Posted on 12/20/2021 4:39:54 AM PST by John W
Stock futures tumbled Monday and global shares dropped amid a surge in Covid-19 cases and as President Joe Biden’s $2 trillion tax-and-spending package looked dead after Sen. Joe Manchin said he wouldn’t support the plan.
Contracts linked to the Dow Jones Industrial Average fell 350 points, or 1%, S&P 500 futures declined 1.1% and Nasdaq futures were down 1.23%. Futures came off earlier lows after Moderna (ticker: MRNA) said a booster dose of its Covid-19 vaccine increased neutralizing antibody levels against the Omicron variant.
The yield on the 10-year Treasury note was at 1.385% after falling Friday to 1.401%, the lowest yield in two weeks.
Dr. Anthony Fauci, chief medical advisor to Biden, said he expects coronavirus cases in the U.S. to reach record highs this winter, driven by the Omicron variant. He said he expects “significant stress” on hospital systems in some regions of the country.
Economists at Goldman Sachs cut their forecast for U.S. growth for 2022, citing Manchin’s rejection of the Biden spending bill.
The Build Back Better bill’s “enactment had already looked likea close call and in light of Manchin’s comments we are adjustingour forecast to remove the assumption that BBB will become law,” Goldman’s economists wrote in a report Sunday. “A failure to pass BBB has negative growth implications.”
(Excerpt) Read more at stocks.apple.com ...
King O’Biden is fixing to make more decrees.
When in danger.
or in doubt.
Run in circles.
Scream and shout.
There are also reports he’s about to surrender to COVID. We shall see.
I am not worried at all about Omicron.
I am deathly afraid of governments response to Omicron.
Everyone knew for weeks that BBB was DOA. But the Statists at Goldman Sachs decided to downgrade the “GDP” estimate as a result, and everyone is freaking out. Like its bad for the government to cancel $2 trillion of deficit spending during runaway inflation! Insane world enters another year.
Futures down triple digits— Dow down 368, Nasdaq down 198.
The BBB bill is simply more Gov. Spending to achieve just about nothing. Short term sugar rush. For the nation’s economic growth the BBB should disappear.
Ditto.
The government response to omicron will determine if the world economy fully collapses.
This will then bring in the Great Age of the 4 Industrial Revolution.
I saw a timeline for events...the first 6 months of 2022 are going to be wild, simply wild globally.
interesting that hospitalizations in SAfrica seem to be rolling over despite case increase.
What do you mean??? Build Back Bullsh#t isn’t working??? How can that be???
“King O’Biden is fixing to make more decrees”
Yep and it’ll be punishment for that abomination of a bill that Manchin killed.
Think about this - I this BBB gets passed and the Gov locks down businesses where in the world would the money come from? This BBB is all pork. I know it is all funny money but you just can keep on printing money forever.
[I am deathly afraid of governments response to Omicron.]
Yeah, like Joe forcing more people out of work.
Byedone should disappear as well.
Build backwards better.
I’m stocked up on ammo and TP, let it rain doomm
It is to convert to the digital currency. Collapse world economies and connect everything/everyone to the internet of bodies.
Madness of the Crowds.......
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.