Posted on 03/10/2020 3:18:43 AM PDT by DoodleDawg
President Trump said Monday he is seeking major policy changes that White House officials hope will arrest the widening economic turmoil caused by the coronavirus outbreak by providing immediate federal aid to workers and a number of business groups.
But his proposals were quickly brushed aside by key congressional Democrats, who are working on their own plan that could be released as soon as this week. The sparring comes as financial markets and the public increasingly look to Washington for answers as fear continues to spread.
Trump said he will ask Congress to cut payroll taxes and provide relief to hourly workers suffering from the economic fallout of the coronavirus. He also said he was seeking to provide assistance to the airline, hotel and cruise industries, which are all suffering as Americans rapidly cancel travel plans.
(Excerpt) Read more at msn.com ...
Scumbag rats will play games and it will go know here because they will not work with him
But the proposal will have served its purpose.
Which is?
Winning back the House.
Fool the stock market into thinking everything’s okay?
it’s not the end of the world but I personally wouldn’t put more money into the market right now except my monthly deductions for 401k.
There’s too many variables out there right now to jump in. And don’t be surprised if you jump into a stock only to find out in 2 weeks that it lowered its earnings expectations for the year.
I think by this summer things will look good again if this virus doesn’t explode more. Right now? no.
They don't fool that easily.
it’s not the end of the world but I personally wouldn’t put more money into the market right now except my monthly deductions for 401k.
No, it's not. This isn't 2008. The underlying economy under Trump is still pretty sound. This is a reaction to the oil markets and still a reaction to the coronavirus. It'll pass.
LOL! Well we'll see about that.
I agree.
There are some excellent buying opportunities in the stock market. For example, the dividend yield on XOM is 6.75%. Even if the yield decreases by 50%, the yield is 2 to 3 times the yield on 10 year T bills.
If I had some spare cash, I would definitely buy XOM.
6.75% annual, or quarterly?
Annual.
lol damn! /greed
Oh puh leeze.
Yesterday’s dump was caused by oil, not China Flu. There’s a fight going on between Putin and the Saudis.
Now that we’re energy independent, we don’t care.
If I could pull cash out of my house fast enough, I’d be buying on the dip like a crazy woman. Probably oil stocks.
Is there anyone in the political class, in either party, who can look beyond the next election? Let alone look 20, 30 and 50 years ahead? We are running the country into a ditch, and the ditch is getting a lot closer.
So if dividends are dependent on corporate profits, and oil prices just plummeted, I would hope that the cost per share is a real bargain right now, equivalent to lower potential dividends, because oil prices (and profits) seem a bit unpredictable.
I think this answer is two-fold.
A payroll tax cut isn’t going to help the person stuck in quarantine for 14-28 days and lives paycheck to paycheck. They will need some sort of ‘cash relief.’
A payroll tax cut will help support the economy while it recovers from the corona crash in the next 6 months.
My business is an auxiliary business to the travel industry. As travel becomes less likely...I will be severely impacted. A lot of small businesses will suffer or go bankrupt due to this crazy virus. It isn’t all about the stock market. It needs to be about the businesses that help make the economy run.
We are running trillion dollar deficits and fighting a viral outbreak. A tax cut right now is laughable. It will never pass and will be viewed as “another bailout for the rich.”
Even Democrats were criticized by their own base back in 2009 for passing the stimulus bill that bailed out the banks but provided little relief for Americans losing their homes. It’d be very hard to ever pass something like that again.
My son worked at a catering company in Seattle. Most of the jobs have been cancelled. Catered lunches at companies have gone from 300/business to 30.
He is single, has another job. He quit in hopes of the company surviving and him getting a better position if they recover. Also giving people trying to support a family a few more paychecks.
He’s young and thinks it is a bunch of hype over nothing.
I’m old and think it is a big deal.
I hope he’s right! (But he is also thankful for the stuff I prepped for - including him.)
He should worry about our two dead soldiers in Iraq. Get them out!!!!!!!!!!!!!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.