Dopey Donald has broken the stock market ... Markets plummet as coronavirus cases climb ...

[Mac1958]

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

That doesn't surprise me. It's not a good idea, but it's probably good politics.
.

He said last night that today we would get the exact details of a payroll tax cut.

I do wish they would just just lock him in a room somewhere. Without a cell phone.
.

When the next recession hits there will be no tools left to combat it as we have used them all to keep the sugar high as long as possible.

YES, and that's key here.

One thing I'm watching pretty carefully is the way the NY Fed found another angle: Pouring money (half a TRILLION so far) into short term credit markets to grease the system. While the Trumpsters won't admit it (or more likely, haven't been told about it in the alternate universe because it's socialism 'n stuff), it has proven to be pretty effective.

So now that interest rates here are essentially zero, we may well see some other tricks. We'll see.
.

 

[Polishprince]

Donald Trump has been feeding the stock market bulls on bullshit and now the market is crashing as the coronavirus exposes Donald Trump's incompetence.

Dopey Donald Trump is now floating payroll tax reductions which will feed the budget deficit demons and render the Federal Government debt uncontrollable.

The only tools Dopey Donald has left are lies, bullshit, spending and debt, but they won't fix the current coronavirus effect on the economy which is likely to cause a recession as the GDP growth turns negative.

Dopey "Donald Trump will soon find lies don’t kill a virus." Honesty and competence are not in Dopey Donald's repertoire.

Column: Markets plummet as coronavirus cases climb; Trump will find lies can’t stop a virus

Markets plummet as coronavirus cases climb; Trump will find lies can’t stop a virus
By REX HUPPKE
CHICAGO TRIBUNE |
MAR 09, 2020 | 4:05 PM

President Donald Trump will soon find lies don’t kill a virus.

He can deflect and reassure Americans the novel coronavirus outbreak is “totally under control” until his tweeting fingers are raw, but the virus won’t care. It will spread. Viruses are stubborn like that, best contained by honesty and competence, not bluster. ...

Since when is the President responsible for viruses that emerge during his reign?

Although, in actuality, it was a dispute between the Russian Federation and Saudi kingdom re: the price of oil that caused yesterday's dip in the market.

 

[Harpy Eagle]

Hopefully the market will realize it has over-reacted to this thing soon. It's possible that we could literally talk ourselves into a recession, and we're certainly trying. What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.

Donald Trump's resignation or imprisonment would be good news.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

 

[OldLady]

Hopefully the market will realize it has over-reacted to this thing soon. It's possible that we could literally talk ourselves into a recession, and we're certainly trying. What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.

Donald Trump's resignation or imprisonment would be good news.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

I ask again: What is a payroll tax cut? Do I have more $$ in my paycheck or are employers relieved of some of their tax obligations?

 

[OldLady]

Hopefully the market will realize it has over-reacted to this thing soon. It's possible that we could literally talk ourselves into a recession, and we're certainly trying. What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.

Donald Trump's resignation or imprisonment would be good news.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.

 

[mudwhistle]

Hopefully the market will realize it has over-reacted to this thing soon.

It's possible that we could literally talk ourselves into a recession, and we're certainly trying.

What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.
.

Notice the timing of this.
Democraps need a recession.....so they use the media to create one.....just like they did in 2008.

 

[Mac1958]

Hopefully the market will realize it has over-reacted to this thing soon.
It's possible that we could literally talk ourselves into a recession, and we're certainly trying.
What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.

Notice the timing of this. Democraps need a recession.....so they use the media to create one.....just like they did in 2008.

That's partisan politics. Party over country.
.

 

[Harpy Eagle]

Donald Trump's resignation or imprisonment would be good news.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

I ask again: What is a payroll tax cut? Do I have more $$ in my paycheck or are employers relieved of some of their tax obligations?

The last time it was done it was only for the employee. Your contributions to SS and Medicare and the like are cut by a percent and you get a bit more money in your check. Is it enough money to make a difference in your life? The last cut, in 2011 I think, was 2 percentage points. I do not know how much money you make, but if you make say $100,000 then your check would be about 80 dollars more each 2 weeks.

 

[Harpy Eagle]

Donald Trump's resignation or imprisonment would be good news.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.

If you are going without a pay check then the payroll tax cut would not help you a bit

 

[Denizen]

Hopefully the market will realize it has over-reacted to this thing soon. It's possible that we could literally talk ourselves into a recession, and we're certainly trying. What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.

Donald Trump's resignation or imprisonment would be good news.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

The road to hell is lined with Donald Trump's tax cuts.

 

[mudwhistle]

Hopefully the market will realize it has over-reacted to this thing soon.
It's possible that we could literally talk ourselves into a recession, and we're certainly trying.
What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.

Notice the timing of this. Democraps need a recession.....so they use the media to create one.....just like they did in 2008.

That's partisan politics. Party over country.
.

The primary reason I don't support Democrats is because they've made it clear that political power overrules their sense of decency and their pride in this nation. They are all for ruining lives and everything that goes with it if it means taking back the political power they lost due to their incompetence.

 

[blackhawk]

 

[Denizen]

Donald Trump has been feeding the stock market bulls on bullshit and now the market is crashing as the coronavirus exposes Donald Trump's incompetence.

Dopey Donald Trump is now floating payroll tax reductions which will feed the budget deficit demons and render the Federal Government debt uncontrollable.

The only tools Dopey Donald has left are lies, bullshit, spending and debt, but they won't fix the current coronavirus effect on the economy which is likely to cause a recession as the GDP growth turns negative.

Dopey "Donald Trump will soon find lies don’t kill a virus." Honesty and competence are not in Dopey Donald's repertoire.

Column: Markets plummet as coronavirus cases climb; Trump will find lies can’t stop a virus

Markets plummet as coronavirus cases climb; Trump will find lies can’t stop a virus
By REX HUPPKE
CHICAGO TRIBUNE |
MAR 09, 2020 | 4:05 PM

President Donald Trump will soon find lies don’t kill a virus.

He can deflect and reassure Americans the novel coronavirus outbreak is “totally under control” until his tweeting fingers are raw, but the virus won’t care. It will spread. Viruses are stubborn like that, best contained by honesty and competence, not bluster. ...

Since when is the President responsible for viruses that emerge during his reign?

Although, in actuality, it was a dispute between the Russian Federation and Saudi kingdom re: the price of oil that caused yesterday's dip in the market.

Dopey Donald told the virus begone.

 

[OldLady]

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.

If you are going without a pay check then the payroll tax cut would not help you a bit

true dat
and if I had to get all mixed up with DHHS to get paid for downtime, fuggetaboutit. I would hope that would be money reimbursed to employers so they could give those of us without sick time a check.

 

[EvilCat Breath]

I knew he’d get blamed for the virus.

That was the point of creating the hoax.

 

[Harpy Eagle]

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.

If you are going without a pay check then the payroll tax cut would not help you a bit

true dat
and if I had to get all mixed up with DHHS to get paid for downtime, fuggetaboutit. I would hope that would be money reimbursed to employers so they could give those of us without sick time a check.

that is possible, they could cut theirs as well. We do not know the details yet. Just remember, whatever is cut just adds to the debt and in this case makes both SS and Medicare even less solvent.

 

[Harpy Eagle]

I knew he’d get blamed for the virus.

That was the point of creating the hoax.

It is impressive how the Dems got China and Iran and Italy and South Korea to go along with the hoax and pretend all those people are sick and dying.

 

[Hutch Starskey]

I knew he’d get blamed for the virus.

He gets blamed for his own incompetence.
Just as you will for not recognizing as much.

 

[OldLady]

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.

If you are going without a pay check then the payroll tax cut would not help you a bit

true dat
and if I had to get all mixed up with DHHS to get paid for downtime, fuggetaboutit. I would hope that would be money reimbursed to employers so they could give those of us without sick time a check.

that is possible, they could cut theirs as well. We do not know the details yet. Just remember, whatever is cut just adds to the debt and in this case makes both SS and Medicare even less solvent.

I do understand, but I have to focus on daily survival first.
Is there a better way to handle this than giving folks a hand if they need to stay home?

 

[imawhosure]

Hopefully the market will realize it has over-reacted to this thing soon.

It's possible that we could literally talk ourselves into a recession, and we're certainly trying.

What we probably need most is some positive news, and maybe that will wake folks up and calm them down. But it does have to happen soon.
.

Notice the timing of this.
Democraps need a recession.....so they use the media to create one.....just like they did in 2008.

Well, since neither one of those things are likely to happen, we'll have to look elsewhere, assuming we're hoping for the best.
.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

I ask again: What is a payroll tax cut? Do I have more $$ in my paycheck or are employers relieved of some of their tax obligations?

The last time it was done it was only for the employee. Your contributions to SS and Medicare and the like are cut by a percent and you get a bit more money in your check. Is it enough money to make a difference in your life? The last cut, in 2011 I think, was 2 percentage points. I do not know how much money you make, but if you make say $100,000 then your check would be about 80 dollars more each 2 weeks.

Like a promise of more tax cuts

Golfing Gator: What is a payroll tax cut? Is that a benefit to employers or workers?

I was relieved to read this a.m. in the local paper that he is working on relief for hourly workers who need to stay home due to the virus/any restrictions on attendance.

While that certainly sounds noble, but that would be like using a sledge hammer to put up a thumbtack

It is being done to stimulate the economy to keep the expansion going past November. The problem is that we will have a recession sooner rather than later, they are a built in part of our economic system and can only be delayed for so long. What we are doing now is the equivalent of drinking Red Bulls and taking No Doze to stave off sleep...it works for a while but when the crash comes it is even worse.

He can use a sledge hammer as far as I'm concerned, because I am one of the people who might well be affected and I sure as hell couldn't afford to stay home a month without a paycheck. I'm in adult education and we normally go by the school district's cancellation decisions. Schools are the first thing communities are talking about closing in affected areas, and even though there are no cases yet in Maine, our director is already getting nervous.

If you are going without a pay check then the payroll tax cut would not help you a bit

true dat
and if I had to get all mixed up with DHHS to get paid for downtime, fuggetaboutit. I would hope that would be money reimbursed to employers so they could give those of us without sick time a check.

Lets talk economics!

Here is the deal-------------> follow me here------------->remember when Obama made all those shovel ready jobs supposedly? Why did he do it? BECAUSE we NEEDED jobs! Forget about if his effort worked or not, but his approach was logical.

Trump does not need to do that.

Why?

Because today, we have an OVER abundance of jobs! He needs to keep Americans with enough money in their pockets, so when this threat lifts, and it will; Americans have enough cash on hand to prime the economic pump themselves.

CONSIDER----------->they are highly suggesting that this virus will lose a lot of steam in the late spring and summer months. Even with a partial slowdown, people are going to have jobs because people are going to be off because of illness, so the employment cuts in everything but the service sector will be minimal. Yes economic activity will falter, but so will production, meaning an almost neutral stance economically.

So now, the threat passes, what happens if the citizens have no money? Yeah, not good! If demand builds, but you have no money to satisfy demand, then you really have a problem, don't you!

So while I agree with Gator on how much money you are going to get from any payroll cut, the idea is to not allow demand to rise, with no expendable cash to satisfy the demand at least somewhat, reigniting the economy.

Again---->we do NOT need an influx of more jobs! We need the ability to fill our demands when the crisis passes, and to do that, we need as much cash on hand as possible as consumers.

P.S. Anyone have a mortgage? You owe money in student loans, etc? REFINANCE it quickly!

This is the same as a TAX CUT for you! Don't be dumb! Get more money in your pocket for now, and the future. Take advantage of a bad situation, and make something good happen for yourself.

And if Mac reads this P.S. I am sure he will agree!