JohnPCapitalist wrote: ↑Thu Jul 23, 2020 9:35 pm
woodworker wrote: ↑Thu Jul 23, 2020 8:29 pm
Personally, I believe the Dow Jones will drop by at least 3,000 points before the election, if not more. Main Street and the vast majority of the country have little or no stake in Wall Street and, to quote a sign from the 2008 crash, "Jump Motherfuckers." Sorry John P.
No need to apologize to me. Quite the opposite. I agree with your analysis, and I've said something similar on a couple of the Fogbow Meetup calls.
I think you're a little too conservative on the drop in the Dow this year. I think we could be lower than the March lows at the end of the year. We probably risk a 40% drop before this is all over in 2023-2024. And that will be even further in the future and a bigger drop if Trump is reelected.
That is why I covered my touchas with the "if not more." For the goyim, touchas mean rear end.
Another that scares me if the great orange shitgibbon is re-elected is that he will get rid of Powell and any sane members of the Fed still left, appoint some acting members and get them to invest directly in the market with treasury moneys. As long as he promises to keep buying the market could go up. Of course then it would absolutely no relationship with reality, not like it does now (which one is the sarcasm emoji?).
One thing I have thinking is that when Biden takes office, he should just tell the Mint to make a dozen or so of the Trillion dollar coins and use them to pay off a huge chunk of the national debt. Republicans, conservatives and investors would scream bloody murder, but how is that any different than continuing to run huge deficits which never really seem to bother investors. If Biden can show that the US has changed course, that we will be a responsible citizen, that we are going to invest in ourselves, e.g., infrastructure, education, and renewables, I think he could pull it off.
bring out the tumbrils. I am so fucking filled with pain and anger at what is going on in this country. I do deeply believe that if trump somehow retains power it will be the end of democracy in this country and the end of this country as we know it.