DawgTalkers.net Forums DawgTalk Palus Politicus Coronavirus continued

The bully-n-chief has made ring kissers out of all of them.

And the Market is SOARING!!!

the wrong way.

all the wrong ways.

The thing is, this is exactly the scenario where cutting rates should be used. Cutting interest rates are to be used to stimulate the economy during emergencies and during economic downturns.

What we've seen since Trump has been in power is cutting rates to artificially inflate an already strong economy.

Tax cuts and cutting the prime rate are safeguards to be used under certain circumstances. The problem is that when you use them up in a strong economy you won't have them at your disposal when you really need them.

i agree but thats why im fearful of this.

we have a so called strong economy...that we've been cutting rates even before this crisis. we're losing a lot of wiggle room over something we dont even know will work.

if rates were higher than they were and then we cut it over the coronavirus, ok cool.

but man trump is up here talking about going to negative interest rates. you dont go negative if this economy is as great as he's saying. there's a lot of negative rates in european markets cause their economies are borderline wrecks right now.

oh and Pit, glad youre safe and sound from the tornados that ran through the area. RIP to those lost.

Yeah, it's not good here. I'm still trying to catch up on exactly where all of the damage occurred.

And we certainly agree on how tax cuts and rate cuts are being misused in general to inflate a pretty good economy.

j/c

Coronavirus: Man receives $3,500 medical bill for test after returning to US from China

A Miami man has received a nearly $3,500 medical bill after getting coronavirus tests following his trip to China.

Osmel Martinez Azcue returned from a work trip last month to China and discovered he was feeling flu-like symptoms. Worried about the coronavirus, the man decided to go to a Florida hospital to get tested, according to the Miami Herald.

Testing revealed Mr Azcue had the flu, not the coronavirus. But his limited health insurance left him with a bill of $3,270 two weeks after his test. He will be responsible for $1,400 of that bill.

"How can they expect normal citizens to contribute to eliminating the potential risk of person-to-person spread if hospitals are waiting to charge us $3,270 for a simple blood test and a nasal swab?" Mr Azcue told the newspaper.

Mr Azcue previously had insurance through the Affordable Care Act. He picked that insurance as he makes $55,000 through his job at a medical-device company, and it does not provide a health insurance plan.

Once he first purchased the plan, he was paying $278 per month. These premiums then shot up to $400 once his full salary kicked in, forcing the man to cancel the coverage and pay $180 per month for a limited plan through National General Insurance.

This decision comes as the Trump administration rolled back the Affordable Care Act regulations in 2018 and allowed "junk plans" on the market.

These junk plans offer short-term, low-benefit coverage for people, but they also are not required to meet the law's standards for health coverage, meaning the plans could avoid covering pre-existing conditions or offering protections from large out-of-pocket expenses.

One problem people run into when shopping for insurance plans is the way these junk plans are advertised. Someone might think they have coverage for certain expenses only to discover later they don't.

Mr Azcue discovered that not only does he owe $1,400 out of pocket, but he also needs to provide his insurer with three years of medical records to prove that the flu he got didn't relate to a pre-existing condition. If for some reason the flu related to a pre-existing condition, then the insurer would no longer pay a portion of the man's bill.

Jackson Memorial Hospital, where Mr Azcue received his tests, told the Miami Herald more bills are on its way to the man. It is not clear what else he will have to pay for after getting tested for the coronavirus.

https://www.independent.co.uk/news/world...e-a9358146.html

Worse news: 10 year bonds fall under 1%. It’s now at .997

I really feel bad for retirees and such who live off their bonds for income. Man oh man.....

And just like that this aint OBAMAS market anymore lmao

Cutting rates does not effect a biological problem.

The only stimulus that will work for the economy is a treatment or vaccine to slow or end Corona.

Did Obama demand rate cuts recently? What an oblivious post.

I didn’t know the economy = the stock market.

Didn't you say that there is nothing to worry about with the virus tho?

I agree. So why are they cutting rates?

It's obviously not something that helps in this scenario. However, cutting rates when they're already this low is not something that needs doing.

Now trump wants a payroll tax cut.

Lol man this guy is worried about all the wrong things.

And the deficit will increase again.....

Times like these is why Biden is attractive to so many people.

Citizens want adults in government in times like this, not a realty tv host, making realty tv decisions.

Honest question: Does the fed. res. do as the president says, or are they independent and operate on their own with decisions as to cutting the rate or increasing the rate?

Because a lot of this "strong" economy isn't real. It's artificial/juiced up. That's why the market is so hyper-sensitive. It's been non-stop record-breaking swings.

That was true before.

It the AG was also supposed to be independent as well, yet it’s changed under trump. The fed has seemed to bow to political pressure under trump.

Which is funny, because Arch guess who nominated the current fed chair that he whines so much about?

As of right now that's a pretty good question.

I do believe I have been saying it is something to be concerned about but those who have their hair on fire in a panic should look at the facts from the Health Officials.

Personally I think it was an attempt to show they are ahead of this problem and tried to make everyone feel better.

Problem is, those who run the trillions of dollars in the Markets saw right through it.

Well there are experts who say this will help down the road as they are ahead of the problem. Me, I dunno.

Yeah, the mob scenes at Costco and run on survival goods is a little much.

Powell said today they consider all the information that comes into their office and Politics is never part of the consideration.

Thanks. But, didn't the fed raise rates a while back under trump, against his desire? I seem to remember something like that.

Yeah, they did apparently. https://time.com/5484538/fed-raises-interest-rates/

So, my question is: Does the president mandate what the fed does with rates? It appears the president does NOT control the fed. reserve.

Do I have that correct?

You mean like the CDC, WHO, etc that have all stated its a concern?

yes, but you keep thinking it’s a straight black and white answer, and nothing is ever like that.

The fed is supposed to be independent, that doesn’t mean they don’t Bow to political pressure from presidents who heavily imply something.

This shouldn’t be a difficult concept to grasp.

ANYWAYS

I’m more worried about the people, with new cases popping up. But using this as the political thread, it sucks that the feds bowed to pressure out of desperation and the opposite happen for what they thought would happen.

We’re not gonna QE our way out of this problem.

I’m hoping for a slight rally today cause I’m super pissed off looking at my etrade account right now.

Like, super pissed.

I’ve avoided looking at my 401k since all this hit. Finally took a peek yesterday. Down $20,000. Meh. No loss taken as I’ve got another 14 years until I’m drawing on it.

In the mean time I bought Carnival Cruiselines (CCL) the other day on sale. $31.68 a share. Norwegian was down too but doesn’t pay a dividend. CCL pays nearly 6%.
While you wouldn’t catch me dead on a cruise I’ll buy their misfortune. American travelers love their floating mall-hotels. Can’t seem to get enough of them for some reason that escapes me. Once this passes they’ll be lining back up on the docks.

I’m not reinvesting anything until we get stable leadership. I’ll miss out on some cash if it goes down like that.

Yesterday’s rally is slowly starting to look like a dead cat bounce.

I simply asked a question. Some on here are/were saying the fed dropped rates because of trump. I showed that the fed went against trumps wishes (or 'swihes' a number of times. Consequently, I feel the fed makes their own decisions. It's pretty simple.

GOP better not do that.

Never question a RawStory.com link!

You've posted hundreds of them.

Too late sis.