• Treasury secretary startles Wall Street with unusual calls to top bank CEOs
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https://www.washingtonpost.com/business/2018/12/23/treasury-secretary-makes-unusual-pre-christmas-call-top-bank-ceos-amid-market-mayhem/?noredirect=on&utm_term=.517d49070149 Treasury Secretary Steven Mnuchin startled financial analysts, bankers and economists on Sunday by issuing an unusual statement declaring that the nation’s six largest banks had ample credit to extend to American businesses and households. Mnuchin made the statement on Twitter after calling the leaders of the six banks, seeking to address an issue that had attracted little concern ahead of the treasury secretary’s tweet. Several analysts said Sunday night that his outreach to the banks and subsequent statement were likely to backfire and drive even more concern. “Panic feeds panic and this looks like panic in the administration,” said Diane Swonk, chief economist at Grant Thornton. “Suggesting you might know something that no one else is worried about creates more unease.” In Mnuchin’s statement, which was posted while he was vacationing in Mexico for the holidays, the Treasury chief said the executives told him “they have ample liquidity available for lending to consumer, business markets, and all other market operations." “It’s going to raise the question of whether Treasury and Mnuchin know something the markets don’t,” said Brian Gardner, Washington research director at Keefe, Bruyette & Woods. “Without clarifying further, it’s going to weigh on the markets.”
Dear really smart and the best people let me tell you, Tarrifs are stupid, you're stupid, please resign. Thanks, The Economy
Doing an extremely unusual thing to reassure everyone that there's nothing unusual with the economy right now. I'm sure faith in the market will be restored soon. https://files.facepunch.com/forum/upload/251241/976dac54-1862-405f-a763-01eee60034ee/image.png
Checking my investments with Betterment, my losses are now up from $56 and change to $62 and change, and it only looks like it's going to get worse. If not that they charged LUDICROUS amounts for consulting, I'd like to call them up and say "Um, yeah... Is it worth investing right now while we have a petulant titty-baby in power who masturbates to tariffs?"
https://www.marketwatch.com/story/us-stock-futures-point-to-a-christmas-eve-bounce-for-battered-equities-2018-12-24
Board up the windows please.
This is kind of equivalent to your airline pilot making an unexpected announcement that there's nothing to worry about, the only reasonable response is to worry more
https://twitter.com/realDonaldTrump/status/1077231267559755776
I thought he was going to "own the shutdown" what happened?
27D tiddlywinks, he said that to trick the Dems into shutting down the government just as he really wanted all along.
Does he mean the federal government or the FBI?
He means our central bank the Federal Reserve, he's pissy because the guy he picked to run it is increasing interest rates and making him pay more on all his loans.
he literally said "its the democrat's shut down now" a few days ago. But most sane people are not buying it at all.
let the market hit the floor, let the market hit the floor https://files.facepunch.com/forum/upload/132446/8e7a26af-a716-49f8-96ab-e876e7a4c5a3/image.png aaaaaaaaaaaaaaaaaaaa
Who could have predicted that any financial growth under a republican administration would completely unsustainable?
https://files.facepunch.com/forum/upload/106981/5e02891d-8d11-4496-b660-abc5ac1f0b0d/image.png
It isn't just any Republican, this is a guy whose bankrupted multiple businesses under his leadership, most of us know that of course. For some reason, this was just totally ignored by the conservative base. The idea that he's a good businessman is a myth, he was getting bailed out by his Father, even beyond the grave. There isn't anyone that's going to be able to swoop in and save him now.
I remember people saying Trump is doing great since their stock portfolios were doing great. Well all gains since September of last year on the big indices are gone (and since May/June last year for just S&P and NASDAQ). Are you feeling it now, Mr. Krabs?
Looks like he's crashing this economy with no survivors on his own term, rather than setting it up for failure for the next president to try and sort out.
The economy as it stands is still alright. The problem is that the administration has no idea how to do damage control. They don't know how to do anything but damage.
It's just an accelerated variation of the typical course of events with a republican administration.
When the treasury secretary is calling bank CEOs and reassuring investors, you know shit is getting right proper fucked
Let's assume for a moment that there honest to god is zero reason for concern; that the banks are fine, the economy is doing okay, and this stock dip is nothing worrying - What exactly would the logical reason be fore the Fed chairman to make those statements?
there isn't one
https://i1.wp.com/badbooksgoodtimes.com/wp-content/uploads/2017/05/everything-is-fine-nothing-is-ruined.png
Honestly I expected a crash, but this is more like a controlled contraction A good chance to get rid of growth-based economics that are literally destroying the planet with their feedback loop of always more something, which isn't the most sustainable of things, no?
I'll give you the advice for free. No.
Haha idiots good thing I didn't put any money in my 401k nothing to lose in stocks hahaha idiots
https://twitter.com/realDonaldTrump/status/1077231267559755776?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1077231267559755776&ref_url=https%3A%2F%2Ftwitter.com%2FrealDonaldTrump%2Fstatus%2F1077231267559755776 Frankly, I'm not fucking touching anything Trump's had his hands on.
Isn't the whole point of golf to not score? Or score the least amount?
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