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Bank of America today forecast the worst global GDP growth since the recession. Goldman said earning growth will be zero for US companies in 2020. Not looking too good.
We were nearly there before. The tiny GDP growth - if you took out the extra free trillion in debt and deficit and the lower debt service (of Americans and the government) due to interest rate cuts, you'd have been at about zero.
What drives me a little crazy is the parroting of "greatest economy ever". It's quite clear to anyone who has been looking that we are far from that. Car sales, car repos, housing, manufacturing, etc. etc.
It appears that both the media and trump followers (and many others) just repeat what they hear instead of doing basic math. All in the all, the markets have gone nowhere since the day Trump started his economic policies (tax reform, trade wars).
I think the press conference was a success and I'm interested to see if the market reacts tomorrow.
Trump is right. We have the best people in the world/most resources to deal with something like this. It's not about politics--I don't care what president is up there that says that, they would be right.
I'm personally not worried about this, I have doctor family and nurse friends assuring me we're good.
We will see that answer at closing belling today. Nothing I heard made me felt any better today, than I felt yesterday.
Are we back at where the OP said things were "great" yet? Looks like maybe we are at 3% a year compounded now since "tax reform".......
I am now 100% certain that, no matter what, Trump followers will not believe in reason. As long as they see children in cages and hear about new fence being installed they will pretend that their portfolios are booming.
Are we back at where the OP said things were "great" yet? Looks like maybe we are at 3% a year compounded now since "tax reform".......
I am now 100% certain that, no matter what, Trump followers will not believe in reason. As long as they see children in cages and hear about new fence being installed they will pretend that their portfolios are booming.
Most Americans don't have the financial wherewithal to withstand an unexpected $400 emergency. They have no real idea whether the economy is "strong" or "not strong" because their economic understanding (understandably) doesn't extend beyond their efforts to string together enough money to pay next month's rent. As such, they will believe it when the President tells them that this is the "greatest economy ever" regardless of whether that claim is rooted in truth.
Expect the DOWJ to keep going down. COVID-19 has done real damage to the world economy and will continue doing real damage for the rest of this year.
I would not be surprise if this leads to a world-wide depression. Euro-zone and China were already showing weakness before COVID-19 emerged. The USA was doing fine but we're not an island and we need Chinese, European, and Asian consumers to boost our multinational corporations.
If the DOWJ falls below 20,000 by years end, I will not be surprised.
Expect the DOWJ to keep going down. COVID-19 has done real damage to the world economy and will continue doing real damage for the rest of this year.
I would not be surprise if this leads to a world-wide depression. Euro-zone and China were already showing weakness before COVID-19 emerged. The USA was doing fine
I don't understand how you can consider a 2% GDP growth- most of which is increased health care costs, increased Deficit, lower interest rates (in other words manipulated) to be "fine". Shorter life spans and many other indicators point to well less than fine.
But I do agree it is world economy and has been for many many decades - maybe centuries.
It sounds like your answer to my new question - is this a buying opportunity? - might be "not yet"......
Still, when AT&T is nearing a 6% yield and bonds pay 2% or less, it is tempting. No one can buy at the very bottom.......
I had lightened my equity exposure over the past 6 months and sold my S&P index and other things. I'm already starting to dip back in - but not big time - on T and Apple. I had sold all my Apple back at 230 and was somewhat sorry....
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