It's the wing nut mantra: socialism for the rich, capitalism for the poor.

I hate Trump as much as you do, but he seems to have read the markets and pivoted. Wall Street was worried that the healthcare bill would derail his tax cutting agenda, and the GOP seems more than willing to let healthcare go for now.

I don't see support for your suggestion that markets are in turmoil either. They were overbought, but if you were watching the S&P Friday and today there still seems like a pretty hard support line drawn at around 2330.

You can remain skeptical that Trump can knit together tax reform in a smooth and business friendly way. He's going to have to start dealing with some pretty big industries who don't want to be made into losers by his boarder adjustment tax idea, and if the agenda starts to fray the market will go lower. If, however, he forgets all his promises about bringing jobs back and what not and sticks to a pretty easy lift of slashing corporate tax rates at the expense of the deficit (because tax cuts pay for themselves, don't'cha'know!) markets will keep going up.

Today the pivot turned the a .7% downward movement at the opening into a mere .1% by the close. People will keep buying as long as they think the tax cuts will come through. All Trump as to do to keep the "Trump bump" rolling is something we know he's very good at, betraying all of his supporters and breaking all of his campaign promises.

FYI, I think we liberals need to end our obsession with corporate income taxes. They aren't progressive. They're flat taxes. Consider, every dollar company X earns is earmarked for a shareholder. The corporate income tax taxes the dollar at the same rate regardless of who owns it. We should be all about replacing the corporate income tax with property taxes, carbon taxes, and PERSONAL income taxes...especially in state who immorally don't have them.

The Market needs some windbag gas to be let out; the rapid Trump Boom was way too much, way too fast, and leaking some air out of the bloat, little by little, is healthy.

I completely agree with LukeJosef, but I'm going to have to put out a contract hit on him as he's hitting me where I live :). Okay not really, but large houses and cars are fueled by low income and property taxes, not to mention mortgage interest deductions that reward going big. All this and we're hamstringing corporations or forcing overseas taxation gymnastics. (I golf with some of these corporate tax guys and yes, I'm not a typical Stranger reader.) I went 50% cash 4 weeks ago and have been disappointed by the lack of market panic thus far. There is always tomorrow.

No, it is not crashing but things are overrated and it's natural to adjust.

I think a little more steam escaping is a good thing.

I bet a salmon soufflé that Charles didn't bother to check the markets today before he posted this, they all closed up in light trading.

Capitalism is failing

Capitalism has always been failing

Capitalism will still be failing long after you are dead

There is no need to think at all about any economic news, once you have firmly convinced yourself that capitalism is failing. All evidence is evidence of Capitalism's imminent failure. All news is bad news for Capitalism. Capitalism will die very soon now, just you wait and see.

@7: Why would it fail given that socialism helps to drive it?

@8:

I believe you may have missed the sarcasm dripping off @7's comment like hot fudge off a sundae...

Everyone grew up in a communist household.

And an any-gender bathroom.

OMG 150 points in a single day! Let's hope nobody knows how to calculate percentages so they'll believe you when you characterize that as a "crash"! You Mudede'd the fuck out of that one.

Oh Charles,

You must be new, markets go up and down. Shut your pie hole.

One thing the American and Russian media have in common is the blackout surrounding mass protests taking place across Russia against Dmitry Medvediev. Millions of people are protesting in every major city against the Prime Minister. The organizer, Alexey Novalny, is a candidate against Putin in the upcoming elections.

Rather than demonize the entire country, as the Stranger (Here's to you, Dan), why don't you wrote an article about the Russian people who are trying to liberate themselves from Putin? You know, this makes more sense to me than a Clintonesque, "Wikileaks is in a conspiracy with the Green Party and Russian hackers to expose a risotto recipe to the world!! Thats why we lost! Its not because we underhandedly screwed eh Sanders campaign, no! Its because them big bad Russians are coming to get us! Russians are eeeevviiiiiilllllllllll!!!!!"

*ahem*

Meanwhile on the streets of Moscow, thousands of people turned out on a cold day for a silent clockwise march around the city, bearing placards calling for the government to resign. This protest has nothing to do with electing Trump, which is probably why you're ignoring it. It's a protest against corruption.

Isn't it funny how when the market drops a tick it is all directly Trump's fault, but when they close at record high, it obviously has nothing to do with Trump, and is just normal fluctuation?

Such blatant fallacious and self-serving "thinking."

But then again, anyone who has spent any time at all here knows that Charles Mudede knows absolutely nothing about economics, or even the most basic of market forces.

@13 but colluding with Russian oligarchs is so much worse than colluding with Western oligarchs. Rosneft bad, Exxon Mobil Goldman Sachs good.

"irrational exuberance".

Every market dip heralds a crisis of capitalism.

Just like every snowstorm disproves global warming.

Why does every Mudede post bring out the dipshits in the comments?

The stock markets are worse than football for armchair economists.

Today is a good case in point.

@4, I went way more than 50% cash because I was due for a major restructure to lower GER anyway. And now I'm in something of a pickle. If we don't get a major confidence eroding break through soon I'm stuck holding a lot of dry powder till the next major crash.

"Investors ... pull money out of the market" is not a thing. For anyone who exchanges a security for money, there is someone else who exchanges the same amount of money for the security. All securities and all money are held by someone at all times.