The Fed fired off another bazooka (to help stave off a collapse in money market funds). https://www.federalreserve.gov/newsevents/pressreleases/monetary20200318a.htm
The trump gains have been completely erased now. Strongest and best economy ever in history going down the tubes, was always obvious. Funny only the "trump haters" seemed to see this coming and the trump pumpers are quiet. Maybe the love is waning but not before the damage is done.
Current economic disaster is like three neutron bombs dropped on us, market analyst tells Boom Bust https://www.rt.com/business/483493-us-fed-economic-disaster/
Dow is in danger of having 5-6k wiped off it in one fell swoop. I have a feeling we haven't seen true carnage yet.
What a racket. I wonder how much they've made off with in total under the guise of keeping the economy afloat. Most people are completely ignorant to the theft.
The 99 percent that are being robbed are more worried about a flu that kills 2 percent. Like sheep being led to the slaughter.
And it's always been said that the elite has ways to make the citizens go along willingly. Not only will they accept their new reality but they will embrace it in desperation and fear.
The masses are incredibly bumb. Things I keep hearing from 99.999 % of people around me: 1) "this is just hysteria" or "the hysteria will be over and then I'll go out to buy some food" - I try to explain them about the supply chain interruption, consumer price inflation, the link between higher demand and higher prices, the decrease of supply due to excessive demand (people stack 40 pieces of the same product and what should be on the shelves is in everyone's kitchen or bathroom)... ALMOST NO ONE UNDERSTANDS that THIS IS A SERIOUS SITUATION that might lead to Venezuelification - but then they laugh me in the face that I'm naive and just too afraid... 2) they think the sellers are raising prices solely to make more money: again, people think it's just greed, but no: higher demand >>> higher prices, scarcity >>> higher prices, more effort into making more products with the same amount of workers to satisfy demand >>> higher prices..., harder to find resources to produce more products in order to satisfy demand >>> higher prices, any kind of crisis >>> higher prices, stock market crash >>> higher prices, worse exchange rate/weakening currency >>> higher prices effort to reduce demand due to huge uncontrollable crowds agressing food supermarkets >>> higher prices (to moderate demand) 3) "the flu is more dangerous" - needless to comment that this could potentially spread more than the flu and kill MILLIONS; also: we don't have immunity/immune system trained to fight Corona, whereas we are able to cope better with flu 4) "don't go to the stores, because they will bring more food from the deposits" - then I explain them the "just in time delivery system" and supply chain problems, but get ridiculed again... which deposits, what food? where does that come from? ...it all comes from somewhere, but people just don't understand that WE LIVE ON A FINITE PLANET and EVERYTHING IS FINITE except love and hate 5) they watch economic news and don't understand the connection with Corona and believe it's just on "emotional basis" and things will return to "normal" Needless to explain QE, debt, fractional reserve lending, supply chain interrupution, economic slowdown... Corona just amplifies the already existing problem. But again, it's the measures undertaken against Corona that interrupt/destroy/ruin economies. Yes, necessary measures, but economically suicidal. 6) they don't understand the trends - what might be coming: ->> QE4 (most people have no idea what it is... let alone, the impact on their lives) ->> we'll be forced to use digital money (because cash is "contaminated"), but then negative interest rates and bail-ins and (who knows what else) will come that'll literally rob us ->> socialism (oddly, many are enthusiastic... just like the masses were for Lenin and Trotsky) ->> they delay debt for now, but later people will have to pay a huge unbearable chunk (this is why it's nuts to have ANY credit) 7) lockdown across the world, closing of banks ->> it's a good idea to tackle the pandemic, but what if these measures will stay the same for a longer time? (Albania and Spain have banned people from going out on the streets, many bank offices have closed voluntarily in Hungary, Slovenia only allows less than 5 people to walk together in group on the street) DICTATORS would love these measures + some governments are already being "doubled" by the army on their side (so far just "helping"), but the equivalent of "marshal law" is already in place in many European countries (under these "emergency situations" the laws are rather military laws, so it's a "junta"-like atmosphere) ->> closing of the banks will lead to bank runs later on as the economies turn worse ->> emergency situations and marshal law essentially mean lawlessness, but not anarchy, just that those in power "forget" about your rights 8) this is worse than SLOWDOWN, this is almost STOPPING the economies ->> imagine the implication for the social systems, the GDP's, the state budgets around the world(!!!) - 1 month stop is terrible, 3 months is catastrophe! 9) China gains power, Russia is barely touched by Corona! ->> not every country is severely affected by Corona: Russia is simply "too big", while China is recovering, while the West is being eroded: I have a feeling that the anti-China boomerang will hit some blonde guy between his legs (yes, that arrogant blonde guy with hay-hair) - China and Russia could turn on the west "empowered" during or after this pandemic ends 10) medical system overload due to Corona: they cannot help you if you have ANY PROBLEM - no matter how serious, how painful, how deadly Still, I say: let's hope for the best. Peace!
https://abcnews.go.com/US/wireStory/fdic-warns-scams-banks-trouble-outbreak-69674193 Nice little article telling us not to believe the fraudsters that are saying to withdraw our cash from the banks. Today...bank closures in gunnison. "Will reopen at a later date" is all they have to say. I'm glad that I had mentioned to my son that he should probably withdraw his cash so he has been. He withdrew the last $2500 just yesterday. Now he would be screwed. Timed it just perfect!
What do you think - should we withdraw all? or just some of it? Because if digital payments are trendy and there are transaction limits... you might want to keep a large amount in the bank. Also, because they might ban cash transaction in order to "limit the spread of Corona".
I dont use banks so it was only him. He sells on ebay and amazon and needs it. He also has some bills that I dont have since I'm older and smarter haha. I only use cash unless I'm ordering something online and I need it to pay. I convert my cash as I get paid and save in cash what I need. I dont really have many bills so I dont write many checks, maybe just a few in a year if that. I was just concerned about him and his wife since they use the bank so I had mentioned for him to think about it. Well hes a stacker too so within about 5 minutes he said let's stop by the bank and hed withdraw some during the week. Now its sitting in his safe, no reason to have it anywhere else. He told me his savings went from 1.3% interest to .3, practically nothing. My mom is the opposite. Shes worked for the banks for years, says it's safe in there, fdic insurance will cover all of us, they are solvent. She could be right and maybe we are all safe but the banks are closed anyway. To me it's more simple, you can either you can get your money or you cant.
Yea, this is something I've been pondering. Not because I'm currently concerned about the viability of Australian banks, but because I'm concerned about the panic mentally of the Sheeple. If one major commercial bank fails, the Sheeple are too ignorant to discern the difference between commercial and retail banking, and that may start a run on cash. Am I currently concerned that the banks will fail, in Australia, no. But I predominantly only use cash now, so not being able to access any would be very inconvenient for me. With that said, I have always kept enough in my account to cover a minimum of 3 months of automated payments, and will continue to do so.
Its trumps economy. Who cares about the virus. Drumphs economy was already in free fall before the virus.
did you forget to take your meds again. 99.999% of that is utter made up fantasy pure and uttter crap
