Holy Shit! - St. Louis Fed Pres: "This is a planned, organized partial shutdown of the U.S. economy in the 2nd quarter."

U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says

Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.

Bullard called for a powerful fiscal response to replace the $2.5 trillion in lost income that quarter to ensure a strong eventual U.S. recovery, adding the Fed would be poised to do more to ensure markets function during a period of high volatility.

“Everything is on the table” for the Fed as far as additional lending programs, Bullard said in a telephone interview Sunday from St. Louis. “There is more that we can do if necessary” with existing emergency authority. “There is probably much more in the months ahead depending on where Congress wants to go.”

cont'd:

[link to www.bloomberg.com (secure)]

Total mystery quote.

I don’t see it in the article?

St. Louis Fed Chair Warns U.S. Unemployment Rate Could Hit 30 Percent Due to Coronavirus

Bullard thinks the government needs to prioritize helping American workers and businesses across all industries, saying, "It is totally stupid to lose a major industry because of a virus. Why would you want to do that?" The House and Senate, however, remain at an impasse in negotiations on the fine details in an economic stimulus package that looks to be worth more than $2 trillion. The White House wanted to have a bill ready for a vote by Monday.

The bill will need to address the $2.5 trillion loss in income in this second quarter as a result of a 50 percent decline in gross domestic product. Bullard forecasts that with an aggressive government aid response, the third quarter could serve as a "transitional quarter" with the fourth quarter and first quarter of next year becoming "quite robust," or "boom quarters," as Americans make up for the money they haven't spent during this down period.

[link to www.complex.com (secure)]

Oops! I see it @ Bloomberg.

He’s referring to the interest rate cut.

Or is he?

If so, it’s very poorly worded.

[link to www.bloomberg.com (secure)]

Massive Aid

Bullard’s grave assessment of the world’s largest economy underscores the critical need for Congress and the White House to quickly find agreement on a massive aid program. The Fed last week restarted financial crisis-era programs to help the commercial paper and money markets, after cutting interest rates to near zero and pledging to boost its holdings of Treasuries by at least $500 billion and of mortgage securities by at least $200 billion.


“This is a planned, organized partial shutdown of the U.S. economy in the second quarter,” Bullard said. “The overall goal is to keep everyone, households and businesses, whole” with government support. “It is a huge shock and we are trying to cope with it and keep it under control.”

The U.S. central bank bought $272 billion of government debt last week, of the more than $500 billion authorized, which Bullard emphasized should not be seen as a limit.

More if Needed

“This is unlimited and we can go much higher if necessary,” he said. “We are trying to provide as much support as we can to that market.”

Commercial paper funding should provide support for corporations trying to roll over short term debt, Bullard said, and the Fed could look at buying other corporate debt.

Last Edited by G3 on 03/22/2020 11:24 PM

EXACTLY what the Demonrats want


High unemployment = universal basic income (more people dependent on the government to live)

As the unemployment numbers go up, more people no longer have health insurance.

High % of uninsured population = government single payer health care


It's a Demonrats/NWO dream come true, exactly what they've been campaigning on for the last 20 years.

Yet Trump is President. What does that tell you?

The cat is out of the bag!

oh did you just learn the term "nwo" and thinks it's just another name for democrats? get a brian

It's right there at the top of the page in big blue type.

Try here as well:

Really?

:georgesoros1:

It tells me that there are no shutdowns at the Federal level, and that President Trump is letting each state make the call for themselves (which is the right thing to do).

It also tells me that Donald Trump is probably being fed a lot of bullshit by so called experts that are part of pushing the NWO agenda.

Last Edited by Callen on 03/23/2020 12:00 AM

No, shit-for-brains, Demonrats are in this country. NWO is spread throughout the world. Both share the same ideology = one world government.

You might want to brush up on your reading comprehension and grammar skills a little...you write like a rube.

Last Edited by Callen on 03/23/2020 12:04 AM

He is anemic. That is most definitely a sign of mental instability. He appears to me to be schizophrenic.

But I agree. It is a test. A planned and organized test, relieving the bubble. It is a transfer of wealth and I am pissed I have not made money off this -- it was so obvious from the beginning of February what was about to happen. My goodness.

Last Edited by deepend2 on 03/23/2020 12:23 AM

Yes. In simple English to stop the spread they are systematically closing business, and providing funding, so that when the contagion is contained, HOPEFULLY CONTAINED, the economy won't be totally destroyed and they are hoping for a fast restart.

Clar?

An economic depression would kill more than any virus possibly could. Looks like they are out to depopulate the planet which means us.

This is worldly. New World Order.

Sorros? He's the face that is put out there for you to blame! The pinata if you like

Ask yourself, who's pulling his strings? He is allowed to act as he does for a reason. He is certainly not the brains behind it all

The Federal Reserve is a fucking vampire that needs a stake driven through it heart.



Y'all read that shit? The fed is going to print paper and buy up corporate debt with it, that they themselves admit is part of a scheme.


I told you fuckers Trump would bleed the middle class.

That fucker has got to be on his fourth or fifth Palestinian heart and 3rd liver

401k robbery.
see how they let it crash and the only thing not protected was 401ks?
all the billionaires got out in time.if they didnt they golden parachute down.
somebody always loses,who lost?
who wins?
money dont dissapear,its robbed out of peoples pockets most of the time.
if gov buys up the stock then thats inflation.
does the government then claim state owned?
i say let it collapse.let the chips fall where they may.its the most sound recovery.then seize the assets of those who tried to cut and run.
a win win!
you cant charge congress with insider trading but you can seize their ill gotten gains!

Fuck the poor

The elite are the gods.

Are you kidding? Best caste scenario, unemployment will reach 55-60%. Do your economic homework.