Nasdaq hits all time high.

[MillauFr]

It’s the investing is fun hypothesis with everything closed. Buying Hertz is like putting dollars into a shredder. I guess that’s fun for some people.

Even worse, I see the bankruptcy judge is letting Hertz get in on the action and sell $1 billion dollars is worthless shares to rubes that have no clue. Las Vegas is reopened. You might as well get a free room and drinks for the money you want to throw away.

 

[godisney14]

It’s saddening to read comments from people who are putting their money into hope for Hertz. The company is literally telling common holders that they can be wiped out. Yet, people are still investing.

What about that $1T infrastructure package? Can’t let the printing press take a breather.

And this?
https://www.businessinsider.com/mem...-loans-ppp-mnuchin-benefit-coronavirus-2020-6

Not that I was fully in support of it, but there were people strongly in objection to idea of universal incomes and other similar financial support programs. Yet, when the government spends money on Wall Street in ways that the average person cannot understand, most seem not to care.

 

[RamblingMad]

It’s saddening to read comments from people who are putting their money into hope for Hertz. The company is literally telling common holders that they can be wiped out. Yet, people are still investing.

What about that $1T infrastructure package? Can’t let the printing press take a breather.

And this?
https://www.businessinsider.com/mem...-loans-ppp-mnuchin-benefit-coronavirus-2020-6

Not that I was fully in support of it, but there were people strongly in objection to idea of universal incomes and other similar financial support programs. Yet, when the government spends money on Wall Street in ways that the average person cannot understand, most seem not to care.

I’d love universal healthcare and income. But there is so much rhetoric about communism that it makes you feel like you’re in the 50s with the blacklist. My local politician is running on the platform that China and Communism is bad. When I first saw the ad, I almost fell off my couch laughing.

Check out the movie Trumbo. I think it’s on Netflix now.

 

[MillauFr]

Not that I was fully in support of it, but there were people strongly in objection to idea of universal incomes and other similar financial support programs. Yet, when the government spends money on Wall Street in ways that the average person cannot understand, most seem not to care.

Yes I still don't understand the people who rail against government welfare programs and then proceed to ignore all of the government programs that benefit Wall St.

We had a candidate in Washington State running for US Senator a few years ago. One of his major positions was reducing the size of government welfare programs. A Seattle Times reporter did a little digging and found that he received large farm support payments. The hypocrisy he showed was startling even for Washington DC standards.

https://www.seattletimes.com/seattl...s-us-aid-got-thousands-in-subsidies-for-farm/

 

[godisney14]

Yes I still don't understand the people who rail against government welfare programs and then proceed to ignore all of the government programs that benefit Wall St.

We had a candidate in Washington State running for US Senator a few years ago. One of his major positions was reducing the size of government welfare programs. A Seattle Times reporter did a little digging and found that he received large farm support payments. The hypocrisy he showed was startling even for Washington DC standards.

https://www.seattletimes.com/seattl...s-us-aid-got-thousands-in-subsidies-for-farm/

Kind of like what some congressional members did recently by partaking in the PPP? Happens on both sides.
Edit: here's a link to this. https://www.politico.com/news/2020/06/16/congress-small-business-loan-320625

For example, Rep. Roger Williams of Texas has a net worth of almost $30 million. Yet, he received money from the PPP for his chain of car dealerships and body shops, and in the recent past voted against other appropriation and consumer relief bills, such as the 2020 CREDIT and HEROES acts.


BTW, in today's economic news. Looks like Powell and the Fed are not hiding their blatant leveraging of power.
https://www.cnbc.com/2020/06/17/the...ect-corporate-bond-purchases-powell-says.html
Now, they're going to stop buying bond funds and go all in with buying individual corporate bonds.