11 year old bull market is on the verge of death. Might happen today. At the time of this post the Dow is 130 points away.
Banks miss Q1 earnings because they are setting aside Billions for loan defaults. Market way up.
- Thread starter fried-chicken
- Start date
In my selfish way this is awesome! Going to jump back in the market in 3 months. Pulled out my individual stocks about a month ago. My IRA and 401k are still invested.
All trumpets don’t care because they pulled out of the market at the exact high point. Actually this is incredibly lucky this thing that is happening because we can get cheap stocks. *
I'm not a trumpet and I moved my 401k out of stocks as soon as we got the virus. I did it early in the day whatever day the Dow closed at 27000. It shouldn't have been hard to see what was coming and it shouldn't surprise you to hear that it's not getting better until the virus starts to slow down. You aren't at risk of missing the rebound if you move out of stocks because we have much further to go before this gets better.
Usually my timing sucks. I was a week late so I didn't get out at the exact high but did get before this mess. Even posted it here when I sold. My 401k and IRA are still in play and taking a whack. Not worried with long term stuff
The last two bull markets have crashed and burned under incompetent Republican Administrations. Fortunately, Biden was at Obama's side when he stepped in to clean up the economic mess GWB left so that experience should help in our recovery next year.
Yeah...bi
Yeah Biden that doesn't know what he is running for, complete dementia, etc is going to fix the Corona. Gotcha...lol
Yeah Biden that doesn't know what he is running for, complete dementia, etc is going to fix the Corona. Gotcha...lol
Meanwhile when the markets were going crazy up it wasn't Trump. Now that Trump invented the Corona virus the downside is on him. Got it.
You're left with name calling because you've literally got nothing. I've owned you tonight.
If I were you, I'd STFU and not dig a deeper hole for yourself.
Jesus Christ is there a bigger piece of shit than 85 on this board? Literally nothing but disgusting personal attacks. Might be time to put him on ignore.
You’re a lunatic who has unleashed some of the most insane bullshit on this board. Piss off
![[roll]](http://l.yimg.com/j/assets/img/emoticons/classic/roll.r191677.gif "roll [roll]")
Trump has continually downplayed the virus and his administration has been woefully inadequate in preparing people by providing testing. But by all means please continue to misrepresent the criticism as if that somehow scores you points.
Last night Trump finally embraced reality and actually called it a pandemic, however, he was still talking containment with his travel bans. That’s like talking about locking the doors when the killer is already in the house. One of the keys to adequately addressing this going forward is knowing where we stand with infections. But we don’t have a clue because our testing to date has been minimal—9,000 total tests to date.
You keep repeating lies as facts. There are 9,000 test? OK- why aren't you whining hysterically about local hospitals and doctors then? There are in excess of 2M kits now in circulation per Dr Fauchi 3 days ago. That number is probably more like 3M.
Are people not getting tested becuase meanie Trump isn't doing his job, or are they not getting tested because doctors and hospitals are choosing not to for some reason? Reminder: the White House cannot compel doctors into medical decisions.
I look forward to your next unhinged post.
Not to diminish the gravity of the situation, but the dow shouldn't have broke 18000 in the first place. The financial sector has been out of whack since the stimulus, losing any reasonable ties to the rest of the economy. What sucks is that a very small portion of the populace will actually have benefitted from this inflation by the time it's all said and done.
This is exactly the point. A return to Dow 18K isn't outside the realm of possibility now, with all of pumps still turned on full blast.
Will the 1% receive another bailout or will the mountains of cash they are sitting on finally start to trickle down? It is an either/or proposition.
I can almost guarantee you that there will be another bailout. The financial sector is (was) worth 31 trillion bucks and over 20% of all tax receipts. They cant let it collapse. If they do, I'll be done with Trump completely. We cant just keep propping up this bubble.
We literally cannot afford to bail out without ever repaying. We can't repay without tax increases when times are good. We do not have the ability to sustain stimulus forever. Remember about 2 months ago when I detailed why I voted in the republican primary. Welcome to my nightmare.
Exactly. Everyone intelligent was worried about running a trillion dollars deficit while we were in a booking economy. Now what are we going to do? A two trillion dollars deficit? Where does it end? Insanity.
Tax increases would have made a fractional impact. The best way to have addressed it was with higher interest rates but we missed our window so the only option left is to let the market destroy it's own inflated value. We needed to get about 2 trillion dollars out of the market to avoid this bubble. Washington was more concerned with propping it up than deal with the reality of the situation and I pray they dont try to do it again, but they will.
You already saw the response. They are worried about financial recovery plans before we even hit the floor. The response right now needs to be preparing for the floodgates of sick. This will increase 10x each week until our system is overwhelmed and the president is talking about low interest SBA loans. This man is not the right leader for this problem.
He's following the Keynesian model. The problem with the stock market doesnt and hasn't had anything to do with fiscal policies and his proposals wont fix it. Unfortunately, this is the result of insane monetary policies that started in 2001 and accelerated in 2008 to the point of insanity. The experiment failed and I'm just hoping they don't double down.
It's the 'fake' news media then.*
It was the overall testing number being reported on the nightly news programs last night.
Stop that. This isn't Keynesian. This is Trump trying to allocate limited resources to protect the stock market because he is worried about reelection. He proposed payroll tax cuts that go through election day. Specifically election day. Think about that. What the **** response is it to a pandemic to time the recovery efforts around your reelection. If we need it we need it but election day has nothing to do with it.
Regardless of the motivation, which I find questionable, this is absolutely 100% following the Keynesian model. That's not a bad thing because I think theres a place for it. They are trying to address a financial problem with fiscal policy. The issue is that the problem was caused by monetary policy so they're basically out of bullets. This needed to happen, period. It just sucks that it took a pandemic to get there
Jesus Christ. I asked it rhetorically to make a point that you again cut off from responding to. You are utterly insufferable.
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