Food service?
Rural property and global pandemics
- Thread starter weekender21
- Start date
Had my first cancellation today. Was supposed to start clearing 10 acres of woods for a lady that we have already walked and discussed what is to be done but somehow she thinks me being out on her property in the woods on a dozer will make her less safe even though I told her she could mail me my check. I don’t even have to see her to do the job...going to look another clearing job over tomorrow...
swat1018
Well-Known Member
My County is. All stores closed, exemptions are food and fuel sales, docs, pharmacy, and auto repair. Beginning at 0800 tomorrow.
Merle Hawggard
Well-Known Member
Well, NEA Hawg is in lockdown. We were planning on a day at the farm, but he has to stay at home until the results come back, possibly tomorrow.
It isn't him they're testing, but he will have to be if the person they are testing comes back positive.
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It isn't him they're testing, but he will have to be if the person they are testing comes back positive.
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Hoosierhunting
Well-Known Member
Saw this in an article from Yahoo Finance today:
“The U.S. medical system has about 30 million N95 respirators for medical workers to wear while caring for the sick. One estimate is that the actual need in a worst-case scenario would be 300 million masks. The manufacturer 3M, which makes them, is already increasing its production.
Trump told a group of nurses at the White House Wednesday that the government was buying 500 million N95 respirator masks, but he did not tell them the order had been placed two weeks earlier and will reportedly take a year and a half to be fulfilled.”
At least President Trump is doing the right thing and ordering them. Those masks cost hospitals 0.58 each before all this started. I’m guessing the unit price for the government order is way less than 0.50 a mask. Which means that ordering 500 million to be prepared costs less than two F35 jets. We have over 400 of those jets. Another way to look at is that cost would be 0.7% of FEMA’s annual budget. Yet there’s no stockpile of medical necessities for emergencies. I watched the presser today where they’re talking about GM building ventilators for anticipated shortage. Side note - if that happens I know some Ford guys who would rather die. All jokes aside, as citizens we should seek accountability for the lack of preparedness, and make sure that it never happens again. Personally, I don’t believe in relying on anyone (including the govt) for my well being but if they’re going to spend tax dollars like drunken sailors they could at least spend a very small percentage of that on useful items for emergency preparedness.
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Hoosierhunting
Well-Known Member
Hoosierhunting
Well-Known Member
Yep, couldn’t agree more. While we’re at it though we should also point out that our corporations are just as bad. The six largest airlines spent 96% of their free cash flow on stock buybacks over the last ten years. Boring spent 74% of its free cash flow on stock buybacks.....and of course they’re all demanding/begging to be bailed out now by the taxpayers. They’ll reset the basis for their stock options and the C-level mgmt will get enriched again just like 2008-2009. Privatized gains and socialized losses....crony capitalism.
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MarkDarvin
Well-Known Member
National preparedness has no lobbyist. That's why it's a joke. Same went for the vulnerabilities that enabled 9/11 and the wild west of mortgage lending and CDOs. Not only does the right thing not have a lobbyist, there are massive amounts of money spent to ensure moral hazard runs wild in the country, which makes events like this especially painful.
Hoosierhunting
Well-Known Member
Wholly agree Mark, and it’s probably quaint and pissing in the ocean but I wrote both my senators and my congresswoman letting them know that the bailouts for poorly managed companies without strings was destroying capitalism. With your mortgage-CDO example which caused the last great financial debacle in this country, I find the explanation never goes far enough. Some Americans followed it, or watched the movie The Big Short and understand that Wall Street was getting rich bundling mortgages (among other financial products like car loans) into CDO’s. The ratings agencies had a conflict of interest getting paid to rate them, mortgage originators knew the mortgage would be bundled and sold within days of origination so they allowed falsified mortgage apps. The industry came out with Nina and ninja mortgages so applicants didn’t need any documentation and could just overstate income with no verification. So everyone kind of understands that everyone was getting rich on these bundled mortgages and looking the other way at the quality of them. The real culprit is never mentioned though. Why was there such an enormous market for these CDO’s? The real culprit was the Greenspan run federal reserve who had taken interest rates to unprecedented low levels in the wake of the dot com stock market correction. These unnaturally low interest rates meant that traditional areas of yield treasuries/bond market were gone. That’s incredibly important because insurers, portions of pensions etc are restricted in what they can invest in. They’re by law required to invest in “safe” assets but they needed the yields that historically could be found in treasuries and the bond market. When those yields went away, where could they find similar returns on a “safe” product they were legally allowed to invest in? Why CDO’s of course. The real reason the market imploded was the artificially low interest rates set by the federal reserve. The FED was the real culprit then. The same artificially low rates that are still in place mean we have a stock market bubble which is causing extra grief now that the air is getting let out of the bubble. It also meant that companies like Boeing could borrow huge amounts of money almost interest free to buy back their shares with. So not only did they spend their profits on buybacks, they took on huge debt loads of almost free money to buy back shares, because short term share price is how mgmt bonuses are paid. All because of FED policy. The FED has robbed savers, distorted markets, created financial crises, and driven income inequality. It should be the most hated institution in this country.
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Mennoniteman
Well-Known Member
Grocery stores are packed. Restaurants allowed to sell takeout only.
Mennoniteman
Well-Known Member
and if they wear the GM ventilators they will probably die anyway. (I couldn't resist the urge for a little humor in these difficult times)
MarkDarvin
Well-Known Member
You could trace a major portion of the housing collapse back to US senator Jim Jeffords. He was talked into leaving the GOP in May of 2001, which flipped the senate from republican control to democrat. 4 months later 9/11 happened. Jeffords' switch put Tom Daschle in charge and he single handedly delayed economic stimulus until spring of 2002. Due to the lack of fiscal policy response, the recovery was placed square on the shoulders of Greenspan, and he got to work slashing interest rates and setting off the bonanza in housing inflation/dollar devaluation.
Nobody got rich off the housing boom. It's not like anyone could sell their house and buy two more exactly like it with the profits. It was all inflation.
Hoosierhunting
Well-Known Member
The FED has a dual mandate, stable prices (ie inflation) and full employment. Though now they’re the defenders of equity markets levels. The stock market had recovered to pre 9-11, levels one month after the attack. I don’t think that Greenspan needed to do anything. He thought he wore a cape and could eliminate the business cycle, trading recession frequency for severity. Recessions are a normal part of the business cycle. Economic stimulus and fiscal policy responses are politicians feeble attempts to control a market and maintain their elected positions of power. Bailouts, the FED put, etc all lead to the moral hazard you discussed earlier. Give me Volcker any day over that idiot Greenspan and his successors.
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Buckly
Well-Known Member
It’s been mentioned in a couple places. I think From the UK. Maybe Trump about another test that can tell if you have been exposed to the virus in the past. So many people just taking care at home and self treating, or those that didn’t even know they had it. If these tests pan out then that will be a game changer. Once enough people are proved to be infected they can return to the workforce. Business can start up and people don’t have to worry about infecting family. There could be millions all ready infected that are now immune Anyone know about these?
Hoosierhunting
Well-Known Member
From my understanding, when your immune system defeats an infection, corona virus or the common flu it produces antibodies. The US has already developed a test for the covid 19 antibodies. Which will show anyone who has been infected with it. There are still a lot of questions about the specific covid 19 antibodies right now though. The Chinese have seen patients get reinfected with covid-19 shortly after recovering from it. Typically, the antibodies would provide immunity for a certain period of time, say 12 months or more for other Coronavirus strains. In the case of covid-19, that seems to not be the case.
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dogghr
Well-Known Member
That’s not entirely true. I sold 2 properties for twice their value when bought Jst 5 years earlier at the time and sold before the crash then buying stressed property. And my farm was bought in the middle of the crash at half what was going rate. It since has doubled in 10 years w land prices returning to pre crash prices. The real estate agent nearly had a coronary but they were struggling w cash flow as they bought up land thinking economy would never tank.
Also invested n a stock that had dropped from 500/ share to 1$. Within the year it had recovered to 21. Not good for previous investors but dang good for me. But it also was a risk as it could’ve gone belly up and my money tank.
Sometimes you have to have really big balls to survive these drama times. It will be unfairly tough on many of us.
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Buckly
Well-Known Member
The experts seem to agree that there is at least short term ( 1 -3 ) years of immunity. Maybe lifetime. I think this brings 2 points to the table. First, with any testing there is going to be a percentage of false positives and negatives and could explain the suspected reinfection. Second, can we believe any thing that is said out of China at this point. We really don’t know yet. It will be the US and other European Countries my guess is to get better data out of this.
Hoosierhunting
Well-Known Member
I agree, with not trusting China. Typically though they mislead to try to save face. Like underreporting the spread, severity, etc. That’s why this thing scared me from the beginning and I said the same thing, it would take it spreading outside of China for us to know the real mortality rate. China’s words (mortality rate lower than common flu) and their actions (quarantine huge swaths of population crippling their economy) didn’t match up. China saying reinfection is possible doesn’t serve that face saving purpose so thought it might be valid. Bad testing results could definitely explain it. Also sounds like the severity of infection might determine whether or not you develop immunity. They found that with MERS, which had a much smaller footprint and also killed 35% of the people that were infected by it. Those that recovered from severe cases showed antibodies after two years and those that recovered from less severe cases didn’t or showed significantly less. It’d be interesting to know if the mortality rate in China is what was reported or if it ran closer to the 9% Italy is experiencing.
We’ve got the best and brightest working on this and we’ve pulled thru a lot worse in this country so we’ll be fine. Especially now that people understand it’s important to follow the directions of the experts at the CDC, NIH etc to slow the spread so the health care system can provide services to everyone who needs them.
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Buckly
Well-Known Member
Here in NY it’s the epicenter so it’s a bit different here but , as I’m listening to the Governor today. He’s acknowledging that the death rate and hospitalizations are going to be much lower than anticipated. He’s already coming up with a plan to get younger and healthier back to work. He’s coming to the realization the risk is lower and needs the economy to get going. That’s about as positive as I’ve heard him to date.
