The Federal Reserve has pledged three TRILLION more to wall street.

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    • #336310
      David the Gnome
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      I seem to recall something or other in my history class that suggested that artificially inflating the market was a bad idea for some reason.  Huh.  So… that brings the total for the “market” bailout to around 7 trillion, or so.  No big deal, right?  I mean, nevermind the people who can’t pay for food and rent – we gotta save the market!  So what if the poor fuckers starve, go bankrupt from their medical bills, or get evicted from their homes!  We’re making America great again!  We’re number 1!  Huzzah!  And stuff.  Holy fucking hell.  I wonder what everyone will think of this when they see it this morning.  Oh, well it is only more than our yearly GDP… isn’t a 401K more important than food?  Isn’t it?  You want the children to suffer??

      https://www.reuters.com/article/us-health-coronavirus-federalreserve-mar/federal-reserves-3-trillion-virus-rescue-inflates-market-bubbles-idUSKCN24E13G

    • #336311
      David the Gnome
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      We’ve got to think about all the kids of millionaires and billionaires – do we want them to go to school with our kids where they might get the virus?  Perish the thought!  We’ve got to look at what’s really important here… our infrastructure?  The raging virus – or the welfare of the wealthy?  Clearly, the federal reserve – and our beloved government have answered.  “From sea to shining sea!”, “This land is your land, this land is my land!”, “With liberty and justice, for all!”

      Clearly I need more coffee!

    • #336318
      Ohio Barbarian
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      Yah, they’re inflating an investment bubble again. It’s almost as if the kleptocrats are trying to steal as much as they can before it all falls apart for them.

      Deficits don’t matter.–Dick Cheney

      At least Cheney consistently applied the axiom. Mnuchin’s running things now; for him and Nancy Pelosi, deficits don’t matter so long as the spending goes to Wall Street and the 1%, but they most definitely do matter when the spending goes to anyone else.

      What happens when investors figure out that the dollars Mnuchin is creating on federal computers are imaginary? I think we’re going to find out.

      It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

      Show me a man that gets rich by being a politician, and I'll show you a crook.--Harry Truman

    • #336319
      David the Gnome
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      Err, sorry, guess I got caught up in the moment.

      Oh I see what they are doing – business as usual and all that.  I sure am glad the wonderful free market is saving us.  If they don’t already know those dollars are imaginary, OB, they are even dumber than I thought – which would be astonishing, considering my high respect for their mighty intellects and all that.  Mnuchin… ugh, just reading the name makes me shudder.  That is one dude who should be cleaning toilets in prison.

    • #336327
      N2Doc
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      Hey, how else are you going to get Amazon to 3000 a share, or Tesla to 1300 a share? Billionaires must be fed!

    • #336335
      GZeusH
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      And we all know what the future holds for a feedlot animal — the BBQ pit!   I’ll have my billionaire rubbed with a little Kansas City dry rub before he is put in to slow roast.

    • #336337
      David the Gnome
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      its gonna be big

    • #336339
      jwirr
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      As if they are the only ones that have been effected by coronavirus. Anyone who has studied the Great Depression realizes that there are two ways to get an economy going again. 1. Give relief to the people. 2. Allow the people to start spending again.

      But as long as they ignore the real victims of the virus and the economy they are NOT going to get anything done. Making the richest richer is not going to change anything. That is the results of putting another business man in the WH and giving him a bunch of Rs and corporate Ds to support his every whim.

      jwirr

    • #336353
      salemcourt
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      USD is losing value against the EU and the Yen.  Holding steady against HKD.

    • #336359
      MizzGrizz
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      ..before it all crashes later.

      Grab,grab,grab.

    • #336365
      doh1304
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      • Total Posts: 1,199

      when Bush started it.

      We said it again and again when Obama did it in 2008, 2009, 2010, until we got tired of saying it every year.

      Then it became “racist” to say it.

      But now it’s Trump, so we’re allowed to say it again.

    • #336370
      David the Gnome
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      • Total Posts: 2,604

      @doh1304

      I’ve always had a hard time with people telling me what I’m “allowed” to say.  Fuck them.  Of course you are right – and it was something I read a great deal about during the Obama years.  I kept thinking about the Great Depression – and how the inflated stock market ended up turning out then… yet, the crash I expected had not yet come.  Well, here it is.  In slow motion now, but still ongoing.  The market will rise and fall on a whim – and life savings and retirement savings will be lost.  Yet, the millionaires and billionaires will somehow soldier on… you know, since they’re being given money for free.

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