News Story of the Day: Federal Reserve Chair Jerome Powell said he would begin expanding the balance sheet and by god that is what he is going to do.
The central bank confirmed that it would start purchasing $60 billion per month in Treasury bills to guarantee “ample reserves” in the financial system, a technical move designed to remedy the recent calamities in short-term money markets. The Fed will also continue injecting money into overnight lending markets for another three months.
Overall, its bond acquisition efforts are expected to last until the second quarter of next year. The
Whatever you do, do not call it quantitative easing!
Chart of the Day: So, what is the biggest driver of the Dow Jones Industrial Average? MarketWatch may have the answer in this chart:
Illustration of the Day: Hillary Clinton is so delusional that she believes she defeated President Donald Trump in 2020. She thinks she is president, and her supporters probably think so too. We’re afraid we’ve got some bad news:
Quote of the Day: Great excerpt from Richard Epstein for the Hoover Institute on Greta Thunberg and climate hysteria:
It is critical to be aware that all of these gloomy predictions posit a world in which, according to the Environmental Defense Fund, climate change “causes devastating impacts: extreme weather events like flooding and deadly storms; the spread of disease; sea-level rise; increased food insecurity; and other disasters.”
But these are predictions of bad times to come. They are not descriptions of the current situation in which the incidence of extreme weather events like drought is falling, sea-level rise is slowing, agricultural prices are low, and food is abundant, not scarce. The professional skeptics are right: there is today no compelling evidence of an impending climate emergency.
Tweet of the Day: Many of the diehard Trump supporters are, what Robert Wenzel likes to say, urban primitives. This is an example of mixing urban primitives with fascist tendencies. Sad!
I remember thousands of Obama supporters wearing “Hope” or “Yes We Can” hats after his 2008 election
What I DO NOT remember is conservatives rioting in the streets, stealing them, and burning them
This is domestic terrorism
This is the left pic.twitter.com/MAIgoiYH4Q
— Charlie Kirk (@charliekirk11) October 11, 2019
Video of the Day: Everyone and everything should be tax-exempted, including religious institutions. But Beto thinks that religious institutions should lose their tax-exempt status if they oppose same-sex marriage. Don Lemon should have asked him a follow-up: Does this include mosques? That would have been quite entertaining: If he says yes, then he is Islamophobia. If he says no, then he is being hypocritical. But this is CNN: There is no credible journalism,
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