Tag: Stock Market

Aztec Politics: Trump sacrificed 200K by Downplaying Covid-19 to save the Stock Market from Panic

When Trump says he did not what to “panic” the “country,” what he really means is that he did not want to drive down the stock market. In all the commentary I heard about the phrase in the media yesterday, I heard no one make this point. People were disgusted with Trump’s two-facedness, which certainly cost tens of thousands of American lives. But they still took his statement at face value as an expression of concern for the people.

Aztec Politics: Trump sacrificed 200K by Downplaying Covid-19 to save the Stock Market from Panic

The secret behind the booming stock market in the face of the coronavirus crisis – ABC News

Australian currency is seen next to a wages graph

American Economy is in Intensive Care (ODT)

But with rates now at zero, money printing — or quantitative easing as it is called in polite circles — is all they have left.

It’s cash that’s being created out of thin air.

And a huge portion of it is being poured straight into stock markets regardless of what is happening out there in the real world.

The graph above tells the story. In the past few months, America’s central bank has bought more than $US3 trillion ($4.37 trillion) worth of “assets”.

These include US government debt, mortgage debt and other debt securities, using cash it has generated out of thin air, simultaneously driving interest rates down and flooding the economy with cash.

It has spent more than double the amount outlaid at the height of the global financial crisis. And, it appears, we’ve only just begun.

The biggest side effect, however, is that wealth becomes more concentrated among the already wealthy.

If you own a house or stocks or bonds, you’ve become rich without even trying.

 

via The secret behind the booming stock market in the face of the coronavirus crisis – ABC News

Old Dog Thoughts- Costs Costs Costs Don’t do anything is the LNP and News Corpse solution

Large outbreaks in Italy, South Korea and Iran were reported in the past few days, suggesting containment measures have not stopped the virus' spread.

Fighting Fake News with REAL,25/2/20; Pandemic, Stock markets and the wealthy; Australian LNP try to say Coal and Gas are clean economically; Fake News