Study finds 42% of pandemic layoffs will become permanent job losses

Sunday, May 17, 2020

We are witnessing a massive shift in the economy in a very short period of time. The dislocations for people, particularly people of limited means, have been and will continue to be profound. (From The Washington Examiner) Forty-two percent of workers experiencing recent layoffs will suffer permanent job losses, according to a paper circulated by the National Bureau of Economic Research.

Source: Study finds 42% of pandemic layoffs will become permanent job losses

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As the Big Fat Old Turkey, I’ve always warned 50+ jobseekers that their BIGGEST fear would NEVER being able to find another job.  AT ALL!  Let alone on comparable to the one that they lost.

I’d be willing to bet that the impact on the 50+ unemployed will be much worse that anyone expects.

Hope I’m wrong, BUT I don’t think so.

😢

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TECHNOLOGY: Bought a new EUFY P1 scale

Saturday, May 16, 2020

Since I moved from New Hampshire I never unpacked a lot of stuff. One of which was my Aria scale. Since I shifted from FITBIT to an APPLE WATCH 4, it’s obsolete for my purposes.

The EUFY scale has it’s own app. The install and start up procedure was somewhat easy. Only had to do it twice. It didn’t connect via bluetooth the first time.

Now it’s working. We’ll see if it helps.

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This is how Bali escaped being virus hot spot with local traditions – travel – Hindustan Times

Friday, May 15, 2020

Officials tapped the influential village committees and Hindu beliefs to ensure residents stayed at home and no outside visitors were permitted to avoid wider infections after a British tourist with Covid-19 was the first in Bali to succumb to the virus in early March. People were also asked to perform certain Hindu rituals for protection, which mandated them to obey local leaders, according to Governor Koster.

Source: This is how Bali escaped being virus hot spot with local traditions – travel – Hindustan Times

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Well, good for them.

I am a bit concerned anytime “We, The Sheeple” are “mandated to obey local leaders”.

We were all give “free will” and need to use it responsibly.  Sometimes that even means “obeying local leaders”.

SOMETIMES!

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Raven-Symone reveals she hasn’t spent ANY of her Cosby Show money | Daily Mail Online

Thursday, May 14, 2020

Raven-Symone has not spent any of her Cosby Show money after getting her big break on the series over 30 years ago.

The actress, 34, was just four-years-old years old when she began playing Olivia Kendall on the hit series from 1989 to 1992, and has been sitting on all that money ever since.

Source: Raven-Symone reveals she hasn’t spent ANY of her Cosby Show money | Daily Mail Online

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Now that’s good financial planning!

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Lockdown-flouting speakeasies popping up throughout Manhattan

Wednesday, May 13, 2020

Speak-easies are back in New York. And not the tourist traps that have been filling perfectly good storage space in the backs of bodegas, pizzerias and pet stores across Williamsburg for a decade — but actual illicit drinking dens.

Source: Lockdown-flouting speakeasies popping up throughout Manhattan

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Makes me laugh!

Can’t keep drugs out of prison, but expect people to refrain from bars?

Just more Gooferment stupidity!

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HEALTH: Public restrooms as vector for the WuFlu?

Wednesday, May 13, 2020

How bathroom design will change after COVID-19

https://www.fastcompany.com/90502942/we-may-have-to-rethink-the-toilet-seat-altogether-how-coronavirus-could-change-bathrooms-for-the-better

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Yuck. Stay out of rest rooms lest you rest in peace!

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FINANCIAL: Traders get wiped by a software bug!

Tuesday, May 12, 2020

*** begin quote ***

Negative oil price triggers trading software bug, wipes out traders
 
For the non-professional trader, dabbling in futures or FX contracts is generally a recipe for financial ruin.  There’s so much leverage in those contracts that it doesn’t take much of a move against your position to get wiped out.  When the underlying commodity does something weird, like say, flash crashing or something weirder (see below), all bets are off.  The situation is exacerbated if the trading desk software isn’t equipped to handle such an unprecedented move.
 
Bloomberg reports the tale of Toronto-based Syed Shah, who normally trades stocks and currencies on his Interactive Brokers account.  On April 20, Shah picked the absolute wrong day to try his hand at trading oil futures. That’s the day oil went negative for the first time in history, at one point printing a negative $37/barrel handle.
 
Shah waded into what he thought was an unsustainable discount on oil: spending $2,400 from his account on futures contracts at $3.30/barrel, $0.50/barrel, culminating in a tranche at the unbelievable price of one penny a barrel.  Except not only did oil fall to 0.01/barrel, it kept going, below zero, negative and further negative – only Shah, and all of the other traders on Interactive Brokers system didn’t know that, because the platform wasn’t coded to handle negative oil prices. None of them knew the contracts they were buying were actually costing them money the further oil went below zero.
 
When the end-of-day settlement notices went out, Shah, who started the day out with a balance of $77,000 in his account, now owed the house $9,000,000.
 
Interactive Brokers has since acknowledged the negative price exposed bugs in their own system, and IB will be making all traders affected whole out of their own book.  It’s estimated that will cost the brokerage around $113,000,000.
 
Read: https://www.bloomberg.com/news/articles/2020-05-08/oil-crash-busted-a-broker-s-computers-and-inflicted-huge-losses
 
Charles Hugh Smith, Jesse Hirsh and I discussed this type of unprecedented signal distortion in our first AxisOfEasy Salon, available here.

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That’s a horror story.

This “casino” is NOT for the faint of heart!

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GOVEROTRAGEOUS: Kvetching about the Pepuls Republik of Nu Jerzee’s MVC

Tuesday, May 12, 2020

2020-May-12

I use the online renewal for my car registrations’ renewals here in the Pepuls Republik of Nu Jerzee!

Bear in mind the NJ MVC has all my car related information and my drivers’ license data.

The app should remember me, my cars, and policy numbers and only force me to enter the data if it’s changed.

I do wonder what they do with the insurance company id and policy numbers?

Also annoying is that the printed renewal should use a larger font for us old folks and the visually impaired.

Since I have no choice in vendors of this “service”, I can’t comparison shop or influence them to “fix” my issues with their design.

Typical of the Gooferment versus a truly free market.

Funny that the supposedly “free market” — which isn’t “free”! — never send me stuff that’s hard to read.  Wonder why?  Competition!

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Researchers uncover MORE evidence that smokers may be protected from the deadly coronavirus | Daily Mail Online

Monday, May 11, 2020

Of 441 hospitalised COVID-19 patients in the study, 5% were active smokers But rates are 24% in the Italian population, suggesting some sort of protection However, more smokers succumbed to the disease – half of smokers compared to 35% of non-smokersIt comes after a UCL review of 28 studies, including from Europe, which found smokers were less common than expected among COVID-19 patients Governments suggest quitting the habit for precaution despite lack of evidence

Source: Researchers uncover MORE evidence that smokers may be protected from the deadly coronavirus | Daily Mail Online

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More anecdotal evidence that the experts don’t understand this pandemic?

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HEALTH: What Is the Optimal Vitamin C Intake? | NutritionFacts.org

Sunday, May 10, 2020

But, wait, can you get up to an intake of 200 milligrams a day without taking supplements? No problem. Single servings of fruits and vegetables may have about 50 milligrams each; so, a measly five servings of fruits and veggies a day could get you to ideal blood levels.

Source: What Is the Optimal Vitamin C Intake? | NutritionFacts.org

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Five servings of fruits or vegetables is the RDA!

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