I trust that you know by now that the bottom is falling out of the stock market, and Republican welfare billionaires are freaking out. Trump* tanked the economy for rest of us long ago. This will make our economy even worse, but Trump and the Republican Reich don’t care if we live or die. But they care about their billionaires, and they fear that this Republican Recession will hurt them the way it did when they tanked the economy in 2008.
The fast-spreading coronavirus and a plunge in oil prices set off a chain reaction in financial markets on Monday, a self-perpetuating downward cycle that could inflict serious harm on the global economy.
What started last month as unease about a potential economic slowdown in China has evolved into a borderline panic, with the S&P 500 on Monday crashing nearly 8 percent. The mayhem is threatening to roil the underlying global financial system and the abilities of companies large and small to survive a potential economic monsoon — a downward spiral that is fed and intensified by these destructive forces.
The odds of such a storm grew after an unexpected fight between Russia and Saudi Arabia. After failing to reach an agreement about how much oil to produce and sell on international markets, Saudi Arabia announced it would quickly ramp up production.
Oil prices had been falling as investors fretted about a possible recession. On Monday, they plummeted over 20 percent — the sharpest decline since the first Persian Gulf war. [emphasis added]
Inserted from <NY Times>
Graph credit: Know Your Meme
Trump Faces Huge Leadership Crisis Over Coronavirus And The Economy
Payroll tax cut? That’s only temporary, and the suckers will have to pay it back on 4/15. This fool* wants people to go out into crowded stores and get infected. Will Goose-step Gohmert infect the Republican Reich in Congress?
Dow logs biggest point-drop in history as stocks tumble
The announcer said that, if it wasn’t the Trump* virus, it would have been something else. I agree. Two great minds said that Trump would tank the economy. In July, 2019, Elizabeth Warren said so. In November, 2016, I said so. Great minds clearly fell in the same ditch!
RESIST!!
10 Responses to “Trump* Virus Tanks Economy!”
Sorry, the comment form is closed at this time.
Good post. Gulp!!! Not good all the way around.
Yes, like minds think alike, re: you and Ms. Warren mentioning about tanking the economy…ugh!
(talk about a cluster F…we’re in it and we’ve got it here in the US.
On Monday, the Market has to “suspend trading” (i.e. close) eight minutes after it opened. I didn’t fact check this, but I read that this has NEVER happened before.
I did look at my 401(k) yesterday, afternoon, and there was no obvious effect on it – yet. But we shall see. Of course being already retired, my holdings are all in the safest possible everything, so I may survive.
Now let’s hope the Coronavirus helps tank tRump’s re-election.
The other day I saw a man holding two signs with sketches of tRump on them. One had the caption “Matthew 15:14” and the other “John 8:44.”
The first verse reads: “Let them alone: they be blind leaders of the blind. And if the blind lead the blind, both shall fall into the ditch.”
The second verse: “Ye are of your father the devil, and the lusts of your father ye will do. He was a murderer from the beginning, and abode not in the truth, because there is no truth in him. When he speaketh a lie, he speaketh of his own: for he is a liar, and the father of it.”
Verily I say unto the, the Bible is a great weapon against the bugnuts that think His Orangeness is “ordained by God.”
There’s an excellent resource that allows you to compare how the Stock Market has performed by president – from Trump back to Harding.
Just click on the name to add or delete them from the graph.
https://www.macrotrends.net/2481/stock-market-performance-by-president
Thanks Nameless for the graph. Isn’t it interesting that Trump is always saying that Obama wrecked the economy! Isn’t it interesting that Trump is always talking about the stock market and giving himself credit for its performance! Isn’t it interesting that OBAMA’S NUMBERS ARE FAR BETTER THAN TRUMP’S! This does not account for other variables such as digging out from the GWB 2008 recession. Trump is as stupid as the day is long!
Somebody should show him this and then duck. It will spawn a twitter storm!
He – and maybe more to the point Fox – keep hearing it ans it just washes over them like a gentle breeze. They don’t really hear it, they wouldn’t believe it if they did hear it No amount of facts matter.Because, of course, things MUST be worse for them with a black President than with a white *President. That just stands to reason. (I don’t need the /s, do I?)
Really; “a self-perpetuating downward cycle that could inflict serious harm on the global economy”? It already HAS inflicted serious harm to the global economy.
From Australia:
Europe’s markets showed the same tendencies.
But it wasn’t over yet:
Australia had managed to contain the spread of COVOD-19 reasonably well, but in the last two days four more people have tested positive in Victoria, all four of them had returned the pevious days FROM THE US on different fights from different cities. There have been no more infected people coming in from China for over a week now.
Thank you, fake-president Trump.
It certainly was a shocker to see and hear of this yesterday.
Frustrates me that tRump just makes his stupid comment that “it will disappear.”
Same damn thing that he said about the Coronavirus.
I honestly hope that no one suffers too much from either situation.
Elect a clown, expect a circus! POS!
Thanks, and Amen to all!