aparch
Acetaminamerican
Re: PoTUS 45 LVXII: Pandemic Legacy Season 3
The last two days they have been discussing giving a boost to all Americans. Cut a check, federal tax holiday, something, anything. A couple of people followed lockstep in the Presidents demands for a payroll tax cut. But those people were soundly greeted with "Well, that's a few extra bucks for workers who can keep working, but what about paid time off, those out of work because of cancellations, what is being done to help those people?" and responded to with just silence from the GOP water carriers.
Another person pushing for a payroll tax cut on CNBC was met with "Didn't they pass that a year ago? That payroll tax cut was supposed to add liquidity to the market and make it easier for companies to get through times like this. Well, that obviously didn't work, so lets not make that mistake twice."
So the market will respond accordingly. One person was asked if yesterday was a sign of a good time to buy in, and one of the panelists goes "I'm a big finance guy who loves to buy in when it's low like this, but we haven't seen bottom yet. Don't try to time it. We're not in the clear yet. (And this was AFTER Trump's grandstanding.)
Listening to CNBC has, to me, been way more informative than any of the news networks this week. It's been interesting hearing money people discuss what needs to be done and their reaction when the President half a**es it. They wanted the fed to loosen up the bond markets a bit, stabilize them, and the Fed did such, but the market reacted with a quick up, and right back down, because there wasn't any follow up from the President on aid coming, or what he was doing.
The last two days they have been discussing giving a boost to all Americans. Cut a check, federal tax holiday, something, anything. A couple of people followed lockstep in the Presidents demands for a payroll tax cut. But those people were soundly greeted with "Well, that's a few extra bucks for workers who can keep working, but what about paid time off, those out of work because of cancellations, what is being done to help those people?" and responded to with just silence from the GOP water carriers.
Another person pushing for a payroll tax cut on CNBC was met with "Didn't they pass that a year ago? That payroll tax cut was supposed to add liquidity to the market and make it easier for companies to get through times like this. Well, that obviously didn't work, so lets not make that mistake twice."
So the market will respond accordingly. One person was asked if yesterday was a sign of a good time to buy in, and one of the panelists goes "I'm a big finance guy who loves to buy in when it's low like this, but we haven't seen bottom yet. Don't try to time it. We're not in the clear yet. (And this was AFTER Trump's grandstanding.)
