Executive order stimulus signed by President. Let the fun begin

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S2007S

Everyone knew they were going to push something through just because they had to, can't keep the markets undecided for too long.
And there it is, let's see how well both parties feel about this, they didn't put the $600 enhanced unemployment back in however $400 is damn good considering. $100 of that enhanced is being paid by the state you are in, however they barely have any money to dish out those extra funds so things will be getting interesting. Aside from that student loans also getting in on the action. Seems like these handouts will last for sometime even though I keep hearing unemployment will drop to 7% by end of 2020 and gdp will be back to norm in the next 12-18 months.


Trump signs executive actions after stimulus talks break down on Capitol Hill
By Jeremy Diamond, Nicky Robertson and Kristen Holmes, CNN



Updated 7:12 PM ET, Sat August 8, 2020


200808170232-02-trump-executive-order-signing-0808-exlarge-169.jpg








https://www.cnn.com/2020/08/08/politics/trump-executive-order-stimulus/index.html
 
S2007S said:
...however $400 is damn good considering. $100 of that enhanced is being paid by the state you are in, however they barely have any money to dish out those extra funds so things will be getting interesting.

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Nope, that's not what I heard in his speech. He said the new number was 75% of the old number of $600. So 75% of the old number would be $450. He said he expected the states to pick up the other 25% if they wanted to, from their own COVID stimulus money the gubmint had given them in the previous bill.

Convoluted!!!
 
wschmidt22 said:
Crap I am short a few ES contracts. This makes a gap down less likely I presume.
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If you have the funds to carry " a few ES contracts" through an overnight close, I wouldn't worry about it, being weeks away from expiration. You may get some heat, you may not.
 
Overnight said:
If you have the funds to carry " a few ES contracts" through an overnight close, I wouldn't worry about it, being weeks away from expiration. You may get some heat, you may not.
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I've gotten a conveyor belt of pies to the face, so a few more won't be that big of a deal. I'm about out of money though, almost six figures down since I started trading futures in March fml.
 
S2007S said:
I keep hearing unemployment will drop to 7% by end of 2020 and gdp will be back to norm in the next 12-18 months.
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A former Bureau of Labor Statistics director analysed yesterday's Employment report on CNBC and it was not pretty. Basically he stated that if every single layed off worker went back to work tomorrow, the unemployment rate would still be above 7% because so many business have gone bankrupt and permanent jobs lost. And it is increasing. No way the economy picks up without a vaccine, and even then, half the population will refuse to take it. Basically the economy is being held together by government benefits/stimulus, which for the first time in history exceeded the non-government GDP in the 2nd quarter.
 
wschmidt22 said:
I've gotten a conveyor belt of pies to the face, so a few more won't be that big of a deal. I'm about out of money though, almost six figures down since I started trading futures in March fml.
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You started trading index futures in March and are down six figures? Well, indeed, overleveraging and playing the short swing on a severe market bottom will do that to you for the next 6 months as the market melts up.

Yikes.
 
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