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Dow wipes out gains under Trump’s presidency

bearpoker said:
Trump put out a travel advisory in January. He also banned some travel from China to the US. Then he sat back and did nothing. If he had spent the intervening time ramping up tests and gathering supplies I would have been impressed. He didn't do that. He squandered the time he bought with his travel ban and called the Democrats concern about the situation a hoax. There was no monitoring. Nobody was tested until late February and even then healthcare workers at the nursing home where people were dying couldn't get tested.
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Because of CDC policy established by “the deep state” over several generations.

The president is not an expert on infectious disease policy. The people who were the experts failed and I’m sure we will see accountability for that when this is over.
 
bearpoker said:
Trump put out a travel advisory in January. He also banned some travel from China to the US. Then he sat back and did nothing. If he had spent the intervening time ramping up tests and gathering supplies I would have been impressed. He didn't do that. He squandered the time he bought with his travel ban and called the Democrats concern about the situation a hoax. There was no monitoring. Nobody was tested until late February and even then healthcare workers at the nursing home where people were dying couldn't get tested.
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There was no one to test here in January.
 
EMNofSeattle said:
Europe largely handled it far worse then Trump, France, Italy, and Spain took no action at all until last week. The US was taking action and monitoring in January
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“......one person from China.......”22JAN20
 
EMNofSeattle said:
Because of CDC policy established by “the deep state” over several generations.

The president is not an expert on infectious disease policy. The people who were the experts failed and I’m sure we will see accountability for that when this is over.
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Total bull****.
 
Fletch said:
There was no one to test here in January.
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You mean besides the American citizens returning from China? Not that we had reliable tests at time time, but we could have at least quarantined them, or asked that they quarantine themselves.
 
EMNofSeattle said:
Because of CDC policy established by “the deep state” over several generations.

The president is not an expert on infectious disease policy. The people who were the experts failed and I’m sure we will see accountability for that when this is over.
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Dr. Fauci has been advising presidential administrations for many long years. Not having been there, my bet is Donald ignored his counsel in the early days.
 
EMNofSeattle said:
Because of CDC policy established by “the deep state” over several generations.

The president is not an expert on infectious disease policy. The people who were the experts failed and I’m sure we will see accountability for that when this is over.
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Are you talking about all the ones Trump fired?
NO they were the experts and Trump replaced them with people that were yes men
Have a nice day
 
Objective Voice said:
From the linked CNBC.com article:

*The Dow’s drop pushed the 30-stock index below the level where it closed on Jan. 19, 2017, the day before Trump took office.

*The sell-off may prove a tough blow to Trump, who has used the Dow as a proxy for the success of his economic agenda.

*Trump tweeted on Dec. 23 that the Dow was up 55% since his election and promised — less than three months before the market entered a bear market — that “the best is yet to come.”

I've been following the DOW in earnest since last week and saw this coming. We haven't hit bottom yet, however. The shorts are reaching down to the 18000 range. If this COVID-19 scare gets any worse, you can bet they'll hit the benchmark before too long.

Pres. Trump has to be going ballistic over this especially with the Fed rate being near zero (EQ) and nothing seems to be changing investor's minds.
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Fed rate is not near zero its zero
 
EMNofSeattle said:
I don’t think Trump is even concerned about this right now.

Right now he’s effectively managing the crisis at hand, once the virus is managed the markets will explode back.

No one except the most vehement Trump opponents will hold a market crash against him due to the Chinese Wubonic Kung Flu Plague, because you can’t show any example except maybe South Korea of a country that responded more effectively and I think as the disease begins to wane in 2-4 weeks the focus is going to shift to China because China is now responsible for like 4 pandemics and the reaction internationally is probably going to be much more pronounced. In fact if anything Chinese skeptic leaders like Trump and Jair Bolsonaro of Brazil will actually be seen as prophets of the need to seriously cut China down to size
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Once the virus is gone we will have slid straight into a full blown depression
 
ClaraD said:
Once the virus is gone we will have slid straight into a full blown depression
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No we won’t, there wasn’t at the end of the Spanish flu.

When a market downtown is caused by a specific event then once that event is over it comes back fast.
 
EMNofSeattle said:
No we won’t, there wasn’t at the end of the Spanish flu.

When a market downtown is caused by a specific event then once that event is over it comes back fast.
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The Spanish flu was in 1918...cannot compare to today.

What we know is the feds have nowhere but negative on interest rates. That's not a good thing
 
EMNofSeattle said:
No we won’t, there wasn’t at the end of the Spanish flu.

When a market downtown is caused by a specific event then once that event is over it comes back fast.
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Comes back fast? Dust bowl remind you of anything? They predict a 20% unemployment rate and that is coming from the Trump administration..
 
ClaraD said:
Comes back fast? Dust bowl remind you of anything? They predict a 20% unemployment rate and that is coming from the Trump administration..
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No, the Trump administration did not say that.

A “confidential source” claims someone said that Mnuchin said there could be. Not that it’s something that will happen.

The government is preparing a series of measures to alleviate this and its likely that once the measures mandating closure of businesses are relaxed, and they will be in 6 to 8 weeks at most because no matter how dangerous the virus is you can’t leave an entire country shut down for longer then likely economic measures will return to normal.
 
The stock market is where Obama left it.This is Obama's economy now.
 
gulfman said:
The stock market is where Obama left it.This is Obama's economy now.
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:lamo Good one! Tell Trump that. I'm sure he'll use it at his next rally, is he ever has one.
 
The shorts should be having a ball. President of the United States of America Donald Trump addresses the nation -- the market falls. He addresses the nation -- the market falls. He addresses the nation -- the market falls. There may be a pattern here, nu?
 
bearpoker said:
You mean besides the American citizens returning from China? Not that we had reliable tests at time time, but we could have at least quarantined them, or asked that they quarantine themselves.
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Why were there no tests available?
 
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Fletch said:
Why were there no tests available?
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Don't you remember? The first tests they rolled out didn't work. They could have bought test from WHO to use while developing their own tests, but they didn't.
 
bearpoker said:
Don't you remember? The first tests they rolled out didn't work. They could have bought test from WHO to use while developing their own tests, but they didn't.
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Why didnt they work?
 
EMNofSeattle said:
The president is not an expert on infectious disease policy. The people who were the experts failed and I’m sure we will see accountability for that when this is over.
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Shorter, EMN: "Why even have a President?"
 
Torus34 said:
The shorts should be having a ball. President of the United States of America Donald Trump addresses the nation -- the market falls. He addresses the nation -- the market falls. He addresses the nation -- the market falls. There may be a pattern here, nu?
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Harder to predict than it looks consistently though. Some times he did do an address and it went up.
 
EMNofSeattle said:
I don’t think Trump is even concerned about this right now.

Right now he’s effectively managing the crisis at hand, once the virus is managed the markets will explode back.

No one except the most vehement Trump opponents will hold a market crash against him due to the Chinese Wubonic Kung Flu Plague, because you can’t show any example except maybe South Korea of a country that responded more effectively and I think as the disease begins to wane in 2-4 weeks the focus is going to shift to China because China is now responsible for like 4 pandemics and the reaction internationally is probably going to be much more pronounced. In fact if anything Chinese skeptic leaders like Trump and Jair Bolsonaro of Brazil will actually be seen as prophets of the need to seriously cut China down to size
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Trump seems to have come to a few realizations this week, including he can no longer run on the stock market or the economy. All he can run on is his handling of the current crisis.
 
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