That escalated fast
Submitted by gjohnsit on Thu, 02/27/2020 - 5:45pm
Highest Stock Market In History, By Far!
— Donald J. Trump (@realDonaldTrump) February 19, 2020
This needs to be noted.
Markets plunged for the sixth consecutive day on Thursday, with coronavirus fears shaving over 1,100 points off the Dow — its biggest in history — and sending the S&P 500 Index swooning to its fastest-ever correction...
The last six days saw the S&P 500 drop by 10% from its all-time high at rate faster than it ever has before, according to Deutsche Bank Securities, shaving trillions off the market’s value.
Countdown to blaming Bernie in 3...2...1...
The Dow Jones Industrial Average plummeted 1,190 points, more than 4%, on Thursday as economic uncertainty over the spread of the novel coronavirus continued to rattle markets.
The losses mark the worst week for the Dow since the financial crash of 2008. The S&P 500 and Nasdaq each also plunged by more than 4%.
Comments
this is what a bubble looks like
very fragile, thin skinned
and filled with explosive gasses
Heh!
Sounds like the body of William the Conqueror before burial in Normandy in 1087.
Gëzuar!!
from a reasonably stable genius.
Blaming Bernie?
That's old news...
Fox Business Blaming Stock Market Drop on Sanders Is a Sign of Things to Come
" In the beginning, the universe was created. This has made a lot of people very angry, and is generally considered to have been a bad move. -- Douglas Adams, The Hitch Hiker's Guide to the Galaxy "
I predicted that 3 weeks ago
called it!
But it IS all Bernie's fault!
When the ultrarich saw the size of Bernie's victory in Nevada, they saw a frightening possibility; that a president could be elected who would stop the billions, nay, trillions, gushing into existence and being lavished on banks by the Fed.
Makes sense to me. Oh, those poor, pitiful banks.
But Dr. Mike Pence is in charge!
Capitalism is saved!......
Gëzuar!!
from a reasonably stable genius.
Unsustainables
An unsustainable market bubble of epic proportions, an unsustainable international pandemic environment, and an unsustainable international trade dependency all contributed to the 2020 market crash. These things have been all waiting to crash. That they are all deflating at the same time is perhaps bad luck, or bad planning. The physics analogy is that these bubbles were inflated really hard, creating a state of high potential energy. This is now being converted to kinetic energy as the ride off the cliff accelerates. The system analogy is that these deflations all accelerate from positive reinforcing feedback loops. Normally you might be able to engineer a recovery, since greed could be satisfied by buying low and then the market recovers. However in this case the two last unsustainables will not allow a recovery. We are headed to a pandemic and the global trade system will be hit really badly as we try to contain the pandemic. We have yet to come to the realization that global economics must be completely sacrificed if we want even a chance to contain the pandemic. We are still thinking in terms of balance, and haven't quite come to the realization that millions of lives are at stake. We will.
Capitalism has always been the rule of the people by the oligarchs. You only have two choices, eliminate them or restrict their power.
There is usually a trade off
Between efficiency and resilience. Guess which we have been promoting for the last 40 years?
We can’t save the world by playing by the rules, because the rules have to be changed.
- Greta Thunberg
Already blaming Bernie
This article appeared on my msn newsfeed today. After the coronavirus, the 2020 election was the second reason for the stock market dropping.
In other words
If the American people make their own political choices in defiance of us, we will hit them where it hurts.
"More for Gore or the son of a drug lord--None of the above, fuck it, cut the cord."
--Zack de la Rocha
"I tell you I'll have nothing to do with the place...The roof of that hall is made of bones."
-- Fiver
Think yesterday the twit in chief
projected his fears by assuring
his followers that the market looked great
And six pence is keeping us safe
like bush telling any who would listen
after 9/11 to go shopping
or obomber handing the keys to the castle
to his wall street buddies
not sure the bs is gonna fly this time
Overvalued
More like half pence
Actually...
...that's the one thing Dubya gets flack for that he DIDN'T deserve to get flack for (and remember who's talking here, "hatred" scarcely even begins to describe my feelings toward him); in a consumption-driven economy, the last thing you want is for people to stop consuming. His telling us to continue spending was not inappropriate.
In the Land of the Blind, the One-Eyed Man is declared mentally ill for describing colors.
Yes Virginia, there is a Global Banking Conspiracy!
Saw a tweet from Trump during Obama's tenure
when the market went down. He said that any time the market crashes by 1,000 points the president should be impeached. Alrighty then let's get this impeachment ball going.
I'll post it if I find it again. Pretty funny.
Was Humpty Dumpty pushed?
For once I agree with Trump
I'm great at multi-tasking. I can waste time, be unproductive, and procrastinate all at the same time.
What a shame the Congressional Democrats
squandered their impeachment effort on fake stuff instead of being patient and waiting for a really good opportunity.
Actually they had valid opportunities
They just like the fake stuff better--no real policy implications.
True -- but
they decided to preserve those opportunities as unimpeachable for a future Democratic POTUS. Bloomie will need them.
Now now
Let's be fair.
Trump said 1,000 points in two days.
Not two days of 1,000 points each.
Totally different things.
Remember
the 59 missiles launched into Syria supposedly in response to a chemical weapons attack? (Which has been proven to be false by several whistle blowers)
Imho, that, was the Democrat's opportunity to strike, as it were, to impeach Cheato man. But American's love it when our presidents blow shit up.
But hey, Trump has been very good to the "establishment democrats", they are all in the top 10% of income earners, which of course we know from the Page & Gillen study, is who the legislation that does get enacted into law, is DESIGNED to benefit.
C99, my refuge from an insane world. #ForceTheVote
Buy up billboard space
That will make a good billboard come the fall.
Thanks!
lol so many things Trump said about Obama he turned around and did. The worst is how he rode Obama's golfing when he's far passed the number of times.
Was Humpty Dumpty pushed?
I like the other fake tweet better
The one about the 'Dow Joans' and being launched into the Sun.
" In the beginning, the universe was created. This has made a lot of people very angry, and is generally considered to have been a bad move. -- Douglas Adams, The Hitch Hiker's Guide to the Galaxy "
Maybe agree twice?
https://www.siliconinvestor.com/readmsg.aspx?msgid=32574185
http
I never knew that the term "Never Again" only pertained to
those born Jewish
"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"
Heard from Margaret Kimberley
Bring on the cannon!!
For this cannon fodder. But the sun doesn't want his azz either. To the MOON Alice!!
Well done is better than well said-Ben Franklin
I don't agree.
Wall Street's caprice should be a basis for no governmental policy or action.
Wall Street should be taking orders from the elected government, not giving orders to it as it is today.
"US govt/military = bad. Russian govt/military = bad. Any politician wanting power = bad. Anyone wielding power = bad." --Shahryar
"All power corrupts absolutely!" -- thanatokephaloides
Is this the thing that sets it off ?
We all know it's coming.
The stock market has been wildly overvalued for some time now;
divorced from reality and propped up by free money from the Fed.
The banks are all insolvent too, the rot hidden by that same Fed money.
The whole "economy" is primed to go kablooey.
Will the virus be the random factor that starts the chain reaction ?
We wanted decent healthcare, a living wage and free college.
The Democrats gave us Biden and war instead.
Paging Nassim Nicholas Taleb...
Coincidentally, I was in NZ last week looking at black swans ( Cygnus atratus) in an Auckland Park. Time to dig up my copy of the I Ching I guess!
We can’t save the world by playing by the rules, because the rules have to be changed.
- Greta Thunberg