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Someone mentioned bailouts for airlines as too big to fail. But ironically, after years of trying various methods to drive down prices, we may be bailing out the oil industry. Being tied to national security it will be a no vote executive order.
I guess this is now the place to discuss the market since the other ongoing TWO year old thread praising Trump for its rise seems to have been permanantly shut down today (ironically just as the market was).
Just as Trump was much responsible for its rise, he is not entirely to blame for its cataclysmic drop, the biggest in history. The President has very little sway over the market as it is the product of many many factors which no single entity can control.
I guessing after the markets was looking so bad, that the op requested it be closed. He couldn't take it anymore.
Largest POINT drop ever, which is meaningless compared to the way it should be measured, which is by percentage change. But both you and I know anyone without political bias knows the percentage is the proper way to measure performance.
At his rally last week trump was touting the largest point increase ever, so he apparently doesn't understand that.
Italy recently announced a total lockdown in the richest parts of the country with armed military guards at all checkpoints and long prison sentences for anyone who dares to leave. It is economically devastating.
Here’s a picture of people enjoying the day in an outdoor cafe in Milan. I don’t see the military imposing on the people at gunpoint.
At his rally last week trump was touting the largest point increase ever, so he apparently doesn't understand that.
Well I don't have a direct forum to address that with POTUS. The poster I replied to here knows how the markets work and continues to make misleading posts so I like to call it out for those who don't know better.
The stock market is a leading indicator. Traditionally it shows where the economy will be in 6 months. Essentially its prices relate to corporate earnings. The problem right now is where will corporate earnings be in six months with the uncertainty of the coronavirus. Many sectors will be way down but how much and how many is the problem.
With people cancelling their trips in droves, the travel industry is probably going to have its worst year since 9/11. And this will radiate out to other sectors of the economy. The Dow is going to go down. There's no way that it wouldn't, with all that's been going on. The only question is, how much.
To be sure, winter is typically the slowest season of the year for travel (other than to ski resorts, of course), so it's not like the planes would have been full if not for the coronavirus. But if this continues into the peak summer season, and people refrain from traveling in large numbers at that time, that's when what is already a crisis in the travel industry will become an all-out disaster. And the Dow will drop all the more.
I guess this is now the place to discuss the market since the other ongoing TWO year old thread praising Trump for its rise seems to have been permanantly shut down today (ironically just as the market was).
Just as Trump was much responsible for its rise, he is not entirely to blame for its cataclysmic drop, the biggest in history. The President has very little sway over the market as it is the product of many many factors which no single entity can control.
The current situation is caused by effectively a natural disaster. There's nothing that anyone could have done to prevent a virus in China causing supply shortages.
Our friends on the left have been paying for a recession they could blame on the president.... instead they got one that can't be blamed on him effectively. They got the pain they were praying for without the political benefit.
So much for Trump and his brainwashed followers pumping the market. That's what happens when you pump the market. It crashes in you in literally no time. Trump and his supporters took all of the credit when it went up, now they can all eat the responsibility now for when it tanks.
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