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So the banksters have decided to pull the plug on the rigged stock market JUST as Trump's new Fed chair Powell gets into the job.
Nice timing, hardly a coincidence. The cabal are going to blame the crash on Trump, watch the shitshow unfold.
Next headline - Stock market crash blamed on the Russians!
It would seem that the Russians are meddling again. Oh, did I mention Russia?
"Recessions are an outbreak of collective madness." Really? In a world drowning in debt, I would argue that recessions look more like brief moments of collective sanity...
"The new tax law will increase the deficit to a BUSH-like $1 Trillion"
Fixed that for you
America has been leaderless (in fact, worse than leaderless) for a year.
Today is the baptism of fire for a new fed chair.
The clown fired the previous one.
This might be a real emergency, or it might just be a bad scare.
Either way, it highlights the insanity of the United States having a leadership vacuum in a financial crisis.
It cannot go on like this.
The Republican members of the House and Senate have had a year to stand up for their country and do the plainly necessary thing. Instead, they have played every possible kind of game to shut down the Russia inquiry, and it is difficult to see (at least to my eyes) why the chairmen of the respective House and Senate committees, and perhaps others, are not also up to their necks in obstruction of justice.
This clown show cannot continue.
It endangers America.
It endangers the World.
The circus has got to leave town.
If the Republicans have any love of country, at all, they will pass Articles of Impeachment tomorrow.
If they can't do that, then they should resign from public office.
Because no two events are related to each other and everything should be seen in total isolation? If a drunk driver hits a pedestrian, who dies while being treated by an arriving EMT, the EMT is responsible?
Also, your source is way off. Where do they get $1.4 trillion for FY2016? Obama cut the deficit by 2/3 after being handed the worst economy is almost a century. Bush exploded the deficit to finance the tax cuts that helped us into the recession.
The inevitability of free lunch economics as advocated by TE Keynsians, as the Fed threatens to turn off the free cheap money supply and QE programs which have created this new post 2008 bubble.
Even good fundamental numbers can hardly justify the gain the DOW and other indices made in the last one or two years. A lot of assets are overvalued, even based on fundamentals, and this might be the correction. Further, and more worrying, there has been talk about a lack of new and promising ideas in the the tech world that was worrying venture capital investors (a long the lines "an IOT toaster is still a toaster").
In other words "ah, sorry, you were right"
Any time, my friend!
And those who said it wasn’t his merit before can’t blame him for a fall. This should be interesting. But I think it’s just a correction: stock prices are too high, they need to drop at least 10% more before I jump in.
I think you mean 'butterfly' not 'butterly' in the sixth paragraph
Trump is only to blame for a possible return to reality if he previously took credit for unreal prices. OK, so he is to blame.
Those high asset prices are a disaster for everyone seeking to accumulate assets -- young people trying to save fore retirement or buy homes. They were being ripped off, and are being ripped off. Asset prices need to reflect that the are poorer.
"Recessions are an outbreak of collective madness." No, they an outbreak of sanity, following the frenzy of irrational growth.
As a private person, I live within my means, excepting the mortgage I once had, without which I could never have owned a house.
That once-in-a-lifetime exception does not justify monthly credit card debt mounting to over a years income, which is what governments do.
Trump’s economic brilliance was sabotaged by the Deep Market.
The problem is the PTB want to keep stock prices soaring, to vest those stock options and justify executive pay, but they also want to keep wages from rising, to "prevent inflation." And they need to keep the workers spending the money they don't have.
People who are used to having everything may find that once they have taken everything the whole thing collapses.
yes, it's an old joke. Lay off the pipe, "stoned".
I always thought that Trump’s policy was basically inflation.
No, The Fed and TE wanted/wants inflation.
"Be careful what you ask for."
Sort of like the dog that chases cars.
What will it do once it catches one?
Whats the opposite of stagflation: low unemployment, low economic growth, low inflation. Soviet Socialism? Makes sense given that the 'invisible hand' is attached to an orange combover.
Folk-wisdom: The Dow was overdue for a correction. We are nowhere near the point where governments and central banks should interfere.