Yes, technically, they can stop trading entirely. That doesn't do anything to inspire investor confidence, though, and it artifically distorts market value. More importantly, the stock market is operating precisely as it's *supposed to* right now. Firms that were responsible enough to hold enough cash reserves to weather this storm will do well. As productivity grinds to a halt, and the market with it, those firms on the brink of oblivion are going to face some troubling times. Those with the resources will buy up those in peril, weeding out those firms that chose to make shitty business decisions...*if* they don't get bailed out by the government (which, I don't think, they should).
If a nation wants to beat its chest about "free market economics" then it has to accept the bad with the good. This pandemic has shown that the current model of capitalism, which promotes over-leveraging, is unsustainable in the face of a global crisis. If that leads to firms making better choices in the future, inspiring a more robust economy in the face of disasters, that's a win. It just stings in the meantime.
Ride it out. If you have money, get ready to buy cheap stocks. This virus isn't going to last forever.
Despite all the money I have lost in the last month in my portfolio I try to look at the market free fall and Trumps exceedingly inept handling of the pandemic (as well as everything else he has screwed up the last 3.3 years) as just another nail in his coffin.
The financial loss hurts bad, but if it helps pay the tab on getting that idiot out of the White House that's the silver lining.
I have to agree with this. I'm not American, but I do widely support American democratic policy and reject almost unilaterally all of what Trump does. However, to say that this is all his fault is the same thing that your Republican counterparts enjoy saying every time that a crisis of some variety strikes a region controlled by Democrats. Was Trump's handling of this crisis good? No. Did he have an impact on the market with his actions? Yes. Did he single handedly tank the entire stock market? Of course he didn't. Have some dignity, even if your opponents choose not to. Don't debase your movement by submitting to the same dirty politics that he does. The stock market is in such bad shape largely because of Covid, not solely "because Trump". It sounds so similar to the arguments that Trump makes about Hillary and Obama, and its disheartening as an outside observer to see both sides resorting to such ridiculous attacks on character. Democrats of r/resist, I want to believe you're better and more intelligent than that.
We could have had normal growth, making smart moves to create a strong economy. Instead he pulled every lever he could, while running the debt up to comical levels, in order to dump money into wallstreet's pockets and give the illusion of a booming economy. Meanwhile the vast majority of people did not get much, if any improvement.
Not only that, but we now have no more levers to pull because this absolute dipshit was using them on an already stable economy. Turns out that printing money purely for wallstreet is about as smart as building a fireplace out of wood. Shit just about every bank was already signalling that they knew the bottom was about to fall out *before* this happened. Everyone knew this economy was built on popsicle sticks and prayers.
This is republicanism 101. Treat the economy like a playground, parade around a handful of figures that Fox News will inject into the brains of morons, then hand a rigged-to-fail pile of shit to a Democrat president, all the while shouting about how "great" it all was under a republican. Except this time a disaster struck before he could hand it off to the next president.
If the *people* we're better off, and he hadn't choked massively on his virus response, we could have come out as one of the strongest nations on Earth, after suffering only briefly. But once again, thanks to him, we're a fucking joke, and we're going to be massively set back by this.
He's currently blaming China for most everything.
Question. Can someone tell me what he thinks he did to grow the economy?
(Other than inherit a sweet setup from Obama), but that lasted until the Trump effect destroyed everything, just like everything else he touches.
Are we great again?
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I mean, we're doing alright over here.
But if there is a global financial crisis that stems from the virus, then that is still the fault of Trump.
He sacked the very office that could have warned the world of the COVID19 before it became an epidemic, let alone a pandemic.
The man is evil, just plain evil.