Wow, for a “capitalist” eCONomy, our oligarchs sure do get a lot of socialized trillion dollar bailouts : )
I’m sure they’ll get right on passing along those interest rate cuts to our student loans, credit cards, and HELOCs, ha ha.
Parkland victims stalker, 22-year-old Brandon Fleury of Santa Ana, California, sentenced:
One of GOP's finest people; a young man emboldened by agent orange to engage in overt criminal behavior that exhorts violence.
GOP loves little schmucks who take GOP dirty works upon themselves, on their own dime.
Oh boy, another rate cut to buoy the drowning Dow. Follow it up with another tax cut for the rich and we'll have this problem licked in no time.
@3 if Trump had his way the fed wouldn't have had the 1/2 point available to cut.
@1 Oh hey yeah man why aren't the greed-banksters adjusting rates on existing long-term loans in direct response to changes in overnight rates for interbank clearing? Also what do all those crazy words mean, I will only understand a thing to the precise degree to which it is instrumental to my political agenda, and not a second more.
@3 Given that the response of governments in the US at all levels to COVID-19 has been "Why should we close the barn door? Most of the horses are still inside," I don't think we can fault the Fed for doing the only thing the Fed has ever had the power to do (in the short term, at least-- QE takes time).
@4 If Trump had his way, the Fed would have been sold off by now, and all the branch buildings would have his name on the front in 20-foot-high gold-plated letters.
Remember the last time Republicans were in office and we were going to privatize social security to put YOU in charge of your own future then the economy crashed and everyone stopped licking boots and decided Social Security isn't so bad?
@7 Vaguely. But then I also remember a time when the right wing of the Democratic party was in office and Ended Welfare As We Know It, putting YOU in charge of your own income, and all of the lazy poor people went out and got jobs and none of them ended up living in a tent under a freeway.
This is another panic move on the Fed’s part that won’t do fuck all to help the vast majority of Americans, who’re about to get hit with the biggest supply shock this country has seen since the 70s oil crisis.
If the manufacturing numbers coming out of China are real, it’s not a recession, it’s a total eCONomic collapse. Shoving more munnie at the oligarchs in the form of rate cuts is like escorting them to their box seats right before an inferno of bankruptcies and insolvencies burns the theater to the ground.
Yeah markets are down another 2% (as of 10:30am PST), so how did this rate move help anything?
Scotland has had drive-through corona virus testing up and running for the last four days. https://www.bbc.com/news/uk-scotland-51678008
So, even English-speaking people could accomplish the public health method.
They have communoislamo healthcare, so the joke’s on them when they die from SOSHALIZM!1!
@9: That always happens with a rate cut. Always. The stock market is paradoxical because when the rate cut happens, it's an acknowledgment that the Fed thinks the economy is receding even though money is a bit cheaper.
@9 I don't suppose it's occurred to you that gloating about the collapse of capitalism (finally! This time I rilly rilly promise double pinky swear!) in the face of a global pandemic might not be the best look for your political program?
Oh no our neofascist kleptocracy is at stake.
@13 refers to 10.
You do know that this isn't Hollywood, and that shit takes longer than 2 hours to happen, don't you?
Do try to keep up. It's not a good look for you.
I wonder if the Cops are gonna get in more trouble for sharing crash site photos than they would have for killing someone.
@17 Ah, so I'll have to wait just a teensy bit longer for capitalism to collapse. But it's totally right around the corner. Again.
Let me know when we get there, OK? I don't want to miss anything.
If anything a pandemic will entrench an even less humane version of capitalism than we have now.
@21 Capitalism collapsed long ago. What stage of capitalism is it when we just give public land to housing developers and cash to bankers?
@23 The phrase "late stage capitalism" was coined over a century ago, and it was used at the time to describe contemporary conditions, not some theoretical future state.
Not much has changed, has it?
If capitalism did indeed collapse long ago, I find it rather curious that the radical left is still calling for an end to it. And predicting its imminent collapse, too, every time bad news of any kind hits the front pages.
Good Capitalists will soon enough devour themselves. See: Boeing. See also Wall Street -- well, till we toss 'em another 17 TRILLION. Then it's just good Socialism. Just not for the lettle people.
NIce hit piece on NPR featuring Hillary's famous rant on Bernie this afternoon at 4:20 pm Pacific -- and perfect for the Texas, Utah, Colorado and California Electorate, reminding us of her Bitter Defeat and even more bitter condemnation of the (current) Democratic Frontrunner.
Comments are closed.
Commenting on this item is available only to members of the site. You can sign in here or create an account here.