And I Know Why
It’s that extra $1.50 a week that the market couldn’t handle.
The stock market dip follows months of record highs, but still leaves the economy at a significantly higher level than it was when Trump took office.Pressed about the stock market losses, White House deputy press secretary Raj Shah acknowledged “markets do fluctuate in the short term, I think we all know that. But the fundamentals of this economy are very strong.”
This morning Trump’s giving a speech about how great the stock market dropped 1,000 points.
Devin Nunes will soon have a memo about it.
This is obviously either fake news, or related to Hillary’s e-mails, or (insert scapegoat here)
1The biggest, greatest stock market drop in history?
I said to myself, ‘wow’, and I’ve seen financial crashes before. Big, big crashes. That was some crash. – Paraphrasing Donnie
2You just knew this was coming, didn’t you!
3Percentagewise this was not the biggest drop, and in fact, even coupled with Friday’s drop it wouldn’t come near the 23% one day drop in 1987. But it is a big drop. The problem for those in the stock market is that these drops are likely under a Republican government (they can happen any time but Republican policies make them more likely) and Republican responses to stock market problems, like their responses to any economic problems, are hopelessly wrongheaded and damaging.
4Hoo-boy.
Trump says it is “un-American” not to applaud him.
Trump says during a speech in Blue Ash, Ohio, that the Democrats last week gave off “bad energy” as he delivered his first State of the Union, failing to clap even at positive economic news.
Trump is calling their reception “un-American” and asks: “Shall we call that treason? Why not?”
He adds that, “they certainly didn’t seem to love our country very much.”
http://www.ktuu.com/content/news/President-Trump-first-lady-head-to-Ohio-for-rare-joint-policy-trip-472756063.html
Next, we start rounding up Democrats and shipping them off in cattle cars to FEMA concentration camps . . .
5Deep State Obama strikes again. What’s a Donny to do ?
6Huh,
I guess Yellen was a keeper…
7What JDM said. Plus– BWAHAHAHAHAHA…
8I predicted these huge market drops last Thursday [mojo signs like Yellen exiting (as tRump wished, very unusual for a Fed Chair to be dumped), etc.], other BS factors.
I even shorted some holdings and made a bundle today, heheh. Been waiting, and it ain’t over yet…
Crash time? Not really likely, yet, but let Der Lieder keep screwing around and it might happen before November.
General rule: buy bonds during Republican administrations and stocks during Democratic administrations.
9I understand Trump is demanding to be allowed to fire Dow Jones, whom he believes is an illegal immigrant, placed in a position of power by a deep state cult.
Personally I was fond of Friday’s 666 drop, it’s the Stephen King fan in me.
10Well, why should the Dems applaud the Dotard? He was doing enough of that himself to cover their treasonous actions!
11I had this LBJ quote from a 1973 Atlantic but I “lost” it until I stumbled across it tonight…
12“”When I took over the presidency, Jack Kennedy had left me a stock market of 711. When I left the White House, it was over 900. Now look at it. That’s what happens when the Republicans take over—not only Nixon, but any of them. They simply don’t know how to manage the economy. They’re so busy operating the trickle-down theory, giving the richest corporations the biggest break, that the whole thing goes to hell in a handbasket.”
I quit reading too soon!
Also from the same 1973 Arlantic,
13“(He had also, he told me, given his outgoing Cabinet members a different, if equally sobering, kind of advice: “Each of you had better leave this town clean as Eisenhower’s hound’s tooth. The first thing Democrats do when they take power is find where the control levers are. But the first thing Republicans do is investigate Democrats. I don’t know why they do it but you can count on it.”)
It was also announced that the US Govt would have to borrow $1trillion this year, twice what it did last year. And creepy Mnuchin is telling Congress to raise the debt ceiling sooner than expected due to reduced revenue which is due to the obscene tax cuts. Those repubs are such fiscal conservatives! Gag me.
14And Faux Snooze is already trying to blame Obama for the crash.
15Post script: This was world-wide. Thus, a shudder should appear in every brokerage and old boys club.
16Drumpf and crew borrowed a trillion dollars recently to cover lost tax revenues from the koch bros taxcuts- for this year alone.
Munchkin told wingnuts to quickly raise the debt limit. Here, little onion was under the impression these koch bros tax cuts would pay for themselves. We are down 2.5 trillion less than a month into tax cuts.
Hard to believe, I know, but I think Honest Abe Drumpf lied to us some more.
ps the stock market lost a trillion bucks in value since last week.
17Sorry Hannah, I completely missed your post. I am a redundant dummy and beg fer forgiveness.
18I was on the elliptical at the gym when Cheeto Jesus was giving yet another campaign speech in PA. Both CNN and Faux News were carrying it. I have to say I really relished it when Faux cut away from him and showed the Dow in free fall. Shepard Smith (who is no Trump fan) said their on-screen graphic couldn’t show the full extent of the drop because “it never had gone down that far before.” Good times…
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