Posted on 05/01/2020 5:04:20 AM PDT by MeneMeneTekelUpharsin
New York (CNN Business)The coronavirus pandemic has exposed a gaping disconnect between unprecedented economic pain on Main Street and extreme optimism on Wall Street. The US economy is collapsing as never before. More than 30 million Americans have filed for unemployment. Millions of small businesses have requested forgivable loans to stay alive. And US GDP could decline at a breathtaking annualized rate of 40% during the second quarter.
And yet the stock market is racking up massive gains. Even after retreating on Thursday, the S&P 500 spiked 13% in April. It was the best month for US stocks since January 1987. It's common for Wall Street to price in a recovery long before Main Street feels it. The stock market is not the economy, after all. Investors look three to six months out into the future.
(Excerpt) Read more at cnn.com ...
Something's coming...those of us who worked for the FDIC from 2008-2014 are being contacted. They're building a database of those who would be open to a return gig at the FDIC.
Had I been able to score a permanent position at the FDIC, I'd still be there. One of the best agencies to work for, I loved my time there. The people I worked with are top notch folks.
Mr. GG2 watched a YouTube video yesterday that reported the Congress is putting together another CARE package where everyone will get $2,000 in May and every month after up to six months depending on how slow the economy picks back up.
Really? A market that sees a half billion trades, and a trillion dollars in value, traded DAILY... is "propped up" by a single entity that doesn't create a billion dollars per year? Please. It can influence... it cannot "prop up".
Interesting...any theories on what’s up?
Without the Fed pumping liquidity into the market it’d probably be at 8000 pts now...pretty much propped it up.
How many of Our Ohio friends are in the audience? Did anybody see what our good governor did today? He extended the States stay-at-home shut down until the end of May there is no other reason to of done that except to do the dirty work of casic and baner and try to lose it for the republicans so they can get trump outer there in November. Whereby sacrificing our state.
If CNN’s alleged “business” department doesn’t understand why the stock market shoots up while bad news is still coming out about the economy, it tells you about how much the department’s “insight” is worth. You learn that in Business 101.
I agree....President Trump is the catylist. No one in the country can multi-task like our President and without him at the helm, the country would totally collapse....and even the Dems realize that.
Crashing the economy is the Dem/Media strategy. Red states should open son.
There is so much extra money being pumped into the system by the Fed and Congress, I'm sure there's concern about the effects on the banking system...wouldn't be surprised if they're pouring over the results of the most recent stress tests of financial institutions.
I worked in the area that oversaw the resolutions of mostly smaller banks. I have every confidence that the FDIC is on top of things.
The way they managed the crisis should be a template for governmental operations. I was one of about 1000 new employees hired on a term contract (2 years). We started out with satellite offices in Jacksonville, Southern Cal, and Schaumberg, IL. As the workload slowed down, these 3 offices were closed, and it was assumed by those of us in Dallas.
Management didn't screw with us, as we all knew our jobs would be ending within a 2-4 year period. We were all happy to have jobs at the time, too.
This is what the Democrats and their lackeys in the media dread to believe: President Trump is a genius, who is far above them intellectually and morally.
They are finding this harder and harder to deny, though, of course, there is no limit to the human capacity for denial.
One would expect TRUTH to begin to penetrate their denial, and it would if they were honest people.
They cannot allow TRUTH to shake the paradigm that they hold sacred. Their entire belief system would come crashing down.
But there's more. Something that must not and can not be exposed is driving them--driving at least their leadership. There is something powerful and deeply threatening that they're hiding--whose disclosure would devastate, perhaps destroy them--and which they must defend no matter what the cost.
This desperation is driving them.
Pray that TRUTH will come to light and reveal whatever it is that they are so desperate to hide!
The survival of the USA depends on it.
The economy is NOT collapsing. It has been SHUT DOWN. That’s a big distinction. A collapse is caused by uncontrolled circumstances and a recovery is unpredictable. A shutdown can be reversed as easily as it is started.
Now, the restart may not be as abrupt as the shutdown was, for various reasons. It is clearly as not as dire as a ‘collapse’.
Garbage. The market reacted, probably went too far, and has come back some. No one knows where it goes next. The media is systematically destroying trust in all non-govt activity.
“It is clearly as not as dire as a ‘collapse’.”
I think this is worse since we created a monster and scared everyone into losing all hope, rationality, and common sense. A collapse has people working to undo it. This is an illegal/unconstitutional shutdown which screwed business owners who now no longer see anything but risk in reopening, plus half the people with low IQs are going along with absurd measures for reopening, like wearing useless masks.
Clombing back to where stocks were is only a gain for new money. Otherwise tjese “gains” are just pissing on my leg and saying it is raining.
You are spot on, but folks are ready to kill for their opinions. Getting bad.
this ‘single entity’ the fed, creates 10s of billions of dollars a day! money created out of thin air.
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