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| Just want to point out that this is the greatest decline we have seen in decades. The greatest I tell you. |
The stock market's start to the second quarter was its worst since the Great Depression.
With the S&P 500 closing down more than 2.2 percent Monday, the broad market index posted its worst start to April since 1929, according to S&P Global.
I'm not an economist, and I'm shit at math, but that's bad right?
Which is so confusing because I could have sworn that I heard Donald Trump just yesterday bragging about this being the best economy EVER.
Which is especially odd since this seems to be Trump's fault directly.
Courtesy of The Guardian:
The opening salvos of a tariff spat between the US and China that some observers fear could escalate into a full-blown trade war sent jitters through Wall Street on Monday.
Stock markets fell after Beijing hit back against Donald Trump’s imposition of tariffs on Chinese steel and aluminium with a swath of retaliatory duties on 128 imported American products, including pork and apples.
The Dow Jones tumbled by more than 730 points, or 3%, to 23,368 as a selloff swept the New York market but recovered to end the day down 459 points, or 1.9%. The wider S&P 500 index was also down 2.3% and the tech-focused Nasdaq shed 2.74%.
Man, it's almost like he has no fucking idea what he is doing.
http://money.cnn.com/2018/04/03/news/economy/china-us-trade-tariffs/index.html
ReplyDelete'Geng said Beijing still hopes "to resolve the differences in trade with the United States through dialogue and consultation" But he warned that "should be done with mutual respect and fairness ... not with one side being condescending and coercive."'
https://www.rawstory.com/2018/04/illinois-farmer-chinese-tariffs-worst-fears-seem-coming-true/
Delete'One out of every 3 soybeans grown in the U.S. is exported to China' "amounted to more than $14 billion in soybean exports to China in 2016, according to the American Soybean Association.
Illinois was the top soybean-producing state in 2017, with about $3 billion in exports, according to estimates from the Illinois Soybean Association. China is the largest export market for whole soybeans."
""We seem to have a 'ready-fire-aim' approach that's more disruptive," "
https://www.rawstory.com/2018/04/msnbcs-stephanie-ruhle-unloads-businessman-trump-clueless-trade-basic-economics/
"“And when you watch the president talk about trade deficits and he clearly doesn’t understand them — a trade deficit and a budget deficit are not the same thing,” Ruhle continued. “And let’s remind the president that the trade deficit between the United States and China has grown since he’s been in office.”
“So when you watch someone say, ‘I’m a business guy who knows a lot about business,’ we’re reminded that he’s a business man that went bankrupt four times, who was briefly in the public markets and it was a disaster,” she reminded. “And you say ‘what, what in God’s name?’"
https://www.thedailybeast.com/mitch-mcconnell-trumps-tariffs-are-a-slippery-slope?ref=home
DeleteAnd the right wingers were giddy 'trumpeting' the bull market. So now that it's collapsing(as a direct consequence of the actions of this idiot) it's not Trump's fault. Right Winger = ignorant stupid person ... aka Fox misinformed cretin.
ReplyDeleteActually it is trump's fault with his stupid trade war but chicken little won't take credit for it.
DeleteYeah, all my stocks tumbled. Fuckin orange turd.
ReplyDeleteAre we sure he was rolling Easter eggs, and not spent hookers?
ReplyDeleteIt is bouncy season. It will be back up. This isn't Great Depression or Great Recession type activity.
ReplyDeleteYes yes I know it is all Trumps fault etc.... but the reality is the market blips (and big blips) are just that. The market has been slightly inflated for a while though IMO, so when it does settle it probably will settle a little lower than the highs this year.
If you think it's bad now wait until the loans come due in October. Will we be able to make our payment or will Trump just declare bankruptcy for the USA? MAGA indeed!!
DeleteFor the first 12-18 months a president rides on the economy of his predecessor. So we enjoyed the last of the Obama administration's economy for a year. Now we are in the Trump economy. And it totally sucks. It sucks more than any economy since the great depression. But give Trump credit and a little more time and he'll outdo the worst of the great depression. He'll eventually have the worst economy ever in the history of the United States. Because Trump won't stop until he is number one.
ReplyDeleteMeanwhile a THIRD WOMAN is suing Trump to nullify her NDA.
https://www.huffingtonpost.com/entry/jessica-denson-is-suing-to-break-a-trump-related-nda_us_5ac3873ae4b04646b6465f8a
And Scott Pruitt is on the hotseat (again) this time by awarding a pipeline contract to a lobbyist whose wife he rents a room from at waaaaay below market value. Like $50 a night in a luxury townhouse with an open ended deal. Of course the EPA "ethics" overlords have given him a pass with "nothing to see here, move on now."
http://abcnews.go.com/Politics/epa-chief-scott-pruitt-facing-calls-investigate-housing/story?id=54207260
https://www.huffingtonpost.com/entry/scott-pruitt-pipeline-project-apartment_us_5ac307bbe4b04646b64577c3
https://www.thedailybeast.com/scott-pruitts-dc-lobbyist-landlord-also-funded-his-oklahoma-attorney-general-campaign?source=articles&via=rss
https://www.npr.org/2018/04/03/599145343/epa-chief-pruitt-faces-mounting-scrutiny-for-ethics-violations
But Trump tweeted for Pruitt to fight back and ignore the naysayers, saying he's got his back.
Any odds on when Pruitt is fired?
If you asked most people, "Which of these things would you rather do without, Amazon.com or Donald Trump?", any guess what their answer would be?
ReplyDeleteGuess it's a good time to buy low.
ReplyDeleteI would buy Amazon but I still can't afford it. Over $1400 a share. Even Tesla is still out of reach. That really hurts as I wanted to buy Tesla back in 2005 and my Dad's broker talked me out of it. Suggested I buy GE instead.
DeleteThat fucking idiot in D.C. needs to be impeached. Another shooting and the stock market crashes - worse since 1929. It's all occurring on his watch and he will be blamed.
ReplyDeleteIMPEACH, IMPEACH, IMPEACH!
The irony of it all. Shrug.
DeleteEasy with the hysterics there 1:04 lol.
DeleteAre you last two commenters paying attention as to what is going on around you? It might be a good idea to do so. Just sayin'!
DeleteWhat? You mean the "repeat" tactics going on? Eye roll.
DeleteImpeach the fucking asshole! Republicans in Congress get your act together and save America and Americans from this dictator!
ReplyDeleteI live in a rural Virginia county on the Chesapeake Bay that exports soybeans to China. Our biggest employer is a fishery that catches 170,000 tons of menhaden per year and processes the fish into fish meal and fish oil. The fish meal is exported to China, 100%.
ReplyDeleteJust learned of the Chinese tariffs . . the soybean farmers and fish factory are in shock.
I saw the fish factory manager today at a local cafe . . . he was pissing and moaning about the Chinese tariffs. I pointed out to him the Chinese tariffs were a response to Trump's tariffs and would not have happened had Trump not imposed tariffs. I then asked him (he's an outspoke Trump voter): "How's that Make America Great Again working out??" Then I laughed out loud.
Fuck 'em all. Let 'em go broke. They'll blame it on Obama and Hillary.
Trump is going to harm the folks financially that actually supported him in the election! Wait until they wake up and get the picture.
DeleteJust how the Hell does he think he'll be reelected? Doesn't stand a chance! He'll probably be impeached before reelection time comes around.
Kudos. They need their faces rubbed in Trumps shit as often as possible until they'll never forget his stink.
DeleteNope, Trump's face should be rubbed in the job #2 left by a few black people and Mexicans on the white house lawn. Might put in some from white folks too.
DeletePerhaps that would shut his ugly mouth and tame his discrimination chatter.
Oh no this criminal called trump knows exactly what he is doing. He is attempting to destroy America, democracy, business, lifes, everything. The dangerous moron is a criminal and he knows what he is doing. Destruction is his game, the mob is his friend, communism is his agenda. #impeachtrump #throwtheliaroutthedoor #arresttrump #enoughisenough
ReplyDeleteWell at least we got him to shut up by tanking the stock market.
ReplyDeleteInteresting he is no longer taking credit for "running" the market now that is it plunging :) Guess it is all Obama's fault.
Claim the rise, own the fall.
DeleteExcept if you are Trumplethinskin.
CHINA CHINA CHINA ok? CHINA CHINA CHINA ok?
DeleteWell I guess investors better stop whining and get those factories in USA back online.
DeleteBuy in America. Rose Rivitor.
That would be a good thing!
""Until we can have a wall and proper security, we're going to be guarding our border with the military," Trump said. "That's a big step.""
ReplyDeletehttps://www.npr.org/2018/04/03/598006989/trump-calls-for-military-forces-on-u-s-mexico-border?utm_source=facebook.com&utm_medium=social&utm_campaign=npr&utm_term=nprnews&utm_content=20180403
OT: "Mr. Shah then alleges that “Staff work tirelessly and have experience consistent with the practice of previous administrations.”
ReplyDeleteReally? When is the last time the reader heard of any Administration, using that particular office as a hang-out, with as the Post reports, vaping and Happy Hour taking place?"
"Schmidt provides an epic SLAM of not only the office staff responsible for staffing Mr. Trump’s administration but Mr. Trump him$elf."
https://www.politicususa.com/2018/04/03/gop-strategist-steve-schmidt-slams-trump-his-administration-and-presidential-personnel-office.html
Fix~IT
ReplyDelete“Look at Jared, he looks like a little boy, like a child.”
http://people.com/politics/president-trump-jared-kushner-little-boy-tv/
https://www.rawstory.com/2018/04/foxs-shep-smith-john-roberts-destroy-trumps-lies-amazon-hurting-post-office/
ReplyDelete“because none of that — none of that was true.”
“This can be boiled into very simple terms,” Roberts said. “This is personal
“The president looks at The Washington Post everyday,”
the correspondent noted,
“and by and large doesn’t like what he sees.”",
https://www.youtube.com/watch?v=RDrfE9I8_hs
ReplyDelete'president won’t take credit for ‘trade WAR’ market selloff: ‘Blame CHINA, not Trump’ "I counted 233 times"
https://www.rawstory.com/2018/04/adviser-larry-kudlow-says-president-wont-take-credit-trade-war-market-selloff-blame-china-not-trump/
T-hi$ I$ Li$ted la$T>"Casino giants Las Vegas Sands (LVS) and Wynn Resorts (WYNN) fell like tumbling dice Wednesday. Each dropped more than 2%.
ReplyDeleteEven though Las Vegas Sands and Wynn are unlikely to be hurt directly by the tariffs, investors are concerned about other potential retaliation by China. Both companies generate more than half their revenue from the Chinese special administrative region of Macau — and not SIN City."
http://money.cnn.com/2018/04/04/news/companies/china-tariffs-us-multinational-sales/index.html