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 ...
> Mr. Trump, be as bold. Cancel all debts. <
All debts? Does that include the Savings Bonds and the Treasury bond funds many folks have? I hope not.
But I will meet you half-way. Cancel all US debt held by China. After all, they started this mess.
uptick rule isn’t what it used to be in a human-driven, fraction-traded market.
Wall street is filled with crooks and thieves
nothing more
It’s always been that way and always will be
And now they’re just proving to be cowards
If it makes you feel any better, consider this. In a bear market, it’s relatively easy to know when to sell. Sell now. But it’s not easy to know when to get back in.
Study after study has shown that folks who get out early get back in too late. And so they do worse than the buy-and-hold folks.
Of course, this time might be different. Who knows?
We could probably all use a little of Granny’s roomatiz medicine right about now.
Ya, but Jed, Granny, the Drysdales and Miss Jane all succumbed to the Coronavirus.
Ellie May and Jethro having a young ‘uns party down on the cement pond.
As I said when bamm was pres, it’s not a stimulus. It will deflate the value of money, causing all prices to rise, giving the illusion of economic recovery.
That will ensure *fewer* buyers on the way down, intensifying the crash.
...
I disagree. You have more people buying not selling. That’s the whole point. You stop people betting on it dropping. You’re assuming that everybody still wants to sell. That is not the case. The people betting on a selling are the ones purposely trying to crash the market and they’ve already driven it to what it was worth before President Trump was elected. That was certainly one of their goals to claim that he is doing things the wrong way.
US sovereign debt does not matter at all.
Household debt is unsustainable. Wipe it out with a pen.
Inflation not out of the question. It would hurt seniors most, being on fixed incomes. And would further erode many portfolio positions.
I’m recommending dollar-cost averaging to my kids looking to get in now.
”As I said when bamm was pres, it’s not a stimulus. It will deflate the value of money”
The value of money to whom? Debt-as-money has some peculiar math.
Credit sellers tell me I can spend $125 000 tomorrow. Does that $125 000 have value to me? Or to them?
Any stimulus which increases the people’s indebtedness TO THE FED makes the long term worse.
Say I spend my $125 000 of credit card money TODAY and our theoretically sovereign government cancels my debt tomorrow.
That’s the same as sending me 125 000 FRNs, but UNLIKE sending me FRNs, no debt is created, rather, debt is extinguished.
Sucks to be Goldman Sachs, but, TBH, they have it coming.
> Household debt is unsustainable. Wipe it out with a pen. <
I’m confused (not an unusual state with me). Someone holds that debt. Don’t they deserve some consideration?
Someone lent me money to buy a car and a house. And via a credit card, someone lent me money to buy groceries last week. What happens to that someone if you just write that all debt off? Do the Feds step in and make them whole?
If so, the national debt would just explode. If not, the Rule of Law means nothing.
“President Trump has already announced that the government is filling the Strategic Petroleum Reserve up to max capacity.”
Thanks.
I do remember him mentioning that in a offhand manner. He’s very cool.
Usury is a sin and it used to be a crime.
The whole “economy” is built on it. It will end in tears, as it always does.
Do the usurers deserve consideration? If by that, you mean we should not burn them at the stake or take them to beheading in the square, I’m OK with that.
If you mean they, who made loans (collectively) beyond what could ever be repaid, “deserve” to collect anyway from the community - Nah, not really.
“In christening shalt thou have two godfathers.
Had I been judge, thou shouldst have had ten more—
To bring thee to the gallows, not to the font.”
There is nothing new under the sun.
> Usury is a sin and it used to be a crime. <
I agree 100%. And I thought about that after my last post to you. So yes, I’d fully support action to reduce those insane interest rates down something reasonable.
No worries, appreciate the clarification
Freep On!
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