Author Topic: Dow dives 600 points to below 22,000, S&P 500 enters bear market - worst Christmas Eve ever  (Read 1309 times)

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Offline mystery-ak

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Dow dives 600 points to below 22,000, S&P 500 enters bear market - worst Christmas Eve ever
Published Sun, Dec 23 2018 • 6:05 PM EST | Updated 2 hours ago
Michael Sheetz
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John Melloy
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    Trump resumed his attack on the Fed on Monday, tweeting that the central bank is “the only problem” with the U.S. economy.
    Treasury Secretary Steven Mnuchin held calls on Sunday with the heads of the six largest U.S. banks in order to reassure nervous investors.
    The NYSE closes early on Monday at 1 p.m. ET. The exchange is closed on Tuesday for Christmas day.

more
https://www.cnbc.com/2018/12/24/us-stock-futures-fall-slightly-as-the-dow-attempts-to-rebound-from-its-worst-week-in-a-decade.html
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Offline Free Vulcan

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On weak volume. Things are getting over sold.
The Republic is lost.

Offline LegalAmerican

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My excellent president who is always correct about things, WARNED US. People didn't listen.
-------------------------------------------
Trump warned that a Democrat win would crash the market

President Trump has been proven right after warning America's rich that voting for Democrats in the 2018 midterms would crash U.S. stock markets.

The president took to Twitter on October 31 to warn: "The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders! Maybe it's time to rebrand the Democrats as the party of the rich."

Many progressive Democrats have been cheering for an American economic disaster, if it would politically undermine Donald Trump's populist support. The host of Politically Incorrect, Bill Maher, who has am over $100 million net worth, passionately stated in June:

I think one way to get rid of Trump is a crashing economy. So please bring on a recession. Sorry if it hurts people, but its either root for a recession or lose your democracy.

Read more: LINK

Offline corbe

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My excellent president who is always correct about things, WARNED US. People didn't listen.
-------------------------------------------
Trump warned that a Democrat win would crash the market

President Trump has been proven right after warning America's rich that voting for Democrats in the 2018 midterms would crash U.S. stock markets.

The president took to Twitter on October 31 to warn: "The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders! Maybe it's time to rebrand the Democrats as the party of the rich."

Many progressive Democrats have been cheering for an American economic disaster, if it would politically undermine Donald Trump's populist support. The host of Politically Incorrect, Bill Maher, who has am over $100 million net worth, passionately stated in June:

I think one way to get rid of Trump is a crashing economy. So please bring on a recession. Sorry if it hurts people, but its either root for a recession or lose your democracy.

Read more: LINK

    Though it was very hard to get past the BOLDED part above, I read through, Merry Christmas Lady.

    PS: your LINK doesn't work but it doesn't matter your synopsis was tough enough @LegalAmerican I'm just gonna steal this emoji from a Briefer I really like


 :bigsilly:
« Last Edit: December 25, 2018, 06:01:19 am by corbe »
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.

Offline Night Hides Not

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    Though it was very hard to get past the BOLDED part above, I read through, Merry Christmas Lady.

    PS: your LINK doesn't work but it doesn't matter your synopsis was tough enough @LegalAmerican I'm just gonna steal this emoji from a Briefer I really like


 :bigsilly:

@LegalAmerican is good for laughs, nothing more. Mnuchin IMO was reacting to calls from the WH/Trump to "do something" over the market correction. Mnuchin then lets on he called the heads of major banks, to show his boss he's "doing something".

The Fed is merely continuing their course of raising interest rates to keep the economy from overheating. Are they overdoing it? Perhaps. @LegalAmerican 's "excellent president" seems to have forgotten he appointed the current fed chairman 13 months ago.

The increase in interest rates IMO has far more to do with the correction in the stock market than the midterm elections. When interest rates were near zero for the better part of a decade, the risk/reward was better for stocks.

Typical Trump...when the stock market was booming, it was due to his policies, his leadership. When it's falling, it's because of whatever bogeyman he can get his base to blame.

I was a stockbroker during the crash of '87, and worked for the FDIC during the bank crisis some ten years ago. I claim no specific expertise other than living/working through those two eras, only to say that today's events are typical of the ups and downs of our financial markets.


It's not in Trump's personality to exert steady, calming leadership. He's all about leading through chaos, as evidenced by the turnover in his administration. "Trump fatigue" will be a chronic American condition by the end of 2019, only his most die hard supporters will continue to support him. Not going to get reelected with 35% of the vote.

Of course, the Democrats will likely screw the pooch, and put up an even more odious candidate. Joe Biden certainly falls into that category, as he'll be 78 in 2020. He never had the mental acuity to handle the role of POTUS, and he certainly won't be physically fit enough to handle the stress of the job.
You can avoid reality, but you cannot avoid the consequences of avoiding reality.

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Offline Fishrrman

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Night wrote:
"Of course, the Democrats will likely screw the pooch, and put up an even more odious candidate. Joe Biden certainly falls into that category, as he'll be 78 in 2020. He never had the mental acuity to handle the role of POTUS, and he certainly won't be physically fit enough to handle the stress of the job."

That's ok, because Uncle Joe is going to pick that little twerp "beto" to be his running mate.

So... by 2023... it may be "President Beto".
Think about that...