Goldman Expects Dems To Pass New $750BN Stimulus Next Month, Sending Economy Into Overdrive
Now that a “blue sweep” of Congress is reality, Wall Street has thrown out their existing market and economic forecasts and gone back to the drawing board to account for billions more in imminent stimulus. Not surprisingly, the first to publish a new and improved projection deck was Goldman which overnight said it had revised…
Schumer Says $2K Stimulus Checks Will Be Top Priority For New Congress
Update (1255ET): Schumer said on Wednesday that one of his first priorities would be to push through the $2K stimulus checks that both Nancy Pelosi and President Trump have said they would support (before the measure was scuttled by Mitch McConnell). passing legislation to provide $2K stimulus checks will be one of the first orders…
Stocks Surge On Expectations Dems Will Unleash Imminent Stimulus Tsunami
After a brief slump overnight, stocks are surging, lead by reflation-friendly small caps which have hit another record, although with the Dow Jones now also at all time highs even the duration-sensitive Nasdaq is in the green. While there is no catalyst to explain the reversal, one argument making the trading desk rounds is the…
Why You Should Expect More Stimulus Fraud Coming Soon
By Brad Polumbo We’ve all heard the apocryphal quote attributed to Albert Einstein: “Insanity is doing the same thing over and over again and expecting different results.” Einstein might not have actually said it, but the quip nonetheless describes what Congress is doing right now with COVID-19 stimulus efforts to a T. Remember that the…
$600 Stimulus Checks Won’t Pull America Out Of This Mess
By Michael Snyder Well, it looks like we are going to get $600 stimulus payments from the federal government after all. Oh goody! For the millions of Americans who are on the brink of being evicted from their homes, that will be enough for about half a mortgage payment or about half a month of…
$2,000 Stimulus May Pass Senate As Republicans Defy McConnell, Side With Trump
Senate Republicans are facing an optics nightmare after 44 House Republicans joined 231 Democrats on Monday to pass a bill which would increase stimulus checks from $600 to $2,000. The move, staunchly opposed by Senate GOP leaders, followed President Trump’s surprise demand last week that lawmakers include the increase in a $900 billion package which…
Futures Hit New Record High After House Approves $2,000 Stimulus Checks
US index futures and global stocks rose for a fourth straight day, hitting new all time highs on Tuesday after the Democrat-controlled House sided with Trump and passed a bill boosting stimulus payments for most Americans from $600 to $2,000 (which will almost certainly die in the Republican-controlled senate). The dollar dropped while oil and…
Goldman Now Sees Q1 GDP Surging 5% Thanks To $900BN Covid Stimulus
It was just one month ago when Wall Street’s best and brightest – which these days also means most clueless – personified in this case by JPMorgan’s chief economists, predicted that GDP in the first quarter of 2021 would contract by 1%, effectively putting the US on collision course with a double dip recession. Just…
Stimulus Payments Set Stage For The Revolution's Sedation
Authored by Joseph Jankowski via PanetFreeWill.com, It would be another form of kicking the can down the road. You pay the people for their complacency until you can’t any longer… After the congressional passage of the 5,593 page COVID “stimulus” bill on Monday, President Trump shot the legislation back into the hands of congress demanding…
Five Outrageous Items Snuck in the “COVID Stimulus” Bill
By Derrick Broze As Americans wait for their $600 stimulus check, the rich get richer and the U.S. government ignores the needs of the people. The U.S. Congress has approved the largest spending bill ever, disguised as a “COVID-19 Stimulus Bill”. The “Consolidated Appropriations Act 2021” has been promoted by politicians and mainstream media as…
Why The Second Stimulus Won't Have Much Economic Impact
Authored by Lance Roberts via RealInvestmentAdvice.com, In October, I discuss how the “2nd Derivative Effect” would mute the impact of future stimulus programs. With the passage of the $900 billion stimulus package, we can update the estimates for the economic impact heading into 2021. While most hope more stimulus will cure the economy’s ills, the “2nd derivative…
Trump Kicks COVID Bill Back To Congress; Demands $2,000 Stimulus, Shreds Lawmakers Over Mountain Of Pork
By Tyler Durden President Trump appeared to threaten to veto the COVID-19 stimulus package that Congress passed almost 24 hours earlier, telling lawmakers to boost checks for Americans to $2,000 as well as “get rid of wasteful and unnecessary items” in the spending bill Trump said “throughout the summer, Democrats cruelly blocked COVID relief legislation in an…
Stimulus: Billions of Dollars Handed to Foreign Countries While Americans Stiffed With $600 Checks
By PFW News Billions of dollars will be given away to foreign countries as part of the coronavirus-stimulus bill expected to be voted on Monday, begging the question: is it even a “stimulus” bill at all? After the full 5593 page bill was released for the public’s viewing, many curious citizens and journalists decided to…
$15BN For Airlines, Corporate Meal Tax Breaks And Other Pork: What’s Inside The $900BN Stimulus Bill
By Tyler Durden With the latest $900 billion covid stimulus deal now done (which unless the Democrats win the Georgia Senate runoffs in 2 weeks will be the final covid stimulus bill according to Goldman), attention turns to what’s actually in it. First: the good news – the bill will include a fresh round of…
Global Stocks Hit All Time High On Stimulus Optimism Ahead Of Fed Meeting
Another overnight session, and – predictably – futures are higher in keeping with the most glaringly obvious market trend since 2016 of stocks surging during overnight US trading (while trading flat in regular trading hours)… … alongside world stocks which rose to a fresh record high on Wednesday ahead of today’s Fed meeting – the…
Futures Jump As Vaccine Optimism, Stimulus Hopes Return
Yesterday morning, after the early swoon, we said that as part of a gloriously repeating pattern, the drawdown will promptly reverse and on Tuesday morning things will be back to normal with the vaccine, stimulus narrative regaining the upper ground. This morning’s vaccine optimism has been replaced with shutdown pessimism. This will reverse tomorrow morning…
IRS Sent $1,200 Stimulus Checks to Random European Citizens, New Reporting Shows
By Brad Polumbo Congress is debating another round of COVID-19 stimulus legislation right now. But as the details continue to be hashed out, new evidence keeps mounting that shows just how wasteful and inefficient the first stimulus bill was. The $2 trillion+ CARES Act, passed in March, sent $1,200 “stimulus” checks to many Americans in…
Tax Payer Funded Coronavirus Relief is Double the 2009 “Stimulus” Plan – Abuse, Fraud and Waste Exposed (Full Measure)
By B.N. Frank What’s troubling to many Americans: not that Coronavirus Relief is being distributed, but to whom and for what. From Full Measure: (Video posted below) TRANSCRIPT There’s more tax money going toward coronavirus relief than anything comparable. The amount is more than double the so-called “stimulus” plan in 2009. Today, who’s following the…
Goldman Capitulates On “Major” Stimulus, Now Sees Just $700BN Fiscal Aid In Early 2021
Back on September 24, long after we repeatedly said that any hopes for another major stimulus before the election (and certainly after, absent a Democratic sweep) was nothing but a pipe dream, Goldman – which until that point had predicted that Congress would pass a $1.5-$2 trillion fiscal stimulus “shortly” – threw in the towel…
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