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(CNN)   While Republicans bemoan Minimum Wage Wally getting a living wage for the first time in his life while on unemployment. The Fed now owns Walmart's debt. Privatize the profits, and socialize the losses, eh 'Murica?   (cnn.com) divider line
    More: Obvious, Federal Reserve System, Monetary policy, Mark Zuckerberg, Bankruptcy, Chesapeake Energy, protest of Facebook, purchases of individual corporate bonds, Goldman Sachs  
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1460 clicks; posted to Business » on 29 Jun 2020 at 2:20 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



22 Comments     (+0 »)
 
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2020-06-29 12:21:19 PM  
They said they were gonna
Why do you think "No stonk buybacks" was a condition on the bailout?
 
2020-06-29 12:34:48 PM  
Talkin' Bout a Revolution
Youtube 721JQZw6Spg
 
2020-06-29 12:39:05 PM  
I want someone to tell Donnie that the parent company of CNN got $17,000,000...

He'll lose his shiat.
 
2020-06-29 1:20:04 PM  
Socialism for the rich.
Capitalism for the poor.
 
2020-06-29 1:27:51 PM  
The Free Market in action.

I'll bet a lot of people with mortgage problems would enjoy some assistance.
 
2020-06-29 2:30:49 PM  
Don't worry subby.  The unemployment trough ends in 30 days.  No worries.
 
2020-06-29 2:31:00 PM  
And China owns US debt. That means they control us. So doesn't that mean the Fed controls WalMart?

/Quantitative Easing expansion meant this kind of thing
 
2020-06-29 2:34:45 PM  
Remember when the free market picked the winners?

Yeah...I don't either.
 
2020-06-29 2:37:09 PM  
the crises is expected to be severe but short

Short!? Based on what, pray tell?
 
2020-06-29 3:20:32 PM  
Somehow, this is Lucky Ducky's fault.
 
2020-06-29 3:53:10 PM  

bdub77: Remember when the free market picked the winners?

Yeah...I don't either.


That's the thing. The "free market" *did* pick the winners. Buy bribing the people that pick the winners. And also bribing the people that pick the people that pick the winners. And also bribing the people that make the rules, to ensure that the winners are always the same people.

And that is the Republican definition of "free market" - "It is my *right* to take anything that you can't stop me from taking".

An unregulated free market leads to exactly what we have. And yet, it's NOT ENOUGH for Republicans. Corporations and rich people are already have no rules that apply to them. And they want MORE. It's sick.
 
2020-06-29 4:07:59 PM  

edmo: The Free Market in action.

I'll bet a lot of people with mortgage problems would enjoy some assistance.


The Fed does support homeowners through purchases of mortgage backed securities. If people stop paying their mortgages it's the Fed that loses out.

Same situation if these companies default and fail to pay bond holders i.e the Fed.

The Fed is supporting both systems.
 
2020-06-29 4:54:05 PM  

Sajuuk Khar: edmo: The Free Market in action.

I'll bet a lot of people with mortgage problems would enjoy some assistance.

The Fed does support homeowners through purchases of mortgage backed securities. If people stop paying their mortgages it's the Fed that loses out.

Same situation if these companies default and fail to pay bond holders i.e the Fed.

The Fed is supporting both systems.


the Fed's propping up of the stock and bond markets is also saving trillions of retirement savings from ruin.
 
2020-06-29 5:05:56 PM  

vygramul: And China owns US debt. That means they control us. So doesn't that mean the Fed controls WalMart?

/Quantitative Easing expansion meant this kind of thing


At the very least it means China now controls Walmart. Soon the stores will be filled with Chinese-made products.
 
2020-06-29 5:08:13 PM  
Capitalism is a Christianity replacement.
So much that it even replicates the Church organization of Medieval Christianity
:
The economists (clergy)continually advocate(preach)free market economics(the faith) andinterpret the economy (holy book) on behalf of the society (the believers). The critical economists (heretic priests) are outcast by the establishment, not given airtime, ridiculed or censored.
Whatever happens in the economy is interpreted and 'somehow' explained by the economists(clergy), and in those explanations, anything good that happens is due to free market economics(the faith), and anything bad that happens is due to straying away from free market economics (having any other faith).
According to the sermon, all that the hardworking (faithful) need to do is to work hard(have faith)and keep staying the course. Because 'the invisible hand' will fix all problems, crises, issues without them needing to do anything in particular. All they need to do is to have faith, and putting their trust in the religion by trusting the clergy of the church. Whose only solution to every single problem is more free market(more faith), and if a solution does not work at all, its because the society was not faithful to the free market enough.
 
2020-06-29 5:21:07 PM  

dumbobruni: Sajuuk Khar: edmo: The Free Market in action.

I'll bet a lot of people with mortgage problems would enjoy some assistance.

The Fed does support homeowners through purchases of mortgage backed securities. If people stop paying their mortgages it's the Fed that loses out.

Same situation if these companies default and fail to pay bond holders i.e the Fed.

The Fed is supporting both systems.

the Fed's propping up of the stock and bond markets is also saving trillions of retirement savings from ruin.


For how long?
 
2020-06-29 6:08:49 PM  

dumbobruni: Sajuuk Khar: edmo: The Free Market in action.

I'll bet a lot of people with mortgage problems would enjoy some assistance.

The Fed does support homeowners through purchases of mortgage backed securities. If people stop paying their mortgages it's the Fed that loses out.

Same situation if these companies default and fail to pay bond holders i.e the Fed.

The Fed is supporting both systems.

the Fed's propping up of the stock and bond markets is also saving trillions of retirement savings from ruin.


Ain't it great that we've made people's retirement dependent on a gambling system?
 
2020-06-29 7:13:29 PM  
Dear everyone who didn't actually read the article,

Buying bonds isn't a bad idea, as long as the entity issuing bond doesn't disappear. In fact, buying bonds and debt could potentially provide income for whom ever holds the bond. That's how the United States could invest in companies AND make a profit whilst doing it.

What's more is: if you do it correctly, you could offset any lost revenue vis-a-vis the reduction of taxes collected.

/ you can find out more about my financial wizard mumbo-jumbo by buying my book. 6 easy payments of $19.99.
 
2020-06-29 8:17:02 PM  
Yes they said they were buying corporate bonds.
How is this socializing the loses?
 
2020-06-29 8:20:18 PM  
Christ, you people are dumb. If I buy your mortgage that means you still owe the money. And if you don't pay me I get to take your house.

Would you prefer we just cut them a big fat check?
 
2020-06-30 4:42:22 AM  

Lance Robdon: vygramul: And China owns US debt. That means they control us. So doesn't that mean the Fed controls WalMart?

/Quantitative Easing expansion meant this kind of thing

At the very least it means China now controls Walmart. Soon the stores will be filled with Chinese-made products.


Well I won't shop at Walmart ever again if that happens.
 
2020-06-30 12:58:03 PM  
next up, welcome back to serfdom.

you all belong to the land now, and to pay the debt we just sold it, and so all of you, to china.
 
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