In New York City on Friday the Dow Jones Industrial Average soared to 28,004, a new record. In fact all major U.S. stock indexes hit new highs, and the SNP 500 hit its longest streak of weekly gains in two years. Put simply, it was a really good day for the economy.
Meanwhile in Washington, the public phase of the House impeachment inquiry slogged along, with Democrats all but conceding that even if they vote to impeach, the removal of the president by the Senate is all but certainly not going to happen.
Are these two major events on the Acela corridor related? It’s difficult to say, but some experts feared impeachment and removal could put a serious strain on the market. Asked last month by CNN if he believed impeachment could crash the market, former Goldman Sachs CEO Lloyd Blankfein said that it could, essentially arguing that markets don’t like that kind of political disruption.
So why hasn’t the impeachment inquiry spooked the market? Joseph Brusuelas, chief economist at the audit and tax firm RSM, said he does not believe impeachment has any material impact on the markets or economy.
“Given where the public is and the small probability of conviction in the Senate, there is at this time little risk to the outlook…If there should be a major shift in public opinion and the opinion of potential jurors in the U.S. Senate, that is where economists, financial professionals and market actors would first look for stress,” he said.
David Kotok, Chief Investment Office at investment advisory firm Cumberland, stressed a similar point, saying, “The markets see the impeachment process as a pure political ploy. So the metaphor is Clinton, not Nixon. Hence no market reaction to impeachment proceedings. So far, this is not a Nixon type story. If evidence surfaces to a smoking gun level like the Nixon 18 ½ minute gap in a tape, then things change.”
There are few things telling about this situation. First, it is yet another indicator that experts in myriad fields believe the Trump presidency will survive. Democrats, and progressives in the media are now claiming they always knew the Senate would never convict, but only a few weeks ago they were waxing poetic about how televised hearings would sway public opinion and pry loose enough GOP senators to sink Trump.
That Blub blub blub sound you hear is the S.S IMPEACH TRUMP sinking in the bay
There has not been any criminal behavior presented. The whole issue is that deep state employees think that they know better than the President we elected to run the country. The Democratic Party use to be a vibrant party that had real concern for the citizens of the USA. There were ideological disagreements in the legislature and with the administrative branch, but there was respect. Both parties got together to make sure the business of the country was implemented. One of the major defections of the Democrats is that after Nixon negotiated the treaty that brought back our POWs, The Democrats in the HoR disapproved the funding promised to North Vietnam. That immediately stopped the repatriation of POWs from the north. No one knows how many military prisoners died as a result of that. From that point, the Parties started to separate and moved their concern to political issues rather than doing the business of the country that benefited the citizens. I use to vote for the best candidate based upon his history. Now, no person elected as a Democrat can express his/her values and vote on his values if that differs from the party leadership. So, I vote a straight ticket these days because the Dems are so far left, they do not even recognize the needs of the citizens anymore.
The Democrats probably hoped their phony impeachment farce would at least crater the economy and further damage Trump’s electoral chances beyond just the stain of investigation. Forget Russians trying to alter the course of our elections, Democrats are trying to use Congress to gain advantage.
This past July marked the 10th consecutive year of continuous U.S. economic expansion—the longest continuous expansion in 160 years.
How long has Trump been president?
Trump may go down in history as the guy who blew up the economy by turning slow and steady growth into a stimulus-induced binge, tapping out all available measures used to counter the inevitable downturn in the process.
What stimulus measures will be left to counter the downturn when the inevitable happens? Shall we cut taxes, when we’re already running a trillion-dollar-a-year deficit? Shall we lower interest rates, when they’re already so low they’re stealing from the nation’s traditional savers to prop up the Wall Street casinos?
We need to close the loophole that allows our investment banks to buy into Chinese investments overseas and place them into our American portfolios.
You shouldnt be horribly surprised to find out you are invested in surveillance cameras for concentration camps in China or the ICBMs being produced that could target American cities. Acceptable treaties would be easier to negotiate if we closed this tap to American dollars. American retirement funds would also be more secure from retaliation.
Reference Imprimis.
Con men using praise for the virtues of capitalism as their cover are twisting it into a shakedown operation. They’re never the ones left holding an empty bag at the end.
This is not a socialist observation.
@Greg: Not that many years of GROWTH. Under Obama, the economy was weak and lethargic, a failure, the weakest recovery in history. Still trying to take credit for Trump’s success, I see.
Republicans are hyping Trump’s stimulus-induced binge.
Starting from the train wreck Obama walked in on, with monthly job losses still skyrocketing, his second term ended on the 75 consecutive month of U.S. job growth. Trump has not yet had a year during which annual job growth exceeded Obama’s highest year.
A comparison of annual GDP growth tells a similar story. Trump’s highest year of growth has only managed to equal Obama’s highest year. And Obama started from the subbasement level of the worst recession since the Great Depression, while Trump began with a recovered, growing economy. Obama had to deal with an economy so damaged that it had a negative GDP growth rate.
It’s no act of economic genius to create a short-term economic boom by slashing taxes and forcing down interest rates when the economy is already steadily growing. Nor does it take a genius to figure out that this leaves no remaining stimulus tools to use the next time the economy is headed for recession. When you consider the huge cuts in capital gains and corporate tax rates, it’s easy to figure who benefited the most from all of this. Republican mythology notwithstanding, the Trump administration and GOP have facilitated another high-end cash grab.
The Trump vs. Obama economy — in 15 charts
@Greg: The figures said recovery would take up to ten years. Trump recovered us from the Obama tragedy in a matter of months.
This isn’t a credible news source, and any commentary it offers is to be dismissed.
@Greg: Of course, that train wreck was a Democrat production and, though 1.2% growth is in the positive range, it is by no means a recovery or REAL growth. Obama benefited from quantitative easing and 0.0% money to loan which barely kept him above water.
He failed.
Trump succeeded and excelled.
Trump’s economy has outperformed 16 years of Bush and Obama
Manufacturing jobs growing 714% faster under Trump than under Obama
https://www.forbes.com/sites/chuckdevore/2019/01/04/312000-jobs-added-in-december-manufacturing-growing-714-faster-under-trump-than-obama/?fbclid=IwAR1s3i5VhVh7YRawtv8sh9WI2omil_wbb65nRfL25DuSOxnv_8NT0M6sSGU#7626c1745b50
Obama vs. Trump; first two years
Better jobs under Trump
https://qz.com/1347200/the-jobs-created-under-trump-are-different-than-under-obama/
Economists say the economic surge is Trump’s accomplishment, not Obama’s
https://www.newsmax.com/politics/stephen-moore-arthur-laffer-us-economy/2018/06/08/id/864998/
Most economists agree Trump is responsible for the economic recovery
Most economists agree Trump is responsible for the economic recovery
Black unemployment, which was so dismal under Obama, down under Trump
http://dailycaller.com/2017/08/17/black-employment-up-up-up-under-trump/?utm_source=site-share
And THAT, as they say, is that.
@Nathan Blue, #9:
The “Obama tragedy” began when the economy went into a nosedive at the end of 2007 that rapidly worsen through the entire last year of the George W Bush administration. The situation didn’t turn around until June 2008, five months after Obama took office.
In no way was this the “Obama tragedy”. It was the Obama Recovery, which continued throughout the remainder of his time in office. No thanks to the GOP, which resisted every recovery measure effort, constantly eroded public confidence, and preached impending economic disaster at every possible opportunity.
All of that, and eight years without the scandals that are now a regular occurrence. How many members of the Obama administration were convicted of felonies? Nobody was ever even charged.
No source that prints anything that runs counter to Donald Trump or the right’s total bullshit is considered a credible source. The situation is so ludicrous that the right has to proclaim all mainstream news outlets to be false news sources, and majority economic and scientific opinion to be leftist propaganda.
You actually have to discount the conclusions of our own Intelligence Community in favor of tales traceable to Russian Intelligence sources. (That’s where the story that Ukraine meddled with the 2016 election in favor of Clinton originated.)
You have to believe the contradictory bullshit Trump and his tools roll out, while discrediting the sworn testimony of career government employees and military personnel who have served honorably and often with distinction for decades under both republican and democratic administrations.
@Deplorable Me, #11:
That’s your usual list of b.s. sources, with the addition of Forbes.
If you want comparisons, here’s one that’s fairly easy to grasp: More jobs were created in Obama’s last two years (5.1 million) than in Trump’s first two years (4.9 million).
I can’t even follow Chuck DeVore’s “explanation” of where the 714% faster under Trump than under Obama claim comes from. Wherever it comes from, it’s important to remember that manufacturing jobs currently represent only about 8.5% of all U.S. non-farm jobs. At the end of 2016, they represented 8.4%. In other words, since Trump took office they have increased only by one-tenth of one percent of the total.
@Greg: Sorry there is a consensus of economists its settled science. There are more jobs than humans qualified to accept them, people are making higher wages, jobs with benefits are being offer again.
@Greg:
It was indeed. It was his, it was weak, it was strangled by his policies and it was a failure. There is one outstanding reason the boom in growth began the moment Trump won: he was not Obama and he was not going to punish success and he would actually encourage growth.
Yeah, anything you don’t like to hear is “That’s your usual list of b.s. sources”. Believe me, I really don’t care how ignorant you are and want to remain, but don’t expect me or any other intelligent person to believe you. Yeah, Obama’s “recover” was better than terrible, but not quite good; certainly nowhere near great. What is a fact is that Trump has initiated a growing economy, reversing most of Obama’s agenda of strangulation.
It comes from the manufacturing jobs Trump has opened the door and welcomed back into this country.
I know you hope Trump can be impeached and discarded before his success fully reveals the abject failure of Obama to even those, like yourself, so totally blinded by liberal propaganda. But, for the rest, it is far too late for that.
@kitt: Yeah, but Obama was so classy!
@Deplorable Me: Good reply, but wasted on ignorance. Greg is a flat Earth believer. If the cult leaders say the Earth is flat, then Greg believes it. If anyone looks at their 401k in-depth, the majority of the growth is dividends that increase in corporate profit shared with stock holders. That happens when stock holders are only taxed once on income when corporate taxes are lowered. It allows businesses to expand and hire more people. Simple process if one is not too stupid to follow the issues.
@Randy: The left even tried and failed to instigate a recession during Trump’s term; his successes can’t be suppressed. Their weak-ass impeachment attempt will fail as well.
You don’t remember what actually happened because you never managed to figure it out correctly at the time. Blame FOX News and people like Sean Hannity and Rush Limbaugh, who likely laughed at you all the way to the bank. They pocketed millions per year and continue to do so by deceiving you. Deception that benefits consolidated wealth and power can pay very well indeed.
Trump and the GOP are going to bring about a recession without the help of anyone, by using economic tools normally used to brake a downturn as a means to overstimulate an already recovered and growing economy. When you’re already running a trillion-dollar-per-year deficit with a strong economy, you cannot cut taxes further as a stimulus when the economy flags. Nor can you respond by cutting interest rates when you’ve already pushed them so low that savings account interest rates are robbing conservative savers to force more money into the Wall Street gambling casino.
What we’re witnessing is another high-end cash grab, far more dangerous than the one that proceeded it. Binges are great until the morning after.
@Greg: WHO promoted the “mountain” of evidence PROVING Trump colluded with Russians? Was it Fox News? Was it Hannity? Was it Limbaugh? No, it was LYING Democrats and their media co-conspirators.
You and your Democrats (which HAS to include most of the media) does the lying. But, as Democrats that have been perpetrating election meddling, collusion, obstruction, quid pro quo, extortion, bribery, you try to blame lying on Republicans as well. No sale.
The Trump campaign was interacting with Russia to gain political advantage in the 2016 election. More recently, the Trump administration has attempted to coerce another foreign government into providing an investigation that could be used against a likely 2020 election opponent. Part of that “favor” would have involved a means to shift blame for the 2016 meddling from Russia to Ukraine by seemingly lending credibility to a Hillary Clinton conspiracy theory.
Meanwhile, Putin’s long-term geopolitical agenda has been greatly aided by curious changes in U.S. foreign policy.
What is there there to lessen any attentive person’s suspicions?
@Greg:
There. Fixed it all up so that it was not disproven Democrat bullshit. You can’t accept the outcome of elections, you can’t accept the outcome of your own investigations and you can’t accept facts. You also pick lousy political candidates. That’s not a good record.
So, what we have now looks like a serious economic downturn, with the stimulus measures normally used to address such a situation already tapped out because we applied them to a recovered economy to create an unsustainable binge. We can’t cut taxes because we’ve already cut them to the point where we were running a one-trillion-dollar annual deficit with a booming economy; we haven’t got much room to cut interest rates because we’ve already done that too, when we should have been slowly raising them for the sake of increased stability. There’s already talk this morning about zero or even negative interest rates.
Blame it on Democrats or a virus if you will. I’ll blame it on a lack of common sense and a failure to learn from past experience.
@Greg: First, this is driven by panic, which Democrats do everything they can to feed. Second, other nations have seen the opportunity to pile on by driving down oil prices to hurt US production. None of this is a result of any economic policy or weakness.
Even in the midst of this drop, Pelosi comes out trying to stoke even more fears and uncertainty. What we CAN be certain of is that Democrats hate this country and will do anything they can to hurt it and benefit from the chaos. NO Democrats do anything to ease fears or anxiety; they only promote it.
The government has lost NO ability to react, even if it should.
@Greg: They have been talking about negative interest rates for more than 4 years, the market took a hit because of an oil war with Russia the futures last night were dismal. Italy locks down 17 million people, Shit that happened over the weekend were picked up by the algorithms, they should be made to unplug the AI https://www.youtube.com/watch?v=UGsfwhb4-bQ
Regular stimulus measures being nearly tapped out, the proposal to fend off recession is to reduce payroll taxes (which fund Social Security and Medicare) to zero for the remainder of the year, and subsidize the fossil fuel industry. It will be interesting to see what the subsequent deficit projection will be, given that we were already ignoring a one-trillion-dollar annual shortfall.
This might be a good moment to consider national marijuana legalization.
March 10, 2020 – Trump pitched 0% payroll tax rate for the rest of the year, White House official says
@Greg: Its easy to say dumb idea, you tell us all the a better one and I am waiting, negative interest rates? Have the media actually stop lying by saying the virus is being handled poorly and we are all gonna die because of Trump?
Whats the plan dude? 2.5 brillion was not enough so they gave more that didnt stop the assholes from allowing AI algorithms to make millions of trades a second.
Compare Chinas numbers of cases in the first month to the US or Italys or Irans.
Now its each states responsibility the feds are there to back them up.
So tell us your better plan, or havent you seen that on your boob tube yet? No just bashing, if its just bashing STFU, we are all in this together we are sick of the mindless bashing.
Everybody must get stoned isnt a plan Bernie.
@Greg: No stimulus is necessary; all that is necessary is assistance to people who may be missing work so they can continue to be paid. Democrats ending their campaign of spreading fear and panic would probably help, too.
@kitt:
Same plan as before: lie until they can grasp power, then blame everyone else for their failures.
@kitt, #24:
It’s humor.
With the stock market, the best individual response may be no response at all. As Ali Velshi wisely advised the other day, “Treat your 401K like you treat your face. Don’t touch it.” What goes down will most likely eventually go back up.
Be informed, but don’t be excessively afraid. Know what’s happening, recognize the difference between necessary and unnecessary risks, and rationally alter your personal behaviors accordingly, to whatever extent is possible.
@Greg: You see Im not, most are not, it is the fund managers and the AI programs that are in control. The American Market intertwined with the global market. Flee to bonds, nope thats were you slowly get bled to death as rates are under inflation, like the banks savings rates.
My FA has not called, he is a new guy my old guy died so he inherited my account. Truth.. I really dont like him, I dont dislike him, he just isnt the old guy whom I chose.
WHO not liking the slight market bounce back declared the Kung Flu a global Pandemic.
The damn UN, the parent organization is , United Nations Economic and Social Council.
The new cases reported out of China is way down. South Korea seems to be getting it under management as well.
I’m afraid the declines in new cases in South Korea and China are probably the result of lockdown measures so severe that they can’t be sustained long enough for the virus to completely die off. We’ll probably know the story on that a couple of weeks after they’ve been lifted. Much depends upon whether it has a seasonal nature, like influenza.
March 11, 2020 – ‘This is not a bailout’: Mnuchin defends Trump plan to rescue firms affected by coronavirus
Oh, please. Of course it is, by definition.
@Greg: The important thing is to not let those with socialist tendencies in charge or we will be one big internment camp like Wilson and FDR imposed ie the China/Italy model.
I dont subscribe to wapoop, just give us the skinny, I heard it was tax relief AKA keep your own money.
@Greg: Democrats are doing all they can to make this as bad as it can possibly be. That’s another reason for them to be swept from all offices.
Partisan politics has little or nothing to do with what’s happening. People need to get the facts and prepare to rationally deal with them. Our entire system is about to be tested. Very few people will be unaffected. It won’t matter what your politics are.
@Greg: It has EVERYTHING to do with the panic. Trump is doing a great job mobilizing the effort to contain and control the virus, even shutting down travel early on, which the Democrats, of course, opposed. How successful he will be will depend on a myriad of factors, not the least of which is how responsible each individual will be if and when they get the virus. Constantly denouncing Trump’s efforts, constantly accusing him and his team of having no clue what to do or how to contain the virus, constantly hyping fears IS the source of the panic.
They don’t offer any better ideas; they don’t provide any help at all. They are less than worthless. If they don’t have any suggestions of how to do better, they should shut up and see how well Trump does. No doubt, they’ll want to impeach him no matter how it turns out.
22,000 died under Obama during N1H1 but the Republicans never politicized it for their own gain or did ANYTHING to spread fear and panic as the Democrats are doing. The entire nation would be far better off if Democrats more mature and respectful to the people. All they care about is winning in 2020 at any cost. I am not articulate enough to find a word to describe how low that is.
@Deplorable Me, #34:
The Obama Administration declared N1H1 a public health emergency on April 26, 2009. That was 6 full weeks before N1H1 was declared by WHO to be a pandemic. There were only 20 known cases inside the United States at the time, and there had not yet been a single N1H1-related death within our borders. Initial funding was requested to deal with the emergency two days later. The infection gradually spread, and on October 24, 2009 Obama elevated the status to that of a national emergency. There really wasn’t much about the administration’s response at the time to politicize.
The reason the Trump administration has been criticized is because they weren’t entirely forthright with the public about the danger coronavirus posed. Many statements were misleading, if not completely wrong. There seemed to be more concern about the economic impact of worrisome information than about the disease itself. The extent of the threat is still being downplayed, resulting in conflicted messaging from official sources.
The issue had to be dragged into the political spotlight to get the appropriate level of action. Witness the fact that we’re still far behind the curve with the distribution of test kits. The criticism began in earnest when the State Department overruled CDC recommendations regarding the return of infected cruise passengers to the United States. Seriously, what were they thinking? Whatever criticism they’re in for has been earned.
@Greg:
And what did Obama, himself, do on that date? He went on TV and told us to wash our hands.
And when did the WHO declare coronavirus to be a pandemic? Today, Comrade Greggie, TODAY, after how many deaths world wide?
Yet the WHO waited until TODAY to declare a coronavirus pandemic, after we have sustained at least 25 deaths. Way to go, WHO!
How much funding?
Yeah, six months later after the pandemic had been declared and over 1,000 Americans had died.
Yet you gritch about Trump.
You’re an idiot, Comrade Greggie.
It kinda seems like you people are the ones who are insisting that this is all a political issue, and you can’t be truthful even when you’re doing that.
How crazy and worse-than-useless is it to be trying to divert attention away from a serious present threat to some bullshit you’re spinning about Obama’s imagined failings 11 years ago?
Reuters, March 11, 2020 – Exclusive: White House told federal health agency to classify coronavirus deliberations
@Deplorable Me: If you read Gregs posts today it is starting to dawn on Greg that there is panic, he is telling us not to panic after posting articles of how we must think it was a hoax. A hoax in spite of the massive mobilization by the Trump administration, the logic was corkscrew at best.
Its being horriby mishandled we believe is the hoax thats driving the dumb herd stampede. The lead gaslighters in the MSM would report this with out an iota of what was being missed by the officials in charge. Back to the anon sources say blah blah blah, some run a day after they were debunked bigly.
He is now projecting it on others, typical rewriting of recent history.
We do have idiots that do not fear the virus because they are young strong and dumb, dont care cause its just old people that are going to die. The broad in Colorado who said if she tested positive would go to a Trump rally anyone with our political leaning that says such a thing needs to get a good hard kick in the brainbox to help lift it back where it belongs.
There are lots of things we dont know about this virus some say 3 feet is a safe distance some 6 to 9 feet. 4 days on a hard surface or 9 days, even the fatality in the states is skewed because of the old folks home cluster being factored in and that isnt an accurate demographic of the population. Before we shut all schools down lets go where there is a cluster and test all the kids in one school are they simply carriers? Will putting them in a daycare because both parents still have to work be any better?
Remove emotion and fear.
But social distancing doesn’t have to be draconian. South Korea has adopted a modern version of the St. Louis model; the country never locked its citizens down or quarantined entire cities, but has still managed to slow the spread of the new coronavirus. In recent days, new infections have leveled off thanks in part to thousands of free daily tests and a coordinated government effort that closed schools, canceled public events, and supported flexible working arrangements. “Without harming the principle of a transparent and open society,” South Korea’s Vice Health Minister Kim Gang-lip told journalists in the South China Morning Post, “we recommend a response system that blends voluntary public participation with creative applications of advanced technology.”
If you test positive quarantine yourself at home unless you require medical help.
We should prepare for its return this coming winter. Should the season abate the spread.
How much easier it was when there was a mommy at home, like during the spanish flu outbreaks to pull off social distancing.
Edit: Oops now its secrecy Greg not 1 offiial is named not fuggin 1 quit with the bashing already!
@Greg: @Greg:
It is not crazy or worse than useless to point out that the very people who were silent on the failures of Obama are the ones shouting the loudest that Trump Man Bad now. That would be you, Comrade Greggie.
So frankly, you need to STFU.
@Greg:
So your defense is that it wasn’t that Obama dawdled in his response, it is that his response was an absolute failure. I hope you aren’t a defense attorney.
The point in harking back to Obama’s performance in these epidemics is to put your criticism of Trump’s response in the proper perspective. Apparently, 22,000 dead is a roaring success but making bold and critical steps to stop the spread of the virus IMMEDIATELY is somehow foolish and incompetent. The enormous hypocrisy aside, it is THOSE opinions that is driving much of the panic… mostly among those who WANT to believe the worst of everything this administration does.
They have been totally forthcoming. They have clearly relayed the risks and the non-risks. We know how it spreads and how to protect ourselves. Once again, in an intentional effort to spread fear and panic, the left takes a few comments meant to reduce fear and panic out of context and make them the entire message. It is tantamount to inciting a riot. It is irresponsible and criminal. Democrats and anyone that supports them should be totally ashamed. People will be harmed and people will die as a direct result of such irresponsibility.
Well… yeah. Because you that actually exploiting it politically aren’t honest enough to admit it.
There are three cases nearby hear in Texas. Someone traveled to Silicon Valley and contracted it, spreading it here. See why travel from China was a great idea, naturally opposed by you Democrats? I wonder, when was the last time Democrats were right about anything. Just look at your miserable choices for President, for instance.
@kitt: Governors Newsome and Cuomo, who would bear some responsibility for a failure to address the crisis, want no part of this panic game the Democrats are playing. It would not benefit them politically, so they don’t want any of that dangerous bullshit to be impeding them handling the crisis. They are a stark and notable difference from Democrat Congresspeople who can and are blame Trump for anything bad that happens anywhere and any time.
We can’t rely on the fact that some idiot like that going to a Trump rally to infect Trump supporters would also infect anyone they interact with, regardless of political affiliation; they simply aren’t that smart and even if they infected 500,000 with such an action, the infection of 30,000 Trump supporters would make it worth it. With that kind of mentality even existing and it not even being strongly reprimanded, are we to believe the Democrats would not exploit the panic for their own ends? Really?
@kitt: I told you long ago the stock market is quite simply legalized gambling.
Old FA vs new FA MATTERS NOT
Find a monkey with a strong arm and buy a couple of pounds of bananas for 98 cents–feed him or her well.
Cheap money has finally hurt us—oil crises and pandemic just accelerated the sell-off that was coming—watch for V bottom around 21,000 and buy judiciously.
Two weeks ago DT noted only 15 infected–one seriously–no worries warm weather will bring an end—-ya think he’ll be a little more concerned tonight?
@Richard Wheeler: He was always concerned, what tells you that he wasnt, offered China help from our experts, before any deaths here.
Now claim its racist to call the Wuhan virus.
The market has a history of come back with in 6 months after crap like this.
I am fine financially I wasnt happy with this months statement wont be happy with next months. Not about to pay through the nose and put er all in annuities and screw over the heirs, then hope to hell the insurance company doesnt go bust.
Long term investments not speculating whats going to be the next big thing.
Oh and a little jab, doesnt look like Mini Mike is going to be president.
@kitt: Also “xenophobic” to call a virus that came from China a “foreign virus”
https://www.newsbusters.org/blogs/nb/nicholas-fondacaro/2020/03/11/acosta-declares-trumps-coronavirus-address-was-smacking
Here we see how Democrats would be handling the crisis:
https://www.breitbart.com/politics/2020/03/11/democrat-response-to-coronavirus-end-trumps-travel-bans-on-china-iran/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+breitbart+%28Breitbart+News%29
Yep, while the disease spreads abroad, the President should not be allowed to restrict travel from source areas. Their plan is to get as much of the disease here as quickly as possible and let the fun begin. But, you know, Trump is incompetent and doesn’t take it seriously. I guess this is how Obama got such an impressive body count.
The left cannot accept the fact that Trump has made all the right moves. In their usual fashion, they have to support everything that is the opposite of what he is doing and, thus, everything that would be making this crisis WORSE.
@Deplorable Me: Trump looked and sounded a bit tired last night he must be working his ass off trying to protect the citizens. Just when I think he has everything covered he hits an angle I didnt consider.
@kitt: He IS working his ass off, concerned with how this spreads and how it negatively affects life. Democrats simply DON’T CARE. There is no other way to put it. They just want to exploit the crisis.
March 12, 2020 – Fed to pump in more than $1 trillion in dramatic ramping up of market intervention amid coronavirus meltdown
“More than”, as in $1.5 trillion.
What does this mean to the average American? In all honesty, I have no clue. Apparently this process has been going on since last October, but has just been very dramatically increased.
Maybe someone who understands could explain to me in simple terms where this money comes from, where it goes, and what the anticipated effects are. I gather from the second link that it has been controversial since it began—the key question at the time being Why do the big banks need cash infusions from the fed when they’re already rolling in profits?
@Greg: Going to the Bond market, shouldnt you look crap up before you make an ass of yourself? All money comes from the same place thin air. Backed by nothing but faith, figures floating around in computer servers.
https://nypost.com/2014/10/12/obamas-4-trillion-gift-to-the-rich/
The theft continues it is why the Fed doesnt want an audit.
@kitt, #48:
I did look it up, and found virtually nothing in the way of understandable explanations. I had about as much success with this as I did when I tried to figure out exactly how credit default swaps work. (I’m far from stupid, and I still don’t know.)
Apparently such information cannot be safely entrusted to simple-minded voters such as myself, who are inclined to worry when the dollars they have worked for and slowly saved begin to be created by the trillions out of thin air to compensate for someone else’s inability or unwillingness to balance their budgets, or for their bad casino bets.
That’s an interesting article you linked, btw.
@Greg: My link explains it a little. Like I said we agree on much its your bashing on Trump for doing exactly as done before thats idiocy.