The Federal Reserve cut interest rates to zero on Sunday and launched a massive $700 billion quantitative easing program in response to the COVID-19 virus.» Subscribe to MSNBC:
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US Federal Reserve Cuts Rates To Zero, Launches $700 Billion Quantitative Easing Program | MSNBC
Give money to banks and Wall Street: great! Give money to working people: Oh, no, that is socialism…
Yohan you are the naive one. Or just stupidly arrogant. It is not a small government action to pay this out, nor do the rich pay a higher rate of tax on investments than a standard worker. You can google the tax rate of investments returns. Companies generally use money to buy back shares rather than make investment and ordinary people spend money which stimulates the economy. You are literally completely wrong factually, on everything you said. They might store it now when the market is volatile? Do you understand the point of theses payments. Sitting on the money and spending later wouldn’t help the temporary economic issues caused by the virus. I’ve never seen someone be so uninformed and yet so certain. I suppose I should applaud your confidence but you aren’t expressing an opinion. Just lying or completely out of your depth.
Republicans here are once again justifying a huge payout to corporations while they suffer. Content to be taxed to support the wealthy while no such help comes to them. Just as long as they can vaguely blame a Democrat and not be called a commie. This is literally sick pay for corporations.
@Tha Dood i was agreeing with you
Tha Dood
Except it is.
And what we’re discussing isn’t Reaganomics.
Holly Hilt Trump is providing 1.5 trillion in government loans to Wall Street …. with a National Emergency of $40 or $50 billion and the Fed just lower ….. pork …. Citizens of this great country the United States of America need medical assistants. They don’t need to worship “In GOD We Trust” we need to help “We The People”.
interesting do you know anything about Mitch McConnell pork he amended for Kentucky? Can you say one billion? Or the pork his wife approved Elaine Chao reportedly assigned a liaison dedicated to coordinating infrastructure projects in Kentucky during her husband’s reelection campaign.
Last month, Senate Majority Leader Mitch McConnell stonewalled a plan to fix the nation‘s roads, bridges, mass transit, and other crumbling infrastructure, despite the urgency of the issue and the outline of the deal receiving rare support from both Democrats and the White House. But, as it turns out, McConnell isn’t opposed to all infrastructure spending. In fact, he’s quite open to it when it‘s flowing specifically to towns in his home state, thanks to a special arrangement with the Transportation Department set up by his Cabinet secretary wife.
Politico reports that Elaine Chao, spouse of Mitch, “designated a special liaison to help with grant applications and other priorities from her husband Mitch McConnell’s state of Kentucky, paving the way for grants totaling at least $78 million for favored projects as McConnell prepared to campaign for reelection.” That liaison, Chao’s current chief of staff, Todd Inman, wrote in an email to McConnell’s office that Chao had “personally asked him to serve as an intermediary”—a benefit bestowed on no other state—and that he should be contacted if there were any “Ky-specific issue[s]” that should be flagged for the secretary’s attention. According to reporters Tucker Doherty and Tanya Synder, that included grants with special significance to the senator, such as a highway-improvement project that had twice been rejected.
Beginning in April 2017, Inman and Chao met annually with a delegation from Owensboro, Ky., a river port with long connections to McConnell, including a plaza named in his honor. At the meetings, according to participants, the secretary and the local officials discussed two projects of special importance to the river city of 59,809 people—a plan to upgrade road connections to a commercial riverport and a proposal to expedite reclassifying a local parkway as an Interstate spur, a move that could persuade private businesses to locate in Owensboro. Inman, himself a longtime Owensboro resident and onetime mayoral candidate who is now Chao’s chief of staff, followed up the 2017 meeting by emailing the riverport authority on how to improve its application. He also discussed the project by phone with Al Mattingly, the chief executive of Daviess County, which includes Owensboro, who suggested Inman was instrumental in the process.
“Asset purchases” = another corrupt bailout for rich people who took risks and lost
@Really Dude? He isn’t keeping companies from moving jobs to Asia. That was just lies that he told to get elected. You are aware that he himself has factories in Asia, right? And Universal health care will not cost the same because they amount will be capped, whereas now insurance companies can raise premiums whenever they want. But lets play devils advocate; even if it did cost ME the same amount, I could sleep a lot easier knowing that what I am paying has the added benefit of ensuring every child in this country could see a doctor when they need to. So it would still be totally worth it.
Nemato I would prefer a recession
@Serenity Wintirs Universal healthcare is a bad idea. I sleep just fine knowing me and MY kids are completely covered. I pay nothing out of pocket thanks to my benefits. This is called capitalism. The more competition there is for insurance, the lower the rates are going to be. So they can’t just raise premiums Because they’ll lose clients. Saying it’s capped is false. The government can tax you more if they so choose. Just because you let them do it anyway. Universal healthcare is long waiting, limited procedures, and high overall cost. Are you going to take away the insurance I ALREADY pay for? More than half of Americans have private insurance that they pay for. Not to mention doctors will now be government funded rather than privately which means overall quality will go down. It’s not a good idea you can scream and whine and cry about it all you want but universal healthcare will never happen in this country. Canadians come here to get fast and good treatment. That should tell you something.
Who owns the assets purchased? The Stock holders or the government or fed?
@Killroy was here
The fed is buying them, with our money, from banks/fund managers who valued the assets at much higher than they are actually worth now.
Can’t have them losing any money, so we all absorb it.
If I lose all of my money at the casino, my power gets shutoff, car gets repossessed and house gets foreclosed, but other people take no risk when they gamble.
Stupidity runs deep in this country
I think you mean corruption too
@marcos ramos I’m smart enough to not make a stupid comment like that.
For real it’s amazing the level of stupidity!!!
Akfr0zen how we let it happen?🤔
@JoAnna S. Diamonds and Pearls we have let these officials in office year after year, some have been in there 30+ years. And richer than we’ll ever be. Happily spending our money, meanwhile, they make sure they are not seen by gaslighting fights between the left and right.
So we can bail out Wall St. But when there’s a pandemic all of a sudden the U.S. is broke.
Can I refinance my mortgage?
Pretty much, yeah.
Gordon Ramsay it’s not to bail out buy to make it easy to borrow money at no interest
@Drink NukaClassic you pay through it via inflation and the erosion of your savings
@Michelle Griffin Doesn’t matter where you are in the world, you don’t matter much.
😷😷😷😷😷😷😷😷😷😷
So why hasn’t my credit card interest rates gone to ZERO? None of this benefits 99% of normal people.
@Lord Lu Bu Its not exactly fair to call a plutocratic kleptocracy “capitalism”, if you want to see real capitalism go the to Mumbai slums, very few people become millionaires from capitalism, just case and point Cindy McCain’s daddy was white mafia running liquor during prohibition, paying for protection and paying for illegal distribution rights and making millions in the process. And because of that we have to endure his hideous granddaughter throw tantrums and rant about things she doesn’t understand.
@Jack Dawn Jack come on now…stop messing around. 16% versus 0%….that’s not even close. You are a boot licker.
Finch Harper don’t carry a balance and your interest rate is 0%….I have saved the economy
@RDTV are you Wells Fargo? BofA? I thought not.
@Jack Dawn Thank you Jack, that makes since.
Starting to sound a lot like 2008, except on steroid
1929
DaVinci yeah but dont worry the tax payers will bail out wall street again and again and again. Only poor people really lose in this country
Can I refinance my mortgage for 0% interest? 🤔
Depends how much of the cut they actually pass on.
@thomas 71 u got it, right…
I wonder what the current rate is? I’m at 3.85 fixed
Sandy Allen that’s not true I’m an mlo
3.25 % for me
No one should ever ask Bernie how he expects to pay for everything after this. Socialism is only for the rich in America.
You are correct. Now, it is a Socialism, which sounds better than Communism, but the two may be
distinct, but they are relatively the same, because they function well, only for the rich.
@Dennis Habern no, you are thinking of capitalism.
Over 5 trillion since September to save the “booming economy.”
Got to love how trolls are calling you a troll🙄
thisguy that way
They complain about Bernie’s 10 trillion dollars over 10 years plan. Meanwhile presidents come on rack up 5 trillion for nothing.
thisguy Yeah. I’ve gotten to know those trolls well over the last three or four years. Lol
Vanessa Costa yeah but cant find a nickel for education or health care
So the rich take this opportunity to get richer while we die of the virus in the streets how poetic
They’re shifting into extermination mode. Look at the Georgia Guidestones. They call us “useless eaters.” They want to cull the population. Not making this up. Research! Please! 😐
Its time for billioners to assist the poor who really need it.
It’s time for the people to rise up and take what has been stolen from them by the billionaire master class.
@D D – lol. Do you really believe that? Do you know why you’re not rich? I do
they don’t have too – they bought million dollar bunkers
thats socialism..not in America
Why? It isn’t their fault you are poor. Don’t blame them for YOUR bad choices.
“How are we gonna pay for that?” – never mentioned when the money is for the rich
And its 1.5trillion thats been given
Rich fuckheads given everything on a gold platter their whole life while the rest get crumbs. But people are waking up.
Jimmy Dore just did a great video about this.. Check out the Jimmy Dore show..
interesting the “How your going to Pay for IT?” crowd no where to be found i guess were only allowed socialism for corporations
Its like dropping money from a helicopter onto the titanic
Maybe from C-5
Or just leaving it in a burning house:/
“They got money for wars but can’t feed the poor” tupac said it best but in this case it’s bailing out corrupt wallstreet
@kozmosnotgay Either way this shake out,it already looks bad for Trump. Even Fox news is not buying what he selling. It doesn’t help that this past week half of his speech has to be walked back. The very next day for inaccurate info.
@kozmosnotgay then why are their already gearing up to lay people off?
@Cort No, they understand socialization for the losses and capitalization for the wins. They just don’t want to tear down the entire thing so we get a Holodomor, because unfortunately those rich people pay your salary, Mr. Crypto Commie.
Serenity Wintirs this wont stop that from happening, it’s to dampen the effects. A recession is a long period of high unemployment. We have one every 10 years or so and we’re due for one. Doesn’t mean it has to be as bad as 2008, (though this may be as bad) like in ‘01, we had a slight recession. But the fed is doing what they feel they have to do. Liquidate the economy. It’s a bailout and it’ll cost us in inflation, but it’s to slow down unemployment
Paul D Oh, a recession and pandemic don’t look good for the president? The fact is trump wants two things: to continue the bolstering economy he had, and to stop the spread of a disease. Problem is he can’t have both. At first he chose the economy, now he’s choosing the pandemic. This measure by the fed (which is independent of the president btw) is trying to ease the effects of the oncoming by recession.
BERNIE SANDERS was right the whole time. This government always benefits the 1% It’s time for us to demand a change now!
The fed really isn’t part of the government so…
@Fred Peace II yeah except he has a voting record to back up what he says. Name one other politician who does.
@Antonina Babiysays the crybaby who can’t even speak English. Why don’t you live in China
@Marc Duchamp no, he would give everyone healthcare so that they can get tested and not spread it to everyone else
Serenity Wintirs, you mean like that time he voted for a border wall in 2013? Or that time he got involved with a group of Republicans to vote down immigration reform in 2007?
“Welcome to the Hunger Games…may the odds forever be in your favor!”
“Don’t worry rich people and Wall Street predators, we’ll save you. Everyone else get ready to overdose on cake.”
You know this is to help people right
Rafael Luna help the rich moron.
@Rafael Luna how
Of course. It’s to help the rich and Wall Street. As always. Rafael, how can you rubes keep falling for the same thing, ever time they do it?
Rafael Luna
Keeping incompetent companies afloat doesnt help the people. It prolongs our serfdom.
People are dying, let’s give the rich some more money to ease their suffering, MAGA?
Okay batsoup eater
Small mind
Yep, MAGA. Morons Are Governing America
Most people don’t realize the U.S. “Federal” Reserve isn’t a government agency: it’s a private corporation. Seriously, Google it.
Should be higher
EXACTLY! A lot of people do not know the process of money being made or reprinted.