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News Dow bouncing around -1000

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IronWing

No Lifer
Jul 20, 2001
58,373
10,538
126
Dow Jones closed at 19,804.72 on January 19th 2017 (pre-inauguration day).

DJI is at 19,845.81 right now.

It's quite possible that if not today then within next few days markets will officially go to pre-Trump era erasing yet another Trump "achievement"

Winning... /s
DOW closed higher so doesn't count. The DOW has skyrocketed 0.27% since Trump took office.
 

ShookKnight

Senior member
Dec 12, 2019
531
456
96
Guys... I got it.

PORK BELLIES.

No, listen, I saw it in a movie once!! I just need a few things and we are good to go;
-a prostitue
-a homeless man
-two old white guys
-a gorilla
-a man in a gorilla suit to get raped by the gorilla
-a dime bag of coke
-a banana to shove into a car's tail pip... wait, wrong movie...

Anyway, let's work together and gather these things!! We can save the Stock Market!! We can save America!!
 

fleshconsumed

Diamond Member
Feb 21, 2002
5,725
918
126
This. Who f'ing knows what's going to happen at this point.

I don't think this is civilization ending by any means. There econ will take a punch this Q, but everyone will be racing back to work to restock shelves once panic subsides and this matures.
We can't stay on lock down forever.

Not saying it's going back to business as usual, but this isn't 2008 either.
The worst prediction currently is that this virus is so contagious and so deadly that we will have to stay on lockdown or risk runaway outbreaks overwhelming healthcare system until vaccine is found. Kind of like Spanish Flu that had a second wave. If that prediction is true, then we will have to stay on lockdown for roughly 2 years in which case yes, this is way way worse than 2008.
 

feralkid

Lifer
Jan 28, 2002
14,341
1,530
126
Guys... I got it.

PORK BELLIES.

No, listen, I saw it in a movie once!! I just need a few things and we are good to go;
-a prostitue
-a homeless man
-two old white guys
-a gorilla
-a man in a gorilla suit to get raped by the gorilla
-a dime bag of coke
-a banana to shove into a car's tail pip... wait, wrong movie...

Anyway, let's work together and gather these things!! We can save the Stock Market!! We can save America!!

You forgot Al Franken.
 
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NWRMidnight

Senior member
Jun 18, 2001
328
120
116
i'm not important enough to bank with the fed
You must not realize that savings account interest rates are tied to the feds rate, generally lower because the feds is where most banks get some of their money they do business with.
 

shortylickens

No Lifer
Jul 15, 2003
73,375
7,235
126

shortylickens

No Lifer
Jul 15, 2003
73,375
7,235
126
Let me guess. They borrowed the money to buy back their own stocks.
They know the ridiculous kind of debt they are piling up can never be paid back, so they just don't worry about. Same as the federal government. and a lot of major cities.
 

Bitek

Diamond Member
Aug 2, 2001
8,511
2,383
136
The worst prediction currently is that this virus is so contagious and so deadly that we will have to stay on lockdown or risk runaway outbreaks overwhelming healthcare system until vaccine is found. Kind of like Spanish Flu that had a second wave. If that prediction is true, then we will have to stay on lockdown for roughly 2 years in which case yes, this is way way worse than 2008.
Can't say it's impossible, I just don't see how that's sustainable. Complacency and frustration will set in eventually.

Can't keep kids out home and out of school for years. Hard to imagine even the fall. Maybe, but parents are already getting frazzled and it hasn't been a week. At some point people will want this to be over regardless.

That's basically what China did. Virus contained good enough, and send everyone back to work
 
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Bitek

Diamond Member
Aug 2, 2001
8,511
2,383
136

IronWing

No Lifer
Jul 20, 2001
58,373
10,538
126
Modern corporations operate as debt engines, sucking up every bit of credit they can scrounge and then when they run out of suckers, go bankrupt. The whole concept of "capital" has been turned on its head and central bank policy has fueled the change.
 

vi edit

Elite Member
Super Moderator
Oct 28, 1999
60,240
3,148
126
Re: Will this be worse than 2008?
Answer: Hold on to your butts


Oregon hit ~ 12% unemployment in 2008. They are bracing for 20% this year.
 

shortylickens

No Lifer
Jul 15, 2003
73,375
7,235
126
I was in Eugene when the market crash happened in 2008 and lost my job at Hynix.
Went to Tektronix right after that. They didnt extend my contract after 6 months.
Lost my second job in 2008.
Bad times. But I moved home to be with mom and go to school, so I never applied for unemployment in Oregon. Makes you wonder how many people were really out of work.
 
Jan 25, 2011
15,485
6,471
146
I was in Eugene when the market crash happened in 2008 and lost my job at Hynix.
Went to Tektronix right after that. They didnt extend my contract after 6 months.
Lost my second job in 2008.
Bad times. But I moved home to be with mom and go to school, so I never applied for unemployment in Oregon. Makes you wonder how many people were really out of work.
Yeah as much as I am hating my job right now I have no concerns about it going away. I'm fortunate that while everyone is worrying if they will have a paycheck that I know as long as I can come in to work the job will be here.

Can't imagine single income service workers right now and what amount of confusion and panic they are going through.
 

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