By Grand Rapids Anonymous
Sunday, March 15, 2020 at 7:53:00 P.M. EDT
Government Panics—from National to Local
GRA: The Fed cut interest rates to zero tonight after it appeared a financial “situation” was developing. When a market loses 28% in 2 weeks’ time, imbalances that have been covered up by a rising market, start to make themselves known—and panic.
Big money has been lost—with the next month looking even more imposing, now that various health departments are making sure businesses cannot remain fully functional. Bills need to be paid, wages earned. My local health department has cut the number of people that will be allowed in an establishment. Capacity will be cut in half.
England is just letting the virus run rampant, hoping an immunity will develop against it. I’m not sure if that’s the answer, but considering the fact that COVID-19 is already plentifully among us (just not officially, because of hard-to-find test kits), all these measures are going to cause some REAL collateral damage.
It’s a race between finding a vaccine and a massive recession/Depression.
The virus is bad—the reaction to it may be worse.
--GRA
By Jerry PDX
Sunday, March 15, 2020 at 10:05:00 P.M. EDT
Fed cuts interest rates to near zero, absolute zero is next. Next step is negative interest rates on our bank accounts which, in essence, means we will be paying banks to hold our money for us. Trump has been pushing for this since he got into office, no surprise there, it’s a bail-out for the big banks and Wall Street. Not that it matters if a Democrat was in office, this would have happened anyways. This move pumps $700 billion more into the markets, on top of the $1.5 trillion of fiat money it injected just before. Guess who pays for this? I'll give you two guesses. This Coronavirus hysteria may well be a camouflage to this additional fleecing of the American middle class. What does this all mean? There’s a lot of opinions and theories but whatever it is, it’s not good:
https://www.npr.org/2020/03/15/816175414/fed-cuts-interest-rates-to-near-zero
“Some people may not like this guy’s style, but I like his information:
https://www.youtube.com/watch?v=NOo0Jc9CTm4
https://www.youtube.com/watch?v=BZ0XV7GZZeI
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5 comments:
Today,our governor shut down bars and restaurants.Whatever the benefit of that move could be,is more than offset by the fact that the patrons of those places will be going to a grocery outlet--where the crowds are bigger and more packed together.
THINK!
--GRA
All being done that will create only more mass panic.
jerry pdx
My place of employment has instituted a "work from home" mandate...indefinitely. Offices and businesses are empty around town, it's kind of creepy. I'm seeing more of a design behind the Coronavirus hysteria: A test run of connected labor, people work from home which eliminates costs of maintaining an office environment. No, it won't completely eliminate onsite workers but this will help corporate (this is corporate, not small business) businesses figure out who is not needed onsite and who is, plus, and even more important, who is not needed at all. The restructuring of the office and elimination of costs will mean mega billions, if not trillions, more flowing up to the richest 1% while the middle working class has even less. I work in an office with a small mall area below and the shops & restaurants are dead, this will cost them a lot of money, the small businesses anyways, the corporate shops will ride it out just fine, some small shops may go under, others may hang on but as business declines they may eventually go out of business anyways, but the corporate executives and billionaires don't care, that means more business for corporate businesses. This is a tool to enhance profit just like when they use their alien invader pawns as tools against us.
Stock market update:
It broke below Thursday's low,which meant more selling.One of the most important numbers to watch is S&P,2348.25.There SHOULD be some coordinated government intervention to boost the market.If not,a return to 1800 S&P is not out of the question.Whether or not,the Federal Reserve says they're going to physically buy stocks,is the question.
Many elements in play here,including systemic risk.Good luck everyone.
--GRA
In 2008 I lost 1/3 of my portfolio. Within two years had not only gained back but even beyond what was lost. Stay the course.
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