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Fed makes emergency rate cut.

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If Obama was president, the republicans over at Fox would be saying that this coronavirus has nothing to do with the economy crashing. That the market was crashing only because of Obama failed policies, but certainly not do to some virus. Republicans would dismiss the virus and claim it was all Obama economic failures.

Which then makes me wonder.....
Maybe, just maybe this Trump crash has nothing to do with some virus. Just maybe this crash was inevitable all along and only a matter of time. Maybe this crash is indeed the failed policies of Donald Trump and the chickens coming home to roost. But you have to admit.... this Trump economy is not strong enough nor stable enough to handle a true crisis. Face it..... this Trump economy is so very unstable and so very weak, with the claimed wonderful performance so very faked, that a simple virus scare can bring the whole thing crashing down.
A simple virus because that is how Trump addresses it. Something that will simply disappear in a week or two.
Yes.... I do believe this market crash was coming all along and has nothing to do with the virus but indeed the result of Trump failed economic policies coming home to roost.
 
Because cutting rates for lending is really going to counter people staying in their home.... this does nothing.
 
sportage said:
Yes.... I do believe this market crash was coming all along and has nothing to do with the virus but indeed the result of Trump failed economic policies coming home to roost.
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I am no fan of Trump for sure, but to say the virus has nothing to do with this is foolish. My wife works in the trade show industry and the fear of this virus is having a MASSIVE effect on her industry. Trade shows are being cancelled left and right.
 
PPT team came in and bought futures starting at around 2:20 pm or so. There's lot going on behind the scene besides rate cut. That's not the only tool they're using. Government has unlimited printing press.
 
ponyo said:
PPT team came in and bought futures starting at around 2:20 pm or so. There's lot going on behind the scene besides rate cut. That's not the only tool they're using. Government has unlimited printing press.
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You can print all the dollars you want, it will not make people get out of their houses and go back to work, it will not re-open foreign supply chains.
 
Dulanic said:
I am no fan of Trump for sure, but to say the virus has nothing to do with this is foolish. My wife works in the trade show industry and the fear of this virus is having a MASSIVE effect on her industry. Trade shows are being cancelled left and right.
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Yup, our office just cancelled a big conference. Price tag likely in the mid to high six figures.
 
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

Nothing in there about propping up stock prices, so what the hell is the Fed doing?
 
IronWing said:
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

Nothing in there about propping up stock prices, so what the hell is the Fed doing?
Click to expand...

Ahh, FOMC probably just forgot.
 
IronWing said:
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

Nothing in there about propping up stock prices, so what the hell is the Fed doing?
Click to expand...


Well if its cheaper for you to borrow money while you are stuck in your house to buy food and shit then fine.
 
TheVrolok said:
I wish it were about a year from now, with some of the rates I'm seeing I'd consider it
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I need it to be after July when I reach full retirement age so I can pull some 401k money out to pay down and refi at the same time. Before then I take a much bigger hit.
I retired about 11 months early than my date.
 
IronWing said:
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

Nothing in there about propping up stock prices, so what the hell is the Fed doing?
Click to expand...

Pumping sunshine up yer ol' skirt with platitudinous bullshit.
 
Blackjack200 said:
You can print all the dollars you want, it will not make people get out of their houses and go back to work, it will not re-open foreign supply chains.
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If we were decent we'd be using that money to support people that can't/shouldn't go to work, not the rich losing some paper wealth on wall street (speaking as someone that is down about 100K in the last week). That is how we keep this from becoming a huge recession and help prevent the spread of the virus.
 
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