dow is down 2, 115

[Demovictory9]

[Under The Radar]

1. Hello darkness my old friend

[Demovictory9]

3. heading back up towards 2000

[at140]

2. It is a clearance sale on Wall Street

Never miss a clearance sale.

[mahatmakanejeeves]

4. Buy low; sell high. THIS IS NOT INVESTMENT ADVICE. It's just an old adage. NT

[Thomas Hurt]

5. I can see it now....all those liberal hippie types in the banking, stock market and brokerages...

are in on this with the great world wide all powerful liberal conspiracy to coup King Donnie the Venal...oh and the media they are in on it too.

[janterry]

6. It's only Monday

This can't be the bottom, yet

[Elwood P Dowd]

10. What will Trump's pants look like if it drops down below 19,000 this week,

which would be below what he inherited. I imagine they will look like this......

[gratuitous]

7. I did some quick calculating

When Obama took office in 2009, the stock market was at 8,228.10. On March 9, 2012, it was at 12,922.02, a 57% increase.

When Trump took office in 2017, the stock market closed at 19,799.85. The last quote I saw for today was 23,768.60 (market still open today), a 20% increase.

If the market did as well under Trump as it did under Obama, the DJIA would close today at 31,085, more than 7,000 points higher.

[Lochloosa]

13. Don't confuse us with facts.

[kurtcagle]

18. Rule of thumb

I always factor in a year for one president's policies to fade out and the other to fade in. The market was still falling when Obama took over, but a year later it was heading back up, the market continued rising after Clinton, but by early 2001, it was beginning to head back down and so forth. By that measure, Trump was at 26,616 one year from his inaugural. His high was at 29,391 in February, and at the moment is hovering around 24,070. In absolute terms, Trump now has the greatest total fall of all time, in excess of 5,000 points. In relative terms, the DOW has shed about 16% of value in three weeks, which is still dwarfed by the 50% drop in 2008, but that took seven months to play out. I don't THINK we'll hit 14,650 (50% of 29,391) again, but at this rate, we will certainly hit 19,799 again.

[at140]

19. In 2009 market was at unusually low level

Based on history, anytime market is at unusually low level, it has rewarded well those who invest for long term at that juncture. It is a no brainer for long term investors. Ditto thing happened when the internet bubble burst and stock markets were on clearance sale.

So the change in market levels during any president's term is more based on where the starting level of market was.

[gratuitous]

20. My point being . . .

My point being that Obama inherited an economy in shambles, due in great part to the meltdown of the economy thanks to Republican deregulation and the unleashing of the robber barons on the American people. Again. Had McCain won in 2008, his fealty to Republican economic policies would have exacerbated the situation and made it worse. Instead, Obama was elected, and the American Recovery and Reinvestment Act was passed, the Consumer Finance Protection Bureau was created, and other measures were taken to stabilize markets, rein in the worse excesses of the vulture capitalists, and save the supply siders from themselves.

Trump inherited a far more stable economy, and like his last Republican predecessor, drove the economy into the ditch with a bundle of short-sighted policies, greatly reduced federal oversight of economic actors, and yet another reckless tax cut. For all the crowing Trump supporters do about "How's your 401(k)?" the reality is that those 401(k)s would be doing a lot better under Democratic economic programs.

[at140]

21. Actually we both are making the same point!

As you said Obama inherited a bad economy and a bad stock market.
Trump inherited a recovered economy and a decent stock market.
My only point is bad stock market show the most gains in the long term.

The DOW nearing 30,000 was grossly overvalued, and I have been out of the market because of that.
It was vulnerable to any bad event and the corona virus has proved it. I began nibbling on some beaten down stocks today, as a matter of fact. I am not a short term trader. I buy low, hold long term, then sell if great profit shows up.

[Warpy]

8. Sic transit glorious money

I knew today was going to be grisly, My net worth has taken a real beating but if that's what it takes to get that ignorant ass out of office, let it fall and let him pretend he didn't fuck it up. Even the plutocracy have got to be slowly realizing that having one of their own in the office is a bad idea.

[exboyfil]

9. DJIA up 21% for Trump since he was sworn in

Obama 1st term 65%
Obama 2nd term 45%

Share with all your friends.

[Chainfire]

11. It appears that the world markets

Think we have a bigger problem than the seasonal flu.

MAKE AMERICA GREAT AGAIN (dump trump)

[Roland99]

12. As of right now, today would be #13 in terms of all-time worst % losses and worst since 10-15-2008

[mcar]

14. ...

[BeyondGeography]

15. There is a lot of leverage out there

Companies that were bought at absurd multiples because stupid money was looking for a home. Not just big companies either. Private equity ran out of things to buy and in the past 2-3 years did a lot of deals with small- and mid-size companies which now have big monthly obligations to meet based on unsustainable projections. This is going to hurt.

[dubyadiprecession]

16. This the worst day for the market since Oct 26, 1987!

Trump is so f*%#ed!

[BootinUp]

17. Yeeeeee Haaaaaaaaa!! Look out below!!!!!

Sorry just needed a good yell.