FB: Minnesota Intercollegiate Athletic Conference

[SagatagSam]

Man.  Well Washington needs to get to work on some sort of financial system change - maybe FDIC for mortgage debt or something like that - that will enable the banks to be more flexible with their capital requirements so they can better absorb the slowdown and hopefully provide some greater capacity for missed or minimised debt repayments.

Buried in the press release was this nugget regarding capital/reserve requirements. Along with a series of other measures to prop up liquidity on Wall Street, the Federal Reserve Board of Governors announced last evening that it "has reduced reserve requirement ratios to zero percent effective on March 26, the beginning of the next reserve maintenance period. This action eliminates reserve requirements for thousands of depository institutions and will help to support lending to households and businesses."

I'm skeptical.

[miac952]

It feels like six months ago when I raised the question on whether Johns Hopkins closing off their NCAA basketball game to fans was too extreme. Yet, it was only 10-11 days ago, and I could not have been more wrong.

As others have mentioned the problem has been that the number of confirmed cases is likely minuscule compared to the total number of infected in the community. Testing standards are stringent due to the tight supply available. MDH has categorized the state as "widespread outbreak." Flattening the curve in MN means trending this thing out as long as possible to avoid a strain on ICU beds, ICU doctors, and the 450 ventilators that hospitals have in the Twin Cities. It isn't hard to do the math and realize that anywhere beyond 5,000 cases at any given time could push those numbers well beyond capacity, and into the doomsday scenario Northern Italy is facing.

[sjusection105]

Mall of America to shutter until at least March 31.

[OzJohnnie]

I'm skeptical.

I'm trepidatious, not sceptical. It will be rough, especially for businesses that make their quid off socializing. But the world continues on.  We've all got to keep moving ahead regardless. And it's important to remember that it's really a certain demographic (a few of whom who are very near and dear to us here on these boards - look after yourselves) who are in most actual threat from this bug. My retirement may get put off for an extra five or ten years by this virus, but the world won't end.  Keep calm and carry on as the Poms said back in the day.

[OzJohnnie]

Mall of America to shutter until at least March 31.

https://blog.aboutamazon.com/operations/amazon-opening-100000-new-roles

We are opening 100,000 new full and part-time positions across the U.S. in our fulfillment centers and delivery network to meet the surge in demand from people relying on Amazon's service during this stressful time, particularly those most vulnerable to being out in public.

The adrenaline boost this will give to the digitisation of society will be a phenomenon to watch.  In one respect we're very lucky this virus hit now when our economy was already in rapid transition to a new business model. If this had happened just 25 years ago back when I was at SJU we would had no choice but to go into the public for even the most basic needs and grandma and grandpa would have been sitting ducks.  And doubly lucky we live in modern, western countries. I would hate to be living in a backwater right now. It ain't going to be pretty in places still firmly in a bricks and mortar world.

[OzJohnnie]

It just occurred to me that we’re amazingly lucky to have witnessed the run on toilet paper. Just 30 minutes ago I was thinking of it again, saying “morons” under my breath. But now I cheer the morons with full voice.

They ran toilet paper, not banks.  The critical physical asset in this crisis is not hard currency. Bills. No one is even the slightest bit worried that they will be unable to access their capital.

The digitisation of our global financial network, particularly SWIFT instant payment protocols in the last five years, has prevented economic collapse. And we didn’t even know it.

I’m actually amazingly upbeat right now. This will be difficult, yes, but our social system has never been better able to handle something like this.

[stanbob]

Adapt, Improvise, Overcome...

[57Johnnie]

Adapt, Improvise, Overcome...

I guess.
I live in an agricultural county in western CO. One of the main crops has always been onions. There have been no onions in our supermarkets for over a week. On the other hand, in 4 years the hemp crop has grown from 0 to 30,000 acres!!!!

[OzJohnnie]

Well, things may change but it looks like the AFL will continue on this year.  The opening round is this weekend and boy I hope we get to play Brisbane.

The league has taken some extraordinary measures to make it all work.  Players have essentially entered camp.  They are dorming together as well as with support staff.  Socially isolating the team.  Refs.  Administrators.  The season has been shorted by over 20%.  Everyone has jumped on board trying to keep the virus out of the playing system.  And they will play to empty stadiums.  Players are taking 20% pay cuts and clubs are cutting football department budgets to finance it all.  Stadiums will be empty but broadcasts will go ahead.

I'm sure it will stop as soon as the first players turns up positive but until then they are living in a bubble to keep it going forward.  I hope it works.

[HSCTiger74]

Well, things may change but it looks like the AFL will continue on this year.  The opening round is this weekend and boy I hope we get to play Brisbane.

The league has taken some extraordinary measures to make it all work.  Players have essentially entered camp.  They are dorming together as well as with support staff.  Socially isolating the team.  Refs.  Administrators. The season has been shorted by over 20%.  Everyone has jumped on board trying to keep the virus out of the playing system.  And they will play to empty stadiums.  Players are taking 20% pay cuts and clubs are cutting football department budgets to finance it all.  Stadiums will be empty but broadcasts will go ahead.

I'm sure it will stop as soon as the first players turns up positive but until then they are living in a bubble to keep it going forward.  I hope it works.

  Assuming they can play them all, are you looking at 16 or 17 matches? And how do they determine which home and home gets chopped to one?

[OzJohnnie]

Assuming they can play them all, are you looking at 16 or 17 matches? And how do they determine which home and home gets chopped to one?

17 rounds at the moment.  They are rejigging the schedule so that each side is played once.  The first time two sides play twice isn't until the middle of the season with the original 22 round schedule so they don't need to work the second half yet (and if the plan around isolation goes cactus then they won't need to anyways...).  As to what gets chopped, my guess would be that the second match-up is the one dropped and if that means some sides get more home games and some get more away games then that's too bad.  But they haven't said how they'll rebalance the schedule yet.

[OzJohnnie]

Woohoo!  Round 1 is a go.  Playing to empty stadiums but I bet this round of footy gets better ratings that the final episode of MASH.

[sjusection105]

St Cloud Arch Diocese has suspended all live services including Good Friday & Easter through April 13.

[DuffMan]

St Cloud Arch Diocese has suspended all live services including Good Friday & Easter through April 13.

And weddings, funerals, confirmations, etc!

The MSP Archdiocese has not followed suit, though my family will be staying home.

[OzJohnnie]

St Cloud Arch Diocese has suspended all live services including Good Friday & Easter through April 13.

And weddings, funerals, confirmations, etc!

The MSP Archdiocese has not followed suit, though my family will be staying home.

Our local parish has cancelled mass but the average age on a Sunday morning is about 93.  There are four ambulances waiting out front on a regular weekend.