Originally published at: https://boingboing.net/2020/03/12/stocks-plunge-after-trump-trav.html
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At least his golf courses will continue to do well in a economic crisis he exasperated
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Moronovirus in Chief will be getting calls from Russian oligarchs and Putin soon enough:
“Vladimir Potanin and Oleg Deripaska, two of Russia’s wealthies men and majority share owners of NorNickel.”
In Russia Bear Market eat you.
The travel ban is bullshit. Just more Stephen Miller garbage.
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Despite the promises made during the 2016 election, I’m tired of all the “winning”.
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On top of all this ridiculousness, the ban doesn’t even apply to US citizens, since viruses definitely check passports before they infect people.
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Just foreigners, then?
There’s a big difference between sensible restrictions and really stupid ones.
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“Misspoke” - that’s .01% for “let my homies short the market one more time”
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Not sure if you meant “exacerbated” but “exasperated” works as well. I know I’m exasperated with him and everything he does. If he has any real skill, it’s in protecting himself at the expense of anyone/everyone else. He’ll admit no wrongdoing on his part, and will never fall on his own sword. The sword would have to be brought to him with a degree of insistence behind the presentation.
My mom keeps telling me she’s convinced he will resign by April 1st. I’m not so sure. If there’s still a buck to wring from our misery, and the pleabs aren’t smashing down the doors, he’ll stay at the helm.
I know the stock market in free fall sucks for everyone in ways we haven’t even seen yet, but I’m hoping some especially rich people are having aneurysms over this. If the illusion of the value of “money” can be dispelled, things will get mighty interesting for them as well.
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INFOGRAPHIC:
Shows the trajectory of the stock market, and also of Trump’s chance of reelection.
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I’m not an expert in finance and haven’t spent the night in an Holiday Inn Express but, I’m thinking that trump and his rich donors may be betting that the trump-virus-oil induced Bear Market will be short lived and pop back up before the election.
Most people rely on old trends and data…
“On average, a bear market for the Dow lasts 206 trading days, while the average bear period for the S&P 500 is about 146 days, according to data from Dow Jones Market Data.” -MarketWatch
But, this event is very much different.
He could “end” the Trade War with China to jump start the markets if he wanted to. I’m guessing sometime around June or July.
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I would also point out that Trump’s proposed payroll tax cut would also boost profits enormously at the Trump Organization, where he employs probably over 30,000.
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If anybody wasn’t very worried before, Trump’s “plan” seems to have tipped them over the edge. Fuck, this is pretty bad folks.
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Also, they canceled the Houston Rodeo.
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Seems as of right now they haven’t canceled the Austin Rodeo though.
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I don’t really know anything about finance, but, as I understand it, it’s now a bear market, dominated by pessimism, and we’re about to enter into the recession that’s been overdue for a while. It’ll likely be a bad one.
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If people remember this this November then it’s game over for Trump.
It gives a whole new meaning to “The economy, stupid!”
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The election will be classified.
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Indeed. However, the Trump era has this strange ability to really warp our perception of time. Remember when the US was on the brink of all-out war with Iran? That was just ten weeks ago. It seems like forever, though (at least, it does to me).
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Actually, I was wondering about this. If you’re a citizen, is it legal for the USA to refuse to let you in?
What would happen if, say, Italy decided to deport all US citizens and send them on a flight back? Could the US refuse entry to them?
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Bad economic news is traditionally bad for the incumbent. But external crises are good for authoritarian incumbents, regardless of whether they’re seen as doing a particularly good job. In terms of electoral tea leaves, I’m not sure party hats are warranted.
Though, the other lesson we’ve learned lately is that the political tea-leaf reading industry is overrated.
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