Thanks, Trump! Maybe, if you would have acted sooner instead of wishing it away...the situation would have been better.
Basically, from what I'm reading, the money is going to companies to support their payroll and offer bonuses for hiring people. What are those bonuses though...the only way a company is going to take advantage of it is if you give them over 100% of that person's salary. it isn't like hiring that person is going to bring in more business during the stay-at-home edict. Interesting, but I'm not sure how this helps contractors or the self-employed or if the bonuses are going to be enough to entice employers to rehire people until the last possible day to reap the rewards (not to mention that this only pays up to 80% of the national "median" salary...which isn't going to help businesses/employees that make more than $47,500 a year.
The host doesn't understand that when a billionare family loses their revenue making assets for a year, they will still live a life of luxury. In a time of crisis we definitely don't need to play small violins because a wealthy family decided they couldn't afford adding an additional summer home to their vacation destinations.
I think that the phrase "deserve to get whipped out" might have been a touch aggressive given who the typical CNBC viewers are. Chamath Palihapitiya could have softened his language and still made the same point. The big investors knew the risk when they bought in. The federal government did not underwrite this risk. The airline/cruise/hotel industry likely did share buybacks instead of having money on hand that would allow them to weather this storm (at least a little better).
^ It's an open secret that there's a free lunch buffet provided your bank account is "this high" to get in. The anchor might not be invited to the party but his friends make him wish he and his viewers does.
16 million people just got laid off but U.S. stocks had their best week in 45 years https://www.marketwatch.com/story/1...est-week-in-45-years-2020-04-10?mod=home-page
And yet Goldman just called the bottom in the market for 2020. Unbelievable. The US is beyond a banana republic now. The Fed should just keep printing money so no one has to work or pay taxes ever again. But I guess their scheme only works so long as Main St. doesn't reap anything more than table scraps from the printing press. You think inequality was bad before corona, you ain't seen nothing yet...
15-20% unemployment. Retail sales of course has plummeted (probably down 10%+). Aren't we a consumer driven economy? It looks extraordinary bad now and in the short term of weeks to a few months. How much longer term damage will this do (not talking about debt - that's a killer)? How fast would unemployment and sales rebound? Said if the virus is gone by Aug.... is that what wall street is betting on? Or is there something else wallstreet is seeing ($$$$ from the gov, big busn will successfully navigate this and will consolidate even more power and market share - see Amzn >>> hello UBI, .... ) If there isn't a real and signf unemployment bounce (said to "recession level"), can the stock market hold? The disconnect is weird: we are heading to the worst global recession since the great depression >>> stock market hooray. The market seems to either be in denial or the premise (great great global recession) is wrong.
Honestly, there's no where else but the market to "store" money. If you put it in bonds, you'll lose value from inflation because interest rates are too low. if you put it on commodities, you'll lose value from inflation (due to governments artificially keeping those low). You have to put it in the market because we've deemed it too big to fail, and we'll keep printing money until the dollar collapses. That's why the market keeps going up. I'm side lined right now because I think there's another big drop to come over the summer.
