yeah, those salaries as bad as they look are a drop in the bucket. However, there is a real and generally overlooked component. CEOs have a real incentive to go overboard on short term profits because they generally have a lot of stock and bonuses to go with the position. Short term profits aren't necessarily and often are definitely not the best for the company. When you include a big severance package in the deal, CEOs are basically given a license to steal ... plunder the company for short term gain, drive it into the ground, and walk away rich with more riches coming in. Think of a Butch Jones situation on steroids.
 
#463
#463
VolStrom said:
Don't get me started on "shovel ready projects" I watched a $1 million project get rejected locally for being stupid to becoming a fully funded "shovel ready" federal project that costs $6 million. How come it cost 6 times as much? And why did the gubment spend a fortune to build a bridge across a road that no one uses?
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To promote equality obviously. You just aren't looking at this right.
 
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#469
#469
carlos86 said:
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You were just giggling as you posted that weren’t you.

I also read about three separate articles today which stated that the expectation is this will be steep but sharp, the market will enter bear territory, however on the year we will have positive GDP and avoid recession and the market will rebound quickly. Time will tell whom is right.
 
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#470
#470
Trump prime time speech reaction?

DJIA futures -1,200

Dumb Donald universally panned. Blaming Europe and shutting down travel AFTER the horse is already out of the barn? And, oh btw, travel to Great Britain is exempt. Further, it will include exceptions for Americans who have received “appropriate screenings.”

How does that make any sense? Politics.

Typical. Trump. Dumbass.

The only thing he's "good at" is politics and bankrupting his companies.

Our "President" has done everything he can to this point to minimize and obfuscate reality. Now we face contagion.

Wall Street is gonna punish Donald and his lame leadership today.
 
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#471
#471
MontyPython said:
Trump prime time speech reaction?

DJIA futures -1,200

Dumb Donald universally panned. Blaming Europe and shutting down travel AFTER the horse is already out of the barn? And, oh btw, travel to Great Britain is exempt. Further, it will include exceptions for Americans who have received “appropriate screenings.”

How does that make any sense? Politics.

Typical. Trump. Dumbass.

The only thing he's "good at" is politics and bankrupting his companies.

Our "President" has done everything he can to this point to minimize and obfuscate reality. Now we face contagion.

Wall Street is gonna punish Donald and his lame leadership today.
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You’re a fool and you’re hoping you’re right because orange man bad.

How does it feel be so full of hate you want the whole country to fail just so you can dunk on Trump?
 
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#472
#472
ajvol01 said:
You’re a fool and you’re hoping you’re right because orange man bad.

How does it feel be so full of hate you want the whole country to fail just so you can dunk on Trump?
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Exactly what I’ve wondered! Some people want America to collapse simply because they think the President is a meanie and idiot. I don’t care who is in office, in a time like this, I want America to come out strong or we are all going to feel the negative effects.
 
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#473
#473
ajvol01 said:
You’re a fool and you’re hoping you’re right because orange man bad.

How does it feel be so full of hate you want the whole country to fail just so you can dunk on Trump?
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Pure rhetoric on your part, much like Trump. By your logic the markets are "fools" too.

Wake up and smell the coffee man.
 
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#474
#474
MontyPython said:
Pure rhetoric on your part, much like Trump. By your logic the markets are "fools" too.

Wake up and smell the coffee man.
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The market downturn has been driven almost entirely by media coverage.

There is no real economic issue driving the markets - it’s selling based on fear alone.

No dot com bubble, housing bubble, big bank failures, auto maker bankruptcy, etc

The left is blaming Trump for a reaction to a virus. Think about that. It is utterly ridiculous
 
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#475
#475
ajvol01 said:
The market downturn has been driven almost entirely by media coverage.

There is no real economic issue driving the markets - it’s selling based on fear alone.

No dot com bubble, housing bubble, big bank failures, auto maker bankruptcy, etc

The left is blaming Trump for a reaction to a virus. Think about that. It is utterly ridiculous
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FFS please read/watch something other Foxnews.

This does a good job of summarizing why Wall Street is selling off today. Not exactly a bastion of left-wing Trump bashers.

"US stock futures plummeted Thursday after President Donald Trump used a national address on the coronavirus to announce a ban on most travel from Europe, but failed to deliver the comprehensive economic and medical response to the outbreak that investors are craving."

"Investors are struggling to see the endgame and "traders are hammering the sell button now thinking the US government has fallen well behind the curve in its [coronavirus] response," said Stephen Innes, a market strategist at AxiCorp."
 
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