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Coronavirus | COVID-19 | Global Pandemic | PLEASE KEEP DISCUSSION TO THIS THREAD

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3 hours ago, Killimano3 said:

Wait... oil is worth -40$ a barrel... what??!

 

3 hours ago, Fullbuster said:

I never thought I'd ever see negative oil prices in my life, even in just 1 country! It's absolutely fascinating!

 

Now the question is...will US shale oil recover? US shale drilling was a loss-making sector already after all.

 

53 minutes ago, charlie Jatinder said:

Wtf negative rate. If only govt had passed the benefit to consumer. For few months may be.

Actual oil rate is not negative, neither in the rest of the world nor in USA either. Brent Crude is still trading in the 20’s I think. 
 

What did go negative was the oil price for May futures contract. When you buy a futures contract for a commodity like oil, you enter into a contract to buy oil at an agreed upon price at a future date. You can technically hold the contract till expiry and then pick up the actual commodity. However most if not all don't do this. The contracts gets traded based on price action. 
 

What is happening with May oil contracts is that the day for expiry and thus delivery is coming close. With supply not lessening and demand having plummeted, there is an excess of oil and not enough space to store it. And you cant exactly temporarily close down wells, it costs a lot to close down and then reopen. Now those holding May contracts for oil will suddenly have lots of actual oil that they need to pick up when the contracts expire. They don’t exactly deliver it to you nor can a person afford nor have the delivery and storage. With the big players also having their hands full of oil they don't wanna buy it either. But that oil which you now own has to go somewhere, the production company that produced the oil don't wanna hold it for you. It costs them money and they don't have much storage either. This can lead to the contract holders getting sued. So the contract holders are now panicking and selling it off as quickly as possible and at whatever price that they can get. Even selling it at -30 or -40 per bbl (which effectively means that they will be paying the buyer money to take it off their hands rather than the buyer paying them in a normal scenario) is better for them than holding the contracts till expiry. 
 

June contracts are still positive and I believe somewhere in the 20’s Which shows that investors are still somewhat confident that things will go back to normal by June and Oil demand will increase. If situation remains like this for long however you will see a similar thing happening with June contracts also. 
 

PS - I am not an expert so excuse if I made any mistake. 

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I bet Jared put a lot of effort into this list of labs. 
 

 

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Quote

RIGHT NOW

President Trump said on Twitter that he would sign an executive order temporarily suspending immigration to the United States, describing it as an effort to protect Americans’ jobs.

Welp

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Posted (edited)
6 minutes ago, Killimano3 said:

Welp

Its a bit silly...

 

Think it makes more sense to reduce immigration especially in fields that have no demand for jobs. 

 

 

 

Edited by Lordmandeep

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12 minutes ago, Killimano3 said:

Welp

Who is he kidding with this? Currently immigration to the US is stopped since the past month and a bit. All US Consulates have been closed since the first week of March and probably won't open till June or July. So Trump saying he will sign an executive order to stop immigration temporarily is him saying he will continue status quo for the amount of time they were planning it anyway.

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10 minutes ago, grim22 said:

Who is he kidding with this? Currently immigration to the US is stopped since the past month and a bit. All US Consulates have been closed since the first week of March and probably won't open till June or July. So Trump saying he will sign an executive order to stop immigration temporarily is him saying he will continue status quo for the amount of time they were planning it anyway.

 

 

Its dog whistling to his base and to the right.

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Posted (edited)

I moved the post to the appropriate thread.

 

Edited by doublejack
moved post to a different thread

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Posted (edited)
34 minutes ago, Killimano3 said:

Welp

 

Well, he's getting squeamish about playing the Blame China card (see below), so stirring up nativist feelings is one of the few cards he has left.

 

(Well, I mean, he could try to act competantly or at least get off the stage; but given Trump's priors, it's one of the few cards he has)

 

===

 

BTW, what I was referring to:

 

 

Trump has a... complicated dance with Xi Jinping and China in general.  On the one hand he sees China as a useful target domestically for all sorts of things, including trade wars.  On the other hand, even he's realized how ruinous trade wars are and he really doesn't want to re-ignite that fight.  Plus, he might actually like Xi on some level.

 

So, complicated.  He might care about the trade deal more than playing a Blame China card for COVID-19.  It's why my ears perked up with his "Well, if it was a mistake" comment last week when he was fishing about that lab conspiracy theory (which is exactly what it is).  It's not exactly the type a thing someone chomping at the bit to make China Public Enemy Number One would do.

 

Doesn't mean Trump won't try to make China the Enemy.  Dude is famously mercurial even in the best of times.

 

But I am not at all surprised to see this immigration halt if he has decided he wants to do something other than antagonize China this week.

Edited by Porthos
forgot a word. Derp
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5 minutes ago, Lordmandeep said:

 

 

Its dog whistling to his base and to the right.

I expect nothing of any substance in whatever executive order he signs. The most substance will definitely be his tweet from today which he probably whipped up without telling anyone and now the legal team will have to put something together that has no meaningful effect because anything with a meaningful effect will be challenged asap in court.

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14 minutes ago, grim22 said:

Who is he kidding with this? Currently immigration to the US is stopped since the past month and a bit. All US Consulates have been closed since the first week of March and probably won't open till June or July. So Trump saying he will sign an executive order to stop immigration temporarily is him saying he will continue status quo for the amount of time they were planning it anyway.

I would also kinda actually wait to see 1) the Executive Order he actually signs says and 2) what he does to actually enforce it.

 

I mentioned in my last post that Trump is famously mercurial.  He's also famous for saying he will do something and then not doing it or doing it haphazardly.  I am curious to see what if any loopholes are actually in this.  Like, take the China Travel Ban.  That had a loophole one could drive several Mack Trucks through, which made it... Well, not as effective as he likes to claim.

 

Aside from that this is totally trying to play to the populist right, no doubt about it.  This has Stephen Miller's fingerprints all over it.

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Posted (edited)
31 minutes ago, grim22 said:

Who is he kidding with this? Currently immigration to the US is stopped since the past month and a bit. All US Consulates have been closed since the first week of March and probably won't open till June or July. So Trump saying he will sign an executive order to stop immigration temporarily is him saying he will continue status quo for the amount of time they were planning it anyway.

That was my first reflex, to ask myself how much immigration are still getting in processed around the world right now,

 

In Canada outside seasonal agriculture worker new immigrants are barred for now, I would imagine that would be the common case worlwide (they are still accepting application but no one is coming in).

 

https://newcanadianmedia.ca/canada-may-miss-immigration-target-for-2020/

 Right now our borders are closed to most non-Canadians or permanent residents. Immigration applications are still being processed but new immigrants, students and temporary workers are barred for now, with the exception of seasonal agricultural workers.
 

I do not think many made a show out of it on twitter.

Edited by Barnack
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Posted (edited)

 

8 minutes ago, Barnack said:

That was my first reflex, to ask myself how much immigration are still getting in processed around the world right now,

 

In Canada outside seasonal agriculture worker new immigrants are barred for now, I would imagine that would be the common case worlwide (they are still accepting application but no one is coming in).

 

https://newcanadianmedia.ca/canada-may-miss-immigration-target-for-2020/

 Right now our borders are closed to most non-Canadians or permanent residents. Immigration applications are still being processed but new immigrants, students and temporary workers are barred for now, with the exception of seasonal agricultural workers.

 

 

Well the funny thing is Canada has more stricter rules around Foreigners then America does right now actually. 

 

USA does not have a blanket ban on all foreigners unlike Canada yet.

 

https://www.nytimes.com/article/coronavirus-travel-restrictions.html

 

 

There are a lot of people who have work and travel visa who entered Canada who either went back to their homeland or another country on Vacation and cant come to Canada either right now. 

 

Edited by Lordmandeep

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36 minutes ago, grim22 said:

Who is he kidding with this? Currently immigration to the US is stopped since the past month and a bit. All US Consulates have been closed since the first week of March and probably won't open till June or July. So Trump saying he will sign an executive order to stop immigration temporarily is him saying he will continue status quo for the amount of time they were planning it anyway.

It means he was feeling a tremor in his base so he has to do something to remind them why they voted for him in the 1st place. 

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Trump has signed an executive order ordering the Earth to continue rotating. 
 

The sun will rise tomorrow. 
 

Rejoice!

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NSW Health have followed up with 2000 confirmed cases to see how people are going. 
 

NSW Health can now confirm the number of people in NSW who have recovered  from COVID-19. That figure as at 8pm Monday 20 April is 1,755.

To find out how long it takes people infected with COVID-19 to recover, NSW Health staff have begun contacting all cases at three weeks after their illness to ask them about their COVID-19 symptoms.

Cases whose symptoms have resolved are asked to report the date this occurred. Cases who still have symptoms are called every two weeks until symptoms have resolved.

A preliminary analysis on information collected from over 2,000 case interviews showed:

 

  • 50 per cent of cases had recovered after 16 days
  • 75 per cent of cases had recovered after 3 weeks
  • 95 per cent of cases had recovered after 6 weeks.

 

Older people were found to take longer to recover than younger people. These data will be updated as more cases are interviewed.

There are currently 249 COVID-19 cases being treated by NSW Health.  This  includes 21 people being treated in Intensive Care Units, with 17 of those requiring ventilators. Of the 249, 194 are being treated through Hospital in the Home or out-of- hospital care.

 

 

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