Market tanks 1900 points

[wdmso]

Only the POTUS thinks this virus is a nothing burger ,, the rest of the world not so much

[Pete F.]

He's worried about Pocahontas and Bernie

If you have to shut down the market 3 times in 24 hours, it's not just a bear, it's a grizzly.

But here's an idea

Quick, ban short selling and let the Fed buy stocks directly. US indexes are only allowed to go up over time. Free markets be damned. Who needs capitalism when we have central banks?

[spence]

Originally Posted by wdmso

Only the POTUS thinks this virus is a nothing burger ,, the rest of the world not so much

A few traders binge watched MSNBC last night and this is where we are. Don’t wash your hands to own the libs!
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[Jim in CT]

Originally Posted by wdmso

Only the POTUS thinks this virus is a nothing burger ,, the rest of the world not so much

Trumps comments have been beyond idiotic. Fortunately, I don't look to him for information regarding my health and family's well being, I'll ask doctors about that stuff. But since Trump is hard-wired this way, he could really use better handlers.

Ask people who bought stocks in the 4th quarter of 2008, how they made out. This is a once-in-a-decade buying opportunity. I don't know when the absolute bottom will be (no one does), but there are steals out there.

[Pete F.]

The other thing that happened was U.S. credit markets exploded from $2 trillion in 2008 to $7 trillion today.

That's driven by single-A and BBB paper which could easily fall into junk, or non-investment grade territory.

With a possible recession we will likely need a bailout again for banks too big to fail.
And those people who invested in Bonds with great yields to be "safe" because they were getting towards retirement.

[Sea Dangles]

Buy low
Sell high
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[Jim in CT]

Originally Posted by Sea Dangles

Buy low
Sell high
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exactly.
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[piemma]

Some great buying opportunities. For instance: Tesla is off $100 today alone. They are not going away and it's a good time to buy the stock.

[Raider Ronnie]

The world is going to end.
You guys should do whatever necessary to beat the rush.

[scottw]

Originally Posted by wdmso

Only the POTUS thinks this virus is a nothing burger ,, the rest of the world not so much

I saw my primary physician this morning...she thinks it's a nothing burger

[wdmso]

Originally Posted by scottw

I saw my primary physician this morning...she thinks it's a nothing burger

Did she say that after you coughed . LOL.

All of Italy is in lockdown as coronavirus cases rise??


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[RIROCKHOUND]

Originally Posted by wdmso

Did she say that after you coughed . LOL.

All of Italy is in lockdown as coronavirus cases rise??


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Sorry. His Doc should have been more specific. Nothing Lasagna.
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[Nebe]

Originally Posted by scottw

I saw my urologist this morning...she thinks it's a nothing burger

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[scottw]

Originally Posted by Nebe

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[wdmso]

Trump: Payroll Tax Cuts And Hourly Worker Relief Possible In Coronavirus Response

Or is this for the markets


From no big deal to this ?? More confusion.....

If this is still around in September plenty of seats at Octoberfest if they even have it ..

[Pete F.]

On February 27th, Italy had 600 people confirmed infected with coronavirus.

Today, it has 10,000 cases and the entire country is on lockdown.

That was 11 DAYS AGO.

Guess how many the US had yesterday: 600

THAT is exponential growth. Do the math.

[Jim in CT]

Originally Posted by wdmso

Trump: Payroll Tax Cuts And Hourly Worker Relief Possible In Coronavirus Response

Or is this for the markets


From no big deal to this ?? More confusion.....

If this is still around in September plenty of seats at Octoberfest if they even have it ..

So it's not a good thing to try to guarantee hourly workers that they'll get paid in the event they cannot go to work?

For the second time, if Trump thinks this is nothing, why did he restrict people coming here from China on day one, for which he was called a bigot by the Chinese? Why did he do that, if he thinks this is nothing?

I have no doubt you're confused. When you go all-in on the notion that he's Genghis Khan, and then he proposes a plan to help the people who might need the most help, it can be confusing. To the rest of us, who view him as a deeply flawed person who occasionally gets it very right, it's less confusing.

If he wanted to help the markets, there are ways of doing it much more directly than providing relief to hourly workers.

If Trump helps the markets (which his corporate tax cuts did), you attack him for not caring about the little guy - and there's fairness to that criticism But when he proposes to help the little guy, you accuse him of secretly trying to help the markets. And that's TDS displaying itself.

WDMSO, what can the guy do, short of killing himself, that would make you feel obligated to admit he did something good? Youre not being rational. All you do, is put sinister spin on everything he does.

[Jim in CT]

Originally Posted by wdmso

Only the POTUS thinks this virus is a nothing burger ,, the rest of the world not so much

if trump thought it was nothing, why did he limit people coming here from china on the first day?

my company is closing offices and eliminated business travel.


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[RIROCKHOUND]

Originally Posted by Jim in CT

if trump thought it was nothing, why did he limit people coming here from china on the first day?

my company is closing offices and eliminated business travel.


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The potential of this bug is not a nothing burger. Hopefully this can be limited in the US.

Our travel is limited now. Just canceled my trip to a conference, saving me the fight with my wife if I should go or not.... Awaiting closures/virtual learning but nothing yet. We will see.
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[Jim in CT]

Originally Posted by RIROCKHOUND

The potential of this bug is not a nothing burger. Hopefully this can be limited in the US.

Our travel is limited now. Just canceled my trip to a conference, saving me the fight with my wife if I should go or not.... Awaiting closures/virtual learning but nothing yet. We will see.
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id bet schools get closed at some point. And THAT is a big deal because you can’t even get working parents to keep a kid home when the kid is sick, for a day.

it’s amazing what can happen because someone ate something that looks like an armadillo in eastern china. and if that’s really what started this, how did they figure that out so fast?

and maybe we need better stockpiles of medical supplies.
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[Sea Dangles]

It’s hard to believe there are still active cruise ships.

I wonder if the citizens of Italy blame leadership for their plight...
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[scottw]

Originally Posted by Sea Dangles

It’s hard to believe there are still active cruise ships.

I wonder if the citizens of Italy blame leadership for their plight...
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plenty of other nice places to visit in the world....

[Sea Dangles]

Italy is an extremely densely populated country making containment very difficult. I sympathize with their plight and also with their leadership, who is obviously responsible for this tragedy. As is Iran, South Korea and China. Extra points for South Korea as they have many test kits.
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[Pete F.]

No, did you?

His mistake came at the next step, when he played the miracle card instead of tracking, testing and isolation.

Nobody expects him to give definitive answers. But even a minimally competent president could calm anxieties by explaining what we know, what we don’t know and what we should do about the virus.

I have yet to see one of his officials, never mind him say that we should look at all the means of control we have, what they are and why we should use them.

Instead he says the exact opposite and curbs their speech.

[Jim in CT]

Originally Posted by Pete F.

No, did you?

His mistake came at the next step, when he played the miracle card instead of tracking, testing and isolation.

Nobody expects him to give definitive answers. But even a minimally competent president could calm anxieties by explaining what we know, what we don’t know and what we should do about the virus.

I have yet to see one of his officials, never mind him say that we should look at all the means of control we have, what they are and why we should use them.

Instead he says the exact opposite and curbs their speech.

How do you test, when testing kits don't exist? Maybe Obama could do it by waving his hand, but Trump is merely a flawed human, not a deity like Obama was.

"let today (my inauguration) be the day we remember as the day that the waters stopped rising and the planet began to heal..." Those aren't the words of a narcissist, no sir!

[Pete F.]

Originally Posted by Jim in CT

How do you test, when testing kits don't exist? Maybe Obama could do it by waving his hand, but Trump is merely a flawed human, not a deity like Obama was.

"let today (my inauguration) be the day we remember as the day that the waters stopped rising and the planet began to heal..." Those aren't the words of a narcissist, no sir!

But Obama.....has nothing to do with it, other than that any program initiated by him was hacked out.

The Barking Carnival Clown cut CDC budget, eliminated coordination of pandemic control in the federal government and claimed it would all disappear....like a miracle

In South Korea, more than 66,650 people were tested within a week of its first case of community transmission, and it quickly became able to test 10,000 people a day. The United Kingdom, which has only 115 positive cases, has so far tested 18,083 people for the virus.

This is where we end up when the leader surrounds himself with yesmen, claims that all you hear is fake news, the truth only comes from him and Corona is not a problem.

His response might best be characterized as incompetence exacerbated by malevolence.

Just why can we still not test at the rate of other countries, is that too Obama's fault?
Of course

[Jim in CT]

pete, you denied this stick
market dump
was because of the virus, you said it was trumps fault. you have, literally, zero credibility.
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[Pete F.]

Perhaps you can show me where i gave him sole responsibility, though he always claims it for anything positive.

I have said that Corona was the trigger and PB has been propping the market in anyway possible since he was elected, while not taking advantage of the growing economy to cut the deficit/debt and caring little about the longterm results.

[detbuch]

Congress is responsible for cutting deficit and debt.

[Pete F.]

Originally Posted by detbuch

Congress is responsible for cutting deficit and debt.

Apparently Not Me is not just one of my children but also lives in the White House?

On September 8, 2017, Trump signed a bill increasing the debt ceiling. Later that day, the debt exceeded $20 trillion for the first time in U.S. history. On February 9, 2018, Trump signed a bill suspending the debt ceiling until March 1, 2019. It leapt to $22 trillion. In July 2019, Trump suspended the debt ceiling until after the 2020 presidential election. The debt soon rose to $23 trillion. Trump has overseen the fastest increase in the debt of any president.

Trump's Fiscal Year 2021 budget projects the debt would increase $4.8 trillion during his first term.

 That's as much as Obama added while fighting a recession. Trump has not fulfilled his campaign promise to cut the debt. Instead, he's done the opposite.