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Stocks DROP After No More Stimulus! Economy Needs More Money and Debt Fast

NO MORE STIMULUS?

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We are seeing a dramatic change in direction here in the short term for stocks. Will there be stimulus? Trillions in just a few months not enough. Fiscal, monetary, and public works. Nothing is ever enough. More stimulus will come. The wave will flood the markets. The financial system will be saturated with liquidity. But in the meantime, algorithms are not too happy.

 

Trump’s ending of stimulus talks will mean a ‘much slower’ recovery, Fed’s Mester says

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Fed Chair Powell calls for more help from Congress, says there’s a low risk of ‘overdoing it’

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Fed chair warns of economic tragedy if America can’t control the coronavirus – CNN

Fed chair warns of economic tragedy if America can’t control the coronavirus | CNN Business

America is on the long road to economic recovery from the pandemic recession, but dark clouds remain on the horizon.

Southwest Asks Employees to Accept Pay Cuts to Avoid Furloughs – WSJ

https://www.wsj.com/articles/southwest-asks-employees-to-accept-pay-cuts-to-avoid-furloughs-11601940411

Red Rooster chef Marcus Samuelsson on coronavirus restaurant act

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Global Outlook Brightens as U.S. Consumer Imports Reach Pre-Pandemic Levels – WSJ

https://www.wsj.com/articles/u-s-trade-gap-in-august-was-largest-since-2006-11601988513

UK stocks: Valuations at level last seen in 2008

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IMF: Covid crisis not as bad as initially thought, Kristalina Georgieva says

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States Overpaid Coronavirus Unemployment Claims, and They Want the Money Back – WSJ

https://www.wsj.com/articles/states-overpaid-virus-unemployment-claims-and-they-want-the-money-back-11601890201

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Billionaire wealth reaches new high during COVID-19 pandemic…

https://news.trust.org/item/20201007000753-x4yv2

‘We Were Fortunate on Timing,’ 28-Year-Old SPAC Billionaire Says

‘We Were Fortunate on Timing’: 28-Year-Old SPAC Billionaire

(Bloomberg) — Thomas Healy was secretly arranging a deal to turn his Texas-based truck electrification startup into a publicly traded company when the coronavirus pandemic struck.

Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level (WALCL) | FRED | St. Louis Fed

Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

Venezuela Planning New 100,000-Bolivar Bills Worth Just $0.23 – Bloomberg

https://www.bloomberg.com/news/articles/2020-10-05/venezuela-planning-new-100-000-bolivar-bills-worth-just-0-23?sref=6uww027M


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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.

The stock market continues to move higher every day as the market has seen more cash, debt, margin flowing inward. Equities are certainly benefitting from low interest rates here in 2020. Mortgage rates are record low at this time as well, keeping real estate prices elevated.

#money #finance #invest

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

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penrose
penrose
October 8, 2020

If Barnum and Bailey would stage a tour starring Nancy Pelosi and Hillary Clinton as dancers, the money raised should cover a nice stimulus package. A little shuffle dancing routine by Kamala Harris and the country would be hopping again.They could even present Obama singing “And You Thought I Was Serious” for an encore.

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