jrober38

True, but the banks are levered up as well. If they have to start writing off massive loans to oil producers it'll be really bad for them.

Masks aren't being used to primarily prevent the wearer from getting COVID-19, their primary use is to prevent the wearer from infecting other people.

Yeah, it seems extremely likely that some hedge funds and ETFs are going to go bust because of the collapse in oil. A week ago when production was cut, I imagine there were a lot of people on wall street who took big long positions in oil futures, and they were likely wiped out yesterday. Oil companies hold a ton of debt, and without a recovery in oil prices, those companies will likely go bust by the end of the year and it could create a type of contagion in the banking industry as the people who get caught holding that debt receive pennies on the dollar.

Nope. I just find it hilarious that people expect socialist bailouts when they're investment in capitalist enterprises go sour.

More like 70 cents.

All that talk about Alberta separating after Trudeau was reelected, I'd have no problem with that happening now.

Most airlines hedge their fuel costs so there's likely no benefit short term. Until they start filling planes with passengers again they're screwed.

They were generous and let us apply for the first two periods at the same time. Direct deposited in my account within 48 hours.

Maple syrup.

A few things. 1. Companies aren't ready to store oil. It's trading in negative territory because the world storage capacity has been reached. 2. The manufacturing industry is going to be hit hard when all the people who work in oil and gas are laid off.

Yup. Got my $4000 emergency relief payment in 2 days.

I doubt Trump shows up for today's press conference.

Some hedge funds will be going out of business tonight. Some people's savings will have just been wiped out.

The economy collapses, people lose their houses, struggle to put food on the table, etc.

I think "the rest of the world" is hyperbole. Maybe people living in squalor in Central America, but certainly not the whole world.

Why? The world has hit its capacity in terms of how much oil they can store. Unless everyone turns off the taps, this is just going to continue getting worse. They are literally paying people to take oil off their hands.

The US has been one of the hardest hit countries in the world because their social programs are so horrible compared to the rest of the developed world. This is what you get when you have a government that's more interested in corporate bailouts and corporate tax rate cuts than they are about protecting their citizens.

Capitalism works until it doesn't.

Texas just went out business. So much for the deal Trump touted a week ago between Saudi Arabia and Russia. What a colossal disaster.

Anyone seen the price of oil? Holy crap. Texas just went out of business.

I can't. One side says stay home for another 4-8 weeks and numerous lives will be saved. The other wants to put lives in danger because they're bored. Once people are dead they're dead. This is literally life and death for a lot of people, like yourself.

Again, we've been told to do this for 6 weeks now. People are still dying. Nursing homes still being decimated by the virus all over the country. These are great ideas if every single person practices them, which will absolutely never happen.

Ummmmm, we've been taking precautions to protect the most susceptible for 6 weeks now and people are still dying. Nursing homes are still getting decimated by this virus.

These people are children. Being asked to stay home in 2020, with internet, tv, netflix and widespread delivery food options doesn't sound like a bad gig if it means we can safely open things up in a month or so. I have no sympathy for any of these people if they get sick. Their behaviour is on par with what I see from my 4 year old son everyday when he doesn't get what he wants.

Various laws are designed to stop people from harming other people. This is one of those situations. By going on with your life as you want it to, more people will die than is necessary. Social distancing works. Going back to work will result in the unnecessary loss of life. Things will probably begin reopening in a month or so. The idiots protesting in large groups during a pandemic put that timeline in jeopardy.