Life disrupted... thanks to Covid-19

Discussion in 'The OT' started by Mark Holtz, Mar 14, 2020.

  1. Mar 16, 2020 #41 of 104
    billsharpe

    billsharpe Hall Of Fame

    3,095
    142
    Jan 25, 2007
    Southern...
    I did an inventory of our TP yesterday. We have 20 rolls on hand left from a big package from Costco purchased in January. Why the run on bottled water surprises me. Our tap water is still drinkable. Grocery store was out of bananas, among other things, when we did our regular shopping last Friday. Crowded and long check-out lines but not a real problem. We're both in our late 80's, so staying home as much as possible.
     
    Rich likes this.
  2. Mar 16, 2020 #42 of 104
    phrelin

    phrelin Hall Of Fame DBSTalk Club

    15,432
    428
    Jan 18, 2007
    Northern...
    Speaking of Life disrupted... thanks to Covid-19 we briefly discussed off-topic the stock market in the original thread.

    Recently, I've had to offer via phone and social media some angst reducing words about history to our kids and some of their friends.

    As an aside, I can moan and groan about the fact that were I omniscient and had I sold everything in our portfolio in mid-February our net worth would be about $20 grand higher. [​IMG] But I'm not telling that to the kids. After all I wasn't omniscient in 2001 nor in 2007 which is part of the history I explain.

    [​IMG]

    Today the market indices were down around 30% from the highs of mid-February.

    Obviously one must compare this to the worst-case-scenario stock market crash of 1929 which was a collapse of stock prices that began on Oct. 24, 1929 and by Oct. 29, 1920, the Dow Jones Industrial Average had dropped 24.8%. The slide then continued until July 8, 1932, reaching an 89 percent loss. By then, of course, the world was in The Great Depression, which set the tone of my parents lives.

    Since I retired in May 2001 our IRA's and regular brokerage account went through the 2001-02 and 2007-09 recession periods.

    In the first one as of September 24, 2002, the Dow Jones Industrial Average had lost 27% of the value it held on January 1, 2001.

    In the second one the DJIA hit a market low on March 6, 2009, having lost over 54% of its value since the October 9, 2007 high.

    The 2007-09 "bear market" began a climb on March 9, 2009, as the DJIA rebounded more than 20% from its low after a three weeks of gains. After March 9, the S&P 500 was up 30% by mid May and over 60% by the end of the year.

    However, along with the bursting of the United States housing bubble in 2005–2006, that 2007-09 "bear market"precipitated The Great Recession, the most severe economic and financial meltdown since The Great Depression and it is often regarded as the second-worst downturn of all time.

    Much as The Great Depression set the tone of my parents' lives, The Great Recession unfortunately has set the tone of the economic lives of the Millennial Generation.

    I have no idea when the COVID-19 Infected Bear Market will end. Given the economic disruption in the U.S. and around the world, we know that the impact will extend into our consumer economy driven by consumer spending as a percent of its gross domestic product (as opposed to the other major components of GDP inclding gross private domestic investment, government spending, and imports netted against exports).

    It's hard to imagine after the pandemic slows down we won't have a recession of duration measured at least in months. But given what happened in the period of 2009-2019, it is hard to predict what the stock market will do.

    Some try to look further back. But unless the virus mutates, one simply cannot compare this pandemic to the Black Death of 1347–1352 and 1918 Spanish Flu Pandemic, both of which were associated with significant numbers of deaths of workers.

    All this leads me to tell others suffering angst over the stock market: "We have had market crashes and economic disruption before and recovered. All you can do is watch these new historical events unfold and gather memories so you can tell the future generations how you survived."
     
  3. Mar 16, 2020 #43 of 104
    SamC

    SamC Hall Of Fame

    2,395
    149
    Jan 20, 2003
    I have several friends that work at the warehouse level of the food industry, including one who works for one of the two top restaurant supply companies (US Foods) and another who works for the nation’s largest grocer (Kroger) and both say that they have as much food and non-food items in the system as they always have and have not, nor do they anticipate, missed any shipments of anything. The CEOs of Kroger, Wal-Mart, CVS, Walgreen’s, and Publix all said the same thing.

    Panic buying, particularly of toilet paper, is simply idiocy. Public water supplies are more than adequate, will not be shut down, and in the VERY unlikely event that any one place (say some town has a part they cannot replace in a pump or something) FEMA has millions of gallons of bottled water. Panic buying of bottled water is likewise simply idiocy.

    Everyone should always have a couple weeks worth of staples on hand, including toilet paper. Everyone needs to calm down.
     
    TheRatPatrol likes this.
  4. Mar 17, 2020 #44 of 104
    AZ.

    AZ. Legend

    319
    50
    Mar 27, 2011
    South of Flagstaff. Yavapia county
     
  5. Mar 17, 2020 #45 of 104
    jimmie57

    jimmie57 Hall Of Fame

    9,868
    805
    Jun 26, 2010
    Texas City, TX
    For the crowded, long lines at checkout, I shifted to going to the store at about 8 am on Sunday morning. For me this cut the crowd and lines to about half of what they are during the week.
     
  6. Mar 17, 2020 #46 of 104
    jimmie57

    jimmie57 Hall Of Fame

    9,868
    805
    Jun 26, 2010
    Texas City, TX
    A lot of people panic on a drop in the market and sell everything. My sister is one of those.
    If you sell while the market is low then have truly lost that money. And, when you decide to get back into it, it will probably be higher than it was when you got out because of your fear. Which makes you lose twice.

    I had sold 3/4 of my stocks in November thinking the market was going to roll over for awhile. Never dreamed of anything like this happening.
    I am buying a few shares every couple of days and averaging my cost per shares down. It will probably take months to start seeing a recovery and during this time with the more and more shares that I have my losses ( on paper ) will be bad.

    Good health and good luck to everyone.
     
  7. Mar 17, 2020 #47 of 104
    lparsons21

    lparsons21 Hall Of Fame

    5,171
    539
    Mar 4, 2006
    Herrin, IL
    The bad part of the stock market is for the older folks. Time is not on their side for a recovery. This is not a new thing, it has always been that way. Sadly the recoveries alway seem much slower that the downturns.
     
    AZ. likes this.
  8. Mar 17, 2020 #48 of 104
    jimmie57

    jimmie57 Hall Of Fame

    9,868
    805
    Jun 26, 2010
    Texas City, TX
    Gender: Male
    Birthday: Aug 28, 1943 (Age: 76)
    Location: Texas City, TX
     
  9. Mar 17, 2020 #49 of 104
    dmspen

    dmspen Hall Of Fame

    1,803
    74
    Dec 1, 2006
    Los Gatos,...
    As we all know, California has been ordered to stay inside, 'sheltering in place'. I had already started working from home on Monday. Looks like a 3 week vacation...uh, staycation. Wife and I made 2 trips to the grocery store and stocked up on stuff so we don't have to go out very often. There was no bread in the stores, no TP, but produce was full. We didn't hoard, just bought regular amounts of food for 2 weeks. We have TP left from our last Costco run. Certainly not going there!

    Just read about a government relief package to cover small businesses, airlines, etc, AND America citizens! The government is going to send us our money back! We'll see what this truly means.
    I feel I'm in a post apocalyptic movie. The back of my house looks over a relatively busy street. It's basically empty. Going outside is eerie. The usual noises from gardeners, streets, etc are missing. I'm sorry I'm not allowed to go to work. I bet the commute is terrific!
     
    phrelin likes this.
  10. Mar 17, 2020 #50 of 104
    compnurd

    compnurd Hall Of Fame

    3,322
    494
    Apr 23, 2007
    Evans City PA
    Not all of California. Only the Bay Area is under a full Shelter in place
     
  11. Mar 17, 2020 #51 of 104
    Rich

    Rich DBSTalk Club DBSTalk Club

    35,496
    1,872
    Feb 22, 2007
    Piscataway, NJ
    My son was at our doctor's office yesterday and told him what we went thru. The doctor said we "probably" had it. And it can recur...oh, goody.

    Rich
     
  12. Mar 17, 2020 #52 of 104
    lparsons21

    lparsons21 Hall Of Fame

    5,171
    539
    Mar 4, 2006
    Herrin, IL
    I know that was no fun to go through. As to recurring, well the jury’s still out on that from what I’ve read.
     
  13. Mar 17, 2020 #53 of 104
    Rich

    Rich DBSTalk Club DBSTalk Club

    35,496
    1,872
    Feb 22, 2007
    Piscataway, NJ
    I really can't describe it. I felt like I had fallen into a pit of pain and agony...and it just stopped. I hope the jury comes in with a favorable verdict.

    Rich
     
  14. Mar 17, 2020 #54 of 104
    lparsons21

    lparsons21 Hall Of Fame

    5,171
    539
    Mar 4, 2006
    Herrin, IL
    I never thought I’d see the day I would use the web to order home delivery for groceries. It sure isn’t handy in many ways, to use the website, but it does work and the process was fine.l

    The store charges for the service, but I figure it is worth it to just not have to go to the store as it is mostly a madhouse!
     
  15. Mar 17, 2020 #55 of 104
    lparsons21

    lparsons21 Hall Of Fame

    5,171
    539
    Mar 4, 2006
    Herrin, IL
    This is not going good. No meats still, no sugar, no flour, no yeast. The ‘shopper’ is having substitute where she can. Looks like I’ll get less than half of what I ordered.

    Glad I didn’t go to store, I’d be so pissed by now!!
     
  16. Mar 17, 2020 #56 of 104
    billsharpe

    billsharpe Hall Of Fame

    3,095
    142
    Jan 25, 2007
    Southern...
    We found everything on our shopping list except bananas last Friday morning. The store still didn't have any bananas Monday morning. A neighbor called us while at the store and asked if we wanted anything. He found milk and cold cuts for us but no bananas. I have one left and will eat it tomorrow on my cereal.
     
  17. Mar 17, 2020 #57 of 104
    lparsons21

    lparsons21 Hall Of Fame

    5,171
    539
    Mar 4, 2006
    Herrin, IL
    I forgot about bananas. But the local grocer hasn’t had any for quite a few days. Plenty of apples, oranges and ‘cuties’ though, as well as all sorts of grapes.
     
  18. Mar 17, 2020 #58 of 104
    Mark Holtz

    Mark Holtz New Texan

    11,058
    182
    Mar 23, 2002
    Richardson,...
    I quite lucked out. I had liquidated almost all of my acquired stock from my employer except for a set of shares that had to wait because they did not qualify for long term gains last July when they were near a multi-year high. After I sold, they dropped. A good chunk of the gains went into my house principal, a small chunk was deposited with the IRS, and some went into home improvements. I still have a good chunk because I have to have at least 1% of the house value as the insurance deductible, plus some emergency cash stash. So, I'm in good shape.
     
    jimmie57 likes this.
  19. Mar 17, 2020 #59 of 104
    TheRatPatrol

    TheRatPatrol Hall Of Fame

    8,386
    636
    Oct 1, 2003
    Phoenix, AZ
    I just heard that some schools will be closed for the rest of the year. WOW!
     
  20. Mar 17, 2020 #60 of 104
    scooper

    scooper Hall Of Fame

    6,999
    156
    Apr 22, 2002
    Kansas City KS
    Happening here in Kansas - I'm not sure what they're going to do about the more rural districts outside the "major" cities...
     

Share This Page

spam firewall