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Member since: Fri May 30, 2014, 03:30 PM
Number of posts: 19,711

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Historic Fed boost fails to stop Wall Street's virus-driven sell-off

Source: Reuters


(Reuters) - Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across the economy.

After recently cutting interest rates to near zero, the Fed will now lend against student loans and credit card loans, as well as back the purchase of corporate bonds and make direct loans to companies.

Announcement of the extraordinary measures briefly lifted U.S. stock index futures before Monday's trading session began, but the mounting death toll from COVID-19 and a tide of lockdowns more U.S. states quickly sent the main indexes into the red, putting the S&P 500 .SPX on pace for its worst month since World War Two.

“What the Fed did is important because it does help in the credit markets. But it’s not enough from an equity market perspective,” said Willie Delwiche, investment strategist at Robert W. Baird in Milwaukee. “What we now need is leadership out of Congress to pass some sort of stimulus bill, because what the Fed’s doing is relieving some problems, but it doesn’t do enough to solve to solve what’s out there.”

Read more: https://www.reuters.com/article/us-usa-stocks/historic-fed-boost-fails-to-stop-wall-streets-coronavirus-driven-sell-off-idUSKBN21A198


We need a relief from the debt associated with the wall street scam.................and mortgage, renter, student, credit card and card payments...................

Hey Chip, can I call you fucking Chip..........your a fucking idiot and fucking idiot friends.....

Republicans demand Trump set end date date for fighting virus as people keep dying

By Josh Israel -March 23, 2020 1:24 PM

After days of conservative calls for a quick end to social distancing, Donald Trump joined in on Sunday.

Conservatives are fed up with social distancing to slow the coronavirus. After days of them demanding a fixed date for the end of the COVID-19 crisis, Donald Trump basically endorsed their demands on Sunday night.

On Friday, Rep. Chip Roy (R-TX) penned a National Review piece called "America Needs a Date Certain." In it, he wrote that "our government’s response has put thousands of American businesses on the brink of insolvency, and millions are now jobless" and predicts that this will "only continue unless the government provides certainty of action."

"The most important thing we need to do — right now — is to announce a date to signal our economic restart, get folks back to work, and build the confidence we need to get capital flowing," Roy demanded. "Perhaps that date should be around April 1. Perhaps it should be April 15. In consultation with our nation’s health experts, the federal government must announce a date within the coming weeks, no later."

His fellow Texas Republican, Rep. Dan Crenshaw, endorsed the call, tweeting Friday, "We MUST do everything in our power to provide a reasonable, health-informed, date for when Americans can safely return to regular economic activity in their communities."


November 3, 2020 cannot get here fast enough........................

GOP senator defends corporate bailouts: They're just 'a lot of people'

By Dan Desai Martin and Oliver Willis -March 23, 2020 12:23 PM

Big business has traditionally spent the bulk of its free cash on buying its own stock.

Iowa Sen. Chuck Grassley (R) on Monday defended a failed Republican stimulus package that Democrats blocked over the weekend, due to concerns that the bill unfairly skewed in favor of corporations.

From the March 23 edition of "The Hugh Hewitt Show":

SEN. CHUCK GRASSLEY (R-IA): And the other thing is, he [Senate Minority Leader Chuck Schumer] says it's a bailout for corporations. What are corporations? They're a lot of people. Ninety percent of them are probably employees.

And in this tax bill, we have a lot of liquidity for these businesses to keep people on the payroll and we have a big help for small business. Just think of 750,000 restaurant workers going to — probably laid off already. And small business task force has loan programs that are forgivable loans if the, if the restaurants keep their people on the payroll.


And I guess asshole that money can talk.................english....................I never had a dollar bill sitting in class with me dumbshit or a fucking xyz corporation sitting in class assigned to desk......................and to top it all off you said these words of libertarian wisdom............................

Back in 2017, while defending the GOP tax bill, which benefited corporations and the super wealthy, Grassley claimed that assisting investors was more important that helping those who did not put their money into the market.

He claimed those who did not invest their money were instead "spending every darn penny they have, whether it’s on booze or women or movies."

Published with permission of The American Independent Foundation.

Ohio Lt. Gov. Jon Husted: Trump Labor Dept. asked us 'not to release our numbers on unemployment'

Published 1 min ago on March 23, 2020
By David Edwards

Ohio Lt. Gov. Jon Husted (R) revealed on Monday that the Trump administration has asked his state not to release unemployment numbers.

At a press conference with Gov. Mike DeWine (R), Husted said that he could not disclose how many Ohioans had filed for unemployment benefits.

“We have been asked by the U.S. Dept. of Labor not to release our numbers on unemployment,” Husted said. “So, we’re following that guidance.”

The lt. governor went on to acknowledge a problem with the state’s unemployment benefits website.


So your going to follow the guidance of crimnal organization that thinks we are expendable..................unemployment insurance claims dickhead is based on fucking numbers, so that the state can ask the feds for help.....................you and your governor should fucking resign...................

'You always want to do Trump's bidding': Tom Cotton gets shut down as sparks fly in the Senate

'You always want to do Trump's bidding': Tom Cotton gets shut down as sparks fly in the Senate

Published 1 min ago on March 23, 2020
By Sky Palma

During a heated debate on the coronavirus stimulus bill, Sen. Sherrod Brown (D-OH) got into a testy exchange with Sen. Tom Cotton (R-AR), where Brown accused Cotton of doing President Trump’s “bidding.”

During his remarks, Brown accused Sen. Mitch McConnell (R-KY) of skipping town when the House was close to approving a package with sick leave. After Cotton kept interrupting him with inquiries regarding his stance, Brown lost his cool.

“When did the Senate receive that bill from the House?” Cotton asked Brown, cutting him off.

“That’s not the point,” Brown replied, looking flustered. “The point is that –”

“Will the Senator yield?” Cotton interrupted again. “Will you answer my question? When did the House receive that bill?”


Yes, Senator Brown.....................Cotton ball is a trump lackey..................

Here are 5 of the most significant proposals attached to the Senate's coronavirus stimulus bill

Published 55 mins ago on March 23, 2020
By Alex Henderson, AlterNet

After the U.S. House of Representatives passed an economic stimulus bill in response to the damage that coronavirus is inflicting on the economy, the U.S. Senate under the leadership of Sen. Mitch McConnell worked on crafting its own bill. And Roll Call’s Niels Lesniewski has listed five of the things that are being proposed and could ultimately be included in the final version.

According to Lesniewski, one of them is “promoting charitable deductions.” A bipartisan group of senators, Lesniewski reports, is “reviving a proposal to create an ‘above the line’ deduction for contributions to charity. The expanded standard deductions in the most recent tax code overhaul law has led to fewer taxpayers needing to itemize deductions.”

The second of the five that Lesniewski lists is “allergy testing.” Republican Sen. Jerry Moran of Kansas, Lesniewski notes, has “filed an amendment seeking to provide specific coverage for allergy diagnostic testing services under Medicare and Medicaid. Some of the symptoms associated with COVID-19 overlap with allergies.”

The third, according to Lesniewski, is “bond buying by the Federal Reserve.” And the leader of that bipartisan effort is a Democrat: Sen. Robert Menendez of New Jersey. That proposal, Lesniewski writes, would allow the Federal Reserve to “buy and sell investment grade corporate bonds and those issued by entities like state, county and municipal governments” — and none of the bonds would have a maturity under six months.


Let me say that this is Bullshit........................

Alexandria Ocasio-Cortez scorches Susan Collins's 'crocodile tears' after Dems

reject McConnell’s slush fund bill

Published 29 mins ago on March 23, 2020
By Brad Reed

Rep. Alexandria Ocasio-Cortez (D-NY) on Monday dropped the hammer on Sen. Susan Collins (R-ME) after she went on an angry rant against Democrats who rejected the Senate GOP’s stimulus bill.

Reacting to Collins calling Democrats “disgraceful” for voting down the stimulus bill on Sunday, Ocasio-Cortez pointed to the Maine senator’s own record to show that she’s not serious about fighting the coronavirus pandemic.

“Susan Collins can keep her crocodile tears,” she wrote. “She voted and fought HARD to strip pandemic prep funding. She helped drive the lack of preparation that we had leading up to this.”

Ocasio-Cortez then pointed to a Daily Beast report about the role that Collins played in 2009 in removing a proposed additional $870 million in funding for pandemic preparations from the economic stimulus package that was passed in response to the Great Recession.


Hey Collins your just as fucking bad as that other(s) libertarian assholes in the senate and the house that you go and have a sandwich with or a fucking salad........................your partner in crime #Moscow Mitch and others think that renters, people with home mortgage's, student debt, car and credit payments that people like me and millions of others are not fucking worthy of getting a break ......................but your corporate lackeys and oligarchs are fucking worthy..................$1500 dollars isn't worth the fucking paper your corporate lackeys wrote this bill on, while they sat in your office munching sandwiches and eating a salad......................you really a sociopath, you really really are, your as deranged as your leader of your party and that narcissistic asshole trying to turn this issue into a reality tv ratings game................

Manchin erupts into shouting match with McConnell: You're 'more concerned about the health of Wall S

Manchin erupts into shouting match with McConnell: You're 'more concerned

about the health of Wall Street’

Published 57 mins ago on March 23, 2020
By David Edwards

Sen. Joe Manchin (D-WV) called out Senate Majority Leader Mitch McConnell (R-KY) on Monday for being more concerned with propping up the economy than providing supplies to hospitals fighting the novel coronavirus.

“You can throw all the money at Wall Street you want to,” Manchin said after McConnell blamed Democrats for a stalled stimulus bill. “People are afraid to leave their homes. They’re afraid of the health care. I’ve got workers who don’t have masks. I’ve got health care workers who don’t have gowns.”

“And it looks like we’re worried more about the economy than we are the health care and the wellbeing of the people of America,” the West Virginia senator complained.

McConnell interrupted: “The American people are waiting for us to act today! We don’t have time for this! We don’t have time for it!”

“Let me ask you a question,” Manchin implored.


Hey #Moscow Mitch your a fucking asshole and fucking true red libertarian asshole.
You haven't even thought about injecting money into people that paying rent , homes, student debt, credit cards and car payments, or providing a healthcare system to help everyone......................your a fucking disgrace .......................
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