Who would like to answer this difficult question?

Discussion in 'The Water Cooler' started by jimntx, Dec 24, 2018.

  1. jimntx

    jimntx Veteran

    Joined:
    Jun 28, 2003
    Messages:
    10,470
    Likes Received:
    3,233
    #1 jimntx, Dec 24, 2018
    Last edited: Dec 24, 2018
    The stock market had an astounding peak day on Sept. 20th with the Dow-Jones closing at 26,657. The stock market closed at noon ET today at 21,792 a drop of 18.25% since 9/20. One commentator on CNBC (the business channel) said that it was the worst December for the stock market since 1931 in the depths of the Great Depression.

    Now the Donald has taken personal credit for every dollar the stock market has gone up since he took office. Do you suppose he will accept the blame for the losses since September, or will he find someone to blame--like a computer nerd in the Federal Reserve offices??? What say ye?
     
    • Funny Funny x 1
  2. xUT

    xUT Veteran

    Joined:
    Dec 28, 2009
    Messages:
    7,063
    Likes Received:
    3,774
    DemoRats, Fed Chairman, Obama and Crooked Clinton's.
    How dare you have the audacity to try to blame King Trump...:eek:
     
  3. Dog Wonder

    Dog Wonder Veteran

    Joined:
    Jan 1, 2004
    Messages:
    13,309
    Likes Received:
    3,820
    Obama's fault, he should have stayed President.
     
    • Funny Funny x 1
  4. Zom JFK

    Zom JFK Veteran

    Joined:
    Nov 19, 2010
    Messages:
    807
    Likes Received:
    544
  5. Kris Kringle

    Kris Kringle Member

    Joined:
    Dec 7, 2018
    Messages:
    16
    Likes Received:
    0
    Of course it's the Presidents fault. ("The buck stops here" )(President Harry S. Truman) Now the President 'could' blame Fake News. Just a bit of a problem with that though, meaning that all the money people lost, is not Fake money. It's hard to dismiss the 2018 election results, with regard to the upcoming 2020 election, as a 'canary in the coal mine' !
     
  6. jimntx

    jimntx Veteran

    Joined:
    Jun 28, 2003
    Messages:
    10,470
    Likes Received:
    3,233
    #6 jimntx, Dec 25, 2018
    Last edited: Dec 26, 2018
    Kris, you're a day late and a dollar short. He officially blamed the Federal Reserve yesterday for the stock market crash. The markets closed early yesterday and officially recorded the worst Christmas Eve in the history of the New York Stock Exchange.

    It's a good thing that I've already warned my nieces and nephews that my retirement plan is to be a burden to them all. Since this "market adjustment" started not quite a month ago, my investments have lost over 7% of their value. Selling would be of no benefit for the future. For right now my advisor said the best approach is wait and see what the New Year brings; since there is usually a drop toward the end of the year and a rebound in January. Guess I'll just have to wait and see. Fortunately, she had already moved a bunch of stock to cash; so, I'm taking the "it coulda been worse" approach to my thinking.
     
  7. La Li Lu Le Lo

    La Li Lu Le Lo Veteran

    Joined:
    May 29, 2010
    Messages:
    5,198
    Likes Received:
    2,502
    I remember when Obama was president and news channels were so back and forth on the stock market. I would hear conflicting reports on the stock market from day to day, sometimes even on the same day from different news channels. I am not saying the stock market didn't drop. What I am saying is the Obama years have given me a wait and see attitude regarding the stock market. I never blamed Obama for the stock market and I don't blame Trump either.

    A bigger factor for me (and I believe a MUCH better indicator of our actual economy) is our nations unemployment numbers, which were horrid in the Obama years. Unemployment is better now but we still have far too many low paying service jobs with no benefits. That is not to say I support fight for 15 (because I don't.... it is ridiculous) but I do support fair pay in manufacturing and skilled labor jobs which have been depressed by foreign competition (working for American employers.... i. e. outsourcing) and illegal labor driving down wages in what used to be middle class American jobs.
     
  8. delldude

    delldude Veteran

    Joined:
    Oct 29, 2002
    Messages:
    26,816
    Likes Received:
    5,801
    No chance overzealous investors trying to get on the money train breaking their own bubble?

    Naw, gotta be Trump.
     
  9. Insp4

    Insp4 Veteran

    Joined:
    May 27, 2016
    Messages:
    3,095
    Likes Received:
    679
    Hey a cow farts in Kansas!........ It must be Trumps fault that it stinks, right?
     
  10. Dog Wonder

    Dog Wonder Veteran

    Joined:
    Jan 1, 2004
    Messages:
    13,309
    Likes Received:
    3,820
    Trump takes credit when a cow farts and doesn't stink.
     
  11. KCFlyer

    KCFlyer Veteran

    Joined:
    Aug 20, 2002
    Messages:
    9,117
    Likes Received:
    1,260
    Companies got a tax cut and did a trillion (with a t) dollars worth of stock buybacks. That's going to boost the stock price up for a bit...but the repurchases are done...now it's back to business as usual. Remember last year when companies were handing out $1,000 bonuses like it was halloween candy? And that was BEFORE the tax cut. Nothing this year.

    Trump supporters won't admit it, but the tax cut failed. You were promised that the money saved by corporations would create new jobs or increase the pay of existing jobs. From about 2010, most companies gave the obligatory 3% raise. Then we got a tax cut and companies, flush with new cash gave....a 3% raise.
     
  12. delldude

    delldude Veteran

    Joined:
    Oct 29, 2002
    Messages:
    26,816
    Likes Received:
    5,801
    Help wanted signs all over here.....
     
    • Winner Winner x 1
  13. Dog Wonder

    Dog Wonder Veteran

    Joined:
    Jan 1, 2004
    Messages:
    13,309
    Likes Received:
    3,820
    Trump leaves the country and the stock market posts record gains. Put up a wall, quickly.
     
    • Funny Funny x 2
    • Winner Winner x 1
  14. Kris Kringle

    Kris Kringle Member

    Joined:
    Dec 7, 2018
    Messages:
    16
    Likes Received:
    0

    I'm just curious. How many of these many jobs are paying $20.00 per hour, with good (available medical benefits) and a good retirement plan ? (God forbid a defined pension plan).
     
  15. KCFlyer

    KCFlyer Veteran

    Joined:
    Aug 20, 2002
    Messages:
    9,117
    Likes Received:
    1,260
    Here's the great thing....Trump won Michigan and Ohio with the promise of "jobs, jobs, jobs" Most of these folks were autoworkers. The "jobs jobs jobs" vision in their head were of the glory days of "the big 3". In their minds, they were looking for jobs that paid what they were accustomed to making under their UAW contracts....a good wage - a middle class lifestyle. They didn't have visions of South Carolina wages and benefits. Same with the steelworkers. And yeah...there are "help wanted" signs all over the place - some even offer - gasp - $15 an hour. But that kind of sucks when you were hoping for $25 an hour, plus pension, plus company paid health insurance. And what do they get? Plant closures.

    And in all my years, I never saw a "help wanted" sign outside an auto plant or a steel mill....or even an "accountants wanted" sign outside a downtown office building. Usually the"help wanted" signs are in restaurant windows
     

Share This Page