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  • Originally posted by MrOilers View Post
    Dow roars back from coronavirus sell-off with biggest gain since 2009, surges 5.1%

    https://www.msn.com/en-us/money/mark...vPg?li=BBnbfcL
    And dropping another 620 points today despite emergency measures taken to drop interest rates, the first time such emergency measures were taken since the crisis of 2008.

    So much winning.

    Tired of winning yet?
    Last edited by Edmonton PRT; 03-03-2020, 10:35 AM. Reason: Updated point drop
    Advocating a better Edmonton through effective, efficient and economical transit.

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    • The markets dropped back after the Fed Reserve made a sudden, unexpected rate cut.

      That's how it goes.

      Comment


      • Originally posted by MrOilers View Post
        The markets dropped back after the Fed Reserve made a sudden, unexpected rate cut.

        That's how it goes.
        You don't have any experience or knowledge of how the stock market works, do you?

        The markets went up yesterday, which you crowed about, on the anticipation of the Trump announced rate cut.

        The sugar high just lasted 24 hours


        The Fed lowers interest rates in order to stimulate economic growth, as lower financing costs can encourage borrowing and investing. However, when rates are too low, they can spur excessive growth and subsequent inflation, reducing purchasing power and undermining the sustainability of the economic expansion.
        https://www.investopedia.com/article...-consumers.asp

        Markets love Fed rate cuts, which make stocks even more attractive than bonds, whose yields tend to fall when the Fed lowers its key rate. Ten-year Treasury bonds, for example, are paying a meager 2.05% in annual interest. Lower rates also spur more consumer and business borrowing, which sparks economic activity
        https://www.usatoday.com/story/money...ks/1861478001/
        Last edited by Edmonton PRT; 03-03-2020, 05:43 PM. Reason: added 2nd quote
        Advocating a better Edmonton through effective, efficient and economical transit.

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        • Trump surrenders, declares it a victory, and goes home

          Scott Gilmore: The Afghanistan 'peace deal' will see America cut and run. It is the least worst option for the U.S.—and a troubling end for Afghans

          There is a peace deal to end the war in Afghanistan. Or, at least, there is something that is being widely described as a peace deal. On closer inspection, that may be stretching the truth a little.

          Over the weekend, the United States and the Taliban signed an agreement in Doha that President Donald Trump claimed would bring home the 12,000 American soldiers still stationed in Afghanistan. The broad strokes of the deal are that the Taliban will honour a cease fire, promise to not support al-Qaeda, and release 1,000 Afghan prisoners. In return, the U.S. promises 5,000 prisoners will be released, they will withdraw all western troops, lift sanctions and provide economic support to a new Afghan government that includes the Taliban.

          The current Afghan government, however, has responded with a “Say what now?” President Ashraf Ghani was just re-elected in the country’s fourth peaceful democratic election, and he is not entirely happy about the idea of sharing power with the people who have been trying very hard to kill him. And by “not entirely happy” I mean he is very much opposed to it. He has also said that the Afghan government has no intention of releasing 5,000 Taliban prisoners, regardless of what the Americans may have promised on their behalf.
          https://www.macleans.ca/opinion/trum...and-goes-home/
          Advocating a better Edmonton through effective, efficient and economical transit.

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          • Well that did not last long...


            Trump and Taliban speak by phone as violence resumes in Afghanistan
            By Jennifer Hansler, CNN
            Updated 5:06 PM EST, Tue March 03, 2020


            Washington(CNN)President Donald Trump and Mullah Abdul Ghani Baradar, the Taliban's chief negotiator and one of its founding members, spoke by telephone on Tuesday amid reports that the Taliban had resumed violence in Afghanistan days after the US and Taliban signed a historic agreement in Qatar.

            Trump confirmed the call as he departed the White House Tuesday afternoon, telling reporters he "had a very good talk with the leader of the Taliban."

            "I spoke to the leader of the Taliban today, we had a good conversation, we have agreed there is no violence, don't want violence. We will see what happens. They're dealing with Afghanistan but we will see what happens," Trump said.


            "The relationship is very good that I have with the mullah," Trump added in later comments at the National Institutes of Health. "They want to cease the violence, they'd like to cease violence also."

            His comments come as the Taliban have resumed hostilities in Afghanistan, carrying out 33 attacks in the past day, according to the Interior Ministry. Marwa Amini, a deputy spokeswoman for the ministry, said there were attacks in 16 provinces, targeting civilians and security forces.
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            • Originally posted by MrOilers View Post
              The markets dropped back after the Fed Reserve made a sudden, unexpected rate cut.

              That's how it goes.
              U.S. stocks rebounded on Wednesday after results of the Democratic party’s primary vote to nominate a presidential candidate in November’s election boosted the chances of former Vice President Joe Biden.

              On Tuesday stocks had slumped when a rare emergency interest rate cut by the Federal Reserve failed to inspire investor confidence in policymakers’ ability to counter the COVID-19 epidemic, the infectious disease that originated in Wuhan, China late last year.
              https://www.marketwatch.com/story/us...ies-2020-03-04
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              • Breaking News

                Bloomberg suspends presidential campaign, endorses Biden. Will keep funding Democrat campaign to take down Trump.
                Advocating a better Edmonton through effective, efficient and economical transit.

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                • Originally posted by Edmonton PRT View Post
                  Breaking News

                  Bloomberg suspends presidential campaign, endorses Biden. Will keep funding Democrat campaign to take down Trump.
                  Good to hear. I'm not a fan of billionaires and their huge self funded campaigns. I think Bloomberg has come to the conclusion he could continue to spend as he has the money to do so, but that it would now be counterproductive. He really wants to get rid of Trump and probably naturally felt he would be the best person to do so, but I think he realizes the rest of the world doesn't think he would be the best one to do so.

                  Politics can be quite an ego boost when you win, but it is a double edged sword. Even billionaires like Bloomberg who are probably used to a lot of adulation and respect sometimes have to eat a bit of humble pie occasionally. It seems like he is taking humility more gracefully than the other famous (or is that infamous) New York billionaire (?) who will be the Republican candidate ever does.

                  Comment


                  • Bloomberg stated months ago that he was getting in as he did not think that the candidates including Biden were strong enough. Well Biden came around and trumped Bloomberg without spending a penny to Mike's dollar. The majority of Bloomberg's money and ads were anti-Trump rather than taking swipes against other Democratic candidates so the money was not wasted and can be continued to be used with minor edits.

                    I agree, I don't like the huge dollars going into campaigns and the large donations from well heeled candidates, individuals, corporations, unions, groups, dark money and Super-Pacs should be limited to $2,000 for individuals who are US Citizens of voting age and no one else, IMHO so that no one is beholden to anyone or expect ambassadorships, positions or favors.

                    Bloomberg is still not out. He could have easily swung a deal to be Biden's VP or Secretary of State or just have influence on his interests going forward. To me, that should not be allowed in a democracy, buying influence. One person, one vote, limited contribution and since corporations, unions, special interest groups, registered lobbyists, dark money and Super-Pacs should be shut out of the process all together.
                    Advocating a better Edmonton through effective, efficient and economical transit.

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                    • Won't happen until the Dems oust the GOP from the White House, the House and the Senate. The GOP would fight bringing in something to overturn the Citizens United ruling tooth and nail.

                      And in Alberta, Jason Kenney tried to skirt election laws as well.

                      MEET THE RICH AND POWERFUL MEN FINANCING KENNEY’S LATEST ATTACK PAC
                      ​​​​​​
                      ​​​​​​In December campaign finance restrictions kick in, including a hard cap on how much money can go towards political ads. A set of very wealthy Albertans are rushing to pour as much big money into ads as they can before that deadline hits.

                      It’s a small group and they’re not your average working-class folks. It’s a group of people so wealthy that they can buy billboards, newspaper advertisements, and expensive radio and television ads to push for their own interests.

                      In the past few weeks we’ve seen more and more of this big-money politics from one group in particular. They’re called Shaping Alberta’s Future and they’re stumping for Jason Kenney.

                      In just a few months they’ve raised hundreds of thousands of dollars--more than the Alberta Party has raised in an entire year. And they’ve put that money to work right away, buying up television ads across the province that call for worker protections to be rolled back, for minimum wage to be lowered, and for Alberta’s climate plan to be torn up.

                      About two thirds of that mountain of cash came from the Motor Dealership of Alberta, an umbrella group that represents car dealerships--think of the MDA as the car salesmen lobby. The MDA met with Jason Kenney on September 6th, and we’ll never know exactly what was said behind closed doors but immediately after the meeting MDA chair Andrew Robinson sent this letter out to the dealerships in the MDA.

                      https://www.progressalberta.ca/whos-...haping-alberta

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                      • Originally posted by Edmonton PRT View Post
                        Bloomberg stated months ago that he was getting in as he did not think that the candidates including Biden were strong enough. Well Biden came around and trumped Bloomberg without spending a penny to Mike's dollar. The majority of Bloomberg's money and ads were anti-Trump rather than taking swipes against other Democratic candidates so the money was not wasted and can be continued to be used with minor edits.

                        I agree, I don't like the huge dollars going into campaigns and the large donations from well heeled candidates, individuals, corporations, unions, groups, dark money and Super-Pacs should be limited to $2,000 for individuals who are US Citizens of voting age and no one else, IMHO so that no one is beholden to anyone or expect ambassadorships, positions or favors.

                        Bloomberg is still not out. He could have easily swung a deal to be Biden's VP or Secretary of State or just have influence on his interests going forward. To me, that should not be allowed in a democracy, buying influence. One person, one vote, limited contribution and since corporations, unions, special interest groups, registered lobbyists, dark money and Super-Pacs should be shut out of the process all together.
                        I think people with lots of money are used to it facilitating so many things and they also tend to think they can just jump in and transfer their success in the financial world to politics. Well, money does have an impact in politics, but not always quite as much as some think.

                        Biden also has other political IOU's for those other candidates who withdrew and then endorsed him earlier. I am thinking his VP would likely be a woman, younger, perhaps black, perhaps from the mid west, the south or west to balance out the ticket, as they like to say in the US. However, Bloomberg would probably be a good candidate for Secretary of something, unless he prefers to be an Ambassador. I understand he has at least one residence already outside of the US.

                        Comment


                        • So this is what a Trump peace deal looks like. Not worth the paper that it is printed on....

                          The US launched a new airstrike against the Taliban one day after Trump held a 'very good talk' with the terrorist group

                          The US military launched its first airstrike in weeks against the Taliban early Wednesday, one day after President Donald Trump said he had a "good talk" with the terrorist group.

                          US Army Col. Sonny Legget, the spokesman for US Forces Afghanistan, said the attack was "defensive," and was launched to counter a Taliban assault against US-backed Afghan government forces in southern Helmand province.

                          "We call on the Taliban to stop needless attacks and uphold their commitments," Legget said in a statement. "As we have demonstrated, we will defend our partners when required."

                          The attack marks the first US assault with the Taliban in 11 days. On Tuesday, Trump said he had a "a very good talk" with Taliban leaders about a conditional agreement signed on February 29 that would see the US withdraw all troops from Afghanistan, as long as the group held up its end of the bargain.

                          The Taliban claimed in its own statement that Trump said it was a "pleasure" to talk to the group.
                          https://www.businessinsider.com/afgh...iations-2020-3
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                          • Let me explain: In Trumpspeak, "we have a deal" = "I'm about to screw you"

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                            • Trump believes that he can make a deal with the Taliban, North Korea and Putin.

                              Trump is like Chamberlain

                              Advocating a better Edmonton through effective, efficient and economical transit.

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                              • Elizabeth Warren drops out. Have not heard if she is endorsing Biden or Sanders

                                With the Trump Slump and the coalescing Democratic party, Trump should be worried. Very worried as his lies and maleficence is catching up to him. He cannot even find competent people to fill positions. No one wants to work for an unstable backstabbing autocrat.
                                Advocating a better Edmonton through effective, efficient and economical transit.

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