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#321942 - 02/25/20 07:25 PM Good News!
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3239
Loc: Port Angeles, WA
yesterday the stock market (DOW) went down over 1000 points, I looks as if today isn't going to be all that much better. The good news is that our Ruling Jackass Trump announced yesterday that its a great time to be buying stocks and its all under control.

Its also great news for the Dems. If the economy tanks they will actually stand a chance in beating Trump. The downside is that all this will probably confuse them and they will be frozen by the wide range of responses available to them. <sigh>

Just saying..............


Edited by jgw (02/25/20 07:25 PM)

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#321950 - 02/25/20 08:07 PM Re: Good News! [Re: jgw]
Jeffery J. Haas Offline
It's the Despair Quotient!
Carpal Tunnel

Registered: 08/03/04
Posts: 15728
Loc: Whittier, California
Another day, and it looks like another thousand down on the DOW.
Yesterday erased all the gains Trump claimed for the year to date, and today's loss doesn't bode well for his claim that the economy is booming.

In the meantime Trump is holding fast to his conviction that the virus is no big deal. The Great End Times Transfer of Wealth to the Righteous continues apace.

I'm certain Trump's bubble-headed bleach blonde religious guru is telling him this is God saving America, and that the virus will only kill libtards, and that he should let the good work continue, and not worry - - Je-hey-zuss will save us!
_________________________
"The Best of the Leon Russell Festivals" DVD
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#321958 - 02/25/20 09:42 PM Re: Good News! [Re: jgw]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3239
Loc: Port Angeles, WA
The transfer to wealth has been going on for a VERY long time! I am not sure why. I remember, a while ago, when a guy in Washington State won the lottery. He decided to really get rich and spent all his money on dry cleaning plants.

I can remember, a long time ago, when there were a lot of discussions on how much more a company owner, or manager, makes than his/her workers. There was an argument that would limit that. Now the sky is the limit and there is no longer any discussions like that. I always thought that setting a limit, and sticking to it, was the way to go. I used to have a company where my employees were making more than I. I sold the company off because a friend of mine, he owned a logging company, told me that anybody who had employees that made more than he was crazy. I believed him. I just read some facts on the guy who owns Amazon and it was insane. Here it is (its kinda depressing) - I tend to dote on kickassfacts.com:
https://www.kickassfacts.com/8-crazy-facts-about-jeff-bezos-wealth/


the guy who bought the dry cleaning plants isn't rich anymore. This seems to be the human way. I somehow doubt its going to end real soon. I, hopefully, have enough to keep me alive. My wife, however, says she needs to spend everything so the kids don't get anything. The really strange part is that she isn't really doing that so the question becomes "why would she say that?" Well, used to be. I decided, after 58 years, to not listen or care because some mysteries will remain no matter what.

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#321978 - 02/26/20 04:16 PM Re: Good News! [Re: jgw]
chunkstyle Offline
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Registered: 10/02/07
Posts: 2356
I’ve always wondered about the politics of benefitting off of others misery to win elections. It’s the same reactionary politics that’s defined both political factions.

Michael Hudson has s good peice out. As a historical political economist he’s drawn some interesting parallels to today’s political battle:

“All this sounds like Rome at the end of the Republic in the 1stcentury BC. The way Rome’s constitution was set up, candidates for the position of consul had to pay their way through a series of offices. The process started by going deeply into debt to get elected to the position of aedile, in charge of staging public games and entertainments. Rome’s neoliberal fiscal policy did not tax or spend, and there was little public administrative bureaucracy, so all such spending had to be made out of the pockets of the oligarchy. That was a way of keeping decisions about how to spend out of the hands of democratic politics. Julius Caesar and others borrowed from the richest Bloomberg of their day, Crassus, to pay for staging games that would demonstrate their public spirit to voters (and also demonstrate their financial liability to their backers among Rome’s One Percent). Keeping election financing private enabled the leading oligarchs to select who would be able to run as viable candidates. That was Rome’s version of Citizens United.

He goes on to make the case for the necessity of splitting the Democratic Party if there’s any hope of having democracy as a political framework.
Also, how Trump is now the Democratic Party Defacto candidate for 2020 much as it was in 2016 for party leadership.

https://www.nakedcapitalism.com/2020/02/...-must-give.html


Edited by chunkstyle (02/26/20 04:17 PM)

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#321991 - 02/26/20 07:30 PM Re: Good News! [Re: jgw]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3239
Loc: Port Angeles, WA
Just for he heck of it I would point out that the market is down, today, again. Not only that but oil AND gold are also going down. This is, incidentally, pretty strange. The question becomes; "what do you do when EVERYTHING is losing value?"

On the upside, the markets have lost in excess of a TRILLION dollars so far. Something like this could start a serious downturn in the economy and, as Don Junior has said, this could effect daddy's plans for winning the election if it continues. I, incidentally, hate it when Junior says anything that makes sense <G>

According to Trump the best thing we can all do is to jump right into the market and buy up all them stocks while they are low and THEN we will ALL get RICH! (when toads fly?)

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#321993 - 02/26/20 08:10 PM Re: Good News! [Re: jgw]
pondering_it_all Offline
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Registered: 02/27/06
Posts: 9833
Loc: North San Diego County
Quote:
what do you do when EVERYTHING is losing value?


I divested into cash near the beginning of the Trump administration, since I saw Trump's actions as a giant Black Swan Event just waiting to happen.

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#321999 - 02/26/20 08:52 PM Re: Good News! [Re: jgw]
logtroll Offline
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Registered: 04/26/10
Posts: 10151
Loc: One of the Mexicos
Originally Posted By: jgw
The question becomes; "what do you do when EVERYTHING is losing value?"

I would ask, "Did those things actually have value?"
_________________________
“You never change things by fighting the existing reality.
To change something, build a new model that makes the old model obsolete.”
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#322016 - 02/26/20 10:37 PM Re: Good News! [Re: pondering_it_all]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3239
Loc: Port Angeles, WA
and you were right on the mark. We have been doing that slowly since he came into power and are just about all out. I suspect this may be the end of the Trump (so called) economy. No surprise. He has now run up the debt to be higher than our GDP which, in some circles, is the line not to be crossed.

Now he is trying to balance the deficit by attacking Medicare, Medicaid and Social Security. I wonder what his true believers are going to behave when they find out they no longer have Medicare (based on the obvious age of those standing behind him at his rallies).

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#322031 - 02/27/20 03:00 AM Re: Good News! [Re: jgw]
CPWILL Offline
newbie

Registered: 12/26/19
Posts: 336
Originally Posted By: jgw
and you were right on the mark. We have been doing that slowly since he came into power and are just about all out. I suspect this may be the end of the Trump (so called) economy. No surprise. He has now run up the debt to be higher than our GDP which, in some circles, is the line not to be crossed.

Now he is trying to balance the deficit by attacking Medicare, Medicaid and Social Security. I wonder what his true believers are going to behave when they find out they no longer have Medicare (based on the obvious age of those standing behind him at his rallies).


I'll be honest. If I actually thought for a second he could reform the entitlements, I'd consider voting for the man.
_________________________
Winter Is Coming

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#322034 - 02/27/20 03:08 AM Re: Good News! [Re: CPWILL]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 16845
Loc: Florida
We'll see some impressive entitlement reforms under President Sanders.
_________________________
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#322046 - 02/27/20 05:22 AM Re: Good News! [Re: pondering_it_all]
danarhea Offline
stranger

Registered: 02/26/20
Posts: 34
Originally Posted By: pondering_it_all
Quote:
what do you do when EVERYTHING is losing value?


I divested into cash near the beginning of the Trump administration, since I saw Trump's actions as a giant Black Swan Event just waiting to happen.


Depends on how you play the market. Risky investors can lose everything they have. Smart investors can come out way ahead. I have 2 brothers who are millionaires. The first one, Steve, owned an Edward Jones in Stuart Florida, and is retired now. While everybody else was going for huge returns on their investment, Steve invested his client's money in safe stocks like Campbell's Soup, Proctor & Gamble, and other name brands. My brother Mel is one of them. Both Steve and Mel came out OK and didn't lose money when the crash of 2008 happened. Steve's clients came out well too. Not one of them lost his or her ass. Steve is a millionaire now. Mel will become a millionaire in April of this year. NOTE: Both voted for Trump in 2016. Both are now Never Trumpers. I'm proud of them both. LOL.

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#322237 - 02/29/20 04:14 PM Re: Good News! [Re: Greger]
CPWILL Offline
newbie

Registered: 12/26/19
Posts: 336
Originally Posted By: Greger
We'll see some impressive entitlement reforms under President Sanders.


Doubtful. Presidents depend on Congress to pass legislation - Bernie's wild-eyed promises have even less chance of passing than Trump's claim that he was going to totally replace Obamacare with something Bigger Better More Beautiful You're Not Gonna Believe It.

In the meantime, a Bernie Presidency would allow the GOP to quickly redefine itself in a post-Trump atmosphere in the context of opposition to Socialism, and it is extremely likely that they would see a 2010-dque Congressional/State wave in 2022 as the country pulls back from the Far Left president they just elected mostly to be rid of a vile troglodyte.


Edited by CPWILL (02/29/20 04:16 PM)
_________________________
Winter Is Coming

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#322239 - 02/29/20 04:54 PM Re: Good News! [Re: CPWILL]
Jeffery J. Haas Offline
It's the Despair Quotient!
Carpal Tunnel

Registered: 08/03/04
Posts: 15728
Loc: Whittier, California
Originally Posted By: CPWILL


In the meantime, a Bernie Presidency would allow the GOP to quickly redefine itself in a post-Trump atmosphere in the context of opposition to Socialism


So essentially "1938 all over again", right?
Congress just had to send a message to FDR that they were not about to "take any more of his new deal sh*t", and they wound up extending the Depression a little longer by refusing to implement much of his fiscal agenda as a thumb in the nose at him.
_________________________
"The Best of the Leon Russell Festivals" DVD
deepfreezefilms.com

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#322243 - 02/29/20 05:42 PM Re: Good News! [Re: jgw]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 17387
I went with my son to Edward Jones to start his investment portfolio yesterday. Yup, buying into the market Tuesday. My hope is we're close to the bottom of the panic and that the spread of the coronavirus is not as bad as it currently looks. But, he's investing during a dip and holding on for the long haul (5+ years). 1/3 is going in a Roth IRA. I'm proud of him for taking the plunge, and thinking long term.

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#322246 - 02/29/20 06:03 PM Re: Good News! [Re: jgw]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 17387
I think the thing to keep foremost in one's mind is this: Trump is, literally, a moron. The country and economy have survived his Residency so far, and will continue to do so. We've hit the predictible/widely predicted rough patch, and it will get worse before it gets better. But it will get better. He has demonstrated that the most incompetent, destructive boob of a president can't destroy everything (unless, God forbid, he's reelected), but he has done severe damage.

Underlying the economy, though, is a solid core. We may be eclipsed as the largest economy, but the fundamentals are sound, and we can remain the main player if we don't lose our heads.

Underlying our government is a belief in the system. If we focus on that belief, and repairing the damage, we could be like Steve Austin, and arise "better than we were". We may have to jettison the deplorables to get there, but so be it. Today, at least, I'm not as depressed.

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#322247 - 02/29/20 06:06 PM Re: Good News! [Re: NW Ponderer]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 16845
Loc: Florida
Good boy! My daughter is making payments on engagement rings.
_________________________
Good coffee, good weed, and time on my hands...

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#322248 - 02/29/20 06:19 PM Re: Good News! [Re: NW Ponderer]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 16845
Loc: Florida
I wish I was in a position to drop a bundle in the market after the Trump Crash is over. This might not be the end of it but it looks like a safe time to buy in. **First US Coronavirus death just announced**

Here we go!
_________________________
Good coffee, good weed, and time on my hands...

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#322250 - 02/29/20 06:43 PM Re: Good News! [Re: NW Ponderer]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3239
Loc: Port Angeles, WA
Trump is not a moron (stupid) - he is an ignoramus (ignorant). I am basing this on the facts that he has literally taken over the Republican party, beaten every one of their presidential candidates, and has survived (a lot) so far. I is clever, sneaky, a liar and, I think, a traitor to the nation.

I also think he is now on the downward path. He has flat out lied about the virus thing in every possible way. My fond hope is that he continues hold rallies all over the country as that alone may bring him, and his true believers down eventually. There is also the fact that he is a germaphope (one can only wonder what happens when a portion of his true believers start caughing during a rally but it should be entertaining <G>

Now add in what is happening to the economy. There is a very good chance it will start to decline or, possibly, collapse. The stock market is just a symptom of a deeper problem. I am convinced his economy is at the end of the road. It was a recod breaking great run but everything that goes up always goes down and that is certainly a fact when it comes to economies.

I think the virus thing will so damage his veracity that, hopefully, that will start to extend to all the rest of the constant lying. If that happens he goes. There will be no more true believers claiming that they have never heard the man tell a lie. I would also wonder about Fox News as they will be in the same boat.

Its also true that the Trump Administration has, very publicly, decided to keep everything about the corana virus a secret from everybody. The news will mention that one, over and over and over until they stop it.

I suspect this will all really start when we actually get a full supply of virus tests. So far they have been able to slow that down but its gonna happen! California, hopefully, is starting production on their own as they don't seem to wait on the Trump administration to do their jobs. I don't think they can keep on with no tests much longer as resistance is getting too loud for them to keep that up. Once those tests are available I believe that those with the corana virus is going waaaaaaay up!

I know, wishful thinking - hopefully this one will have legs....

Oh, I know, this is a really terrible thing to be hoping for and I am sorry about that. If jackass trump is not forced to allow gov to do its job, however, a lot of us just might die! He sure as hell isn't going to do a damn thing until he is forced to as he is deep into his own reality (if you read the book, by, now, 39 different shrinks) Trump the Terrible is actually going, slowly but steadily, insane! (insanity doesn't mean stupid - its MUCH worse than that!)

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#322268 - 02/29/20 09:03 PM Re: Good News! [Re: jgw]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 9833
Loc: North San Diego County
I'm holding off on investing right now. Oh, I'm sure investments in broad indexes like SPY will have positive returns in a few years. I also think some companies will cease to exist because key people will die. But not very many of those: CEOs tend to get great medical care. But we are just in the beginning of a world-wide pandemic. It's going to get a lot worse before it starts to get better.

I'm going to wait for some positive signs, like a plentiful anti-viral drug that works, vaccine, Trump defeated, and market rising. I might even wait until Trump leaves office just to make sure he doesn't pull a Sampson thing and pull the temple down around him. He's a wily one. I wouldn't be surprised if he launches a couple of nukes to cover his flight from justice.

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#322270 - 02/29/20 09:12 PM Re: Good News! [Re: jgw]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3239
Loc: Port Angeles, WA
We have been divesting for over a year. We still lost a good chunk of change. My real hope is that I don't have any friends who sold at the bottom and then never get back in. My sister did that at her husband's (deadbeat) suggestion. I also have several friends that have done that. You gotta hold on until the bitter end when this stuff happens.

its true. what goes up must go down and what goes down must go up. This is true if you buy decently. if you buy junk then ............ (I speak with experience on this one <sigh>)

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#322272 - 02/29/20 09:48 PM Re: Good News! [Re: jgw]
Jeffery J. Haas Offline
It's the Despair Quotient!
Carpal Tunnel

Registered: 08/03/04
Posts: 15728
Loc: Whittier, California
Aides are quietly saying that he hasn't slept in 48 hours.

Whether it's the ground up Adderal or just the fact that the market crash signals his incompetence and he knows it does, he's apparently yelling at the tornado, demanding that it obey him.
Of course, nadoes gonna nado, they don't give a damn what he says.
_________________________
"The Best of the Leon Russell Festivals" DVD
deepfreezefilms.com

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