Australian stocks end Monday down 7.33%, worst day since the last ‘pub prez & their patented market crashes.
Australian stocks end Monday down 7.33%, worst day since the last ‘pub prez & their patented market crashes.
Joe Blow wrote:
As much as I support Trump and overall like his policies, it’s become ever increasingly clear that the subsequent market impact from the Coronavirus is most likely going to be his undoing. Sometimes as president it’s about being at the right place at the right time and if it was a Dem President it Ulsan be their undoing as well.
ah excellent another american who supports child separation, aiding Russia, praising dictators, child separation, weakening environmental protections, taking away health insurance, gigantic deficits, suing the free media, asking foreign nations to interfere in elections and welcoming the help when it comes, lying, lying, lying, slowing job markets, garbage stock markets, threatening judges, alienating allies, praising racists, using racism, dividing the country. . Those are some A plus policies to support.
You sir, are an american. RIght in the lindberg, father coughlan mode. We've had a lot of those over time and you fit right in. Congrats.
betting odds now have, for the first time, an even race for the WH. Has been leaning R all year.
https://www.predictit.org/markets/detail/2721/Which-party-will-win-the-2020-US-presidential-election
moderates suck wrote:
I believe Mike Bloomberg said when he dropped out that he was going to continue to fund all of his campaign workers, field offices, etc. through November to back the Democratic nominee.
Last night I walked by the local Bloomberg field office for the first time since Super Tuesday. It is empty. No furniture, no nothing.
I don't know if that goes beyond my city or whether he is actually paying his campaign workers here or not.
IIRC campaign-finance laws will limit what BB can do here.
Mike was self-funding his campaign. The law has no problem with that.
But if he were then to have his whole organization start supporting/working for Biden, that would be a campaign "contribution" far in excess of what's allowed.
kibitzer wrote:
moderates suck wrote:
I believe Mike Bloomberg said when he dropped out that he was going to continue to fund all of his campaign workers, field offices, etc. through November to back the Democratic nominee.
Last night I walked by the local Bloomberg field office for the first time since Super Tuesday. It is empty. No furniture, no nothing.
I don't know if that goes beyond my city or whether he is actually paying his campaign workers here or not.
IIRC campaign-finance laws will limit what BB can do here.
Mike was self-funding his campaign. The law has no problem with that.
But if he were then to have his whole organization start supporting/working for Biden, that would be a campaign "contribution" far in excess of what's allowed.
I am not a campaign law expert, but my understanding is that he can run his organization as a Super-Pac and spend as much money as he wants as long as he doesn't explicitly coordinate with the Biden campaign.
Anyway, my post wasn't to debate the fine points of campaign finance law, merely to report that what I am seeing on the ground in my city does not match up to what the press lead me to believe Mr. Bloomberg's commitments were as far as keeping his offices open.
Who knows, maybe it will reopen later on. Maybe it is just one office that closed.
Bloomberg’s main problem is he’s a liar.
His only goal now is to stop socialism; I guess it’s working, though the virus may yet get us healthcare.
We have 2 delays on the way to a 20% drop in stocks, which would close trading for the day.
Seems like a perverse incentive to sell out while you have a chance to do so.
Japan already in a bear market.
Still trust the “market” to handle your healthcare?
It's only March.
The coronavirus panic and related market drop happening at the moment will not likely have an impact on the November election unless it keeps expanding though the summer. And that would be a serious issue.
In fact, there more likely will be a stock rebound once the rate of new cases slows down.
Then Trump will be pointing at that upward trend.
The thing that will prevent a Trump re-election is a strong and prevalent hatred of Trump.
There will be plenty of issues conservatives will have with Biden or Sanders but they will not be hated the way Hillary was and the way Trump is.
Trading isn’t suspended in London, now down 8%.
Forget the markets for now, what is the real impact that people may feel?
Travel is down. That hurts airlines and anywhere that relies on tourism.
There are talking about sporting events without an audience. That hurts revenue for vendors and such.
Business production could go down if workers stay home.
Mall and restaurant traffic may go down, hurting businesses.
The next question is, will businesses consider layoffs to save costs to hedge on losses?
The US economy is very service based. People get out of their houses to things and spend their money.
Amazon will do great as people stay home and order online. I'm sure Trump is happy about Bezos' fortune. And Trump cut taxes for Amazon, too.
But as I said, as this passes, Americans will be bursting to get out and do things.
I don't see it as the snowball affect of the housing crash because the services being affected are not overpriced right now.
The problem is people & businesses don’t have stacks of cash. Their short-term obligations can stack up rapidly, though.
The solution is a gov’t bailout, but this time we’re ready. It’s taxpayer money & we want a safety for individuals, too.
L L wrote:
The next question is, will businesses consider layoffs to save costs to hedge on losses?
I think that's it in a nutshell.
Eight months (until the election) is a long time, esp. in the context of this thrill-a-minute administration. By itself a "reset" of stock prices--given that many stocks prevously seemed to be overvalued--is not a huge problem; the (potential) problem is that some people lose jobs or otherwise stop spending.
For an economy like ours that is founded on consumerism, a significant drop in individual spending could have effects that would last to the election and (well?) beyond.
kibitzer wrote:
L L wrote:
The next question is, will businesses consider layoffs to save costs to hedge on losses?
I think that's it in a nutshell.
Eight months (until the election) is a long time, esp. in the context of this thrill-a-minute administration. By itself a "reset" of stock prices--given that many stocks prevously seemed to be overvalued--is not a huge problem; the (potential) problem is that some people lose jobs or otherwise stop spending.
For an economy like ours that is founded on consumerism, a significant drop in individual spending could have effects that would last to the election and (well?) beyond.
oil patch jobs are going to melt away. Which will hurt trump in key states TX and PA.
Esp those shale jobs in PA...those companies are being deliberately nuked by Saudi.
Oh, and the Dow is down 6+% in early trading. Umm, yikes?
kibitzer wrote:
Oh, and the Dow is down 6+% in early trading. Umm, yikes?
https://www.google.com/search?q=the+dow+today&rlz=1C1GGRV_enUS751US751&oq=the+dow+today&aqs=chrome..69i57j0l7.7614j0j15&sourceid=chrome&ie=UTF-8
Wait. Sally said the stock market was all better now. How can this possibly be?
The Dow is now down 14.4% in 2020. Thanks a lot Trump!
remember all, Rigged thinks that this is the year black voters desert the Republican Party.