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1. Kenny Blankenship (dw2@poa.st)'s status on Saturday, 22-Jul-2023 07:24:20 JST Kenny Blankenship
   The economy is as fucking fake as an aging stripper’s silicone titties.
   
   For those who don’t understand, the short of it is that the only reason stocks are going up is because the Fed is pumping Wall Street with free money
   • SapientPearwood (sapientpearwood@nicecrew.digital)'s status on Wednesday, 26-Jul-2023 22:28:43 JST SapientPearwood

     in reply to
     The fake money propping up the stock market can't last forever either. There's a point where either the fed buys everything and it crashes or they have to pull back and it crashes. No matter what they do it crashes in the end.
     Kenny Blankenship likes this.
   • Bender Molari :nv: :nofatpeople: (evil_bender@nicecrew.digital)'s status on Wednesday, 26-Jul-2023 22:30:33 JST Bender Molari :nv: :nofatpeople:

     in reply to
     What's a reverse repo?
   • Kenny Blankenship (dw2@poa.st)'s status on Wednesday, 26-Jul-2023 22:30:33 JST Kenny Blankenship

     in reply to

     • Bender Molari :nv: :nofatpeople:
     @Evil_Bender When big banks park their money at the Fed overnight, and make something like 5% interest doing it. Over the last few years Wall Street was parking their excess cash there. Now they’re redirecting it to pump up stocks
   • Bender Molari :nv: :nofatpeople: (evil_bender@nicecrew.digital)'s status on Wednesday, 26-Jul-2023 22:58:57 JST Bender Molari :nv: :nofatpeople:

     in reply to
     And this is bad how? Honestly asking, new terminology. Was this the capital the fed was using to artificially prop the markets up previously? If so how does the banks doing it directly change the end outcome?
   • Kenny Blankenship (dw2@poa.st)'s status on Wednesday, 26-Jul-2023 22:58:57 JST Kenny Blankenship

     in reply to

     • Bender Molari :nv: :nofatpeople:
     @Evil_Bender During Covid the Fed was literally buying bonds from firms like BlackRock, who would use the cash to buy stocks. Zero percent interest rates also allowed firms to borrow super cheap in order to do stock buybacks.
     
     Though the method has changed with the draining of the reverse repo, the result is the same - a small cabal of well connected insiders get access to cash to boost their massive stock portfolios while doing fuck all in terms of real work. Meanwhile most of the country lives paycheck to paycheck