Fed to Inject $1.5 Trillion in Bid to Prevent ‘Unusual Disruptions’ in Markets

[Zan15]

Did it though? Where did this extra money go? Did each taxpayer get an extra check of roughly $700 for their part of these profits?

Was there a "return on loan interest" check that was being cut? Did we expand social programs directly citing how many of those dollars went towards the program?

A- the money did not come from taxpayers.
B- the money did not come from taxpayers.
C- did I mention......where the money did not come from?


Even though the money did not come from taxpayers (hey there it is again!) or even the govt......the extra money, as all extra FED profits go, went back into the general fund to fund govt operations....which in turn saved taxpayers money by not having to borrow as much debt

and yes there is exact accounting of every penny online, in official govt documents by 3 different administrations, by SEC reports, by corporate reports, congressional oversight...etc etc etc.
You can also see where every dollar collected in taxation and revenue went into which program on a daily basis. its all available on line.
Hell you can even see our debt actions on a daily basis "google debt to the penny"

[Spectral]

"The markets and companies are the drivers of this economy!"

Meanwhile, consumer spending actually drives 70% of our economy.

Conservatives/Republicans obsession with the completely farcical and thoroughly debunked supply-side economic theories have ruined state economies and they refuse to learn from their mistakes.

Yeah, it's flatly fucking absurd. The notion that if capital stocks in investment portfolios shrink in the slightest it's kaput for normal people is ridiculous on its face. I can barely articulate how much I dislike these people.

[Zan15]

Here is the flaw in your logic.

Say, instead of giving 100 billion dollars to bankers we spend it on welfare programs.

Many of those recipients go on to have useful jobs and/or start businesses. They create 200 million in tax receipts for the government.

No one, and I mean absolutely no one, says they repaid their welfare and what a good scheme welfare is.

Yet when we talk about bankers then people like you crawl out of the woodwork and go on about how marvelous they are. It is a complete double-standard.

sigh. No one gave bankers 100 billion dollars. Really son how fucking hard is this to understand??


BTW I know you are highly uneducated on what happened but they did expand welfare programs, unemployment, food stamps, Medicaid eligibility, etc etc under the same stimulus programs at the same time.

hell unemployment went to 50+ weeks eligibility.

[transipithal]

sigh. No one gave bankers 100 billion dollars. Really son how fucking hard is this to understand??

OK so the bank bailout never happened now. Jesus Christ. We have a live one.

[transipithal]

sigh. No one gave bankers 100 billion dollars. Really son how fucking hard is this to understand??

OK, so the bank bailout never happened now. Jesus Christ. We have a live one.

I'm not sure there is any kind of appropriate response to the Stalinist rewriting of history you are indulging in.

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I would have ker the banks fail ensuring chaos. Maybe it would have woken people up to this BS.

There is the thing. Neither the left nor the right wanted it. The left wanted more equal distribution of wealth and distrust bankers. The right believe in moral hazard and bad businesses going to the wall.

Yet it happened anyway. The bailout had absolutely zero ideological support, it was pure kleptocracy.

[Zan15]

OK, so the bank bailout never happened now. Jesus Christ. We have a live one.

I'm not sure there is any kind of appropriate response to the Stalinist rewriting of history you are indulging in.

you understand the difference between "gave" and "loaned" right?
You understand the difference between a bailout and secured loans right?
You understand a profit vs a loss right?


what do you call it when you give an entity a 100 billion dollar loan and they pay back 120 billion?

[God Save The King]

If you're against welfare/SNAP/Social Security/Free Public College/Healthcare/Etc and not this, then you don't hate socialism, you just don't like the less fortunate.

[melodramocracy]

Dumbfuck in chief a few weeks ago: "we will never be a socialist country"

The Fed today: "well, lets not be hasty"

I'm sure the folks who yelled 'but how will we payyyyyyy for it' when discussing ideas like M4A are suspiciously quiet about this particular turn of events..

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I do giggle at the fact that trillions for wall street is a good thing, but helping the bottom quintile and/or relieving some student loan debt sets a "bad precedent" that will allow people to continue to "behave irresponsibly." The redistribution of wealth is real, and it's been shifted upwards.

It really just exemplifies who actually matters to decision makersin this country. It isn't the average American, you can be rest assured.

[Zan15]

Dumbfuck in chief a few weeks ago: "we will never be a socialist country"

The Fed today: "well, lets not be hasty"

I'm sure the folks who yelled 'but how will we payyyyyyy for it' when discussing ideas like M4A are suspiciously quiet about this particular turn of events..

It really just exemplifies who actually matters to decision makersin this country. It isn't the average American, you can be rest assured.

If you're against welfare/SNAP/Social Security/Free Public College/Healthcare/Etc and not this, then you don't hate socialism, you just don't like the less fortunate.

sigh. I give up.

I really give up trying to explain what the Fed is and what it does with these actions......

Why don't people try to learn about it first before getting angry
Before you make wild comparisons.

[PACOX]

Yeah this is called Welfare, I was raised on it, so yeah, but I have no problem with it, I work I am taxed, I do NOT want others to suffer needlessly because of a temporary of possibly permanent impairment.

The problem is corporate welfare doesn't trickle down well. See corporate bailouts and tax cuts that make the rich richer while wages remain stagnant.

[melodramocracy]

sigh. I give up.

I really give up trying to explain what the Fed is and what it does with these actions......

Why don't people try to learn about it first before getting angry
Before you make wild comparisons.

We're all quite aware of what it is, and what it does. No one is getting angry, just stating some rather obvious truths.

[Beefhammer]

OK, so the bank bailout never happened now. Jesus Christ. We have a live one.

I'm not sure there is any kind of appropriate response to the Stalinist rewriting of history you are indulging in.

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There is the thing. Neither the left nor the right wanted it. The left wanted more equal distribution of wealth and distrust bankers. The right believe in moral hazard and bad businesses going to the wall.

Yet it happened anyway. The bailout had absolutely zero ideological support, it was pure kleptocracy.

Don't even try that, republicans only care about letting bad business fail if they are small, unless it's an election year, planned parenthood, pot shops, or anything in the green industry. Other than that they bend over backwards to bail out big businesses.

[Zan15]

We're all quite aware of what it is, and what it does. No one is getting angry, just stating some rather obvious truths.

nothing you said was the truth.
it has nothing to do with socialism.
Fed doesn't care about socialism or capitalism.


No one has to figure out 'how to pay for it" .
the fed is self funded, self sufficient, non taxpayer, etc etc.


Also the Feds bail out a lot, a fucking shit tons of individual people in this country by virtues of their actions.
You know the average Americans who would lose a lot more if the Feds did not make sure the banks/financial institutions went bankrupt.
Who do you think is invested and has their money invested with/saved in....those entities?

imagine the amount of taxpayer money that would eventually have to be used to just repay the trillions in savings under FDIC insurance if these "banks" failed.

without the FED you would have actual bailouts with taxpayer money in the trillions as liquidity dried up.

[melodramocracy]

the fed is self funded

No use arguing anything past this statement really. Have a great weekend!

[Xyonai]

Man, it's sure nice to see the Fed set a trillion and a half dollars on fire to pander to panicking shareholders in a time when people are facing high costs of being unable to work or visit the hospital because of our fucked Medical System in the face of a Global Pandemic and could have benefited from some financial security.

Money well spent you fucking twats.

[Corvus]

I don't know how it is over in the USA, but here in Australia pretty much everyone has their retirement benefits tied up in the stock market and the more it crashes the worse off everyone is.

If this thing crashes hard then it could get really bad. Not quite depression bad but for certain recession bad, with lots of job losses, bankruptcies, companies closing.

[transipithal]

you understand the difference between "gave" and "loaned" right?
You understand the difference between a bailout and secured loans right?
You understand a profit vs a loss right?


what do you call it when you give an entity a 100 billion dollar loan and they pay back 120 billion?

I call it a ponzi scam, which is what it is. I call it a martingale. I call it picking up pennies in front of a steamroller.

For someone who claims to be an intellectual overlord you seem to be remarkably unfamiliar with some of the simplest concepts in probability theory.

If you keep bailing out a gambler using a doubling-up system he will never lose and always make a profit until he hits a streak of sufficient length to wipe him out. That's what happened here. Of course they made a profit. If they hadn't they would have been bailed out till they did. There's just one problem with this scenario-if they keep losing one day they take down the global economy when there is no more money to bail them out with. Maybe this day.

I'd add: had the banks gone to the wall then they would have been replaced by better financial institutions which would be more efficient and risk-aware. Those banks or p2p lenders or whatever would generate far more to society than the old banks almost by definition. This is moral hazard 101, again, a remarkably simple concept which you somehow seem to be unaware of.

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I don't know how it is over in the USA, but here in Australia pretty much everyone has their retirement benefits tied up in the stock market and the more it crashes the worse off everyone is.

Australia has a lot of offset in terms of mining stocks, which are safe havens in times of crisis. It weathered the financial crisis, you'll be fine. Well, if your country doesn't burn down again, but that's a different issue...

[Vash The Stampede]

Yeah this is called Welfare, I was raised on it, so yeah, but I have no problem with it, I work I am taxed, I do NOT want others to suffer needlessly because of a temporary of possibly permanent impairment.

This is not the same Welfare. This is pulling $1.5 Trillion from nothing and injecting it into already wealthy pockets. Also, since September of 2019 the repo market crashed and they pumped over $4 Trillion from the same source of money they're pulling $1.5 Trillion. All this money they're printing is now devaluing the America dollar, and this is exactly what Venezuela did and caused their currency to be worth nothing. Socialism for the rich but no Medicare for All and no student debt cancellation. All because we believe in the stock market that is clearly a failed system because it depends on infinite growth which doesn't exist. It failed in 1929, it failed in 2008 and it's failing again in 2020. We never recovered from 2008, the recession just shifted around manifesting in other areas like debt and working multiple jobs.

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I don't know how it is over in the USA, but here in Australia pretty much everyone has their retirement benefits tied up in the stock market and the more it crashes the worse off everyone is.

If this thing crashes hard then it could get really bad. Not quite depression bad but for certain recession bad, with lots of job losses, bankruptcies, companies closing.

It's the same thing here. Kinda odd that your retirement fund is tied to the success of a companies stock value? Would be a shame if the stock value plummets, so make sure someone prints up fake made up money to fix some rich mans mistakes. Also, the 2008 recession never ended and this is just pushing us into a depression. I predicted this would happen and the Dow Jones will be around 21,000~ for a long time. It may even go up a few thousands points but inevitably it'll drop back down and go even further. The stock market is a scam that allows someone to take $10 and make $100 for doing nothing. It's fueled by stock buyback and depends on infinite growth which doesn't exist. By the way, what do you think $1.5 Trillion is? That's a big ass pile of stock buyback, which happens to be the reason why we're in this situation to begin with.

[Masark]

I need to quickly go and get The Great Leveler from the library before it closes.

Library Genesis is always an option if it is closed.

[Vash The Stampede]

nothing you said was the truth.
it has nothing to do with socialism.
Fed doesn't care about socialism or capitalism.

Giving it a name doesn't matter, even though is quacks like duck and walks like a duck. What matters is that printing money devalues the currency.

No one has to figure out 'how to pay for it" .
the fed is self funded, self sufficient, non taxpayer, etc etc.

The American dollar is fiat money and therefore the Federal Reserve can print their own funds. Wish I could just print money when there's a problem.

Also the Feds bail out a lot, a fucking shit tons of individual people in this country by virtues of their actions.

Virtues of not paying a living wage maybe.

You know the average Americans who would lose a lot more if the Feds did not make sure the banks/financial institutions went bankrupt.

Why you think Trump and Bernie Sanders are so popular today? The 2008 recession has left many Americans working harder for less income plus debt, and we call that a success.

Who do you think is invested and has their money invested with/saved in....those entities?

Are you're talking about 401k's and pensions tied to stocks? Did those people even have a choice?

imagine the amount of taxpayer money that would eventually have to be used to just repay the trillions in savings under FDIC insurance if these "banks" failed.

If the banks failed then I would sell everything they own including their mansions and use that money to pay back the American people. Then do what Bernie Sanders wants to do and that's open up government funded non profit banks to handle your money. This is also what JFK wanted to do before he was murdered. I wonder why?

without the FED you would have actual bailouts with taxpayer money in the trillions as liquidity dried up.

To think all this started due to a virus that typically causes respiratory damage and has been known as the common cold. The Fed and their ilk are what put the economy in this situation and something like a mutated cold virus was enough to halt this economic engine. All the Fed are doing now are making a bad situation worse by doing the same thing that's been done since 2008, which clearly doesn't work.