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  • Originally posted by tOSUfanboi2 View Post

    Um dude, not to burst your bubble or anything, but we didn’t just slash rates to 0 and pump 1.5 trillion because banks are having a great time.

    Wait, don’t tell me, you think they actually fixed what happened in 08?
    I didn't say banks are having a great time, but this isn't the Great Depression part deux. People made runs on those banks, because a bank would go under back then and you would be out of your money. 99% of deposits are covered by FDIC insurance(There are few, and I mean few people that have enough funds to not be covered), which is guaranteed by the Federal Government.

    The whole point of lowering the interest rate is to stimulate lending. In times of economic uncertainty, banks hold on to money, because they have doubts about borrowers' ability to repay,. By making money more available to lending institutions, that lowers some of the risk, which can prop up the overall economy. We are a credit based economy, and if lending was truly cut down, a lot of major employers and the like would collapse overnight.

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    • Originally posted by Canedude08 View Post

      I didn't say banks are having a great time, but this isn't the Great Depression part deux. People made runs on those banks, because a bank would go under back then and you would be out of your money. 99% of deposits are covered by FDIC insurance(There are few, and I mean few people that have enough funds to not be covered), which is guaranteed by the Federal Government.

      The whole point of lowering the interest rate is to stimulate lending. In times of economic uncertainty, banks hold on to money, because they have doubts about borrowers' ability to repay,. By making money more available to lending institutions, that lowers some of the risk, which can prop up the overall economy. We are a credit based economy, and if lending was truly cut down, a lot of major employers and the like would collapse overnight.
      The FDIC isn’t going to mean shit if we have mass unemployment, looting, banks run out of money, etc. The vast majority of this country lives paycheck to paycheck and the corporations they work for aren’t in much better shape, if at all.

      Mark my words, if shit doesn’t change drastically in the next few weeks, the Fed is going to print the dollar into oblivion to try and keep this meme economy going, and there will be hell to pay.

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      • Originally posted by tOSUfanboi2 View Post

        The FDIC isn’t going to mean shit if we have mass unemployment, looting, banks run out of money, etc. The vast majority of this country lives paycheck to paycheck and the corporations they work for aren’t in much better shape, if at all.

        Mark my words, if shit doesn’t change drastically in the next few weeks, the Fed is going to print the dollar into oblivion to try and keep this meme economy going, and there will be hell to pay.
        Hey, it's a great time for the debt ridden corps to buy back some more stock.

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        • Originally posted by Spartan View Post

          Hey, it's a great time for the debt ridden corps to buy back some more stock.
          borrow money at 0% interest? Refi-refi-refi!

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          • Andrew Yang punching air right now

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            • Originally posted by tOSUfanboi2 View Post

              The FDIC isn’t going to mean shit if we have mass unemployment, looting, banks run out of money, etc. The vast majority of this country lives paycheck to paycheck and the corporations they work for aren’t in much better shape, if at all.

              Mark my words, if shit doesn’t change drastically in the next few weeks, the Fed is going to print the dollar into oblivion to try and keep this meme economy going, and there will be hell to pay.

              Here’s to hoping shit changes dramatically.

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              • In the WTF stock of the day Peloton is up 12% today. White peoples still need their spin classes when Soul Cycle is closed.

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                • I do wonder if this is the final arrow that breaks through Trump's armor with his base. If the Dow drops below 20k and all sports are suspended and he's been lying to his base about this for months, will it actually break the spell? Or are these MAGA idiots going to ride or die with him all the way down?

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                  • Originally posted by DPR View Post
                    I do wonder if this is the final arrow that breaks through Trump's armor with his base. If the Dow drops below 20k and all sports are suspended and he's been lying to his base about this for months, will it actually break the spell? Or are these MAGA idiots going to ride or die with him all the way down?

                    In 5 months he’ll tweet DOW OVER 20K!!!!! and MAGA people will be all aboard.

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                    • Originally posted by tOSUfanboi2 View Post

                      The FDIC isn’t going to mean shit if we have mass unemployment, looting, banks run out of money, etc. The vast majority of this country lives paycheck to paycheck and the corporations they work for aren’t in much better shape, if at all.

                      Mark my words, if shit doesn’t change drastically in the next few weeks, the Fed is going to print the dollar into oblivion to try and keep this meme economy going, and there will be hell to pay.
                      I keep telling people that this is what they need to be worrying about. Not the coronavirus. The spread of the coronavirus will suck and people will die but if the economy keeps going the way it's going it's going to be exponentially worse.

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                      • Originally posted by DPR View Post
                        I do wonder if this is the final arrow that breaks through Trump's armor with his base. If the Dow drops below 20k and all sports are suspended and he's been lying to his base about this for months, will it actually break the spell? Or are these MAGA idiots going to ride or die with him all the way down?
                        What have I told you about asking questions that you already know the answer to?

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                        • Meanwhile, at the Federal Reserve.

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                          • LMFAO. Might be cutting into my rice stockpile after all.

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                            • Geezus. Couple drops of water fell on the deck and the rats are walking the plank.

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