Will this stock market madness affect cards?

[japhi]

I’m not surprised that the super high end cards that started auction 5-10 days ago are still doing well. The economic impact of this thing is just starting.

Lets see how auctions are doing when the country is is in quarantine, millions of people are laid off , and consumer spending grinds to a halt.

To give some perspective, Aramark has 180k employee’s. They manage food service at facilities. All of these facilities are closed. Thats one company that has no work for its people.

The airlines employee 600k people. Marriott has 130k employees. 15mm people work in restaurants in the US. All of these businesses will be running at 10 percent capacity. Even those of us that won’t face temp layoff and going to be dramatically impacted. It basically will take out everyone in corp americas ability to make their sales plan and bonuses.

Cards like everything else are going to get annihilated.

[Dpeck100]

What I do find fun about these discussions is there are a wide range of outcomes that can happen.

Just a few minutes ago you had a hedge fund manager on CNBC who has a personal net worth in excess of a billion dollars said he would go mortgage a house to buy stocks right now and thinks the market will come roaring back later this year. Another guest pushed back and disagrees and thinks the economic effects will longer and deeper.

Time will tell who is right but both are well educated men with lots of experience.