Hey, why not?
h/t rd, who adds;
Markets really hate uncertainty, and this Coronavirus is the motherblinker of all uncertainties. Expect the stock market to get hammered, and people to move into bonds, driving down yields even more.
Just wait until Coronavirus comes to your town, and everyone stays home in quarantine. Watch the restaurant, fast food, and service businesses all close for a few weeks. No one will be collecting a paycheck, and lots of owners are just going to be desperate to stay afloat. It will be a huge sh–show.
Don’t believe me, look at Italy.
Plus, this.
Saudi had led the charge to cut production. But this time, Russia wasn’t having it. And now the Saudis have announced big discounts on their crude, particularly the stuff they sell to the US. It’s essentially a declaration of war on US producers. Expect gas prices to plummet
— Gregory Brew (@gbrew24) March 8, 2020
Morning update: Markets opened down 7% and hit the circuit breakers immediately. TSX down 1800 pts at opening.
TSX drops another 200 points when trading resumes after automatic 15-minute shutdown. Losses top 1,600 since opening bell (9.7%).
— CBC News Alerts (@CBCAlerts) March 9, 2020
The Coronavirus is going to kill lots of things besides lots of the infirm and elderly people. Lots of businesses and even governments may fail. How many current governments are sclerotic gerontocracies? Hopefully the Chinese Communist Party, the North Korean Kim Dynasty, and the Iranian Ayatollahs will be amongst the casualties. That would almost make the coming death and destruction worth it.
This will be creative destruction in action. Fortunes to be made, and fortunes to be lost. Twelve months from now, everything will be almost back to the new normal.
Related
COVID 19 claims 4 term Islamic Coalition Iranian MP https://ifpnews.com/newly-elected-female-politician-dies-of-coronavirus-in-iran
Iran may lose some of their Ayatollahs to the virus, the low oil price will tank the economy even more that it already is, which may be the final nail. Here’s hoping the virus is loose in the Republican Guard barracks.
This was the idea.
I agree with that Tara…I have since day 1.
That Chinese Research “bat” & her husband working in our Level 4 lab in the Peg last summer getting caught doing “NO ONE FKN Knows” but kicked out regardless. …. or were they sent home with mission Completed..??
6 months later we get COVID-19 from the only city in China with a level 4 lab….and all along Trudeau keeps our borders WIDE open on all ends.
I do not believe in Coincidences
That, I agree with.
And you can bet the professional investors will be bargain hunting with aplomb; because they absolutely love it when the market goes full on FLAMING FIRE SALE.
So dial up the hysteria, the very world is ending…properly apocalyptic I tells ya!
Its like Walmart blowing out stuff at close to cost…
What’s that they always say: “Never let a good crisis go to waste!”
Cheers
Hans Rupprecht – Commander in Chief
Army Group “True North”
1st Saint Nicolaas Army
Oil prices will plummet.
Fuel prices in Canada will skyrocket.
Funny how our price at the pump has so much tax included,that we get an inverse law effect.
The other moronic part of this,precious metals,gold,platinum, I forget.. are present in the Sands of Athabasca,in sufficent quantities to be profitable.
Saw a report on this years ago.
The problem is regulation.
Even though the Oil companies are already handling the sand as they clean the oil out of it,as soon as they process any metals,they are mining,subject to entirely different water licenses,permits and regulatory chaos.
While it would seem a no-brainer to take every return we could get out of the mining process,in Canada that is impossible and will remain impossible,short of Independence.
It boggles the mind,the ice sheet did a great job,grinding the rocks to sand,taking the top off off the oil deposit and mixing it all into a “tarry goo”.
But to take advantage of such a massive gift is forbidden by our endless rules and regulations.
There is no room for innovation in this kleptocracy.
Imagine a country where you could take advantage of natural resources,mining oil and metals in the same process,thus cutting your costs and hedging against market fluctuations.
If you have any experience of hard rock mining,the energy costs of breaking the rock down to the point of extraction of the pay load,is huge.
In the Oil Sands,nature has already done it for us.
Oh well we shall enjoy this collapse too.
What else can we do, in can Ahh Duh?
Dumb post of the day … the McMurray Fm is Cretacous http://www.ramp-alberta.org/river/geography/geological+prehistory/mesozoic.aspx & so was deposited many tens of millions of years before the
Quaternary and the beginning of the ice ages.
Re the mining aspect, I think that is hooey too. As is the comment on taxes in gasoline https://en.wikipedia.org/wiki/Motor_fuel_taxes_in_Canada ….. however the table appears to need updating .
Bookings are up at the resort I work for. Canadian companies deciding that spring on Vancouver Island is better than risking a FEMA stay down south for their getaways.
Our grandparents and great grandparents recovered from WW1 and the Spanish Flu, and we went on to the roaring twenties.
And they did it without antibiotics and many vaccines.
I remember asking my mum what life was like when polio broke out in her town. She paused, and said “Terror. Parents kept us kids out of school. But then the outbreak died off and life returned to normal.”
We will survive this epidemic too.
But maybe in the process we’ll learn not to worry about how many genders there are.
How much credit does Silent Cal get for the roaring 20s? Will a similar stand-off government be available for long enough, or will The Swamp be singing “I’m still standing!” after Trump’s second term?
“Our grandparents and great grandparents recovered from WW1 and the Spanish Flu, and we went on to the roaring twenties.
And they did it without antibiotics and many vaccines.”
They also did it without any jet airliners and few automobiles. Most of them were raised and died within the a 50 mile radius of where they were born and, get this, they were of 99% white European stock with it’s high standards of cleanliness and hygiene.
My mother, who was born in 1922, was a registered nurse who nursed through the polio and scarlet fever epidemics in Canada.
Her father was an undertaker. Dad’s father was a teamster, literally. He drove a team of horses.
The ability to spread infectious diseases was not then what it is now.
My mother remembered the Spanish Flu. The family self-quarantined on the farm. Grandad was the one who went into town for supplies, and he slept in the barn, not going near his family until the threat was passed.
I guess the upside is that the Canadian Blends only dropped 12% on average:
Canadian Blends Last Change % Change Last Updated
Central Alberta 31.78 -4.62 -12.69% (3 Hours Delay)
Light Sour Blend 35.53 -4.62 -11.51% (3 Hours Delay)
Peace Sour 31.28 -4.62 -12.87% (3 Hours Delay)
Syncrude Sweet Premium 40.28 -4.62 -10.29% (3 Hours Delay)
Sweet Crude 37.03 -4.62 -11.09% (3 Hours Delay)
US High Sweet Clearbrook 40.03 -4.62 -10.35% (3 Hours Delay)
Midale 31.78 -4.62 -12.69% (3 Hours Delay)
Albian Heavy Synthetic 40.03 -4.62 -10.35% (3 Hours Delay)
Haven’t we seen this (OPEC / Saudis trying to knee-cap US oil production) before? And how did that work out? Record US oil production. And again the Saudis want to bankrupt a large number of debt-ridden US producers. They will go bankrupt and the larger companies will buy their assets and as the price of oil rises so too will US oil production. And what was accomplished?
That’s awesome!!
Meanwhile back in Ottawa, Blackie will have a constructive fire side chat with feminist enterpreneurs…
Prime Minister’s itinerary for Monday, March 9, 2020
March 8, 2020
Ottawa, Ontario
Note: All times local
Toronto, Ontario
9:45 a.m. The Prime Minister will participate in an armchair discussion with representatives of SheEO ventures. Minister of Small Business, Export Promotion and International Trade Mary Ng will be in attendance.
Liberty Grand Entertainment Complex
25 British Columbia Road, Exhibition Place
Notes for media:
Open coverage
Media must arrive no later than 8:15 a.m. at the South entrance
Media should use Parking Lot 5, East Side
11:15 a.m. The Prime Minister will participate in a roundtable with representatives of SheEO ventures. Minister of Small Business, Export Promotion and International Trade Mary Ng will be in attendance.
Liberty Grand Entertainment Complex
25 British Columbia Road, Exhibition Place
Note for media:
Open coverage for remarks
I’m not panicking. I’m outraged that someone would do this just to be rid of Donald Trump.
Stunned too, that they would commit an act of self-harm this savage to do it. This is the greatest blunder the Chinese leadership have committed since the Great Leap Forward.
If you’re a working-age American, and you are not in the business of exporting jobs to China or representing globalist scum in court or in Congress, all you have to look forward to is cheap loans, cheap gas and manufacturing jobs returning to your town as Chinese suppliers shut up shop, never to re-open.
The dragon is turning its firey breath on its self, roasting itself alive, and taking Islam and (God willing) finance globalism with it. And Americans did not have to fire a shot.
Markets are open now, it’s a bloodbath. American indexes – DJIA, NASDAQ, S&P – down an average of 7%. The TSX is down 9%. Enbridge is down 16% out of the gate.
Good time to buy.
That’s what I’m thinking. Buy more of stuff people need. I’ll wait a couple of sessions to see if bottom is reached or what I bought before drops to a better level to step in. The world didn’t end in 2008 either. Still need power and heat until nuclear becomes really viable. The End of the World(tm) crowd can go slit their bellies for all I care. In fact I wish they’d just get on with it and die. They still haven’t invented an electronic arse wipe yet and even so, we’ll still need electric power if they do. Probably more.
I go with “all things come to those who wait”.
I hate this haircut. Where can I find a better barber?
Panic panic panic Buy buy buy.
Morons losing their minds over a flu.
You people are worse then the warmist doomers .
It’s just a bad flu hyped up by the media to be 100 times worse than it is.
US is now saying that including mild cases death rate is somewhere between 0.1 and 1 percent. Death rate for regular flu is 0.1 percent
Number of cases in US: 605
Number of recoveries: 8
Dot he world a favor and remove asbestos without a face mask, you will probably be fine. Go on don;t believe all the hype.
I’m sure our little potato PM has a planny plan, a cunning Baldrick plan.
And it will be as follows:
1. Blame Harper
2. Keep kissing up to China
3. Import even more Mohammedans
4. Blame us for being racists
5. “Don’t wowwy, Quebec, Albewta wiww keep paying youw equawizathion paymentth…. becauthe it hath too much money.”
6. Take another “personal day” in Tofino when the proverbial hits the fan.
Any thing to add to that list?
Hey BA, where do I buy a lispthin dikshonary like yours???
I don’t know where I got this linguistic ability(?). Maybe I watched too many movies.
Baldrick…. Yeah, the name suits Prinz Dummkopf, doesn’t it?
Show me the casualties. Show me the bodies. Fake virus. Fake hysteria. Fake news.
Some of them survived — most. My grandmother and an uncle died of the Spanish flu.
It was devastating for some families. My dad did not have a mom growing up and he never really got over it. Fortunately, the current virus seems to be targeting an older demographic, but I think everyone will experience the economic impact.
Meanwhile Blackie is attending feminist meetings in Toronto and Ottawa today.
At least we know what his priorities are. Meanwhile, the dollar’s dropped another cent against the greenback, the stock market’s being sold off, and the price of oil has dropped.
So why do I not feel like rejoicing at the “love and guidance” offered by the Dear Leader, to paraphrase a Radio Pyongyang broadcast I once heard?
It looks like an investor’s trifecta. You had a bull market long in the tooth looking for a catalyst for a correction. Add to that the pandemic. And then on top, the Russians screwing the Saudis over in an attempt to damage the US shale producers, many of whom in the Permian are already on the verge of bankruptcy (eg, Chesapeake). Watch that falling knife and don’t be too hasty in trying to play the rebound.
Rex Murphy has a new story on this subject at the National Post website.
Saturday, we went to our favorite Indian restaurant (near Portland, Oregon).
Oregon had about 6 confirmed cases at that time.
Normally, at 8pm on Saturday night there would be a longish wait for a table.
There were two tables occupied when we got there, and two occupied when we left.
The staff told us it had been like that all night.
Maxime Bernier
@MaximeBernier
Stock markets are crashing around the world because of bad monetary and fiscal policies to artificially stimulate the economy. We cannot spend our way to prosperity.
Video
https://mobile.twitter.com/MaximeBernier/status/1237124415965585408
Maxime Bernier
@MaximeBernier
Hypocrite. Last fall you and your spineless leader did not have the courage to propose any spending cuts and ran on HAVING DEFICITS FOR FIVE MORE YEARS instead of two as promised before.
Things would have been exactly the same with blue LibCons in government.
Pierre Poilievre
@PierrePoilievre
“‘They squandered the good times’: Poilievre says Canada lacks ‘cushion’ to weather economic crises”
https://www.cbc.ca/amp/1.5490475?__twitter_impression=true
I have the impression that the left is driving this hysteria for two reasons — closing down the economy was what they were always trying to do anyway, and it could turn into a problem for Trump’s re-election. I don’t know if they have a master plan to make that a reality or they are just hoping.
So long as this medical situation is mostly a parallel flu taking out mostly those at high risk anyway, I think a lot of the international hype may be overblown just as the reaction to a slight warming of the earth is an over-reaction.
Open to alternative interpretations, but didn’t we go through something similar with sars and bird flu? If you’re 90 and in a care home, is a quick and painless death really that terrible an outcome? Ask me again in 20 years. If I get so lucky.