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Old 03-21-2020, 02:42 PM   #1  
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Default $100B Hospital bailout

https://www.cnn.com/2020/03/21/polit...age/index.html

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Some hospitals are running low on cash after canceling many elective procedures to devote more resources to the coronavirus outbreak.
Executives from three hospitals across the country detailed their dire fiscal conditions on a conference call Saturday hosted by the American Hospital Association. This may force some to close their doors just as the need for care skyrockets amid the pandemic.

The lobbying group, along with the American Medical Association and the American Nurses Association, are pressing congressional lawmakers to provide them with $100 billion in the stimulus plan that's now being hammered out on Capitol Hill.

The emergency fund would help cover lost revenue from suspending many elective procedures -- which can be lucrative for hospitals -- and pay for additional staffing, supplies, facility expansions and other costs related to the coronavirus pandemic, the industry groups say.
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Old 03-22-2020, 05:09 PM   #2  
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It's almost comical how bad this is getting. I mean, if it weren't actually happening and if our careers and livelihoods weren't evaporating in front of our eyes, you almost couldn't write a script that was full of this much clusterphuck.

With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.

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Old 03-22-2020, 06:32 PM   #3  
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It's almost comical how bad this is getting. I mean, if it weren't actually happening and if our careers and livelihoods weren't evaporating in front of our eyes, you almost couldn't write a script that was full of this much clusterphuck.

With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.

####.
Can you say 2006?
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Old 03-22-2020, 06:34 PM   #4  
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With all the retirees coming up, imagine heading off into retirement furloughed and seeing your nest egg evaporate at the same time.
If you are within 10 years of retirement, your money should not be in the market.
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Old 03-22-2020, 10:07 PM   #5  
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If you are within 10 years of retirement, your money should not be in the market.
thatís an absurd statement contrary to every bit of investment advice everywhere
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Old 03-22-2020, 10:14 PM   #6  
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thatís an absurd statement contrary to every bit of investment advice everywhere
No it's not. Common wisdom assumes a 10 year business cycle. All of the 3 wealth management companies I have used all have an automatic 401k schedule that drastically reduces your exposure to the stock market the closer you get to retirement.
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Old 03-23-2020, 04:54 AM   #7  
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No it's not. Common wisdom assumes a 10 year business cycle. All of the 3 wealth management companies I have used all have an automatic 401k schedule that drastically reduces your exposure to the stock market the closer you get to retirement.
At 55+, you still need to make your money last 30+ years. The only way to do that is either

a) don't spend much or
b) invest in equities, in the neighborhood of 40%-50%.
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Old 03-23-2020, 06:43 AM   #8  
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If you are within 10 years of retirement, your money should not be in the market.
It should not be in higher-volatility investments. The closer you get, the more should be in less-volatile vehicles.

But even on retirement day, there's a large part of your investment which won't be needed for another 10+ years... that part can be more volatile.

Depends on how much income you expect to derive from interest/dividends vs. draw-down of principle.
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Old 03-23-2020, 09:33 AM   #9  
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Mortgage servicers may go under next

https://www.cnbc.com/2020/03/23/coro...nt-system.html
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Old 03-23-2020, 09:35 AM   #10  
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Can you say 2006?
I'm in Miami right now looking at all the condos being built from my hotel.

I can't help to think these are going to be 70% off in less than 12 months.

This is bringing down the whole system...it was so highly strung that it was bound to happen...but jeez this is the nuclear option.

Hey, at least the virus isn't flesh eating.
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