Dow is currently in a freefall

[_Kevin Graham]

That's cool, i forget you fly by the seat of your pants.

https://www.nytimes.com/2018/11/02/busi ... tions.html

Except that article doesn't blame the market downturn on Democrats taking the House. It is like you don't really read things.

Now fess up. Which Right Wing blog entry told you that's what this article said?

[_Kevin Graham]

Jesus, DOW dips below 22,000 today for the first time in 14 months.

[_EAllusion]

This has been a real bad year for stocks. If I knew what that portended, I'd be busy making money off of that. As would everyone else. It certainly has shut up the "the stock market proves Republicans in power are great" narrative we were seeing constantly last year. That was cynically stupid from the get-go, though.

[_honorentheos]

From subbie's article:

For one thing, the administration’s timing on economic matters seems to have been off, as far as this stock market cycle goes. Last winter’s tax cut and the current, widening budget deficit have stimulated the economy, but way ahead of the typical schedule — so far ahead, in fact, that they may not help Mr. Trump’s re-election odds in 2020.

This has been the conventional economic wisdom on Trump's economic policy from day one. He threw the reserve gas on the fire at the start of his Presidency and the markets burned hot. Now they are cooling down, fast, just as his trade actions are reaching peak drag. His posturing isn't helping, everyone knows markets hate uncertainty, and the Fed has to raise rates while things are good to create space for monetary policy to be effective in the next recession. Odds we'll see one in 2019 are climbing, with the forecasting for 2020 well past even odds we'll see one by then.

Subbies move is a political one and one being telegraphed by the right wing media but not supported by any data.

Hell, subbies article came out before the midterm election occurred before anyone knew if the Democrats would take the House.

[_Chap]

Jesus, DOW dips below 22,000 today for the first time in 14 months.

I know it's Christmas Eve, but I really don't think that Jesus has anything to do with the falling DOW.

However, James (said by some to have been a brother of Jesus) might have a comment on this situation, at least from the point of view of some of Trump's backers, who must be increasingly disappointed in how their boy is performing nowadays.

Epistle of James, 5

1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.

2 Your riches are corrupted, and your garments are motheaten.

3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

4 Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.

5 Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.

6 Ye have condemned and killed the just; and he doth not resist you.

(I wonder who verse 4 might be applied to ... ?)

[_Xenophon]

It is looking like Mnuchin's call to bankers had the exact opposite result he was hoping for. I guess investors don't like when you use "alarming, crisis-like" language ¯\_(ツ)_/¯ . Couple that with a government shutdown that may run well into January and the threat of Powell being let go and it looks like all hell is breaking loose.

[_canpakes]

It is looking like Mnuchin's call to bankers had the exact opposite result he was hoping for. I guess investors don't like when you use "alarming, crisis-like" language ¯\_(ツ)_/¯ . Couple that with a government shutdown that may run well into January and the threat of Powell being let go and it looks like all hell is breaking loose.

I remember Republicans warning against Obamacare hurting the stock market on the basis that it would cause confusion and consternation for business, and that “the markets hate instability and uncertainty”.

Who knew that they’d end up electing someone capable of producing so much more instability and uncertainty?

[_Xenophon]

I remember Republicans warning against Obamacare hurting the stock market on the basis that it would cause confusion and consternation for business, and that “the markets hate instability and uncertainty”.

Who knew that they’d end up electing someone capable of producing so much more instability and uncertainty?

Surely this is all just a part of his 12D chess... right?

[_Kevin Graham]

This is now officially the worst Christmas Eve ever... and the worst December since 1931

https://www.marketwatch.com/story/the-s ... 2018-12-24

[_subgenius]

It is looking like Mnuchin's call to bankers had the exact opposite result he was hoping for. I guess investors don't like when you use "alarming, crisis-like" language ¯\_(ツ)_/¯ . Couple that with a government shutdown that may run well into January and the threat of Powell being let go and it looks like all hell is breaking loose.

I remember Republicans warning against Obamacare hurting the stock market on the basis that it would cause confusion and consternation for business, and that “the markets hate instability and uncertainty”.

Who knew that they’d end up electing someone capable of producing so much more instability and uncertainty?

spoken like someone blissfully unaware of the market.