We were unable to load Disqus. If you are a moderator please see our troubleshooting guide.

penpusher • 3 years ago

For the record, some rogue moderator originally deleted my following comment when this article was originally posted. I'm finally putting it back

Trump started today's briefing by saying he is "very happy." Why would a president with a country under semi lockdown say he's "very happy?" Because the Federal Reserve cut interest rates! Great! That's why everybody tuned in!

Then, and I'm not even joking, he spent a couple of minutes giving shout outs to CEOs of corporations for having a conference call with him to assure him they will keep their stores open.

And finally, he scolded the press for "fake news" about the new Google website, waving a press release in the air and saying "I'll let you figure it out."

In other words, he wasted more time and didn't touch a single question any American wanted answered.

Trump is less than useless. He's actually detrimental to the well being of the country.

mavpay • 4 years ago

Wall Street On Parade: A Citizen Guide to Wall Street

◼ 3/14/20 > "The Fed Has Pumped $9 Trillion into Wall Street Over the Past Six Months, But Mnuchin Says 'This Isn’t Like the Financial Crisis'"

Excerpt

On February 12, 2020, the Dow Jones Industrial Average closed at 29,551.42. Yesterday, March 13, the Dow closed at 23,185.62 -– a loss of 6,365.80 points in one month’s time, or 21.54 percent. In 2008, the greatest financial calamity since the Great Depression, the Dow had lost 2,339.60 points or 21.4 percent one month after the frightening events of September 15, 2008 when Lehman Brothers filed bankruptcy, Merrill Lynch had to be taken over by Bank of America, and one day before the U.S. government seized the giant insurer, AIG, because it couldn’t pay the tens of billions of dollars in derivative bets it had made with the mega banks on Wall Street.

On this past Friday morning, in what appeared to be an effort to restore confidence on Wall Street, U.S. Treasury Secretary Steve Mnuchin gave an interview on CNBC. Mnuchin said “there’s lots of liquidity” and “this isn’t like the financial crisis.” But savvy folks on Wall Street, and readers of Wall Street On Parade, clearly understand that there is not lots of liquidity and this is exactly like the financial crisis of 2008 in terms of mega Wall Street banks losing massive amounts of their common equity capital and being on a liquidity feeding tube inserted by the Federal Reserve.

Since September 17, 2019 – six months ago, the Federal Reserve has loaned billions of dollars to Wall Street every single business day that the stock market has been open. This is the first time this has been necessary since the financial crisis of 2008. That fact, in and of itself, makes this very much on a par with the financial crisis of 2008.

Since the Fed began its repo loan operations on September 17, the tally of the Fed’s cumulative loans to Wall Street’s trading firms comes to more than $9 trillion (using the Fed’s own Excel spreadsheet of the data; you have to manually remove the Reverse Repo dollar amounts.)

According to the Fed audit conducted by the Government Accountability Office (GAO), from December 12, 2007 to July 21, 2010, a period spanning more than 31 months during the worst financial crisis since the Great Depression, the Fed’s cumulative loans to Wall Street tallied up to $16.1 trillion.


https://wallstreetonparade....

◼ Wall Street On Parade: "Ongoing Series on the Federal Reserve’s
2019/2020 Bailout of Wall Street"

"The Fed’s Latest Wall Street Bailout Is Not Making It to the Front Pages of Newspapers."
https://wallstreetonparade....

10/15/19 > Democracy Now!

“Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream” ― Book by Aaron Glantz

◼ Part 1: "Homewreckers: How Wall Street, Banks & Trump’s Inner Circle Used the 2008 Housing Crash to Get Rich"
https://www.democracynow.or...

◼ Part 2: “The Federal Government Actually Paid Him: How Steve Mnuchin Profited from the Housing Bust"
https://www.democracynow.or...

◼ 10/19/19 > Reveal | Center for Investigative Reporting Podcast: "Homewreckers"
https://www.revealnews.org/...

MAGA 2020 • 4 years ago

Trump will triumph AGAIN !! COVEFFE !!

Pauddle Of Rudd • 4 years ago

Once again, the Dems will have to come in and fix the mess that the blundering, do-nothing Kons have created.

PVW • 4 years ago

Does anyone have one of those stock market charts from Friday afternoon that Trump signed? It's probably worth a lot on ebay,

MG • 4 years ago

Not really. It's not like physical examples of his stupidity are rare.

PVW • 4 years ago

But with his signature on it? I can't think of a more succinct testimony to his incompetence and his lack of self awareness.

MG • 4 years ago

Well, there is every executive order that he signed. Personally, I like the hurricane map with the sharpie...

Blank • 4 years ago

Metaphor of the day: arsonist sabotages fire hydrant, sets fire to house then blames bystanders for everything.

Sandrag • 4 years ago

I am guessing all the folks that spent yesterday saying what a winner Trump was for the lower interest rates saving the day have moved on to something else today?

frank2 • 4 years ago

full impact is still 6 - 8 weeks away
wait till businesses lose 50% of their skilled workers to self quarantine
hotel/restaurant patronage drops 80%
airplanes 70% empty
40% of small businesses bankrupt/close
DOW to 18,000, maybe 14,000

Pauddle Of Rudd • 4 years ago

But but but Obama--it's all his fault, somehow!!

Guest • 4 years ago
PVW • 4 years ago

As usual you're very confused. Trump was losing in every national poll vs Biden or Bernie long before there was a Corona virus. Just because Trump's done a horrible job and lied about it nonstop doesn't mean there's a lib conspiracy.

someguysarerude • 4 years ago

^ Fools have nothing better to do.

JSul • 4 years ago

Will JP Morgan Chase lower their credit card rates?

Answer: Not in a million years.

Guest • 4 years ago
Guest • 4 years ago
Sandrag • 4 years ago

Strange thing to be proud of, forever guilty, but acquitted anyway by a self-serving GOP party.

someguysarerude • 4 years ago

He's forever a failure as a leader.

None of your BS changes that, troll.

KibaEsq • 4 years ago

And forever impeached. But try to stay on topic

cor508 • 4 years ago

WOW I FEEL SO MUCH BETTER NOW

CORONA VIRUS ALL OVER THE WORLD ARE COWERING IN DARK CORNERS NOW THAT Billionaires and SUCM STREET made BILLIONS over the weekend!

So Blue • 4 years ago

Next, Dementia Don will recommend that YOU pay banks to use your money.

Trump has urged the Fed to make the nation’s interest rates negative, something that has never happened before in the United States. It would mean that savers are literally fined for putting money in the bank while borrowers are paid to take out loans. Europe and Japan have tried negative rates with mixed success.

Sandrag • 4 years ago

They will charge you to store your money so you are paying them.

Guest • 4 years ago
someguysarerude • 4 years ago

Watch and learn, troll.

You should look for other work.

DemsBestStockMarket • 4 years ago

Mr President: The Wharton School called, they want their degree back.

JeffreyAble • 4 years ago

Dow's only down 2200 - about 500 off it's number when President Idiot took the wheel - maybe he can tweet more about Sleepy Joe or something about Obama

Sandrag • 4 years ago

Or maybe he can hire Obama to help him fix this.


==========.........

#WuHanDon will wipe out all of Obama's accomplishments by reducing the DOW to 8000 of 2008 by the end of the week

Guest • 4 years ago
someguysarerude • 4 years ago

Biden will restore while crushing every crass EO Trump has ever issued.

On Day One.

You lose.

So what is Kim Jong Trump going to do about it? You do realize he has been in office for three years.

Guest • 4 years ago

Weak repetitive troll posts. Off to troll Hell you go. Bye, bye.
Last post
"Enough_is_Enough ChasCty_GoodFelon • 3 hours ago
So when will you face the reality that you lost in 2016? You do realize he has been in office for three years."

Sandrag • 4 years ago

Another weak argument. he lost the popular vote and looks like that number is going to be much bigger this time.

someguysarerude • 4 years ago

Only nitwit trolls keep spewing the lie you spew.
You're the only chumps afraid of the truth:

Trump will be gone, and mostly so will you terds.

getitright • 4 years ago

Now...if Trump could only find someone to give him a loan.

disqus_FOUKdpgXiw • 4 years ago

In OHIO, I would open my restaurant, in defiance of the wacky Governor, and begin feeding hungry COPS, and shunning angry POLS.

Sandrag • 4 years ago

And they you would be arrested and forced to stay away from people. Sounds good. you probably deserve a jail sentence for stupidity.

So Blue • 4 years ago

Those wacky cops would arrest you.

getitright • 4 years ago

Sure Jethro.....and ....“If your brains were dynamite, there wouldn’t be enough to blow your hat off.”
Author Kurt Vonnegut Jr.,

BaseRoks13 • 4 years ago

Good and once cases start coming out you'll be liable financially and criminally, not to mention loss of clientele.
Way to stick it to those liberals though!

GrahamCrackers • 4 years ago

Global markets are in freefall... this is a Blacker Monday than last week's Black Monday.

BaseRoks13 • 4 years ago

Italy, far right wing government is failing as are other right wing leaders in Europe and here at home in the USA.
We have seen them lead and they cannot lead to save their lives, literally.

JeffreyAble • 4 years ago

with no where else to go, who will Trump rage tweet at? Market's down over 1000 in futures

BaseRoks13 • 4 years ago

He should rage at all the right wing authoritarian governments.
It seems they're the hardest hit.
Trump's new tactic?
Socialism and lots of it, oh and don't forget QE, effective FedRes Rate of 0%.
And more bailouts for those poor poor corporations and billionaires.
They only made 20% of their net worth off this selloff, how can they survive with the 6 trillion they wiped off the stock market?

BaseRoks13 • 4 years ago

Tic tock Trump.
I warned you to repent. To cease and desist your anti-western mission in favor of a white globalist movement Putin and other right wingers in Europe are pushing.
Now the world markets and economies are at risk and with far right wing leadership at the forefront.
Time and time again far right wing governments are failing

And that's assuming you guys don't try the final solution which is active guerrilla warfare.
Fulfilling your own prophecy of being replaced when there was no risk before except the gradual intermixing of races.
That would've meant all races would be replaced though with new hybrids.
I digress and say, Happy Saint Patrick's Day.

disqus_FOUKdpgXiw • 4 years ago

It is impossible to HAVE a 'White Globalist Movement' because 'White People', as such, are LESS than 4% of the total population of the Earth.

BaseRoks13 • 4 years ago

They're 11.5% not including certain races that in the US identify as White