Guest Posted March 14, 2020 Share Posted March 14, 2020 1 hour ago, marioandsonic said: I mean, they spent 1.5 trillion dollars the other day just to try and prop up Wall Street which is the same amount as all student loan debt combined. No they didn’t, and don’t listen to the financial and economic opinions of anybody who continues to peddle this idea. They fundamentally misunderstand what the Fed does day in day out. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 14, 2020 Share Posted March 14, 2020 14 minutes ago, sblfilms said: No they didn’t, and don’t listen to the financial and economic opinions of anybody who continues to peddle this idea. They fundamentally misunderstand what the Fed does day in day out. It does illustrate the point that if the money is needed it can be found and that the "howyagonnapayforit" rhetoric is almost never in good faith. Also shows that if bankers need liquidity they get no interest loans from the central government. If I need liquidity I get kicked to the curb. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 14, 2020 Share Posted March 14, 2020 A kid came to my door and asked for a donation for their hockey trip to Winnipeg and then when I gave it to him he laughed and ripped off his mask and it was Eric Trump the whole time! He ran down the street and high-fived Don Jr and they got in a van and drove off, yelling how they were going to give it to the rich. That is how I know sblfilms is wrong. 3 Quote Link to comment Share on other sites More sharing options...
Guest Posted March 14, 2020 Share Posted March 14, 2020 1 minute ago, b_m_b_m_b_m said: It does illustrate the point that if the money is needed it can be found and that the "howyagonnapayforit" rhetoric is almost never in good faith. Also shows that if bankers need liquidity they get no interest loans from the central government. If I need liquidity I get kicked to the curb. The federal reserve is not the government, and it’s functions like providing liquidity for markets is not in anyway connected to normal government revenue and expenditures. Quote Link to comment Share on other sites More sharing options...
Jason Posted March 14, 2020 Author Share Posted March 14, 2020 16 minutes ago, sblfilms said: The federal reserve is not the government Then why does the president keep tweeting orders at the Federal Reserve chairman? Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 14, 2020 Share Posted March 14, 2020 22 minutes ago, sblfilms said: The federal reserve is not the government, and it’s functions like providing liquidity for markets is not in anyway connected to normal government revenue and expenditures. The arbitrary difference between the federal reserve,a private bank chartered and borded by federal government appointees and the federal government is quite narrow. That it exists as set up by the government, and there is no similar structure for private citizens is the point though. We bend over backwards for the wealthy and powerful by having creating and importantly maintaining a private bank of last resort because we saw what happened in the banking crises in the early 1900's late 1800's, and we didn't think it best to leave the next crisis to another JP Morgan. That we have this set up and maintained while hollowing out institutions, or not having them at all, for regular people is the problem. Quote Link to comment Share on other sites More sharing options...
elbobo Posted March 14, 2020 Share Posted March 14, 2020 18 minutes ago, Jason said: Then why does the president keep tweeting orders at the Federal Reserve chairman? because he is an idiot Quote Link to comment Share on other sites More sharing options...
Guest Posted March 14, 2020 Share Posted March 14, 2020 24 minutes ago, b_m_b_m_b_m said: The arbitrary difference between the federal reserve,a private bank chartered and borded by federal government appointees and the federal government is quite narrow. That it exists as set up by the government, and there is no similar structure for private citizens is the point though. We bend over backwards for the wealthy and powerful by having creating and importantly maintaining a private bank of last resort because we saw what happened in the banking crises in the early 1900's late 1800's, and we didn't think it best to leave the next crisis to another JP Morgan. That we have this set up and maintained while hollowing out institutions, or not having them at all, for regular people is the problem. The difference between the Federal Reserve Bank and the government is not arbitrary or narrow. It is a hugely important distinction that our central bank is not controlled by the political structure. None of the rest of this has anything to do with the Fed operation that people keep pointing to. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 14, 2020 Share Posted March 14, 2020 https://www.usatoday.com/story/travel/airline-news/2020/03/04/coronavirus-donald-trump-assures-public-its-safe-fly/4951826002/ Throwback Saturday Quote Link to comment Share on other sites More sharing options...
MarSolo Posted March 14, 2020 Share Posted March 14, 2020 2 hours ago, CitizenVectron said: A kid came to my door and asked for a donation for their hockey trip to Winnipeg and then when I gave it to him he laughed and ripped off his mask and it was Eric Trump the whole time! He ran down the street and high-fived Don Jr and they got in a van and drove off, yelling how they were going to give it to the rich. That is how I know sblfilms is wrong. Sorry, I don’t buy this story. Eric Trump is not smart enough to use a mask. 1 Quote Link to comment Share on other sites More sharing options...
Jason Posted March 14, 2020 Author Share Posted March 14, 2020 2 minutes ago, MarSolo said: Sorry, I don’t buy this story. Eric Trump is not smart enough to use a mask. Using up all the masks to own the libs. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 15, 2020 Share Posted March 15, 2020 The Fed just slashed interest rates to 0%. Quote The Fed also cut reserve requirement ratios for thousands of banks to zero. In addition, in a global coordinated move by centrals banks, the Fed said the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank took action to enhance dollar liquidity around the world through existing dollar swap arrangements. Quote Link to comment Share on other sites More sharing options...
osxmatt Posted March 15, 2020 Share Posted March 15, 2020 1 minute ago, SFLUFAN said: The Fed just slashed interest rates to 0%. Trump tweet in 3 2 1 Quote Link to comment Share on other sites More sharing options...
Comet Posted March 15, 2020 Share Posted March 15, 2020 8 minutes ago, SFLUFAN said: The Fed just slashed interest rates to 0%. Oh wow Quote Link to comment Share on other sites More sharing options...
Guest Posted March 15, 2020 Share Posted March 15, 2020 I think there is a legit chance of negative rates by June. 2020 is weird, guys. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 15, 2020 Share Posted March 15, 2020 1 minute ago, sblfilms said: I think there is a legit chance of negative rates by June. 2020 is weird, guys. The Swedes just ended their experiment with negative interest rates not too long ago. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 15, 2020 Share Posted March 15, 2020 I wonder if the Fed had a look at some early data and it spooked the hell out 'em? Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 15, 2020 Share Posted March 15, 2020 This will be interesting and bad all in one. We really should have picked Warren for the dems so we could have at least called her lisa and made that simpsons prophecy a reality. Quote Link to comment Share on other sites More sharing options...
silentbob Posted March 15, 2020 Share Posted March 15, 2020 11 minutes ago, chakoo said: This will be interesting and bad all in one. We really should have picked Warren for the dems so we could have at least called her lisa and made that simpsons prophecy a reality. it would be awesome, but there is always have 2024 for a Lisa to step forward. Also close enough for me, but The Simpsons kind of predicted this situation happening just a few years ago Quote Link to comment Share on other sites More sharing options...
Scott Posted March 15, 2020 Share Posted March 15, 2020 People far smarter and more knowledgable than I are currently panicking and saying we're basically fucked. Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted March 15, 2020 Share Posted March 15, 2020 BREAKING: In the wake of the pandemic, the U.S.'s interest rate has been lowered to zero to match the president's. — God (@TheTweetOfGod) March 15, 2020 3 Quote Link to comment Share on other sites More sharing options...
Jason Posted March 15, 2020 Author Share Posted March 15, 2020 Awesome time to be trying to save money. Did have a super practical conversation with my girlfriend though about buying something when we move in together. Quote Link to comment Share on other sites More sharing options...
Ricofoley Posted March 15, 2020 Share Posted March 15, 2020 Seems bad! Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 15, 2020 Share Posted March 15, 2020 1 minute ago, Ricofoley said: Seems bad! Nasty market. Nasty. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 15, 2020 Share Posted March 15, 2020 The DJIA Futures have hit limit down. 1 1 Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 15, 2020 Share Posted March 15, 2020 Bah I should have locked in that 3.5% 3-month GIC last week when I had the chance! Quote Link to comment Share on other sites More sharing options...
Nokra Posted March 15, 2020 Share Posted March 15, 2020 1 hour ago, Jason said: Awesome time to be trying to save money. Did have a super practical conversation with my girlfriend though about buying something when we move in together. A strap-on? 3 Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted March 15, 2020 Share Posted March 15, 2020 1 hour ago, SFLUFAN said: The DJIA Futures have hit limit down. Can you explain what this means to an idiot like me? Quote Link to comment Share on other sites More sharing options...
osxmatt Posted March 15, 2020 Share Posted March 15, 2020 1 hour ago, SFLUFAN said: The DJIA Futures have hit limit down. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted March 16, 2020 Share Posted March 16, 2020 45 minutes ago, marioandsonic said: Can you explain what this means to an idiot like me? It's not allowed to go any lower before the market opens because we have a free market that doesn't have arbitrary rules. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted March 16, 2020 Share Posted March 16, 2020 1 hour ago, marioandsonic said: Can you explain what this means to an idiot like me? 1 hour ago, SlipperySlope said: It's not allowed to go any lower before the market opens because we have a free market that doesn't have arbitrary rules. What he said Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted March 16, 2020 Share Posted March 16, 2020 So basically, the Dow Jones is expected to go down by a very very large amount. Got it. Quote Link to comment Share on other sites More sharing options...
Jason Posted March 16, 2020 Author Share Posted March 16, 2020 So what you're saying is I should put in a market order for Delta stock before I go to bed? Sucks being on the west coast right now with the markets opening 5 AM my time. 1 Quote Link to comment Share on other sites More sharing options...
elbobo Posted March 16, 2020 Share Posted March 16, 2020 lets see how many circuit breakers we can hit today Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted March 16, 2020 Share Posted March 16, 2020 6 minutes ago, elbobo said: lets see how many circuit breakers we can hit today Can only hit 2, if its before like 3:40 or something like that. Quote Link to comment Share on other sites More sharing options...
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