How the COVID-19 Bailout Gave Wall Street a No-Lose Casino

  • Weekly Giveaway for our active users. N50,000 per Week. Do you want to contribute to this community? We are looking for contribution? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing Nigerian forum!
Status
Not open for further replies.

Maey iyang

Member
May 6, 2020
48
3
8
19
financial analyst for JPMorgan Chase, wrote to clients with good news. Pandemic aside, investors should expect stock prices in S&P 500 companies to return to record numbers some time early next year!

“The S&P 500 should attain previous all-time highs,” Kolanovic wrote, “if the monetary measures are sustained.”

The key part of this phrase was the last bit, “if the monetary measures are sustained.” In countries that did not have a Federal Reserve Bank shooting a bazooka of cash daily at Wall Street, Kolanovic suggested the coronavirus would result in a 30 percent decline in the present value of earnings.

In other words, without intervention by the Federal Reserve, the United States in the coronavirus era would be looking at a Depression-level contraction.

Assuming the Fed bazooka keeps firing, however, a large portion of the investor class is already on a road leading back to champagne and confetti. And that, as Robert Frost would say, has made all the difference.
At least one in three can’t make their rent, millions more can’t afford groceries, and workers in supermarkets, medical clinics, warehouses, and other professions are now in a macabre race to see if they’ll turn blue and die before corporate employers decide to slash their salaries or retirement benefits — which has already happened to front-line caregivers in some cities.

There are no projections of record earnings in the futures of such people. The best case is survival, and the grim reality of diminished economic horizons. Yet for the tiny sliver of people whose fortunes depend not on salaries, tips, and commissions, but upon the prices of financial products like stocks and bonds, the coronavirus response heralds a brave new world.

The $2.3 trillion CARES Act, the Donald Trump-led rescue package signed into law on March 27th, is a radical rethink of American capitalism. It retains all the cruelties of the free market for those who live and work in the real world, but turns the paper economy into a state protectorate, surrounded by a kind of Trumpian Money Wall that is designed to keep the investor class safe from fear of loss.
 
Last edited by a moderator:

curlyrainbow

New Member
Jul 23, 2020
1
0
1
35
Those wall street guys will always be winning and I don't think that they will have losses while the rest of the world is suffering. It is really sad that we are in this situation now and I hope it will pass soon. We are trying to go back to normal, but it is really hard and still dangerous. I have managed to get some income by playing poker online. I was always really good poker player and it has helped me in these hard times. It is risky to do that, but I had to try something.
 
Last edited:

SeanTHing

New Member
Aug 14, 2020
1
0
1
31
London
Yeah, during this pandemic threat, almost everyone has lost a pretty important sum of money, it was pretty hard to predict that something like this could happen, but happily, the economy is starting to restore, and the government says that in almost 1 year we will remake everything as it was before the threat. Nice that people are starting to play sports again.
 
Last edited by a moderator:

JessicaLawrence

New Member
Aug 21, 2020
1
0
1
31
After this pandemic I think all world is need to restore, not only economics. Almost all areas of activity and a lot of people were affected. The casino as well as many other establishments also lost a lot of profit due to the fact that they had to shut down. Following the covid19 lockdown, many businesses had to make the leap into the online or strengthened existing resources to mitigate potential negative effects caused by the pandemic. The situation with the casino is such that a lot of good online casinos benefited, because people, who gambles for a long time, can't live without games. I also have found the most reliable casino for me. You can try it too, if you want to have fun and to earn money.
 
Last edited by a moderator:

TrevorMathis

New Member
Aug 23, 2020
2
0
1
31
England London
Hello everyone! I absolutely agree with the author. This is a really hard time for all of us, but I am sure we will recover and things will get better.
 

Dylott

New Member
Aug 27, 2020
1
0
1
31
Washington Seattle
Hello guys! Unfortunately, this is true. We are going to suffer a long time because of this crisis that literally stopped the world at all for almost 3 months. I hope we will recover as soon as possible even though I understand that this is gonna take some time. A lot of firms stopped their activities and thus a lot of people lost their jobs. This is really a black period for the entire world but I am sure we will get through it.
 

Oberin

New Member
Apr 6, 2021
2
0
1
30
The biggest issue at the moment is that there is no light at the end of the tunnel about when will this pandemic end. Every difficult period in history has been used by some individuals to gain fame, money, and success, as atrocious as it may sound. Some did it openly, most of them did it using the back door. I guess the difference these days is that it's more difficult to hide it from the media and also a lot of the times media is being used against some of these entities to damage their image and reputation. If you're like me, staying mostly at home, playing แทงบอล online, then I guess the news won't bother you too much. If you're involved in the business, well, I wish you good luck!
 
Last edited:
Status
Not open for further replies.