Another Wall Street Giveaway?

You think $1 million loaned tonight, repaid tomorrow morning, re-loaned tomorrow night repaid Monday morning, re-loaned Monday night and repaid Tuesday morning is "Increasing or increased in quantity"?
Why has it been necessary for the New York Fed to repay these "cumulative" loans since last September?

These Are the Banks that Own the New York Fed and Its Money Button

"The New York Fed has now pumped out upwards of $3 trillion in a period of 63 days to unnamed trading houses on Wall Street to ease a liquidity crisis that has yet to be credibly explained.

"In addition, it has launched a new asset purchase program, buying up $60 billion each month in U.S. Treasury bills.

"Based on the continuing escalation of its plans, it appears to be testing the limits of what the public will tolerate.

"We thought it was time to answer the question: who exactly owns the New York Fed and its magical money spigot that can pump trillions of dollars into Wall Street at the press of a button."
Its-Time-to-Take-Away-the-New-York-Feds-Money-Button-1.jpg

Why has it been necessary for the New York Fed to repay these "cumulative" loans since last September?

You're so clueless. The Fed is loaning, not repaying.

"We thought it was time to answer the question: who exactly owns the New York Fed

The Fed is part of the Federal government.
What does this tell you?
Loan-Loss-Reserves-for-U.S.-Banks-Versus-New-York-Fed-Banks-as-of-Q4-2019.jpg

New York Fed Has Allowed Dangerous Wall Street Banks to Have Lower Loan Loss Reserves than at time of 2008 Crash
 
Don't you have toilets to scrub in Wuhan?
I don't have any debts to worry about.
Jubilee.jpg

A Debt Jubilee is the Only Way to Avoid a Depression - CounterPunch.org

"Massive social distancing, with its accompanying job losses, stock dives and huge bailouts to corporations, raises the threat of a depression.

"But it doesn’t have to be this way.

"History offers us another alternative in such situations: a debt jubilee..."

"The word 'Jubilee' comes from the Hebrew word for 'trumpet' — yobel.

"In Mosaic Law, it was blown every 50 years to signal the Year of the Lord, in which personal debts were to be canceled.

"The alternative, the prophet Isaiah warned, was for smallholders to forfeit their lands to creditors: 'Woe to you who add house to house and join field to field till no space is left and you live alone in the land.'"

This shit again. Whatever. You're fucking ignorant.
 
And there it is....George wants to attack a bill that will help businesses stay in business, and provide American's with a little stipend to help pay the bills, and liberals like this buffoon want to distract by attacking Trump for being wealthy...
Based on what's been revealed so far, McConnell, Schumer, Pelosi, and Trump have crafted a deal that will make the US unrecognizable after this pandemic disappears.

The wealthy will prosper just as they did after the Great Recession, and a majority of Americans will fall deeper into debt.

Compare that reality to 1940-41 when the federal government was spending about 15% of total US GDP, and by the end of 1942 government spending made up 40% of GDP.

WWII economic war mobilization reached 70% of GDP by 1944, and that's what is needed today.

Medicare for All, 80% of hourly wages paid until the virus is defeated, an additional $200 a month for SSA benefits for the next 20 months instead of increasing the net worth of billionaires like Trump.

https://worldfinancialreview.com/a-...5wiCITFTYRFhQRlM2zNs7rMmCb5p4nm_HBjmxulyoHQgg

"The US central bank, the Federal Reserve, has provided at minimum and within one week, more than $2.2 trillion.

"That’s to pre-emptively bail out the US banking system and ‘make whole’ thousands of private investors, often billionaires!

If the Federal Reserve can bail out the banks even before they fail to the tune of $2.2 trillion so far—why can’t Congress bail out Main St. and working class families with at least a similar amount?

"And that’s just to start.

"We’ll need another $1-$2 trillion before it’s over.

"That total will require a doubling of US government spending from 20% to 40% as a share of GDP
."


I'm confused George....First you seem to say that the bill is bad because it's too much, then you say that they should have done more....Which is it?
 
You think $1 million loaned tonight, repaid tomorrow morning, re-loaned tomorrow night repaid Monday morning, re-loaned Monday night and repaid Tuesday morning is "Increasing or increased in quantity"?
Why has it been necessary for the New York Fed to repay these "cumulative" loans since last September?

These Are the Banks that Own the New York Fed and Its Money Button

"The New York Fed has now pumped out upwards of $3 trillion in a period of 63 days to unnamed trading houses on Wall Street to ease a liquidity crisis that has yet to be credibly explained.

"In addition, it has launched a new asset purchase program, buying up $60 billion each month in U.S. Treasury bills.

"Based on the continuing escalation of its plans, it appears to be testing the limits of what the public will tolerate.

"We thought it was time to answer the question: who exactly owns the New York Fed and its magical money spigot that can pump trillions of dollars into Wall Street at the press of a button."
Its-Time-to-Take-Away-the-New-York-Feds-Money-Button-1.jpg

Why has it been necessary for the New York Fed to repay these "cumulative" loans since last September?

You're so clueless. The Fed is loaning, not repaying.

"We thought it was time to answer the question: who exactly owns the New York Fed

The Fed is part of the Federal government.
What does this tell you?
Loan-Loss-Reserves-for-U.S.-Banks-Versus-New-York-Fed-Banks-as-of-Q4-2019.jpg

New York Fed Has Allowed Dangerous Wall Street Banks to Have Lower Loan Loss Reserves than at time of 2008 Crash

What does this tell you?

They had low losses.
 
You'll get no argument from me. This is complete bullshit. Hypocrisy at its finest.
Coronavirus War Bonds...:omg:

"It’s also time for the Federal Reserve Bank and US Treasury to not just bail out the bankers, but help bail out Main St.

"Instead of just buying bonds held by the rich and investors at subsidized prices, it should raise additional money by issuing special Coronavirus War bonds, the proceeds from which must be earmarked for direct spending for Main St. only—i.e. for bailing out working and middle class families losing income, losing their homes and apartments, losing their autos, and preventing small businesses of 100 employees or less from going bankrupt.

"I’m not talking about loans, but about grants to working families and businesses."

https://worldfinancialreview.com/a-coronavirus-economic-war-mobilization-plan/
 
I'm confused George....First you seem to say that the bill is bad because it's too much, then you say that they should have done more....Which is it?
I believe the response so far has done too much for the richest one percent and far too little for the 99%. Perhaps that will change as the pandemic spreads across the heartland?
 
I'm confused George....First you seem to say that the bill is bad because it's too much, then you say that they should have done more....Which is it?
I believe the response so far has done too much for the richest one percent and far too little for the 99%. Perhaps that will change as the pandemic spreads across the heartland?

The Heartland is where your food comes from nitwit.
Why do Commies always root for total death and destruction?
 
The Heartland is where your food comes from nitwit.
Why do Commies always root for total death and destruction?
How would you know where my food comes from, Loon?
245868display.png

San Joaquin Valley - Wikipedia

"The San Joaquin Valley produces the majority of the 12.8% of the United States' agricultural production (as measured by dollar value) that comes from California.[7]

"Grapes—table, raisin, and to a lesser extent wine—are perhaps the valley's highest-profile product, but equally (if not more) important are cotton, nuts (especially almonds and pistachios), citrus, and vegetables.

"The San Joaquin Valley has been called 'The food basket of the world', for the diversity of its produce. Walnuts, oranges, peaches, garlic, tangerines, tomatoes, kiwis, hay, alfalfa and numerous other crops have been harvested with great success. DeRuosi Nut, a large walnut processing plant in Escalon, has been in the valley since 1947."
 
Don't you have toilets to scrub in Wuhan?
I don't have any debts to worry about.
Jubilee.jpg

A Debt Jubilee is the Only Way to Avoid a Depression - CounterPunch.org

"Massive social distancing, with its accompanying job losses, stock dives and huge bailouts to corporations, raises the threat of a depression.

"But it doesn’t have to be this way.

"History offers us another alternative in such situations: a debt jubilee..."

"The word 'Jubilee' comes from the Hebrew word for 'trumpet' — yobel.

"In Mosaic Law, it was blown every 50 years to signal the Year of the Lord, in which personal debts were to be canceled.

"The alternative, the prophet Isaiah warned, was for smallholders to forfeit their lands to creditors: 'Woe to you who add house to house and join field to field till no space is left and you live alone in the land.'"

This shit again. Whatever. You're fucking ignorant.
29a13b457975af2bd42265085631ab52.jpg
 
Hell was built for fiends like you . And no they don’t use Barbecue sauce in The lake of Fire when they are roasting you.
Don't you have toilets to scrub in Wuhan?
I don't have any debts to worry about.
Jubilee.jpg

A Debt Jubilee is the Only Way to Avoid a Depression - CounterPunch.org

"Massive social distancing, with its accompanying job losses, stock dives and huge bailouts to corporations, raises the threat of a depression.

"But it doesn’t have to be this way.

"History offers us another alternative in such situations: a debt jubilee..."

"The word 'Jubilee' comes from the Hebrew word for 'trumpet' — yobel.

"In Mosaic Law, it was blown every 50 years to signal the Year of the Lord, in which personal debts were to be canceled.

"The alternative, the prophet Isaiah warned, was for smallholders to forfeit their lands to creditors: 'Woe to you who add house to house and join field to field till no space is left and you live alone in the land.'"

This shit again. Whatever. You're fucking ignorant.
29a13b457975af2bd42265085631ab52.jpg
 
I'm confused George....First you seem to say that the bill is bad because it's too much, then you say that they should have done more....Which is it?
I believe the response so far has done too much for the richest one percent and far too little for the 99%. Perhaps that will change as the pandemic spreads across the heartland?

Really? how so?
 
You think $1 million loaned tonight, repaid tomorrow morning, re-loaned tomorrow night repaid Monday morning, re-loaned Monday night and repaid Tuesday morning is "Increasing or increased in quantity"?
Why has it been necessary for the New York Fed to repay these "cumulative" loans since last September?

These Are the Banks that Own the New York Fed and Its Money Button

"The New York Fed has now pumped out upwards of $3 trillion in a period of 63 days to unnamed trading houses on Wall Street to ease a liquidity crisis that has yet to be credibly explained.

"In addition, it has launched a new asset purchase program, buying up $60 billion each month in U.S. Treasury bills.

"Based on the continuing escalation of its plans, it appears to be testing the limits of what the public will tolerate.

"We thought it was time to answer the question: who exactly owns the New York Fed and its magical money spigot that can pump trillions of dollars into Wall Street at the press of a button."
Its-Time-to-Take-Away-the-New-York-Feds-Money-Button-1.jpg

Why has it been necessary for the New York Fed to repay these "cumulative" loans since last September?

You're so clueless. The Fed is loaning, not repaying.

"We thought it was time to answer the question: who exactly owns the New York Fed

The Fed is part of the Federal government.
What does this tell you?
Loan-Loss-Reserves-for-U.S.-Banks-Versus-New-York-Fed-Banks-as-of-Q4-2019.jpg

New York Fed Has Allowed Dangerous Wall Street Banks to Have Lower Loan Loss Reserves than at time of 2008 Crash

Do you even understand what a loan loss reserve is...…..
 
Really? how so?
Who owns the economy?

Corporations and their richest shareholders appear to be the prime beneficiaries of this latest example of socialism for the rich.

a-screenshot-of-a-cell-phone-description-automati.png

"Graph: in times of crisis the powers that be call for solidarity through national unity. However, there is little solidarity shown in who owns the economy.

"The rich own the economy, represented here in shares of stock.

"Since the Fall of 2019— long before the coronavirus arrived, the Federal Reserve has been once again bailing out Wall Street to the tune of several trillion dollars (graph below).

"There aren’t enough virus test kits, ventilators or protective equipment, but at least the rich don’t have to worry about not being rich anymore. Source: Edward Wolff / NBER ."

Bailouts for the Rich, the Virus for the Rest of Us - CounterPunch.org

In advanced capitalist societies state policies assure more resources flow to rich citizens than to the vast majority of residents. The rich use free market rhetoric to impose greater economic risk on the lower classes knowing full well Democrats AND Republicans alike will ensure their prosperity with taxpayer bailouts whenever needed.

Socialism for the rich and capitalism for the poor - Wikipedia
 
Do you even understand what a loan loss reserve is...…..
loan-loss-provisioning-5-638.jpg

Would you care to explain the relationship between loan loss reserves and earnings?

New York Fed Has Allowed Dangerous Wall Street Banks to Have Lower Loan Loss Reserves than at time of 2008 Crash

"The reason that these politically-connected banks don’t want to take proper loan loss reserves is that it eats into the earnings they can report.

"It’s those earnings that allow the CEOs to justify their obscene pay packages and stock buybacks.

"Good earnings also prop up the stock price of the banks’ shares, which allow the CEOs to cash out their stock option grants at a huge windfall.

"Jamie Dimon, Chairman and CEO of JPMorgan Chase has become a billionaire from his stock grants and bank compensation."
 
Really? how so?
Who owns the economy?

Corporations and their richest shareholders appear to be the prime beneficiaries of this latest example of socialism for the rich.

a-screenshot-of-a-cell-phone-description-automati.png

"Graph: in times of crisis the powers that be call for solidarity through national unity. However, there is little solidarity shown in who owns the economy.

"The rich own the economy, represented here in shares of stock.

"Since the Fall of 2019— long before the coronavirus arrived, the Federal Reserve has been once again bailing out Wall Street to the tune of several trillion dollars (graph below).

"There aren’t enough virus test kits, ventilators or protective equipment, but at least the rich don’t have to worry about not being rich anymore. Source: Edward Wolff / NBER ."

Bailouts for the Rich, the Virus for the Rest of Us - CounterPunch.org

In advanced capitalist societies state policies assure more resources flow to rich citizens than to the vast majority of residents. The rich use free market rhetoric to impose greater economic risk on the lower classes knowing full well Democrats AND Republicans alike will ensure their prosperity with taxpayer bailouts whenever needed.

Socialism for the rich and capitalism for the poor - Wikipedia

the Federal Reserve has been once again bailing out Wall Street to the tune of several trillion dollars (graph below).

Short-term loaning the shit out of it.
Tell me more about cumulative. DURR!
 
Do you even understand what a loan loss reserve is...…..
loan-loss-provisioning-5-638.jpg

Would you care to explain the relationship between loan loss reserves and earnings?

New York Fed Has Allowed Dangerous Wall Street Banks to Have Lower Loan Loss Reserves than at time of 2008 Crash

"The reason that these politically-connected banks don’t want to take proper loan loss reserves is that it eats into the earnings they can report.

"It’s those earnings that allow the CEOs to justify their obscene pay packages and stock buybacks.

"Good earnings also prop up the stock price of the banks’ shares, which allow the CEOs to cash out their stock option grants at a huge windfall.

"Jamie Dimon, Chairman and CEO of JPMorgan Chase has become a billionaire from his stock grants and bank compensation."
Would you care to explain the relationship between loan loss reserves and earnings?

If loan losses are low, loan loss reserves are low. If loan losses are low, earnings are high.

"The reason that these politically-connected banks don’t want to take proper loan loss reserves is that it eats into the earnings they can report.

Proper loan loss reserves are low when losses are low.

"It’s those earnings that allow the CEOs to justify their obscene pay packages and stock buybacks.

Low losses and high earnings justify their obscene pay packages.
 
Really? how so?
Who owns the economy?

Corporations and their richest shareholders appear to be the prime beneficiaries of this latest example of socialism for the rich.

a-screenshot-of-a-cell-phone-description-automati.png

"Graph: in times of crisis the powers that be call for solidarity through national unity. However, there is little solidarity shown in who owns the economy.

"The rich own the economy, represented here in shares of stock.

"Since the Fall of 2019— long before the coronavirus arrived, the Federal Reserve has been once again bailing out Wall Street to the tune of several trillion dollars (graph below).

"There aren’t enough virus test kits, ventilators or protective equipment, but at least the rich don’t have to worry about not being rich anymore. Source: Edward Wolff / NBER ."

Bailouts for the Rich, the Virus for the Rest of Us - CounterPunch.org

In advanced capitalist societies state policies assure more resources flow to rich citizens than to the vast majority of residents. The rich use free market rhetoric to impose greater economic risk on the lower classes knowing full well Democrats AND Republicans alike will ensure their prosperity with taxpayer bailouts whenever needed.

Socialism for the rich and capitalism for the poor - Wikipedia


Counterpunch? OMG, they still exist? Why not just post the Communist manifesto?
 
financial markets were in an inherently unstable condition.
"The U.S. Senate voted 96-0 late yesterday on a massive bailout of Wall Street banks versus a short-term survival plan for American workers thrown out of their jobs – and potentially their homes.
who exactly owns the New York Fed and its magical money spigot that can pump trillions of dollars into Wall Street at the press of a button."
this is a time of crisis
It’s a crisis the oligarchy will use to further enrich and empower themselves.
The Devil is coming for you, little liar
This is complete bullshit
The wealthy will prosper just as they did after the Great Recession, and a majority of Americans will fall deeper into debt.
This shit again.
Who owns the economy?



Come gather round people ,wherever you roam
And admit your GubMit around you has grown
And accept it soon or be picked to the bone
For the times they are a changin’

Come pundits and critics, and you partisan hacks
They all want your votes, but don’t have your backs
And don’t speak too soon for the media’s skewed spin
For there’s no telling who they’re blaming
For the loser is us, if you let them win
For the times they are a changin’


Come senators ,congressmen who patronize all
You give us the crumbs while your lobbyists take all
You make all the rules, yet abide none at all
And the middle class battle is ragin’
May fate shake your windows and rattle your walls
For the times they are a changin’

Come mothers and fathers all out through the land
Don’t stand on old times as if it were the plan
Your sons and your daughters need now take a stand
And the old road is rapidly aging
Please take the new road, and do lend a hand
For the times they are a changin’

The line is drawn, and the curse had been cast
The slow one now will soon be the last
As the old world is rapidly fading
As today’s oligarchs mold our futures fast

For the times they are a changin’

~S~ w/apologies to Mr Dylan
 

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