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Started By
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re: Reuters: Republican leader McConnell says another coronavirus bill is coming
Posted on 4/3/20 at 5:53 pm to BennyAndTheInkJets
Posted on 4/3/20 at 5:53 pm to BennyAndTheInkJets
Also, my very limited macro finance brain has always comforted myself regarding the US debt situation with the principle of “if you owe the bank $1 million, they own you, but if you owe the bank $1 billion then you own them.” Coupled with the most dominant military force ever, am I an idiot in thinking we should not look at national debt like consumer debt where the bigger the number the worse it it but rather in relative terms to the rest of the world and their capacity to call said debt in without triggering economic mutually assured destruction due to the intertwining of the world economy ?
Thanks, I’ll hang up and listen. Don’t let them run you off.
Thanks, I’ll hang up and listen. Don’t let them run you off.
This post was edited on 4/3/20 at 5:58 pm
2
Posted on 4/3/20 at 5:54 pm to MsHoghunter
quote:
This won't have any effect on inflation.
Just replace how you measure it with the value of fidget spinners and third generation iPads and you’re set.
Posted on 4/3/20 at 5:56 pm to William Stephenson
quote:
Mitch McConnell said on Friday the U.S. Congress will work on another coronavirus relief bill, with healthcare topping the list of priorities
I heard the president say another Bill was coming and it would involve infrastructure. This is really starting to piss me off.
This is no time for more extra spending.
Posted on 4/3/20 at 5:56 pm to boosiebadazz
quote:
What’s your take on all of this? Mostly the impact on the markets long- term
Short and sweet because I'm drunk after sleeping ~2-3 hours a night during March to today.
I think the depth of this downtown will be shocking to everyone.
The duration I have no insight into, talk to an epidemiologist.
The Fed, Treasury, and Govt have done shockingly well so far. The $350bn SBA loan program will be milked in a month.
The $454bn lending program can be levered "10x" by the Fed to $4.5tn. That 10x number Mnuchin and Powell keep saying is fake. They can bring it to 100x if they want to. But the problem is the amount of collateral to buy.
I think we're already past Sep-Oct of 2008 in 2 weeks if March. I think we're now in the Nov-Mar slow bleed, but it'll turn faster.
Long term... I have a lot of expectations but I'll need to be sober for that.
At this point - the Fed has fixed the financial plumbing, credit markets are finding their bottom, and equities are a little ways off.
Posted on 4/3/20 at 5:59 pm to William Stephenson
There are two more coming. 1-3 were relief bills. 4 and 5 will be recovery. Will possibly be a 6th if needed.
Posted on 4/3/20 at 6:00 pm to AUFanInSoCal
quote:
I'm hoping it's the home mortgage forgiveness act.
But only if you make less than $75k and meet certain demographic requirements.
Because successful people still have to pay their bills and get penalized when they don’t.
Posted on 4/3/20 at 6:00 pm to tigers win2
quote:
There are two more coming. 1-3 were relief bills. 4 and 5 will be recovery. Will possibly be a 6th if needed.
See. This guy/girl should post more.
Posted on 4/3/20 at 6:02 pm to Big Scrub TX
quote:More like 20% and counting, not to mention the economic dropoff will add a few trillion. Trump is going to get us to $30 trillion before his first term is over.
Plus, we've only increased the debt like 10% with this virus stuff. If an "avalanche" was your worry, you're pretty late to the party.
Posted on 4/3/20 at 6:02 pm to boosiebadazz
quote:
am I an idiot in thinking we should not look at national debt like consumer debt where the bigger the number the worse it it but rather in relative terms to the rest of the world and their capacity to call said debt in without triggering economic mutually assured destruction due to the intertwining of the world economy ?
Your thoughts are 100% correct. Its monopoly money.
Bonds that are bought by central banks that don't require reserves are fake numbers on a screen.
Edit: US Treasury bonds that are bought by foreign governments or monetary funds are the safest reserves they own
This post was edited on 4/3/20 at 6:07 pm
Posted on 4/3/20 at 6:04 pm to JuiceTerry
quote:And if Princess Slack Jaw Pelosi has her way with the new bill:
*posted from my iPhone
*posted from my Obamaphone2
Posted on 4/3/20 at 6:08 pm to AUFanInSoCal
quote:
I'm hoping it's the home mortgage forgiveness act.
Will that also apply to my HELOC? Do I get to wipe out the current debt and start borrowing again?
Posted on 4/3/20 at 6:14 pm to BennyAndTheInkJets
quote:
Explain in any manner using data post the 1970s in any developed market and not some ridiculous academic textbook why it will.
Is it weird that the guy asking for non academic data on inflation post 1970 also uses the academic definition of inflation?
Posted on 4/3/20 at 6:15 pm to William Stephenson
money machine go brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Posted on 4/3/20 at 6:20 pm to wutangfinancial
quote:
it weird that the guy asking for non academic data on inflation post 1970 also uses the academic definition of inflation?
quote:
wutangfinancial
Not only do I respect the cognitive dissonance call out but I respect the username in which is was conducted.
Point sir
Posted on 4/3/20 at 6:22 pm to boosiebadazz
quote:
boosiebadazz
Alright man I'm going to take my next 3 month break from TD amd sleep to get back to work.
But good seeing a username I recognize from the Russian, Doc, Wiki days. Take care bro
Posted on 4/3/20 at 6:23 pm to Malik Agar
quote:
Samsung
I'm just joshin wit uPosted on 4/3/20 at 6:28 pm to mmcgrath
quote:
More like 20% and counting, not to mention the economic dropoff will add a few trillion. Trump is going to get us to $30 trillion before his first term is over.
I love this game. Prior to Corona what specifically should he have cut to reduce debt?
Guaranteed you’ve dodged this question multiple times even as a progressive.
Posted on 4/3/20 at 6:29 pm to BennyAndTheInkJets
I always respect condescending douchebags that project. Enjoy your nap. Kisses.
Posted on 4/3/20 at 6:31 pm to William Stephenson
Is this the one that Nancy and Biden told the Dems they'd have their chance to add in all of their crap that has nothing to do with coronavirus?
Prepare for a political crapshow.
Prepare for a political crapshow.
This post was edited on 4/3/20 at 6:32 pm
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