Dow down over 1,100 points as hopes fade for swift U.S. fiscal stimulus response to coronavirus

[turbinetree]

Source: Market Watch

Published: March 11, 2020 at 11:48 a.m. ET
By William Watts and Mike Murphy
Boeing stock falls sharply, leading Dow down

U.S. stocks saw losses accelerate again on Wednesday as hopes were dented for a quick round of fiscal stimulus to cushion the U.S. economy against the impact of the COVID-19 epidemic.

U.S. Treasury Secretary Steven Mnuchin said Wednesday a robust economic stimulus won't be able to pass Congress quickly and he threw his support behind a smaller measure designed to help small businesses and workers grappling with the coronavirus outbreak.

Read more: https://www.marketwatch.com/story/stock-futures-slide-after-tuesdays-rebound-2020-03-10?mod=home-page

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Hey Munchin, did you by some strange chance hear anything from #Moscow Mitch and what he said when you and him and all of your little right wing do nothing fascist were having a meeting and salad...........he was pretty much tone deaf ................just like he does on everything............... pass the buck..............he said and I am paraphrasing............I am not going to do anything, let the House decide.......................why again is that Libertarian jerk, putting it mildly, even in the senate again.....................oh yeah, he was part of the drive and the philosophy that there is no need for a big government to help the citizens, its all about dismantling the government..................and he doesn't want to do shit, except clean his hands of any responsibility, except to help enable treason .........................

November 3, 2020 and January 3, 2021 cannot and I repeat cannot get here fast enough.....................

[bucolic_frolic]

1. You fight virus with a public health program, not tax cuts and silencing free speech

Trump is really going off the deep end

[duforsure]

2. The way the economy is tanking

After trump has claimed its the greatest ever shows he lied. If it were really stronger like he claimed it wouldn't be doing as bad as it is now. Now watch as he tries to give all the breaks to businesses that pay zero in taxes , and we pay a lot more in taxes while they screw us over again. No business paying zero in taxes should get a dime of stimulus money. Any Democrat that hurts Social Security in any way by giving payroll tax breaks should be voted out of office. The top 5% should have their tax rate increase ASAP 5-7% and give the poor and middle class a bonus of $2500 to $5000 each to us directly.

[The Mouth]

3. A lot of the decline is panic

Many fundamentals are strong. A correction of about 10 percent was expected even before all this pandemic stuff.

The market is the only place where people run OUT of the building when there's a sale on.

Personally, I'm not worried in the slightest about either Covid19 nor the market, staying in and even increasing my investment and simply taking slightly more thorough than normal precautions.


YMMV but I really hold the 'sky is falling, its the end of the world as we know it, OMG we're all going to die' bullshit in contempt, people watch too many fucking movies.

Panic is more dangerous than all the viruses and firearms and ecological catastrophes combined.

[LanternWaste]

10. I'd say much of the decline is predicated on current volatility rather than panic.

With that volatility itself predicated on trumps consistent mismanagement of the outbreak.

That said, I really don't see any "OMG we're all going to die!!" sentiments as you infer (which ironically, seems as hysterical as that which you indict).

[The Mouth]

15. Well, overall the tone on DU is more rational

but such 'the end of the world as we know it' stuff isn't hard to find elsewhere.

[turbinetree]

4. I keep saying to hell with a payroll tax cut.................

give me a break on my mortgage or renters payment for lets say 6 months....................I and millions of others bailed out the same people that screwed us..........and give us universal sick leave......................and health care.....................and get those corporations and oligarchs to pay there taxes...................

And your spot on about social security or medicare.......................these libertarians think they have an opening to go after these two programs.....................

[Javaman]

5. another 2000 point down day?

I had dreams of retiring. but they were just dreams.

I will die at my desk like many Americans.

[C Moon]

6. So this is why he is playing down the virus: the country is crumbling at his watch.

The WORST (and only Putin-appointed one) U.S. President EVER! EVER! EVER!!!

[empedocles]

7. Elliott wavers saying this is just one leg down. [More down to come].

[George II]

8. I own only one stock, shares that were awarded as part of my retirement plan years ago...

In the last two weeks I've lost $27,000. Thankfully I don't rely on it for income or anything, it's just there for an emergency.

PS - when I left the company in 1994 it was only worth $24,000.

[randr]

9. First dive was due to virus

Second due to oil issues
Small recover due to economic aid promise
Third dive due to recognition of idiot in charge.

[beachbumbob]

11. hard to have a fiscal package for something we have no idea where its going into crashing

the world economy and ours big time

[Bernardo de La Paz]

12. Need swift response on testing & info for public. Fiscal stimulus doesn't solve root problem (tRump)

[Wellstone ruled]

13. If one has been following the real

story why there is a zero emergency financial response is,Trump refuses to be in the same room with Nancy Pelosi. He knows she has his number and his ego can not tolerate being forced to admit the truth of our Nations pending issues.

Understand Mnuchin and someone else has been delegated to meet with Pelsoi and Schumer. Talk about sending damaged goods to meet with the Inspectors.

[Politicub]

14. The only stimulus that will work is the end of Trump's term

and an incoming democratic administration. Everything the GOP is talking about now are bailouts for the cruise ship industry and airlines. Oh, and cuts to social security contributions.

[area51]

16. #StepDownTrump #TrumpVirus n/t

[IronLionZion]

17. If he resigned, that might provide some stimulus

[Kashkakat v.2.0]

18. "fiscal stimulus" read between the lines people. Fiscal stimulus does not make people well or immune

from virus.

Doesnt protect people w/o sick leave from getting laid off or going without a paycheck. Doesnt do much of anything except give a little freebie to some of tthe crony capitalists.