13 April 2020 - The beginning yet again...

Starting this blog for the n-th time, hopefully, I keep up with it this time.

News

1) Disney World will furlough 43,000 union workers during coronavirus shutdown

- Neutral News. I feel that is is a reasonable step for the management to take, especially since there is yet an end in sight, so it would be better to send their staff back.

2) Dow futures slide more than 300 points as investors weigh coronavirus and oil outlook

- Positive News. OPEC+ agreed to cut production by 9.7 million barrels per day...

- At least the oil issue has come to an end. Lmao but how did Russia admit defeat, but I guess Russia is also not really in good shape now eh... but from some reports seems like they are fine... but dunno if they are telling the truth lmao, cus Russia will be russia.

3) Fed’s Neel Kashkari says coronavirus economic recovery ‘could be a long, hard road’

- Negative Opinion. I kind of agree with what he says that without a good vaccine or cure, it will be hard to see a huge rebound. It is so infectious that workers would hardly be able to come out and work even if the rates are low. There would probably be flares on and off especially with still a lot of uninfected people around... We shall see

4) Coronavirus live updates: China’s new cases rise above 100, Singapore reports 233 new cases

- Negative News. 

-  US GDP could fall as much as 40% in this quarter, says chief of the Atlantic Council: Dunno where they get the 40% from, but isn't that like unprecedented? WOAH. But even in the 2008 or 2009 financial crisis we don't have such recessions like 40%, i think 20% is still believable. Because major industries are unable to function, those that are able to function also have limited capabilities. Industries like oil, manufacturing and services. But nonetheless, this feels like it is also negating the 2T relief package... Honestly, I feel like it can't fall to that low of depths.... Especially since the US's economy is so diverse...

- Trump’s tariffs on China could cost the US in its coronavirus fight: I don't even know what to say about this. WHY? In such times I think they should give up at least temporarily the import taxes required. Especially since it will help with the bloody situation, they are in fact in need of all the help they need. They are bleeding out money, the longer they delay the treatments and give hospitals they resources they need the longer they will prolong the recession and push back the rebound. Surely they don't want to be left behind. This so dumb.

5) JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens