Trump Seeks To Calm Markets

[Bo Didleysquat]

After the 11th worst day in the history of the stock market, media-averting Trump was forced to take the stage yet again to attempt to calm the markets.

The plan has several elements. First, a payroll tax cut. Second, some kind of unspecified relief for businesses. And finally, some kind of relief for people who can't take time off from work if they come down with the bug because they live from paycheck to paycheck. Absolutely no details were given for what that third action item will be.

Of course, all of these plans are very big, huge, wonderful, terrific, and the best anyone has ever seen...

So, if you have to stay home because you *cough* might have *cough* the coronavirus *achoo!*, excuse me, and will get paid for it, that is not going to be *cough hack cough* wide open to fraud and abuse or anything...

Trump floats payroll tax cut, other financial relief amid coronavirus outbreak

All platitudes, no details. **** the market, we're ostensibly capitalist, and the so called market is a natural phenomenon where failure does down without socialist resurrections. No so for the aristocracy. Just the people. **** speculators, we used to hang them.

 

[g5000]

Well, it seems the market is happy with unspecified plans. It has regained about half what it lost yesterday. There was a massive surge in the last two hours.

Let's hope that continues tomorrow and the days after.

 

[Ray From Cleveland]

Pretty much.

I've never understood the connection people make with the stock market and the economy. It's baffling to me. The stock market doesn't in any way reflect the actual economy. The stock market is completely counterfeit.

I wouldn’t go that far. The stock market isn’t completely unrelated to the economy but it is prone to skittish behavior like we are seeing. Just because the market tanks does not necessarily mean we are in recession.

Losing over 2,000 points in one day isn't "skittish." Not after steady overall losses for two weeks.

Maybe I’m just really out of the loop but I haven’t really seen any actual economic data to explain such sharp losses.

Which is why I would label it as skittish. They’re operating of fear rather than data.

didn't they say yesterday's drop was due to the drop in oil prices?

Oil prices aren’t much different than stock prices, no?

Not really. Oil is a commodity, and is usually controlled by the commodities market. It's that market that sets the price.

 

[g5000]

After the 11th worst day in the history of the stock market, media-averting Trump was forced to take the stage yet again to attempt to calm the markets.

The plan has several elements. First, a payroll tax cut. Second, some kind of unspecified relief for businesses. And finally, some kind of relief for people who can't take time off from work if they come down with the bug because they live from paycheck to paycheck. Absolutely no details were given for what that third action item will be.

Of course, all of these plans are very big, huge, wonderful, terrific, and the best anyone has ever seen...

So, if you have to stay home because you *cough* might have *cough* the coronavirus *achoo!*, excuse me, and will get paid for it, that is not going to be *cough hack cough* wide open to fraud and abuse or anything...

Trump floats payroll tax cut, other financial relief amid coronavirus outbreak

All platitudes, no details. **** the market, we're ostensibly capitalist, and the so called market is a natural phenomenon where failure does down without socialist resurrections. No so for the aristocracy. Just the people. **** speculators, we used to hang them.

Actually, we used to let speculators run wild. And still do, for the most part.

We have never hanged them.

 

[g5000]

Trump pitched 0% payroll tax rate for the rest of the year, White House official says

President Donald Trump, in a meeting with Republican lawmakers on Capitol Hill Tuesday, pitched a 0% payroll tax rate that would last through the rest of this year, a White House official told CNBC.

Interesting.

 

[Ray From Cleveland]

I'm not sure exactly what G5000 means but with Russia wanting drastic reductions in oil prices, coupled with a collapse in demand from a world wide economic contraction because of coronavirus tanking consumer buying EVERYWHERE, the Saudis threw in the towel on trying to keep the price up

Wow, did you ever read that wrong. The Saudis are happy with a price cut for a while. They have the means to survive it. Russia not so much and our companies squeezing oil out of shale not so much. If the price goes low enough oil produced from shale is being sold at less than it cost to produce it.

It can only go so low before the US bows out. Much of our energy comes from private land. When land owners are not making what they want to make, they have the energy producers stop drilling on their land. They tell them no more drilling until the price goes back up.

 

[g5000]

FICA taxes add up to about 15 percent of your pay. But half of that is paid by the employer.

 

[bendog]

Trump pitched 0% payroll tax rate for the rest of the year, White House official says

President Donald Trump, in a meeting with Republican lawmakers on Capitol Hill Tuesday, pitched a 0% payroll tax rate that would last through the rest of this year, a White House official told CNBC.

Interesting.

A bit at odds with Pelosi whose initial response is more to reimburse people without paid leave for lost work, feed kids whose schools close and cover out of pocked medical expenses.

 

[colfax_m]

I wouldn’t go that far. The stock market isn’t completely unrelated to the economy but it is prone to skittish behavior like we are seeing. Just because the market tanks does not necessarily mean we are in recession.

Losing over 2,000 points in one day isn't "skittish." Not after steady overall losses for two weeks.

Maybe I’m just really out of the loop but I haven’t really seen any actual economic data to explain such sharp losses.

Which is why I would label it as skittish. They’re operating of fear rather than data.

didn't they say yesterday's drop was due to the drop in oil prices?

Oil prices aren’t much different than stock prices, no?

Not really. Oil is a commodity, and is usually controlled by the commodities market. It's that market that sets the price.

The commodity markets aren’t that different than stock markets. Both involve a lot of speculation.

 

[g5000]

I'm not sure exactly what G5000 means but with Russia wanting drastic reductions in oil prices, coupled with a collapse in demand from a world wide economic contraction because of coronavirus tanking consumer buying EVERYWHERE, the Saudis threw in the towel on trying to keep the price up

Wow, did you ever read that wrong. The Saudis are happy with a price cut for a while. They have the means to survive it. Russia not so much and our companies squeezing oil out of shale not so much. If the price goes low enough oil produced from shale is being sold at less than it cost to produce it.

It can only go so low before the US bows out. Much of our energy comes from private land. When land owners are not making what they want to make, they have the energy producers stop drilling on their land. They tell them no more drilling until the price goes back up.

That's why I said yesterday that lower oil prices mean lost jobs.

Though its good for the airlines. Too bad nobody is flying...

 

[bendog]

FICA taxes add up to about 15 percent of your pay. But half of that is paid by the employer.

Trump wants to stave off the recession by using unsustainable economic stimulus

 

[edward37]

From +950 to -150 to 162 up at 11:50....crazy markets Some one just said BUY when theres' blood in the streets,,,,,even if it's yours

That's the attitude of investors. It's like the old saying of financial success, buy low--sell high. People are anxious as hell to get back into the game. This is a good thing.

El-Erian: Stock market bottom is not in yet, despite the bounce after Monday's historic decline

• The stock market has not reached its bottom yet, even as Wall Street headed higher Tuesday after historic declines, economist Mohamed El-Erian told CNBC.
• “It’s going to be very volatile but around, unfortunately, a downward trend for now,” the chief economic advisor at Allianz said Tuesday.

• El-Erian has for weeks warned investors against buying market dips as they’ve been conditioned to do over recent years because it’s worked.

.

Given the fact that CNBC is one of the many stations hoping to see Trump lose next election, I'll take this with a grain of salt.

Now if you said MSNBC you'd be right BUT CNBC has more con men than dems

Not really, it's six of one and half-dozen of the other. No real difference. Outside of Fox, they are all extensions of the Democrat party and of course, want to see our economy tank if it means that would finish off President Trump.

Spend 3 hours in the morning from 6 to 9 with republican Joe Kernan He makes me get morning sickness but I love watching the Pre Market but they have guests and commentators with repub leanings

 

[OldLady]

I'm not sure exactly what G5000 means but with Russia wanting drastic reductions in oil prices, coupled with a collapse in demand from a world wide economic contraction because of coronavirus tanking consumer buying EVERYWHERE, the Saudis threw in the towel on trying to keep the price up

Wow, did you ever read that wrong. The Saudis are happy with a price cut for a while. They have the means to survive it. Russia not so much and our companies squeezing oil out of shale not so much. If the price goes low enough oil produced from shale is being sold at less than it cost to produce it.

Saudis Plan Big Oil Output Hike, Beginning All-Out Price War

Yep...add to that this...

Shale In Crisis As Oil Prices Collapse | OilPrice.com

For U.S. shale, a disaster lies ahead. The industry has been largely unprofitable to date, but had received several rounds of huge injections of capital in the last decade, most recently following the 2016 downturn. But by last year, investors had begun to sour on unprofitable shale drilling.

Good. I hate fracking.

 

[Ray From Cleveland]

I'm not sure exactly what G5000 means but with Russia wanting drastic reductions in oil prices, coupled with a collapse in demand from a world wide economic contraction because of coronavirus tanking consumer buying EVERYWHERE, the Saudis threw in the towel on trying to keep the price up

Wow, did you ever read that wrong. The Saudis are happy with a price cut for a while. They have the means to survive it. Russia not so much and our companies squeezing oil out of shale not so much. If the price goes low enough oil produced from shale is being sold at less than it cost to produce it.

Saudis Plan Big Oil Output Hike, Beginning All-Out Price War

Yep...add to that this...

Shale In Crisis As Oil Prices Collapse | OilPrice.com

For U.S. shale, a disaster lies ahead. The industry has been largely unprofitable to date, but had received several rounds of huge injections of capital in the last decade, most recently following the 2016 downturn. But by last year, investors had begun to sour on unprofitable shale drilling.

Good. I hate fracking.

You hate the thousands of jobs fracking is responsible for? You hate paying lower natural gas, propane and gasoline prices? You hate us reducing our carbon footprint?

 

[Ray From Cleveland]

I'm not sure exactly what G5000 means but with Russia wanting drastic reductions in oil prices, coupled with a collapse in demand from a world wide economic contraction because of coronavirus tanking consumer buying EVERYWHERE, the Saudis threw in the towel on trying to keep the price up

Wow, did you ever read that wrong. The Saudis are happy with a price cut for a while. They have the means to survive it. Russia not so much and our companies squeezing oil out of shale not so much. If the price goes low enough oil produced from shale is being sold at less than it cost to produce it.

It can only go so low before the US bows out. Much of our energy comes from private land. When land owners are not making what they want to make, they have the energy producers stop drilling on their land. They tell them no more drilling until the price goes back up.

That's why I said yesterday that lower oil prices mean lost jobs.

Though its good for the airlines. Too bad nobody is flying...

Lower prices are good for the consumer as well. Who can't use more money?

 

[kyzr]

You're whining to the choir. Nancy and the dems in the House didn't do anything to help the budget deficit did they?
Its all play money in the District of Criminals. Helicopter Ben on steroids.

I wasn't whining. I was just making sure we're staying honest about it is all. People read this stuff, so to contend the economy was all rainbows and unicorns before some flu is intellectually dishonest.

I don't really do the blue helmets versus red helmets thing, though. They're all on the same team. During that impeachment charade, the dems gave Trump trillions to do everything he wanted. So much for the joke about opposing him. And there wasn't a peep around here about it from anyone until I mentioned it. And it still went ignored. And now Trump has introduced another 4.8 trillion dollar 2021 fiscal budget. The largest in American history. Again, not a peep around here about it until I mentioned it. Again ignored. Where's that money coming from? The Fed gonna open up their checkbook and write a hot check drawn on an account that has nothing in it in order to buy that debt from the banks after the banks go compete to purchase the debt at the next Treasury bond auction? What do you think that's gonna do to the dollar? What's it gonna do to the electorate's savings? Their purchasing power? I'll tell you what it's gonna do. It's gonna keep doing the same thing it's been doing to all of those things over the last 50 years. Destroying it. And last I checked, I'm the only choir singing that song around here. From where I'm standing people seem to avoid reality like the plague. lol.

Again. They're on the same team. Both sides of the party of one are trustees in a failed, socialist monetary policy. Both sides of the party of one have a belief in deficit finance. Both sides of the party of one have a belief in central economic planning by a central bank and a distaste for genuine free markets. Both sides of the party of one have a belief in a welfare/warfare state.

To make this about some flu or oil or dems and republicans is laughable. To repeat yet again, counterfeit money produces a counterfeit economy. A counterfeit economy is bolstered by counterfeit news. All of this leads to a counterfeit society, and America's counterfeit society is heading towards a disaster. The real problem is the Fed itself. The monetary policy itself. It's a complete distortion. But when the chickens come home to roost, and they are as we speak, it will be the natural market itself that decides that fate. Not the Fed. Not the government, no matter what color helmets they're wearing. All they can control is the printing press. And now they're demonstrating that they can't even do that. But this is predictable. Never before in the history of man has a counterfeit fiat system lasted this long. They can't keep propping it up artificially. It's impossible. The market itself will ultimately be the decider. And we're almost there.

True, true, true, and true.
I'm not sure I can hang my hat on a "Convention of States" to put in a Balanced Budget Amendment?
COSAction
Progress Map: States that have passed the Convention of States Article V application - COSAction

 

[JLW]

I'm not sure exactly what G5000 means but with Russia wanting drastic reductions in oil prices, coupled with a collapse in demand from a world wide economic contraction because of coronavirus tanking consumer buying EVERYWHERE, the Saudis threw in the towel on trying to keep the price up

Wow, did you ever read that wrong. The Saudis are happy with a price cut for a while. They have the means to survive it. Russia not so much and our companies squeezing oil out of shale not so much. If the price goes low enough oil produced from shale is being sold at less than it cost to produce it.

Saudis Plan Big Oil Output Hike, Beginning All-Out Price War

Yep...add to that this...

Shale In Crisis As Oil Prices Collapse | OilPrice.com

For U.S. shale, a disaster lies ahead. The industry has been largely unprofitable to date, but had received several rounds of huge injections of capital in the last decade, most recently following the 2016 downturn. But by last year, investors had begun to sour on unprofitable shale drilling.

Good. I hate fracking.

You hate the thousands of jobs fracking is responsible for? You hate paying lower natural gas, propane and gasoline prices? You hate us reducing our carbon footprint?

I guess some people just don't like gas fumes coming out of their faucets, their water supplies contaminated with a hundred different toxic chemicals or their natural environment despoiled by fracking companies. Go figure..huh?

 

[Ray From Cleveland]

Losing over 2,000 points in one day isn't "skittish." Not after steady overall losses for two weeks.

Maybe I’m just really out of the loop but I haven’t really seen any actual economic data to explain such sharp losses.

Which is why I would label it as skittish. They’re operating of fear rather than data.

didn't they say yesterday's drop was due to the drop in oil prices?

Oil prices aren’t much different than stock prices, no?

Not really. Oil is a commodity, and is usually controlled by the commodities market. It's that market that sets the price.

The commodity markets aren’t that different than stock markets. Both involve a lot of speculation.

They are way different. In most cases, when the stock market is down, commodities go up. When the stock market goes up, commodity prices usually decline. But it's not a real burden for investors, since you make the same amount of profit going up as going down. All you have to choose is which direction you think commodities will go.

Also in commodities, most contracts are held for a short time. Outside of day traders, stock investors keep their money in for many years. You pay more in taxes if you sell your shares before one year. There is also much more risk in commodities because the markets can move so fast, as we have just seen in recent days.

An oil contract pays $1,000 for the price movement of one dollar. In other words, if you were selling short a few weeks ago, and the prices in oil drops ten dollars, you made $10,000 dollars. In late February, oil was going for 53 bucks a barrel. Today, it's down to 35 area. So if you were dealing in short sales with only one contract, you would have made $18,000 in just a few weeks. That's only one contract.

 

[Blaine Sweeter]

After the 11th worst day in the history of the stock market, media-averting Trump was forced to take the stage yet again to attempt to calm the markets.

The plan has several elements. First, a payroll tax cut. Second, some kind of unspecified relief for businesses. And finally, some kind of relief for people who can't take time off from work if they come down with the bug because they live from paycheck to paycheck. Absolutely no details were given for what that third action item will be.

Of course, all of these plans are very big, huge, wonderful, terrific, and the best anyone has ever seen...

So, if you have to stay home because you *cough* might have *cough* the coronavirus *achoo!*, excuse me, and will get paid for it, that is not going to be *cough hack cough* wide open to fraud and abuse or anything...

Trump floats payroll tax cut, other financial relief amid coronavirus outbreak

I suspect any employer with half a brain will want the employee to video-tape him or herself taking their temp using their phone camera. At least I would.
BUt nothing will come of this. Trump is just like Ferdinand Marcos...he thinks the country's money is his money and he hates spending his own money on anyone except himself.

.

 

[CrusaderFrank]

After the 11th worst day in the history of the stock market, media-averting Trump was forced to take the stage yet again to attempt to calm the markets.

The plan has several elements. First, a payroll tax cut. Second, some kind of unspecified relief for businesses. And finally, some kind of relief for people who can't take time off from work if they come down with the bug because they live from paycheck to paycheck. Absolutely no details were given for what that third action item will be.

Of course, all of these plans are very big, huge, wonderful, terrific, and the best anyone has ever seen...

So, if you have to stay home because you *cough* might have *cough* the coronavirus *achoo!*, excuse me, and will get paid for it, that is not going to be *cough hack cough* wide open to fraud and abuse or anything...

Trump floats payroll tax cut, other financial relief amid coronavirus outbreak

Maybe you can rub Biden's hairy legs?