What do you mean no sports?

Don’t threaten me, next up Darts!

Cartnoon

Germs

Foil

Handy

Perform This Way

Tacky

Holy Cow. It’s like looking in a mirror.

January 20, 2017

19, 827.25.

I remember it because I was in D.C. getting ready for the Women’s March.

March 19, 2020

19, 898.92

And that’s where we start.

Stock futures point to more losses a day after the Dow closed below 20,000 for first time since 2017
by Fred Imbert and Thomas Franck, CNBC
Published Wed, Mar 18 2020

Futures contracts tied to the major U.S. stock indexes pointed to more losses at the open Thursday, building on the previous session’s steep losses as the coronavirus crisis rages on.

As of 8:33 a.m. ET, Dow Jones Industrial Average futures were down more than 500 points, implying an opening loss of more than 400 points. S&P 500 and Nasdaq 100 futures also fell.

“Markets are clearly in a state of panic and forced liquidations – but risks remain skewed to the upside and this should become much more apparent once some of the solvency issues are addressed,” Adam Crisafulli, founder of Vital Knowledge, said in a note.

Higher-than-expected jobless claims data also pressured investor sentiment. Last week, 281,000 people filed for unemployment benefits in the U.S., well above a Dow Jones estimate of 220,000.

The moves followed yet another violent day on Wall Street on Wednesday as investors swung back to pessimism after Tuesday’s 6% bounce.

The Dow dropped 1,338.46 points, or 6.3%, on Wednesday and clinched its first close below 20,000 since February 2017. The Dow was down more than 2,300 points at the lows of the session. The S&P 500 dropped 5.2% to 2,398.10 and closed nearly 30% below a record set last month as both indexes sank further into bear markets.

The Breakfast Club (Friends Like Me)

Welcome to The Breakfast Club! We’re a disorganized group of rebel lefties who hang out and chat if and when we’re not too hungover we’ve been bailed out we’re not too exhausted from last night’s (CENSORED) the caffeine kicks in. Join us every weekday morning at 9am (ET) and weekend morning at 10:00am (ET) (or whenever we get around to it) to talk about current news and our boring lives and to make fun of LaEscapee! If we are ever running late, it’s PhilJD’s fault.

This Day in History

US launches 2003 attack on Baghdad; Televangelist Jim Bakker quits ministry due to scandal; Nevada legalizes casino gambling; Bob Dylan’s debut album is released.

Breakfast Tunes

Something to Think about over Coffee Prozac

To get what you want, STOP doing what isn’t working.

Earl Warren

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Pondering the Pundits

Pondering the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news media and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Pondering the Pundits”.

Follow us on Twitter @StarsHollowGzt

Paul Krugman: Step Aside for Powell and Pelosi

Republicans, it turns out, can’t do economic policy.

America’s catastrophically inadequate response to the coronavirus can be attributed largely to bad short-term decisions by one man. And I do mean short-term: At every stage, Donald Trump minimized the threat and blocked helpful action because he wanted to look good for the next news cycle or two, ignoring and intimidating anyone who tried to give him good advice.

But here’s the thing: Even if he weren’t so irresponsibly self-centered, he has denuded the government of people who could be giving good advice in the first place. [..]

What’s now becoming clear is that when it comes to dealing with the economic fallout from Covid-19, the situation may be even worse. There are still some competent professionals holding senior positions at federal health agencies, who could give Trump good advice if he were willing to listen. But serious economic thinking has effectively been banned from this administration, if not the whole Republican Party. As far as I can tell, the Trump team is utterly incapable of formulating a coherent response to the gathering economic crisis.

Dana Milbank: Trump’s late conversion to reality leaves out his supporters

Behold, the perils of the Pinocchio presidency.

For three years, President Trump told his supporters that the federal government perpetrates hoaxes and frauds, that the media produces fake news and that nothing is on the level except for his tweets. He did the same with the novel coronavirus, portraying it as an ordinary flu that would “disappear” and accusing Democrats of a hoax and the media of exaggerating.

Belatedly, Trump has begun to speak the truth about the virus, which by some estimates could kill more than 2 million Americans without attempts to control it. After an abrupt change of tone Monday afternoon, Trump continued to say the right things, using the same word on Tuesday that former vice president Joe Biden and French President Emmanuel Macron have used: war. [..]

But Trump’s late conversion to reality has left behind one group of Americans that will be difficult to convince: his own supporters. Their alternative-facts diet has left them intolerant of anything the government and the media feed them.

An alarming new poll from NPR, PBS NewsHour and Marist shows that the number of Republicans who believe the virus is a real threat has actually fallen over the past month, from 72 percent in February to just 40 percent now. A majority of Republicans now say the threat has been blown out of proportion — more than double the 23 percent who said so last month.

Senators Amy Klobuchar and Ron Wyden: Here’s how to guarantee coronavirus won’t disrupt our elections

The coronavirus has brought unprecedented disruptions to the daily lives of Americans. Something as commonplace as walking into the grocery store is a troubling reminder that the world is facing a challenge that most of us have never seen before.

Our top priority right now is to make sure that people are safe in the face of this global pandemic. Federal, state and local health-care providers and first responders are working overtime to protect people, and we must give them the resources they need to do their jobs. The federal government must also fund testing, vaccine development and economic assistance for those whose lives have been turned upside down.

In the midst of this crisis, we must also remember to protect the foundation of our democracy by ensuring that every eligible American can safely cast a ballot in the upcoming elections. The coronavirus should not stop our citizens from casting their ballots. [..]

Without federal action, Americans might have to choose between casting a ballot and protecting their health. That’s wrong, and we must take swift action to address the problem.

The best way to ensure that this virus doesn’t keep people from the ballot box is to bring the ballot box to them. We must allow every American the ability to vote by mail. And we must expand early voting so that voters who are not able to vote by mail are not exposed to the elevated infection risks of long lines and crowded polling locations.

Michelle Goldberg: Grieving for My Sick City

For those who revel in urban life, it’s hard to believe it can just stop.

There is a lot to mourn right now. Many thousands of people all over the world are mourning dead loved ones. People are mourning lost jobs, lost savings, lost security. Senior citizens in locked-down nursing homes are mourning the loss of visitors. I’m lucky; I’m just mourning the city.

To live in a city like New York, where I’ve spent most of my adult life, is to trade private space for public space. It’s to depend on interdependence. I don’t have a dining room, but I’ve been able to eat in thousands of restaurants. I have no storage space, but everything I needed was at the bodega. I don’t have a home office, but I could work at coffee shops.

Now those supports are gone. The coronavirus disaster is going to devastate communities all over the country, even if many in red America don’t realize it yet. But it poses particular challenges for urbanites, and not just because the disease spreads more easily where people are packed close together.

Amanda Marcotte: Right-wing pundits’ shameless pivot: It was a “hoax,” but now it’s an “emergency”

After weeks of minimizing coronavirus, now conservatives are trying to blame Democrats for the pandemic

For weeks, Donald Trump clearly believed he could lie the coronavirus away. As David Leonhardt of the New York Times carefully chronicled, starting on Jan. 22, Trump began a campaign of falsehoods geared towards tricking Americans — and especially the stock market — into thinking everything was going to be fine, this epidemic was “very well under control,” that “like a miracle” the virus “will disappear” and that anyone who suggested otherwise was participating in a “hoax.” Fox News and other right-wing media, in the endless infinity symbol of conservative lies, both led and followed Trump on this, blanketing red-state America with a steady drumbeat of assertions that the “liberal media” was exaggerating the crisis to hurt Trump.

Furthermore, all this happened in the face of substantial evidence that Republican voters and Fox News viewers, who tend to be older and live in rural areas with poorer access to medical care, are more likely to die from coronavirus.

Life, as the Twitter dorks say, comes at you fast. Coronavirus has been reported in 49 states now, and cities are going on lockdown to prevent the spread. After multiple failed stunts geared toward trying to trick investors, Trump finally held a serious press conference on the crisis Monday. All those right-wing pundits on Fox News and talk radio, being utterly shameless, have switched seamlessly from denying that we have a coronavirus problem to claiming that Trump has been showing mighty leadership — and oh yeah, trying to blame Democrats for the problem.

Fantasy History

Actually I’m not sure what HBO’s The Plot Against America brings to the table that 4 years of Amazon’s The Man In The High Castle didn’t cover but I’m willing to be convinced.

Germany has nothing on us, US, U.S., USA!, USA!

Cartnoon

Totally different from Toilet Paper. You can usually find it if you use both hands.

The Breakfast Club (What If We All Stand Up?)

Welcome to The Breakfast Club! We’re a disorganized group of rebel lefties who hang out and chat if and when we’re not too hungover we’ve been bailed out we’re not too exhausted from last night’s (CENSORED) the caffeine kicks in. Join us every weekday morning at 9am (ET) and weekend morning at 10:00am (ET) (or whenever we get around to it) to talk about current news and our boring lives and to make fun of LaEscapee! If we are ever running late, it’s PhilJD’s fault.

This Day in History

Russian cosmonaut first man to walk in space; Mahatma Gandhi is sent to prison for civic disobedience, Italy’s Mussolini agrees to enter WWII; Terri Schiavo’s feeding tube removed; Singer John Philips dies.

Breakfast Tunes

Something to Think about over Coffee Prozac

All tyranny needs to gain a foothold is for people of good conscience to remain silent.

Edmund Burke

Continue reading

This is already a Bear Market.

Just in case you’ve missed it we’re (well, not me personally since I only invest in Banana Futures and Off Off Off Broadway Plays) over 30% below our Record Highs of a mere Month ago and pushing the January 20th, 2017 Valuations (only a 4% gain over 3 Years).

And we are Limit Down today before the Open (at least in Futures, 6.5% at the Bell which is just below the initial actual threshhold for a Trading Halt).

Greed still rules, witness yesterday’s Dead Cat but I think it’s damn silly, 19K if it holds and my estimation of actual value (if you consider Market Cap in any way related to Revenue which evidently most people don’t) only 10K so we have 50% more to go before bottom.

Oh, and 20% Unemployment and you can’t go anywhere and there’s nothing on TV and no end in sight. Tell me how you feel about it in a month.

Good Times. Proud to be ‘Murikan. Best Health System and strongest Economy in the World.

Stock futures drop, hit ‘limit down’ halt, amid unprecedented volatility from coronavirus crisis
by Fred Imbert and Yun Li, CNBC
Tue, Mar 17 2020

Stock futures pointed to big losses on Wednesday as the markets remained highly volatile with the government response to the coronavirus fallout still unfolding.

A violent reversal in Treasury yields in response to a potential $1 trillion stimulus package helped to unnerve investors.

Around 6:42 a.m. ET, futures on the Dow Jones Industrial Average indicated a more than 1,000-point loss at Wednesday’s open. S&P 500 and Nasdaq-100 futures were also down. Futures contracts for the indices were in “limit down” territory, a situation where trading is halted after futures have hit a 5% loss and can go no lower. The S&P 500 gained 6% on Tuesday.

Exchange-traded funds that track the indexes are not subject to limit-down restrictions, however, and suggested what the open would look like.

On Tuesday, CNBC learned the White House is weighing a fiscal package of more than $1 trillion that includes direct payments to Americans and financial relief to small businesses and the airline industry. Treasury Secretary Steven Mnuchin also said separately at a press conference that corporations will be able to defer tax payments of up to $10 million while individuals could defer up to $1 million in payments to the Internal Revenue Service.

“When you decimate the restaurant industry, the travel industry, the hotel industry, the airline industry .. the cruise line industry, obviously you’re going to take a huge divot out of economic activity,” DoubleLine Capital CEO Jeffrey Gundlach said on a webcast Tuesday after the bell. Gundlach put the odds of a recession at 90% and said it was “ludicrous” to think otherwise. He added he believes the stimulus will end up being even bigger than $1 trillion

Gundlach also commented on the reversal higher in Treasury yields, noting it could put the U.S. in the uncomfortable position of having both a weak economy and rising rates, as new debt issuance to pay for the stimulus floods the bond market.

2020 Presidential Primaries: 4 States Minus One – 441 Delegates

There were four states scheduled to vote today, Arizona, Florida, Illinois and Ohio. On Monday, Ohio has “postponed” its primary citing the outbreak of the highly contagious coronavirus.

There are 441 delegates at stake in the three remaining states that were all won by Hillary Clinton in 2016.

Washington state’s primary was called for Vice President Joe Biden and California was called for Senator Sanders.

  • Arizona primaries – 67 delegates. Polls close at 9 PM ET.
  • Florida primaries – 219 delegates. Polls close at 7 PM ET.
  • Illiois primaries – 155 delegates. Polls close at 8 PM ET.

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