S&P 500, Dow on track for worst week in two years

Discussion in 'Politics, Religion, Social Issues' started by samcraig, Feb 2, 2018.

  1. samcraig macrumors P6

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    #1
  2. Dmunjal macrumors 65816

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    #2
    You have look at what's going on. The market is dropping because investors are worried about rising interest rates due to inflation as a result of rising wages. Today's job report said wages were up the most since the recession.

    https://www.cnbc.com/amp/2018/02/02/nonfarm-payrolls-jan-2018.html

    What may be bad for Wall Street might be good for Main Street.
     
  3. samcraig thread starter macrumors P6

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    #3
    No argument. But this is once again proof to those that believe that the DJIA is an indicator of economic growth. Often they point to the incredible stock market as the indicator.
     
  4. Dmunjal macrumors 65816

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    #4
    Trump was an idiot to continue that message from Obama. He should have made the point I'm making that Main Street didn't participate in the recovery these past eight years and he was going to reverse that.
     
  5. samcraig thread starter macrumors P6

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    #5
    Trump is all about ratings, audience size, etc. He's either a complete moron, or thinks his base is.
     
  6. Mac'nCheese Suspended

    Mac'nCheese

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    #6
    History has proven that the stock market always takes a steep dive on groundhogs day.
     
  7. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #7
    There has been a large run up in the past months, it's time for a correction to test support levels in the market and interest rates going up is a good time.
     
  8. MacNut macrumors Core

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    So you admit Trump created a bubble that will pop soon.
     
  9. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #9
    No, a correction is normal market behavior. Problem is newbies trying to draw conclusions off of weekly gains/losses.
     
  10. Dmunjal macrumors 65816

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    #10
    Like Obama didn't before him?

    In reality, neither are at fault. It's the Fed and will always be the Fed. They own every bubble and bust this century.
     
  11. MacNut macrumors Core

    MacNut

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    #11
    It’s not done correcting.
     
  12. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #12
    You predicted the stock dump after Trump was elected as well right? Put your crystal ball away.
     
  13. MacNut macrumors Core

    MacNut

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    #13
    Wasn’t the bubble in 2000 after the .coms were over valued. Or in 08 after the bad mortgages went bellly up. Trump wants to take credit for this massive bull market. Let him take credit for the sell off that follows.
    --- Post Merged, Feb 2, 2018 ---
    I predicted the country going to hell. I was right on that one.
     
  14. Dmunjal macrumors 65816

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    #14
    The 2000 bubble popped after the Fed raised rates after they pumped the economy with money prior to Y2K. 2008 was the housing bust that was caused when the Fed raised rates after lowering them to 1% after the dot-com bust and 9/11.

    Trump is definitely walking into a trap by taking credit for the market. He will definitely pay for it like Bush did. This isn't it, though. The real crash will happen right before the election. Either 2018 or 2020.
     
  15. eatrains macrumors 6502

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  16. obeygiant macrumors 68040

    obeygiant

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    #16
    The markets are up 28% in the last year! OMFG THE SKY IS FALLING!
     
  17. GermanSuplex macrumors 6502a

    GermanSuplex

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    #17
    The markets are correcting themselves. Trump wasn’t responsible for the rise, nor is he responsible for the drop. Unless you ask Trump, of course, who is only responsible for the rise. Where the markets are six months, a year or two down the road are better indicators.
     
  18. LizKat macrumors 603

    LizKat

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    #18
    What goes down can go up again. Ask any hapless fuel provider trying to round up spot oil for the cold snaps this winter. Half the country is cold as hell usual and half is warmer than usual but it's the wrong halves on both counts so... :confused: :D :eek:
     
  19. stylinexpat macrumors 65816

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  20. Zombie Acorn macrumors 65816

    Zombie Acorn

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  21. TiggrToo macrumors 6502a

    TiggrToo

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    #21
    I think the point here is that, for the last year Trump and all his supporters, have been telling the rest of us that he and he alone is responsible for the stock market growth and it's down to his skillful and adept management and abilities as a business leader and nothing else.

    Dow goes from 18,589 on November 9, 2016, to 25,075 today, for a new all-time Record. Jumped 1000 points in last 5 weeks, Record fastest 1000 point move in history. This is all about the Make America Great Again agenda! Jobs, Jobs, Jobs. Six trillion dollars in value created!
    — Donald J. Trump (@RealDonaldTrump) January 5, 2018

    Meanwhile, the wise among us knew that that argument was a load of Dingos Kidneys. However all that matters here is that his rabid followers believe every single word.

    Meanwhile, by saying little or nothing about the fall, he removes himself (in his acolytes eyes) from blame for the massive drop but will naturally tweet again the moment it starts to climb again.

    What matters here is the truth - and the fact we have a President who relishes in lies and deceit at every turn.

    Trump - until just recently - had failed to enact\sigh any meaningful legislation that would have even potentially spurred the growth, yet he took full credit for doing so. Now, let's be honest, that's what ALL presidents do - pretty sure Obama at times did so as well. However markets climb and fall not just on Presidential actions, but from world events, movements by the Fed, weather, market sector changes etc....

    The trouble here is that this is just yet another twisted untruth from the master of lies. Obama, Bush, Clinton etc - they all had their moments were the true politician showed itself and the odd porker popped out. For Trump though, it's an everyday occurrence and a manifestation of the cult of personality he's creating.

    And THAT is the problem.
     
  22. BeeGood macrumors 68000

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    #22
    Did your day-to-day life honestly begin to look like hell after Trump took office?

    I’m asking about real life, not what you read on MR and in the news.
     
  23. RichardMZhlubb Contributor

    RichardMZhlubb

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    #23
    Yes. I’m not so selfish that I can feel good when lots of others are getting screwed.
     
  24. Rogifan macrumors Core

    Rogifan

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    #24
    It’s not complicated. Trump likes big numbers. The bigger the better. He doesn’t care whether a rising stock market trickles down to Main Street or not. All he cares about is that it’s the highest ever and it’s on his watch. It was the same with the tax cut. Biggest in history. And I’m sure he’ll be touting his infrastructure plan as the biggest ever too.
     
  25. BeeGood, Feb 3, 2018
    Last edited: Feb 3, 2018

    BeeGood macrumors 68000

    BeeGood

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    #25
    That wasn’t the question. Furthermore, you can empathize with people without internalizing what they’re going through.

    But since you’ve brought it up, who are all of these tens of millions of people who are “getting screwed” to the point that their lives are now “hellish”?
     

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232 February 2, 2018