I've just noticed a disturbing pattern on days of grim economic news

[NewsCenter28]

At first, Powell was sent out by the Presidential Toad to announce a new goodie from the Fed to offset grim weekly jobless claims data or a "Fed goodie cookie" announced on days of steep stock market declines.

Today, on the day of a major 1st quarter GDP contraction being announced (5% and the first since 2009), we are told "GOOD NEWS. THERE IS A MIRACULOUS CORONAVIRUS DRUG BEING RUSHED TO THE MARKET BY THE FDA!"

Time and time again. So, rather than steep stock market declines, GDP declines, or historic unemployment, we all talk about what the administration wants us to talk about.

I call distraction. I say don't fall for it. But you for sure be your own judge!

[SoonerPride]

1. It's not a conincidence. You noticed that too, huh?

[NewsCenter28]

2. I did Sooner! For sure!

Also, it fits his pattern. Say something obscenely racist on days of bad Mueller/Russia news to deflect attention away from that, and it goes on and on.

[gibraltar72]

3. Look over there.

[Newest Reality]

4. Oh, yeah.

I noticed.

Deflection, distraction, delusion, projection. I call BINGO!

The stock market needs arousal, I am just amazed that they get excited by something like that while the rest of the data looks rather bad right now. Oh, I guess that happens after a divorce.

[doc03]

7. That's their MO. There is no reason I can see why the

market is doing so good with all the bad news unless Wall Street is raking in all the stimulus money.

[Newest Reality]

10. Here too.

I am not economist, but at my age I have seen the market in action compared to events, so you do get a feel for it.

We get $1,200 which hardly covers a month rent, they get a freaking joy ride that they can celebrate.

That mask needs to come off. Screw Main St., (us) and take good care of Wall St.(them).

ENOUGH! The parasite is killing the host in more ways then one now, before it just sucked our blood to a point, not its draining us dry.

[gab13by13]

20. Taxpayers (borrowed money)

the Fed and central banks pumped trillions of dollars into Wall Street. It seems to me that as long as these banks and corporations keep getting bailed out they don't care about consumer spending.

We shall see how far supply side economics carries them when consumer confidence and consumer spending keeps dropping.
There are going to be around 1 million small businesses go bankrupt because Trump bailed out Big business. I knew it would be a problem to give Trump all of that money with no oversight. Shit, they gave the LA Lakers 5 million dollars and the Lakers qualified for a small business loan because they have fewer than 500 employees (400) and 300 temp workers. The Lakers are worth 4 billion dollars.
Yeah they gave the money back and that's the only way we know they got it but how many other Big businesses didn't return the money?

[MyOwnPeace]

15. Yeah, arousal after divorce..........

is certainly something to celebrate - something with which IQ45 should have some experience........

[Newest Reality]

17. Heheh!

[WhiteTara]

5. This is one of the Kremlin's favorite mind control gambits

called reflexive control. This particular example is of Maskorovka - directing your attention from one object to another.

You are good at recognizing spy craft it seems.

[BComplex]

28. That's been trump's MO the whole time.

Actually, a lot of republicans do that.

[WhiteTara]

29. Putin (master spy) is his

handler and tells him what to do. He's also been involved with the Russian Mafia for almost 40 years.

[BComplex]

30. That's true, and you hardly have anyone, except Nancy Pelosi, saying it on national tv.

He's as close to putin as it gets.

[wishstar]

6. When we reached the 50,000 death toll, Trump distracted with his nutso speculative cure nonsense

keeping the focus on him for a couple of days instead of on the horrible death toll and continuing lack of testing capability.

Today just a week later we have already reached the 60,000 milestone and all of the happy talk is about reopening by mid-May and touting preliminary slightly positive indicators from an unapproved experimental drug for which the earlier results did not show a significant improvement. Fauci's latest estimate of 74,000 deaths by August 4 seems overly optimistic considering the current upward trajectory along with easing of distancing in many places.

[doc03]

8. It's 1984 we have alternative facts, bad is good,

fake news, up is down

[Proud Liberal Dem]

9. Notice too

that they're practically declaring "Mission Accomplished" on COVID-19? WH Giftstore is apparently selling commemorative coins to celebrate!

https://www.thedailybeast.com/white-house-gift-shop-sells-covid-19-commemorative-coins

[Newest Reality]

11. And...

While experts are pointing to the reality that we may not see the actual numbers on this for a while as things get sorted out.

First, the usual death rates for the time of COVID-19 are much higher generally speaking, (reported cases considered) and the bag and tag of those deaths is an issue if they were not tested.

It looks like the death rates could potentially be tens of thousands higher and we are still in the middle of this.

Mission Accomplished? What, stochastic genocide?

[Proud Liberal Dem]

19. Exactly

[Hoyt]

12. I'm sure investors were expecting steep contraction in GDP, and that was baked in

weeks ago.

Although, I’m not sure investors have fully accepted how bad it could be long-term.

Congress and the Fed have thrown a lot at keeping things going with respect to enhanced unemployment benefits, coverage for CV19 related illnesses, mortgage and other debt relief, etc., to keep people from panicking, etc. How long all that will work is a big question.

Things are starting to look up in many respects. But there is a long way to go and plenty of room for things to get worse with infection flare ups.

[uponit7771]

25. Not a 5% retraction, that was NOT baked in ... the top was 4.5 on the bad end. The Remd data was

... well timed and it Lancet is throwing cold water on it now.

Lancet Study looked underpopulated but the data is valid and they post severity level.

This was manipulated today, no doubt

Things are starting to look up in many respects.

I don't see it, Germany's relative Ro went up from .7 to 1.0 after they lower SD measures Merkel says 1.1 they tighten back up.

https://www.marketwatch.com/story/coronavirus-update-german-infection-rate-ticks-higher-after-reopening-moves-offers-lesson-to-us-governors-2020-04-28

Unless we have a quick turn around "want a test get a test" campaign I don't see a light at the end of this tunnel

[mathematic]

13. More than one thing can happen per day.

If grim economic news is being reported every day then it is impossible to report good news on a day where there is no bad economic news.

Do you think we should wait for the first day with no bad economic news to report on good news? When do you think that day might be?

[Squinch]

22. Sure. They don't use distraction at all. They're a lovely bunch of guys and would never do that.

[mathematic]

26. Obviously, everything is a distraction or nothing is.

What a keen analysis. It's literally impossible for a good thing to happen on the same day as a bad thing and since bad things happen every day no good things ever happen. You have convinced me.

[NoRoadUntravelled]

14. Yup. The announcement that FDA will allow emergency use of Remdesivir is a ploy to

boost the stock market and here's why I believe that is so. Link below.

According to Dr. Fauci the drug could make a difference in speeding the recovery of some patients with the virus. It's not a life saving drug, just a reduce the recovery time maybe for some people drug.

A preliminary study was done in China but was inconclusive due to a lack of patients, which makes no sense.

According to the New York Times "Another study, conducted in China and published in the Lancet, questioned the value of the drug for treatment of severely ill patients but left open the possibility that it might be useful for others. The research was incomplete, however, because not enough participants could be enrolled."

"The study of remdesivir published in the Lancet found no benefit to the drug, compared to placebo.
“Unfortunately, our trial found that while safe and adequately tolerated, remdesivir did not provide significant benefits over placebo,” said the lead investigator of the new study, Dr. Bin Cao of the China-Japan Friendship Hospital and Capital Medical University in Beijing."

And further, "Remdesivir is not yet licensed or approved in the United States or anywhere in the world “and has not yet been demonstrated to be safe or effective for the treatment of Covid-19,” according to Gilead.

This isn't really enough information to determine much of anything about this drug so far but it is enough, apparently, to rally the stock market and perhaps push stock purchases for Gilead Sciences, Inc.
Their stock is up 5.68% on today's not so exciting news.

tRump is great at manipulating the news cycle as well as the stock market whether in person or via Tweet.
I wouldn't get too hopeful.

https://www.msn.com/en-us/news/us/live-updates-fda-plans-to-announce-emergency-use-of-coronavirus-drug/ar-BB13nS85?ocid=spartandhp

[yaesu]

16. The Fed has pumped over 6 trillion dollars into the market this month buying stocks and bonds

plus the market manipulation news every day just to keep the banksters happy while we the people die in the shaft.

[vapor2]

18. EXACTLY

distract, deny, deflect

[jimlup]

21. The market reaction is extremely interesting

I think that it was reacting to the News of the Remdesivir. I personally believe it was over reacting to the good news and under playing the grim news.

Nevertheless, the market is a leading indicator so the economic news of today was already priced in. Again, I think that the market has not weighted the economic situation correctly but who's to say? I fucking hope that they are right and that we are pulling out of this fucking catastrophe.

[uponit7771]

24. +1, It was, that was the only good news today and Lancet said Remd isn't effective among bad cases

[uponit7771]

23. ***EXACTLY !! *** 20 Seconds after horrible GDP news there's a partial study of Rem comes out

[MoonlitKnight]

27. We may be witnessing the biggest pump and dump in history

Question is when does the dump happen.