US unemployment rate soars to 14.7 percent as economy loses 20.5 million jobs

[Team Blue]

It suuuuuucks. I'm one of the few people in my family with steady income. Trying to help keep people afloat until this is over with.

 

[Yongpeng Sun-Tastaufen]

It suuuuuucks. I'm one of the few people in my family with steady income. Trying to help keep people afloat until this is over with.

The stock market is up a lot though. DOW is exploding through the roof. Making hella money!

 

[Team Blue]

That's nice and all but it doesn't pay my sister's rent

 

[PakFactor]

That's nice and all but it doesn't pay my sister's rent

Hopefully, you and family get this through this this tough times. If you don’t mind me asking what state and work you do?

The stock market is up a lot though. DOW is exploding through the roof. Making hella money!

It’s detached from reality.

Right now I am 2k in hole. I thought market will go up after partial Opening of cities. Sh!t went down soon after.

trust me that’s still better than a friend I have for example in Abbvie down approx $150K.

 

[DJ_Viper]

The stock market is up a lot though. DOW is exploding through the roof. Making hella money!

It's starting to slow down a bit. A small correction may be incoming. We now need to focus on using the $$ provided by the fed to the businesses and create serious employment.

Recovery should start full swing from Q3 on. Hopefully, various options to heavily reduce, or kill this germ and many others, including a vaccine will come through soon too.

 

[Yongpeng Sun-Tastaufen]

It's starting to slow down a bit. A small correction may be incoming. We now need to focus on using the $$ provided by the fed to the businesses and create serious employment.

Recovery should start full swing from Q3 on. Hopefully, various options to heavily reduce, or kill this germ and many others, including a vaccine will come through soon too.

Stock traders love the crisis. They sell high buy low. That's how they make money off the little guys.

 

[DJ_Viper]

It’s detached from reality.

trust me that’s still better than a friend I have for example in Abbvie down approx $150K.

It's not detached, its working the way the system was designed. Many think the stock market is "the economy". There is a LOT more out there within just the derivatives markets than just the stock market. Someone recently said (I think he was a billionaire), that our system was designed in a way that 90% people can't understand it. I think that statement was true.

ABBV is back to January prices, why is your friend still in a loss?

Stock traders love the crisis. They sell high buy low. That's how they make money off the little guys.

My post wasn't about the stock traders. But even if one wasn't a trader, just common sense would tell me to buy low and sell high and make a profit right? Otherwise no use in investing my $$?

 

[PakFactor]

It's not detached, its working the way the system was designed. Many think the stock market is "the economy". There is a LOT more out there within just the derivatives markets than just the stock market. Someone recently said (I think he was a billionaire), that our system was designed in a way that 90% people can't understand it. I think that statement was true.

ABBV is back to January prices, why is your friend still in a loss?



My post wasn't about the stock traders. But even if one wasn't a trader, just common sense would tell me to buy low and sell high and make a profit right? Otherwise no use in investing my $$?

He works for Abbvie, meant to say overall his 401k.

I trade on a daily basis besides my main business last 15 years what these billionaires say is good and all, but it depends who you are talking about in terms of investing majority of Americans aren’t even invested in the market. Top 10% of people have invested in 90% of the market, hence why he said the rest 90% don’t understand and truly they don’t matter as their insects compared to other players.

It’s not as simple as buying low and selling high, when you dissect the market this run up was supported by 5-10 tech companies and as I posted in another thread 50% of SP500 is weighted in three sectors Information Technology, Health Care and Communication Services holding the market up while rest of the sectors are down 30-40% on average.

 

[Yaseen1]

u.s end seems near

 

[KAL-EL]

u.s end seems near

If I had a dollar for every time...

 

[DJ_Viper]

He works for Abbvie, meant to say overall his 401k.

I trade on a daily basis besides my main business last 15 years what these billionaires say is good and all, but it depends who you are talking about in terms of investing majority of Americans aren’t even invested in the market. Top 10% of people have invested in 90% of the market, hence why he said the rest 90% don’t understand and truly they don’t matter as their insects compared to other players.

It’s not as simple as buying low and selling high, when you dissect the market this run up was supported by 5-10 tech companies and as I posted in another thread 50% of SP500 is weighted in three sectors Information Technology, Health Care and Communication Services holding the market up while rest of the sectors are down 30-40% on average.

Over 250 Million Americans work. I think its fair to say 80% of this labor force has retirement plans and those are managed by large investment firms for them. So I don't think its appropriate to suggest that "Americans don't know the stock market, or, are not invested in it". This nation runs on a financial system since Penn Railroad's times and all these well over hundred years, the market has produced results for everyone. You could say that not everyone is optimizing investments due to various reasons, but coloring an entire nation that has always thrived on its economic base and market, isn't fair. Just my two cents.

I don't want to share my persona details on here, but I've been involved with the market and various other things for the past 25 years. The basic rule to getting a house, car, or any investments for profit is the same. Buy low and sell high. It has nothing to do with 5 or 10 companies that dominate the market as that's always the case. I can list Chinese giants, Japanese dominant companies, Indian to German and more. And just so you know, S&P is a "tiny" fraction of what we call the "market"....

u.s end seems near

riiiiiiigggght! Do you have a date? It's funny how people not knowing 20% of the subject, come here, write, and then people like you make "educated calculations". It's funny.

 

[Hamartia Antidote]

in terms of investing majority of Americans aren’t even invested in the market.

52% are. It used to be 62% before 2008.

the rest 90% don’t understand and truly they don’t matter as their insects compared to other players.

That's why people have managed accounts or ETFs

 

[ZeEa5KPul]

u.s end seems near

It really does seem that way. I used to think that as China rose and the unipolar moment ended the world would bifurcate into two spheres and remain like that for the foreseeable future. Now I think we're heading for another unipolar moment.

If I had a dollar for every time...

It's like the boy who cried wolf, isn't it. Do you remember how that story ended?

 

[Hamartia Antidote]

It really does seem that way. I used to think that as China rose and the unipolar moment ended the world would bifurcate into two spheres and remain like that for the foreseeable future. Now I think we're heading for another unipolar moment.

It's like the boy who cried wolf, isn't it. Do you remember how that story ended?

Yeah the kid got eaten by the Wolf and everybody else was fine.

Let's hope it ends the same way.

 

[ZeEa5KPul]

Yeah the kid got eaten by the Wolf and everybody else was fine.

https://en.wikipedia.org/wiki/The_Boy_Who_Cried_Wolf

the villagers believe that it is another false alarm and the sheep are eaten by the wolf.

The village's livelihood gone. Everybody else was most certainly not fine.

Let's hope it ends the same way.

I sure do.