Posted on 12/20/2021 9:48:29 AM PST by Browns Ultra Fan
Well, the Dow is down 600+ points today. Bloomberg News is blaming 1) Omicron (that we already knew was gaining steam), 2) Manchin saying “No” on Build Back Better (I predict that Senate Democrats will reach an agreement with Manchin to screw over the American people after the new year begins), but not a mention of China real estate debacle or the decline in oil prices.
Here is the three day decline in the Dow and the three day decline in West Texas Intermediate Crude futures. Likely declining because of an expected slow down in the economy, partly due to China’s RE crisis washing on US shores.
The winner is … China and the fallout from their RE crisis.
Now it could be that the Biden Administration overreacts along with State governors and Mayors helping to create another economic downturn.
With Bill de Blasio as Mayor of New York City and Laurie Lightfoot as Mayor of Chicago, I wouldn’t rule out insane government lockdowns.
(Excerpt) Read more at confoundedinterest.net ...
Turkish lira collapse as well.
Being set up by the big money players.
I remember, back in the day, when 600 points was a lot...
bookmark
Multiple things going on. Anyone who tells you they know exactly is lying, just like every other day of trading.
(Spoiled)Build Back Bolsheviks...wanted all that easy money/power NOW!(waaaaaaah! WAAAAAH!)
It collapsed because it was made with Chinese CONCRETE?..............
Biz news states all the NON-reasons for the DOW turning down.
But, we here on FR can quickly make a list of what the actual reasons are:
As you said, Turkish lira
Russia’s 175,000 troops and equipment poised on the Ukrainian border for imminent invasion
Daily CCP flights into Taiwan ADIZ, over many months with associated rhetoric
What was a trickle of CEO and congress resignations and COVID, turning now to a steady stream.... could a flood be next?
Evergrande bankruptcy, turn down of Asian and Europe markets
China is bringing everyone down.
Blaming it on a cold....all rushed, to CYA the damage being done by these $hots.
Unreal what we’re witnessing.
Bitcoin is also down 2%.
Long lines waiting just for a Covid test in NY and other places is insane. Everyone who has had three of Fauci’s jabs now proclaiming they have have Covid. Nice vaccine you got there, pal.
So all the foolish are going to rush in to sell and lock in their losses. Someone tell me we are not under the judgment of God with Biden and the rest of his Democrat followers. Is there anything Biden has not yet destroyed?
...gambling money being withdrawn from the market until after the Holidays.
Why China? Maybe I missed a news story.
Omicron, yes, Jim Cramer caught Covid at some kind of event. Governor Hogan too. But that’s not the real reason. The real reason is because the specter of more lockdowns and restrictions. UK and Netherlands are going there very soon. Maybe here too. What is Biden going to propose tomorrow? Lockdowns means commercial disruption and generally poorer earnings and greater inefficiencies. Probably was a bad idea for Biden to announce he was going to announce something strict. He should just announce it.
Manchin, yes a bit too because markets like to price in future earnings. More inflation means higher prices which means greater penny profits for corporations (even if the profit margins remain the same, the penny profit they make from the inflated prices will go up). Lower inflation, less reason to hold or buy into a red hot market.
We’re getting set up for the Santa Claus rally, make a few bucks and then back to dimentia joe and that comes with his admin.
The China RE thing is “old” news. That big company already defaulted weeks ago. Weeks in this market is old.
Large publicly traded companies are (generally) doing quite well during COVID. Its the small local companies getting killed (if still in business).
When Manchin killed BBB and the opportunity for the Fed Govt to pump in trillions of more dollars into the economy, publicly traded companies would lose out most of all.
Wall Street loves government handouts. Everyone gets rich. Less handouts, lower stock prices (for today, anyways!)
Yes there other situations helped; but the market has been influenced by the likelihood of (more and bigger!) government handouts. IMHO.
Lol
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