Powell is at least being realistic. Seems the Fed will be using emergency lending powers to keep things from falling apart.
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Fed chair Powell: "We may well be in a recession", "no limit" to the amount of money the Fed is willing to put into this economy to keep it going
- Thread starter Sho_Nuff82
- Start date
Powell is at least being realistic. Seems the Fed will be using emergency lending powers to keep things from falling apart.
But we won't do *anything*, won't spend one nickel, to unfuck the people affected by the virus and the shit economy.
Damn, waive/forgive some debts or something for people at least, lol.
Damn, waive/forgive some debts or something for people at least, lol.
the value of the dollar will go to shit. It's already headed in that direction. It's the reason why gold has been pumping again recently. The US government is doing a good job exposing just how dysfunctional the monetary system is.
I'm not worried about the deficits, but printing money could lead to hyperinflation and disaster. You can't just print your way out of this mess.
inflation is flat, has been for a decade
with rates this low not borrowing would be suicidal
This is an extremely limited view of what will happen and this isn't the exposure you think it is.
For that to happen, the value of the dollar would have to decline relative to other currencies. The opposite is in fact happening.
Inflation and interest rates have been very low for a very long time. More inflation would actually be good, because it would get rid of a lot of the debt burden people are carrying in real terms.
Right now the dollar needs to go down. Every other currency is getting slaughtered.
i think there should be zero bailouts for any company with a sufficiently large market cap. idk what that number is, let's say $1 billion?
they've had a decade of profitability and now in this crisis they're taking a loss. yeah? and so is everyone else. boohoo. the fed is doing unlimited QE and using absolutely everything in their toolbox to save these companies, and now they're getting a gigantic bailout in the form of this bill that just passed. business should be allowed to fail. american airlines spent most of their cash flow in the last few years on buybacks. i'm not shedding a fucking tear for american airlines.
the fed's actions are simply propping up the prices of assets and financial instruments -- this will likely result in inflation, which fucks the regular worker, because wages are unlikely to keep up with with even a small increase in regular YoY inflation
for regular people the rule of thumb is to save ~6 months of expenses in the event of emergencies. if you're a small business then that rule is 6-12 months. if you're a billion dollar company, the fed will just print as much money as you need to survive, and congress will bail you out. regular people get...$1200, maybe, as an advance on a tax credit. fucking joke i tell you.
they've had a decade of profitability and now in this crisis they're taking a loss. yeah? and so is everyone else. boohoo. the fed is doing unlimited QE and using absolutely everything in their toolbox to save these companies, and now they're getting a gigantic bailout in the form of this bill that just passed. business should be allowed to fail. american airlines spent most of their cash flow in the last few years on buybacks. i'm not shedding a fucking tear for american airlines.
the fed's actions are simply propping up the prices of assets and financial instruments -- this will likely result in inflation, which fucks the regular worker, because wages are unlikely to keep up with with even a small increase in regular YoY inflation
for regular people the rule of thumb is to save ~6 months of expenses in the event of emergencies. if you're a small business then that rule is 6-12 months. if you're a billion dollar company, the fed will just print as much money as you need to survive, and congress will bail you out. regular people get...$1200, maybe, as an advance on a tax credit. fucking joke i tell you.
The value of the dollar is gonna be so fucked, which means that the jobs we currently have are worthless, like this is a downward cycle
Medicare for All - "Who is going to pay for that?"
Parachute bailouts for corporations who have spent the last decade using profits to initiate stock buybacks to insulate their executives' pockets - "There is no end to the amount of money we willing to pump into this."
Parachute bailouts for corporations who have spent the last decade using profits to initiate stock buybacks to insulate their executives' pockets - "There is no end to the amount of money we willing to pump into this."
"keep it going", Where is it going with no wheels? This is ridiculous, unsustainable, and he's projecting the economy is fucked. The man isn't even an economist and is trying to save the economy with the same top down ideas that ruined it. I knew this would happen when they put him in place because he was put there to be a yes man, the fact that he resisted so long was surprising but he's over his head.
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