Watch Trump's Stock Market Collapse Prediction Go Down in Flames

[Yo_Mama_Been_Loggin]

During his campaign, Trump told voters many times that the entire country would go to hell if Americans elected Joe Biden president. Among other nonsensical predictions, Trump spread a bizarre virus hoax conspiracy that Covid-19 would vanish following the election. But now weeks after the election cases continue to rise, setting new records daily.

Candidate Trump also tried to scare people into voting for him, telling them that Biden would remove God from America and that the stock market would crash, causing average citizens to lose their retirement because 401k plans would suffer without him in charge.

But on Tuesday, the Dow Jones Industrial Average went above 30,000 for the first time ever, showing no signs that a soon-to-be Trump-less White House is cause for investor concern.

Link to tweet

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Of course, Trump ignored his past prognostication on Tuesday when he tried to take credit for the record-breaking mark by holding a one-minute press event to brag and possibly set a record of his own for the most nonsensical statements uttered in a minute.

https://www.yahoo.com/entertainment/watch-trump-stock-market-collapse-220805461.html

[PJMcK]

1. Hey, Trump!

You were wrong!

My portfolio has gone up since you lost the election.

You fucking loser!

[former9thward]

2. People who make stock market predictions based on politics end up poorer.

People on this site, and countless others, said that a Trump victory in 2016 would crash the market. It didn't. The market went up. Trump says Biden wins will crash the market. It has not. The market will do what it will do despite partisans who think their brand controls the market.

[PJMcK]

3. Exactly correct

Although the markets react on a daily basis to nonsensical events, in the long term, the markets always rise.

Trump's an idiot.

[Yavin4]

6. The market reacts primarily to the Fed

Rates are at zero and will stay that way for the next 3 years forcing savers into the market in order to get a decent return.

[Wellstone ruled]

4. Two reasons,

stability and Janet Yellen. Wall Street knows there is another stimulus of 3-5 trillion coming as a result.

[Bucky]

5. and Wall Street will double dip from that stimulus, as usual

Investment banks and other firms on Wall Street will get whatever direct support they can wrangle out of a split Congress, of course.

Then they'll get the lion's share of direct-to-citizens stimulus payments that reach households that aren't struggling, since there's such limited outlets for investment or consumer spending.

I'm seriously concerned about stock prices inflating into a bubble, an easily popped bubble, if the country keeps on borrowing money to stuff into stocks and other speculative securities.

We're about to have a national debt larger than GDP, a situation we haven't seen since the end of World War II. If the Republicans start to play debt ceiling games again like they did under Obama, stock prices could take a serious plunge.

[Wellstone ruled]

10. We are in a totally new Economic

paradigm.. A those Chicago School of Supply Side economics wont cut it. So get use to living on the Edge for the next 3-5 years. Austerity(Reaganomics) will not work and the thoughts of a Balance Budget wont work. GDP being out stripped is now the new norm or we see 1932 redux.

Yellen working with the Fed will be the new norm. Oh,and McTurtle will cave because his Red State Caucus will suffer the most in real time and needs. Until Covid is mitigated to a manageable level,McTurtles Caucus suffers the greatest losses and we know Senators are like Movie Stars,all about keeping their Paychecks and Images and carrying water for their Corporate Masters.

[Bucky]

11. Do you know how many new paradigms we've had in the last generation?

I remember the new economic paradigm we reached in the '90s, right before the tech bubble burst. And I remember the new economic paradigm we reached in the '00s, right before the housing bubble burst. In fact, at 57 I'm old enough to remember back when the Chicago school was promising a new paradigm called the Laffer Curve. It was a Laugher, indeed.

People may get all kinds of new paradigms in their heads, but the laws of supply and demand keep on chuggin' along, like Old Man River.

Nope, bubbles are still driven by too many dollars in the securities markets chasing too little real value in the collective work produced by our economy--which is the real threat to capitalism when wealth concentrates into too few hands, when dollars are only used to create more dollars instead of used to create real work and real economic value. That's true even in a post-industrial economy.

I've been studying and teaching economics for 30 years now. Debt is sustainable when there's hope of paying it off. Republicans have shown every indication that they're willing to bankrupt the government in pursuit of controlling it. That's gonna be bad juju down the road.

[albacore]

7. Biden is inheriting a crash-in-the making...

We're overdue...
The Fed is out of bullets...
Unemployment is high... and gonna get a lot higher...
Consumer spending is down...
The pandemic is gonna clobber a LOT of industries...

Biden is being handed a shit sandwich. And the Repubs are gonna scream when he doesn't eat it fast enough.

[burrowowl]

8. and the billionaires will come out richer than they after the crash as usual.

[Bucky]

12. This ain't the first time Democrats have come in to clean up a Republican mess

I saw it in 92. I saw it in 08. It sucks being the party of responsibility and the party of pisspoor marketing skills. But it's our job to mop the beer-vomit off the floor, wake up the passed out teenagers to send them home, and replace the smashed coffee table.

That's how we serve our country. I read about the world situation sometimes, just remind myself how lucky I am to live in this country. A Democrat once told me to ask what I could do for the United States. He got killed a month after I was born, but I'll never forget that question

[Celerity]

9. Fuck the lying POS. 99.9% of what comes out of his filthy puckered orange gob is gaslighting tosh.

[Bucky]

13. LoL and

Right now toilet paper's too valuable to waste on his verbal diarrhea. Let's let him buy his own breath mints at the prison commissary

[DFW]

14. Trump forgot that some old sayings are true

One of those would be: "If you want to live like a Republican, vote for a Democrat."