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Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

cnbc.com

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Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#191

Post by icedchai »

tic_tac wrote: post #108
tw04 wrote: post #69

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…

You can't just conjure the necessary tests up from nothing. Japan has also had problems with testing. No one is trying to "deny testing". It is a work in progress and is indeed ramping up.

Testing is, indeed, ramping up: https://www.cdc.gov/coronavirus/2019-ncov/testing-in-us.html

The problem is it's ramping up to where it should've been weeks (months?) ago. We're way behind.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#192

Post by ceejayoz »

adventured wrote: post #132
Reedx wrote: post #117

Earlier quoted context omitted.

South Korea has been running 10k tests per day since February. The US has run less than 10k in total . That is a colossal failure.

> The US has run less than 10k total. That is a colossal failure. Question claim in fact, although it is persistently being repeated everywhere constantly, for propaganda purposes. Three of the major private lab companies indicate they'll be at a 10,000 combined per day test capacity before the week is out. The US doesn't know how many tests have been run in total nationally. A large volume of tests have been distrib…

> Three of the major private lab companies indicate they'll be at a 10,000 combined per day test capacity before the week is out.

So you think we should celebrate that after a month to get ready, we'll have finally caught up with a country 1/7 our size in testing capacity?

The US is currently testing the smallest percentage of its population of any developed nation: https://twitter.com/nick_kapur/status/1238156462708477958

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#193

Post by jacquesm »

thedance wrote: post #186
jacquesm wrote: post #105

Earlier quoted context omitted.

I don't think you fully understand the subject. This money did not 'bail out wall street', it made sure the bottom did not drop out of the market which would affect pensions and savings plans of very large numbers of people. The thing to worry about is that it did not work .

The number of affected people is pretty large, but it's also worth remembering that about half of American households have no direct exposure to stock markets: no pension, no 401(k) plan, no direct holdings. If you're trying to prop up the stock market you're only directly benefitting, at most, half the people.

Fair enough. But half the people is a substantial number. What bugs me is how short lived the 'up' was. You'd expect more from such a massive injection. All it seems to have done was prop up the market long enough for some laggards to exit their positions as well and then it was back where it all started. Very scary.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#194

Post by atomi »

Accujack wrote: post #124
gdubs wrote: post #13

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…

I'm sure you'll get partisan political comments, but you're correct. I will note that I don't agree with "we" doing anything... our government is rather thoroughly insulated from the will of the citizens of the US by its own design. 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…

We can start by not having a president that continues to peddle disinformation in a time of national crisis. I don't remember any other president in my lifetime being this factually incorrect this many times. Also as a matter of fact both sides are not at the same level in terms of corruption (number of criminal indictments and convictions) in modern white house administrations.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#195

Post by ceejayoz »

chrisco255 wrote: post #189
saati wrote: post #111

Earlier quoted context omitted.

The US doesn't have billions of people, just checking the ones coming from the countries where it's present would have been enough, other countries managed to do it.

They did that weeks ago. Where have you been? They shut down travel from China a month ago. Which countries managed to contain this thing, by the way? Because I see tens of thousands of cases in Europe and Asia and the Middle East, by the way.

Taiwan and Singapore appear to be containing it thus far.

China, too, if you can trust their numbers, and South Korea's look positive after a big starting spike. Each of these countries took early (except for China, but they shut down Wuhan with fewer cases than the US has now), aggressive steps that should be considered a model for others.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#196

Post by malandrew »

tw04 wrote: post #177
allovernow wrote: post #118

Earlier quoted context omitted.

>Ahh, the old cowardly downvote without comment because you don't like the reality of the situation that there is one party that's very much to blame People are probably downvoting silently this time because explaining to you that you're obliviously consuming propaganda is one step deeper into flamewar territory which is unpopular on HN (and against the rules). Case in point? Media reports that bill forcing employers…

>Case in point? Media reports that bill forcing employers to provide sick leave failed to pass because of evil Republicans. What you won't see on the news is the nuance that such a bill can't be passed without possibly bankrupting small businesses. The bill literally includes the funding to pay for sick leave. That's why it's a FUNDING bill - I think you're confused about who is being mislead by propaganda. Meanwhile…

The full text has not yet been published on congress.gov to verify who is paying and I can't find the full text elsewhere.

https://www.congress.gov/bill/116th-congress/senate-bill/341...

https://www.congress.gov/bill/116th-congress/house-bill/6150...

However, the press release from Murray and DeLauro makes it sound like businesses are paying: https://www.help.senate.gov/ranking/newsroom/press/coronavir...

If you have a primary source that shows that government, not businesses, are paying for the costs of sick leave as it relates to S.3415 and HR.6150, please share it.

I also can't find a single search result that includes the term abortion as it relates to either S.3415 or HR.6150.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#197

Post by Alex3917 »

tw04 wrote: post #69
gdubs wrote: post #13

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…

>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…

> the GOP needs to stop trying to pretend like nothing is wrong and actually DO SOMETHING to prevent this from becoming an even bigger disaster.

The DNC and the Democratic media have literally spent the last several months lying about Medicare for All.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#198

Post by sytelus »

So here's the thing: 80% of the population doesn't own stock. When fed pumps such massive money to prep the stocks, where does that money end up? I guess the idea is that then we pump the stock so companies continue to hire people so unemployment remains low. Considering the vast majority of jobs are low paying, if not outright minimum wage jobs, this means these trillions of dollars of fed charity is basically meant for nothing but making sure people gets paid minimum wage for next couple of months. On the other hand, if US government equally distributed 1.5T to each citizen then each person would get $5000 which is about 1/3rd of minimum wage income for a year. That seems like far better deal than trying to keep pumping the stock.

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#199

Post by kirykl »

kylebenzle wrote: post #139
mamon wrote: post #131

Earlier quoted context omitted.

>> They are providing short-term loans If I want to give my friend a loan, I need to earn that money first by working hard. FED does not conduct any profitable activity that would earn them any money, they DO PRINT that money from thin air.

Why do people keep telling the lie that the FED "does not print money"? As you say, these "loans" are the FED printing $1.5t, no other way to look at it.

Essentially its countering threat of massive deflation with some inflation

Re: Fed to inject $1.5T to prevent ‘unusual disruptions’ in markets

#200

Post by jerry1979 »

polote wrote: post #164
gdubs wrote: post #13

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. Testing more people is not going to change anything, this virus is so easy to transmit that we should take for granted that we will catch it anyway. What we can do instead is realize that we are facing something big and protect vulnerable people from it by asking them to stay at home and create a system to send them food safel…

I think testing might be important to epidemiologists and public policy makers. It's probably why Dr. Fauci at the CDC was saying he is in favor of proactive testing.
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