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Old 11th March 2020, 17:34     #161
crocos
 
Quote:
Originally Posted by Know me.
I dont think we are anywhere near the bottom yet so I'm not buying.
Observation from a FB share:

News that will cause stocks to go up:
- a minimum wage increase is struck down
- employees are prevented from unionizing
- corporate taxes are reduced
- labor laws are relaxed

News that will cause stocks to go down:
- the workers are sick and can't work

The stock market is not the economy, it's an estimate of how much wealth can be extracted from workers.
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Old 11th March 2020, 18:03     #162
Know me.
 
The NZ stock market has gone down but the workers are well and turning up to work.
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Old 12th March 2020, 11:00     #163
Ab
A mariachi ogre snorkel
 
Hot take from the Guardian

Quote:
If you are living in a coronavirus-affected region, and thinking of planning a sex party: don’t.
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Old 12th March 2020, 11:34     #164
Nich
 
You could get paid $1,100 to test the first potential coronavirus vaccine
https://www.businessinsider.in/scien...w/74559064.cms

It's official, the gig economy has reached its end game.
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Old 12th March 2020, 14:28     #165
fixed_truth
 
It's officially a pandemic now and countries are starting to lock down including the US.
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Old 12th March 2020, 15:04     #166
Nich
 
What made the world finally take the right course of action? Tom Hanks testing positive.

Quote:

Hello, folks. Rita and I are down here in Australia. We felt a bit tired, like we had colds, and some body aches. Rita had some chills that came and went. Slight fevers too. To play things right, as is needed in the world right now, we were tested for the Coronavirus, and were found to be positive.

Well, now. What to do next? The Medical Officials have protocols that must be followed. We Hanks’ will be tested, observed, and isolated for as long as public health and safety requires. Not much more to it than a one-day-at-a-time approach, no?

We’ll keep the world posted and updated.

Take care of yourselves!
Hanx!

Scum Mo, send 'em to Christmas Island!
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Old 12th March 2020, 15:28     #167
Lightspeed
 
Quote:
Originally Posted by Ab
If you are living in a coronavirus-affected region, and thinking of planning a sex party: don’t.
Well, there go my plans for the weekend. :/
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Old 12th March 2020, 16:03     #168
DrTiTus
HENCE WHY FOREVER ALONE
 
Life really is like a box of chocolates...
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Old 12th March 2020, 17:43     #169
crocos
 
Quote:
Originally Posted by DrTiTus
Life really is like a box of chocolates...
You never know when you're going to get a chocolate-dipped piece of rat?
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Old 12th March 2020, 18:07     #170
blynk
 
Quote:
Originally Posted by DrTiTus
Life really is like a box of chocolates...
I see what you did there.
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Old 12th March 2020, 21:27     #171
Ab
A mariachi ogre snorkel
 
A thought (not entirely original): American elections are run by old people. Polling booth staff, vote counters, monitors, judges. How many do you reckon will do the maths, get a non-zero answer, and stay home?
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Old 12th March 2020, 22:37     #172
Lightspeed
 
This is what I mean. As well as our election and the next Israeli election.

If the elections were happening right now, I think business as usual. But by the time these ones are happening we're going to have gone through months of nCoV19 and associated deaths in the news.
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Old 13th March 2020, 11:55     #173
pxpx
 
Artists impression of me catching a train to the voting station so I can vote "No" to the weed referendum
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Old 13th March 2020, 12:01     #174
Nich
 
Adjustment Reactions: The Teachable Moment in Crisis Communication
http://psandman.com/col/teachable.htm
Old article, but still applies.

Got it from Chris Martenson's daily update
https://www.youtube.com/watch?v=ogf6Hru2trE

Here's my trusted information sources:
CIDRAP - Novel Coronavirus (COVID-19) Resource Center
http://www.cidrap.umn.edu/covid-19
which i got from the JRE podcast:
http://podcasts.joerogan.net/podcasts/michael-osterholm

This week in Virology
http://www.microbe.tv/twiv/

Dr John Campbell:
https://www.youtube.com/watch?v=TV3h0XfVm0o

Sam Harris Podcast:
https://samharris.org/podcasts/190-respond-coronavirus/

and *cough* Zerohedge



It's already getting way to close to my family:
- My cousin is the doctor who took on Auckland's first case of COVID-19.
- I have another cousin who's daughter is in home isolation after a cheerleading squad mum tested positive after returning from US.
- Robyn's Dad is the project manager for the Baku F1 (neighbours with Iran), and is currently in Melbourne for the F1, which has been cancelled overnight.
- Yackandandah Folk Festival is next weekend (biggest town event of the year), and my Mum still has her ticket, and still intends to go...
- All the oldies in Yackandandah have been reporting feeling low on energy and lethargic since the bushfires... they will not cope well if the virus comes here.
- Hazel goes to daycare with another child whose father just returned from a work trip to Italy & France
- Oh and there is no toilet paper, eggs, or longlife milk in any local town. Infact visitors from Melbourne are stocking up on these items and taking them back to the city.

On the plus side:
- we have a deep pantry (probably 2 months worth of food)
- we have ways to nurse at home if we just get normal flu symptoms
- We have converted to a cash position instead of being in the markets (except Bitcoin, ouch)
- I take Vitamin D, Reishi, Cordyceps, He Shou Wu daily. Drink plenty of water, keep exercising
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Old 13th March 2020, 13:08     #175
blynk
 
I feel like I should be working out now how to invest in the Stock exchange. Especially overseas one.

Where do I start.
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Old 13th March 2020, 13:24     #176
Nich
 
1. you need an online stockbroker:
1a. If you only want to buy national stocks ASX / NZX you can use AUS:https://www.selfwealth.com.au/, NZ: https://www.asb.co.nz/asb-securities (NZ locals may know a better online broker)
1b. if you want to buy international stocks and NYSE, DOW. you can use: AUS: Commsec international trading account, NZ: ASB Securities? international trading account

2. You do NOT need a financial advisor who picks stocks for you. They have no skin in the game, and are not injured if they make bad stock picks. They injure you, and then say "Oh well, no one can predict the future!"

3. Once you've got the trading account setup, you can transfer money from your bank, then you set a buy order on any stock / ETF / LIC that takes your fancy.

4. profit.
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Old 13th March 2020, 13:27     #177
StN
I have detailed files
 
I managed to weather Dramfest last weekend (Only one drunken Trademe bidding double up - thank the maker the second Reel Mower didn't make Reserve!) but I'm not sure I'll get to Gin-dulgence in a couple of weeks. Although you'd think these gatherings would be self regulating.
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Old 13th March 2020, 13:45     #178
blynk
 
Quote:
Originally Posted by Nich
1. you need an online stockbroker:
1a. If you only want to buy national stocks ASX / NZX you can use AUS:https://www.selfwealth.com.au/, NZ: https://www.asb.co.nz/asb-securities (NZ locals may know a better online broker)
1b. if you want to buy international stocks and NYSE, DOW. you can use: AUS: Commsec international trading account, NZ: ASB Securities? international trading account

2. You do NOT need a financial advisor who picks stocks for you. They have no skin in the game, and are not injured if they make bad stock picks. They injure you, and then say "Oh well, no one can predict the future!"

3. Once you've got the trading account setup, you can transfer money from your bank, then you set a buy order on any stock / ETF / LIC that takes your fancy.

4. profit.
Thanks Nich.
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Old 13th March 2020, 13:47     #179
DrTiTus
HENCE WHY FOREVER ALONE
 
I use sharesies.nz - much easier/user friendly than ASB securities, but doesn't do all of the US companies - just ETFs for those.
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Old 13th March 2020, 14:59     #180
Nich
 
Also worth noting. We are in a market-wide asset liquidation. Everything must go, closing down sale! There is not enough cash to go around. Legislation is in place for banks to bail in unsecured deposits (ie your bank balance) to keep them in business.

Certainly would be legal in Australia (not sure about NZ). It would be prudent for individuals to keep some of their wealth outside the banks (ie cash under your mattress).
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Old 13th March 2020, 15:01     #181
Know me.
 
I made it to the gates of the Melbourne GP only to be turned away. Cancelled due to coronavirus concerns.

If you bank with ANZ or ASB, then use one of them to buy index based ETF on NZX or ASX. You should be able to buy anything that you need including international index based ETF.
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Old 13th March 2020, 16:10     #182
Nich
 
When the bank asks you why you want to withdraw so much cash, tell them to fuck off.

When the bank says they don't have that much cash at the branch, tell them you will go on to social media and announce the bank has no cash.

That should be all you need to withdraw your funds from the bank.

I repeat, the banks have bail in protections, and if ever there was a time for them to exercise their legal right to bail in, now is the time. This will be Cyprus bank on a global scale.

Last edited by Nich : 13th March 2020 at 16:13.
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Old 13th March 2020, 17:06     #183
Ab
A mariachi ogre snorkel
 
I’ve been moving money like a mofo for the past week. I no longer have an Australian bank account containing more than $30. All my “cash” is now either in my pocket or back in NZ, and I’m literally on hold right now to a safer superannuation fund to arrange moving my retirement savings.
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Old 13th March 2020, 17:12     #184
Cyberbob
 
Wonder how long this trend will last.

ASB Growth Fund

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Old 13th March 2020, 17:38     #185
Ab
A mariachi ogre snorkel
 
I couldn’t help but look. Ouch.
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Old 13th March 2020, 18:40     #186
Know me.
 
Too late to sell now, best to stay put especially if you are long term like retirement savings. Things will be back to where they were end of 2019 within a couple of years and youll miss all the upside.
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Old 13th March 2020, 19:06     #187
pxpx
 
Tbh a big drop like this is a boon for anyone under 40 earning good $ as far as Kiwisaver goes.
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Old 13th March 2020, 19:12     #188
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Know me.
Too late to sell now, best to stay put especially if you are long term like retirement savings. Things will be back to where they were end of 2019 within a couple of years and youll miss all the upside.
Yeah, I know. Stupid monkey brain is stupid though.
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Old 14th March 2020, 14:10     #189
Lightspeed
 
Bill Burr with a message in our time of need:

https://www.youtube.com/watch?v=Ea8iB7DT6Cg
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Old 14th March 2020, 14:21     #190
Lightspeed
 
This article appears sensible, with a clear goal in mind: ultimately halting human-to-human transmission, a la SARS.

Most have probably seen it, or parts of it, it resonated strongly with the international community.

The three phases of Covid-19 – and how we can make it manageable

Not as exciting as predicting the downfall of society I'm afraid.
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Old 14th March 2020, 17:50     #191
fixed_truth
 
Coronavirus: Everyone coming to New Zealand must isolate for 14 days, Prime Minister Ardern says
Hmmm. Is this just to put off tourists? Also I wonder how they'll enforce this.
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Old 14th March 2020, 20:15     #192
Lightspeed
 
It doesn't really matter. As long as more people isolate themselves than would otherwise, this will slow the spread of the virus. It also gives justification to employees who have recently travelled not to attend work.
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Old 14th March 2020, 21:34     #193
crocos
 
Putting off visitors is just a bonus! /sad
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Old 14th March 2020, 21:39     #194
Lightspeed
 
facepalm

All the investment in tourism finally paying off.

I suppose it's not like our tourism industry isn't inherently irresponsible anyway.
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Old 14th March 2020, 21:53     #195
Nich
 
everyone will have their own definition of self isolating, and if you go down the list of recommended self-isolating steps, i guarantee you'll get people who think some recommendations are a bit extreme. They will trust their own flawed understanding of virus spread rather than the government guidelines. Some steps will be skipped.

- Lots of people will think that if a large event is going ahead, it is therefore safe and free of coronavirus.
- People will think that if a plane is still flying, the risk of coronavirus is not as high as the flights that were cancelled.
- Lots of people think the virus cannot be spread if they walk / ride a bike outdoors.
- Lots of people in my regional Vic area think it will never come here (opera in the Alps is going ahead tonight.)
- Lots of people will think hand shaking is harmless, and its an impossible habit to break.

Governments have spent decades coaching their populations to outsource their cognition. Now those sheep will continue their lifestyle thinking if their lifestyle is hazardous then a personal government intervention will swoop in to warn them to course correct. The intervention will never come.

Scott Morrison had his chance to tell people to snap out of the spell, and he said "We're doing a great job, Australia. Here's some money no strings attached, go buy some shit." No one in Melbourne is wearing a mask.
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Old 15th March 2020, 04:27     #196
DrTiTus
HENCE WHY FOREVER ALONE
 
Cunning

Anyone would think it's like AIDS, and not the common cold.

Gotta love election years.
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Old 15th March 2020, 10:38     #197
Nich
 
This guy has his own idea of quarantine. Walks out, goes shopping, uses public transport.
https://news.yahoo.com/coronavirus-m...183617684.html

Short of welding people into their homes, I think a lot of dummies will reason with themself that its safe to go out into the public.
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Old 15th March 2020, 13:20     #198
Nich
 
Lines down the street at gun shops
https://twitter.com/cjjohnsonjr/stat...68541689880576

US Civil war 2.0 in 3...2...1...
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Old 15th March 2020, 13:41     #199
Nich
 
Federal Reserve just minted $1 trillion dollars over 2 days into the repo market. Toilet paper sheets are now literally worth more than $1 USD. ironic.
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Old 15th March 2020, 15:08     #200
Know me.
 
Quote:
Originally Posted by Nich
Federal Reserve just minted $1 trillion dollars over 2 days into the repo market. Toilet paper sheets are now literally worth more than $1 USD. ironic.
NZD vs USD 0.61 and still going down. Maybe we can swap some milk powder for some toilet paper?
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