Fed makes emergency rate cut.

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Ken g6

Ken g6

Programming Moderator, Elite Member
Moderator
Dec 11, 1999
16,695
4,658
75
Really, the economy should slow down during a pandemic. People shouldn't go out to packed venues like concerts, movies, or maybe even restaurants. (Though they say that's sufficient separation.) If people are sick they should stay home, not go to work or do non-essential entertainment stuff.
 
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JSt0rm

JSt0rm

Lifer
Sep 5, 2000
27,399
3,948
126
Ken g6 said:
Really, the economy should slow down during a pandemic. People shouldn't go out to packed venues like concerts, movies, or maybe even restaurants. (Though they say that's sufficient separation.) If people are sick they should stay home, not go to work or do non-essential entertainment stuff.
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Well at least the debt will be at a low interest rate...




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K1052

K1052

Elite Member
Aug 21, 2003
52,635
46,324
136
Ken g6 said:
Really, the economy should slow down during a pandemic. People shouldn't go out to packed venues like concerts, movies, or maybe even restaurants. (Though they say that's sufficient separation.) If people are sick they should stay home, not go to work or do non-essential entertainment stuff.
Click to expand...

In a sane political environment sure and the government would decisively act to provide direct financial assistance for those sectors impacted. Instead we're going to get a combination of lies, misinformation, blame, and inaction. In the meantime there is a growing risk that major portions of the economy will simply evaporate as demand disappears due to people staying home.
 
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UNCjigga

UNCjigga

Lifer
Dec 12, 2000
25,575
10,262
136
I forget most of my undergrad macroeconomics, but isn’t there a good chance this can fuck us over if the global economy still crashes and all that free money is out there? Not just talking hyperinflation, I thought there were other risks.

Half a point seems desperate—should have started with a quarter point if they can.
 
MomentsofSanity

MomentsofSanity

Lifer
Jan 25, 2011
17,076
9,554
146
UNCjigga said:
I forget most of my undergrad macroeconomics, but isn’t there a good chance this can fuck us over if the global economy still crashes and all that free money is out there? Not just talking hyperinflation, I thought there were other risks.

Half a point seems desperate—should have started with a quarter point if they can.
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What you think prematurely firing all the arrows in your quiver is a bad thing?

Pshaw. This is Trumpenomics. Just make shit up and it will work!
 
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Zorba

Zorba

Lifer
Oct 22, 1999
15,613
11,255
136
UNCjigga said:
I forget most of my undergrad macroeconomics, but isn’t there a good chance this can fuck us over if the global economy still crashes and all that free money is out there? Not just talking hyperinflation, I thought there were other risks.

Half a point seems desperate—should have started with a quarter point if they can.
Click to expand...
This is what happens when a demagogue takes over the government and systematically destroys it's functionality. He is going to lead us into a massive outbreak and recession as he forces the CDC, FDA and the Fed to bend to his will.

The sad thing is voters won't learn shit. Unless there is a massive change in the GOP all future GOP nominees will be just like him.
 
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J

Jhhnn

IN MEMORIAM
Nov 11, 1999
62,365
14,685
136
Nothing to see here, folks. Everything is fine. No bubble. No bubble! The fundamentals of the economy remain strong! Blah-blah-blah.
 
T

TheVrolok

Lifer
Dec 11, 2000
24,254
4,092
136
Zorba said:
This is what happens when a demagogue takes over the government and systematically destroys it's functionality. He is going to lead us into a massive outbreak and recession as he forces the CDC, FDA and the Fed to bend to his will.

The sad thing is voters won't learn shit. Unless there is a massive change in the GOP all future GOP nominees will be just like him.
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Even better, there's a reasonable chance that when the shit really hits the fan due to Trump's abysmal economic policy, there will be a Democrat in the White House at which point Republican machine will place all the blame squarely on the Democrats, and, millions upon millions will believe it.
 
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D

[DHT]Osiris

Lifer
Dec 15, 2015
17,370
16,645
146
JSt0rm said:
lol the market is gonna tank anyhow. Then what?
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Well, if a Democrat was in office, they would have intelligently spurred growth in the economy enough that you could back off some of those 'halt the recession' levers, that way you can keep them in your back pocket when a crisis such as COVID-19 comes along.

Unfortunately, we have Trump in the office, so he's been pulling those levers to the breaking point in a vainglorious attempt to double the DOW during his 4 year term, consequences be damned.

If he had it his way, he'd inverse the interest rate just to watch the DOW hit 40k.
 
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Commodus

Commodus

Diamond Member
Oct 9, 2004
9,215
6,820
136
The market seems to be reacting correctly to this -- people know this is just an attempt to prop up an economy that's hitting a rough patch, and they're not fooled.

It'll still be interesting to see what happens if/when the economy is still in the pits when debate season comes around (assuming Trump doesn't chicken out). What does Trump do when even he can't lie about the lousy economic numbers? Oh, I'm sure he'll try to pin it on Democrats, but it'll give his rival so much fodder.
 
SteveGrabowski

SteveGrabowski

Diamond Member
Oct 20, 2014
8,956
7,666
136
MomentsofSanity said:
What you think prematurely firing all the arrows in your quiver is a bad thing?

Pshaw. This is Trumpenomics. Just make shit up and it will work!
Click to expand...

It'll be the fault of the Democrats for Biden's Super Tuesday surge, people will be scared about the old guy. Or if Sanders has a big Super Tuesday it'll be the fault of the Democrats because *SOCIALISM*
 
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SteveGrabowski

SteveGrabowski

Diamond Member
Oct 20, 2014
8,956
7,666
136
Commodus said:
The market seems to be reacting correctly to this -- people know this is just an attempt to prop up an economy that's hitting a rough patch, and they're not fooled.

It'll still be interesting to see what happens if/when the economy is still in the pits when debate season comes around (assuming Trump doesn't chicken out). What does Trump do when even he can't lie about the lousy economic numbers? Oh, I'm sure he'll try to pin it on Democrats, but it'll give his rival so much fodder.
Click to expand...

He'll lie about the economic numbers.
 
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B

brycejones

Lifer
Oct 18, 2005
29,873
30,673
136
UNCjigga said:
Hmm... doesn’t seem to be working yet...

c8c5054afa6e3d11be6ed8822e1617ab.jpg
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Need to cut 2 full points now! Print more money, must cut taxes for the rich so they can "invest". Need to pass a stimulus package that includes tax breaks for private jets and yachts.
 
ShookKnight

ShookKnight

Senior member
Dec 12, 2019
646
658
96
2016 - 2020; When Morons Ruled

Christ on a Cross... is there anything that this man touches that won't turn to shit? Like, what would happen if Trump touched shit?
 
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