Well then I wooshed on there being any humor there for the smiley to point to. :smack:
Er, ah, about that…
Dow falls 400 points on weak economic outlook and China trade concerns
Don’t worry Ancient Erudite will be along soon to tell us why this drop isn’t Trump’s fault, but rather Obama’s. Maybe Hillary’s.
I do hope he/she returns with encouraging news for the USA citizens.
Considering that they already spent $130Bn/year, that’s an increase of about $33.7Bn/year; meanwhile, the current trade deficit is $375Bn/year. Not really that impressive; it’s certainly not “near even.”
Perhaps its time we stop looking at the DJI as the sole indicator of economic wellbeing. The big corporations that are listed in the DJ do everything they can not to pay taxes in the US and if they can export their labor to a low-wage country they will only hesitate until the numbers on work automation ROI are in. Still somehow these companies get to dictate the state of the economy. Total bullshit.
The so-called market is fully controlled by large institutional investors and mostly functions as a giant pyramid game where the prices will go up only as long as small investors bring their money in at the bottom.
There isn’t much a president can do within his power that will influence the stock market other than wage a war (or a trade war) or otherwise stir up the arena. There can be indirect short-term reactions from political decisions (e.g. tax breaks or hikes, but so any president who claims credit for raising the DJI is likewise bullshitting.
Dow Jones down 375 as of 10:30 today.
By the logic of the OP, Trump must have done something to cause this drop. I wonder if he’d be so good as to drop by and tell us where Trump screwed up today.