Dow down 10.5% early. Ending the day under 20k in sights. Tired of winning yet?
Dow down 10.5% early. Ending the day under 20k in sights. Tired of winning yet?
"Donald Trump will serve a second term as president of the United States.
It’s over."
Little Thethe Nov 19, 2020.
They've halted trading - Emergency Pause for 15 minutes - 3 times in 6 days. If only the federal government was as pro-active with the Health Departments.
FFF - BB, BB, 2B, HR, 2B, HR, 1B, BB, BB, 1B, BB, BB, HR
Dow Jones started down 11% when Trump press confrence started. Now down 13% and falling. 20k looking likely today.
"Donald Trump will serve a second term as president of the United States.
It’s over."
Little Thethe Nov 19, 2020.
ETTD
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Romney proposed sending a check to adult Americans in the short term to help stimulate the economy or keep it afloat for people unable to work due to COVID. Which got me thinking...
Bush saw the writing on the wall in 2008, and had no choice but to ask Pelosi to save him because he didn't wanna be known for allowing the Great Depression 2.0. While some conservatives were against TARP, it was passed with a decent amount of bipartisan support if memory serves me correct.
Trump has to see the writing on the wall here for the economy, and as much as I think he's an idiot, he couldn't be that stupid to not go along with the plan Romney is proposing or something like it. Even Kudlow said he could get behind some of these stimulus checks.
The question is, the right called SOCIALISM SOCIALISM SOCIALISM when the Dems and Obama tried to pass the stimulus in 2009 to help jumpstart the economy during the Great Recession.
Will Trump live by the sword and die by the sword, or will he cave in and allow SOCIALISM SOCIALISM SOCIALISM to help prevent him from being Hoover 2.0 and almost guarantee him losing re-election.
Forever Fredi
Its Keynesianism...socialism's less sexy younger sisterOriginally Posted by The Chosen One
Ah. So the people that thought it meant economics of Kenya can go against it because Obama.
Forever Fredi
Did they shut down trading for a 4th time just before close to keep it from dropping more than 3,000 pts in one day? Would that make a difference?
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Probably hoping for a Hail Mary miracle that Trump won’t continue to make things worse.
Forever Fredi
I'm sure Trump knows what he's doing as he's a businessman and should know about the economy, right?
FFF - BB, BB, 2B, HR, 2B, HR, 1B, BB, BB, 1B, BB, BB, HR
Kenyaism is the bastard cousin of Keynesianism
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
The most important lesson in all this: when it comes to important matters of public policy think it over carefully and dont simply do what the Italians are doing.
Said with all due respect to my Italian friends.
I've been dumbfounded by how little thought has been given to how economically damaging a path we've embarked upon in the name of flattening the curve. It's not too late to reconsider some of these decisions.
Last edited by nsacpi; 03-22-2020 at 07:39 PM.
This is where quality of laidership comes in. There hasn't been any from chosen one. So the governors have set the course. They have been motivated by a very noble desire to save lives. A competent president would have made sure we would have struck a better balance between not ruining the economy and saving lives. We rushed headlong into this situation without giving ANY thought about how to strike the right balance between these two things.
Runnin (03-22-2020)
If you think the markets care about trumps words for this you are dreaming. Investors are seeking the virus ravage europe and are uncertain how many seed infected have been planted around the US.
No response could have addressed this issue. Social distancing is the only cure for such a contagious virus.
You just said in another thread that the Dow went up because of Trump's speech.
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The Chosen One (03-17-2020)
In terms of economic response, we should be thinking along the scale of WWII. Federal deficit as % of GDP in 1942 was 12%, in 1943 26%, in 1944 21% and in 1945 20%.
20% of 2019 GDP is about $4 trillion.
Number of households is 130 million.
4 trillion divided by 130 million is about $30,000
So there ya have it.
We are at war with a virus.
We should do as we would during wartime to support the economy.
Instead of paying people to build tanks and fighter planes, we can send each household $30,000 to build pseudo-tanks.
Last edited by nsacpi; 03-17-2020 at 11:54 AM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
weso1 (03-19-2020)
Timing is everything. Even for someone like Andrew Yang who was just slightly ahead of his time.
Just to extend the analogy I made with WWII a little. People who were working in factories producing tanks and fighter planes and everything else during World War II didn't have much in the way of consumer goods to spend on. There was rationing. They bought war bonds and deferred consumption.
Similarly, people right now are hunkering down at home and restaurants are closed. They are also deferring consumption. But with the right amount of stimulus you can unleash a strong recovery once life returns to normal. The big risk is that the lost income currently being experienced by restaurant workers (and many others) leads to a downward spiral (the multiplier effect working in reverse) that carries over even after some of these emergency measures are lifted.
Last edited by nsacpi; 03-17-2020 at 12:25 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Uh oh. Mnuchin to be fired or resign by the end of the week. You aren't gonna make the markets happy and Donald happy by saying things like this.
Forever Fredi
The market is unimpressed with T's efforts to support it. At this rate he'll be eating into Obama's gains before long.
While some of the Fed's moves will help to improve market functioning, the rate cuts themselves amount to a grand — but empty — gesture that the markets have already judged to be pointless.
In less than two weeks, the Fed has thrown away the rate hikes that took it more than two years to painfully push through from 2015 to 2018. In a few months, when the economy is struggling to recover from the pandemic and could badly use a boost from the Fed, it will have no more rate cuts to offer. Having stepped on the gas on the road to Japanification, the Fed has now floored the pedal. By exhausting its rate-cut ammunition, the Fed has doomed itself to irrelevance, a predicament it will stay in for years to come.
Last edited by Runnin; 03-18-2020 at 12:14 PM.
FFF - BB, BB, 2B, HR, 2B, HR, 1B, BB, BB, 1B, BB, BB, HR
https://www.nbcnews.com/politics/con...posal-n1163016
Extent Socialism
The two rounds of direct payments to taxpayers, each a total of $250 billion, would be sent on April 6 and then the second round would be sent on May 18, according to the proposal. They would be tiered payments, with the amounts based on income level and family size, the proposal says. Both payments would be for the same amount.
Forever Fredi
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