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The Fed just slashed rates to 0.00% !
March 15, 2020
2:34 pm
Dean
Slocan Valley, West Kootenays, BC.
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sf-cool " Live Long And Prosper " sf-cool

March 15, 2020
2:38 pm
AltaRed
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More precisely 0.0-0.25% range. BoC may follow with yet even more reduction in the not so distant future depending on where the loonie goes.

March 15, 2020
3:05 pm
Doug
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Dean said
.
This just in from The Washington Post ⬇
https://www.washingtonpost.com/business/2020/03/15/federal-reserve-slashes-interest-rates-zero-part-wide-ranging-emergency-intervention/

Will the BoC follow suit ❓  

Yes. I said the BoC was going to 0-0.25% by September or, more likely, by June. I suspect it will be by April, at least to 0.25%.

They won't be successful. Consumers don't want to borrow more; they're tapped. What they need is less government, reduced red tape and bureaucracy, dramatically increased infrastructure spending, and means-tested cash transfers from the government. sf-cool

Cheers,
Doug

March 15, 2020
6:47 pm
toto
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On a Sunday night too!
Must be pretty worried.

March 15, 2020
6:50 pm
ReX
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Doug said

Yes.

They won't be successful[...]
What they need is less government, reduced red tape and bureaucracy, dramatically increased infrastructure spending, and means-tested cash transfers from the government. sf-cool

Cheers,
Doug  

Hmm…interesting and an eerie parallel to Trump’s master plan and already successful trajectory; I think you are a visionary!

For those uninitiated and bamboozled by the current domestic ” thoughtful policy makers” and their sycophant media, WOKE Never-Trumpers: ---------massive deregulation (by a simple stroke of a pen aka. an Executive Order) has taken place in the past 3 years…this is what my dear friend Doug is referring to as LESS RED TAPE… with exception that, if it ever were to happen here…fingers crossed, it will still fall drastically short in comparison to what has already taken place south of the border =>an ultimate unshackle from the maze of red tape… Anybody in a small or big business in Canada knows how uneven the play field has already become between Canada and US. Guess where the drain of intellectual and business capital will be heading to tomorrow…don’t have to look too far…just check what the big 5 are doing.

CoronaVirus will go away but it is a God’s send to “our thoughtful policy makers” to have something that would be so epic* for them to blame their ineptitude on. Politics at its best.

*Epic it is not…every year more people are dying from flue, as per stats, but it is not bull-horned by any of the now interested parties.

CoronaVirus is a variation of Pneumonia…but let’s give it a fancy name like COVID-19 and make it that much more ominous.

Remember SARS?...Mad Cow Disease?... Bird Flue?
150,000-575,000 fatalities (peged at 203,000) from SWINE FLUE across the globe…are you still with me?...ok.. you are alive… Now brace yourself…50 MILLION people were infected …were you worried at any point of time then?..no?…why?…because you had no idea how dangerous it was… and if you were young then, you would not give a sh*t about it …party on…you..WERE RIGHT THEN..power to the youth!…13,000 people died in US, but now you are very susceptible to anything that hurts your FEELINGS….

Every year we have a different strain of flue with a natural migration from East to West. It usually takes 3 months to reach us, enough time to develop a vaccine…only 80% useful because by the time it actually reaches us is, it morphs to a different strain…so some of us will unfortunately be destined to push up the daisies if our immune systems have been strained.
Anybody knows that catching Pneumonia at old age is facing a death squad. Do you see the Stock Market ticker with the #dead due to Pneumonia each year? X thousands in every country across the globe?

When US is now slowly realizing that Trump’s idea of retaining key industries in the country is an absolute must to prosperity, healthy economy and above all, national security, “our thoughtful policy makers” have taken a route in opposite direction…brace yourself…China!. …e.g. check 4G wifi communication contract for North Canada and many more…

US is now bent on blocking China from 5G infrastructures/sole owner intellectual property development /access in US.

China, as a major supplier of pharmaceuticals for US has recently threatened to plunge US into CoronaVirus oblivion by cutting supply of (apparently this time around obsolete)medicine ironically in many cases manufactured by the very US owned companies but for profit reasons manufacturing in China.

Just imagine if another country has power to cut you off from any communication and medication. This is how you conquer foreign land by not firing a single bullet!

Will Canadian based pharmaceutical manufactures not claim manufacturing shortage, as it was the cease early this year, if USA offers slightly above better price of purchase? You think you have a problem with interest rates? How about I take you off your meds!...just digressing…lol…still young at heart! ..literally NOT….

DISCLAIMER: I am drunk and just musing.
BTW..."means-tested cash transfers from the government" is nothing but the middles class income tax revenue redistribution scheme...you will get something disproportionately less for what you paid forsf-confused

March 15, 2020
7:06 pm
ReX
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I totally called it...LOL...
USA economy is going to rebound by the end of 3rd quarter and stocks will soar like you never seen before...LOL...sf-cool

just love to be a kid again...

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