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With the stock market plunging. . .

Luvtoride

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I would like to see credit card interest rates decrease, as a result of this poor economy. I would like to see them lower the rates from 22% to about 5% for people who owe money and cannot get caught up. This isn't a position I am in, but I see it as a major roadblock for many low-middle income people.
As "nice" a gesture as that is, it just won't happen. I believe the only relief that some of these companies may provide is elimination of late payment charges and some interest charges to those who can't pay their bills due to financial hardship of losing jobs and income during this time.
 

Fredflintstone

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As "nice" a gesture as that is, it just won't happen. I believe the only relief that some of these companies may provide is elimination of late payment charges and some interest charges to those who can't pay their bills due to financial hardship of losing jobs and income during this time.
I agree. The profit on the interest rate is too large to give up.

I can certainly see why some think the unemployment numbers are concerning. It was 3.2 million in just one week. Sadly, this will end up being a domino effect as this dragged on. Our economy is so interdependent. If one fails, many suffer like the suppliers and those servicing the failed business. I know new industries will come to the rescue somewhat like delivery services. I think Walmart and Amazon are hiring now. However, those jobs are low paying and dead end.


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davidvel

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These past three days may be a dead cat bounce, only time will tell, but 20-30% up from Mondays close in some sectors is welcome. I just sold two holdings near the high for the day to sell into the rally....still well below B/E on both, so I will look to buy back in lower on the next sell off....or shift into something else. You have to be nimble in this, and that's easier said than done.
When you say breakeven are you talking from the top of the market (DOW 30K), or what you bought in for? I can't imagine you bought all (or much of) your stock in February.
 

Ken555

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The stock market, previously described as a "twitching corpse" is showing some signs of life in the past couple of days


View attachment 18420
My opinion is that it will take another giant hit when the reality of 100,000 deaths in the US is realized. But of course, the market is based on perception so I could be wrong.


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Chrispee

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My opinion is that it will take another giant hit when the reality of 100,000 deaths in the US is realized. But of course, the market is based on perception so I could be wrong.
I agree wholeheartedly. When the US starts seeing the healthcare system overwhelmed and people dying due to lack of equipment and capacity the markets will take another plunge. That spike in deaths should be short-lived, but it's coming.
 

geekette

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My opinion is that it will take another giant hit when the reality of 100,000 deaths in the US is realized. But of course, the market is based on perception so I could be wrong.
I agree with you completely. The market runs on fear and greed. The fear will be enormous as reality continues to unfold.

While I of course wish no one harm, there will be big wigs at massive companies impacted in that giant number. That will double whammy perception of that company and others.
 
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