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BOINGGGGGGG!!! 3/20/20

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41 minutes ago, SiP said:

I would say that I'm shocked but I'm not. I would have been shocked 10 years ago but I've come to expect Zimbabwe's politics from our government. Nice touch that the coin has to be "platinum." Like this is some sort of platinum credit card that we are going to get a bunch of airline miles from or something. Why not just 3d print it out of coronavirus because it'll be just as healthy.  

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They've been ratcheting up fear all weekend, making the worst-case scenarios seem like the most-likely scenarios. It's the same playbook they rant in 2009 to demand bailouts on casino capitalism'

"What concerns me most right now is how fast we can increase the number of ventilators and Extracorporeal membrane oxygenation devices (ECMO) in the next couple of months. A clinician is going to be l

Doc would morph into a Permabull 😂

Column: Global economy hit by severest shock since 1930s - Kemp

There are no government statistics yet on the scale of the current downturn, but taking the oil industry as a proxy for economic demand, consumption appears to have fallen by around 10 million barrels per day, or 10%, within the space of a single month.


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Stopped by Dollar Tree and Kroger - Arlington, TX........NO TP or paper products and limited bread.

Kroger was restocking some items, none of their own products that I usually buy.

Dollar Tree actually had most of their usual items except TP/paper/bread

Liquor Store had all their stock.....😀   🍻 Cheers to All.......and good luck.....


Back in the mid 80's (HS/College) and I (we) were broke for the weekend, Friends and I would watch the MTV concert......

April Wine was my favorite...https://www.youtube.com/watch?v=YKr10utcD1k&list=RDYKr10utcD1k&start_radio=1&t=0&t=0

(Rush and Billy Squier were good, too.)

can still do that thanks to you tube and other sites......

As for Saturday Night.....


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Fed Already About Halfway Through Bond-Buying Announced Sunday

The Federal Reserve is already about halfway done in a single week with at least $700 billion of bond purchases to provide emergency liquidity to financial markets, delivering a clear sign that it could blow past that marker.


The U.S. central bank bought $272 billion of government debt this week and another $68 billion of mortgage-backed securities, according to New York Fed data compiled by Bloomberg Intelligence and Bloomberg News.


On March 15, the Fed announced it would buy “at least” $500 billion of Treasuries and $200 billion of mortgage-backed securities “to support the smooth functioning” of those markets, which had frozen up the week before amid investor panic over the spreading coronavirus outbreak. Fed officials this week repeatedly emphasized the “at least” part of the announcement.


The Fed has already detailed plans to buy another $75 billion of Treasuries on Monday alone, and $100 billion more mortgage debt over the course of next week.


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*KUDLOW SAYS AIMING AT A ROUGHLY $2 TRILLION RELIEF PACKAGE Nom GDP $21.7T on 12/31. Kudlow = 9.2% of Nom GDP. Add in the current $1T deficit a 13.82% Nom GDP is in sight. The chart below puts this size a deficit in perspective. Surprised that yields are struggling to fall?


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"Eurozone faces second major crisis

The eurozone faces its second crisis in a decade, but this time the starting fiscal and monetary positions are far worse than in 2010. There is once again a real risk that the eurozone might blow up, warns Les Échos. That old discussion is now back on the agenda. We already see disagreements within the eurogroup and the ECB council. Debt and deficit ratios have diverged since 2010 and are expected to diverge even further over the coming months. It is not far fetched to see a scenario where public debt could rise by 50% of GDP. Some member states have the capacity to tap the markets at low rates, while others will see their risk premiums rise. Will the ECB do whatever it takes this time? 

The capacity of member states for joint action will be tested. Not only is their fiscal space different, there is also a time inconsistency among member states when it comes to decision-making over how to battle the spread of the virus. Italy has no time to wait while Germany is slowly preparing. Member states also seem to have different mortality rates. Their responses thus reveal different political choices at any given point in time. 

How can a common eurozone response be formulated if everyone is at a different point on the curve? This can only happen if those member countries where the cases and deaths are still lower step in, and refrain from thinking that they could be better off than the others. Otherwise, we see the same prejudices emerging as ten years ago: north versus south, creditors versus debtors. It will be a feast for populists. 

The eurogroup has already experienced its first round of divisions.  The idea of a common corona-bond to help member states fight the crisis was immediately rejected by Mark Rutte. Angela Merkel gave her usual ambiguous response, welcoming it as an interesting idea while leaving it to other member states to block it in the end. The eurozone crisis is back. This time it could be fatal. "


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