President Trump: The NEW one and only politics thread

Neutral Corner · Mar 23, 2020

daemon said: ↑

None of us want to live in the economy that's coming. That's doubly true for the one that will exist if this shutdown carries on longer than 15 days. The best trick Trump ever pulled was convincing people that everything he says is wrong. Granted, a lot of what he says is wrong, and most of the rest is intellectually dishonest at best. But at some point we're going to have to come to grips with the fact that a 1 percent death rate is better for society than a 30 percent unemployment rate.
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"Bring out your dead! Bring out your dead!"

Neutral Corner · Mar 23, 2020

BitterYoungMatador2 said: ↑

Maybe we can finally get those long discussed death panels !!!
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They're already here.

Michael_ Gee · Mar 23, 2020

The Big Ragu said: ↑

I don't need, or want, a video with Michelle Obama or Ellen DeGeneres or Kelly Clarkson.

But I wouldn't mind a president who is honest about what is going on, then got out of the way. ... oh, and had a straight-shooter type come out every day and give all of the best-available information to people. If the president was charismatic enough to do some reassurance and inspiration, great, but that isn't Donald Trump -- he's going to look like a douche, because he is a douche. So just be honest and step aside and you have done your job. It doesn't need to be produced like a reality TV show or something for social media. That doesn't help anyone.
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All the social science research indicates that doctors, who enjoy a very high level of trust with the public, should be the primary communicators in any public health emergency. The job of a Governor or President is to say, "here's what we're doing in response to expert medical advice. Now here are those experts to tell you the whys and hows of these policies and this emergency."

lakefront · Mar 23, 2020

Michael_ Gee said: ↑

He's completely useless. He honestly thinks that all those votes he got because people didn't like Hillary means they love him. And he surrounded himself with dirtbag leftists whose primary objective is to destroy the Democratic Party. Fuck him. He's Trump except with decent social instincts. Deep down, he's all about the adoration, too.
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Just a reminder...

Popular vote62,984,828
65,853,514

Percentage46.1%
48.2%

lakefront · Mar 23, 2020

So james woods is stirring up the pitchfork, torches and gallows type over on twitter. Tweeting on the trending 'nancy and chuck' thread.

Did not think of this until now.
We are so early into this and this shit is starting.
Now I feel a little fear.

Neutral Corner · Mar 23, 2020

Twirling Time · Mar 23, 2020

The Big Ragu said: ↑

The Fed is buying corporate bonds (illegally, how is this possible?) for all intents and purposes. Here is the term sheet: https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20200323b2.pdf

It says, they can now go all-out Japan and buy ETFs: "Eligible ETFs. The Facility also may purchase U.S.-listed ETFs whose investment objective is to provide broad exposure to the market for U.S. investment grade corporate bonds."

And LQD, the largest corporate bond ETF, surged on the news. It also is coming back now.

I know this is meaningless to most people on here, but 6 years ago, this kind of news would have sent traders in trying to front run their buying. That was the result of their bond buying in treasuries and mortgage-backed securitie. Those same traders then took that "carry trade" money and ran up the prices of riskier assets -- stocks, high-yield bonds, etc. That has been the story of the last 7, 8 years.

Now, unless something changes. ... The Fed isn't getting that monkey behavior the way they want. They tried to backstop commercial paper, money markets, short-term muni bonds, and it hasn't stopped the panic. Now they think they can create stability in corporate debt. If that doesn't work, what is next? Are they going to give themselves authority to buy stocks and junk bonds directly to prop up prices of all the overpriced assets they have created over the last 10 years with freshly-created money? And what do they think that accomplishes?

It looks like it is going to be up to Congress to reflate the bubble. Assuming the Democrats and Republicans agree on something, and they announce $2 trillion (or whatever ridiculous number they come up with) of handouts and bailouts and Santa Claus money, what if risk assets don't reflate on that either anymore?

Until the Fed did yet another "whatever it takes," this morning reminded me of the day in October 2008, when TARP failed the first time and the stock market tanked. It then recovered when they finally passed the bill. That is what they are hoping for now.

The problem is that the underlying debt and leverage that created an "everything bubble" this time, is way bigger than it was in 2008. There may not be a way to create that fantasy anymore and kick the can down the road, in which case, the deleveraging is going to happen anyhow, while they flail away looking powerless.
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Whatever the Fed is trying to pull out of its ass isn’t working in the short term to be sure. Dow down -500 and S&P down -60.

cyclingwriter2 · Mar 23, 2020

Latest I am hearing from Trumpists: “this proves the government doesn’t work well in a time of crisis! This is why private industry must rule.” Now, when I point out that the government is failing because of trump, they go silent.”

swingline · Mar 23, 2020

BitterYoungMatador2 said: ↑

Maybe we can finally get those long discussed death panels !!!
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Fuckin’ Obama ...

Inky_Wretch · Mar 23, 2020

Damn Democrats for not supporting this wonderful piece of legislation!

The Big Ragu · Mar 23, 2020

Twirling Time said: ↑

Whatever the Fed is trying to pull out of its ass isn’t working in the short term to be sure. Dow down -500 and S&P down -60.
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We'll see. They have made themselves completely impotent. But the price action today would be a set up for a massive short squeeze at any other time. It just needs the catalyst and maybe that will be Congress passing a $2 trillion spending bill. I strongly suspect that this time it is going to be a sucker's rally designed to suck in as many people as possible. Time will tell.

heyabbott · Mar 23, 2020

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President Trump: The NEW one and only politics thread

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President Trump: The NEW one and only politics thread

Neutral Corner Well-Known Member

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