Market Meltdown

[Bombadil]

I remember today is the closing day of 05. If speculators don't sell futures today, they may have to actually buy a few ships of oil.
Unfortunately, oil is not milk. You can't dump them. You have to have a warehouse

I mean.. if they're paying I'll take some, I'm sure oil will rise again.

[Shanghai industrial complex]

I remember today is the closing day of 05. If speculators don't sell futures today, they may have to actually buy a few ships of oil.
Unfortunately, oil is not milk. You can't dump them. You have to have a warehouse

I mean.. if they're paying I'll take some, I'm sure oil will rise again.

The 05 futures contract has been settled. You have to look at 06.Futures are more complicated than stocks

[UniversalCommons]

The problem is one of short term thinking. Yes, in the short term it will damage the economy. There may be some long term benefits which are not immediately obvious.
1) More people will learn how to work from home and be equipped to work from home.
2) There will be an excuse to automate more of industry so less people will be needed to do many things. This automation may not have happened under normal circumstances.
3) There is also the development of software and AI to deal with customer service which was not happening because of social and cultural processes.
4) Many of the technology companies like Amazon, Apple, Google, and other companies with longer term strategies are hiring the people which are now available and would not have been available if the economy was in better shape. The companies with longer term strategies will come out of this time with leaner more technically oriented competitive companies.
5) It will accelerate the switch away from oil as it increasingly becomes devalued and OPEC and other companies fight to survive. This will allow some of the green companies to move ahead once the virus is over.

[Bombadil]

The problem is one of short term thinking. Yes, in the short term it will damage the economy. There may be some long term benefits which are not immediately obvious.
1) More people will learn how to work from home and be equipped to work from home.
2) There will be an excuse to automate more of industry so less people will be needed to do many things. This automation may not have happened under normal circumstances.
3) There is also the development of software and AI to deal with customer service which was not happening because of social and cultural processes.
4) Many of the technology companies like Amazon, Apple, Google, and other companies with longer term strategies are hiring the people which are now available and would not have been available if the economy was in better shape. The companies with longer term strategies will come out of this time with leaner more technically oriented competitive companies.
5) It will accelerate the switch away from oil as it increasingly becomes devalued and OPEC and other companies fight to survive. This will allow some of the green companies to move ahead once the virus is over.

I've oddly picked up some contract work, it's based out of SG whereas I live in HK but in selecting me there was an argument about the fact I wasn't in SG so couldn't sit in their office but then someone pointed out that 'hasn't this virus proven you don't need to work in office?'

Cheers Covid..

[UniversalCommons]

I had another one of those enlightening experiences. I went to Target to buy a Web Camera and they were sold out. I also went to P.C. Richards to buy a Web Camera. I had to buy it online and there was a weeks wait for my web camera. It reminds me of the discussion about the post office. If the cost goes up for the post office, my profits go down if I try to sell something from home. If you cannot get equipment to work from home easily and there is no post office or a disabled post office in the United States how can you work from home. I see almost no incentives for people to set up home based businesses. This would be the time for it.