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b'Fed finally did what I\\u2019ve been saying they would for years: cut rates to zero with the biggest point cut in history. Powell afraid to call it QE.
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\\nThere are no atheists in foxholes; there are no free-market capitalists in a recession. If we fought WWII with bailouts, like the way we\\u2019re fighting coronavirus, we\\u2019d be speaking German now.
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\\nWaiting in line for food and toilet paper does not mean business is booming. Neither is having full hospitals.
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\\nMore records broken today as the Dow lost almost 3,000 points - the biggest single day point drop in history! Percentage-wise, it was the second biggest drop percentage in history, next to the stock market crash of 1987. For all the years of the Great Depression and WWII, the economy never saw a drop like this.
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\\nThe stock market has never lost this much value this quickly. The whole rest of the world is now tapping into their savings, but we have nothing left to rely on other than a printing press.
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\\nGold takes a hit as investors cover their losses, but still down only 2% on the year compared to the Dow down 32%. Gold is liquid, easy to sell, yet its barely down, even though so many people are desperate enough to sell it.
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\\nTrump \\u201cpleasantly surprised\\u201d Powell followed his orders after having his job threatened.
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\\nOh, and banks no longer need reserves.
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