President Trump: The NEW one and only politics thread

The futures are limit down right now. If the market opened right now, best guess is that the Dow (if that is the gauge you want to use; it is only 20 stocks) will be down more than 1300 points. I am basing that on the DIA, the biggest Dow ETF, which trades in extended hours.

That can obviously change based on the news -- get a vaccine headline and maybe it stems the tide for now. But if the amount of fiscal and monetary "stimulus" they attempted to throw at it yesterday alone didn't stem the carnage, they have zero control anymore.

You are watching a debt / leverage bubble pop. There are trillions of dollars of credit defaults looming. Doing MORE of the manipulation that created all of the leverage (and that ran up stock prices) isn't working anymore. It's amazing that they were able to blow the bubble as big as they could before a catalyst came along to pop the balloon.

This is going to be painful beyond belief. Way worse than it ever should have been, but we're our own worst enemies. Unemployment is going to soar. Failed businesses are going to cease to exist. But it's necessary. We need to deleverage before we will ever get healthy again. They are going to try to fight that reality, so the Federal Reserve will destroy the dollar frantically trying to reinflate the debt bubble, and the government will think that bailouts and helicopter money (which require more debt) will make a difference. But so far, what people should be seeing is that is not going to work anymore. We are going to be forced to accept reality. If that is the case, the harsh part that people will need to wrap their heads around is that the trillions of dollars of debt (sovereign and private) that has been created in the last decade alone has a price tag that is coming due. You sold out your future for a fantasy in the present. That present is now in the past and that future is now. It really is going to suck. It's that much worse that a health epidemic was the pin that popped that debt bubble, for obvious reasons.

 

This hump is an f'in disgrace. He was somewhat OK two days ago and a little OK yesterday. Now he's back to 1) Try to bullshit markets that are going to tank in an hour with a stupid tease, and 2) blame something foreign.