Posted on 03/18/2020 8:15:44 AM PDT by knighthawk
U.S. equity markets plunged in the opening minutes of trading, gutting a rebound on Monday.
The Dow Jones Industrial Average fell 1,268 points, or 5.9 percent, while the S&P 500 and Nasdaq Composite were lower by 5.4 percent and 5.5 percent, respectively. Trading is halted if the S&P 500 falls by 7 percent.
The early selling comes as the Trump administration and Congress hammer out the details of a $1 trillion stimulus package designed to prop up the most harshly pummeled sectors of the U.S. economy and give cash to those out of work.
(Excerpt) Read more at foxbusiness.com ...
Maybe gas company owned stations should sell 50 gallons a month cards good for 12 months.
Spot on wonder how many are into the 3 card Monte game?.
I’m almost all in cash, having been that way for a couple of years.
Just hoping we don’t get a dollar devauation.
One trillion more debt tokens to the Federal Reserve Banks.
Don’t give people more FRNs (It’s bad for them in the long run).
It’s an emergency. It’s real. FDR took the gold.
Mr. Trump, be as bold. Cancel all debts.
I could agree with this in an open, good faith market. Buy and sell as your decisions guide.
But I cannot see the current environment as a good faith market.
I think that's an assumption of "normal" that doesn't exist. Defense from an attack is not interfering with the market - it's interfering with the attack.
I sold my last shares a few months ago.
I decided to make my next few years secure.
That would be cool... Cancel $20 trillion in debt?
Giving China the middle finger would REALLY upset the apple cart.
We are already there.
You are smart. I wish I could have done the same. If I was permitted to manage my own money I would have been smart enough to sell about a week ago. A week ago is smart but not as smart as a few months ago.
Money is two things. It is a medium of exchange and a store of value. Real money gives the possessor both things.
Debt as money is a perfect medium of exchange. In fact, it's better than paper. However, it is YOUR medium of exchange and SOME OTHER GUY'S store of value.
Your "$20 trillion" figure is WAY too low. That's just the FedGov, and it's actually $22 trillion and growing fast. Throw in mortgages, student loans, car loans, HELOCs, and garbage loans and the mountain is obviously much too high to climb.
The debt is going to be liquidated. That is historically AND mathematically obvious.
As with all previous debt liquidations, from the Bible to 1933, the questions are "how to do it", and, "who wins".
I know the moral argument. None of my seven kids have student loans. But that's because of my blessings, some deserved, some not.
At this very point in time, with $60 trillion, more or less, in unpayable debt, a small number of people are going to wind up owning everything and hundreds of millions are going to be crushed.
It's not a question of values. It's math.
Since the debt is going to be liquidated, and since we are in a crisis that is unprecedented in nature, and since paper assets (finally) are going to burn - why not step out boldly and cancel the debts?
This is all deliberate.
Amen, I at least want to see shorting stopped like in South Korea and/or uptick rule implemented.
- -
That will ensure *fewer* buyers on the way down, intensifying the crash.
“That would be cool... Cancel $20 trillion in debt?”
What would happen?
Excellent post. Queue the titanic picture that Travis McGee always used to post during the housing bust with the saying about how debt has to be destroyed. It can’t be any other way. I forget the quote or the author but it was true and factual. Some combination of generations are going to be royally screwed when the musical chairs stop and there is a financial collapse to rid all of the excess debt. The world tried to do that in 2008/09, and the US Fed just postponed it with $10 trillion in new debt, which will make the magnitude far worse when it happens. I am praynig it is not in my lifetime, although everybody who can should own a minimum supply of gold right now, to use as money if money stops being money.
You speak truth.
> Black gold. Texas Tea.
ICWYDT.
Hills, that is. Swimmin' pools. Movie stars.
Candidate for stupid post of the day
We will not go to “war” with China, it solves nothing if you are referring to shooting etc and kills our people and has no end in sight
If you are referring to bringing our manufacturing back and being self sufficient and not dependent on them as the Globalists hope, the horse is out of the barn and a main focus of Trump Doctrine is to bring it back here so events like this can never scale to where we are today!
Slow down, my comment was semi-sarcasm.
> Just hoping we don’t get a dollar devaluation. <
That’s very unlikely. But we may end up seeing negative interest rates, where you pay a bank or money market fund to hold your cash.
That’s already happening in Europe. But it’s only being applied to huge accounts. Will it happen here with us small fry? I wouldn’t bet against it.
There are many who are going to make a windfall due to this crisis. Most who are going to lose everything.
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