121–130 of 367 posts
As the joke goes, a trillion here a trillion there and pretty soon you're talking about some real money! But in seriousness, the next week is a critical time in the world. I remember sitting in an airport when news of Lehman Brothers collapse was flashing on the TV screens. I'm reminded of that time. We learned later about how Hank Paulson got down on one knee and begged Nancy Pelosi to go along with is plan to save…
Can someone tell me, with a straight face, how this won't cause inflation at one of the worst points to have such?
Earlier quoted context omitted.
>But if there were ever a time for us not to be partisan and tribal, it's now. You say that like both parties are trying to deny testing and are refusing to provide the social safety net for workers to stay home when they're sick. This is very much not a "both sides" discussion. This is: the GOP needs to stop trying to pretend like nothing is wrong and actually DO SOMETHING to prevent this from becoming an even bigge…
I think what gdubs was trying to get across is that sure, there are problems, people to blame, etc. but now is not the time. We have to get our act together and handle the situation. We can't have petty fighting betweeen parties. Now is the time to unite and act. We can fight, argue and point fingers once this is all behind us.
This is time to fall in line or be thrown out of your job.
As the joke goes, a trillion here a trillion there and pretty soon you're talking about some real money! But in seriousness, the next week is a critical time in the world. I remember sitting in an airport when news of Lehman Brothers collapse was flashing on the TV screens. I'm reminded of that time. We learned later about how Hank Paulson got down on one knee and begged Nancy Pelosi to go along with is plan to save…
The dysfunction in our government is due to years of slow decay that have culminated in the present situation. This crisis will hopefully force enough people to realize the problem exists and its scope that we can finally take steps to correct the issue.
Electing a different party won't help, because we still have the electoral college, voter suppression, unlimited corporate donations, the spoils system, seniority in the legislature, and partisan judges on the supreme court. The Democrats are Corrupt and the GOP is corrupt. The two party system and first past the post have to go. We need to amend the constitution to avoid the situation recurring in the future.
People are about to die because our president is a fool, and the fact that he's still in charge is the fault of all of us who voted or didn't vote over the past half century.
In all honesty, I don't see anything in the government changing for this crisis... they can't change. Lots of people are going to get sick and die, and hopefully in the aftermath people will finally be angry enough to repair our country.
Assuming there are enough of us left.
"inject 1.5t" by that do they mean a 1.5t panic bailout for wall street? how can we find 1.5t in the budget but no money for universal healthcare, student loan forgiveness, ubi etc. The markets wouldn't be so important if there were a safety net.
I 100% agree that the Fed's actions are troubling and it's boxed itself into a corner, and has very ineffective tools for what it's trying to do, but ... This injection isn't really comparable because those other things are expenditures, while the 1.5t refers to short-term loans to very creditworthy borrowers. It really doesn't come at the cost of providing universal healthcare.
Earlier quoted context omitted.
the part where it says the fed is a government institution...
Specifically, "the fed is a private bank" is a common refrain among goldbugs and currency conspiracy theorists, and it's not true, no matter how often it's repeated. Not saying the OP is a goldbug or currency conspiracy theorist, but they're the only people I ever see tossing that out so quickly and without any elaboration on what they mean.
> Specifically, "the fed is a private bank" is a common refrain among goldbugs and currency conspiracy theorists, and it's not true, no matter how often it's repeated.
I'd recommend reading The Creature from Jekyll Island. Once you understand the origins of the Fed you will understand that it's an institution founded by public and private individuals and entities to drive profit and leverage the system and taxpayers where it can. It's a creature with public/private/independent parts. It requires no conspiracy because much is known about it, although most people are unaware. JP Morgan, Wells Fargo, Citibank, the government and others founded it together!
"At the end of November 1910, Senator Nelson W. Aldrich and Assistant Secretary of the U.S. Treasury Department A. Piatt Andrew, and five of the country's leading financiers (Frank Vanderlip, Henry P. Davison, Benjamin Strong, and Paul Warburg) arrived at the Jekyll Island Club to conduct a secret meeting to plan the country's monetary policy and banking system, formulating during the meeting the Federal Reserve as America's next central bank.[14] [15] According to the Federal Reserve Bank of Atlanta, the 1910 Jekyll Island meeting resulted in draft legislation for the creation of a U.S. central bank. Parts of this draft (the Aldrich plan) were incorporated into the 1913 Federal Reserve Act." [1]
[1] https://en.wikipedia.org/wiki/Jekyll_Island#Planning_of_the_...
Yet another bailout for wall street. Why couldn't these investors stop buying starbucks every day and save up like the rest of us?
This is not a wall Street bail out. This is a main Street bail out. Every American's life savings is in the stock market... Don't conflate the two please.
I've commented to this effect maybe 4 times now, does no one remember 2008/2009? Does no one remember the credit markets freezing? Forget about the stock market, it's child play compared to what would unfold.
https://www.managementstudyguide.com/credit-market-freeze.ht...
As the joke goes, a trillion here a trillion there and pretty soon you're talking about some real money! But in seriousness, the next week is a critical time in the world. I remember sitting in an airport when news of Lehman Brothers collapse was flashing on the TV screens. I'm reminded of that time. We learned later about how Hank Paulson got down on one knee and begged Nancy Pelosi to go along with is plan to save…
Maybe a lot of people are so skeptical today about the virus because of the crisis fear mongering in 2008.
"inject 1.5t" by that do they mean a 1.5t panic bailout for wall street? how can we find 1.5t in the budget but no money for universal healthcare, student loan forgiveness, ubi etc. The markets wouldn't be so important if there were a safety net.
As the joke goes, a trillion here a trillion there and pretty soon you're talking about some real money! But in seriousness, the next week is a critical time in the world. I remember sitting in an airport when news of Lehman Brothers collapse was flashing on the TV screens. I'm reminded of that time. We learned later about how Hank Paulson got down on one knee and begged Nancy Pelosi to go along with is plan to save…
> The lack of testing will maybe turn out to be one of the biggest scandals of my lifetime. If I had to choose one thing that should change right now, it is this. Aggressive testing of everyone, starting with contact persons, persons travelling from high risk areas and then basically everyone. Would allow a much better understanding of the situation and make any measures way more effective. Other than that, the measu…