Wall St Flies High on Additional Stimulus- They're In the Money! Revisiting 1974.

Stocks rallied on Thursday to close out their best week since 1974

• Stocks jumped on Thursday after the Federal Reserve announced that it would pump another $2.3 trillion into the economy, in a bid to provide relief to households and businesses as well as state and local governments. 
  

  *April 10/20: Was questioning why 1974 was significant? And then it dawned on me!

  Petrodollar recycling

  Johan Witteveen, the Managing Director of the IMF, said in 1974: "The international monetary system is facing its most difficult period since the 1930s." The IMF administered a new lending program during 1974–1976 called the Oil Facility. 

Petro dollar recycling was discussed in the previously : The Oil Price War Won’t Dethrone The Dollar

 The latest, Yes, that's another 2.3 Trillion!The Fed Will Pump Another $2.3 Trillion Into The Economy

Key background: The Fed has already made extreme interventions into the economy: It’s cut rates to nearly zero, stepped in to backstop a $350 billion emergency small business loan program, and purchased billions of dollars’ worth of government debt and mortgage-backed securities. In the three weeks since President Trump signed the historic CARES Act into law, as more than 16 million Americans have filed for temporary unemployment benefits, it’s clear that the $2 trillion-plus emergency rescue spending plan won’t be enough to prop up the economy 

Phase 4 Stimulus Bill

Less than three weeks after President Trump signed the historic CARES Act into law, it’s clear that the $2 trillion-plus emergency rescue spending plan won’t be enough to prop up the economy

So another 2.3 Trillion might do the trick?

• The Fed’s timely stimulus helped offset another dismal weekly jobless claims report, in which 6.6 million people filed for first-time unemployment last week.

• Treasury Secretary Steven Mnuchin told CNBC on Thursday that he believes the U.S. economy could get back up and running next month.

From earlier today:

• Perspectives on the Pandemic | Dr John Ioannidis of Stanford University

• It's Snowing. Fluffly flakes and all

Being locked down provides more time to dig into the news- and find the real stuff