Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

[FadeToBlack&Gold]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The $1.5B was Dump yelling "DO SOMETHING!" at underlings, who in turn yelled it at their underlings, until they found the one guy who happened to be watching Cramer.

 

[unofan]

The $1.5B was Dump yelling "DO SOMETHING!" at underlings, who in turn yelled it at their underlings, until they found the one guy who happened to be watching Cramer.

As much as Trump has tried to truly politicize the fed, he really hasn't succeeded. It's the one place where even the Senate has killed numerous nominees.

The markets have been behaving oddly. Bonds have fallen at the same time as stocks. Short term commercial paper was freezing up. And so on. I don't pretend to know exactly what should have been done in terms of the total amount, but the fed adding grease to the wheels seems like the correct call.

 

[dxmnkd316]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Liquidity was basically nonexistent. That said, was that really the highest priority? The first response should not have been not to call CNBC and ask for advice. It should have been ask the medical community what they need.

 

[mookie1995]

It should have been ask the medical community what they need.

Coffins

 

[unofan]

Liquidity was basically nonexistent. That said, was that really the highest priority? The first response should not have been not to call CNBC and ask for advice. It should have been ask the medical community what they need.

The Fed is not the feds. The Fed injecting liquidity doesn't prevent the feds from doing other things. That's entirely on the feds' own incompetence.

 

[ticapnews]

The fed injecting 1.5 trillion in liquidity is not the same as the federal government spending 1.5 trillion in stimulus. And AOC should know that. And all Bernie supporters spouting that talking point need to take a macro economics class.

The average person can understand that concept a lot easier than a lecture on quantitative easing.

 

[unofan]

The average person can understand that concept a lot easier than a lecture on quantitative easing.

Yeah, but doesn't make it accurate.

 

[ticapnews]

Yeah, but doesn't make it accurate.

Neither is calling universal health care Communism that will turn us into Venezuela. Sure has worked though.

 

[aparch]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

And we're off on the NYSE...
<img src=https://i.makeagif.com/media/7-20-2015/ZOsI4D.gif>

So far it looks like all the overnight gains are slipping away.

 

[ticapnews]

And we're off on the NYSE...
<img src=https://i.makeagif.com/media/7-20-2015/ZOsI4D.gif>

So far it looks like all the overnight gains are slipping away.

Ringing the opening bell on Wall Street or signalling the passengers to get into lifeboats before the ship sinks?

 

[aparch]

Ringing the opening bell on Wall Street or signalling the passengers to get into lifeboats before the ship sinks?

Why not both?


Looks like the market has rebounded back to open. Can't wait for the crash at market close when Trump starts talking.

 

[aparch]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Well, I was wrong on that crash last Friday. It shot up because the adults who spoke sounded confident and prepared.

Turns out it was once again smoke and mirrors, and dow futures hit their limit down fast on Sunday, despite the Fed lowering rates to zero.

I predict opening bell as normal, with a circuit breaker to stem the bleeding within five minutes of open.

 

[Spartanforlife4]

Well, I was wrong on that crash last Friday. It shot up because the adults who spoke sounded confident and prepared.

Turns out it was once again smoke and mirrors, and dow futures hit their limit down fast on Sunday, despite the Fed lowering rates to zero.

I predict opening bell as normal, with a circuit breaker to stem the bleeding within five minutes of open.

Aren’t futures already at the circuit breaker? Could be within the first minute.

Ah, nevermind, they’re still 2.5% off.

 

[joecct]

Well, I was wrong on that crash last Friday. It shot up because the adults who spoke sounded confident and prepared.

Turns out it was once again smoke and mirrors, and dow futures hit their limit down fast on Sunday, despite the Fed lowering rates to zero.

I predict opening bell as normal, with a circuit breaker to stem the bleeding within five minutes of open.

The Panic of 2020.

 

[joecct]

And we're off on the NYSE...
<img src=https://i.makeagif.com/media/7-20-2015/ZOsI4D.gif>

So far it looks like all the overnight gains are slipping away.

Close association! 2 weeks in the box!

 

[aparch]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Rebecca Quick on CNBC is sick of all the bullsh** and I'm absolutely loving it.

First she dragged the Uber CEO for squirming out of his answer. He said corporate-wise, Uber has plenty of liquidity to survive. Becky asked about what they're doing for their drivers. CEO responded that in the UK and Europe they're able to offer benefits and minimum driver earnings. She asked what he's doing at home in the US.
UBER - 'Well, there are two different types of classifications: employees and contractors, and we can do that to our employees.'
Becky - And the drivers?
U- There are rules regarding giving benefits to contractors and employees.
B- Can you please name the laws forbidding this?
U- Uhh, there are rules about giving part time contractors benefits.
B- Starbucks in California has no problem giving benefits to part time workers.
U- They're called employees. *Under breath* Ours aren't.


And then in the next segment talking about airline issues, a breaking report came out that Virgin Atlantic is making employees take eight weeks off.
At the end of the segment:
Becky - Going back to the Virgin Atlantic eight weeks off, is that paid time off or...?
CNBC Reporter - Looking at that it appears it is... [awkward pause] eight weeks unpaid time off.
At this point I'm pretty sure I could feel her icy stare through my radio.

 

[ScoobyDoo]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

My daughter works for a very large company. They are sending everyone home till the end of April.

 

[aparch]

My daughter works for a very large company. They are sending everyone home till the end of April.

CNBC just had someone on who said that (like was pointed out in the Coronavirus thread) the charting is expecting us to hit peak in April.

My new favorite reporter from CNBC asked about schools who are only closed for two weeks?

'Well, I hope they realize that this is an "re evaluate every two weeks" situation and they're going to be closed longer.'

 

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

CNBC just had someone on who said that (like was pointed out in the Coronavirus thread) the charting is expecting us to hit peak in April.

My new favorite reporter from CNBC asked about schools who are only closed for two weeks?

'Well, I hope they realize that this is an "re evaluate every two weeks" situation and they're going to be closed longer.'

My daughter is a teacher. Their Spring break is this week and they extended it one week. They are meeting today to discuss a further extension.

This is in a district that voted for McSally so I have no idea what the morons will decide. They'll probably pray on it.

 

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The Panic of 2020.

It's two things:

1. The market was smoke and mirrors anyway -- it was bound to go poof. That explains the sharp downwards slope.

2. The smart money is genuinely worried that the morons in charge are going to mishandle this so badly that they will do lasting damage. That makes the floor lower.

This is the long-term failure of Late Stage Capitalism combined with the short-term failure of an administration produced by the massive stupidity engendered by Late Stage Capitalism (with a healthy seasoning of racism and sexism).