Trump Loans Fed Chief Powell Some of his Steroids; He Immediately Sends Another $10 Trillion to Wall Street

Funny story written by Jaki Treehorn

Wednesday, 14 October 2020

image for Trump Loans Fed Chief Powell Some of his Steroids; He Immediately Sends Another $10 Trillion to Wall Street
President Trump

Wall Street, New York - President Donald Trump, currently on tour throughout the United States after beating COVID-19 said he felt "so powerful" on Monday, in Florida. Trump was given steroids to treat his COVID-19 by doctors at Walter Reed Hospital.

Trump decided that Fed Chief Powell was not creating free money for Wall Street fast enough, however, so, before he left Washington D.C., he met with the Federal Reserve Chairman and gave him some of the steroids, and told him to do more to deal with the pandemic.

The next morning, the Fed Chief told associates he also felt "very powerful", and moved to create another 10 trillion dollars of instant money which the Central Bank, through its regular operations, moved to the balance sheets of Wall Street banks. The banks immediately loaned the money, which they can borrow currently at almost zero percent, to cash-strapped consumers, small businesses and others at 5% rates and higher, so they could, in turn, buy goods and services at much higher prices than when the pandemic began. This method, which has enriched Wall Street and wealthy stockholders at the expense of everyone else, is called Trickle Down. It was also used in 2008, when bankers were bonused huge sums so they could fix the financial crisis they had created.

Trump, pleased that Wall Street and his wealthy friends would continue to see their net worth rise, then turned to his primary duties of watching Fox News, Tweeting, playing golf and speaking at COVID-19 superspreader rallies.

The funny story above is a satire or parody. It is entirely fictitious.

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