DAL, UAA on my watchlist liao.... US ready for USD$2 trillion bailout, for comparison's sake, the QE that started in 2008 over a few years was worth USD$2 trillion, that doubled US's debts to $4 trillion+. Not gonna buy yet simply because the pandemic still yet to reach peak, but airlines for sure are gonna get a bailout... things will get worse b4 getting better.
-
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I'm shopping on the stock market tomorrow.
- Thread starter Leongsam
- Start date
- Joined
- Mar 5, 2019
- Messages
- 10,898
- Points
- 113
you know... there's something to be said about a trading strategy where you do the opposite of the esteemed person you mentioned. I'm pretty sure you'll come out ahead...Congrats..
You are in the same league as Ho Temasek Ching.
Buy high sell low strategy.
View attachment 73709
View attachment 73708
- Joined
- Sep 22, 2008
- Messages
- 76,195
- Points
- 113
This trumps QE is different than previous. He copied Andrew Yang's universal income. Every citizen will be paid USD1k per month.previously, all QE money goes to banks which then boosted stock prices by lending money to the rich and Hedge funds.
- Joined
- Oct 7, 2012
- Messages
- 5,228
- Points
- 113
Like I alluded to before, it ain’t a crisis until it is or becomes a financial crisis ........ this is what a fire sale looks like:
(Bloomberg) – A credit market crisis deepened over the weekend, with a group of funds holding mortgage bonds and other asset-backed securities seeking to sell billions of dollars in assets, a fund blamed unprecedented investor withdrawals.
Sales included at least $ 1.25 billion in securities listed by the AlphaCentric Income Opportunities Fund, according to people familiar with the sales. He sought buyers for a strip of bonds backed mainly by private label mortgages as he sought to raise funds, said the people, who asked not to be identified when discussing the private deals.
“The coronavirus has caused serious market disruption and liquidity problems for most segments of the bond market,” Jerry Szilagyi of AlphaCentric said in a statement sent by email on Sunday. “The Fund is not immune to these upheavals” and “like many other funds, it acts quickly to cope with unprecedented market conditions”.
The best way to get favorable prices is to offer a wider range of securities to bid, he said, refusing to discuss the amount of securities the fund has offered for sale.
Funds that buy bonds of all kinds – from the debt of the largest US companies to mortgage-backed securities – have struggled to record withdrawals from investors in volatile market conditions in fixed income markets. The rush to unload mortgage-backed securities indicates that a credit crunch that started with corporate bonds is spreading to other corners of the market.
In the middle of the sale, the Structured Finance Association, an industry group in the asset-backed securities market, called on government officials on Sunday to intervene and help increase liquidity in the market.
In a letter to US Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, the industry group said that “the future course of the pandemic has significantly disrupted the normal functioning of the credit markets”.
The group asked them to “immediately enact a new version of the Asset-Backed Securities Lending Facility”, a program of the financial crisis era that helped support the issuance of mortgage-backed securities. consumer and small business. Such a move, the group said, would help improve liquidity and the functioning of crucial credit markets.
“The overwhelming supply of securities for sale to meet the redemptions has put significant downward pressure on almost all segments of the bond market,” Szilagyi said in the release.
The AlphaCentric fund plunged 17% on Friday, bringing its total decline for the week to 31%.
“We can most likely expect further price volatility across the bond market until the panic subsides and market uncertainty subsides or government agencies intervene to support the market more broad of fixed income securities, “said Szilagyi.
bloomberg.com“data-reactid =” 30 “> For more articles like this, visit us on bloomberg.com
Subscribe now to stay one step ahead of the most trusted source of business information. “data-reactid =” 31 “> Subscribe now to stay ahead with the most reliable source of business information.
© 2020 Bloomberg L.P.
http://oltnews.com/market-flooded-with-mortgage-bond-sales-amid-us-calls-for-help-yahoo-finance
(Bloomberg) – A credit market crisis deepened over the weekend, with a group of funds holding mortgage bonds and other asset-backed securities seeking to sell billions of dollars in assets, a fund blamed unprecedented investor withdrawals.
Sales included at least $ 1.25 billion in securities listed by the AlphaCentric Income Opportunities Fund, according to people familiar with the sales. He sought buyers for a strip of bonds backed mainly by private label mortgages as he sought to raise funds, said the people, who asked not to be identified when discussing the private deals.
“The coronavirus has caused serious market disruption and liquidity problems for most segments of the bond market,” Jerry Szilagyi of AlphaCentric said in a statement sent by email on Sunday. “The Fund is not immune to these upheavals” and “like many other funds, it acts quickly to cope with unprecedented market conditions”.
The best way to get favorable prices is to offer a wider range of securities to bid, he said, refusing to discuss the amount of securities the fund has offered for sale.
Funds that buy bonds of all kinds – from the debt of the largest US companies to mortgage-backed securities – have struggled to record withdrawals from investors in volatile market conditions in fixed income markets. The rush to unload mortgage-backed securities indicates that a credit crunch that started with corporate bonds is spreading to other corners of the market.
In the middle of the sale, the Structured Finance Association, an industry group in the asset-backed securities market, called on government officials on Sunday to intervene and help increase liquidity in the market.
In a letter to US Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, the industry group said that “the future course of the pandemic has significantly disrupted the normal functioning of the credit markets”.
The group asked them to “immediately enact a new version of the Asset-Backed Securities Lending Facility”, a program of the financial crisis era that helped support the issuance of mortgage-backed securities. consumer and small business. Such a move, the group said, would help improve liquidity and the functioning of crucial credit markets.
“The overwhelming supply of securities for sale to meet the redemptions has put significant downward pressure on almost all segments of the bond market,” Szilagyi said in the release.
The AlphaCentric fund plunged 17% on Friday, bringing its total decline for the week to 31%.
“We can most likely expect further price volatility across the bond market until the panic subsides and market uncertainty subsides or government agencies intervene to support the market more broad of fixed income securities, “said Szilagyi.
bloomberg.com“data-reactid =” 30 “> For more articles like this, visit us on bloomberg.com
Subscribe now to stay one step ahead of the most trusted source of business information. “data-reactid =” 31 “> Subscribe now to stay ahead with the most reliable source of business information.
© 2020 Bloomberg L.P.
http://oltnews.com/market-flooded-with-mortgage-bond-sales-amid-us-calls-for-help-yahoo-finance
- Joined
- Oct 7, 2012
- Messages
- 5,228
- Points
- 113
What David Tepper Needs
to See Before Going ‘Balls
to the Wall’ in the Market
Tepper said he wants to see government action and “ventilators rolling off the factory floor” before he’ll go all in.
March 23, 2020
David Tepper (Victor J. Blue/Bloomberg)
David Tepper is “nibbling around the edges” of the market right now but waiting to make big moves until he sees a plan from the government for how it will handle the coronavirus pandemic.
Tepper, the founder of hedge fund Appaloosa Management, told CNBC’s Scott Wapner Monday that he has been “nibbling” at technology and healthcare stocks, as well as corporate bonds and bank debt.
“Things look really interesting for the long term,” Tepper said during the interview, which aired on CNBC’s Halftime Report. “I once said it’s balls to the walls. They're strictly in my jockstrap right now.”
In other words, Tepper is holding back on throwing money into the market for now. For other investors, Tepper said that there’s nothing wrong with investing a little bit, but they should avoid being over-leveraged, given that the market could fall further.
Tepper said that he’s waiting on a few things before he decides to invest more in the market. First, he wants to see the economic stimulus package passed by Congress.
“It's a very important step to make sure people know they’re covered, and small businesses will still be around,” Tepper said. “It's going to be imperfect, and people are going to have to accept that.”
He added that he thinks it would be helpful for President Donald Trump to tap into the emergency powers he has available to boost the production of ventilators, masks, and other necessary healthcare equipment.
SPONSORED
Why Bond ETFs Will
Continue to Grow
Tepper said he wants to see “ventilators rolling off the factory floor,” and he called on General Motors chief executive officer Mary Barra to provide details on when those ventilators will become available.
“We have to get the masks and ventilators produced,” he said.
Beyond that, Tepper said he wants a plan from governors in the states most affected — the New York tri-state area, California, and Washington — to get out of what he called “this lockdown mode.”
Tepper added that a specific time frame on when people can expect to return to normal daily life would be helpful in shoring up the markets.
“Once we get those done, the market will get a lot more confident,” Tepper said. “I’m ready to go when I see these things. I have money on the sides. I can’t wait to invest again.”
[II Deep Dive: David Tepper Will Convert Appaloosa to a Family Office, Eventually]
Tepper also extended an offer to pitch in and help however he could.
“If they called me right now, I’d help in any way I could,” Tepper said. “Every American should do that right now. Everybody has to help everybody else.”
to See Before Going ‘Balls
to the Wall’ in the Market
Tepper said he wants to see government action and “ventilators rolling off the factory floor” before he’ll go all in.
March 23, 2020
David Tepper is “nibbling around the edges” of the market right now but waiting to make big moves until he sees a plan from the government for how it will handle the coronavirus pandemic.
Tepper, the founder of hedge fund Appaloosa Management, told CNBC’s Scott Wapner Monday that he has been “nibbling” at technology and healthcare stocks, as well as corporate bonds and bank debt.
“Things look really interesting for the long term,” Tepper said during the interview, which aired on CNBC’s Halftime Report. “I once said it’s balls to the walls. They're strictly in my jockstrap right now.”
In other words, Tepper is holding back on throwing money into the market for now. For other investors, Tepper said that there’s nothing wrong with investing a little bit, but they should avoid being over-leveraged, given that the market could fall further.
Tepper said that he’s waiting on a few things before he decides to invest more in the market. First, he wants to see the economic stimulus package passed by Congress.
“It's a very important step to make sure people know they’re covered, and small businesses will still be around,” Tepper said. “It's going to be imperfect, and people are going to have to accept that.”
He added that he thinks it would be helpful for President Donald Trump to tap into the emergency powers he has available to boost the production of ventilators, masks, and other necessary healthcare equipment.
SPONSORED
Why Bond ETFs Will
Continue to Grow
Tepper said he wants to see “ventilators rolling off the factory floor,” and he called on General Motors chief executive officer Mary Barra to provide details on when those ventilators will become available.
“We have to get the masks and ventilators produced,” he said.
Beyond that, Tepper said he wants a plan from governors in the states most affected — the New York tri-state area, California, and Washington — to get out of what he called “this lockdown mode.”
Tepper added that a specific time frame on when people can expect to return to normal daily life would be helpful in shoring up the markets.
“Once we get those done, the market will get a lot more confident,” Tepper said. “I’m ready to go when I see these things. I have money on the sides. I can’t wait to invest again.”
[II Deep Dive: David Tepper Will Convert Appaloosa to a Family Office, Eventually]
Tepper also extended an offer to pitch in and help however he could.
“If they called me right now, I’d help in any way I could,” Tepper said. “Every American should do that right now. Everybody has to help everybody else.”
From what I've read, there is a cure now for Covid-19, fuck the vaccine. Easter all-clear is a real possibility and even if not, there is no longer immediate danger of mankind extinction like the market had reacted the previous days. Buy stocks now at a bargain, the liquidity is immense... there might be ups and downs, but I am holding it till end of the year, so noises in between are not my concern, as many experts will say impossible to catch the bottom, i just deduce there is upside from today's prices. Steering clear of financials still.
1) NOK, $2.97
2) DAL, $30.36
3) APTV, bought few days ago also...
Good luck all!
1) NOK, $2.97
2) DAL, $30.36
3) APTV, bought few days ago also...
Good luck all!
- Joined
- Oct 7, 2012
- Messages
- 5,228
- Points
- 113
A $2 Trillion Lifeline Will Help, but More May Be Needed
The bill moving through Congress is more than twice as large as the stimulus package passed in 2009, but it will soothe a shutdown economy for only a few months.
Image
https://www.sammyboy.com/nyt://image/0d2b9eda-1692-51ae-95ee-7a0281b62569
Lawmakers reached an agreement on a $2 trillion stimulus package. That may not actually be large enough, given the enormous economic challenge the United States faces today.Credit...Anna Moneymaker/The New York Times
By Jim Tankersley
If the outbreak and the disruptions continue through summer, lawmakers will need to spend even more.
The bill, a compromise between the Trump administration and Republican and Democratic leaders in Congress, includes loans and grants for corporations and small businesses, increased unemployment benefits for workers laid off or working fewer hours amid the outbreak, and direct payments to low- and middle-income individuals and families. Negotiators estimate its cost at $2 trillion.
Taken together, those measures form a novel, temporary expansion of the federal government’s role in the economy: it will be essentially paying millions of Americans not to work, and thousands of businesses not to shut down even if they have no customers, in order to slow the spread of the pandemic. Its cost is more than double the roughly $800 billion stimulus package that Congress passed in 2009 to ease the Great Recession. Yet it still may not be large enough, given the enormous economic challenge the United States faces today.
The economy, which has been shuttered to control the spread of the virus, does not need a jolt to get moving again. The government is just trying to tide people and firms over until it is safe to start back up again.
Viewed through that particular set of circumstances, the deal announced early Wednesday isn’t economic stimulus at all. It’s a series of survival payments. And those payments will only last a few months.
How quickly those payments find their way to households and businesses will be critical. Prospects for swift passage dimmed on Wednesday afternoon, when three Republican senators raised concerns over the generosity of the enhanced unemployment benefits. In a best-case scenario where Mr. Trump signed the law on Thursday, people close to the negotiations said, dollars could flow to small businesses as soon as next week. Many business have little time to spare: The typical small business only carries enough cash to last for 12 days without new revenues, according to research from the JPMorgan Chase Institute.
Latest Updates: Markets and Business
Updated 14m ago
More live coverage: Global U.S. New York
“Already balance sheets are running red,” a group of nearly 900 economists, including several Nobel Prize winners, wrote this week in a letter urging quick congressional action. “Businesses that fail during this necessary stoppage time will see the jobs that they provided disappear. With them, much of the productive capacity of the economy will be destroyed.”
The speed of payments to households will also depend in large part on whether individuals have bank accounts: Treasury is expected to begin directly depositing checks within a few weeks of the bill passing but mailed payments will take one or two weeks longer, Republican Senate aides said Wednesday.
Mr. Trump said Tuesday that he hopes the economy will have “reopened” by Easter, in two and a half weeks. Public health experts and a wide range of economists say that is both unlikely and inadvisable. The country still lacks widespread testing for the virus. Confirmed infections and deaths continue to climb rapidly.
The extraordinary measures that mayors and governors have taken to restrict economic activity, which at their most extreme include shutting down all nonessential businesses and ordering people to shelter in the homes, are unlikely to show success in “bending the curve” of the virus for at least another week. If they prove effective, and the infection rate slows dramatically, activity could be back to normal — or at least something that reasonably resembles it — within a few months for many businesses and workers.
Image
https://www.sammyboy.com/nyt://image/d1b6a919-5c1c-55c0-8aec-d09d9b99b88f
A nearly empty Fifth Avenue in New York City on Tuesday afternoon.Credit...Bryan Derballa for The New York Times
If the measures don’t prove effective, or if they are relaxed under orders from Mr. Trump or defied en masse, experts warn the crisis could stretch much longer, under the growing cloud of a recession. That’s why it’s hard to say if the congressional deal will be enough to keep families from going hungry and businesses from going under.
Still, economists hailed the emerging agreement as a good start — one that works on multiple fronts to keep money flowing through the parts of the economy that have been suddenly rendered inactive.
“The response looks to be proportionate to the extent of the problem,” said Justin Wolfers, a University of Michigan economist who has pushed for a large fiscal response to sustain the economy through the virus shutdown. But, he said, “we have no idea what the extent of the problem is.”
The bill includes $350 billion in loans for small businesses to help bridge their expenses for up to 10 weeks. Firms would not need to repay up to eight weeks of the loans if they refrain from laying off employees, or move by June to rehire employees they have already laid off. Supporters of the measure say those loans, if rapidly deployed, could help thousands of firms survive, at least temporarily.
“It is incredibly important that policymakers credibly convince business owners that these conditional loans will indeed be forgiven and that firms’ owners will be treated equitably,” said Stan Veuger, an economist at the conservative American Enterprise Institute. But, he said, “I am skeptical that the size of the package is large enough to cover the entire shutdown-slowdown period.”
The bill also includes $500 billion in aid to airlines and other large corporations that have been hurt by a cratering of consumer demand amid the crisis. Much of the money would be used to backstop loans and other assistance that the Federal Reserve said it plans to extend to companies.
Those programs are in part meant to encourage companies to keep workers on their payrolls. Even if workers are furloughed without pay, the government will essentially step in and assume paying their salaries while the workers continue to be covered by any health insurance provided by their employers.
For workers who lose their jobs, the bill supplies expanded unemployment benefits for up to four months. For many, those payments will match or even exceed the wages they were earning before the outbreak.
Image
https://www.sammyboy.com/nyt://image/8dae9b35-fe99-52bf-99f1-a0039b6aa07a
The bill also includes $500 billion in aid to airlines and other large corporations that have been hurt by a cratering of consumer demand. Credit...Nick Oxford/Reuters
The bill also includes a $1,200 payment for each adult — and $500 per child — in households that earn up to $75,000 per year for individuals or $150,000 for couples. The assistance phases out for people who earn more.
Neither Republicans nor Democrats love the bill, which was the product of frenzied negotiations punctuated by often bitter partisan anger. Some liberal groups denounced it as a slush fund for corporations. Some conservatives warned that the large amount of borrowed money it would plow into the economy could stoke rampant inflation.
Business groups celebrated it as a late but necessary intervention, and so did many lawmakers and policy advocates.
“Nothing is perfect around here,” Senator Rob Portman, Republican of Ohio, said in a Tuesday speech on the Senate floor. “But if you make perfect the enemy of the good, you’re going to hurt more people, more small businesses will shut, more people will be out on their own and there will be more and more people who will be infected with this virus who otherwise could have been saved.”
Jacob Leibenluft, a senior fellow at the liberal Center for American Progress, said Congress “will need much more over the coming months, but the crucial thing the bill appears to do is begin providing relief to families and communities through channels that can get it out quickly, like expanded unemployment insurance, direct payments and state aid.”
Policy experts and business lobbyists have been warning for days that congressional failure to reach a deal was causing more companies to shutter and workers to lose their jobs. Some said on Tuesday that lawmakers needed to be ready to start work on another plan to avoid any additional losses if the outbreak effects stretch into summer and fall.
“Much of the small business community is facing an extinction-level event,” said John Lettieri, the chief of the Economic Innovation Group think tank in Washington, who pushed heavily for a package of small business loans in the agreement. “Will this bill help? Absolutely. But the lending capacity needed to prevent mass closures and layoffs could be four or five times larger than what is being provided.”
“Congress,” Mr. Lettieri said, “needs to be prepared now for how quickly these resources are going to evaporate.”
https://www.nytimes.com/2020/03/25/...avirus-bill.html?referringSource=articleShare
The bill moving through Congress is more than twice as large as the stimulus package passed in 2009, but it will soothe a shutdown economy for only a few months.
Image
https://www.sammyboy.com/nyt://image/0d2b9eda-1692-51ae-95ee-7a0281b62569
Lawmakers reached an agreement on a $2 trillion stimulus package. That may not actually be large enough, given the enormous economic challenge the United States faces today.Credit...Anna Moneymaker/The New York Times
By Jim Tankersley
- March 25, 2020Updated 5:02 p.m. ET
If the outbreak and the disruptions continue through summer, lawmakers will need to spend even more.
The bill, a compromise between the Trump administration and Republican and Democratic leaders in Congress, includes loans and grants for corporations and small businesses, increased unemployment benefits for workers laid off or working fewer hours amid the outbreak, and direct payments to low- and middle-income individuals and families. Negotiators estimate its cost at $2 trillion.
Taken together, those measures form a novel, temporary expansion of the federal government’s role in the economy: it will be essentially paying millions of Americans not to work, and thousands of businesses not to shut down even if they have no customers, in order to slow the spread of the pandemic. Its cost is more than double the roughly $800 billion stimulus package that Congress passed in 2009 to ease the Great Recession. Yet it still may not be large enough, given the enormous economic challenge the United States faces today.
The economy, which has been shuttered to control the spread of the virus, does not need a jolt to get moving again. The government is just trying to tide people and firms over until it is safe to start back up again.
Viewed through that particular set of circumstances, the deal announced early Wednesday isn’t economic stimulus at all. It’s a series of survival payments. And those payments will only last a few months.
How quickly those payments find their way to households and businesses will be critical. Prospects for swift passage dimmed on Wednesday afternoon, when three Republican senators raised concerns over the generosity of the enhanced unemployment benefits. In a best-case scenario where Mr. Trump signed the law on Thursday, people close to the negotiations said, dollars could flow to small businesses as soon as next week. Many business have little time to spare: The typical small business only carries enough cash to last for 12 days without new revenues, according to research from the JPMorgan Chase Institute.
Latest Updates: Markets and Business
- Stocks rose as Congress moved toward passing the aid package.
- Unemployment claims are expected to dwarf the weekly record.
- Airlines got the bailout they asked for.
Updated 14m ago
More live coverage: Global U.S. New York
“Already balance sheets are running red,” a group of nearly 900 economists, including several Nobel Prize winners, wrote this week in a letter urging quick congressional action. “Businesses that fail during this necessary stoppage time will see the jobs that they provided disappear. With them, much of the productive capacity of the economy will be destroyed.”
The speed of payments to households will also depend in large part on whether individuals have bank accounts: Treasury is expected to begin directly depositing checks within a few weeks of the bill passing but mailed payments will take one or two weeks longer, Republican Senate aides said Wednesday.
Mr. Trump said Tuesday that he hopes the economy will have “reopened” by Easter, in two and a half weeks. Public health experts and a wide range of economists say that is both unlikely and inadvisable. The country still lacks widespread testing for the virus. Confirmed infections and deaths continue to climb rapidly.
The extraordinary measures that mayors and governors have taken to restrict economic activity, which at their most extreme include shutting down all nonessential businesses and ordering people to shelter in the homes, are unlikely to show success in “bending the curve” of the virus for at least another week. If they prove effective, and the infection rate slows dramatically, activity could be back to normal — or at least something that reasonably resembles it — within a few months for many businesses and workers.
Image
https://www.sammyboy.com/nyt://image/d1b6a919-5c1c-55c0-8aec-d09d9b99b88f
A nearly empty Fifth Avenue in New York City on Tuesday afternoon.Credit...Bryan Derballa for The New York Times
If the measures don’t prove effective, or if they are relaxed under orders from Mr. Trump or defied en masse, experts warn the crisis could stretch much longer, under the growing cloud of a recession. That’s why it’s hard to say if the congressional deal will be enough to keep families from going hungry and businesses from going under.
Still, economists hailed the emerging agreement as a good start — one that works on multiple fronts to keep money flowing through the parts of the economy that have been suddenly rendered inactive.
“The response looks to be proportionate to the extent of the problem,” said Justin Wolfers, a University of Michigan economist who has pushed for a large fiscal response to sustain the economy through the virus shutdown. But, he said, “we have no idea what the extent of the problem is.”
The bill includes $350 billion in loans for small businesses to help bridge their expenses for up to 10 weeks. Firms would not need to repay up to eight weeks of the loans if they refrain from laying off employees, or move by June to rehire employees they have already laid off. Supporters of the measure say those loans, if rapidly deployed, could help thousands of firms survive, at least temporarily.
“It is incredibly important that policymakers credibly convince business owners that these conditional loans will indeed be forgiven and that firms’ owners will be treated equitably,” said Stan Veuger, an economist at the conservative American Enterprise Institute. But, he said, “I am skeptical that the size of the package is large enough to cover the entire shutdown-slowdown period.”
The bill also includes $500 billion in aid to airlines and other large corporations that have been hurt by a cratering of consumer demand amid the crisis. Much of the money would be used to backstop loans and other assistance that the Federal Reserve said it plans to extend to companies.
Those programs are in part meant to encourage companies to keep workers on their payrolls. Even if workers are furloughed without pay, the government will essentially step in and assume paying their salaries while the workers continue to be covered by any health insurance provided by their employers.
For workers who lose their jobs, the bill supplies expanded unemployment benefits for up to four months. For many, those payments will match or even exceed the wages they were earning before the outbreak.
Image
https://www.sammyboy.com/nyt://image/8dae9b35-fe99-52bf-99f1-a0039b6aa07a
The bill also includes $500 billion in aid to airlines and other large corporations that have been hurt by a cratering of consumer demand. Credit...Nick Oxford/Reuters
The bill also includes a $1,200 payment for each adult — and $500 per child — in households that earn up to $75,000 per year for individuals or $150,000 for couples. The assistance phases out for people who earn more.
Neither Republicans nor Democrats love the bill, which was the product of frenzied negotiations punctuated by often bitter partisan anger. Some liberal groups denounced it as a slush fund for corporations. Some conservatives warned that the large amount of borrowed money it would plow into the economy could stoke rampant inflation.
Business groups celebrated it as a late but necessary intervention, and so did many lawmakers and policy advocates.
“Nothing is perfect around here,” Senator Rob Portman, Republican of Ohio, said in a Tuesday speech on the Senate floor. “But if you make perfect the enemy of the good, you’re going to hurt more people, more small businesses will shut, more people will be out on their own and there will be more and more people who will be infected with this virus who otherwise could have been saved.”
Jacob Leibenluft, a senior fellow at the liberal Center for American Progress, said Congress “will need much more over the coming months, but the crucial thing the bill appears to do is begin providing relief to families and communities through channels that can get it out quickly, like expanded unemployment insurance, direct payments and state aid.”
Policy experts and business lobbyists have been warning for days that congressional failure to reach a deal was causing more companies to shutter and workers to lose their jobs. Some said on Tuesday that lawmakers needed to be ready to start work on another plan to avoid any additional losses if the outbreak effects stretch into summer and fall.
“Much of the small business community is facing an extinction-level event,” said John Lettieri, the chief of the Economic Innovation Group think tank in Washington, who pushed heavily for a package of small business loans in the agreement. “Will this bill help? Absolutely. But the lending capacity needed to prevent mass closures and layoffs could be four or five times larger than what is being provided.”
“Congress,” Mr. Lettieri said, “needs to be prepared now for how quickly these resources are going to evaporate.”
https://www.nytimes.com/2020/03/25/...avirus-bill.html?referringSource=articleShare
Looking around, the global stimulus will top at least $4trillion in this first tranche alone. Just Germany alone, already announced $800b.... Let's see... turbulent times.. ups and downs, but hey, no downs, how to have ups? Just hang tight, keep calm and punt within means...
https://www.dw.com/en/coronavirus-what-aid-packages-have-governments-agreed/a-52908669
https://www.dw.com/en/coronavirus-what-aid-packages-have-governments-agreed/a-52908669
- Joined
- Sep 22, 2008
- Messages
- 76,195
- Points
- 113
Even deadly flu season did not cause such havoc.
- Joined
- Jan 5, 2010
- Messages
- 12,289
- Points
- 113
Those who bought into the stock market will likely be rewarded by a volatile but steadily rising market heading into august/september.
But beware, a recession is about to descend. Going into sept/oct, expect to see fireworks on the downside.
This is still likely to be a huge down year.
But beware, a recession is about to descend. Going into sept/oct, expect to see fireworks on the downside.
This is still likely to be a huge down year.
- Joined
- Sep 12, 2019
- Messages
- 7,708
- Points
- 113
Dont buy stock yet unless u know rich investors and follow them where they pump money to! Instead, forex still can trade! Why trade stock when forex is much higher leverage and can long and short with ease!
- Joined
- Jul 14, 2008
- Messages
- 89,158
- Points
- 113
I shopped at Cold Storage yesterday.
Got Passion card?
You high risk appetite...
SIA today halted trade ah? Why ah? Or i see wrong? Long time no see SGX
Last edited:
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- Jul 14, 2008
- Messages
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