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Politics & Religion

World events, politics and whatever (especially whatever)
WARNING: Posts may contain offensive content and red wine
09/11/2001 WE REMEMBER

"Fear is the foundation of most governments." - John Adams

"My family is more important than my party." - Zell Miller

The Dow Jones industrial average fell more than a thousand points on Thursday. It wasn’t the largest single-day drop in history, but only because the drop on Monday was bigger. So, thanks to the big drop earlier in the week, Thursday’s was the second-biggest drop in history. This week has so far seen the second-biggest weekly drop in history, coming in slightly behind the week that ended on Oct. 10, 2008. If the Dow drops 214 points on Friday, it will be the worst week in history.

As a function of points, anyway. There have been 149 days in which the Dow fell more than 4.15 percent, the drop experienced on Thursday. There have been 78 weeks in which the Dow fell more than 6.51 percent, which is where it stands for the week. That means, though, that Thursday was worse than 99.5 percent of days in the Dow’s history and this week has been worse than 98.7 percent of weeks. Again: So far.

On Wednesday, President Trump blamed the market’s stumble on good economic news, which is a unique argument.

But he’d better hope the good news that’s driving the markets down ends soon.

As of the end of the day Thursday, the Dow was lower than it’s been on any day since Nov. 28 of last year — meaning that the Dow has lost all of the value it added since that point.

Or, put another way, the Dow Jones industrial average has now lost 40.6 percent of the value it had added since Trump’s inauguration as of the peak it hit on January 26. If the Dow loses another 639 points, it will have shed half the value it added under Trump.

Could it fall another 639 points? Well, in three of the last five trading days, it’s fallen more than that.

So far, the White House seems sanguine about the fluctuations in the market, pointing to the underlying economic metrics that show more stability than the week’s fluctuations in the Dow. That approach is completely fair. But for a president who only last week touted the growth in the markets as an indicator of his policy successes, it’s worth noting when that metric suddenly sinks by more than 40 percent

There are 12 Replies

Also, hope no one out there still has bitcoin or etherium.


Posted February 9th by Agis

Holy cow, bitcoin is at 8000$. I'd buy it if I had the money, or maybe it'll correct all the way down to something reasonable like 1200

Posted February 9th by Xhin

All the stock market really indicates is how the stock market is doing. Trump's main mistake, deliberate or otherwise, was to conflate it with wider economic indicators or stability.

End of cheap money and rise of interest rates. This feels more like correction, although if I recall correctly, they said that in September 1929.

Posted February 9th by Arch

Bitcoin is still x8 where it was exactly 1 year ago.

And a theory is out there that the globalist internationalists want to crash the economy and blame it on Trump. Its obvious Trumps policies benefit the economy, but the system itself is not sustainable long term at current rate no matter what. Will the crash happen this term? Hard to say.

Posted February 10th by #85

The lengths you will go to defend trump.

Posted February 10th by S.o.h.

Total wacko

Posted February 10th by Malas

Oh shut up 85. I warned you back when you were gloating about the stock market that it would plummet before long and that it would be blamed on Trump. That isn’t a conspiracy. When we have extreme wealth inequality and an unregulated economy where loan sharks are allowed to run wild and insurance companies are allowed to price gouge the hell out of you (among other factors), we get a pretty volatile boom-bust market cycle. This last plummet was largely blamed on rising wages. Yet half of Americans make $30k/yr or less and many more struggle to feed their families and keep a roof over their head. The system is fundamentally broken, and all Trump is doing is taking those broken policies and putting them on steroids.

Edited February 10th by pacman

brave Sir Trump, protagonist of reality, boldly fighting back against the (((globalists))) armed with only the power of a vast, inherited semi-criminal empire and the animate badger corpse grafted to his scalp

Posted February 10th by Pink Peruvian Flying Bear
Pink Peruvian Flying Bear

"And a theory is out there that the globalist internationalists want to crash the economy and blame it on Trump"

there's a theory out there that earth is flat

Posted February 10th by poptart!

It is as Arch said. This correction was predicted a while ago, as rising interest rates have been speculated for some time. It is still to say that the Dow is on a general upward trend on the grand scale.

Edited February 12th by Dr. Doom
Dr. Doom

Trump's policies do nothing for the average citizen.

Posted February 18th by Blazer72

Funny how whenever the stock market drops on Democrats, everyone will clamor to blame the President. But now that we've suffered one of the worst drops in history, which occurred right after the announcement we were set to borrow one trillion dollars this year and the value of the dollar fell dramatically, it's a "correction" that we knew was going to happen anyways, and Trump's inefficient handling of money had no way in part of causing this. Trump is always right, even when he's wrong.

Posted February 18th by mariomguy
Reply to: The DOW has now lost more than 40%% of what it gained during Trump's presidency

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