Posted on 12/24/2018 10:22:06 AM PST by Sir_Humphrey
wo major stock indexes headed toward their worst Christmas Eve of trading ever on Monday, as the S&P 500 pushed to the cusp of a bear market.
Markets responded to turmoil in Washington. Multiple reports said President Donald Trump is discussing how to remove Jerome Powell from his position as chairman of the Federal Reserve. That discussion, as well as the recent market volatility, spurred Treasury Secretary Steven Mnuchin to call the leaders of the six largest U.S. banks over the weekend. Additionally, Defense Secretary James Mattis announced he would step down at the end of February, saying his views do not align with the president’s.
(Excerpt) Read more at cnbc.com ...
This is not going to bode well for Trump. The volatility started with tariffs. Now the markets have further spun out of control because of the general perception that the president is too indecisive and unpredictable. Markets hate instability and Trump, so far, has done little to reassure them. One other thing to consider, this all happened under a GOP controlled congress.
There is still time for Trump to recover. But more tariffs and public yelling at the Fed isn't going to get that done.
IMHO this is retribution from the powers to be that we voted for Donald J Trump. We did not vote for one of their “approved” candidates. They are doing everything they can to take Trump down. They being the establishment who are having their gravy train interupted.
Two major stock indexes headed toward their worst Christmas Eve of trading ever on Monday, as the S&P 500 pushed to the cusp of a bear market.
The Fed was wrong to raise the rates. Everyone says so.
Lol. That's the agitprop theme for the moment.
It doesn’t seem that long ago that the money experts were fearing that it would dip below 10,000.
I won't dispute that.
But I will say that this sort of Wall St panic often happens after an election in which the Democrats seize the House. I remember it didn't go well after 2006 when Democrats won. Now in 2018, Democrats regain the House, and the Dow plunges.
Yes, technically, the GOP still is in control. But the Dow see the future.
All I want for Christmas is good buying oportunities.
It might easily be various funds locking in huge gains as they do every year at this time. If so, they will buy back the same stocks next year.
Speaking of panic, early in my career I was working on a time sensitive high visibility project. My boss came by and asked how I was doing and if he should panic. I turned to face him, squinted one eye closed and considered. After a full minute I said, “Yeah, go ahead and panic. You shouldn’t leave it to too late.”
It is the very low interest rates that drove the Stock market rise. The deep state is now increasing interest rates to make it dive. The action is designed to hurt Trump.
Swampy Powell needs to go. Now.
Has nothing to do with tariffs. It is about to destroy trump. This deep state government is evil. Red jacket time?
I agree with you. The “Never Trumpers” & Democrat scum & vermin, rich goons are driving the markets down. The American public,especially the people that support and voted for POTUS, Donald J. Trump could care less. Ho-hum!!! These fools are killing themselves financially with every passing day.
The Fed was wrong to raise the rates. Everyone says so.
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While there are tangential causes, the POWELL PLUNGE is mainly due to overtightening by the Fed. This is the economic equivalent to overmedicating a patient.
“... retribution from the powers...”
Economic growth - up.
Unemployment - down.
Profits - up.
Fed kicks up interest rates and the market drops.
Pure political crap.
I smell Soros.
The men in the smoke filled back rooms like to make money too
FWIW, I made more than $500 today on my gold & silver holdings. I'll reenter the market at a bargain price when this mess settles.
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