ECON What’s this $6,000,000,000,000 rescue thing?

Yes, that’s what I meant. A couple of days ago, we heard on the news about the 2 trillion plan, and another 4 trillion for “the fed”, as I heard it. My wife thinks they said “the feds”, and thinks it was money for the government to give to various agencies and the states. My take was the money the Fed will just conjure up to prop up the economy and banks and such. Have heard nothing further to clarify.
 

Dozdoats

On TB every waking moment
The Bigbanks are getting a trillion A DAY last I heard. PLUS all the other various trillions getting tossed here and there. But take your lousy 1200FRN$ and be happy, peasant.

Time to start thinking in QUADRILLIONS (a thousand trillion) now - till it all goes bust. I'd say it won't be long now, but they have postponed it far longer than I thought possible - again, theoretical economics meets practical FRAUD- and loses.
 

Dobbin

Faithful Steed

WASHINGTON — An emergency stimulus package to bail out the US economy amid the coronavirus pandemic will total $6 trillion — a quarter of the entire country’s GDP, the White House said Tuesday.
Trump administration economist Larry Kudlow said the package would include $4 trillion in lending power for the Federal Reserve as well as a $2 trillion aid package currently being hammered out by Congress.
“This package will be the single largest Main Street assistance program in the history of the United States,” Kudlow said at the White House coronavirus task force briefing Tuesday evening.
Included in the package is Congress’ almost $2 trillion emergency bill, which, when passed, will issue direct checks for American families, bailouts for the airline industry and a $350 billion loan program for struggling small businesses.
The other $4 trillion will allow the Federal Reserve to make huge emergency bailouts of whatever entity it chooses — a measure that was used to prop up Wall Street firms from collapse during the 2008 financial crisis.
“This legislation is urgently needed to bolster the economy,” Kudlow added, warning the economy had tough times ahead.
“We’re heading for a rough period but it’s only going to weeks, we think. Weeks and months. It’s not going to be years, that’s for sure,” he said, echoing comments from President Trump that the economy will bounce back to its pre-pandemic high.
Kudlow, a former Reagan administration adviser and media personality, said the huge bailout would “position us for what I think can be an economic rebound later this year.”
A tidal wave of US workers is facing unemployment in the wake of the COVID-19 outbreak — with White House officials warning of a 20 percent unemployment rate.
There is a video at the link, and several live links which came over with my cut & paste.

Dobbin
 

Dozdoats

On TB every waking moment
From the article at Dobbin's link above- quoted from Kudlow:

“We’re heading for a rough period but it’s only going to weeks, we think. Weeks and months. It’s not going to be years, that’s for sure,” he said, echoing comments from President Trump that the economy will bounce back to its pre-pandemic high.

DAMN, that is some high grade hopium. Wish my dealer sold stuff half that good.
 

Hfcomms

EN66iq
That other 4T is for the 'exchange stabilization fund' in order to manipulate and prop up the markets. They must be running low on ammo after all the monetary injections the last six months.
 

Grouchy Granny

Senior Member
The entire farce will do nothing, NOTHING, but accelerate the collapse. Gotta laugh when they call it the "stimulus package." How do you stimulate something that's already dead?
With the defibrillator hanging on the wall in the hallway...… But only if it's been charged and is working, so that leaves the dems out.
 

FREEBIRD

Has No Life - Lives on TB
From the article at Dobbin's link above- quoted from Kudlow:

“We’re heading for a rough period but it’s only going to weeks, we think. Weeks and months. It’s not going to be years, that’s for sure,” he said, echoing comments from President Trump that the economy will bounce back to its pre-pandemic high.

DAMN, that is some high grade hopium. Wish my dealer sold stuff half that good.
Send me some.
 

nadhob

Senior Member
Six Trillion might as well be 10 Trillion, which it may morph into, by the time this is done. Dosn't matter, add that to whats already in the book, and you'll quickly understand it can never be paid back. Buy gold....for you...your kids....your grandkids.....
 

jed turtle

a brother in the Lord
Six Trillion might as well be 10 Trillion, which it may morph into, by the time this is done. Dosn't matter, add that to whats already in the book, and you'll quickly understand it can never be paid back. Buy gold....for you...your kids....your grandkids.....
Those with insight might buy seeds instead.
 

Dozdoats

On TB every waking moment
People are all the time finding hidden/buried hoards of PMs put in place by owners who for a variety of reasons never returned to collect them. Thing is, those hoards are usually worth more when recovered than they were when they were hidden.

The primary task of money (REAL money, not currency/digits etc) is to transfer value across distance and through time. Those hidden hoards did exactly that, no matter who recovered them.

How will your stocks/bonds/treasuries/FRN$/whatever do at that?
 

Ractivist

Veteran Member
The $1200 is simply to keep the masses from revolting next month.......buying time. 2 gets you 6, gets you 10....it is a numbers game with fiat money that buys up assets, with emphasis on foreclosures......fake money, buys hard assets, if you are in the club. This shit is gonna hit the fan.
 
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