cancel
Showing results for 
Search instead for 
Did you mean: 
sdholloway56
Senior Advisor

While FOX had you fretting about a Target store

https://apnews.com/21f905f0922119534919a9c0effbe46f

(Mostly) white folks looted $600B.

10 Replies
sdholloway56
Senior Advisor

Re: While FOX had you fretting about a Target store

Where's EWG when you need 'em?

jennys_mn
Veteran Advisor

Re: While FOX had you fretting about a Target store

More inequality in America - this one being sponsored by our government.

I want to know, what specifically the government is doing to keep the stock market up.  This is Trump’s baby - the stock market is the economy.  

It’s obvious that something is happening to keep the stock market floating.  The gains in the market seem to all happen after hours, on light trade.  I want to know who is buying this, and with what money.  We will probably never find out, but our Republican friends, who were all in an uproar about the “fake” stock market when Obama was in office, is now not uttering a word.  Now it seems, the stock market “is” the economy.  Our “great” leader has spoken, and made it so....

Jen

jennys_mn
Veteran Advisor

Re: While FOX had you fretting about a Target store

And the purpose of these loans, that the bulk of will not be paid back, was what?  So the company could stay in business?

Or was it to skew our unemployment figure, to make it look like America was getting back to work?

My guess, is it had for more to do with the latter statement, than the former, especially taking into account the secrecy of where the money went.  America should be outraged, but the Trump supporters on here are OK with it, like everything else Trump does.   It’s OK for Trump to do - don’t get - never will... 

Jen

sdholloway56
Senior Advisor

Re: While FOX had you fretting about a Target store

Well..... the surge from 9/19 to 2/20 was totally driven by an flood of Fed liquidity. And then the tear from March until Thursday. I'm not sure they even have to intervene to get the crowd and the bank trading desks to jump in.

There do have to be limits somewhere. In the Sep-Feb surge, even though the economy was slowly stalling you could still make jabber about the great economy yada yada (the market goes up because the economy is great because look at the market).

No sane person thinks there's going to be a V shaped recovery here*- I think the Powell assessment will turn out to be optimistic but it was dour enough. And it certainly is optimistic unless the 'rona "just goes away next week."

Of course we are so forked- even as that plays out one side will be whining about shutdowns, even if there aren't any, and its not our fault, its the other guys. Hoax. Justtheflu.

*curiously, "republicans" tend to be pretty optimistic about the economy and market. Living inside the bubble will render you not sane.

sdholloway56
Senior Advisor

Re: While FOX had you fretting about a Target store

A foundational not sane thought is that the economy would have been fine but for the shutdowns.

Of course you have to believe something when your cult has bungled things so massively.

sdholloway56
Senior Advisor

Re: While FOX had you fretting about a Target store

Real U1 unemployment is 16-18%.

Continuing claims barely budged last week and there were 1.5M new claims.

sdholloway56
Senior Advisor

Re: While FOX had you fretting about a Target store

I'm pretty well nigh certain that the Fed did not entertain the notion that the market would go bat***** crazy when they said they'd provide unlimited economic support.

That created another problem- a stock bubble- which is not what you want in the midst of an epic economic crisis.

The world where the QQQ goes to new highs when you're looking at at least a year or two before the economy experiences any net growth is not a sane one.

gurly3801539
Advisor

Re: While FOX had you fretting about a Target store

I may be wrong but the EWG  may not be able to get that info.  My understanding is the PPP is a government guaranteed loan made through private banks, not a direct government loan or payment like farm program. Not a lawyer but I think banks would be in a heap of trouble giving information on who got loans. 

sdholloway56
Senior Advisor

Re: While FOX had you fretting about a Target store

I was joking about EWG.

This is other than PPP.

I don’t have a problem when private loans to legitimately small businesses are government guaranteed like SBA loans.

We’re talking hedge funds, REITs, a lot of big players who got bailouts.