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Treasury Secretary Mnuchin sides with Tesla in dispute with California over shutdown
Treasury Secretary Steven Mnuchin on Monday urged states to begin to reopen their economies, seeming to single out California and side with Telsa over dispute about the automakers closed manufacturing plant. Mnuchin warned that Tesla TSLA, 0.00% co-founder Elon Musk might move if he can't restart production soon."They (California) need to solve those health issues so he can open quickly, safely or they're gonna find he's moving production to a different state," Mnuchin said in an interview on CNBC. Mnunchin also said the White House wants to wait a few weeks to gauge the effect of $3 trillion in federal aid to support the economy during the coronavirus pandemic before approving more money. He repeated a Republican view that states should not be bailed out for financial problems such as underfunded pensions that existed before the crisis. With interest rates so low, he said, states should be able to borrow most of what they need.
https://www.marketwatch.com/story/treasury-secretary-mnuchin-sides-with-tesla-in-dispute-with-california-over-shutdown-2020-05-11
VVLL857 P-8 out of NAS Jax to Knoxville over Mc-Ghee/Tyson Airport (several C-560's have made ground stops here in the last few weeks) with a circle just west of Columbia, SC and now sw just east of Augusta, GA
VVLL836 P-8 from Robins AFB sw
_169543 P-8 from NAS Jax off Space Coast
PAT008 C-560 from JBA with a fly-over at Roanoke Regional Airport and continues on nw
SHAFT69 Learjet C-21A from Amman, Jordan-Civil Airport on approach to Doha, Qatar-Al Udeid Air Base. This AC started from Kuwait-Ali Al Salem Airbase earlier
U.S. has no need to buy back debt, will take advantage of low interest rates: Mnuchin
WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Monday he sees no need for the country to buy back debt and that he plans to borrow money long-term to lock in low interest rates, as the coronavirus pandemic rocks the economy.
“One of the reasons I do feel comfortable with us spending all this money is because interest rates are very low. And we’re taking advantage of long-term rates,” Mnuchin said in a CNBC interview, adding that the United States plans to refinance all its debt to lock in low rates. “Because of the amount of debt we have in short-term that does roll off and the amount of debt we’re using for these deficits, I think we have tremendous opportunities without needing to buy back debt,” Mnuchin said.
The Treasury last week announced a record-busting plan to borrow $3 trillion during the April-June quarter to fund coronavirus economic rescue programs and cover a massive drop in revenues. It launched a new 20-year bond to extend maturities..
Mnuchin told CNBC the Treasury had looked at longer maturities but found that demand for the 20-year bond was stronger. The Treasury chief said it was unclear whether May unemployment numbers could be worse than the 14.7% recorded in April, but struck an optimistic tone about businesses reopening over the summer.
Predictions based on normal economic models are difficult because the jobs data is a function of a “closing of the economy and an opening of the economy,” Mnuchin said. “We’re very sympathetic to all the workers who this is impacting, if the numbers are worse next month, you know, we understand that,” Mnuchin said. “But I think the numbers are going to be getting better as we go into the summer and we reopen the economy.”
https://www.reuters.com/article/us-health-coronavirus-usa-treasury/u-s-has-no-need-to-buy-back-debt-will-take-advantage-of-low-interest-rates-mnuchin-idUSKBN22N1XU
no pf's or financial stuff
not like that shit don't habben-but apparently it doesn't