Quote:
Originally Posted by Jim in CT
In the interest of raising the bar here, I'll ask you some sincere and respectful questions...
"when the Dow goes to 14,000"
What should the administration be doing, that it's not talking about doing, to help shore up the economy? A payroll tax holiday, some kind of income guarantees to people who either get sick or whose business gets shut down, loans and grants to small businesses...could you tell us what more he should be considering?
You are assuming incorrectly that the virus is the cause of the market change, it is only the trigger that set off the fall into a bear market. It's too late now, all the tools (tax cuts, debt reduction, interest rates) that needed to be there for the inevitable bear market have been expended to keep the bull alive. So we will do things to further increase our debt, cut more taxes and add to government programs. We do need to do something to help those who cannot help themselves. No, I am not the guy to decide but I don't think this administration has the people capable of doing it either. They have been carefully selected to carry out the leaders wishes. We will see, won't we.
"we give Afghanistan to the Taliban"
Which candidate running for president, is committed to leaving a big US presence in Afghanistan forever? As far as I know, neither Trump, nor Sanders, nor Biden, certainly not Gabbard, think we should stay in Afghanistan until regime change is successfully accomplished.
Sanders is now inconsequential and who cares about Gabbard? What this administration is doing is not workable. Where is Mark Frerichs, an American taken hostage in Afghanistan by a Taliban-affiliated group earlier this year? And, if the Taliban is actually separating itself from al-Qaeda, what was the leader of al-Qaeda’s South Asia branch, an intimate of al-Qaeda leader Ayman al-Zawahiri, doing at a Taliban compound in Helmand Province just months ago when U.S. counterterrorism forces tracked him down and killed him?
Why are we giving so much away that we paid such a price (1900 dead and 20,000 wounded, never mind the money) for while getting so little back in return? Is it because it's unlikely that al-Qaeda will be able to do anything prior to the election and after that who cares?
My opinion is that we will be in Korea and the Middle East for the foreseeable future and should have more of a diplomatic presence in other parts of the world (mainly Central America and the former Soviet republics) so we encourage the growth of democracy, the fall of authoritarian regimes and don't have to exercise military force.
Stock market drops are terrific for everyone other than those who need the money now. And therefore they have no business putting that money in stocks.
|
I can promise you that it is not good for most american workers in durable goods, construction, manufacturing and retail based on history.
I had and saw plenty of construction projects mothballed and then never done in the past bear markets and big drops. You'll always remember thinking you had plenty of work and then a couple of calls later it's time to scramble.
The stock market is not the economy but should reflect it, it hasn't lately, grew irrationally and everyone piled on as they always do at the end of a bull market.
Unfortunately the virus is only the trigger and now the market gets to come back to reality and usually goes a little past. The trick is figuring out where and when that will be and having enough to take advantage. Few people do.
There is a bright side
In 1665, the University of Cambridge temporarily closed due to the bubonic plague. Isaac Newton had to work from home, and he used this time to develop calculus and the theory of gravity.
Threaded Mode