They’re all heading to their apocalypse bunkers in New Zealand.
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No worries, folks. The government found $1.5 TRILLION to give to the nervous bankers. They’ll be just fine.
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Since then, has it dropped more than about 10% in a day?
Considering what the headline actually says.
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Way to spoil my fun, dude… 
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Since then, has it dropped more than about 10% in a day?
Apparently not, but someone else may know better. One day seems a little arbitrary to me. Besides, I like games I can win. Stock Market is still too buggy and the DLCs suck.
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I was on pace to retire at 55. I am now retiring at 128.
In my day we just went out to the gravel pit and dug ourselves in so we wouldn’t get in the way of the shovels.
It’s funny because we’ll all die at our desks waiting for a vacation day.
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True. Much PEBKC too.
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That’s a gross misunderstanding of what “the Fed will inject $X dollars” means.
“Inject” means purchase assets (loans, usually) with newly wished-into-existence money. As the loans are paid off, the money comes back to the Fed and is wished back out of existence.
So in practical terms, means folks could owe money to the Fed instead of to whomever originated their student loan. I mean, if you really wanna, but do you?
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Interest-free loans. Dischargeable in bankruptcy.
Unlike the current status quo student debt.
Incidentally, y’know what would make a really effective economic stimulus? Putting a shitload of cash in the pockets of poor people.
Poor people spend, rich people hoard. Money in motion drives economic growth.
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Agree with you on all these points.
But that’s sweet imaginary oranges to sour actual apples. The tweet and you both argue for better ways to disburse central bank money on the back of a headline that no such disbursement occurred.
The soon to be recession should be called the “Trump recession”.
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untrammeled capitalism seems to be doing great! i sure am glad we’re not bothering to entertain other potential options…
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Short term traders need to get out now. There is no bottom to this and we’re going to keep having worst days as the market pitches and roils for the rest of the year.
Those who shorted Tesla may breathe a sigh of relief, as there may be an opportunity to slip out of your bad gamble.
We’ll hopefully only call 2020 the “lost year”, and will see investments start flowing back in 2021 when some shares start looking like a bargain. It will take more than a year to make it back up, as consumer spending fell so bad that it can’t be made up. Their will be winners and losers in the market from this, and some companies won’t survive it.
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In a weird way, the speech may have “worked.” Trumps European travel ban was obviously poorly thought out, since they had to walk much of it back the next day. While there might be some small benefit, it is going to have a real negative effect on airlines and other businesses. And the very fact that the US Government is going to take such measures may have convinced many, including Wall Street that COVID-19 is “real,” and will have serious impacts on our lives and the economy. So we have seen many closures and other actions by many organizations to slow the spread.
Of course the idea that we do the sorts of things necessary to deal with this pandemic and STILL have a stock market going ever-higher is a fantasy only an idiot like Trump could believe. Shit is only beginning to “get real.” It’s going to get worse and it is likely to STAY worse for an extended period of time. We’re not going to get a vaccine for at least a year. So all those closures and “social distancing” measures are the only thing between us and a death toll in the US in the 100,000 range. Even if these measures work and COVID-19 does turn out to decline during the Summer, it could easily come roaring back in the fall, just like the Spanish Flu did in 1918.
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Well I’ve seen rumors the CDC has been activity suppressing news since January on Trump’s order. Doctors being told to not test for covid-19 but apparently some of them did the tests anyways, thank goodness. But I suspect we’ll see the numbers explode next week (approximately geometric progression) at this point. This is gonna get ugly too, no amount of financial policy by the Fed is gonna quell the Wall Street panic. They’re too stupid to adjust or unwilling to do so.
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It’s fair to point out that a $1.5T injection from the fed is not the same as giving out $1.5T. But just like during 2008, they try to obfuscate that they are giving away money by giving it away in the form of loans. When the market gets into trouble there ends up being a liquidity problem. If there’s a liquidity problem and the free market is allowed to sort that out itself it will increase interest rates as people scramble to compete for the money. There is a disbursement, they just run the books in the way to make it look like there isn’t.
If people borrow from the fed at basically 0% when they would have otherwise only survived by borrowing from people charging usury-adjacent rates (let’s say 10%) and they borrow $1.5T for 2 months then the fed has gifted them $25B. Sure, it’s not $1.5T, but it also an awful lot of money.
The fed couldn’t erase student debt for that amount, but what it likely could do is provide relief from monthly payments to that debt during the same period of time it is giving money to the bankers to continue their operations of collecting on that debt.
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Black Monday. I was fully invested and several holdings never came back after that.
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Heh. A small cabaret theatre we started in 1992 did this sketch live, as well as the Catholic Sketch and Nudge, Nudge. So many funneez
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