Treasury Secretary Steven Mnuchin‘s strange announcement late Sunday that there was no reason to worry about bank liquidity is being seen as responsible for extending market loses Monday morning as the DOW plunged more than 400 points less than an hour after opening.
— CNBC Now (@CNBCnow) December 24, 2018
Secretary Mnuchin is being called an “idiot” and “clueless” by award-winning winning economist Paul Krugman.
Dartmouth Economics professor Danny Blanchflower, who is a Bloomberg TV contributing editor, called for Mnuchin to “resign,” saying posting the statement on banks was the “dumbest action” he’s ever seen by a Treasury Secretary. He also called Mnuchin a “moron.”
This is the dumbest action I have ever seen by a TS resign https://t.co/0BF4VrwF5N
— Danny Blanchflower (@D_Blanchflower) December 24, 2018
Dow drops 300 points following its worst week in a decade – CNBC Mnuchin push down now clear we have a moron as a treasury secretary https://t.co/sxRGmOmFu2
— Danny Blanchflower (@D_Blanchflower) December 24, 2018
Mnuchin’s statement on banks caused many to worry about banks, despite there having been no concerns about banks. In short, he created and introduced another reason to worry for markets that are on track to deliver the worst December performance since the Great Depression. Last week alone was the worst week for the DOW in 10 years.
Mnuchin posted his statement from his vacation in Cabo San Lucas, Mexico.
As of this writing the DOW is down 313 points, and very volatile.
image via Wikimedia
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Rand Paul Blames ‘Exorbitant Taxes’ for Police Killing of Eric Garner (Video)
U.S. Senator Rand Paul (R-KY) says the NYPD’s 2014 killing of an unarmed Black man, Eric Garner, by suffocation, was because of “exorbitant taxes.”
Garner had quit his job as a horticulturalist for health reasons, and police were in the process of starting to arrest him for allegedly selling loose cigarettes without a tax stamp on a package.
“In fact the death of Eric Garner, the sad death of Eric Garner being choked to death in New York City, had to do with taxes,” the Kentucky Republican Senator claimed on the floor of the Senate Friday morning.
“And some people are offended by this, oh, ‘it’s police brutality.’ Of course it was. But it was police brutality based on exorbitant taxes that caused this man to be selling cigarettes. loose cigarettes, in order to try to make a living,” Paul said.
Garner wasn’t selling loose cigarettes because taxes were too high. If anything, the lack of access to health care is far more to blame for Garner being forced to quit his job for health reasons and taking to the streets to try to make money selling cigarettes than taxes.
Sen. Rand Paul (R-KY) just now on the Senate floor blamed the police-killing of Eric Garner on high taxes: “It was police brutality based on exorbitant taxes.” pic.twitter.com/MMxc7AQM5A
— The Recount (@therecount) May 28, 2021
WATCH: Trump Jr. Pushes Conspiracy Theory the U.S. Military Is ‘Literally Attacking American Civilians’
Donald Trump, Jr. continued to rile up his supporters with conspiracy theories in new video posted online on Friday.
“Guys, what the hell is going on with our military this last week?” he asked. “It’s been politicized like we’ve never seen before, but look at this — they’re literally attacking American civilians.”
He went on to complain about Fox News personality Tucker Carlson receiving pushback for his attacks on female service members before being 45 years off when estimating when Guam became a U.S. territory as he defended Rep. Marjorie Taylor Greene (R-GA).
GOP Governor Faceplants on CNN: Ending Mask Mandates Is ‘Following the Data’
CNN host Jake Tapper grilled Mississippi Gov. Tate Reeves on Sunday over his decision to lift mask mandates and COVID-19 related restrictions on businesses in his state.
“The governor’s office is getting out of the business of telling people what they can and cannot do,” the Republican governor announced on March 2.
Tapper started off his interview this weekend by telling Reeves that health experts were warning that “people will get sick and die” because of his decision. But Reeves insisted he was just “following the data.”
“We know more people are likely to get sick and die without mask mandates and that is what the science says,” Tapper said. “Why is this a tradeoff you’re willing to make?”
But Reeves insisted his state was in good shape. He also lashed out President Joe Biden, who last week accused Reeves and Texas Gov. Greg Abbott of “Neanderthal thinking” for their decisions to end mask mandates and other measures designed to prevent the spread of COVID-19.
“Let’s talk a little bit more about the data,” Reeves told Tapper. “The fact is that at our peak, we had 1,450 Mississippians in hospital beds because of the virus. Today, that number is below 400. At our peak, we had 360 Mississippians in ICU beds. At this point that number is below 120. The fact is we have seen significantly reduced levels. and, oh, by the way, unlike President Biden who wants to insult Americans and insult Mississippians, I actually trust Mississippians to make good decisions.”
Tapper then asked Reeves if he thought it was a good idea for the residents of his state to continue wearing masks, to which Reeves replied that he did.
“If you have not received the vaccination and you’re going into a large crowd or if you’re going out to dinner, I strongly encourage Mississippians and people across the country to wear a mask because I believe that it does, in fact, reduce the ability of individuals to spread the virus. No question about that,” Reeves said.
“Only about 9% of Mississippi residents have been fully vaccinated – 9%,” Tapper noted. “The governor of neighboring Alabama, Republican Kay Ivey, is extending her mask mandate another month. Why not do the same thing so you can get more of your constituents vaccinated before relaxing your measures? We all want to go back to normal. The fear is if you do this, it will take longer to actually get back to normal.”
“Well, I should start by saying I love and appreciate Governor Ivey over in Alabama,” Reeves replied. “She is a great friend of mine and has been for many, many years. But when you look at the numbers in Mississippi, it doesn’t justify government intervention. It just simply does not. It doesn’t justify statewide mask mandates. You’ve made a very valid point earlier that statewide mask mandates have been in effect in our state over the last six months and we are not going back to that.”
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