Mulch the rich!

Just to be clear, the Fed loaned (at 1%int) banks the amount of money that could wipe out all student loans, make college free, feed all Americans, or give every single person 4500 dollars.
The result?
For thirty minutes...
The bump in the yellow circle happened. #EatTheRich


ETA :
Hiya investorbros!
I notice you found my post and want to explain away this injection as good for the economy.
I know they gave out a loan to investors. Guess what...
I don't care! A loan at 1% interest rate on top of the welfare we already give Wallstreet's pigs is still $ allocated for people that aren't average Americans. Consider that this will do nothing. Consider how much balancing has already been done this year and last year alone to save a failing system. Consider a market so fragile and top heavy that a viral scare bankrupts America without loans/bonds to the tune of over 2 trillion (rounded up, with all adjustments) as our deficit grows, and we cut social programs.
We can’t afford ventilators or coronavirus test kits. We can’t afford to provide life saving pharmaceuticals for those in need. We can’t afford basic health care. We can’t afford a minimum wage. We can’t afford to address the climate crisis. We can’t afford eliminating rent.
But we’ve got $1.5 trillion for the stock market today.

Eat shit, with love.

https://www.theguardian.com/…/us-and-european-markets-plung…

https://www.nytimes.com/…/03/12/us/12reuters-usa-fed-repo.h…
But it did show the Fed moving to head off a repeat of the events that locked down financial markets and froze credit a little over a decade ago at the start of what became a deep recession. Its offer of effectively unlimited cash to banks was an effort to plant a flag of sorts and remind that the core function of a central bank is as a lender of last resort - to ensure that whatever other ills the economy may face it won't be a lack of cash.

"This is a massive increase in temporary liquidity provisions and likely much larger than what the market will demand," said Cornerstone Macro analyst Roberto Perli, who described the actions as "for all practical purposes QE," because the Fed would once again add to its stock of longer-term Treasury assets.

https://www.google.com/…/ny-fed-repo-injection-c…/index.html

Wall Street is clamoring for more action from Washington, including potential fiscal stimulus in the form of tax cuts or spending packages. And the Fed is under pressure to provide more help as well.

"The market is looking for the Fed to do more," said Cabana.

Cabana said investors want the Fed to invoke its emergency powers to launch lending programs aimed at helping parts of the economy getting clobbered by the coronavirus pandemic.

"Investors are speculating about whether the Fed could lend to airlines, cruise operators, hotels and restaurants," he said.

http://www.lcurve.org/

Is the L-Curve "good" or "natural" or "inevitable"? What are the alternatives? The economy is a complex system, but it is essentially a human invention. It can be "managed" (or influenced) in many ways. If it is not managed intentionally, then it is managed (or manipulated) by those who hold political and economic power, typically to their own advantage. It is not enough to create a strong economy. It is just as important to ask how the benefits of the economy are distributed through the population. We all participate in generating our nation's wealth. Why do so few benefit so disproportionately? A truly democratic society needs to find ways to manage the economy to benefit the population as a whole. This is not being done.