General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAnybody listening to Bill Ackman on CNBC? Noon hour
Calling for a 30 day shutdown of the economy, says hotels and airlines are going bankrupt. Cited numerous examples of countries who have successfully shut down the growth rate of the virus - China, S. Korea. Says capitalism cannot survive a quarter, let alone 18 months, of businesses with no revenue, no cash flow. Needs a vaccine. Says he's buying stocks because they will recover on the other side of the shutdown and after the vaccine.
Says millennials are spreading it more than other age groups - Sweden I think he cited.
Tweeted Trump to do something about this. Wouldn't need the National Guard, he says.
Says Mnuchin at Treasury does not have enough money to bail out all companies.
Asked if 5-year loans to everyone for everything would solve the crisis, he says no. We need to kill the virus. You can't lend your way out of the war with the virus. If we wait a month, at home, it's solvable.
Says Milan, Italy Fashion Show was a breeding ground, essentially. Everyone flew in, and out, and went home to Paris, Brazil, China.
Ackman is the much-maligned CEO of Pershing Capital. Says buybacks are history.
Says Trump's gradual rollout, and the state by state rollout, is creating fear. We need to go to war and go all-in. He admits in the end, that if the President would do this, the markets would rocket to the upside.
Sounds like a guy that's seriously underwater in his investments. Begging for someone to bail him out with government action.
Delta revenue down $2 Billion in March.
NRaleighLiberal
(59,940 posts)bucolic_frolic
(42,679 posts)He sounds like he's about to lose his business, underwater in the stocks he's bought, and also said Trump could be re-elected if he takes drastic action, but he's toast if it's this piddling response so far. So he's sweating it, worried.
Stock markets are under a trading halt.
Grasswire2
(13,564 posts)This was a stunning, stunning broadcast.
Mike 03
(16,616 posts)But so far as Italy is concerned, the virus was already well out of the box by the time the Milan Fashion Show happened. And that's a sloppy mistake to make.
Armani holds Milan Fashion Week show in an empty theater because of coronavirus
https://www.cnn.com/style/article/armani-fashion-week-coronavirus-trnd/index.html
bucolic_frolic
(42,679 posts)I'm just posting the content of the interview. He is not well-regarded, generally.
Turbineguy
(37,212 posts)trump but with a brain.
He's a good story teller.
My guess is that he's short.
bucolic_frolic
(42,679 posts)but might have been the cell/internet connection
uponit7771
(90,225 posts)... for instance.
I do get what hes' saying, I'm thinking 60 days though and test test test
wishstar
(5,267 posts)if economic conditions are as dire as predicted, investors and businesses will need to divest stocks just to keep their heads above water and if they are affluent enough to be sitting on cash they don't need soon, they are less likely to take a risk in markets right now if companies are not going to have any profits and some even veer towards bankruptcy.
Celerity
(42,674 posts)OTT PC-based fear over the immigration/refugee issue (and how it impacts with the pandemic from a multivariate set of interactions) and so they deferred to radical (and truly stupid) health officials with major apologist agendas like Anders Tegnell who LUDICROUSLY, for the past 2 months or so, has said it was not a threat, not really contagious (NOT joking) and to say we needed to shut down like Norway, Finland, Denmark etc was letting the 'racists' win.
He said that it was 'wrong' to close schools, workplaces etc, because the immigrant kids would not have good home environments (which is RUBBISH, we spend between 80,000 and 100K USD per annum on average immigrant/refugee family.) He got into a serious on-air brawl with the CEO of Spotify, who long ago closed their offices and went to a work-from-home stance. Tegnell called him a (get this) dangerous alarmist and a threat to civil Swedish society!
I have so many friends who at at workplaces where there is a massive bifurcation between the vast majority of the workers/teachers etc, and then management, who are also paralysed by fear and also defer to the 'authorities'. It has been an epic clusterfuck.
Tegnell needs to brought up on criminal charges when this is all over. It is all literally like reverso-world Trumpland, denialism running riot and people stupidly refusing to see the danger, but it all comes from a bizarre ultra-left PC basis (Swedish PC which is very complicated thing to explain and is all interwoven with Jantelagen) that has for years lied, intimidated the press (the part that did not go along, much of it was complicit as well), the police (the top ones, not the lower officers) etc etc., all the cover their arse for disastrous policies that are now coming home to roost (not at ALL limited to coronavirus.)
It is far more complicated than I laid out, and actually potentially (and unfortunately) far worse. The one thing I cannot overstate is the raw, open hatred (SO SO rare from Swedes) that almost everyone I know well has for Tegnell and his band of rotters. I have never seen anything like it, even some of the most mild-mannered (and I mean mild-mannered even on a Swedish basis, lol) people are seething here.