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The US stock market has now wiped out the entire $11.5 trillion of value it gained since Trump's 2016 election victory
Thursday's steep sell-off erased all remaining gains made in the stock market since President Trump's 2016 election win.
The US equities market has lost $11.5 trillion in capitalization since peaking on February 19, pushed down by coronavirus risks and a global oil-price war.
The Trump administration initially downplayed the virus, with top economic adviser Larry Kudlow calling the outbreak "contained" on February 25 and telling investors to buy stocks while prices were lower.
Since then, House Democrats have pushed for fiscal relief legislation and the Federal Reserve has injected $1.5 trillion into the financial system to curb coronavirus' economic fallout.
The House just passed a bill guaranteeing free coronavirus testing and emergency paid sick leave
The House passed a sweeping coronavirus financial aid package. Now the Senate has to come back to approve it.
The House of Representatives voted Saturday morning to approve a bill aimed at easing the economic toll the novel coronavirus has on individuals, but the Senate won’t be able to take it up until at least Monday, because Senate Majority Leader Mitch McConnell has sent senators home for the weekend.
Despite this, the bill — which passed the House on a bipartisan basis — is expected to proceed through the Senate successfully, because President Donald Trump expressed his support for the measure on Twitter Friday night.
Just after midnight on Saturday morning, House lawmakers voted 363-40 to pass H.R. 6201, the Families First Coronavirus Response Act, to financially support Americans during the public health emergency caused by Covid-19. In its current form, the package ensures that working people are able to access paid leave should they become infected or need to give care. It also strengthens existing unemployment insurance and food assistance programs, and will provide free diagnostic testing for the virus.
Following the bill’s passage, House Speaker Nancy Pelosi (D-CA) wrote in a letter to her fellow Democrats, “Tonight’s legislation presents a strong stimulus to our economy to protect the health and financial security of America’s working families as we fight the coronavirus crisis.”
The bill will now head to the Senate for final approval. Senators were allowed to go home for the weekend, but an originally planned recess for this coming week has been canceled. While the upper chamber could take the bill up as early as Monday, it may do so later: McConnell said in a statement that lawmakers will be allowed to take their time to review the measure.
Does anyone else feel like this is a socialism test run??
Mass panic, lock downs, closing shit down (to reduce the infection curve supposedly).
Tons of Small businesses (and some bigger ones) are going to flounder during this and have to close their doors in the end.
Kids aren’t going to school, parents aren’t going to work, but the democrats will try to pass a bill that makes you dependent on a paycheck from the government (along with most businesses).
They have proven that they are able to control at least half of the country with their fear-mongering, and by their advice of shutting things down (which hasn’t happened with any other virus).
They have proven that they can keep group-gathering numbers down just by saying “quarantine” (whoops, I guess that’s now politically incorrect to say), I meant “social distancing”.
They are proving that a good number of people here in America are Stupid, “helpless”, ignorant people who can’t think for themselves (so the government will step in and think for you).
This literally seems like a worldwide test of martial law to some extent.
Omertà
Originally Posted by FrohnB
Not this current Administration
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