Author: BlackMask Financial

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Trump: Delay of stimulus would be dangerous and costly

President Trump on Friday blasted Rep. Thomas Massie (R-Ky.) as a “grandstander” and called for him to be jettisoned from the Republican Party amid growing anticipation the lawmaker would object to the $2 trillion coronavirus relief package poised to be voted on by the House. “Looks like a third rate Grandstander named @RepThomasMassie, a Congressman from, unfortunately, a truly GREAT State, Kentucky, wants to vote against the new Save Our Workers Bill in Congress,” Trump wrote in a pair of tweets Friday morning. “He just wants the publicity. He can’t stop it, only delay, which is both dangerous … & costly.” Trump acknowledged that his administration had to make some “stupid” concessions in negotiations with Democrats to get a deal on legislation to help American workers and businesses impacted by the coronavirus.

But the president declared the legislation “90% GREAT” and recommended Republicans “throw” Massie out of the Republican Party.

“Workers & small businesses need money now in order to survive. Virus wasn’t their fault. It is ‘HELL’ dealing with the Dems, had to give up some stupid things in order to get the ‘big picture’ done, 90% GREAT!” Trump tweeted. “WIN BACK HOUSE, but throw Massie out of Republican Party!” The $2 trillion economic relief passage, which passed the Senate in a unanimous vote overnight Wednesday, was the result of days-long negotiations between the Trump administration and senators from both sides of the political aisle. House Democrats vowed Friday morning that the lower chamber would pass the legislation later that day, despite a last minute hurdle created by Massie that forced lawmakers to scramble to return to Washington. House leaders hoped to pass the bill unanimously in a voice vote but Massie has threatened to force a roll call vote Friday morning on the legislation, which means that enough lawmakers would need to return to Washington to form a quorum for a floor vote. Massie, a libertarian-minded lawmaker, objected to the bill in a tweet Thursday, raising concerns about the amount of money it would add to the national debt and calling it “not a good deal.”

The bill includes $1,200 one-time payments to many Americans; sets up a $500 billion corporate liquidity fund to help struggling industries like airlines; allocated $377 billion for aid to small businesses; and boosts the maximum unemployment benefit by $600 per week for four months.

Trump has urged Congress to pass the legislation the past two days, saying he would sign it immediately. Nick Note: Comrade the greatest government giveaway ever = the greatest stock market rally ever and and and Trump is now guaranteed a landslide reelection.

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This Could Be You – You need to take this seriously

Nick Note: This could well be you. I urge you to use the disinfectants we showed you. I urge you to get the medicines  we know works. I beg you to self quarantine especially away from children. Use Ozone sterilization  on EVERYTHING!  I can get you out of a loss. I can even get you out of jail! But i cannot get you out of the grave. But i sure as hell know how to keep you out of the quarantine center and the hospital.

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US jobless claims surge to record 3.3M amid COVID-19 pandemic

An unprecedented number of Americans applied for unemployment benefits last week as the coronavirus shuttered businesses nationwide. m,Roughly 3.3 million people filed a claim for jobless aid in the week ending March 21, a nearly fivefold increase over the previous weekly record back in 1982. By way of comparison, in the worst single week after the financial crash of 2008, jobless claims stood at 665,000. “This represents the single worst one-day piece of labor market news in America’s history,” Andrew Stettner, senior fellow at the Century Foundation, said in an email.

The number of Americans seeking jobless aid “starkly illustrates the extent of the economic devastation that the coronavirus has unleashed,” Paul Ashworth of Capital Economics said in a note to investors. For perspective, the unemployment claims reported Thursday wipe out all the job gains for 2019 and half of 2018. And as staggering as the figures are, they are likely to rise in the coming weeks, Ashworth noted. The deluge in claims has overwhelmed many state websites, preventing many recently laid-off workers from applying for financial assistance. Ashworth added that he expects the nation’s unemployment rate, which was at a 50-year low of 3.5% in February, to top 10% as soon as next month.

Treasury Secretary Steven Mnuchin dismissed the jobless claim figures on Thursday, saying they were “not relevant” because U.S. lawmakers were on the cusp of passing a significant economic stimulus bill. The package would give unemployed workers their full pay for four months, expand benefits to independent contractors (who are typically exempt) and send direct payments of up to $1,200 to every adult.

The package also includes hundreds of billions of dollars in loans to businesses, and aid for hospitals and state and local governments. Nick Note: I call the the smelly arm pit stinky asshole Netflex Dream Ream! THE millennials are in heaven. sleep all day, watch Netflex all night, eat pizza stay home all day play video games and best of all stay high. And the really good part isyou don’t have to make cappuccinos at Starbucks.  And as a added bonus is you don’t have to pay rent or shower……..

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Can The U.S. Convince Saudi Arabia To End The Oil War?

Pompeo Trump

US Secretary of State Michael Pompeo is applying verbal pressure to Saudi Arabia, encouraging the Middle Eastern country who started the oil price war to “rise to the occasion” and reassure the oil markets, the State Department has said, according to the Arab News. Pompeo spoke to Saudi Arabia’s Crown Prince Mohammed bin Salman (MbS) before a G20 conference call, urging at least action through words, at a time when oil prices are particularly vulnerable—not just because of the oil price war, but also because of the depressed demand stemming from the coronavirus. lBut the words seem laughable, given that the low oil prices are precisely what Saudi Arabia is hoping to achieve. Saudi Arabia has, for years, been doing the lion’s share of the production cutting that OPEC agreed on to hold up oil prices, at great cost to its own finances. Meanwhile, other OPEC nations such as Iraq, have done precious little to toe the OPEC line, and Saudi Arabia has had to cut more to offset the noncompliant members. Russia, too, has failed to live up to its part of the production cuts. When the OPEC+ deal fell apart a couple of weeks ago, it was Russia’s reluctance to cut more and for longer—as if they had restricted production to any great extent in the first place, overproducing nearly—if not every—month throughout the deal. Its rationale for refusing to cut and to cut more are not without merit. First, Russia’s oilfields cannot be turned on and off as easily as others, such as US shale. Second, cutting back production to manipulate the prices only works if the world’s largest producer—the United States—were to play along too. And it’s not. Cutting back production further, Russia contends, opens the door for US shale to take even more market share
The refusal was the last straw for Saudi Arabia, and it responded by playing hardball, threatening to increase its production as of April 1, when the current OPEC production agreement is set to end. Saudi Arabia is likely hoping that the low oil prices will be Russia back to the table. Russia, likewise, is hoping Saudi Arabia won’t have the staying power to hold the line at $20-something oil. For now, this is precisely the situation Saudi Arabia was hoping for—pain for other oil producers to bring about a change in action. Saudi Arabia, however, probably didn’t expect the prices to drop off quite so quickly, helped by the devastating effects of the global COVID-19 pandemic. Without some incentive, and there may be one that the United States is offering, MbS has little reason to undo the damage it has intentionally inflicted in the oil markets. Nick Note: They are all hurting and soon their wil be a deal. If the economy is recovering that means oil consumption will soar.

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House to vote on $2T stimulus bill on Friday

House Majority Leader Stany Hoyer announced late on Wednesday the COVID-19 funding bill worth $2.2 trillion will be considered by the lower house on Friday. Additionally, he informed Congress members under coronavirus quarantine measures and others unable to make the vote, they needn’t come as the bill is expected to pass the House of Representatives by a voice vote. The stimulus bill was approved by the Senate earlier after House Majority Leader Chuck Schumer and Senate Republican Mitch McConnell previously reached an agreement on the relief package. Nick Note: Carl Marks would be proud comrade!  The biggest spending bill EVER. Now hear me well. IF 10 million people were killed by the coronavirus (impossible at this time) you will still end up with the the greatest growth in US history,  ANd for the record the stock market will reach new record highs this year!

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US Senate approves $2T COVID-19 stimulus bill

United States Senate has passed the $2 trillion coronavirus relief bill 96-0 late on Wednesday in an effort to negate the effects of the coronavirus crisis. The legislation, almost 900 pages long, includes direct payments to American citizens, enhanced unemployment insurance, affordable loans to businesses affected by the outbreak and significantly increased health care resources for hospitals. After the proceedings are finished, the Senate will be going on holidays until April 20. Meanwhile, the House of Representatives is set to open discussion and eventually vote on the legislation on Friday morning.

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Pompeo, MbS discuss oil market

 

United States Secretary of State Mike Pompeo and Saudi Crown Prince Mohammad bin Salman discussed the global oil and financial markets as well as the coronavirus in a phone call, the State Department confirmed on Wednesday. Spokesperson Morgan Ortagus said: “Secretary of State Michael R. Pompeo spoke yesterday with Saudi Crown Prince Mohammed bin Salman Al Saud. Secretary Pompeo and the Crown Prince expressed their deep concern over COVID-19 and the need for all countries to work together to contain the pandemic. Secretary Pompeo and the Crown Prince focused on the need to maintain stability in global energy markets amid the worldwide response. The Secretary stressed that as a leader of the G20 and an important energy leader, Saudi Arabia has a real opportunity to rise to the occasion and reassure global energy and financial markets when the world faces serious economic uncertainty.” The two also discussed Iran’s “distabilizing regional behavior,” the spokesperson added.

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Three senators insist COVID-19 bill is fixed fast

Three Republican members of the United States Senate issued a statement on Wednesday saying a “massive drafting error” in the current version of the $2 trillion COVID-19 emergency relief bill needs to be fixed before adoption to save jobs.

South Carolina senators, Tim Scott and Lindsey Graham (pictured), and Nebraska Senator Ben Sasse wrote: “Unless the bill is fixed, there is a strong incentive for employees to be laid off instead of going to work.” They added they will oppose fast-tracking the bill until changes are made to the text or “until the Department of Labor issues regulatory guidance that no American would earn more by not working than by working.”

Earlier, Majority Leader Mitch McConnell stated that the bill would pass the Senate later in the day.

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Airline promises to pay passengers £7k if they catch coronavirus on flights

A controversial airline has announced it will pay customers up to £7,000 if they catch coronavirus while flying with them. Vietnamese carrier Vietjet has introduced its new “Sky Covid Care” insurance scheme as a way of protecting customers during the current global pandemic. Under the policy, if a passenger contracts COVID-19 while travelling on a Vietjet flight, they will be eligible for a payout of up to 200 million Vietnamese dong (£7,085). The payout is applicable for all domestic flights in Vietnam between now and June 30, and applies to all eligible customers free of charge and regardless of their nationality. Any passengers who have already tested positive to the virus and those who fail to follow recommended safety regulations, such as self-isolation or travel bans, will not be eligible for the payout. Passengers with epilepsy or mental illness are also not eligible for the scheme. Nick Note: do not listen to the talking heads. People will fly again. the airlines will finally install hepta filters and bribe passengers with coast to coasr round trip flights for $49..

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GOP and Dems reach deal on $2T COVID-19 bill

WASHINGTON (AP) — The White House and Senate leaders of both parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic.

The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weeks- or months-long patch for an economy spiraling into recession and a nation facing a potentially ghastly toll.

Top White House aide Eric Ueland announced the agreement in a Capitol hallway shortly after midnight, capping days of often intense haggling and mounting pressure. It still needs to be finalized in detailed legislative language. “Ladies and gentlemen, we are done. We have a deal,” Ueland said. The unprecedented economic rescue package would give direct payments to most Americans, expand unemployment benefits and provide a $367 billion program for small businesses to keep making payroll while workers are forced to stay home. One of the last issues to close concerned $500 billion for guaranteed, subsidized loans to larger industries, including a fight over how generous to be with the airlines. Hospitals would get significant help as well. “After days of intense discussions, the Senate has reached a bipartisan agreement on a historic relief package for this pandemic,” said Majority Leader Mitch McConnell, R-Ky., a key negotiator. “It will rush new resources onto the front lines of our nation’s health care fight. And it will inject trillions of dollars of cash into the economy as fast as possible to help Americans workers, families, small businesses and industries make it through this disruption and emerge on the other side ready to soar.” At the White House on Tuesday, even as the public-health crisis deepened, President Donald Trump expressed eagerness to nudge many people back to work in coming weeks and held out a prospect, based more on hope than science, that the country could be returning to normal in less than a month. “We have to go back to work, much sooner than people thought,” Trump told a Fox News town hall. He said he’d like to have the country “opened up and just raring to go” by Easter, April 12. But in a White House briefing later, Trump said that “our decision will be based on hard facts and data.” The World Health Organization says the U.S. could be the next hot spot for Covid-19 Dr. Anthony Fauci, the government’s top infectious disease expert, said pointedly at the briefing, “No one is going to want to tone down anything when you see what is going on in a place like New York City.” On Capitol Hill, five days of arduous talks produced the bill, creating tensions among Congress’ top leaders, who each took care to tend to party politics as they maneuvered and battled over crafting the legislation. But failure was never an option, which permitted both sides to mark big wins.

Even before the deal was reached, news of the likely but elusive agreement had sent the stock market rocketing on Tuesday. The emerging rescue package would be larger than the 2008 bank bailout and 2009 recovery act combined.

The unprecedented economic rescue package would give direct a one-time payment of $1,200 per adult and $500 per child directly to the public. A huge cash infusion for hospitals expecting a flood of COVID-19 patients grew during the talks at the insistence of Sen. Chuck Schumer, the Democratic leader, while Republicans pressed for tens of billions of dollars for additional relief to be delivered through the Federal Emergency Management Agency, the lead federal disaster agency.] Democrats said the package would help replace the salary of furloughed workers for four months, rather than the three months first proposed. Furloughed workers would get whatever amount a state usually provides for unemployment, plus a $600 per week add-on, with gig workers like Uber drivers covered for the first time. “It ensures that all workers are protected whether they work for businesses small, medium or large, along with self-employed and workers in the gig economy,” Schumer said. Republicans won inclusion of an “employee retention” tax credit that’s estimated to provide $50 billion to companies who retain employees on payroll and cover 50% of workers’ paychecks. Companies would also be able to defer payment of the 6.2% Social Security payroll tax. Democrats pointed to gains for hospitals, additional oversight of the huge industry stabilization fund, and money for cash-strapped states. A companion appropriations package ballooned as well, growing from a $46 billion White House proposal to more than $300 billion, which dwarfs earlier disasters — including Hurricane Katrina and Superstorm Sandy combined. Nick Note: Everybody goes home happy. Best part of this is the Wall Street talking heads are not sure. PERFECT!  THIS IS THE START OF THE GREATEST BULL MARKET RUN EVER!!!!   Its worth millions in real money……  trade it,, watch your margin have excess for the swings. PUSH THE FUCKING RESET BUTTON NOW!!