Opinion, Jokes and Stories from KC
Fed slashes rates to near-zero as part of extended emergency coronavirus responseThe Federal Reserve dropped interest rates to near zero on Sunday as part of an extended and ongoing emergency response to the economic downturn caused by the novel coronavirus outbreak, The New York Times reports.
The Federal Reserve dropped interest rates to near zero on Sunday as part of an extended and ongoing emergency response to the economic downturn caused by the novel coronavirus outbreak, The New York Times reports.
0% or 100% interest doesn't matter if you don't have a paycheck to even make a minimum payment. Credit card companies will need to ordered to suspend monthly due dates, no minimum payments due, and freeze all collection actions for 90 days.
WHICH CAME FIRST, REPO OR CORONA?In September 2019, the overnight repo market broke.In September, a disruption in the market in which banks and others lend and borrow for very short periods of time, the repo market, led to a sharp spike in short-term interest rates and prompted the Federal Reserve to inject tens of billions of dollars of reserves into the markets. They were unable to stem the bleeding, and continued pumping more and more money to prevent the inevitable.The coronavirus is thought to have emerged in Wuhan China as early as November 2019.The coronavirus global pandemic is being used as political cover for a financial reset as the banking system was on the verge of a domino collapse. Some of Europe's largest banks are insolvent and Wall Street's big players own our political leadership. Wall Street is going to get another bailout and be rewarded with loosened regulation.Rule Number 1 = Politicians will always attempt to avoid taking responsibility for problems occurring on their watch. By inflating this virus into a global pandemic, who will the public blame? An inanimate microscopic virus? The most flak the politicians will receive is that they were too slow to respond to the outbreak.The public is being played, because most are ignorant and obey the propaganda television talking heads. They complain about "fake news" but blindly obey their talking-head masters regardless.
Money is cheap for banks and their favorite corporations. Sure they get 0%. The rest of us? Forget it. Credit card, auto loans, student debt, home equity and mortgages are not going to 0%. Not even close. Trump thinks the stock market looks very good to him. He has forgotten the forgotten man that works for his paycheck. Or used to work until getting laid off over the next few weeks.
ahhh I dont use credit cards and have 800 credit score, I pay in cash, if you dont have cash you shouldnt be buying, you cant afford it which is why you put your purchase on a credit card - buying on credit is for MORONS! Us rich people have credit cards, but we prefer to pay in cash, Show up to work on Monday ANTS!
^^^ Ever had a mortgage? Then you have been in debt and bought something you didn't have cash for.
Well Mr Cash, with rates at 0%, you won't be earning any interest income. Congratulations!!!
This had better work, the Fed went "All In" with this one, and now in reality has absolutely no tools to boost the Economy with.
@2:21AM-Us rich people certainly don't waste our time on this blog. We never say "us rich people" it's gauche and grammatically incorrect. We also don't post at 2:21AM either. Get back to cleaning that Slurpee machine Cletus. Fucking rube.
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