Prediction for A 20% PLUNGE if no more stimulus.

Here is another article that shows how ending the $600 a week enhanced unemployment benefit would cut spending by $842,000,000,000 ...
Also goes on to say that keeping the enhanced unemployment into 2021 would provide employment to over 5 million people.

Just another reason why congress will vote in for extended benefits into end of 2020


If they let this go markets will easily fall, I believe this out of all the handouts in the next multi trillion dollar stimulus bill is the most important, also unemployment benefits were already extended from 26 to 39 weeks. I believe they extend them to 1 year.



https://www.marketwatch.com/story/c...extra-600-in-unemployment-benefits-2020-06-27
 
Nah, look at the polls / election betting odds.

https://www.c-span.org/video/?196594-1/senator-barack-obama-campaign-announcement

2 weeks later, stocks crashed most since 2003.

And I say this as one of BO's biggest fans.

Biden's plan:

His plan is expected to raise nearly $4 trillion in additional revenue over a decade. According to the Tax Policy Center, "The highest-income 20% of households (who will make about $170,000 or more) would bear nearly 93% of the burden of Biden’s proposed tax increase, and the top 1% nearly three-quarters." Here's a list of changes he wants to make:

  • Raise the top income tax rate back to 39.6% from 37%
  • Tax capital gains and dividends at ordinary rates for those with annual incomes over $1 million
  • Tax unrealized capital gains at death
  • Applying Social Security payroll tax for those earning over $400,000 a year
  • Close stepped-up basis loophole
  • Raise top corporate income tax rate to 28% from 21%
  • Impose 15% minimum tax on book income of large companies (at least $100 million annual net income)
  • Tax profits earned from foreign subsidiaries of U.S. firms 21%

    Covid has got nuttin' on that, and don't think a GOP senate is going to stop him.

    Real money is getting out while the getting is good.

https://twitter.com/x/status/1276551826603728899

What could happen if someone doesn't turn things around, is a rush for exits which will make Trump look even worse. Pretty soon we have a self-fulfilling prophecy. Same thing as happened back in '07
 
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