📉 Stocks tumble after Trump rejects stimulus plan

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Global markets struggle to make sense of Trump’s stimulus tweet storm​

Hong Kong (CNN Business)Global stock markets were struggling Wednesday to digest a tweet storm from President Donald Trump over what the US government should do next to prop up ailing businesses and the economy.

Just hours after Trump’s decision to halt negotiations on a major economic stimulus package caused US stocks to plummet, he called on US lawmakers to approve smaller measures that would provide relief to airlines and small businesses.

“The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business,” Trump tweeted late on Tuesday. “Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!”

He later added that he was “ready to sign” a “Stand Alone Bill for Stimulus Checks ($1,200).”
 
The government has no business “stimulating” the economy to begin with. Let businesses open back up and quit hurting them with lockdowns.
 
RhodesianSon said:
Let businesses open back up and quit hurting them with lockdowns.
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Many of the hurting businesses are open or are allowed to be open, but are nolonger seeing the traffic necessary to make a profit.
 
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Due in large part to reduced capacity due to new regulation.

If people choose not to go and businesses can’t adapt then they should be allowed to fail. We can’t bail out failing businesses forever. One of the biggest travesty’s of the last 20 years was bailing out banks and the auto industry. The government has no business doing these things.
 
RhodesianSon said:
Due in large part to reduced capacity due to new regulation.
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That would suggest that there are more people willing to engage such businesses but are unable to get in (such as an open table not being available at a resteraunt or a seat not being available in a movie theater). From what I’ve seen, many of these businesses to not even achieve reduced capacity.

Package (alcohol) stores have been doing well though. Across the nation alcohol sales are up.

I’m sure that offices issuing work-from-home orders also have an impact. There tend to be resteraunts and services that locate near offices and are sustained by the business their workers bring. With some offices having return-to-work dates past the middle of 2021 my expectation is such businesses will continue to experience reduced demand for a while.
 
He was just forcing them back to the table. Or so he’ll say… 😏
 
WingedHussar said:
The Democrats were throwing in handouts to illegals and trying to keep them from being deported. Holding needed aid for Americans hostage under those conditions is evil and President Trump was right to reject it.

People and nation first, not personal greed and never foreigners!
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I see a nationalist flavor to a few posts flying around here recently.
 
Trump realizes he made a boo boo.

" President Trump pulled the plug on negotiations for another coronavirus relief bill Tuesday, then he tried to plug it back in, one pin at a time, after vulnerable Republicans decried his actions as self-sabotage that could take them down with him.

Mr. Trump, embracing a long pattern of following an impulsive gesture with a quick walk back, took to Twitter later in the day to declare that he was open to measures that would send a $1,200 check to taxpayers — and pump $25 billion into the airlines and other industries with big workforces in battleground states.

But Democrats and Republicans have expressed reluctance on one-off measures, even though there were signs of renewed movement on some aspects of the package early Wednesday."

 
WingedHussar said:
The Democrats could have proposed a clean bill instead of sticking their poison pills into it.
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Things like the ones they added are intended to stop anything from happening. The Dems want to make people suffer so they will think the only relief is to vote for Biden/Harris.
 
Trump is going to issue relief checks for some I understand.

https://www.newsmax.com/newsmax-tv/...ackage-relief-democrats/2020/10/07/id/990791/
“We in the Senate had put a bill on the floor a couple of weeks ago, and it would have been a $650 billion bill. It would have repositioned $350 billion that are not spent yet,” the senator told “National Report” Wednesday morning. “That is money from the CARES Act, and we had that money positioned to go into [personal protective equipment]. There was a $300 per check plus up for your unemployment insurance, there was money for testing, for vaccines, for schools getting their doors open. What did the Democrats do? Every single one of them voted no. We were not able to get closure, so therefore we were not able to get on the bill.”
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$650 billion is a lot, need it be a trillion? Compromises have occurred before leaving pork in the bills. I guess, not this time.
 
Everything is wrong with it. The Holy Fayher has spoken and written about the evils of nationalism.
 
The Church never made a binding statement that nazism was evil. That’s not how it works.

The Pope and Bishops have spoken on it
 
But the church has made a binding statement about communism. While I’ll concede that excessive nationalism, particularly a strand that would lead to an expansive militaristic endeavor and cause unnecessary war is evil, I do not concede that a nation putting its own people first in its policies is evil, nor is pride in ones people or history or culture.
 
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