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Trump signs order authorizing Pentagon to call up former troops to help with coronavirus fight
 

President Trump on Friday signed an executive order authorizing the Pentagon to bring back former troops, including members of the National Guard and Ready Reserve eserve members, to active duty as part of the ongoing response to the coronavirus crisis.

"Today the President signed an Executive Order authorizing Secretary Esper to order units and individual members in the National Guard and Reserves and certain Individual Ready Reserve members, to active duty to augment forces for the effective response to the coronavirus outbreak," Pentagon spokesman Jonathan Hoffman said in a statement.

 

I think he’s getting drunk with this power thing

 

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The Federal Reserve’s balance sheet topped $5 trillion for the first time amid the U.S. central bank’s aggressive efforts to cushion debt markets against the coronavirus outbreak through large-scale bond-buying programs.

Total assets held by the Fed rose by $586 billion to $5.25 trillion in the week through March 25, according to data published Thursday on its website. Borrowing by banks from the Fed’s discount window jumped to $50.8 billion.

The central bank has rolled out several liquidity programs over the last few weeks to keep credit flowing in financial markets and the economy amid investor panic over the global spread of the virus. The scale of its current bond-buying efforts already dwarfs that of the purchase programs it undertook in the wake of the last financial crisis.
https://finance.yahoo.com/news/federal-balance-sheet-tops-5-210123506.html

 

this is before the $4 Trillion from the stimulus bill

think about that 

when Trump signs this bill, the fed will be over $9 TRILLION in the red.
 

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The congressman says he objects to the legalization because it would explode the national debt.

“This is $2 trillion,” Massie said. “Divide $2 trillion by 350 million people — it’s almost $6,000 for every man, woman and child. I’m talking about spending. This won’t go to the men, women and children

that’s a good thing, right? Wanting accountability and to get rid of the pork in the bill...right??

...

nope;
President Donald Trump went off on a Republican congressman for threatening to block the relief bill soon to come up for a vote on the House floor.

In a pair of scathing Tweets, the president laced into Rep. Thomas Massie (R-KY) for his opposition to the package.

“Looks like a third rate Grandstander named @RepThomasMassie, a Congressman from, unfortunately, a truly GREAT State, Kentucky, wants to vote against the new Save Our Workers Bill in Congress,” Trump wrote. “He just wants the publicity. He can’t stop it, only delay, which is both dangerous …& costly. Workers & small businesses need money now in order to survive. Virus wasn’t their fault. It is ‘HELL’ dealing with the Dems, had to give up some stupid things in order to get the ‘big picture’ done. 90% GREAT! WIN BACK HOUSE, but throw Massie out of Republican Party!”

 

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The economic debate of the day centers on whether the cure of an economic shutdown is worse than the disease of the virus.  Similarly, we need to ask if the cure of the Federal Reserve getting so deeply into corporate bonds, asset-backed securities, commercial paper, and exchange-traded funds is worse than the disease seizing financial markets. It may be.

In just these past few weeks, the Fed has cut rates by 150 basis points to near zero and run through its entire 2008 crisis handbook. That wasn’t enough to calm markets, though — so the central bank also announced $1 trillion a day in repurchase agreements and unlimited quantitative easing, which includes a hard-to-understand $625 billion of bond buying a week going forward. At this rate, the Fed will own two-thirds of the Treasury market in a year.

https://finance.yahoo.com/news/feds-cure-risks-being-worse-110052807.html

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1 hour ago, Dric902 said:

The economic debate of the day centers on whether the cure of an economic shutdown is worse than the disease of the virus.  Similarly, we need to ask if the cure of the Federal Reserve getting so deeply into corporate bonds, asset-backed securities, commercial paper, and exchange-traded funds is worse than the disease seizing financial markets. It may be.

In just these past few weeks, the Fed has cut rates by 150 basis points to near zero and run through its entire 2008 crisis handbook. That wasn’t enough to calm markets, though — so the central bank also announced $1 trillion a day in repurchase agreements and unlimited quantitative easing, which includes a hard-to-understand $625 billion of bond buying a week going forward. At this rate, the Fed will own two-thirds of the Treasury market in a year.

https://finance.yahoo.com/news/feds-cure-risks-being-worse-110052807.html

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Some call this a strong nation protecting their economy.  Others of us call it suicide.

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14 hours ago, Dric902 said:

Pres Trump has directed @SecAzar to use the authority of the Defense Production Act to order General Motors "to accept, perform and prioritize Federal contracts for ventilators." In written statement, @POTUS says the Coronavirus situation "too urgent" for negotiations with GM.
 

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We had better learn how to eat then when we are up to our collective asses in them.

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5 hours ago, pipedreams said:

I think the only reason he invoked the defense act on GM was they kept playing games.  First they said they could product lots of product and then they changed their mind and said it would be the end of April.  Then the started in on the contract price they wanted to negotiate.  This is the same GM that the Federal Government bailed out just a few years ago, they must of forgot.

I understand why.  I just am criticizing the motivation on the part of GM.

WWII they were only too happy to help. Today they are holding the public up for ransom.

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5 hours ago, pipedreams said:

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A purely emotional political party needs two things to survive.  

One is willing martyrs.

The second is a crisis.

        Oddly enough, there is no requirement for this crisis to be relevant nor important, just that it is

        something to beat their chests over.  And.  It will be short lived, since tomorrow another shiny object will

        pop up and grab their attention.

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