/biz/ - Business & Finance

LESS LESS LESS

MOMMY MAKE IT STOP

>>18244649
>https://www.nbcnews.com/business/economy/coronavirus-job-losses-could-total-47-million-unemployment-rate-may-n1172111

States saying that they need more time to process new claims before they can be counted

60 million to be unemployed EoM

NFP is going to be fun tomorrow

Why is this a surprise?

Last week California said they had over a million. Just one state!

>>18244649
Priced in mates

YES BABY! FUCK YES WE WON! WE FUCKNIG WON!!!!!!!

OY VEY NOT ANNUDA 6 MILLION

>muh 6 gorillion

>>18244809
nice

>>18244790
Oh noes
It wasn't priced in!

>>18244649
Buddy, the public expectation in the EU and the US is that pretty much EVERYONE is temporarily jobless.
Anything less than 99% jobless is bullish news.

I don't believe it, it can't be more than 200,000. No way could you possibly fire that many Americans in such a short period of time.

>>18244871
Any argument about jobless numbers being inaccurate would result in them being higher not lower. They've changed the definition of employment a few times over the past few decades to make things seem better than they are.

>>18244649

priced in

>>18244871
Its normally like 200000-300000. Google coronavirus to see whats been happening lately

>>18244889
>>18244902
lmao

>>18244649
That's what you get for not being financially sound and working for yourself. All I do is make a few trades per day on CKB and I've amassed 6M Nervos + $60,000 / week.

Look at the chart.

>>18244871
Why not?
The states like mine have stopped non essential businesses. Meaning they got no money, so they laid off employees. Times that by every non essential business in the state. 6 million is a low estimate.

>>18244790
>forecasts were around 3.5m
>nearly double that
>claims from last week were revised up as states were still working through the backlog
>priced in
Kek

>>18244649
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>18244649
It's another shoah!

>>18244871
Yea thats why shit hole flyover states have over 100K claims 2 weeks ago alone retard

>>18244649
Keynes should be resurrected and hanged.

>>18244965
>forecasts were around 3.5m
lmao, forecast was 47 million you moron.

https://www.nbcnews.com/business/economy/coronavirus-job-losses-could-total-47-million-unemployment-rate-may-n1172111

>>18244965
Yeah in Pennsylvania the unemployment office was so busy on Saturday that when you called in they told you to use the website.
>mfw the website crashed

>>18244649
JUST WAIT TILL McDONALDS CLOSES

>>18244649
Don't worry SP will go up anyway...

>>18245017
The website CRASHED?????

WHOA ANON

>>18244856
>>18244965
>not realizing im actually a genuine and hungry bear that is just harvesting easy (yous)

watch the markets pump today. just watch. this whole fucking world is a scam

>>18244965
What retards estimated 3.5 million when everyone but grocery baggers and dunkin donuts girls has been ordered to stay home? Did they think everyone in America was in a make work middle manager job that could can be done with 2hours per day of actual work over the phone?

people are in major denial. this is a wakeup call

HOLY SHIT 6 MILLIONS UNEMPLOYED JUST FLEW OVER MY HOUSE

>>18245084
>>18245032
I like how you think guys , don't you want a job at a central bank?

https://fred.stlouisfed.org/graph/?g=gI4A

>>18245092
Sounds like a cope

AAPL$ still at 250$ lol

>>18244965
Make those work for Amazon = everyone wins.

>>18244895
It already went down so yeah its already priced in.

Don't mind me, just having some fun with all the "muh happening" cheerleaders itt.

See what fucking happens when you idiots elected Obongo who destroyed the only working economical system (trickle down)? Everyone has to suffer now because of you.

>“Minorities are being disproportionately affected in the displacement,” Novoselsky said. “So a lot of the positive wage differential that we’d seen shrinking over the past 10 years both from females and African Americans, we’re going to see some of it going away.”
Holy freaking based

>>18245117
Media shills are calling it a "recession", no it's a depression. My local Congressman stunned me too when he said the "thousands" of unemployed across this country on local radio, surely he is not that out-of-touch and just lying to the mouth breathers.

>>18244649

>>18245290
That was the plan

GOD FUCKING DAMN IT I JUST WANT ANOTHER WEEK WITH A CIRCUIT BREAKER AND PANIC IN THE MARKETS

>>18245251

USA was a mistake

>>18245306
based

>>18244798
rejoice, bobros

>>18244649
It is 6 gorillion, you stupid goy

> historic job loss numbers
> markets down less than a percent
gg JPow, you've saved us!

>>18245340
Yes, that's what happens under lockdown/quarantine.

>>18245251
they are still under quarantine, there will be a second wave..

>>18245483
That's not how flattening the curve works.

>>18245340
>tfw soon it's going to need a log scale

KEK

>>18244649
i think normies will run out of patience by end of next month.
new govt approach might be
early detection.
early treatment.
i suppose.

>>18245706
THEM BONES THEM BONES THEM DRY BONES

I will be going long because I know by now that ((you guys)) are ALWAYS WRONG

>>18244649
oy vey

>>18245004
That article was already mentioning the 3.5m unemployed. It's obviously talking about the long term, you utter shit-for-brains.

>>18245477
And you expect for companies that are now on the verge of bankruptcy to go back to be hiring at full capacity again any time soon? While operating at massive losses, going in to debt to cover rent/leases?

>>18245477
sure once the lockdowns/ corona panic ends all companies will reopen and hire everyone they previously fired. 100% confirmed

Those numbers are from before Corona really got going. Expect 20M or more unemployed by the end of April.

>>18245953
>That article was already mentioning the 3.5m unemployed.
Where? Quote the specific sentence.

>>18246030
>>18246054
>you expect the economy to recover????
lmao this question

>>18246114
>quotes estimates for weekly figures
>responds by quoting the overall, longer term figure expected
Hello learnt to read please

>>18244649
And the dow is going up. Wtf is this market?

>>18246219
Nice source.

>>18246240
/biz/ is a muh happening panic echo chamber. It's clueless.

>>18245251
>quarantine your entire country for almost 2 months straight
>STILL haven't reached the downslope yet
hmm yes, nothing to see here, go ahead and open the country back up.

>>18246260
Here’s your source retard

>>18246260
>/biz/ is a muh happening panic echo chamber. It's clueless.
Kike spotted. Your world is falling apart and you aren't going to slow the collapse. GET FUCKED AHAHAHAHAHA

>>18246290
>hmm yes, nothing to see here, go ahead and open the country back up.
Slowly.
But keep the elderly quarantined. They're 95% of the dead.

>>18246293
>Though consensus estimates were for 3.7 million initial jobless claims for the week ended March 28, the range of estimates on Wall Street were wide
>On the high end, Goldman Sachs expected 6 million claims for the week
https://finance.yahoo.com/news/coronavirus-covid-weekly-initial-jobless-claims-march-28-165758189.html
In other words, this was expected and priced in.
Stop consuming sensationalist media.

>>18246298
Imagine being this much of a muh happening panic shill.

>>18246365

You know what bro, you seem like a very smart individual with great market insight. Trust your instincts and load up on calls. Quarantine ought to be over by July so if this is all media hype the markets should roar to all time highs by then. Come back in August and show /biz/ your new lambo.

SAY IT WITH ME BOBOS
PRICED IN
R
I
C
E
D

I
N

>>18246365
>futures are up 1.5%
>as reports of the jobless estimate drew higher they started falling back
>priced in
>FT
>sensationalist media
>posts yahoo instead
Kek sorry your holds got annihilated poorfag you were probably part of the same people saying it’s just a flu a couple weeks ago

>>18246365
The world is crashing and you are crying?

>>18246408
He's a fucking retard and so are you. Imagine being so obviously retarded that you take advice from a kike on /biz/

>>18244649
>priced in

>>18246438
Kek I think that anon was just being sarcastic, this fag >>18246365 is a confirmed retard though

>>18246438
No no. Let him load up on calls. Let him put his money where his mouth is because he's clearly smarter than the rest of us.

>>18246436
>The world is crashing and you are crying?
You meant to quote this guy: >>18246298

>>18246293
>that's just the ones filing for first time unemployment
>not even including all the other ones that are filing for unemployment a second or third time
my god

>>18246461
>>18246471
>>18246438
Just look at these panic shills circlejerking.

Like I said, /biz/ is a corona panic echo chamber.

>>18246429
>futures are up 1.5%
>as reports of the jobless estimate drew higher they started falling back
Are you sure?

>>18245290

Kek

>>18244649
Really OP?

>>18244649
Reminder this doesn’t include people who didn’t file, as well as gig, casual, freelancers, etc.
The real number made jobless is probably at least 1.5x that

>>18244790
Market may be pumping but reality will be forced on it sooner or later. Thinking of holding off on dcaing for a few weeks if it keeps going up i probably just stay out.

>>18246600
>don't be concerned, just jacks us up to ~20% unemployment, totally normal for such a minor crash.

>>18244870
>temporarily jobless.
As if that isn't generally the case.

>>18246698
Yeah, from historical data. Of course, it's going to be a sudden surge of economic downfall.

"Recent economic studies show that pandemics will be the cause of an average annual economic loss of 0.7% of global GDP—or $570 billion."

Source: http://www.centerforhealthsecurity.org/event201/about

>>18246054
>hire everyone they previously fired.
Lol so many hire slowly tho albeit you seemed obviously ironic.

>>18246726
This is an acute quarantine. That's not generally the case, no.

In many places in Europe right now, the majority of people are on temporary unemployment.

>>18246737
Your sources makes no mention of unemployment, only projections based on employment numbers that aren't up to date yet.
20% unemployment is unprecendented, even during 08 happening. This shit is from 2019, it's not fitted to this disaster, just a generic one.

>>18246785
Replace temporary with indefinite and reassess

>>18246875
Yes anon, the majority of people in Europe are indefinitely unemployed lmao.

>>18244649
>muh 6 million jobless
If you seriously believe there are 6 million without jobs you need to wake up to the LIES. Anne Frank is here and she has a job

>>18244933
>everyone working for themselves
we got a bright one here

>>18245306
Who'd a thunk it?

Times get tough; dead wood gets cut. So weird! It's almost like non-african men carry the whole world or something...

>6.65
6, 66, 36, 666, 99, etc

One of the less obvious pieces of bullshit that's come out of post-2016 /pol/ is that instead of posting
IT'S HAPPENING

people now post
IT'S HAPPENING
>IT'S HAPPENING
IT'S HAPPENING
>IT'S HAPPENING
40 times because there is so much spam on modern /pol/ that the only way to get your post read is to spam even harder

>>18246365
>Stop consuming sensationalist media.
>uses yahoo finance as a source
It's retards like you who will make bobos rich. I REALLY want to be bullish but you fail to see many things to have someone explain to you why 2008 will look like a field trip

>>18247430
I said "stop consuming", not "stop reading".

Never stop seething though.

>>18247392
>nu /pol/ reddit safe haven is garbage
who would have guessed

>>18247451
nigga the unemployment numbers are only one of the factors at play here. And the numbers coming out are already worse thatn the estimates. If 2% of the general population is already filing for FIRST time unemployment how do you think this will play out when companies start filing for bankruptcy or default on their loans? Again, I'm trying to be bullish as much as mumu posters but what you have been posting so far is nothing less than wishful thinking

>>18247538
>what you have been posting so far is nothing less than wishful thinking
Quote my posts where I made ANY wishful projections for the future.
Hell, quote me where I made any projections AT ALL.

>>18244649
Niggers will be the white man of white niggers.
Everyone is a nigger therefore niggers will act like white people because we are set back to monkeys we are ape niggers.

>>18244649
>NEETS will become a serious political faction in your lifetime

Our numbers swell, elites on suicide watch

>>18244649

Unironically bullish and priced in

ok, my bad I was carried away by the shit that was >>18246365. As much of a meme is this chink flu, the damage in the markets has not yet been reflected. Unemployment projections already got BTFO and indices starting to get green make me even more bearish. I would argue that many of those claiming unemployment could be scammers like in the case of small businesses claiming money from the SBA. With countries being STILL in lockdown and projections being adjusted, the bottom is yet to be seen. Long term things could be better but every day this ling is getting longer. Maybe I'm just worried bc I'm already getting fewer shifts and on the verge of unemployment despite being a key worker

I'm not a buisiness dude, I mostly just read up on economic stuff cuz its fascinating to me. But yeah, I'm a deputy sheriff in a medium-ish county in the midwest. Over the last week we've had 23 job applications turned it. We don't even have any positions open, people are just applying because they know the sheriff's office is still working during quarantine and are desperate for anything. We usually have like 4 or 5 applications turned in during an entire year.

On the bright side, I seem to now be working in a very busy and increasingly in demand field.

>record shattering unemployment numbers
>stocks are still going up because of some fucking oil tweet
people are gonna get lynched for this

>>18247881
>>18247710
This shit is terrifying and I agree with the general sentiment that it doesn't seem to have been reflected in the market.

I want so badly to meme "priced in" and feel smug about it, but joblessness is actually a very scary thing for us wagies.

>>18244711
>States saying that they need more time to process new claims before they can be counted

Yep. I filed 3 weeks ago and my application still hasn't been processed.

Haha digi coin go moooooon

I no longer feel bad about being a gay bear and hoping for the stock market to crash further. It deserves to crash and it should be raining Jews. The economic hurt is real, but the numbers for the market are being pumped at the cost of future economic pain so that people do not have to recognize and address the current pain of 6 million unemployed and with major debts.
>all fraudulent economic systems deserve to fail and fall, or else they will eventually become parasitical and destroy the host

>>18244649

Survive

>>18244649
6.6M jobless applications and Dow is still green.
That's 10 Million in 2 weeks. And don't think the 3.3 from last week got a new job.
That printer sure is working marvels.

heh

lmaoing @ amerimutts

The stock market doesn't care.

Worst news in years and we are in the green.

>>18244649
All because of government overreaction to the flu

>>18244649
6 mill? Holo cost, heh. Hang me.

>>18244649
>believe everything on mainstream
how many times have you heard this exact number anon?

>>18248457
Yeah, shits going to get very bad. Our societey is currently in a slow motion train wreck that we're going to spend the next 10 to 15 years rebuilding.

>>18245031
You shut your jannie mouth

>>18248457
>Thanks for becoming poorer so we don't get the flu

>>18244748
The biggest state population wise.

>>18250371
>Sacrifice the young to save the old

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>>18247568
see >>18247710
Also what most bulltards fail to see is that this downturn is not entirely dependent of the kung flu. As may are stating on this board and outside is that the flu was the prick that popped the bubble. If anything, it's going to make it worse but will act as a scapegoat for whatever state the world will end up like. There were already signs that we live in a bubble for years now but locking down countries and messing up with (((global markets))) is only going to make us plebs suffer the most

>>18247392
lmfao, really?
haven't been to /pol/ since 2016, I just try to make my threads as shit as possible on purpose

What percentage of total job losses will come back after corona-chan?

>>18244649
Bullish as fuck. DOW +10% tomorrow

>>18252678
They won't

>>18244649
Was there any reason governments couldn't have just suspended all rent/mortgage payments until the lockdown was over?

>>18252811
I'll give you a reason: We live in a clown world run by sadomasochistic degenarate apes

>>18244871
Literally yesterday and from one single company.
https://www.usatoday.com/story/money/2020/04/01/mass-layoffs-sweep-sephora-amid-coronavirus-pandemic/5103587002/

>>18245340
Golden days of 2008 depression so long ago

>>18244711
>>18248525
>>18252862

>>18252732
0%?
We all wish
That'd be the happening after 12 months maximum.

Most of these early jobless claims are
just closed down bars and restaurants, they'll come back when they reopen. Just like in China.

>>18244649
/pol/ said that that that is geomatria.

>>18253091
You do know that China has reclosed all public spaces to deal with the second of many waves of new cases, right?

>>18244993
Based.

>>18253316

I don’t know about you all... but because of Corona this is the first time since college that I’ve felt alive. I have lots of silver and been waiting for something like this to happen for 5 years. The point where things get so bad that 1 silver Roosevelt dime will buy me a blowjob from a formerly well to do housewife and her 18 year old daughter at the same time. I’ve been waiting in the shadows laughing at these cuck husbands who buy their wives range rovers instead of buying silver bullion... knowing that I’ll be face fucking their wives mouths for the 1.30$ it cost me to buy that silver dime.

Just yesterday at Whole Foods I seamlessly entered into conversation about Corona with a roastie milf that had a ring on her finger in the water aisle... and I said this is all a cover for trump to bring us back on a gold standard. She started looking at me in amazement like she wanted me to paint her lips in cum. At the end of the conversation I’m like take my number l have plenty of protection and freeze dried food if you ever need it and she took it from me.

>>18253316
This isn’t even as bad as gonarhea it’s just spreading faster.

>>18253339
Lmao

No shit. Millions of people stand to make more money through unemployment than they did from working, thanks to the $600 a week gibs in the care package.
6.6 million is just the applications from the last week. It's actually mover 10M and right now and likely to reach 20M.

>>18253339
cringe

>>18253316
No, and I just searched and found nothing.

>>18253635
Cringe

GTFO Redditor

>>18244790
this has got to be the funniest meme

>>18245017
if someone would like to create a nice chaos, the idea would be to ddos those gob websites in minecraft

>>18253581
I've heard projections as high as 35 or 45 million, since this thing hasnt even peaked yet, and is gonna peak about 2 or 3 more times before the vaccine gets here in 12 to 18 months.

>>18245017
>Yeah in Pennsylvania
Haha in PA you are not going to get any service from the government

They can't even keep their marijuana dispensary registry program running when they're making millions and millions of dollars
forget about when they're giving millions away

>>18244871
the entire movie industry shut down in early march. think about how many jobs people lost just in hollywood alone.

>>18244649
priced in.

CORONA-CHAN PLEASE

>>18245251
Sure, it'll flatten out and even decrease this summer. And what will you do once it's back stronger than ever this november?