Coronavirus

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NBA just suspended the season and Tom Hanks has coronavirus.
 
As smart as you guys are as investors, you do realize most banks who provide mortgages can call immediate payment of notes.

I assume you are both ready to pay principle & interest balance if you have a mortgage and they call that note. Or you have cleared all your debt.

Just askin as I am sure that everyone who is giving investment advice has zeroed out their debt, has a lot of cash reserves and have factored having all of their loans or debt (credit cards) being called into their planning.
Wow. If there is one thing I'm not worried about it's this ^^^^. Back to reality, does anyone envision many good financial reports coming out for most companies in the near future. Oh boy the way NBA just suspended their season and the US banned travel to/from Europe. Unfortunately the blood bath is going to get much worse.
 
bwoods in post #400 - My point is - you can't bitch about Hunter Biden making money in Russia and then give a pass to ANY Trump family member doing the same. That's the book definition of hypocrisy. I don't want ANY U.S. citizen doing business with a COMMUNIST country that in any way helps their economy. Dem or Repub. When I hear anyone whining about the "threat" posed by Cuba as many politicians have done - a pimple on the ass of the world in terms of military threats - and then turn around and support business with a COMMUNIST country like Russia or China - well I'm sorry ……...…… that is simply STUPID. Russia and China ARE military threats in the world, and Russia was just intercepted at our northern air space border by Norad and Canadian fighter jets. Our intelligence agencies have been reporting that Russia is planning a territorial grab in the Arctic. But we CAN'T believe our CIA, NSA, FBI, or any of the other U.S. intelligence agencies ……………… so says Trump. We need to believe in his "stable genius" on military and world affairs - and his "I know more than our generals ……. BELIEVE ME." comments. - - - - - - Just think about that for a minute. A man who's been living most of his life in - literally - gold-plated penthouse bubbles has more military knowledge than our military men & women who've spent their lives studying and LIVING the military life.

You are a TRUSTING man, bwoods. \

I have a question for you ..... why is it when a Dem is in the White House the Repubs are always spouting warnings about "the Communist threats" - but since Trump's been in there, he's all cozy with Putin, Xi, and exchanging "love letters" (Trumps words!) with Kim Jung Un???? He's believed Putin's commentaries and condemned our own U.S. National Security agencies. That's NOT how Reagan, or the Bush's acted toward those same countries. If a Dem president was doing and acting like Trump has been, you'd be throwing up blood …..... and you damn-well know it. That's called being a hypocrite.

Just how stupid do you think everyone is?? X=X Wrong for one side is wrong for the other as well.

Wooduck - You're correct. This is a totally new strain of corona virus. No history with it in the medical community - UNLIKE the "regular" flu's which have been around for years and we have vaccines for. This is uncharted territory and the top people in the microbial science world are worried. But it's much ado about "nothing" to some. There are only a few states left that don't have cases in them. I'm waiting to see how long the laughing lasts. God bless those who are affected.


Nothing like Obama and Cuba? Wow...
 
Wow. If there is one thing I'm not worried about it's this ^^^^. Back to reality, does anyone envision many good financial reports coming out for most companies in the near future. Oh boy the way NBA just suspended their season and the US banned travel to/from Europe. Unfortunately the blood bath is going to get much worse.

yeah I think today is one of those days where everyone hopefully realizes this isn’t a joke anymore and it’s time to get serious about it regardless of if we were or not before. It’s going to get worse before it gets better. We all need to take the steps we can to do our part and slow down this spread.
 
yeah I think today is one of those days where everyone hopefully realizes this isn’t a joke anymore and it’s time to get serious about it regardless of if we were or not before. It’s going to get worse before it gets better. We all need to take the steps we can to do our part and slow down this spread.
Again with the joke. Who ever thought this was a joke? The rest of your post is sound advice. I started not shaking hands yesterday. Very awkward, I had a job interview and we both just kind of stared at each other. I know lots of companies and people that will be working from home or over the phone until further notice. Cases will be in the thousands but we can squash this if everyone does their part.
 
I know one thing... I'm done sharing Q-tips with people for a while!

On a serious note, I do take precautions to minimize the spread of various bugs. Lots of things you can do to put people at less risk. One small example is that I never use water bottles with my teams (kids end up sharing even when told not to). I give them single use cone shaped cups that you can't sit down. Drink and trash. No contamination.

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Wow. If there is one thing I'm not worried about it's this ^^^^. Back to reality, does anyone envision many good financial reports coming out for most companies in the near future. Oh boy the way NBA just suspended their season and the US banned travel to/from Europe. Unfortunately the blood bath is going to get much worse.

yeah I think today is one of those days where everyone hopefully realizes this isn’t a joke anymore and it’s time to get serious about it regardless of if we were or not before. It’s going to get worse before it gets better. We all need to take the steps we can to do our part and slow down this spread.

If this moves to a pandemic stage, the impact to trade, commerce, and the financial markets will be significant. Many business' are currently at risk which means many jobs are at risk.

My point was that banks can insert "call" clauses into loans. Creditors, including credit card companies, can get orders to freeze your bank accounts if they are concerned about your ability to pay. Making sure you understand what contracts for loans or lines of credit you have would be prudent. If you loose your job or don't get that raise or year end bonus because companies revenues & profits are down, plan for it.

My "reality" is being debt free, have investments that are steady stable and somewhat conservative. Having strong cash reserves so that we can ride out economic downturns like this.
 
Swat1018 in post #464 - If you re-read my post, I said politicians - ALL of them. If ANY politician - D or R or I - thinks Cuba is a bigger threat to us than Russia or China …….........… well …...………. I'd say they need glasses.

Since the WHO has declared corona virus to be a global pandemic, events are being cancelled of all sorts and in all locations, businesses telling workers to work from home if possible, layoffs have started, travel has ground to a halt for the most part. Does this STILL seem like a lie now?? Maybe if everyone had listened to the REAL EXPERTS of the health community, and not made irrational assumptions & statements, we wouldn't be where we are now. People whose very life professions are to study viruses and other microbes were called "alarmists" and "scare mongers." Some of my own friends and hunting camp members thought this corona virus was all hype over nothing. Maybe this will teach ALL of us to listen to the REAL EXPERTS and not make our own assumptions. I have my doubts on that one.

At any rate ....... I sincerely hope none of us who post or lurk on this forum is affected by this corona virus - either in person or for any of our loved ones. We can debate politics until they throw dirt over our box - but I hope we all follow the advice of the experts and try our best to weather this storm. Many of us on here - myself included - are in the older age brackets more susceptible to corona's effects. PLEASE do what you can to stay safe. Look out for your older relatives and protect them from outside exposures. People can transmit this virus without showing symptoms, so if one has it - it may not show symptoms until many other people have been infected by a carrier of it. Younger folks can most likely recover from it in good shape, but if you're over 50, you may be in for a rough ride - or your last one.

God bless ALL on here - and I hope we all come through this safely.
 
Bowsnbucks:

DISCLAIMER: I'M NOT A SCIENTIST OR A DOCTOR

Has anyone under 80 been affected? they said the NBA'er who had it last night was healthy enough to play. It's the flu, right? It can be bad, but just for people with no immune system, at least thus far. you're word on 50 years old is by far the lowest age i've heard anywhere that it'd be a problem.

And "younger people" ARE recovering from it, pretty nonchalantly too.

You have good advice here. I'm just saying, wording it like you did, points to an agenda. Heck the CDC said "people over 60 with health issues" are the ones who should prepare.

It's the same as the other guy earlier here insinuating that "the banks are going to call your mortgage." Sure his words weren't exactly that, but the nature of what was said got that point across.

When people sense your agenda, they're far more willing to write even your good stuff off because of the agenda.

Am I the only one who sees this?
 
I’m piling into my 401K as fast as I can!!!

I’ve got 29.5 years until I can draw it, so a few months of losses only mean better buying prices for me!
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I'd have the cash ready at hand but wait until after this thing peaks before throwing it in. Below 20,000 for sure.

As smart as you guys are as investors, you do realize most banks who provide mortgages can call immediate payment of notes.

I assume you are both ready to pay principle & interest balance if you have a mortgage and they call that note. Or you have cleared all your debt.

Just askin as I am sure that everyone who is giving investment advice has zeroed out their debt, has a lot of cash reserves and have factored having all of their loans or debt (credit cards) being called into their planning.

Cleared all debt minus the mortgage and about 8-10 months left on the truck, almost done with a full 6 month all expenditures savings account, and a big ‘ol fat 401K with enough stable investments in it to draw from if desperate, and our mortgage does NOT include an acceleration clause... so our lender can’t require instant payment.

Thank goodness for Dave Ramsey making us have our ducks in a row. It’s been 6 years of “rice and beans, beans and rice” to get here!


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Maybe use some of the death row inmates for initial testing? Let's get some use out of them anyway.
 
If Tom Hanks would have stayed on the island with Wilson he would be fine! Wilssssonn! All kidding aside, this is serious, but the reaction is still overreaction. But hey whatever, no games with fans, no big gatherings, cancel events...I guess it is probably the right thing to do. Sad to see our great country so fearful.
 
Maybe use some of the death row inmates for initial testing? Let's get some use out of them anyway.

They should be executed as soon as the gavel strikes.
 
Cleared all debt minus the mortgage and about 8-10 months left on the truck, almost done with a full 6 month all expenditures savings account, and a big ‘ol fat 401K with enough stable investments in it to draw from if desperate, and our mortgage does NOT include an acceleration clause... so our lender can’t require instant payment.

Thank goodness for Dave Ramsey making us have our ducks in a row. It’s been 6 years of “rice and beans, beans and rice” to get here!


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Good stuff man. Congrats. We did his class the first year of being married. Best thing we did. It put us on the same page and we have a game plan. One of the reasons I can be on this website with enough land to do some habitat work on my own dirt. Keep working the plan.
 
We ALL have a 100% chance of death. Go live your lives.

I told my wife that before I left on a 10 day mission trip to Iraq last year. She thought i wasn't taking it seriously enough. But hey, I'm still here, she's still here, my life insurance is up to date... :D
 
It's the same as the other guy earlier here insinuating that "the banks are going to call your mortgage." Sure his words weren't exactly that, but the nature of what was said got that point across.

When people sense your agenda, they're far more willing to write even your good stuff off because of the agenda.

Am I the only one who sees this?

Go read what I said and don't put words in my mouth. I didn't say they will. I said it is important to understand any loan document you sign and the risk you take. As Ikeman said above ^^^^ acceleration clauses are real.

Right now the average credit card debt is ~9k and average car loan length is 67 months. Their are people who have pulled all of their equity out of their home and good chance they are upside down in their mortgage. Not a good recipe to ride out an economic downturn.

If you have committed to the Dave Ramsey process, good for you as you are far ahead of many.
 
Go read what I said and don't put words in my mouth. I didn't say they will. I said it is important to understand any loan document you sign and the risk you take. As Ikeman said above ^^^^ acceleration clauses are real.

Right now the average credit card debt is ~9k and average car loan length is 67 months. Their are people who have pulled all of their equity out of their home and good chance they are upside down in their mortgage. Not a good recipe to ride out an economic downturn.

If you have committed to the Dave Ramsey process, good for you as you are far ahead of many.

As stated above, I said how you *disclaimered* your post, but the essence of it was to be scared of your bank. No one's loans are being called. But the vibe/agenda you put out was that it may, or probably will. That's what i'm saying, people discount the good things said, because such an agenda is being pushed in other places. No need to be a tuff guy
 
Does this STILL seem like a lie now?? .

Maybe I missed something Bows. Who has ever claimed it was a lie?

This is a GREAT thread! Still amazingly civil....though starting to get testier and little more snarky and divisive. I can imagine Bill at home with his finger on the "LOCK" button kind of just monitoring and giving us all room to vent but keeping a close watch. :emoji_thumbsup:
 
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