So Ratner just pointed out that it took Don the Con's leadership one month for

[malaise]

the precipitous fall in the stock market that took a year during the Great Depression.
This is what happens when an arrogant, ignorant fool is put in charge of anything.

Is he winning enough yet?

[Aquaria]

1. This isn't quite correct

There was an unusually fast and steep increase in the Dow, but it took over a year--before the Great Depression. The upwards trajectory lasted from the beginning of August in 1928, until the market hit a record high at the beginning of September of 1929. From there, the market experienced high volatility until the end of October with the infamous Black Friday crash. So it's the crash and then the run on banks (and a devastating climate crisis known as the Dust Bowl) that created and fueled the Great Depression. Not the Depression that caused the crash.

Here's the graph for what happened in the leadup to Black Friday:



What's disturbing about that graph is how it's a lot closer than it should be to what's been happening since our own record market peak in February.

I'm getting a queasy feeling that we're going to get collapse so bad that it makes Black Friday look like a boom.

[malaise]

2. Thanks

Folks like you are why we love DU

[FailureToCommunicate]

4. And DITTO for you, malaise.

[malaise]

11. Thanks

[Ford_Prefect]

3. Federal Government run like a business eh? Imagine that...

[Moostache]

5. The longer the "leaders" of this country dither, the deeper the coming DEPRESSION is getting...

This is not going to be a recession, we are heading for a global depression and the lessons from 1929 and 2008 are not sufficient to deal with this situation in any way...

The economy of the USA has been shattered. The glass from this catastrophe is still flying through the air, the extent of the total dammage is not known, but the old economy (the vase) is GONE. A service-based economy cannot survive a shut down of interactions and a dearth of service opportunities.

We need a massive restructuring of the entire thing - a return to audacious, enormous NATIONAL projects like the TVA, the Interstate Highway Project, NASA (Mercury, Gemini, Apollo and STS - COMBINED!). The New Deal put a floor under the nation in 1932, if we do not have action BEFORE 2023, this nation is going to cease to exist as a functional body...this cannot wait for the worst to become apparent. We need action on the scale of FDR's first 100 days, and we needed it to start 4 weeks AGO!!!

History will record McConnell's recess of the Senate as a historical turning point - opportunity lost that could have saved lives, businesses, families. I have to stop, my blood pressure is spiking and I am literally fuming right now...

[malaise]

12. Thoughtful post

I'm betting MoscowMitch went home for a link up with the biggest of their lobbyists/donors

[C_U_L8R]

6. It didn't take a virus

Trump gutted our infrastructure so badly that any serious event would collapse it. I tend to think it was on purpose... but if not, what a colossal fuckup. What is he still in office? Where are the righteous hordes of Republicans and Democrats running him out of town for ruining their lives?

[HotTeaBag]

7. Malaise, with respect, I'm curious as to what you think any President could have done

in a situation like this.

And just to be clear, I believe (like most people) that the economy that Trump has been touting as his own was anything but, that he inherited it from eight years of Obama, and the things that he did do (tax cuts, deregulation) were good for business but horrible for America.

In the face of what is very likely to be a global depression I'm not sure what Trump could have done to stave off the markets falling like they have. Even if he would have acted sooner and not denied that anything was wrong and then continuously bungled the response since, how could we have avoided this?

I can see that if he would have shown calm, competent leadership then that might have slowed the drop, but the losses (in my opinion) were inevitable because of the nature of what's happening.

Again, much respect.

[malaise]

13. He could have listened to the experts and started testing immediately

as usual all he thought about is how coronavirus would affect his reelection chances. Well now he knows - he will be kicked the hell out of the WH,

[llmart]

8. "Is he winning enough yet?"

Yes, he and his grifting family ARE winning. They've already taken millions for themselves and squirreled it away offshore somewhere, especially he and Kushner. Make no mistake about that.

It's the rest of us that aren't "winning". Well, us and Putin. This has all been by design.

[malaise]

15. Not for much longer

Take that to the bank

[llmart]

17. Too long to suit me.

And I can't "take that to the bank" because my bank is not open!

[Alacritous Crier]

9. #TrumpDepression. -- nt

[malaise]

16. Well rather than the Great Depression

we can call it the BiglyDepression

[warmfeet]

10. He promised we would be sick of winning so much.

Turns out, we are sick of him, and millions are just plain sick. Seeing him in prison would make me feel much better.

[malaise]

14. Nicely put