Collapsing Market and all it means!

[Luckyone]

The markets are called to open limit down today after the Fed cut interest rates down to close to zero last night. Such a cut would normally have generated a huge rally in the market but at this time it was a clear sign that the Fed believes things are worse than any of us have considered up to now. As such, the cut put fear again into the hearts of all traders.

It is presently impossible to guess as to where the market will trade down to today but using what is happening to Goldman Sachs (GS) that is due to open around $150 right now and closed on Friday at $177 (down about 16%), it would mean that the DOW will trade below 20,000 today if the index mimics what GS is showing.

Where will all of this stop and when?

That is the $64 million dollar question as everything is being closed worldwide and companies will be losing income across the board. Many companies are likely to g bankrupt because their only option will be to borrow money to stay open but borrowing money will not guarantee any income coming in. What makes it even worse is that people are staying home and not working and in many (if not most) of the cases they will not be getting an income or if getting one, it will be less than what they were making before, meaning that when things begin to get normal, they will not have any "extra" money to buy anything other than absolute needs, meaning that new cars, gifts, trips, going to the movies, going to restaurants, etc. will not be happening and that will extend the economic malaise months after the Corona Virus is heading down and at this time, that is not even an idea of when it will stop. This is only the 2nd inning in a 9 inning game, to give you an example.

The Corona Virus is no longer just a medical issue but has become probably one of the worst economic issues we have ever faced, and at this time no one knows how much worse it can get. The only thing that is known today is that it has caused the DOW to drop close to 33% in just 4 weeks.

By the way, when Trump took office in January 2017, the DOW was trading at 19943 and it seems that is about where it is due to open around there today, meaning that all the economic benefits that Trump brought to then nation will be wiped out. The virus is not Trump's fault but the only thing that Trump can actually be credited for is the economy and that will all be wiped out (if not more). From now on, health is likely to be a bigger and more important issue than economics and health is not an issue that Trump has addressed the past 3 years and will not be addressing in the future. I believe this was a wake up call for everyone that staying alive is more important than making money and that everyone (especially the rich) have to get involved in making our health system the best in the world.

I believe Health Care will be the most important issue for the 2020 election, especially after everyone in the U.S. will likely lose a loved one this year to the Corona Virus.

By the way, this is a good time to point out that Germany has an excellent Health Care system and an excellent President in Merkel. She started preparing for the Corona Virus in December (versus Trump in March) and in Germany they have only had 11 deaths from 5900 cases of the Corona Virus, whereas we have seen 69 deaths from 3800 cases. In Germany, they have had 6 times less death in almost double the amount of cases, meaning that their approach to the virus has been 10 times better than ours and all of that has to be credited to Merkel and their Health Care system.

Anyhow, and back to the market. I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now. It is downright chilling.

 

[Craig234]

I believe Health Care will be the most important issue for the 2020 election

It might be in the general, but sadly it is not in the primary. Voters are voting on the myth of 'Biden is most electable', and not on issues, including healthcare, where they agree with Bernie more than Biden.

Anyhow, and back to the market. I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now. It is downright chilling.

It remains an issue for people what to do. Selling at the bottom is bad; but selling on the way down not necessarily bad. Alternative investments (metals, bear funds) are an option. I'm not sure how long it would take for things like real estate to decrease or how much they'll go down; this isn't the 2008 housing crash.

 

[Luckyone]

It might be in the general, but sadly it is not in the primary. Voters are voting on the myth of 'Biden is most electable', and not on issues, including healthcare, where they agree with Bernie more than Biden.



It remains an issue for people what to do. Selling at the bottom is bad; but selling on the way down not necessarily bad. Alternative investments (metals, bear funds) are an option. I'm not sure how long it would take for things like real estate to decrease or how much they'll go down; this isn't the 2008 housing crash.

Except that no one will have money with which to buy houses and many houses will be put out for sale to cover economic needs. That will cause home prices to fall. How much, is not yet known.

 

[Tbird19482]

The markets are called to open limit down today after the Fed cut interest rates down to close to zero last night. Such a cut would normally have generated a huge rally in the market but at this time it was a clear sign that the Fed believes things are worse than any of us have considered up to now. As such, the cut put fear again into the hearts of all traders.

It is presently impossible to guess as to where the market will trade down to today but using what is happening to Goldman Sachs (GS) that is due to open around $150 right now and closed on Friday at $177 (down about 16%), it would mean that the DOW will trade below 20,000 today if the index mimics what GS is showing.

Where will all of this stop and when?

That is the $64 million dollar question as everything is being closed worldwide and companies will be losing income across the board. Many companies are likely to g bankrupt because their only option will be to borrow money to stay open but borrowing money will not guarantee any income coming in. What makes it even worse is that people are staying home and not working and in many (if not most) of the cases they will not be getting an income or if getting one, it will be less than what they were making before, meaning that when things begin to get normal, they will not have any "extra" money to buy anything other than absolute needs, meaning that new cars, gifts, trips, going to the movies, going to restaurants, etc. will not be happening and that will extend the economic malaise months after the Corona Virus is heading down and at this time, that is not even an idea of when it will stop. This is only the 2nd inning in a 9 inning game, to give you an example.

The Corona Virus is no longer just a medical issue but has become probably one of the worst economic issues we have ever faced, and at this time no one knows how much worse it can get. The only thing that is known today is that it has caused the DOW to drop close to 33% in just 4 weeks.

By the way, when Trump took office in January 2017, the DOW was trading at 19943 and it seems that is about where it is due to open around there today, meaning that all the economic benefits that Trump brought to then nation will be wiped out. The virus is not Trump's fault but the only thing that Trump can actually be credited for is the economy and that will all be wiped out (if not more). From now on, health is likely to be a bigger and more important issue than economics and health is not an issue that Trump has addressed the past 3 years and will not be addressing in the future. I believe this was a wake up call for everyone that staying alive is more important than making money and that everyone (especially the rich) have to get involved in making our health system the best in the world.

I believe Health Care will be the most important issue for the 2020 election, especially after everyone in the U.S. will likely lose a loved one this year to the Corona Virus.

By the way, this is a good time to point out that Germany has an excellent Health Care system and an excellent President in Merkel. She started preparing for the Corona Virus in December (versus Trump in March) and in Germany they have only had 11 deaths from 5900 cases of the Corona Virus, whereas we have seen 69 deaths from 3800 cases. In Germany, they have had 6 times less death in almost double the amount of cases, meaning that their approach to the virus has been 10 times better than ours and all of that has to be credited to Merkel and their Health Care system.

Anyhow, and back to the market. I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now. It is downright chilling.

The people of the USA should be asking Trump and the Republicans what happened to repeal and replace Obamacare with a better cheaper system
they did not do either they just dismantled Obamacare and left the people of the USA with nothing better just something worse
And now we are in a real mess and it may have been made worse by Trump cutting the CDC's budget and getting rid of people in the CDC that actually knew something about what to do.
Hope we get this behind us without too many people dying.
Have a nice day

 

[Bucky]

The markets are called to open limit down today after the Fed cut interest rates down to close to zero last night. Such a cut would normally have generated a huge rally in the market but at this time it was a clear sign that the Fed believes things are worse than any of us have considered up to now. As such, the cut put fear again into the hearts of all traders.

It is presently impossible to guess as to where the market will trade down to today but using what is happening to Goldman Sachs (GS) that is due to open around $150 right now and closed on Friday at $177 (down about 16%), it would mean that the DOW will trade below 20,000 today if the index mimics what GS is showing.

Where will all of this stop and when?

That is the $64 million dollar question as everything is being closed worldwide and companies will be losing income across the board. Many companies are likely to g bankrupt because their only option will be to borrow money to stay open but borrowing money will not guarantee any income coming in. What makes it even worse is that people are staying home and not working and in many (if not most) of the cases they will not be getting an income or if getting one, it will be less than what they were making before, meaning that when things begin to get normal, they will not have any "extra" money to buy anything other than absolute needs, meaning that new cars, gifts, trips, going to the movies, going to restaurants, etc. will not be happening and that will extend the economic malaise months after the Corona Virus is heading down and at this time, that is not even an idea of when it will stop. This is only the 2nd inning in a 9 inning game, to give you an example.

The Corona Virus is no longer just a medical issue but has become probably one of the worst economic issues we have ever faced, and at this time no one knows how much worse it can get. The only thing that is known today is that it has caused the DOW to drop close to 33% in just 4 weeks.

By the way, when Trump took office in January 2017, the DOW was trading at 19943 and it seems that is about where it is due to open around there today, meaning that all the economic benefits that Trump brought to then nation will be wiped out. The virus is not Trump's fault but the only thing that Trump can actually be credited for is the economy and that will all be wiped out (if not more). From now on, health is likely to be a bigger and more important issue than economics and health is not an issue that Trump has addressed the past 3 years and will not be addressing in the future. I believe this was a wake up call for everyone that staying alive is more important than making money and that everyone (especially the rich) have to get involved in making our health system the best in the world.

I believe Health Care will be the most important issue for the 2020 election, especially after everyone in the U.S. will likely lose a loved one this year to the Corona Virus.

By the way, this is a good time to point out that Germany has an excellent Health Care system and an excellent President in Merkel. She started preparing for the Corona Virus in December (versus Trump in March) and in Germany they have only had 11 deaths from 5900 cases of the Corona Virus, whereas we have seen 69 deaths from 3800 cases. In Germany, they have had 6 times less death in almost double the amount of cases, meaning that their approach to the virus has been 10 times better than ours and all of that has to be credited to Merkel and their Health Care system.

Anyhow, and back to the market. I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now. It is downright chilling.

We need to cancel any election. It isn't safe for people to go out to vote. Trump will need to be president indefinitely until it is safe.

 

[Slartibartfast]

We need to cancel any election. It isn't safe for people to go out to vote. Trump will need to be president indefinitely until it is safe.

That would require a constitutional amendment I think, as there is no prevision for public safety mentioned in the constitution. A second fact is that it is primarily run by the states, not the federal government.

Also, we voted through the civil war and we can vote through this.

 

[CaughtInThe]

Republicans don't care about healthcare. They knew Trump was lying to them about Trumpcare the last time.

 

[Luckyone]

We need to cancel any election. It isn't safe for people to go out to vote. Trump will need to be president indefinitely until it is safe.

Talk about adding injury to insult. Safe? It will never be safe with Trump in office.

 

[bluesmoke]

The markets are called to open limit down today after the Fed cut interest rates down to close to zero last night. Such a cut would normally have generated a huge rally in the market but at this time it was a clear sign that the Fed believes things are worse than any of us have considered up to now. As such, the cut put fear again into the hearts of all traders.

It is presently impossible to guess as to where the market will trade down to today but using what is happening to Goldman Sachs (GS) that is due to open around $150 right now and closed on Friday at $177 (down about 16%), it would mean that the DOW will trade below 20,000 today if the index mimics what GS is showing.

Where will all of this stop and when?

That is the $64 million dollar question as everything is being closed worldwide and companies will be losing income across the board. Many companies are likely to g bankrupt because their only option will be to borrow money to stay open but borrowing money will not guarantee any income coming in. What makes it even worse is that people are staying home and not working and in many (if not most) of the cases they will not be getting an income or if getting one, it will be less than what they were making before, meaning that when things begin to get normal, they will not have any "extra" money to buy anything other than absolute needs, meaning that new cars, gifts, trips, going to the movies, going to restaurants, etc. will not be happening and that will extend the economic malaise months after the Corona Virus is heading down and at this time, that is not even an idea of when it will stop. This is only the 2nd inning in a 9 inning game, to give you an example.

The Corona Virus is no longer just a medical issue but has become probably one of the worst economic issues we have ever faced, and at this time no one knows how much worse it can get. The only thing that is known today is that it has caused the DOW to drop close to 33% in just 4 weeks.

By the way, when Trump took office in January 2017, the DOW was trading at 19943 and it seems that is about where it is due to open around there today, meaning that all the economic benefits that Trump brought to then nation will be wiped out. The virus is not Trump's fault but the only thing that Trump can actually be credited for is the economy and that will all be wiped out (if not more). From now on, health is likely to be a bigger and more important issue than economics and health is not an issue that Trump has addressed the past 3 years and will not be addressing in the future. I believe this was a wake up call for everyone that staying alive is more important than making money and that everyone (especially the rich) have to get involved in making our health system the best in the world.

I believe Health Care will be the most important issue for the 2020 election, especially after everyone in the U.S. will likely lose a loved one this year to the Corona Virus.

By the way, this is a good time to point out that Germany has an excellent Health Care system and an excellent President in Merkel. She started preparing for the Corona Virus in December (versus Trump in March) and in Germany they have only had 11 deaths from 5900 cases of the Corona Virus, whereas we have seen 69 deaths from 3800 cases. In Germany, they have had 6 times less death in almost double the amount of cases, meaning that their approach to the virus has been 10 times better than ours and all of that has to be credited to Merkel and their Health Care system.

Anyhow, and back to the market. I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now. It is downright chilling.

Besides the rate cut, the Fed pumped in up to $1.5 trillion into the financial system in an effort to combat “potential freezes brought on by the coronavirus.” The Fed has shot its wad. “The market” was negatively impressed, obviously.

“The virus is not Trump's fault”

No, but the lack of appropriate response was. Being an apologist for Trump is unwarranted.

“I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now.”

The two are not related like you might think. The last worst-case market collapse was Oct 1987. GDP actually went up the year after and unemployment down in the following months.

 

[ttwtt78640]

Republicans don't care about healthcare. They knew Trump was lying to them about Trumpcare the last time.

Mexico will pay for TrumpCare right after they get done paying for the Great Wall Of Trump.

 

[Bucky]

That would require a constitutional amendment I think, as there is no prevision for public safety mentioned in the constitution. A second fact is that it is primarily run by the states, not the federal government.

Also, we voted through the civil war and we can vote through this.

So you are entirely ready to send people to their deaths going to voting booths where there are hundreds if not thousands of people congregating?

 

[swing_voter]

On the day of the big correction, I pretend bought a 1,000 shares of Apple for $270,000

Right now it's worth $277,000

It's been as high as $298,000 and as low as $255,000. Basically the market is a bucking bronco at the moment. Once there is more solid information about the epidemic and the drop in oil prices, the market will stabilize.

 

[Rexedgar]

Mexico will pay for TrumpCare right after they get done paying for the Great Wall Of Trump.

Mexico is thinking about closing to border to us.....


Will the US close its borders to fight coronavirus | cbs8.com

 

[Slartibartfast]

So you are entirely ready to send people to their deaths going to voting booths where there are hundreds if not thousands of people congregating?

It is way too early to be predicting what will be going on public health wise come November.

 

[Rexedgar]

On the day of the big correction, I pretend bought a 1,000 shares of Apple for $270,000

Right now it's worth $277,000

It's been as high as $298,000 and as low as $255,000. Basically the market is a bucking bronco at the moment. Once there is more solid information about the epidemic and the drop in oil prices, the market will stabilize.

Get back to us at COB today.......


Are you medicating with pretend antacids and such?

 

[Luckyone]

Besides the rate cut, the Fed pumped in up to $1.5 trillion into the financial system in an effort to combat “potential freezes brought on by the coronavirus.” The Fed has shot its wad. “The market” was negatively impressed, obviously.

“The virus is not Trump's fault”

No, but the lack of appropriate response was. Being an apologist for Trump is unwarranted.

“I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now.”

The two are not related like you might think. The last worst-case market collapse was Oct 1987. GDP actually went up the year after and unemployment down in the following months.

This situation cannot be compared to 1987 as there was

Heightened hostilities in the Persian Gulf, fear of higher interest rates, a five-year bull market without a significant correction, and the introduction of computerized trading have all been named as potential causes of the crash.

and....

Initial blame for the 1987 crash centered on the interplay between stock markets and index options and futures markets. In the former people buy actual shares of stock; in the latter they are only purchasing rights to buy or sell stocks at particular prices.

None of that is happening now.

 

[HumblePi]

We need to cancel any election. It isn't safe for people to go out to vote. Trump will need to be president indefinitely until it is safe.

That's exactly what Trump is planning on. It's the only way he can hold onto the White House. The way Trump has handled -- and is handling -- this crisis says all anyone needs to know about Trump. Right up to yesterday he had spokespeople on Fox like Devin Nunes telling people not to stop going out to restaurants or go down to the local 'pub'. NO, that's the wrong advice Devin! People that watch Fox have been getting bad information and Trump has been sending that message from the White House. Right now, this is the time to panic, take this seriously and stay the hell home if possible and AVOID any 'pubs' or restaurants. You can all listen to Fox of course but use your brains and sort out the bad advice from the wise advice. You'll get both on Fox but men like Devin Nunes presents a danger to communities by encouraging people to go out in public with others.

The epidemic in this country is at the stage where it's downright critical that everyone take it seriously. What was the first thing Trump talked about the other day? He didn't begin his press conference with concerns about the coronavirus, he talked about the fed rate and how it's going to help the economy. He doesn't care about human lives, he cares about his popularity. Trump will use any tools at his disposal to win and if the virus is still around or if the country is in a deep recession, he'll use either one of those as a reason to cancel the election.

 

[Craig234]

Republicans don't care about healthcare. They knew Trump was lying to them about Trumpcare the last time.

They care a LOT about healthcare. They care about the huge amounts of money spent on the public for healthcare, and they want that money for their rich donors. It's why they voted 60 times to repeal the ACA and the Supreme Court is hearing a case from them to do that next term.

 

[Luckyone]

So you are entirely ready to send people to their deaths going to voting booths where there are hundreds if not thousands of people congregating?

From now until November, they can come up with better ways of voting from home instead of going to the booths. That is already done in almost all states but would have to be expanded to meet the increased demand for it. In addition, not voting and keeping Trump in office will cause more deaths than going out to vote.

 

[HumblePi]

The markets are called to open limit down today after the Fed cut interest rates down to close to zero last night. Such a cut would normally have generated a huge rally in the market but at this time it was a clear sign that the Fed believes things are worse than any of us have considered up to now. As such, the cut put fear again into the hearts of all traders.

It is presently impossible to guess as to where the market will trade down to today but using what is happening to Goldman Sachs (GS) that is due to open around $150 right now and closed on Friday at $177 (down about 16%), it would mean that the DOW will trade below 20,000 today if the index mimics what GS is showing.

Where will all of this stop and when?

That is the $64 million dollar question as everything is being closed worldwide and companies will be losing income across the board. Many companies are likely to g bankrupt because their only option will be to borrow money to stay open but borrowing money will not guarantee any income coming in. What makes it even worse is that people are staying home and not working and in many (if not most) of the cases they will not be getting an income or if getting one, it will be less than what they were making before, meaning that when things begin to get normal, they will not have any "extra" money to buy anything other than absolute needs, meaning that new cars, gifts, trips, going to the movies, going to restaurants, etc. will not be happening and that will extend the economic malaise months after the Corona Virus is heading down and at this time, that is not even an idea of when it will stop. This is only the 2nd inning in a 9 inning game, to give you an example.

The Corona Virus is no longer just a medical issue but has become probably one of the worst economic issues we have ever faced, and at this time no one knows how much worse it can get. The only thing that is known today is that it has caused the DOW to drop close to 33% in just 4 weeks.

By the way, when Trump took office in January 2017, the DOW was trading at 19943 and it seems that is about where it is due to open around there today, meaning that all the economic benefits that Trump brought to then nation will be wiped out. The virus is not Trump's fault but the only thing that Trump can actually be credited for is the economy and that will all be wiped out (if not more). From now on, health is likely to be a bigger and more important issue than economics and health is not an issue that Trump has addressed the past 3 years and will not be addressing in the future. I believe this was a wake up call for everyone that staying alive is more important than making money and that everyone (especially the rich) have to get involved in making our health system the best in the world.

I believe Health Care will be the most important issue for the 2020 election, especially after everyone in the U.S. will likely lose a loved one this year to the Corona Virus.

By the way, this is a good time to point out that Germany has an excellent Health Care system and an excellent President in Merkel. She started preparing for the Corona Virus in December (versus Trump in March) and in Germany they have only had 11 deaths from 5900 cases of the Corona Virus, whereas we have seen 69 deaths from 3800 cases. In Germany, they have had 6 times less death in almost double the amount of cases, meaning that their approach to the virus has been 10 times better than ours and all of that has to be credited to Merkel and their Health Care system.

Anyhow, and back to the market. I have been in the market since 1977 (43 years) and I have never ever seen a scarier economic problem than the one we are facing right now. It is downright chilling.

We're entering into unknown territory today. Get some cash out of your banks, keep enough to last for one month. Banks may fail. Nobody knows what's going to happen. This is going to be a global depression unlike anything any of us has seen.

 

[Chomsky]

That's exactly what Trump is planning on. It's the only way he can hold onto the White House. The way Trump has handled -- and is handling -- this crisis says all anyone needs to know about Trump. Right up to yesterday he had spokespeople on Fox like Devin Nunes telling people not to stop going out to restaurants or go down to the local 'pub'. NO, that's the wrong advice Devin! People that watch Fox have been getting bad information and Trump has been sending that message from the White House. Right now, this is the time to panic, take this seriously and stay the hell home if possible and AVOID any 'pubs' or restaurants. You can all listen to Fox of course but use your brains and sort out the bad advice from the wise advice. You'll get both on Fox but men like Devin Nunes presents a danger to communities by encouraging people to go out in public with others.

The epidemic in this country is at the stage where it's downright critical that everyone take it seriously. What was the first thing Trump talked about the other day? He didn't begin his press conference with concerns about the coronavirus, he talked about the fed rate and how it's going to help the economy. He doesn't care about human lives, he cares about his popularity. Trump will use any tools at his disposal to win and if the virus is still around or if the country is in a deep recession, he'll use either one of those as a reason to cancel the election.

Exactly. It is the time to panic. Panic is exactly what we need, if we are going to catch this thing and stop it from over-running the healtcare system. Without adequate testing allowing containment, social isolation is the only solution we have at our disposal.

Our choice is to burn the economy, or burn the healthcare system. Neither are great choices, but this is what happens when you're ill-prepared and blow your initial containment opportunity. As this thing unfolds, we are going to see just how badly our testing SNAFU has cost us. Without adequate testing, we are flying blind. Social isolation is now our only option, which is going to kill the economy and one's personal finances.

 

[HumblePi]

Watch one of the business channels, I recommend Bloomberg, I think the trading will be stopped as soon as it opens. This is bad.

 

[Thoreau72]

Yes, for those of us who do not play the market, it appears the house of cards might be collapsing, right here before our eyes.

 

[CaughtInThe]

Mexico will pay for TrumpCare right after they get done paying for the Great Wall Of Trump.

and the debt. don't forget that the debt is now wiped out.

 

[ttwtt78640]

and the debt. don't forget that the debt is now wiped out.

The (national) debt has always been a problem for future politicians (and generations of taxpayers) to deal with. So long as buying votes with borrowed money gets current congress critters re-elected at a rate of over 90% it will continue to be used as a federal "budgeting" mechanism.