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Edmund55
Senior Contributor

DOW eighth straight week loss

Old senile joe's 8th straight week of DOW market losses is the longest streak in 90 years - yes, 1932.  Remember the stories from dad and/or grandpa about the depression days?  Well senile joe biden wants you to re-live those day in real life......call em the joesph robinette biden depression days.

Old joe is the herbert hoover of the 21st century.

 

11 Replies
sam1wiseone
Senior Contributor

Re: DOW eighth straight week loss

The biden depression.   Fitting.

But a joke really, it's the people that installed him.  He hardly knows were he is most days

 

gh2002gh
Senior Contributor

Re: DOW eighth straight week loss

Play the under.  The free money printing and market manipulation for decades has consequences.  

sdholloway56
Senior Advisor

Re: DOW eighth straight week loss

Stock index levels above the high of the Trump Maladministration are indeed tragic.

Always seemed fairly likely that following the explosion of corporate profits that ensued as they took advantage of pandemic disruptions, aggregate profits would eventually revert back to something approaching the mean. Anyone who didn't make adjustments based on that has themselves to blame.

Just as the stock market lurched higher* after Powell cut rates and bought assets in order to try to get Trump re-elected (it almost worked), the stock market will adjust lower if the Fed tightens.

*even as growth stalled and the trade deficit surged.

sdholloway56
Senior Advisor

Re: DOW eighth straight week loss

Special Ed is former Chief Economic Advisor to the Brownback Administration.

But anyway, Nazi-ism began to get a foothold when The Folk came to believe- with religious certainty- that tax cuts always increase growth, increase revenue and reduce deficits.

When you can be made to believe that despite an abundance of real world evidence saying no, you can be made to believe anything.

Packard27
Senior Contributor

Re: DOW eighth straight week loss

 

Not to get too eggheadishy here, but economists have a term called “disaster myopia.” It just means that most people tend to avoid thinking in worst case scenario terms.

If something truly bad such as war, depression, 88% down market crashes, draught, famine, or plague has never happened in their own lifetimes, people will then discount the likelihood of such things ever occurring again. Ignorance is bliss and all history prior to one’s own adulthood is ancient...until it isn’t.

How bad can life get for those living in America in 2022? Answer: Past experience suggests much, much worse. So, continue to hope for the best, but nevertheless prepare for a wide range of possible adverse social & economic outcomes in the future. 

Sign me off as Danny Downer

sdholloway56
Senior Advisor

Re: DOW eighth straight week loss

And why, pray tell, did you think things were well under control during the white trash reality TV Run?

BA Deere
Honored Advisor

Re: DOW eighth straight week loss

I don`t know if it`s being a farmer or if I`m wired differently, but it kind of started with 9/11 attacks people freaked out about it just a bit much.  To me, it was bad being attacked and 3,000 people dead, but we learned a lesson to not allow terrorists to take over a plane...so you move on.  With covid, people lost their minds in fear and we`re still feeling the after shocks of irrationality, less than 1% chance of dying?  yeah I`ll take them odds any day, now let`s get to work.

Now the stock market crashing?  I hear citidiots advising each other "Don`t even open your 401K envelope and look!!! It`ll make you sick" .   Most of the gains are paper gains...like going to the horse track, actual  paycheck contributions are a fraction of the market gains.  Lynn Anderson used to sing ♪ I never promised you a rose garden♫    Back in the old neighborhood the stock market going up double digits and can`t lose would`ve been a scheme ran by Uncle Rico along with his Radon removal service. 

The market will come back, because I don`t think it will and I`ve been wrong for 30 years about it 😀

I`m more of a World According to Garp kind of guy.

BADeere_1-1653140646905.jpeg

 

 

 

Edmund55
Senior Contributor

Re: DOW eighth straight week loss

(And why, pray tell, did you think things were well under control during the white trash reality TV Run?)

Yea, I haven't called old idiot joe white trash, although he does / did have a lot of kkk pals, and he has done a great deal of white trash grifting in his 5 decade political career.  I did predict that "things" would get very bad under a senile joe regime......but I didn't think "things" would get this bad, and still 2.5 years of the disaster to go.

Who would have ever thought that a 21st century President could take us back to the Carter years with his inflation; and now he takes us back to the great depression days.

Dang ULTRA hypocrats.

sdholloway56
Senior Advisor

Re: DOW eighth straight week loss

Lol.

I can tell you that it was not a popular position to try to tamp down mass hysteria regarding 9/11.

Nor to point out that the new Admin was chock full of ideologue losers (Although only half as bad as the Trump Admin).

I recall here, when you’d raise concern about DHS hysteria the constant response was “what’s your worry if you haven’t done anything wrong. Harharhar”

But then after two lost wars and an epic financial crash “never heard of the guy”

Ol Tirdy Q really wanted to kill him some mooslims, too.