no they just have too many billions of dollars, it's uncouth
― silby, Friday, 24 April 2020 20:45 (four years ago) link
also the library isn't open to the public, preposterous
Harvard has an endowment fund of $41 billion, the largest in the world, and larger than the GDP of roughly half the nations on earth.
― A is for (Aimless), Friday, 24 April 2020 21:15 (four years ago) link
Ban Harvard. They’re the Yankees of universities
― Joey Corona (Euler), Friday, 24 April 2020 21:15 (four years ago) link
nationalize all universities, make application solely meritocratic and level off tuition at 10k per year flatten the curve imo
― Fuck the NRA (ulysses), Friday, 24 April 2020 21:55 (four years ago) link
make education more bureaucratic and white!
― sarahell, Friday, 24 April 2020 23:33 (four years ago) link
Like considering the current federal government, do you really want universities nationalized? Really?
― sarahell, Friday, 24 April 2020 23:36 (four years ago) link
I'd clarify "nationalize" as "state/locally mediated," stipulate preferential placement through affirmative action and make college a student opt-in right / continuation of public school in general; turn old malls and prisons into colleges.next let's discuss my thoughts on gun control.
― Fuck the NRA (ulysses), Saturday, 25 April 2020 01:10 (four years ago) link
If you're talking about nationalization, the current federal government isn't really a consideration.
― Greta Van Show Feets BB (milo z), Saturday, 25 April 2020 01:14 (four years ago) link
also having an endowment is v. nice but it's not like they're sitting on $41B in cash. much of that money is legally restricted to certain very specific purposes (that prop up our excellent current political/economic system, but hey)
― mookieproof, Saturday, 25 April 2020 02:45 (four years ago) link
it's not like they're sitting on $41B in cash
yup. there's equities, bonds, REITs, silent partnerships, and a wide variety of other negotiable assets, some of which are comparatively illiquid. I doubt they could raise more than, say, $10 billion in cash if they only had a couple of weeks of lead time to lay their hands on that much.
― A is for (Aimless), Saturday, 25 April 2020 03:17 (four years ago) link
lol i'm curious just how many non-governmental institutions on earth could raise $10B in cash in two weeks
― mookieproof, Saturday, 25 April 2020 03:42 (four years ago) link
Welcome to Apple University
― Fuck the NRA (ulysses), Saturday, 25 April 2020 03:43 (four years ago) link
Boeing planning layoffs, expects air travel to take 2 to 3 years to return to 2019 levels
https://www.seattletimes.com/business/boeing-aerospace/boeing-loses-641-million-in-first-quarter-announces-job-and-production-cuts/
― silby, Thursday, 30 April 2020 00:38 (four years ago) link
That sounds about right to me.
― DJI, Thursday, 30 April 2020 00:52 (four years ago) link
(I don’t think business air travel will return to 2019 levels)
― silby, Thursday, 30 April 2020 00:56 (four years ago) link
This morning somebody one one of the jibber-jabber shows said that air travel was likely to become much more expensive in the future, and I was thinking, "Are you sure you know how capitalism works? Airlines are gonna be fucking desperate to fill seats for probably half a decade - this time next year, you're gonna be able to get a plane ticket to California free with a delivery from Papa John's."
― but also fuck you (unperson), Thursday, 30 April 2020 00:58 (four years ago) link
well they will run fewer flights presumably, supply can be constrained
― longtime caller, first time listener (man alive), Thursday, 30 April 2020 03:16 (four years ago) link
Fewer flights and fewer seats on the flights one would presume
― COVID and the Gang (jim in vancouver), Thursday, 30 April 2020 03:17 (four years ago) link
and fewer stroopwaffle, fuck
― Morton Koopa Jr. Sings Elvis (Sufjan Grafton), Thursday, 30 April 2020 03:22 (four years ago) link
*stroopwafel, fuck
stroopwafels rule
― Joey Corona (Euler), Thursday, 30 April 2020 08:21 (four years ago) link
This time next year, no-one is going to want to sit shoulder to shoulder with strangers even not counting the recycled air. If the seating limit drops to 20% of what it is currently, and the costs stay the same, it's hard to see how that works except for government subsidies and/or prices going way back up.
― Andrew Farrell, Thursday, 30 April 2020 10:34 (four years ago) link
I would definitely fly again given either (a) a vaccine or (b) a positive antibody test result.
― o. nate, Thursday, 30 April 2020 20:48 (four years ago) link
Time to start laying more train tracks.
― Greta Van Show Feets BB (milo z), Thursday, 30 April 2020 20:53 (four years ago) link
Or just throw a couple of passenger cars on the end of freight trains, no service you have to bring your own food and water.
― Greta Van Show Feets BB (milo z), Thursday, 30 April 2020 20:54 (four years ago) link
Taking a cruel pleasure in yahoo finance comments like "Time to load up on cruise ship stocks, they haven't been this cheap in years!" Yup folks, expired milk on sale!
― longtime caller, first time listener (man alive), Thursday, April 9, 2020 1:10 PM (three weeks ago) bookmarkflaglink
not a good metaphor tbh, unless you believe no one will ever go on cruise ships ever again.
― sarahell, Thursday, April 9, 2020 1:13 PM (three weeks ago) bookmarkflaglink
https://www.businessinsider.com/norweigan-cruise-lines-warns-of-substantial-doubt-continue-operating-business-2020-5?fbclid=IwAR3ZLvANP49VMRWu30ewWsAkJjnYLWeSz6clogvBV6DNhk9kKGGWjYW4JHc
― longtime caller, first time listener (man alive), Wednesday, 6 May 2020 02:40 (four years ago) link
I've bad news about the current state of meat processing
― mh, Wednesday, 6 May 2020 03:08 (four years ago) link
•Tyson plant in Perry had 730 positive cases, which represents 58% of the employees tested
•The Tyson plant in Waterloo had 444 positive cases, which represents 17% of the employees tested
•Iowa Premium National beef in Tama had identified 258 positive cases, which represents 39% of the employees tested
•The Tyson plant in Columbus Junction identified 221 positive cases, which represents 26% of the employees tested
•TPI Composites in Newton had 131 positive cases, which represents 13% of its employees tested
not going to run the numbers or quibble about "employees tested" but something like an average 25% of meatpacking employees in what is apparently the largest region for that business are out. there are a lot of reasons, including hiring recent immigrants packed into tight housing, responsible beyond the actual plant conditions
undoubtedly meatpacking robots are the proposed solution
― mh, Wednesday, 6 May 2020 03:12 (four years ago) link
They’ve already put limits on fresh meat per customer at my local Safeway; this was like a couple weeks ago.
― El Tomboto, Wednesday, 6 May 2020 04:14 (four years ago) link
Restrictions here too
― Mario Meatwagon (Moodles), Wednesday, 6 May 2020 04:17 (four years ago) link
Feeling like tomorrow is a good day to just go buy a bunch of steaks and chicken cutlets from my locals
― El Tomboto, Wednesday, 6 May 2020 04:35 (four years ago) link
I can hit four grocery stores in walking distance pretty easily
― El Tomboto, Wednesday, 6 May 2020 04:36 (four years ago) link
Time to live like my ancestors, on boiled potatoes and hatred
― Greta Van Show Feets BB (milo z), Wednesday, 6 May 2020 04:36 (four years ago) link
the boiling might take some work though
― El Tomboto, Wednesday, 6 May 2020 04:39 (four years ago) link
There's a place called Fabulous Meat City in the next town over. Might go see just how fabulous this weekend.
― but also fuck you (unperson), Wednesday, 6 May 2020 12:45 (four years ago) link
stock up on tofu and seitan imo
― trapped out the barndo (crüt), Wednesday, 6 May 2020 13:05 (four years ago) link
Seems like a good time to have just ordered what I initially thought was massively too much chicken and hanger steak from a restaurant distributor that started selling to consumers. Scheduled to arrive today.
― longtime caller, first time listener (man alive), Wednesday, 6 May 2020 13:12 (four years ago) link
Related: full size freezers have been sold out everywhere since March.
― speaking moistly (Sanpaku), Wednesday, 6 May 2020 13:32 (four years ago) link
This Axios piece is bizarre, and kinda gross, and can't possibly be an accurate reflection of reality:
The coronavirus-driven gold rushHaving been conditioned for years by financial pundits to see the next recession as their opportunity to get rich after largely missing out on 11 years of a surging bull market, young people are viewing the coronavirus-driven stock market crash as their golden ticket.What's happening: Thanks to zero fees, easy access afforded by the internet, and an unexpected glut of free time on their hands, millennials and Gen Zers are opening online brokerage accounts at a record pace.Finance apps have seen a 55% growth in usage time from the end of 2019 to the week ended April 18, according to new data from App Annie.TD Ameritrade reported a record 608,000 new funded accounts in the first quarter and more than three times the number of users in March compared to March 2019.Brokerages like Schwab, Fidelity and E*Trade also reported record new users."The way we can see that a lot of these people are newer to investing is because they are accessing our educational resources at a rate that is three to four times what we’d normally see," Steven Quirk, EVP of trading and education at TD Ameritrade, tells Axios."And the courses they’re accessing are explainer video series about investing principles, investing basics, 'How do I buy a stock?'""Our investing courses are laid out as a journey and a lot of them are hitting the ones that are the first part of the journey."Driving the news: Despite two separate embarrassing outages on critical trading days this year that could have sunk its business, millennial-focused trading app Robinhood has seen its valuation rise to $8.3 billion, while investing platform Stash got a new $112 million infusion that took its valuation to $800 million.Yes, but: In their thirst for a piece of the expected market rebound, these new investors may be ignoring the economic reality of the moment.The Fed, IMF and an army of the world's foremost economists predict the recession will be long lasting and many companies are expected to go bankrupt or dissolve entirely over the next year.The last word: Those who have used their new accounts to buy the dip since late March have done quite well.But if equity prices don't continue to defy gravity, the downturn could destroy already fragile savings gains for millennials who have largely been priced out of home ownership and are just starting to build wealth, wreaking further havoc on the broader economy.
Having been conditioned for years by financial pundits to see the next recession as their opportunity to get rich after largely missing out on 11 years of a surging bull market, young people are viewing the coronavirus-driven stock market crash as their golden ticket.
What's happening: Thanks to zero fees, easy access afforded by the internet, and an unexpected glut of free time on their hands, millennials and Gen Zers are opening online brokerage accounts at a record pace.
Finance apps have seen a 55% growth in usage time from the end of 2019 to the week ended April 18, according to new data from App Annie.
TD Ameritrade reported a record 608,000 new funded accounts in the first quarter and more than three times the number of users in March compared to March 2019.
Brokerages like Schwab, Fidelity and E*Trade also reported record new users.
"The way we can see that a lot of these people are newer to investing is because they are accessing our educational resources at a rate that is three to four times what we’d normally see," Steven Quirk, EVP of trading and education at TD Ameritrade, tells Axios.
"And the courses they’re accessing are explainer video series about investing principles, investing basics, 'How do I buy a stock?'"
"Our investing courses are laid out as a journey and a lot of them are hitting the ones that are the first part of the journey."
Driving the news: Despite two separate embarrassing outages on critical trading days this year that could have sunk its business, millennial-focused trading app Robinhood has seen its valuation rise to $8.3 billion, while investing platform Stash got a new $112 million infusion that took its valuation to $800 million.
Yes, but: In their thirst for a piece of the expected market rebound, these new investors may be ignoring the economic reality of the moment.
The Fed, IMF and an army of the world's foremost economists predict the recession will be long lasting and many companies are expected to go bankrupt or dissolve entirely over the next year.
The last word: Those who have used their new accounts to buy the dip since late March have done quite well.
But if equity prices don't continue to defy gravity, the downturn could destroy already fragile savings gains for millennials who have largely been priced out of home ownership and are just starting to build wealth, wreaking further havoc on the broader economy.
― but also fuck you (unperson), Wednesday, 6 May 2020 20:52 (four years ago) link
Makes total sense to me. If you have excess income and can ride it out for 10 years...Also, explains why the stock market itself doesn't reflect reality right now.
― Nhex, Wednesday, 6 May 2020 21:38 (four years ago) link
i know a few people who are kinda doing what that is saying; trying not to judge
― Fuck the NRA (ulysses), Wednesday, 6 May 2020 23:26 (four years ago) link
Yeah, that's fair, I think. Personally I still fear that the under-counted and upcoming deaths will have a real effect that is being ignored, no matter how detached from reality the Dow might be.
― Nhex, Thursday, 7 May 2020 00:18 (four years ago) link
― El Tomboto, Thursday, 7 May 2020 05:09 (four years ago) link
U.S. Unemployment Rate Hits 14.7%, Worst Since Great Depression
A Devastating 20.5 Million Jobs Were Lost in April
stocks are up, though!
― mookieproof, Friday, 8 May 2020 16:24 (four years ago) link
"stocks up on hopes of coronavirus treatment"
there's always some headline like that on my stocks app, accompanying news of massive unemployment
― let me be your friend on the other end! (Karl Malone), Friday, 8 May 2020 16:28 (four years ago) link
Why can't they just come out and say "Stocks up on news that an increasingly desperate American population will have to work for whatever pittance their employers choose"
― Guayaquil (eephus!), Friday, 8 May 2020 16:52 (four years ago) link
you know this but: the stock market is not a perfect image viewed in a mirror of present economic reality. it's the sum of peoples' perceptions from billions of such mirrors, some of which are magic fortunetelling mirrors existing only in peoples' minds and many which are badly distorted funhouse mirrors. people can also just ignore or misinterpret what they see in the mirror. some people looking at these mirrors can't see at all. you are only trying to guess what people perceive on average and how they will respond to it.
― Morton Koopa Jr. Sings Elvis (Sufjan Grafton), Friday, 8 May 2020 16:55 (four years ago) link
stocks up on fed printing money that is only going to big businesses and so Trump can get re-elected and we need to kick as many people off of unemployment as possible. Also, If you are dead you cannot be unemployed at the same time.
― Yerac, Friday, 8 May 2020 16:56 (four years ago) link
The stock thing continues to baffle me, despite clear explanations in this thread--I'm still operating in a parallel universe. My fund is one good week from being back to par, and then I'm going to try to get out of it (hoping I don't get talked back into it, and wary of what it'll cost to extricate myself--I seem to recall him assuring me it was as easy as could be but knowing that's never true).
― clemenza, Friday, 8 May 2020 16:56 (four years ago) link