Maybe Trump is wrong?

[2thDoc]

I know its hard for many of you to fathom bc of your mancrush.
I care about wasteful government spending, but I care a lot more about my tax burden.
When is the savings coming my way?
I was tired of him saying how great he was after a couple of days. I am really tired of watching the stock market tank. I have lost 6% in the last 90 days. While I am on the "TRUMP TRAIN", I sure wish it was a smooth ride.

I am 100% sure you folks will come back with the "its gonna hurt a little while he gets stuff straight"--I aint falling for it.

How does igniting a trade war with our allies help me buy a car at a decent price?
I am also 100% sure y'all have a witty, repetitive comeback for that one, too. Que the Fox News rhetoric.

Oh wait. Some (Rs) are saying bad things about Trump? say it isnt so....

While many of yall are blind followers, I dont have that kind of faith. I call it like I see it....and I dont like what I see.

And please dont bring up conspiracy bullshit. Epstein stuff is all out there, no spy balloons (kids science projects) or .gov drones are overhead, and my chickens seem to be laying eggs. and no trump aint done shit with the "deep state" and never will....

[Hardwoods]

You have to call him so he knows you give a shit!

[dixiedeerslaya]

send him an email*

[ecu1984]

401k is tanking daily
but the price of eggs, groceries and gas sure are coming down
oh, wait, never mind. I forgot he is playing chess while we are playing checkers.

[DoubleSprig]

Could also be its your investment strategist that may be wrong.

**edit to add**
Pelosi’s guy comes strongly recommended.

[hunterjw]

Stock valuations are crazy high. Regardless who is in office there is a time of reckoning coming. I saw somewhere they had a valuation comparison to a regular product you would buy. Pretty eye opening.

At the end of the day, neither party is solving our healthcare issue nor the national debt.

[Catdaddy]

He should have stuck with Larry Kudlow for advice again this term.

Sent from my motorola edge 2024 using Tapatalk

[JABIII]

[Remy]

Our economy is extraordinarily complicated. It is also built on credit being very easy to get. I don't get wrapped in the day to day news cycle so I can't comment on Trump's rhetoric. The only thing I do know is that if you want the US to change, it will be mighty painful to do so. You can't gently unwrap 75 years of bad policy and not expect it to hurt. You ether rip the band aid off and see if we can salvage things, or you just keep it easy, continue to kick the can down the road and hope it doesn't collapse on itself. I can see from this thread and from the talks of my friends that the US doesn't have the stomach for real change.

[Gander]

I'm not happy with the current state of the stock market. My 401k is taking a beating but I'm certain it will come back just like it did after the Covid crash.

Savings are all about balancing our budget. We can't keep running up debt at the current rate. We are paying a trillion dollars a year just on the interest now. That means less money for our defense and other government programs. Or the prospects of our taxes going up. It's time to start paying it down and acting responsible.

Not big on tariffs but the idea of reciprocal tariffs makes a lot of sense. Other countries could reduce them if they don't like them.

[walt4dun]

I think he is a gross pompous yankee that talks a lot of shit ... we'll see if he can back it up. Not liking this flip flopping rhetoric to our friends and allies...

[Black Bart]

You clearly woke up and chose violence this morning.

[Remy]

I don't know why people are so caught up on the stock market. It goes up and down all the time. Never make emotional decisions on the stock market. You have to look at it long term. There are plenty of short term periods where it is crazy high or crazy low. If you are that worried about losing money in the stock market you probably should stick to money markets and T bills. And don't give me that crap about being close to retirement. Your portfolio should reflect that and account for fluctuations. Basing any decision or feeling about the short term stock market condition is just silly.

[willk]

You clearly woke up and chose violence this morning.

LOL. That was funny.

[JABIII]

2th ain't worried about the stock market. Remember, he is the one that has been telling you for 30 years to dump all of your cash in and don't worry, it will always go up. Either he has lost out on the grift somewhere, or he is trolling as per usual...

Markets
Dow plunges 10% amid coronavirus fears for its worst day since the 1987 market crash

Published Wed, Mar 11 2020

Stocks plunge as coronavirus fears accelerate—Here’s what seven experts say investors should watch
Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.

The Dow Jones Industrial Average
closed 2,352.60 points lower, or 9.99%, at 21,200.62. The index had its worst drop since the 1987 “Black Monday” market crash, when it collapsed by more than 22%.The S&P 500
plummeted 9.5% to 2,480.64, joining the Dow in a bear market. The S&P 500 also had its worst day since 1987. The Nasdaq Composite
closed 9.4% lower at 7,201.80.

“The coronavirus is scary and people don’t know what to expect,” said Kathy Entwistle, senior vice president of wealth management at UBS. “It’s like the tsunami is coming. We know it’s going to hit any day and nobody knows what the outcome is going to be.”


The major averages got a brief respite during the trading day after the Fed announced it will ramp up its overnight funding operations to more than $500 billion on Thursday. It will then offer more repo operations totaling $1 trillion on Friday. The Fed also expanded the types of securities it would purchase with reserves.

However, stocks quickly traded back towards their session lows as investors awaited more aggressive measures to support the economy and target the virus outbreak directly.

“These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” said the statement from the New York Federal Reserve, which conducts these operations on behalf of the Fed.

Trading was halted at one point
Thursday’s sell-off got so bad, that trading was halted briefly after the open for 15 minutes as markets hit the mandated “circuit-breaker” threshold used by U.S. exchanges. Despite the halt, the Dow went on to notch its fifth-worst decline in its history, according to FactSet. Even the worst one-day drop of 2008 financial crisis did not reach this magnitude.

Not much was immune to the financial market plunge. Small-cap benchmark the Russell 2000 index
cratered by 11%. Gold fell. Oil plunged. Credit market spreads widened significantly. Even U.S. Treasurys, a reliable safe haven earlier in the sell-off, ended Thursday lower.

“We are going into a global recession,” said Mohamed El-Erian, chief economic adviser at Allianz, on CNBC’s “Squawk Box.” “After what’s been happening the last few days, we are going to see a spread of economic sudden stops.”

“The trouble with economic sudden stops is it’s not easy to restart an economy,” El-Erian said. He believes the selling won’t stop until the bear market hits down 30%.

In his address, Trump announced travel from Europe will be suspended for 30 days as part of the government’s response to the coronavirus outbreak. Trump also said the administration would provide financial relief for workers who are ill, caring for others due to the virus or are quarantined.

These moves were not enough for investors, however, who were looking for a more targeted fiscal response to address the issue slower economic growth stemming from the coronavirus.

“President Trump in an extraordinary Oval Office address didn’t offer up major new ideas on stimulus and only said he’d propose a vague payroll tax holiday to Congress without strongly standing up for any firm size/magnitude,” wrote Ernie Tedeschi, policy economist for Evercore ISI, in a note. “This effectively kicks the issue to Congress.”

Cruise line shares dropped sharply. Royal Caribbean closed 31.8% lower while Carnival and Norwegian Cruise Line slid 15% and 20.7%, respectively. Airline shares such as United, Delta and American all fell more than 21%.

Bull market officially ends
The S&P 500 officially closed in a bear market on Thursday, down more than 26% from its record high set just last month. The Dow ended its historic 11-year bull market run a day earlier on Wednesday. A bear market marks a 20% decline from all-time highs. Now


Trading was halted for 15 minutes shortly after the open as an initial 7% drop triggered one of the “circuit breakers” at the New York Stock Exchange and Nasdaq. Before the open, futures contracts overnight tied to the major indexes fell to their so-called limit down thresholds, sliding 5%. These limit down levels act as a floor for selling until regular trading begins. They are used to ensure orderly markets. The halts did not stop the major averages from falling even further.

The Cboe Volatility Index (VIX), widely considered the best fear gauge on Wall Street, jumped to more than 76 and hit its highest level since 2008.

Also causing concern about how pervasive the virus could already be in this country was the announcement Wednesday that the National Basketball Association is suspending its season after a Utah Jazz player tested positive for coronavirus. Movie actor Tom Hanks and his wife, Rita Wilson, also said they tested positive for the coronavirus.

“The crux of the angst investors are feeling as the coronavirus spreads surrounds what might happen to consumer spending,” wrote Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

“Consumers sitting at home and not out spending money because they fear catching the coronavirus is the ultimate negative outcome,” he added. “It has been the U.S. consumer who has been driving the recovery bus during this long expansion.”

Thursday’s plunge came after yet another wild session on Wall Street and the demise of the Dow’s record-setting bull market run that began in March 2009. The blue-chip index tumbled 1,464.94 points, or 5.9%, to close at 23,553.22. The 30-stock average closed in a bear market, putting to end an expansion that started in 2009 amid the financial crisis. The Dow also plummeted more than 2,000 points on Monday.


https://www.cnbc.com/2020/03/11/futu...ait-trump.html

[Roddie]

You clearly woke up and chose violence this morning.

I thought the same thing as soon as I saw the title. We got 2thPac today

[Silentweapon338]

Heck I made money during Corona. I pulled out just before the fall. I left some long term stuff in which faired well. I got back int he day oil went negative. You talk about something that has been lucrative!

And Yes, I made money on Game stop & AMC as well. No, I don't have diamond hands. I don't mind selling when you get to nose bleed levels!

[Air Raid]

During the Biden administration/farce they loved to talk about how high the stock market was and how our economy was booming. In reality the whole thing was being led by about 6-8 very large stocks such as Facebook. The common man's stock options were suffering.

[Silentweapon338]

[Buckin Bronco]

Am I happy that prices on daily goods haven’t dropped? No

Do I believe that some of the manufacturing he wants to bring back home through tariffs should have been setup before implementing tariffs? Yes

Am I happy my fiance isn’t getting the raise she was supposed to bc of the tariffs? No


But all that and more to say, he’s been in office two months. I know that I don’t understand global or domestic large scale economics but I do understand that there are growing pains when making improvements. Or at least that’s what I’m telling myself.