It isn't my ideology, it is the reality. Money drives the world, not politics or nations. You can't wish that fact away no matter how much you try. There will never be an equal playing field, so you can cry and whine and deny the obvious - or you can call it what it is and adapt. Your choice... It is generally pretty clear who chooses the latter. I am fully aware of how the economy works. More than a quarter of my 20 year professional career has been in the financial sector - specifically investment banking, and another quarter has been with working directly for government agencies or with them. But yeah, go on about what I think without offering any real insight of your own... We would hate for you to have to actually put your name on, and back something.
That is exactly one person and no one co signed that. Like I said you are contributing to The problem by lumping anybody that formulated with you progressives.
Remember the day after the election in 2016 when the markets tanked, then eventually shook it off for 2 years despite our current state of ****edness? Time to go back to reality
No massive tax cuts in the offing, pushing back regulation on Coal and Petroleum is no help, chaos from the Oval including possible impeachment projected for 2 years, Democrats take the house means less lobbying success, slowing growth in China, no FED rates cuts available, no infrastructure plan, mounting deficit Most Americans have no memory of extended Bear Markets
Bitcoin guys, everytime that idiot effs the market Bitcoin skyrockets. It's beautiful. Every idiotic tweet makes me money now. Trump Hitler 2020! Make America Great Again Again!
You just said that a tax cut for business will result in businesses saving money for a rainy day. That makes no sense whatsoever. Are you sure the name of the investment bank you work for isn't called "Lehman Brothers" You haven't explained why tax cuts haven't stimulated tax revenue except by saying they are saving the money because the economy looks gloomy...except it doesn't. It looks fine. And businesses are sitting on more cash then ever before - and that was BEFORE the tax cut. What has been through the roof have been dividends - in other words those tax cuts have stimulated capital gains payouts but that's taxed a lot less than payroll + income taxes are. So if you understand the economy, then you haven't shown it, and you haven't posted any data to back your arguments. Look, working for an investment banks doesn't mean you know crap all about the economy. I worked in an investment bank and half the sales guys and traders couldn't do bond math.
At this point it's a bit nonsensical with the speed of the selloff. The market is pricing in a likely recession early next year with the price action. That would seem to be HIGHLY unlikely outside of some major catastrophe. A lot of the action is tied to the high yield market getting nuked which is tied to the energy markets getting nuked. This December was the first calendar month since 2008 where there wasn't a single high yield debt issuance. This is primarily due to the crash in energy prices. A lot of energy companies are in the high yield/junk bond credit rating area of the bond market. I think the panic and amount of discussion about the market will turn this into a bottom soon. We may continue to drag lower if the govt remains shut down, if crude continues to get destroyed, if the high yield market continues to get blown up, and if treasuries continue to rally. We were down almost $3 in crude today. The crude price rapidly declining is a potential indicator of a weak global economy. Further, the 2 year treasury auction had yields dropping significantly. This is an indication of panic and of worry about US economic growth. So basically I am cautiously calling a bottom in the short/medium term. We are right at the 200 week moving average on the S&P 500 which has served to be a major point where the market will bounce in deep selloffs. My caution is mostly related to how swift this selloff has taken place and the relatively lack of panic and volatility to go along with it makes a bit odd. We don't see any kind of real urge to buy by institutions so far. The volume of the selloff hasn't been particularly heavy considering the move, but the lack of bid is puzzling. edit...all that said I think we have a major top in the market now. I don't see us making new highs anytime soon.
It still hasn't fully hit me that we elected a multi-level-marketing schemer to the office of Presidency. That's insane.
Market is down 8% for the past year and still up 12.7% since he won the office. Unlike you, I don't freak out over a 3 week down market...
