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Dow closes down 800 points

Discussion in 'Latest Political News and Current Events' started by Bugsy McGurk, Aug 14, 2019.

  1. Bugsy McGurk

    Bugsy McGurk President

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  2. Bugsy McGurk

    Bugsy McGurk President

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  3. llovejim

    llovejim Current Champion

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    it is weird that right wingers somehow do not understand almost all of this market madness is due to trump being such a flaky incompetent goon when it comes to economics and not having a basic understanding of how the world works? yeah, he cut taxes for the rich, which led to such huge ass deficits even when unemployment is about as low as it can get, and we are not stuck in any major wars or troops in combat, but how does that help the middle class and working poor and reduce our huge debt and huge deficits he promised he would cut to zero?
     
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  4. Bugsy McGurk

    Bugsy McGurk President

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    In the end, it’s the result of the GOP’s endless shifting of wealth to the already wealthy. If all that tax relief has been shifted to ordinary consumers the economy would be humming along (albeit with long term deficit increases, but not as bad). Our economy needs healthy demand to thrive. With each passing year the GOP shifts more wealth to the wealthy. It’s a recipe for economic disaster.
     
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  5. 4/15

    4/15 Mayor

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    Make America Grovel Again is the GOP pass code.
     
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  6. bdtex

    bdtex Administrator Staff Member

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    I might buy tomorrow if it goes down some more.
     
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  7. Nostra

    Nostra Governor

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    Wait....what?????

    Are you crazy enough to think the market might go back up?
     
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  8. RickWA

    RickWA Senator

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    Dunno if this is the front end indicator of an overdue correction or merely some momentary volatility, but the long term play is the smart play. Same as it ever was.

    Our social fabric will break down before the economic complex will. We may hate each other (as we all denounce “hate”), but $$ is $$.
     
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  9. bdtex

    bdtex Administrator Staff Member

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    Of course. Eventually it will. I'm not looking to draw anything out either for about another 6 years.
     
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  10. PhilFish

    PhilFish Administrator Staff Member

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    Smart money is on buy
     
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  11. bdtex

    bdtex Administrator Staff Member

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    Don't know quite what to make of it myself,but my financial advisors tell me that the general market forecast for the rest of this year is good. I am still playing long term too.
     
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  12. Bugsy McGurk

    Bugsy McGurk President

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    Always chancy - the people who bought at the beginning of the epic GWB economic collapse got slaughtered unless they were able to hold on until the Obama era recovery. Is this the beginning of the Trump collapse? Hard to say at this point.
     
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  13. bdtex

    bdtex Administrator Staff Member

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    I bought what I could and held on. Didn't have as much disposable income at the time.
     
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  14. FakeName

    FakeName Mayor

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  15. Bugsy McGurk

    Bugsy McGurk President

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  16. Nostra

    Nostra Governor

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    So you agree this thread is fearmongering idiocy,
     
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  17. bdtex

    bdtex Administrator Staff Member

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    No. He could be right for now. It could go down and stay down for awhile before it goes back up. And rising financial markets doesn't help everyone,just as a decline doesn't hurt everyone.
     
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  18. Bugsy McGurk

    Bugsy McGurk President

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    Nah, the thread is not about fear, although the Trump madness provides plenty to fear.

    The central point in the TP is Trump’s insane dodging of any blame - his Twitter tirade blaming market plunges on the Fed, which just further lowered the already low rates.
     
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  19. JuliefromOhio

    JuliefromOhio Senator Supporting Member

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    Lawrence O'Donnell reminded us when the economy was tanking in 2007/08, Bush's Hank Paulsen went to Nancy Pelosi and begged her to help forestall a crash. She did.

    Now we have Trump who knows nothing plus he has no one in his admin who qualifies as a legit economist. Gene Sperling said Trump is like a drunk driver, reckless, so just his being president is a threat to our and the world's economy. God help us!
     
  20. JuliefromOhio

    JuliefromOhio Senator Supporting Member

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    Trump has no fvcking idea what "inverted yield curve" means.

    [​IMG] Donald J. Trump‏Verified account @realDonaldTrump


    ..Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!

    12:21 PM - 14 Aug 2019
     

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