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Started By
Message
2
Posted on 4/26/20 at 11:18 am to NIH
quote:and you're surprised by this? They will defend the bastard regardless.
I posted a thread critiquing Trump’s response thus far and was met with hundreds of downvoted and plenty of “cuck” and vote for Joe comments. It’s odd.
This post was edited on 4/26/20 at 11:23 am
Posted on 4/26/20 at 11:20 am to CapperVin
quote:
Can’t wait to see how the Trumpkins spin this
What is there to spin?
It's not surprising that tds filled tards cant understand the option
Posted on 4/26/20 at 11:27 am to SDVTiger
It is funny how they always reply in these threads, but never actually address the topic. Only OMB.
Posted on 4/26/20 at 11:28 am to Janky
Cappervin is just as terrible (if not worse) as Sao and TT9
Posted on 4/26/20 at 11:31 am to SDVTiger
quote:I’m as far from being a “tds” individual as can be. I’m just real. This is a shitty option no matter who you support and if trump goes through with this I’m going to be extremely disappointed
It's not surprising that tds filled tards cant understand the option
Posted on 4/26/20 at 11:33 am to RedRifle
Many fail to understand the underlying risk.
The energy market is a small component of the S&P. However, it is a very large component of the high yield bond market. Consider who holds that paper.
If energy companies fail, they default on their debt. The subsequent ripple through the financial world would be significant. Banks are exposed. Pensions hold bonds. Retirement accounts hold bonds. There is very little yield anywhere in the world with federal fund rates and treasury bonds so low. If you have an annuity, you may hold energy debt and not even know.
US production is about to lose ~3M bpd of oil. No one was cash flow positive at $50 wti and now they are hemorrhaging money even worse. Before COVID, in round numbers, US refined 17M bpd. Production peeked November '19 at 12.89M bpd. Exports hover around 3M bpd and imports near 6M bpd. Despite headlines, the US is not energy independent. 1/3 of all the oil we refine is imported. If we lose this much production as companies shut-in and restructure, there is a big hole when demand comes back.
Only two major projects came into service in the world recently, Johan Sverdrup and XOM Guyana. The world is rapidly heading for an energy shortage.
This same risk is happening in the real estate investment trusts. When restaurants and stores can't make rent, the landlords are exposed. They owe the banks because they've used their property as collateral for more property.
In 2008, the government took warrants in bank stock. That might be the playbook for how they are going to try and support these companies.
There's jokes online about risking lives because people want to go eat at Applebee's. These people fail to understand that in the worst case scenario, we're talkin about the failure of the entire Western Financial system. It almost happened in 2008.
The energy market is a small component of the S&P. However, it is a very large component of the high yield bond market. Consider who holds that paper.
If energy companies fail, they default on their debt. The subsequent ripple through the financial world would be significant. Banks are exposed. Pensions hold bonds. Retirement accounts hold bonds. There is very little yield anywhere in the world with federal fund rates and treasury bonds so low. If you have an annuity, you may hold energy debt and not even know.
US production is about to lose ~3M bpd of oil. No one was cash flow positive at $50 wti and now they are hemorrhaging money even worse. Before COVID, in round numbers, US refined 17M bpd. Production peeked November '19 at 12.89M bpd. Exports hover around 3M bpd and imports near 6M bpd. Despite headlines, the US is not energy independent. 1/3 of all the oil we refine is imported. If we lose this much production as companies shut-in and restructure, there is a big hole when demand comes back.
Only two major projects came into service in the world recently, Johan Sverdrup and XOM Guyana. The world is rapidly heading for an energy shortage.
This same risk is happening in the real estate investment trusts. When restaurants and stores can't make rent, the landlords are exposed. They owe the banks because they've used their property as collateral for more property.
In 2008, the government took warrants in bank stock. That might be the playbook for how they are going to try and support these companies.
There's jokes online about risking lives because people want to go eat at Applebee's. These people fail to understand that in the worst case scenario, we're talkin about the failure of the entire Western Financial system. It almost happened in 2008.
Posted on 4/26/20 at 11:35 am to timdallinger
mUh TrUcK nUtS
Posted on 4/26/20 at 11:36 am to kciDAtaE
quote:I’m sorry does the president/congress/senate run a business or a government?
No one is forcing this. If you want a handout, we own part of you. That’s basic business.
Posted on 4/26/20 at 11:37 am to CapperVin
quote:
Can’t wait to see how the Trumpkins spin this
Can't wait to see the Socialists backtrack on this..
Posted on 4/26/20 at 11:38 am to RedRifle
Government overreach is ok if the politician has an R next to their name.
Posted on 4/26/20 at 11:41 am to RogerTheShrubber
quote:the fact that both statements are correct is the exact issue with politics in America today. But nobody wants to talk about that
Can’t wait to see how the Trumpkins spin this
Can't wait to see the Socialists backtrack on this..
Posted on 4/26/20 at 11:43 am to Pedro
quote:
the fact that both statements are correct is the exact issue with politics in America today
Pretty much.
Trump and his followers aren't exactly conservative though. But issues like this show who actually have principles.
Posted on 4/26/20 at 11:59 am to RedRifle
(no message)
This post was edited on 2/1/21 at 12:04 pm
Posted on 4/26/20 at 12:52 pm to RedRifle
If they want Our Money, we should get a stake with dividends.
Otherwise go through bankruptcy just like the rest of us Blue/white collar and small business schlubs
Otherwise go through bankruptcy just like the rest of us Blue/white collar and small business schlubs
Posted on 4/26/20 at 2:08 pm to LoneStarRanger
quote:
If they want Our Money, we should get a stake with dividends. Otherwise go through bankruptcy just like the rest of us Blue/white collar and small business schlubs
You’re missing the point, even when times were decent these companies weren’t profitable. Let them go by the wayside.....prices will stabilize a lot quicker with these companies not drilling unprofitable oil.
Posted on 4/26/20 at 3:00 pm to TJG210
And most importantly this is literally fricking socialism
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