OT - Dow plunges 1,175 - worst point decline in history

[ChainNoise]

My wife and I are well under the 150k limit, and we have one child. I'll be stashing that $2900 away just in case I can't continue to work.

I'm in a very iffy situation right now with jobs; I accepted a position at a new company 2 Mondays ago. I left my job at the end of my shift yesterday as I fulfilled my 2 weeks notice. I don't start the new job until this coming Monday. I've been in contact with them and they are doing business as usual. All of this happened just before the covid-19 started to really gain steam in the tristate. I am still on my toes regardless of what happens. I really hope I don't get laid off!

[Ozz]

Originally Posted by JAGI410

This is a stimulus check for it to be reinvested in the community. So that's what we'll do. Support the small businesses (assuming they are still there in May when the check arrives) and spend it all!

+1

The point of the checks is the help people meet expenses (rent, food, etc) due to loss of income. The spending is the "stimulus" part in the description.

If you get one, spend it.....if you don't need it, spend it or donate it anyway.

They are being issued to help people and to help keep the economy from sinking.

[HenryA]

A doctor once told me that the two most vital functions for the support of life was for the air to go in and out and the blood to go round and round.

Money is like that now. Spend your check on things you or someone else NEEDS and you help keep it going round and round.

[bigbill]

I'm not getting a check because I'm single with no dependents but I'm going to donate $1200 to the local Boys and Girls Club who are helping parents who still work while school is closed.

My job is secure. I'm in the building supply industry and we are a vital industry. We spend our days re-engineering production for social distancing of workers and a roving team of cleaners who constantly wipe down surfaces.

[Tony T]

Originally Posted by Tony T

"On the day Trump was elected the Dow closed at 18,333"

Originally Posted by Tony T

DOW Intraday low of 18,214 today.

Interesting..., that was the point (2 days ago) that the Market bounced, and the DOW is now up 3,500 points (20%) from that low.

[echappist]

Originally Posted by Tony T

Interesting..., that was the point (2 days ago) that the Market bounced, and the DOW is now up 3,500 points (20%) from that low.

Much of that is attributable to movement of Boeing stock per se

Boeing increased by 60%; Dow (price-weighted) increased by 20%; S&P 500 (weighted by market cap) increased by 10%

[JAGI410]

Originally Posted by MattTuck

Too bad the hand built bicycle lobby wasn't able to get a special bail out.

Perhaps this is where we can help! That stimulus check could make a mighty nice down payment on a frame and help a builder rest easy knowing rent can be made...

[fa63]

I feel like the hand-built bike scene has exploded in the past decade (along with the economy). I think these times will sort out the good from the rest (not just build-quality good, but business savvy as well), and that might not be a bad thing.

[pbarry]

Originally Posted by bigbill

I'm not getting a check because I'm single with no dependents but I'm going to donate $1200 to the local Boys and Girls Club who are helping parents who still work while school is closed.

My job is secure. I'm in the building supply industry and we are a vital industry. We spend our days re-engineering production for social distancing of workers and a roving team of cleaners who constantly wipe down surfaces.

AFAIK all adults making under $100k will get a check.

[MattTuck]

I know this might shock some, but apparently drafting a $2 trillion stimulus bill over the course of a few days might not give the needed space for reasoned thinking and meaningful debate.

to wit:

Sens. Scott (SC), Sasse(NE) and Graham (SC) wrote in a Wednesday letter:

"A massive drafting error in the current version of the coronavirus relief legislation could have devastating consequences: Unless this bill is fixed, there is a strong incentive for employees to be laid off instead of going to work. This isn't an abstract, philosophical point -- it's an immediate, real-world problem."

[mtechnica]

Originally Posted by MattTuck

I know this might shock some, but apparently drafting a $2 trillion stimulus bill over the course of a few days might not give the needed space for reasoned thinking and meaningful debate.

to wit:

Curious what the details are on that.

[makoti]

Originally Posted by MattTuck

I know this might shock some, but apparently drafting a $2 trillion stimulus bill over the course of a few days might not give the needed space for reasoned thinking and meaningful debate.

to wit:

All concerned are Republicans. One man's drafting error may be another man's intent. We'll have to see what the actually wording is & what the problem is.

[C40_guy]

Originally Posted by JAGI410

Perhaps this is where we can help! That stimulus check could make a mighty nice down payment on a frame and help a builder rest easy knowing rent can be made...

Richard still isn't taking any new orders.

[C40_guy]

Originally Posted by pbarry

AFAIK all adults making under $100k will get a check.

Something like that. Right now I'm collecting UI and my wife is self employed, but I believe the bar is set against 2018 reported net income. So we won't participate, and I pulled out the world's smallest violin when our son mentioned that he wouldn't either.

Not complaining, might even get a lift in UI...am hoping that I'm re-employed before that kicks in.

We are blessed to live in a quiet neighborhood, with two full refrigerators, a largely unused trail system at the edge of our neighborhood and enuff TP for a while...or until our son joins us. (If he does, he needs to bring his bidet!)

[notsew]

Originally Posted by mtechnica

Curious what the details are on that.

They added a $600 month increase to unemployment benefits across the board. The republicans cited are concerned that in some cases this will result in people being paid more for unemployment than for working.