News Feb 5, 2018 at 12:45 pm


The ONLY reason the Republican establishment has been putting up with Trump's historically gargantuan pile of bullshit is that they've been able to keep making money off of him. He's one recession from being thrown out on his orange ass.
Trump has taken credit for every little positive thing in the economy since he was elected, so he gets the credit/blame for this one too,
Has Dan ever heard of Steve Scalise ?
Seems like a long overdue correction than 'tanking' - but we'll see.
@5 there is no such thing as a "correction." That's a term traders and really stupid free market absolutists use to to sooth dilettantes like you.

There is no intelligence to the market. It doesn't seek some mythical balance.

What we are seeing is the the threat of rising interest rates, the news that Trump is going to borrow another Trillion dollars from China (remember the Wingnut talking point about Obama's evil borrowing from China - hahahaha - no of course you don't), and profit taking because of the new capital gains tax cuts.

This what the mega wealthy were ALWAYS going to do once they got those tax cuts. And why people like me prepared for it.

And yes, it very well could sustain to tank millions of 401K's if that is what the big stock institutional holders need to move money or if there is panic.

So all those moron republican suckers close to retirement could very lose everything and they just voted to gut their other safety nets.

Good job, conservatives.

Will it come back. Sure. But maybe not in time for you mouth breathers to retire.
And yes, before anyone comments, one months worth of gains is nothing and is not indicative of anything and Chumpers taking credit for the stock market was always idiotic propaganda. January's gains were meaningless. But precipitous losses of a few days are not meaningless to most people with 401k's.
@5, since this is the lowest level since Christmas I doubt it's doomsday territory. Though in a week it could be doomsday.

But some cold water: when the economy crashes the people most vulnerable will pay the heaviest price. Something to think about before you start dancing in the streets.
@5 I'd call near 5% a tank, even if it's a totally normally sized tank that happens fairly often (and actually much more frequently than the last two years would suggest).

And in any light, I'll take Dan's muted stock market reaction over what I expected to find, which was a mangled screed from Charles about how this is the big one and the end of post-industrial capitalism as we know it. And it's time to head for the hills, as proven by all the financial terminology he's going to misuse.

Thanks for keeping your commentary observational, Dan. I'm not looking forward to 3PM which is when all my IRA funds will be repriced. Hopefully, we're not sliding into an awful recession, and prices will pick back up in March. February is a seasonally weak month for stock prices.
Equities have only been this expensive twice in history: 1929 and 1999. Gee, what happened immediately after that? No one knows, duuuuuhhhhhh.

Must be those gawdam commies on Wall $treet tryin' another deep fried coup against Prezinazi Rapist again.
In his NY Times Business Day article today, Matt Phillips expressed his belief that "investors assessed whether the global economy was moving away from the slow growth, low inflation, and low interest rates that prevailed over the last decade."

... because, of course, they're a thoughtful and reasoning bunch. Right Matt?
Please ignore this connection.

Either Trump's responsible for the stock market or (pressing the red button aside), not. When you report with unrestrained glee about "Trump's" market going down, you're reinforcing that he's responsible when it goes up.

He is neither.
I am no economist and I certainly don't play one on TV. However, the following quote from a late 2016 article (…) by Ben casselman seems appropriate to the topic:

"My usual approach to writing about the stock market is not to write about the stock market. Markets are important to investors, but despite what it might seem from this week’s banner headlines, the day-to-day moves in the Dow neither drive nor necessarily reflect developments in the economy as a whole. (Longer-run performance is a somewhat different story.)"

Mr. casselman does go on in the article to describe what would make a stock market downturn relevant.
@6/7: Yes, indeed Doc, I suggest you liquidate all your stocks as soon as the market opens tomorrow morning and toss it all into government bonds. Each and every one of them!
Treason? Does that mean we can get arrested for not turning out for one of Donaldo's Nuremburg rallies?
@15 Christ you are an idiot.

If you knew anything at all you'd know long term yield bonds are also down. But you don't. Most of you mouth breathing wingnuts know next to nothing about Wall street let alone how the economy in general actually works. A richness of embarrassments.

@8 and no, dipshit, nobody is dancing in the streets.

This is bad. Not apocalyptic, But bad. But not for me.

Most my investment income is from property. And even the interest rate hikes won't hurt me that much. In fact the predicted rise in inflation and currency deflation is going to be good for people like me. People who own assets.

This profit taking was inevitable and it very well could fuck the average 401k investor. That your wing-nut masters played you rightwing morons for everything you're worth—literally. Which, admittedly, isn't much. And likely will be less tomorrow. (Next, watch them privatize your social security. HAHAHA.)

The point, if you alt-right trolls were remotely capable of understanding one, is that the timing of this nose-dive was a predictable result of your race-to-the-bttom tax cuts for rich people (like me). We all saw it coming. And you and your idiot president didn't (maybe look up what the "yield curve" is, dude).

Will the market return? Of course it will.

But the market isn't for you or any other average idiot Trump voter. You very well may not have the money to buy back what you may lose. Especially if you're over fifty years old.
I was expecting this. In fact, three weeks ago I sent a message to my broker who was asking me what to do with some short term cash that popped out.

Great idea though. Cash strap the us government. Good by social security.
@17: Oh geez..
I've read that tourism to the US is also down.
This man has really gone over the top, calling the Democrats treasonous. Hope the opposition don't go disappearing, like they do in Russia.
The thing about the stock market is that it goes up and down so much that basically anyone who predicts anything can pretend to be right about it when it inevitably happens.

It also allows morons to assign blame/credit at any point in time for gains/losses.

You can see this thinking in much of the posts above where people say dumb things like the gains being meaningless but the loss being extremely meaningful, that the gains where Obama's doing, and the losses are Trump's doing, or that they smartly "saw it coming."

You can say "the market will crash" and the market will soar" and be right about both. It just is a question about how long you want to wait to be "correct," so you can fake brag online about it as people roll their eyes.

Now if you will excuse me, I am going to take advantage of this dip and go buy some stocks.
Headlines this morning say that Hannity is already blaming Obama for this sell-off. They don't even pretend to care about whether what they say is true or not.
@21: Indeed, NASDAQ is already recovering quite nicely. It was never a question of if Wall Street would let off some steam, but when.

@23: And the Dow is already up 190 points since the opening drop.
Knowing the regime and the party backing it up will do anything to stay in power, brace yourself for a new war if and when the economy really tanks.

Keenan C @ 2- making money is not the only reason the GOP will put up with Trump. The Christian fanatic wing of the party does not care about anything, including treason, as long as they can advance their social agenda.

Dr.Zaius @ 17
Is Christ the idiot, raindrop, or both?
@25: I'm the idiot for not seizing on that ambiguity that your sharp eyes caught!
This analysis misses the point. Trump and his GOP voters won't miss a beat if the stock market declines. They'll either blame Obama/Hillary/Dems or they'll ignore it entirely in favor of the next brag/gripe du jour.

This is how they roll. It's not about issues. It's about sticking it to the Dems, who serve as a representation of everyone they hate: women and POC and LGBTQ and non-Christians etc.

Please wait...

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