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Any confirmed corona cases in the tf2 community?
posted in Off Topic
91
#91
-2 Frags +
tsar

yes, the only time you can print money to "lend": to ensure the profits of shareholders

[quote=tsar][/quote]
yes, the only time you can print money to "lend": to ensure the profits of shareholders
92
#92
2 Frags +
warriordragon12tsarthe Fed will EARN INTREST on this.
until orange man bullies the fed into negative rates... another rate cut coming this week

yes, thinking the fed is literally going to purchase 1.5T in equity is stupid, but they have really messed up monetary policy over the last decade

Are you saying the Fed shouldn't have lowered rates/this isn't what would have happemed of the President wasn't Trump. Emergency meetings to adjust rates are pretty normal and unrelated from the President.

I don't like Trump at all, and it's clear he wishes to control the Fed and probably thinks it is part of the "Deep State" theory he belongs in for no reason, but I don't get you angle here.

Also to say "The Fed" has same over this past decade also doesn't make that much sense as the Chairman and most of the Board of Governors are different people then in 2010. What you're saying is akin to blaming "The Executive Branch" for bad actions over the past decade

Also IMO the Fed has acted well since 2010. They kept rates too low in the 2000s, but all the chaos in 2008 onward was the result of shady practices in Investment Banks which are not part of the Federal Reserve system

[quote=warriordragon12][quote=tsar]the Fed will EARN INTREST on this.[/quote]

until orange man bullies the fed into negative rates... another rate cut coming this week

yes, thinking the fed is literally going to purchase 1.5T in equity is stupid, but they have really messed up monetary policy over the last decade[/quote]
Are you saying the Fed shouldn't have lowered rates/this isn't what would have happemed of the President wasn't Trump. Emergency meetings to adjust rates are pretty normal and unrelated from the President.

I don't like Trump at all, and it's clear he wishes to control the Fed and probably thinks it is part of the "Deep State" theory he belongs in for no reason, but I don't get you angle here.

Also to say "The Fed" has same over this past decade also doesn't make that much sense as the Chairman and most of the Board of Governors are different people then in 2010. What you're saying is akin to blaming "The Executive Branch" for bad actions over the past decade

Also IMO the Fed has acted well since 2010. They kept rates too low in the 2000s, but all the chaos in 2008 onward was the result of shady practices in Investment Banks which are not part of the Federal Reserve system
93
#93
21 Frags +

so many experts in this thread))

so many experts in this thread))
94
#94
1 Frags +
Collaidetsaryes, the only time you can print money to "lend": to ensure the profits of shareholders

You're putting lend in quotes like it won't be paid back, and as if this deal could be extended to a hospital or school. In the past 40 years the Fed litterally has ALWAYS collected intrest on deals like this. There is no slime or greed here. It is for the benefiet of the world economy so banks that now have cash instead of reserves can loan that money out to push interest rates down and keep the economy going.

This is like if hospital or school wanted to exchange a few billion in securites they already own for cash as long as they pay it back in a matter of days.

No money is printed. Stop getting your opinions from memes that say "money machine go brrr" and read a fucking article before you speak.

I'll link one that doesn't require a subscription like the WSJ so you don't continue spreading misinformation.

https://www.vox.com/platform/amp/policy-and-politics/2020/3/13/21178457/1-5-trillion-stimulus-loan-fed-federal-reserve

[quote=Collaide][quote=tsar][/quote]
yes, the only time you can print money to "lend": to ensure the profits of shareholders[/quote]
You're putting lend in quotes like it won't be paid back, and as if this deal could be extended to a hospital or school. In the past 40 years the Fed litterally has ALWAYS collected intrest on deals like this. There is no slime or greed here. It is for the benefiet of the world economy so banks that now have cash instead of reserves can loan that money out to push interest rates down and keep the economy going.

This is like if hospital or school wanted to exchange a few billion in securites they already own for cash as long as they pay it back in a matter of days.

No money is printed. Stop getting your opinions from memes that say "money machine go brrr" and read a fucking article before you speak.

I'll link one that doesn't require a subscription like the WSJ so you don't continue spreading misinformation.

https://www.vox.com/platform/amp/policy-and-politics/2020/3/13/21178457/1-5-trillion-stimulus-loan-fed-federal-reserve
95
#95
16 Frags +

hey guys let’s take a break for a moment here real quick.

just wanted to let you all know that if you bought more than one package of toilet paper that you’re an ape

that’s all. you can talk about inflation or whatever now

hey guys let’s take a break for a moment here real quick.

just wanted to let you all know that if you bought more than one package of toilet paper that you’re an ape

that’s all. you can talk about inflation or whatever now
96
#96
2 Frags +

grocery shopping was great today, barely anyone out. only shortage I see is meat, why would people stock up on meat?

grocery shopping was great today, barely anyone out. only shortage I see is meat, why would people stock up on meat?
97
#97
3 Frags +
-protogrocery shopping was great today, barely anyone out. only shortage I see is meat, why would people stock up on meat?

no mince here, no deep freeze pizzas here, at least corn flakes were untouched

it's weird how panic shoppers work "yeah let's get the food that relies on appliances to work 24/7 and leave the dry store food alone"

[quote=-proto]grocery shopping was great today, barely anyone out. only shortage I see is meat, why would people stock up on meat?[/quote]

no mince here, no deep freeze pizzas here, at least corn flakes were untouched

it's weird how panic shoppers work "yeah let's get the food that relies on appliances to work 24/7 and leave the dry store food alone"
98
#98
5 Frags +

https://cdn.discordapp.com/attachments/687147592206909469/688706772625653778/9812379ba9a045eb16d9f75fb2fe274246bbc81d35cbd473ad47253652250746.png

[img]https://cdn.discordapp.com/attachments/687147592206909469/688706772625653778/9812379ba9a045eb16d9f75fb2fe274246bbc81d35cbd473ad47253652250746.png[/img]
99
#99
1 Frags +
tsarAre you saying the Fed shouldn't have lowered rates/this isn't what would have happemed of the President wasn't Trump. Emergency meetings to adjust rates are pretty normal and unrelated from the President.

I don't like Trump at all, and it's clear he wishes to control the Fed and probably thinks it is part of the "Deep State" theory he belongs in for no reason, but I don't get you angle here.

Also to say "The Fed" has same over this past decade also doesn't make that much sense as the Chairman and most of the Board of Governors are different people then in 2010. What you're saying is akin to blaming "The Executive Branch" for bad actions over the past decade

Also IMO the Fed has acted well since 2010. They kept rates too low in the 2000s, but all the chaos in 2008 onward was the result of shady practices in Investment Banks which are not part of the Federal Reserve system

well I meant that interest gained on the repurchase market will go away with negative rates.

this is just my opinion, but we kept recession level rates for 7 years after the recession ended. then we lowered these rates for temporary market corrections in 2019 despite that year being +30% across every major index, so now when we actually could use the stimulus, theres a lot less to actually cut. I also think it's useless, the coronavirus has largely resulted in a supply shock, and you can't exactly stimulate demand when everybody is too scared to leave their homes

[quote=tsar]
Are you saying the Fed shouldn't have lowered rates/this isn't what would have happemed of the President wasn't Trump. Emergency meetings to adjust rates are pretty normal and unrelated from the President.

I don't like Trump at all, and it's clear he wishes to control the Fed and probably thinks it is part of the "Deep State" theory he belongs in for no reason, but I don't get you angle here.

Also to say "The Fed" has same over this past decade also doesn't make that much sense as the Chairman and most of the Board of Governors are different people then in 2010. What you're saying is akin to blaming "The Executive Branch" for bad actions over the past decade

Also IMO the Fed has acted well since 2010. They kept rates too low in the 2000s, but all the chaos in 2008 onward was the result of shady practices in Investment Banks which are not part of the Federal Reserve system[/quote]

well I meant that interest gained on the repurchase market will go away with negative rates.

this is just my opinion, but we kept recession level rates for 7 years after the recession ended. then we lowered these rates for temporary market corrections in 2019 despite that year being +30% across every major index, so now when we actually could use the stimulus, theres a lot less to actually cut. I also think it's useless, the coronavirus has largely resulted in a supply shock, and you can't exactly stimulate demand when everybody is too scared to leave their homes
100
#100
3 Frags +

https://slate.com/business/2020/03/coronavirus-groceries-supermarket.html

fuck chocolate hummus

https://slate.com/business/2020/03/coronavirus-groceries-supermarket.html

fuck chocolate hummus
101
#101
4 Frags +

It may not be true that the 1.5 trillion from the fed is a pure stimulus and not a low-interest loan but this context is important to show just HOW low-interest we're talking:
https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html

EDIT: also, even if you acknowledge that the Fed is doing its job and there's nothing inherently wrong with their monetary policies, it still shows an extreme lack of priorities in our country when a federal agency can throw trillions around with no legislative oversight to help out the financial sector but random individual people have to settle for high-interest credit card or payday loans (and we sure as shit never get a bailout!)

I thought this piece was a good summary
https://theweek.com/articles/901853/feds-15-trillion-intervention-explained

It may not be true that the 1.5 trillion from the fed is a pure stimulus and not a low-interest loan but this context is important to show just HOW low-interest we're talking:
https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html

EDIT: also, even if you acknowledge that the Fed is doing its job and there's nothing inherently wrong with their monetary policies, it still shows an extreme lack of priorities in our country when a federal agency can throw trillions around with no legislative oversight to help out the financial sector but random individual people have to settle for high-interest credit card or payday loans (and we sure as shit never get a bailout!)

I thought this piece was a good summary
https://theweek.com/articles/901853/feds-15-trillion-intervention-explained
102
#102
5 Frags +

the first guy in america who died from it lived in my neighborhood but im gonna be alright

the first guy in america who died from it lived in my neighborhood but im gonna be alright
103
#103
2 Frags +
warriordragon12snip

While the Great Recession ended in 2009, the unemployment rate did not drop down to pre-recession levels until 2015. Given the dual-mandate of the Fed, they are required to simulations act to pursue full employment, explaining the low rate until 2015.

I now agree that rates probably shouldn't have been cut as much earlier this year, but I thought it made sense at the time. Hindsight is 20:20, haha. It would be better now if they could have made a cut from 2.4 instead of 1.6, (thanks FRED).

I agree with your point that this is a supply shock and this is a case of changing demand, I still think it is the right play. The Fed has the opportunity to act quicker than Congress. Even if they can't solve the problem themselves, this action reduces barriers to do business and will likely make eventual fiscal and health policy more effective.

Good points all around, though. Glad to see economic knowledge on this sight.

mustardoverlordsnip 2

Do you want legislative oversight of the Fed?

If that were the case, important policy maneuvers such as Paul Volcker 's anti-stagflation interest rate hike in the 1980s would never happen as no self-serving congressperson would want the blood on their hands for starting a recession when it really was needed.

Additionally, legislative nannying would cause monetary policy to take on the major problem in fiscal policy - congress takes a long time to get its act together. Even right now, the corona fiscal policy still hasn't been pushed through. Placing congress, comprised of members who do not necessarily have the same financial expertise of the members of the Board of Directors or the Chairmen of regional banks, seems like a bad idea from my point of view.

And one last thing, the rate the Fed targets is the Federal Funds rate, which is the rate that banks should lend to each other at for overnight loans. Loans involving the Fed use something called the Discount rate, which is usually around half a percent higher. It is a really low interest rate loan still, but the banks are also putting up 100% collateral that is also very liquid.

edit: clarified Paul Volcker's actions a bit to make my point clearer

[quote=warriordragon12]snip[/quote]

While the Great Recession ended in 2009, the unemployment rate did not drop down to pre-recession levels until 2015. Given the dual-mandate of the Fed, they are required to simulations act to pursue full employment, explaining the low rate until 2015.

I now agree that rates probably shouldn't have been cut as much earlier this year, but I thought it made sense at the time. Hindsight is 20:20, haha. It would be better now if they could have made a cut from 2.4 instead of 1.6, (thanks FRED).

I agree with your point that this is a supply shock and this is a case of changing demand, I still think it is the right play. The Fed has the opportunity to act quicker than Congress. Even if they can't solve the problem themselves, this action reduces barriers to do business and will likely make eventual fiscal and health policy more effective.

Good points all around, though. Glad to see economic knowledge on this sight.
[quote=mustardoverlord]snip 2[/quote]
Do you want legislative oversight of the Fed?

If that were the case, important policy maneuvers such as Paul Volcker 's anti-stagflation interest rate hike in the 1980s would never happen as no self-serving congressperson would want the blood on their hands for starting a recession when it really was needed.

Additionally, legislative nannying would cause monetary policy to take on the major problem in fiscal policy - congress takes a long time to get its act together. Even right now, the corona fiscal policy still hasn't been pushed through. Placing congress, comprised of members who do not necessarily have the same financial expertise of the members of the Board of Directors or the Chairmen of regional banks, seems like a bad idea from my point of view.

And one last thing, the rate the Fed targets is the Federal Funds rate, which is the rate that banks should lend to each other at for overnight loans. Loans involving the Fed use something called the Discount rate, which is usually around half a percent higher. It is a really low interest rate loan still, but the banks are also putting up 100% collateral that is also very liquid.

edit: clarified Paul Volcker's actions a bit to make my point clearer
104
#104
36 Frags +

yes but does anyone in the TF2 community suffer from corona ????

yes but does anyone in the TF2 community suffer from corona ????
105
#105
33 Frags +

keep the reddit economics there pls

keep the reddit economics there pls
106
#106
19 Frags +

I work in a restaurant, which obviously has to severely cut down on staffing, menu, and fucking everything else, so I'm probably going to be out of a job for who knows how long. The kicker, though, is that it appears I'm about 2 weeks before the minimum time worked at a job to qualify for unemployment because I only started with them like 3 months ago

Yay

I work in a restaurant, which obviously has to severely cut down on staffing, menu, and fucking everything else, so I'm probably going to be out of a job for who knows how long. The kicker, though, is that it appears I'm about 2 weeks before the minimum time worked at a job to qualify for unemployment because I only started with them like 3 months ago

Yay
107
#107
-3 Frags +
3006yes but does anyone in the TF2 community suffer from corona ????

No we enjoy it.

[quote=3006]yes but does anyone in the TF2 community suffer from corona ????[/quote]
No we enjoy it.
108
#108
4 Frags +

https://www.youtube.com/watch?v=5CiINy3A3LA

https://i.imgur.com/UswB1Ox.gif

https://www.youtube.com/watch?v=5CiINy3A3LA

https://i.imgur.com/UswB1Ox.gif
109
#109
3 Frags +
tsarDo you want legislative oversight of the Fed?

If that were the case, important policy maneuvers such as Paul Volcker 's anti-stagflation interest rate hike in the 1980s would never happen as no self-serving congressperson would want the blood on their hands for starting a recession when it really was needed.

I'm more saying that our national priorities are way out of whack and that we should expect much more relief from Congress (and many more strings attached when they bail out insolvent financial institutions).

I'm not an economist, and you'd probably run circles around me with jargon if we keep talking about this, but suffice it to say that I'm not gonna see eye to eye with someone who sees Paul Volcker's actions as necessary and proportionate, rather than as one of the worst financial policy decisions ever made in this country, whose ramifications have arguably never been fully recovered from on a literal global scale.

[quote=tsar]
Do you want legislative oversight of the Fed?

If that were the case, important policy maneuvers such as Paul Volcker 's anti-stagflation interest rate hike in the 1980s would never happen as no self-serving congressperson would want the blood on their hands for starting a recession when it really was needed.
[/quote]

I'm more saying that our national priorities are way out of whack and that we should expect much more relief from Congress (and many more strings attached when they bail out insolvent financial institutions).

I'm not an economist, and you'd probably run circles around me with jargon if we keep talking about this, but suffice it to say that I'm not gonna see eye to eye with someone who sees Paul Volcker's actions as necessary and proportionate, rather than as one of the worst financial policy decisions ever made in this country, whose ramifications have arguably never been fully recovered from on a literal global scale.
110
#110
4 Frags +

https://images-ext-2.discordapp.net/external/58jxjGRGMZv3FcZjDhI-4qB5J8xbxf1FrXfbH-cFyIY/%3Ftag%3D10/https/video.twimg.com/ext_tw_video/1239864285507072002/pu/vid/1280x720/MEIyH_-SP5rkj0El.mp4

https://images-ext-2.discordapp.net/external/58jxjGRGMZv3FcZjDhI-4qB5J8xbxf1FrXfbH-cFyIY/%3Ftag%3D10/https/video.twimg.com/ext_tw_video/1239864285507072002/pu/vid/1280x720/MEIyH_-SP5rkj0El.mp4
111
#111
3 Frags +
3006yes but does anyone in the TF2 community suffer from corona ????

fantaaddiction has it, he says hes fine

[quote=3006]yes but does anyone in the TF2 community suffer from corona ????[/quote]
fantaaddiction has it, he says hes fine
112
#112
12 Frags +

just got tested, been having sharp pains in my lungs, shortness of breath and some other minor symptoms. doctor thinks I have it but we’ll see. 2-5 days for results. lol can’t China do it in like 15 mins? test wasn’t too bad, long thin swab put deep up into your nose. felt weird but didn’t really hurt, I find it funny how like 2 days ago in this thread I had an exchange with someone claiming that canada wasn’t testing people who haven’t travelled recently. I haven’t travelled or been in contact with a confirmed case and they tested me right away. Classic

just got tested, been having sharp pains in my lungs, shortness of breath and some other minor symptoms. doctor thinks I have it but we’ll see. 2-5 days for results. lol can’t China do it in like 15 mins? test wasn’t too bad, long thin swab put deep up into your nose. felt weird but didn’t really hurt, I find it funny how like 2 days ago in this thread I had an exchange with someone claiming that canada wasn’t testing people who haven’t travelled recently. I haven’t travelled or been in contact with a confirmed case and they tested me right away. Classic
113
#113
1 Frags +

Hope things turn out OK Proto :(

Hope things turn out OK Proto :(
114
#114
40 Frags +

https://cdn.discordapp.com/attachments/583007079527350302/689701356688375828/90292455_2505903336405703_4277343529061056512_o.png

[img]https://cdn.discordapp.com/attachments/583007079527350302/689701356688375828/90292455_2505903336405703_4277343529061056512_o.png[/img]
115
#115
3 Frags +

https://www.theverge.com/2020/3/17/21184308/coronavirus-italy-medical-company-threatens-sue-3d-print-valves-treatments?

REV UP THOSE GUILLOTINES

https://www.theverge.com/2020/3/17/21184308/coronavirus-italy-medical-company-threatens-sue-3d-print-valves-treatments?

REV UP THOSE GUILLOTINES
116
#116
5 Frags +

mood: https://pbs.twimg.com/media/ETYQR0pX0AA0M2h?format=jpg&name=large

mood: https://pbs.twimg.com/media/ETYQR0pX0AA0M2h?format=jpg&name=large
117
#117
0 Frags +

my country is doing pretty well

my country is doing pretty well
118
#118
4 Frags +

THE_BILLDOZER needs your thoughts and prayers my friends https://clips.twitch.tv/CulturedDreamyRhinocerosSuperVinlin

THE_BILLDOZER needs your thoughts and prayers my friends https://clips.twitch.tv/CulturedDreamyRhinocerosSuperVinlin
119
#119
6 Frags +

well I just found out I actually haven't had health insurance since Jan 31st and might no longer be eligible for COBRA, fun times!

well I just found out I actually haven't had health insurance since Jan 31st and might no longer be eligible for COBRA, fun times!
120
#120
5 Frags +

having chest pains and a sticky throat for about a week now which also has been waking me up randomly at night, but it's prob just from stress/cold weather. can't get tested afaik without showing significant symptoms and LA county has given up on containment/skipping some testing at this point so that's fun. store traffic has dropped significantly since the stay at home mandate so i'm probably gonna have to try and wrestle with UI in a week or two depending on circumstances. also my landlord hasn't talked to me in 3 weeks and i'm assuming that they are still expecting my rent in a few weeks even after my next check basically being eviscerated and have probably renewed my room lease without my consent. i love life.

having chest pains and a sticky throat for about a week now which also has been waking me up randomly at night, but it's prob just from stress/cold weather. can't get tested afaik without showing significant symptoms and LA county has given up on containment/skipping some testing at this point so that's fun. store traffic has dropped significantly since the stay at home mandate so i'm probably gonna have to try and wrestle with UI in a week or two depending on circumstances. also my landlord hasn't talked to me in 3 weeks and i'm assuming that they are still expecting my rent in a few weeks even after my next check basically being eviscerated and have probably renewed my room lease without my consent. i love life.
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