The Height of Stupidity/Incompetence - DOW down 500 points

[Chomsky]

What are you talking about. Trump is playing like he has the big stack at the table when he doesnt.

Its never a good idea to try to double up your stack through someone who doesnt have as much to lose as you do, or when you dont have the nuts to begin with. Both situations are highly risky. China has more chips and better hole cards at the moment...the only saving grace is that they didnt realize it yet and simply kept calling our bluff. Well, it appears the light may have come on around the turn card and they realize they actually have the leverage. They didnt stall talks by accident. In poker terms, Trump is about to get check-raised and his ass put on the line. Sure, China has a lot to lose if this **** goes south, but the ramifications of what it does to OUR economy will be the end of the line for a Trump presidency.

The bolded is an interesting way to put it, but you may be right.

In strictly financial terms, Trump would seem to hold power over Xi. This can be seen by China's relatively largely crashed markets today, vs our market's more modest hit. But in political terms, Xi can likely take far more economic hit and damage than Trump can. Xi has turned his office into a near dictatorship. Xi is in for life, and Trump is facing an election.

So, you make a good point I think. If Xi wants to push this, I believe he can survive the politics far better than Trump. Trump's electoral position is tenuous, as it is. The economy will weigh strongly on the election. If Trump crashes the economy, he is toast and he knows it. So he better hope Xi won't call his bluff, because he can't weather a trade war that becomes damaging to the economy.

 

[Bucky]

So now we treat it like a game of Jeopardy? God you guys are horrible at this.

The US economy is none of these things:

A private sector business.
A game of poker, Jeopardy, or chess.
A personal credit card you can just let default when you cant pay the monthly minimums.

The sooner people start understanding this, the sooner we can stop with the ****ty analogies.

James on Jeopardy can afford to play the way he does because if he had lost on the first day, he still would have left a grand richer than when he showed up. You can have zero ****s to give if you are playing on house money. Mot so much on your own dime, lest you have so many dimes it simply doesnt matter.

That isnt the case with the economy.

The Democrats treat the U.S economy as a giant social studies project. Print as much money as possible without any concern or repaying that money.

Democrats believe printing money will solve problems. They embrace inflation which could lead to a massive correction.

 

[justabubba]

The Democrats treat the U.S economy as a giant social studies project. Print as much money as possible without any concern or repaying that money.

Democrats believe printing money will solve problems. They embrace inflation which could lead to a massive correction.

just last year the republicans passed a tax bill that said our government would prefer to place one and a half TRILLION dollars on the federal credit card rather than receive taxes if that amount. 83% of that tax benefit went to the 1%

that such fiscal irresponsibility would so recently occur and you would now insist that it is the democrats who are spendthrifts only demonstrates how little you understand about federal tax policy

The Republican tax bill got worse: now the top 1% gets 83% of the gains - Vox

 

[bullseyelqcs]

The Democrats treat the U.S economy as a giant social studies project. Print as much money as possible without any concern or repaying that money.

Democrats believe printing money will solve problems. They embrace inflation which could lead to a massive correction.

Are you kidding me with this?

Spare me the outrage about printing money when its at least an attempt to pay for what they are buying at the time of purchase. You are defending a party whose entire economic premise seems to be that of Whimpy from Popeye.....they will gladly pay you Tuesday for a hamburger today. To defend the premise that borrowing and spending is somehow better than taxing and spending is idiotic.

Bear in mind, we currently have the President pressuring the Fed to keep interest rates artificially low. Hes doing that because hes seen the end result of the coming correction before.....when GWB was the President and stood in front of the country crowing about being proud to be the President at the time of the highest rate of home ownership in history, nobody was complaining about the interest rate being so low that people who shouldnt have been able to get homes did so. When the Fed finally did the right thing and raised rates to where they should be, it basically gutted everyone when they couldnt afford to pay the new rate on their mortgages. Enter the mess that he left when he left office.

The only difference between then and now is that we have a President who isnt going to give two ****s about what hes doing to the economy now because it will end up benefitting him post Presidency when he can go in and buy up all the **** he destroyed as President and turn profit on it later. At least GWB showed remorse afterwards.....you can bet that same wont happen with the Ego in Chief.

 

[VanceMack]

Incidentally, as to the -500 futures that started this thread, the Dow is now down +/- 100 and falling.

A lot of people panicked for nothing.

Correction. At 2:58 -62

Man that has to piss the people off that were hoping for the country to fail so it would hurt Trump politically.

 

[VanceMack]

just last year the republicans passed a tax bill that said our government would prefer to place one and a half TRILLION dollars on the federal credit card rather than receive taxes if that amount. 83% of that tax benefit went to the 1%

that such fiscal irresponsibility would so recently occur and you would now insist that it is the democrats who are spendthrifts only demonstrates how little you understand about federal tax policy

The Republican tax bill got worse: now the top 1% gets 83% of the gains - Vox

The previous administration single handedly more than doubled the entire accumulated national debt of this country and your lot cheered it happily along. Watching democrats today talk about "fiscal responsibility" and expressing any type of concern is hilarious.

 

[jimbo]

Man that has to piss the people off that were hoping for the country to fail so it would hurt Trump politically.

Probably. The OP:

"Talk about stupidity and incompetence. This takes the cake. The DOW is down 500 points as I write this post and everything that has been gained with the good earnings and economic reports over the past 4 weeks has been lost by one Trump tweet."

 

[Bucky]

Are you kidding me with this?

Spare me the outrage about printing money when its at least an attempt to pay for what they are buying at the time of purchase. You are defending a party whose entire economic premise seems to be that of Whimpy from Popeye.....they will gladly pay you Tuesday for a hamburger today. To defend the premise that borrowing and spending is somehow better than taxing and spending is idiotic.

Bear in mind, we currently have the President pressuring the Fed to keep interest rates artificially low. Hes doing that because hes seen the end result of the coming correction before.....when GWB was the President and stood in front of the country crowing about being proud to be the President at the time of the highest rate of home ownership in history, nobody was complaining about the interest rate being so low that people who shouldnt have been able to get homes did so. When the Fed finally did the right thing and raised rates to where they should be, it basically gutted everyone when they couldnt afford to pay the new rate on their mortgages. Enter the mess that he left when he left office.

The only difference between then and now is that we have a President who isnt going to give two ****s about what hes doing to the economy now because it will end up benefitting him post Presidency when he can go in and buy up all the **** he destroyed as President and turn profit on it later. At least GWB showed remorse afterwards.....you can bet that same wont happen with the Ego in Chief.

He is pressuring the FED imo because the talks between the Chinese are not going well. Trump badly needs a cataylst to get this market in super drive.

 

[Bucky]

Probably. The OP:

"Talk about stupidity and incompetence. This takes the cake. The DOW is down 500 points as I write this post and everything that has been gained with the good earnings and economic reports over the past 4 weeks has been lost by one Trump tweet."

I feel bad for people that write about the market.

I remember when Amazon reported earnings and the stock went up like 3-5% after hours.

The headline was, "Amazon smashes earnings, has record profits."

Two hours later the stock was down and the new headline was, "Amazon disappoints on earnings reports disappointing guidance."

 

[JustHanging]

China and the U.S. had been ironing out the details of the trade agreement and China's trade minister was due to arrive in Washington this week to finalize everything by May 10th and that Xi and Trump would then announce a date when it could be announced officially.

Nonetheless, restless Trump:



and now:



Talk about stupidity and incompetence. This takes the cake. The DOW is down 500 points as I write this post and everything that has been gained with the good earnings and economic reports over the past 4 weeks has been lost by one Trump tweet.

Read all about it here:

Not if he was shorting stocks. Then it was a brilliant move. Well, for him. It would suck for the marks.

 

[bullseyelqcs]

He is pressuring the FED imo because the talks between the Chinese are not going well. Trump badly needs a cataylst to get this market in super drive.

Is that a not so forward admission that the tax cuts didnt do what they were allegedly going to?

That having been asked, half in jest mind you, the real question is if that is somehow a good thing at all? I mean seriously.....if you are right, you have basically laid out the case that Donald would do the wrong thing for the country for his own benefit.

Liberals have been saying that since 2016 and have been told that was insane. Thanks for saying it out loud.

 

[bullseyelqcs]

Not if he was shorting stocks. Then it was a brilliant move. Well, for him. It would suck for the marks.

Way to applaud the President ****ing the country over for his own personal benefit.

For his next trick, watch as he punts a baby and people cheer.

SMDH

 

[jimbo]

I feel bad for people that write about the market.

I remember when Amazon reported earnings and the stock went up like 3-5% after hours.

The headline was, "Amazon smashes earnings, has record profits."

Two hours later the stock was down and the new headline was, "Amazon disappoints on earnings reports disappointing guidance."

I can give you another example. i remember it well.

Nov 9th, 2016. 2:00 AM. Something about somebody losing an election.

The market dropped 600 points in 15 minutes. 10 hours later it was up.

 

[jimbo]

Not if he was shorting stocks. Then it was a brilliant move. Well, for him. It would suck for the marks.

I've seen no evidence President Trump plays the market. He's a real estate investor, which is the opposite end of investing.

 

[VanceMack]

Probably. The OP:

"Talk about stupidity and incompetence. This takes the cake. The DOW is down 500 points as I write this post and everything that has been gained with the good earnings and economic reports over the past 4 weeks has been lost by one Trump tweet."

I reckon they can all dare to dream.They remind me of some guy riding in a plane screeching "I hate the pilot!!! I hope he crashes us into a mountainside!!!"

 

[HumblePi]

So, the Stable Genius crashed China, crashed Asia, tanked the AUD, and sent the Dow futures to -500?

Why, am I not surprised?

Remember two years ago when we were worried that Trump would load his swamp up with ghoulish money hunger cabinet members? Remember when we thought he would be an incompetent fool on the global stage and destroy the US strength and respect in the free world? Remember when we thought he might even stoop as low as proclaiming himself absolute ruler for life or even get close to starting world war 3? All those things don't seem so alarmist today. Jerry Falwell Jr. says Trump was owed an extension of his term as “reparations” for the Mueller investigation. I bet Trump loves that idea and will try to get away with that too.

 

[Moon]

The Democrats treat the U.S economy as a giant social studies project. Print as much money as possible without any concern or repaying that money.

Democrats believe printing money will solve problems. They embrace inflation which could lead to a massive correction.

Republicans have proven to be no better when it comes to reining in spending.

 

[Bucky]

Republicans have proven to be no better when it comes to reining in spending.

The Democrats take the cake with FDR's new deal and LBJ's Great Society.

 

[Chomsky]

Remember two years ago when we were worried that Trump would load his swamp up with ghoulish money hunger cabinet members? Remember when we thought he would be an incompetent fool on the global stage and destroy the US strength and respect in the free world? Remember when we thought he might even stoop as low as proclaiming himself absolute ruler for life or even get close to starting world war 3? All those things don't seem so alarmist today. Jerry Falwell Jr. he was owed an extension of his term as “reparations” for the Mueller investigation. I bet Trump loves that idea and will try to get away with that too.

Agreed. It's turned-out far worse, than ever imagined.

But it may get worse. We are now seeing Trump refusing to cooperate with Congress' oversight authority, and ordering his administration to ignore Congress. We've also seen him blow-off Congress' specific expressed legislation, by declaring a Presidential emergency. So, when one of the courts eventually rules against him in a subpoena case, do you doubt he might refuse to honor the court? I'm giving it 50/50 at best, that he cooperates. I suspect it might even be lower than that though, since Trump never fails to disappoint.

 

[Luckyone]

Not if he was shorting stocks. Then it was a brilliant move. Well, for him. It would suck for the marks.

He is not playing the stock market, at least not as a trader. He does not need an extra million here or there. In addition, he needs and wants the market to continue higher as it helps his re-election and his ego, which are much more important than making some short-term money.

 

[HumblePi]

Agreed. It's turned-out far worse, than ever imagined.

But it may get worse. We are now seeing Trump refusing to cooperate with Congress' oversight authority, and ordering his administration to ignore Congress. We've also seen him blow-off Congress' specific expressed legislation, by declaring a Presidential emergency. So, when one of the courts eventually rules against him in a subpoena case, do you doubt he might refuse to honor the court? I'm giving it 50/50 at best, that he cooperates. I suspect it might even be lower than that though, since Trump never fails to disappoint.

And I think Nancy Pelosi is dead-on when she remarked that she doesn't think Trump will accept a defeat in 2020 and will refuse to leave. That's when all hell breaks loose in this country and the tanks, military and everyone with a gun on both sides comes out in the open.

 

[PIPEWRENCH]

Hahahaha, changing things after a long time of doing it one way guarantees you a divorce. Try telling your wife of 30 years that you are tired of giving her most everything and that from now on it is going to be 50-50 or else and see if she reacts rationally.

I am not married to China. This is business and it is time to start playing fair. If you are not up to the game get out.

What you ask for is irrational as far as what human nature is. That won't work. What could work is small changes little by little that are barely felt but do advance your side. Nonetheless, demanding a brusque and total change to happen now is a sure fire way for things to break down.

I would have been fine with that except our previous leaders clearly did not have the American peoples best interest as a priority. For 70+ years all our leaders have screwed the people and this country. Trump needs to do more with the help of congress. It is time our government works toward our best interest.

If you have any knowledge of human nature you will see that doesn't work. Perfect example is living with an alcoholic or a drug user. Changes for the better rarely happen overnight. It is a long term process in which small gains are accomplished and it does require a lot of counseling to make it successful even then.

Sorry but irrelevant. This not about drug counseling. This is business and Trump has proven he can do more than all his predecessors combined in the last 70 years when it comes to negotiating a good deal for us.

You really have no understand about what human nature is and how it works. This likely means that you are thinking mostly of yourself and do not understand how things actually work.

It is human nature to make favorable deals for yourself and the people you represent. Only idiots make deals that screw over themselves and the people they represent.

 

[Chomsky]

And I think Nancy Pelosi is dead-on when she remarked that she doesn't think Trump will accept a defeat in 2020 and will refuse to leave. That's when all hell breaks loose in this country and the tanks, military and everyone with a gun on both sides comes out in the open.

That strikes me as a little too dystopian of a prediction. But Micheal Cohen did say the same thing.

Problem is, the military. No way would the brass go against an election. Trump may have administrative minions and grass-roots supporters, but he does not and cannot control the military (or Police) in extra-Constitutional terms.

But that being said, if Trump revolts the GOP politicos will probably revolt right along with him. But who cares, at that point; they'll be out of power.

 

[VanceMack]

Remember two years ago when we were worried that Trump would load his swamp up with ghoulish money hunger cabinet members? Remember when we thought he would be an incompetent fool on the global stage and destroy the US strength and respect in the free world? Remember when we thought he might even stoop as low as proclaiming himself absolute ruler for life or even get close to starting world war 3? All those things don't seem so alarmist today. Jerry Falwell Jr. says Trump was owed an extension of his term as “reparations” for the Mueller investigation. I bet Trump loves that idea and will try to get away with that too.

Remember when people were actually stupid enough to believe all that bull****?

 

[HumblePi]

Remember when people were actually stupid enough to believe all that bull****?

Keep in mind that so far, all our fears have been realized, with one exception, the final one.