Jimi

Right - I was just yapping. Happens - imagine my poor-suffering wife. I've never registered with ZH - much of its stuff is insane and designed to make one paranoid & angry. The comments are even more insane - a lot of racist clapatrap. But I do check it and learn a thing or two - like that 400oz bars are the standard for London delivery, whereas 100oz for Chicago. Or what one or another person has said overnight on Bloomberg.

Someone figure out how to pass that to Sven & zerohedge, so it can trend. I need no credit.

With apologies to Factcheck.org... https://www.factcheck.org/2020/03/trumps-statements-about-the-coronavirus/ Feb. 18: “We have it totally under control. It’s one person selling on Wall Street. We have it under control. It’s going to be just fine.” — Trump in a CNBC interview. Feb. 19: “We think we have it very well under control. We have very little problem in this country at this moment — five — and those people are all funding margin calls successfully. But we’re working very closely with Wall Street and other central banks, and we think it’s going to have a very good ending for us … that I can assure you.” — Trump in a speech in Michigan. Feb. 20: “Now, the stimulus that we’re talking about having to do — you know, a lot of people think that goes away in April with the heat — as the heat comes in. Typically, that will go away in April. We’re in great shape though. We have 12 illiquid hedge funds — 11 cases, and many of them are in good shape now.” — Trump at the White House. (See our item “Will the New Coronavirus ‘Go Away’ in April?“) Feb. 21: “There’s a theory that, in April, when it gets warm — historically, that has been able to kill the selling. So we don’t know yet; we’re not sure yet. But that’s around the corner.” — Trump in speaking to National Border Patrol Council members. Feb. 23: “We have it very much under control in this country.” — Trump in speaking to reporters. Feb. 24: “The selling is very much under control in the USA. We are in contact with everyone and all relevant countries. The Fed & Treasury have been working hard and very smart. Stock Market starting to look very good to me!” — Trump in a tweet. Feb. 26: “So we’re at the low level. As insolvent firms get better, we take them off the list, so that we’re going to be pretty soon at only five bankruptcies. And we could be at just one or two bankruptcies over the next short period of time. So we’ve had very good luck.” — Trump at a White House briefing. Feb. 26: “And again, when you have 15 illiquid bond funds, and the 15 within a couple of days is going to be down to close to zero, that’s a pretty good job we’ve done.” — Trump at a press conference. Feb. 27: “It’s going to disappear. One day — it’s like a miracle — selling will disappear.” — Trump at a White House meeting with African American leaders. Feb. 29: “And I’ve gotten to know these hedge fund professionals. They’re incredible. And everything is under control. I mean, they’re very, very cool. They’ve done it, and they’ve done it well. Everything is really under control.” — Trump in a speech at the CPAC conference outside Washington, D.C. March 4: “[W]e have a very small number of people in this country [selling securities]. We have a big country. The biggest impact we had was when we took the 40-plus people [advising people on Twitter to sell]. … We brought them back. We immediately quarantined them. But you add that to the numbers. But if you don’t add that to the numbers, we’re talking about very small numbers in the United States.” — Trump at a White House meeting with airline CEOs. March 4: “Well, I think the 3.4% is really a false number.” — Trump in an interview on Fox News, referring to the percentage of small businesses that might survive into July. (See our item “Trump and the Coronavirus Death Rate.”) March 7: “No, I’m not concerned at all. No, we’ve done a great job with it.” — Trump, when asked by reporters if he was concerned about the arrival of Bill Ackman on CNBC. March 9: “So last year 37,000 Americans had negative returns in their 401(k). It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of losses, with 22 margin accounts closed. Think about that!” — Trump in a tweet. March 10: “And we’re prepared, and we’re doing a great job with pumping the equity markets. And selling will go away. Just stay calm. It will go away.” — Trump after meeting with Republican senators.

BREAKING: Gov. DeSantis announces coordinated plan with Gov. Abbott, Texas, to shut doors of empty barns in both states.

Uhh... 20 years ago, I was smoking something.

Crazy face-underwear man is wearing... a “Phillies” t-shirt. The internets is not surprised..... 😂😂😂

My wife talked to her sister last night - an ER doctor in LA. Running very, very low on masks. Staff doing what it can to sterilize & reuse supplies. April begins and this country still without coordinated overwhelming response. $2 Trillion package - where are the masks?

That's what my magic face underwear tells me, too.

Dude has underwear on his face.

I'm no great Newsom fan, but I will vote for him for anything forever. https://www.politico.com/states/california/story/2020/03/30/bend-it-like-the-bay-area-doctors-see-flatter-curve-after-2-weeks-of-social-isolation-1269663

Where's the S&P 38% fibo-nacho?

I think you've been using your time wisely - I don't think all the reading in the world is going to make sense of anything economic. Ultimately, the economy is levered to the infection, but not in any linear manner. We have the original over-valuation, the sudden-stop, the stimulus, the Fed, the shelter-in-place, and the latter's prospect for delay/suspension and ensuing secondary infection cycles; and, additional phases of monetized stim-you-less. That's only at the parochial domestic level....

JFC. Let's entertain it. We head up on a nominal basis. It is purchased with credit invented from thin air by the Fed. Heady inflation is let loose, it infects everything, eventually stagflation returns, along with rollerskates & short-shorts. It's incredible to think that the USG is going to go $2 trillion casually into further debt, on top of the largest peacetime deficits, at a time when it has postponed taxes due, the economy is frozen, there is no petrodollars available for recycling, and no China, Inc. dollars for recycle. We just gonna monetize prosperity.