So the stock market came roaring back today...

[Qutzupalotl]

still below where we were, but look at this pattern:

Last week, Trump screws up the response to coronavirus, Dow tanks.
Saturday, Joe wins SC big and is back in the game.
Monday, Dow is up.
Tuesday, Trump announces an interest rate cut to deal with coronavirus. Dow tanks again.
Tuesday night, Joe wins big across many states.
Wednesday, Dow is up 1,173 points.

I know, correlation does not equal causation. But I swear it looks like investors want someone competent like Joe to handle the crisis, if we can just survive Trump.

[athenasatanjesus]

1. We all know if the tables were turned ..

Trump would take all the credit in the world,and much of the media would agree.

[dem4decades]

2. It was the Biden Bump.

[Qutzupalotl]

3. That's what I'm thinking!

[peoli]

7. It's because corporate profits are safe with Joe and billionaires will continue to thrive

[dem4decades]

10. The only thing safe with Biden is the chance to beat Trump, keep the House, and win the Senate.

And i don't have to worry about my union earned healthcare or my wife's 401k.

Nor paying higher taxes.

[PuffedMica]

18. +1

[George II]

4. That's exactly it - investors are relieved that we may be close to having....

....a fully functioning government.

[peoli]

6. No that's not it at all

[peoli]

5. No, it's actually because with Joe Biden as president

Billionaires will continue to thrive

Pay attention


“Maintaining the status quo is fantastically profitable for these companies,” says Harris Financial Group advisor Jamie Cox. “The ACA set about the pathway for health insurance companies to merge, get bigger and become dominant players in the marketplace, and they are earning the profits to prove it.”

[George II]

11. Do you know what the profit margin is for healthcare insurance companies?

[peoli]

15. No George II, I do not

[George II]

16. It's a LOT lower than people think it is, and lower than most businesses, including....

....the corner grocery store.

[Hoyt]

28. Sanders and Warren's promises depend on having a lot of mil/billionaires and

corporations.

Otherwise, they’ll have to tax even poor, assuming they could get elected in first place.

[pecosbob]

8. Or just the fact that Wall Street and the one percent loves them some Joe Biden

[peoli]

9. Exactly

[dem4decades]

14. Prove it.

[peoli]

17. Status Quo

“Maintaining the status quo is fantastically profitable for these companies,” says Harris Financial Group advisor Jamie Cox. “The ACA set about the pathway for health insurance companies to merge, get bigger and become dominant players in the marketplace, and they are earning the profits to prove it.”

[dem4decades]

19. So that's why so many African Americans vote for Biden? They like the "statue quo"?

Please.

[peoli]

20. Well, you asked me to prove the other point and I did.

I can't speak for 'so many African Americans' because ' so many African Americans' also voted for Bernie Sanders as well as 'so many Latino Americans' which I also can't speak for

[Awsi Dooger]

12. So much uncertainty right now

I wouldn't put much stock in the stock market, so to speak. Tomorrow or the next day could be another plunge. This virus is hardly the same as Chinese tariffs or anything that can be stemmed with one remark or one decision.

Besides, I thought we were rooting for lower, to damage Trump?

I don't want to say how much I've lost recently. It is a chunk. I've rationalized it as a necessary short term setback toward removing Donald Trump.

[George II]

21. Working for Honeywell for 10 years almost 30 years ago, part of their retirement plan....

....was a 401k in which they awarded shares of stock. I paid zero into it, and when I left I had about 300 shares @ $30 per share ($9,000). Since I wasn't able to withdraw anything except for an emergency, I simply left it alone and almost forgot it.

Through splits it's up to 1,000 shares, and the price rose to over $180 per share. Not a bad retirement fund.

In the last two weeks it was down as much as $27 per share - I'd lost $27,000! Now I'm not an investor, that is the only stock I own and I wouldn't even have it if it wasn't given to me.

Thankfully in the last few days it's recovered, and I'm only down about $10,000.

[dem4decades]

13. I don't think Sanders supporters understand, goal #1 is beat Trump.

Once that's done we can move on.

[peoli]

22. We do understand and we believe Bernie Sanders will beat Trump

[dem4decades]

27. And keep the House and flip the Senate? No one else does.

[Gothmog]

23. The Biden Bounce

Link to tweet

Link to tweet

Link to tweet

[Qutzupalotl]

24. Good finds!

And, of course, Bill Mitchell is a propagandistic asshat.

[former9thward]

25. Investors don't want the threat of a Sanders' nomination.

The Fed bank does the rate hikes or cuts, not a president.

[Warpy]

26. Today reflected yesterday's large emergency interest rate cut

We really haven't seen the end of this. We were overdue for a correction and wide swings in the market are likely to be the new normal, at least for a while.

Tomorrow could reflect that absurd White House meeting in which the Orange Shart conflated flu with Covid-19 and thought they could easily tweak a flu vaccine and get it out in 2 months instead of having to attack this monster from the ground up, taking a year.

Just expect some wild swings back and forth, depending on what the previous day's news was.