News Dow bouncing around -1000

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Jan 25, 2011
16,694
8,896
146
Futures pointing to another 400 point slide to open the DOW on Friday.
European markets are down about 3% today on average. Asiam markets 3.5-4%.

The Dow has come back up a bit but yeah, another fun day from the looks of it. Biotechs are about to have a great day, however.
 

Vic

Elite Member
Jun 12, 2001
50,422
14,336
136
On a positive note, oil prices and interest rates are low.
 

VRAMdemon

Diamond Member
Aug 16, 2012
7,017
8,544
136
Dow futures went from positive to negative during Trump's press conference.

The press conference was a mistake. It was Trump trying to reassure the nation. The absolute worst thing he could do is remind people that he's the President.

It's been pointed out that this is the first crisis he's had to deal with that wasn't completely of his own making - precisely the situation we were all afraid of in the first place.
 

TheVrolok

Lifer
Dec 11, 2000
24,254
4,090
136
Dow futures went from positive to negative during Trump's press conference.

The press conference was a mistake. It was Trump trying to reassure the nation. The absolute worst thing he could do is remind people that he's the President.

It's been pointed out that this is the first crisis he's had to deal with that wasn't completely of his own making - precisely the situation we were all afraid of in the first place.
Turns out, if our institutions (Healthcare related) manage Coronavirus appropriately, the natural course of the disease isn't significantly changed, and the markets show any sign of recovery... Trump's reelection is almost guaranteed?

Maybe it'll trigger a longer term correction which is due anyway, I guess we'll see.
 

Bitek

Lifer
Aug 2, 2001
10,676
5,238
136
Dow futures went from positive to negative during Trump's press conference.

The press conference was a mistake. It was Trump trying to reassure the nation. The absolute worst thing he could do is remind people that he's the President.

It's been pointed out that this is the first crisis he's had to deal with that wasn't completely of his own making - precisely the situation we were all afraid of in the first place.

I'd amend this to say it's the first non self created crisis that he can't lie and gaslight his way out of (although Trump and Fox are trying their hardest..)

Hurricane Maria and the destruction of PR is the obvious example of this point.
 

VRAMdemon

Diamond Member
Aug 16, 2012
7,017
8,544
136
I'd amend this to say it's the first non self created crisis that he can't lie and gaslight his way out of (although Trump and Fox are trying their hardest..)

Hurricane Maria and the destruction of PR is the obvious example of this point.

Agreed...Better wording. Hurricane Maria also qualifies. And we saw his reaction to that.
 

Bitek

Lifer
Aug 2, 2001
10,676
5,238
136
Agreed...Better wording. Hurricane Maria also qualifies. And we saw his reaction to that.

My prediction will be he will keep this line of attack and gaslighting up all the way through November if the virus subsides and we avoid a serious crisis.

Me me me me me me me me me.
That's his only gear.
 

UNCjigga

Lifer
Dec 12, 2000
24,932
9,218
136
Dow is down 800 points in the first 8 minutes. For anyone hoping for a late Friday rally, we’re off to a bad start.

At what point does Trump try to intervene and suspend trading??
 

K1052

Elite Member
Aug 21, 2003
48,045
37,234
136
Turns out, if our institutions (Healthcare related) manage Coronavirus appropriately, the natural course of the disease isn't significantly changed, and the markets show any sign of recovery... Trump's reelection is almost guaranteed?

Maybe it'll trigger a longer term correction which is due anyway, I guess we'll see.

Uh I think the problem is that the Trump admin has had three years to run anybody out of government that offered the slightest whiff of resistance to bad and dangerous ideas like crippling the health agencies and offices that deal with just this kind of scenario. Now he's trying to silence them by making everything go through Pence in the hope it's going to simply disappear if nobody in the government talks about it.

The presumption that we've got an organized government response on par with our expectations I think is an unfounded assumption to make at this point.
 

fskimospy

Elite Member
Mar 10, 2006
85,620
50,819
136
Uh I think the problem is that the Trump admin has had three years to run anybody out of government that offered the slightest whiff of resistance to bad and dangerous ideas like crippling the health agencies and offices that deal with just this kind of scenario. Now he's trying to silence them by making everything go through Pence in the hope it's going to simply disappear if nobody in the government talks about it.

The presumption that we've got an organized government response on par with our expectations I think is an unfounded assumption to make at this point.

I think the idea we are going to have some massive outbreak is also an unfounded assumption. We very well may but it's far from certain. My gut says this whole thing has pretty limited upside for Trump and very serious potential downsides. If the outbreak doesn't happen in any significant way people will probably have forgotten by November. If the outbreak is bad he looks incompetent. Seems the only way it ends up good for Trump is if the outbreak is pretty bad in a lot of other places but not bad here.
 

K1052

Elite Member
Aug 21, 2003
48,045
37,234
136
I think the idea we are going to have some massive outbreak is also an unfounded assumption. We very well may but it's far from certain. My gut says this whole thing has pretty limited upside for Trump and very serious potential downsides. If the outbreak doesn't happen in any significant way people will probably have forgotten by November. If the outbreak is bad he looks incompetent. Seems the only way it ends up good for Trump is if the outbreak is pretty bad in a lot of other places but not bad here.

The scale of the outbreak is almost besides the point now. The admin's credibility bank has been overdrawn for a long time. If the markets keep tanking like this it's going to eventually spread into a general panic and Trump's got no way to stop it. The real economic damage is mounting as the travel sector burns down and manufacturers start running out of stock and components to build. Retail and entertainment are the next to start going down and I take no pleasure in that since it directly impacts my business.
 
Reactions: DarthKyrie

Homerboy

Lifer
Mar 1, 2000
30,859
4,976
126
*sigh*

Anyone know of places hiring? Anyone?


I work in the collections industry. A (short) recession actually helps us... though I don't want it to happen.
I'm guessing the health care industry will be looking for lots of extra hands in the near future too
 

Bitek

Lifer
Aug 2, 2001
10,676
5,238
136
Holy buttfk Batman. Down another 800, wait 900, wait...1000...

Going to stop looking now
(no, I won't.)
 
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