Douglas Caddy Posted March 12, 2020 Share Posted March 12, 2020 1 hour ago, James DiEugenio said: Prins is pretty good. What that article says is that what happened with Obama and Biden was a huge effort to pump cheap money into the major arteries of what was left of the banking system. And what it did was, in classic trickle up manner, to make the rich even richer. I have always felt that what Obama and Biden did was a mistake and a betrayal of Democratic party ideals. What Kennedy tried to do, through James Saxon, was to open more state banks in order to loosen the flow of cash through community lending. The approach these guys took was simply made to order for the likes of Dimon. Don't go after anyone in a criminal proceeding, parcel out all kinds of cheap and free money to save the top investment houses--thus rewarding the bad guys--and not reinstating Glass Stegall. This is what convinced me that Obama's Hope and Change was a mirage. This is why I support Bernie's decision not to concede now to Biden although I support Biden to be the presidential nominee. In Sunday's debate I would like to see Bernie force Biden to agree to a genuine progressive agenda for his administration. Otherwise Biden will just be Obama2.O with nothing to show for electing him. As Prins shows in her article, Obama authorized massive financial subsides and bailouts to the big banks and Wall Street investment firms right after getting elected and made certain no one got prosecuted for what they had done to cause the 2008 financial crisis. Biden from Delaware, the legal home for these financial entities, as Senator as later as Obama's VP, made certain they got what they wanted. If elected president, he will do more the same. The only obstacle to his doing this is Bernie, which is why Bernie needs to get Biden commit ahead of time to a progressive agenda. To choose one example, there is a big push now for the Government to provide bailouts and subsidies to the oil industry, which is under attack from Russia and Saudi Arabia.. Biden as president would so this unless checked. Link to comment Share on other sites More sharing options...
Ron Bulman Posted March 12, 2020 Share Posted March 12, 2020 https://www.msn.com/en-us/money/markets/the-first-us-layoffs-from-the-coronavirus-are-here/ar-BB113Pt8?li=BBnb4R7 Link to comment Share on other sites More sharing options...
Douglas Caddy Posted March 12, 2020 Share Posted March 12, 2020 Just now from the front page of the Washington Post: A view of Qom's cemetery in March. (Maxar Technologies) Satellite images show Iran building vast burial trenches for virus victims Two days after Iran declared its first cases of the novel coronavirus — in what would become one of the largest outbreaks of the illness outside of China — evidence Link to comment Share on other sites More sharing options...
James DiEugenio Posted March 12, 2020 Author Share Posted March 12, 2020 (edited) Robert: Are you aware that the NBA just went on hiatus? And that is was not just Gobert that has the virus, its also his teammate Mitchell. Now what would have happened if the NBA had not gone on hiatus and let those two guys play the rest of the year? The way you build confidence that you are counteracting something like this is through comprehensive, free testing. Unless you think that letter I posted from Italy is bogus, this is not like the flu. Yet when Trump went to the CDC he had his MAGA cap on. WTF? 38 people have died so far. The state of Washington should have been placed on lockdown. Instead Jared says: Europe travel ban. Except for UK. Hmm. Edited March 12, 2020 by James DiEugenio Link to comment Share on other sites More sharing options...
W. Niederhut Posted March 12, 2020 Share Posted March 12, 2020 Big news, folks. The Fed just intervened bigly today to try to retard the stock market crash. To put this in perspective, the DOW plunged 9% this morning before trading was halted and the Fed intervened. Fed ramps up repo operations to address disruptions in Treasury market https://www.marketwatch.com/story/fed-ramps-up-repo-operations-to-address-disruptions-in-treasury-market-2020-03-12?mod=home-page March 12, 2020 The New York Fed increased the size of its repurchasing operations on Thursday in order to address the "highly unusual" disruptions in Treasurys markets. It said it would offer $500 billion in a three-month repo operation on both Wednesday and Thursday. It also said it would offer $500 billion in a one-month repo operation tomorrow. The New York Fed added it would conduct one-month and three-month operations for $500 billion every week for the remainder of the month. This on top of at least $175 billion in daily overnight repo operations. As part of the repo operations, the Fed will temporarily lend out funds to broker-dealers in return for collateral such as Treasurys and mortgage-backed securities. The Fed's interventions comes as market participants have worried about the difficult of trading Treasurys in the last few days. Link to comment Share on other sites More sharing options...
Joe Bauer Posted March 12, 2020 Share Posted March 12, 2020 (edited) 36 minutes ago, James DiEugenio said: Yet when Trump went to the CDC he had his MAGA cap on. WTF? Trump shamelessly wearing his over-sized, self-promotion red MAGA cap while being MSM filmed dealing with this unbelievable crisis? OUTRAGEOUS! PERVERSE! His self-promoting craziness never ends! An equivalent scene would be Richard Nixon wearing a ball cap that said "I AM NOT A CROOK" in his forced resignation perp walk up the removal helicopter stairs and turning to the crowd and arm waving his V for Victory finger salute! Edited March 12, 2020 by Joe Bauer Link to comment Share on other sites More sharing options...
Ron Ecker Posted March 12, 2020 Share Posted March 12, 2020 7 minutes ago, Joe Bauer said: An equivalent scene would be Richard Nixon wearing a ball cap that said "I Am Not A Crook" in his resigning perp walk up the helicopter stairs and turning to the crowd and arm waving his V for Victory finger salute! That moment was so moving that I gave Nixon a finger salute too. Link to comment Share on other sites More sharing options...
James DiEugenio Posted March 12, 2020 Author Share Posted March 12, 2020 56 minutes ago, W. Niederhut said: Big news, folks. The Fed just intervened bigly today to try to retard the stock market crash. To put this in perspective, the DOW plunged 9% this morning before trading was halted and the Fed intervened. Fed ramps up repo operations to address disruptions in Treasury market https://www.marketwatch.com/story/fed-ramps-up-repo-operations-to-address-disruptions-in-treasury-market-2020-03-12?mod=home-page March 12, 2020 The New York Fed increased the size of its repurchasing operations on Thursday in order to address the "highly unusual" disruptions in Treasurys markets. It said it would offer $500 billion in a three-month repo operation on both Wednesday and Thursday. It also said it would offer $500 billion in a one-month repo operation tomorrow. The New York Fed added it would conduct one-month and three-month operations for $500 billion every week for the remainder of the month. This on top of at least $175 billion in daily overnight repo operations. As part of the repo operations, the Fed will temporarily lend out funds to broker-dealers in return for collateral such as Treasurys and mortgage-backed securities. The Fed's interventions comes as market participants have worried about the difficult of trading Treasurys in the last few days. William, that really is a story. What I think is happening is that banks are paying out higher interest rates on CD's, while the T bonds have gone much lower. So the Fed is trying to make up the difference. Is that how you see this? Link to comment Share on other sites More sharing options...
Douglas Caddy Posted March 12, 2020 Share Posted March 12, 2020 Breaking News on CNN: Trump considering travel ban inside U.S. [Oh boy, interstate travel may be up for grabs. Imagine what truck drivers are thinking.] Link to comment Share on other sites More sharing options...
James DiEugenio Posted March 12, 2020 Author Share Posted March 12, 2020 (edited) Well, here goes another: https://www.huffpost.com/entry/sophie-grégoire-trudeau-being-tested-for-coronavirus-prime-minister-in-self-isolation_n_5e6a5fa5c5b6bd8156f33fa0 And another: https://www.cnn.com/2020/03/12/americas/brazil-bolsonaro-coronavirus-aide-scli-intl/index.html Edited March 12, 2020 by James DiEugenio Link to comment Share on other sites More sharing options...
Douglas Caddy Posted March 12, 2020 Share Posted March 12, 2020 4 minutes ago, Robert Wheeler said: Comprehensive free testing is fine, but what's the point? If you offer free testing, your sample consists of everyone who thinks their runny nose might be the coronavirus. In other words, if I have the coronovirus, but no symptoms, I'm not lining up for the free test. If I have a runny nose, but not the coronovirus, I will get the free test. Now what? Mandatory testing would probably work. ----- Here is the problem with the news that Doug and I touched on yesterday, but didn't get back too arguing about. Coronovirus is 10x more lethal than the Flu was the assertion from the Trump admin. guy yesterday, and that the Media repeated for the rest of the day. The Flu has a fatality rate of 0.1% (Actually 0.054% this year so far, but we'll round up.) The coronovirus therefore has a fatality rate of 1% (0.1% x 10 = 1.0%) So where is the 3%+ Fatality Rate Coming from that the Media has also been citing? The Media ran with the 10X number because it sounds bad. No introspection or context, or basic math. The media has close to zero credibility to begin with. If we have reason to panic, then we're in greater danger because the messenger can't be trusted. If we don'y have reason to panic, then the MSM has an agenda. Are you saying that Trump's Oval Office speech last night saying that we now face a pandemic was a hoax and fake news? Link to comment Share on other sites More sharing options...
James DiEugenio Posted March 12, 2020 Author Share Posted March 12, 2020 I think everyone would agree China is the biggest example so far.(Although Iran might be out there soon.) From a Fact Check article: A February study by the Chinese Center for Disease Control and Prevention of cases in China found a mortality rate of 2.3%. But the new coronavirus hit the elderly particularly hard: The rate was 14.8% in patients 80 and older and 8% for those 70 to 79. Link to comment Share on other sites More sharing options...
Joe Bauer Posted March 12, 2020 Share Posted March 12, 2020 (edited) 24 minutes ago, James DiEugenio said: I think everyone would agree China is the biggest example so far.(Although Iran might be out there soon.) From a Fact Check article: A February study by the Chinese Center for Disease Control and Prevention of cases in China found a mortality rate of 2.3%. But the new coronavirus hit the elderly particularly hard: The rate was 14.8% in patients 80 and older and 8% for those 70 to 79. 8%? And I have many medical issues including immune system ones. You bet I am worried. And by the way; All of Major League Baseball has postponed all league play for 30 days. So, if we go the same virus rate growth route of Italy, and things are 10X worse in 30 days...? There will be no baseball season. Talk about impact! This virus crisis is turning into a society effecting and changing event beyond anything we could have imagined since WWII. Edited March 12, 2020 by Joe Bauer Link to comment Share on other sites More sharing options...
Douglas Caddy Posted March 12, 2020 Share Posted March 12, 2020 How Transparent is President Trump? Audit Shows Three-Quarters of His Decisions Have Been Bad for Openness https://nsarchive.gwu.edu/foia-audit/foia/2020-03-13?eType=EmailBlastContent&eId=0de853f0-cdda-46f3-be28-7dcf3b960294 Link to comment Share on other sites More sharing options...
Joe Bauer Posted March 12, 2020 Share Posted March 12, 2020 If Trump gets the virus, will they quarantine or even shut down Mar-A- Lago? Link to comment Share on other sites More sharing options...
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