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  • Kudlow says coronavirus relief package worth more than $2 trillion

    From cnbc.com

    The stimulus package under negotiation in the Senate to combat the economic damage from the coronavirus pandemic will likely total more than $2 trillion, White House Economic Advisor Larry Kudlow said on Saturday. The package is equal to about 10% of U.S. economic output, Kudlow told reporters as he went to meeting with Republican senators on Capitol Hill. It’s a major escalation at roughly twice the size of the package the administration requested only several days ago. “We’re just trying to cover the right bases,” Kudlow said. He also said that small businesses would receive a payroll-tax holiday, though ... (full story)

Wow Wow, good news for pump up the stock markets.
Quoting tatah
Wow Wow, good news for pump up the stock markets.
Yes they try the bazooka's over the weekend. Easy trade depending. Market pops and fades or the markets simply know that this is not enough and fade it anyway.
Gold ?
thats a great excuse to print money endlessly ... well, well, well, I expect to see gold pop up to $1,500 as a gap up on Monday morning
Quoting RazorFitch
thats a great excuse to print money endlessly ... well, well, well, I expect to see gold pop up to $1,500 as a gap up on Monday morning
If it doesn't its going that way anyhoo within a reasonably short space of time.
Good to know my Bitcoin is getting a boost 👏👏👍
The question is: How long will the market remain irrational ..... ???
At some point the market is also going to realize that the mortality from COVID 19 is very low in the US, 276 for roughly 22000 cases, will not stay irrational for long
Quoting Ojiego
The question is: How long will the market remain irrational ..... ???
Irrational? Businesses are closed and 95% of companies will have huge negative revenues for March which is 1/12 of the year for now... Workers have been laid off and there is absolutely 0 business going on. The market is acting completely rational as they predict global value to be cut in half which may not be wrong by the end of the year depending on how long this whole pandemic lasts.

I dont think you know what the word irrational means...
Quoting RazorFitch
thats a great excuse to print money endlessly ... well, well, well, I expect to see gold pop up to $1,500 as a gap up on Monday morning
Last closed at 1497. 1500 is not far. I guess it will open around 1510-1515.
Sorry folks actually I meant the gold will gap up to $2,500
Quoting RazorFitch
Sorry folks actually I meant the gold will gap up to $2,500
I will have what you are smoking.
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Quoting RazorFitch
Sorry folks actually I meant the gold will gap up to $2,500
krikey
Ditch the dollar and stay on Gold , that’s what I am doing
More than a touch of hysteria in these posts. And a very bad psychology for making trading decisions. USD has been supported as expected reflecting the relative strength of the economy and the country in a very troubled world. The trouble is temporary of uncertain duration. But people will continue to eat, sleep, walk and talk, buy stuff, seek out entertainment and services but with some industries in a major flap.

USD also is also the key economy to trigger the next upswing in global growth. Low ratio of trade to GDP, Very large economy, unlikely to panic politically, heterogeneous population (with bias to xenophobia), wealthy and educated with humane values, neurotic in controlled way, patient in spite of extremes in society.

It would not be sensible to take large positions against the USD in current circumstances.
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  • Story Stats
  • Posted: Mar 21, 2020 11:57am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 18  /  Views: 9,335