It's NOT the Coronovirus that is causing the market meltdown. It's incompetence!

[maxrandb]

It's incompetence and the economic actions that Donnie Shit for Brains and Retrumplicans have put in place in the past 3 years.

They fired the folks responsible for planning and coordinating the national response to pandemics.

They drastically cut funding for CDC folks that actually work in foreign countries where you can respond at the source.

They rolled back critical safety and public health regulations.

They passed a massive tax giveaway to the very wealthy, depleting funds that would be needed to respond to a crisis.

Their economic moves have propped up an unsustainable market, because they only measure success through the Dow.

Ask the average American worker. The stock market hitting 29K did absolutely nothing for them but make things more unaffordable.

Just wait until people get sick and try to use the junk health insurance plans they've brought back.

The Coronovirus is only a small part of the problem.

The largest problem is that we can see just who in the fuck is in charge of handling this crisis.

Were we looking at a competent leader like Barack Obama, Hillary Clinton, or Joe Biden, I guarantee you folks would not be so freaked out.

The fuckstick fired the folks that respond to crisis like this because... and I quote..."I don't like to spend money on people that are doing nothing". As if being prepared for stuff like this is "stupid".

That would be like saying, "let's get rid of all the aircraft carriers, pilots, engineers, weapons techs, aircraft mechanics, support staff and boatswain's mates because we're not at war."

If you set out to pick the most incompetent, stupid, lazy, hatefilled, ignorant, floor flushing dipshit the world has ever known to lead the country... you could not have picked anyone better than Donnie Shit for Brains to fit those qualities.

The market is crashing because we have a crisis and people are looking up and saying; "holy fucking shit!... that's the fucking guy in charge!!??"

[rzemanfl]

1. K&R. n/t

[C_U_L8R]

2. Uncertainty spooks investors.

And nothing makes people more uncertain than this loudmouth idiot at the helm.

[jimfields33]

3. It's happening worldwide.

Had it been only the United States then yes.

[certainot]

37. but the longterm effects will vary according to stupidity. such as these idiot dumbfucks not

making sure all clinic/health/hospital facilities had sufficient supplies like masks and sterilizing supplies

these idiot republicans are worse than stupid though, when they first heard of it the dumbshits saw it as an opportunity - like to close the border - they are so predictable

[DENVERPOPS]

39. Three Monkeys: Hear no evil, see no evil, speak no evil

comes to my mind every time I see anything about HHS & Pence..........The monkeys should be HHS new agency emblem......

[drray23]

4. I agree 100 %

Even during the conference, Trump was spewing nonsense and contradicting the health experts. On top of it he puts a religious nut in charge of the coordination.

[OldBaldy1701E]

38. A nut that will see this...

as 'divine intervention' and let hundreds if not thousands die because it is 'Gawd's will'. Don't think for one second that the orange cheeto did this. This is from the depths of that corrupt part who want to send a message, "We are in charge and if you don't do what we say, we will just let you die." Why that party is still here is part of why I despair. We can see their evil, yet they are being allowed to keep on operating and doing what they are doing...

[Ilsa]

5. I check it every 45 minutes or so.

It's down 800, then down 400, then down 630, then down 270. It's all over the place, but it is definitely DOWN.

[TwilightZone]

6. They're not mutually exclusive.

Other markets are tanking as well, so the virus definitely has something to do with it. The incompetence is just making it more volatile.

[leftieNanner]

8. So people aren't taking their $$ out of the stock market

and putting it in bonds or treasuries, they're just keeping the cash. That makes everything go KABOOM!

I hate to lose those few shekels we have invested, but if it takes down The Orange One, it will be worth it!

[TwilightZone]

11. My comment from another thread on a similar thought:

Trump spends so much time gloating about the stock market that a downturn might actually help us in November. The problem, of course, is that it's going to impact an awful lot of people.

https://www.democraticunderground.com/?com=view_post&forum=1002&pid=13023325

[SWBTATTReg]

23. Markets were overdue for a correction. Problem is, no one knew when the correction was coming...

Markets have corrected themselves despite what the powers said or did. Even rump's mouth proved ineffective, and I suspect a lot of the reason why is (1) rump has lied so much that his word is not believable (2) pence of all people to spearhead the CV government response? Is this is a joke? I suspect that the markets slowly absorbed rump's actions and you see what's happened. Heavily discounted rump's actions (pretty well worthless).

[Johnny2X2X]

7. Trump spooked the market

If he would have came out last night and looked like he had a clue what was going on and talked in a calming manner, the markets would have rebounded today.

Last night made clear he has no clue and his government doesn't either.

[Iliyah]

9. K & R!

[procon]

10. THIS!

Everything you said mirrors my thinking. Trump has no plans or policy directives to explain to an anxious public what they should do to be as safe as possible. No information about schools or work or govt facilities. No one is supplying free masks, hand sanitizer or other cheap protections that might minimize the spread.

There is no public outreach whatsoever. No one has offered any concrete details of how the federal government with assist states and cities to deal with this epidemic. There's no financial assistance to train medical staff and first responders on how to handle suspected patients. No directions for mass transit carriers or crowded public venues... just crickets from this useless administration.

Trump is doing nothing! He's on TV lying his ass off and making useless happy talk instead of ramping up all the relevant agencies (you know, all the ones he gutted!) and alerting the National Guard to be ready to assist. He isn't mobilizing FEMA or any other govt agency to start stockpiling medical and quarantine supplies in case there is a break in the supply chain (China) and bringing local US suppliers onboard to fill the need.

Trump's massive incompetence is going to kill people.

[stillcool]

13. My Congressman sent me..

an email, with lots of information about the virus. Good to know he's got that info on his site, and he took the initiative to inform us. Small thing, but a big thing these days.

[MFGsunny]

29. Can you please share your congress critter's website so we can learn too?

Thanks in advance.

[stillcool]

30. he has a new page up now..

which has a link to the MA Dept of Public Health...

https://mcgovern.house.gov/

[MFGsunny]

31. Much obliged for your sharing.

[Newest Reality]

12. K&R

[Under The Radar]

14. Not an economist but it seems odd.....

......that tax receipts are $1 trillion less than Government spending.
......default rates continue to rise on credit cards, student loans and auto loans.
...... the fed is criticized (by Trump) for not lowering interest rates in the best economic expansion in the history of the universe. Aren’t rate cuts by the fed used to boost the economy in times of negative growth / recession?
.......cost of living prices have increased for the middle class but there is no official inflation increase. Do tariffs on imports not factor into the inflation equation?
......that poverty averages are $24k (family of 3) but housing averages are 69% of that leaving $625 a month for everything else. Health insurance takes the rest of that. (I am sure that has republicans scratching their head about why there is an obesity problem.)
.......that unemployment can increase in the same month as new employment numbers. I understand that there are an average of 2 million people enter the workforce each year (166,000 per month) but there was 188,000 in Jan ‘20 and unemployment went up 2%.

Just curious why if things are so damn good, why does everything look so damn bad? Also, why don’t Dem candidates scream about this?

[lame54]

15. Where are the Bloomberg ads on this?

[Initech]

16. The PTB do not know what they are doing!

Nor do they care!

[trusty elf]

17. Down Jones

[yaesu]

18. that plus being way, way over bought. nt

[Cosmocat]

35. Yep

nm

[czarjak]

19. The buck'll stop there! Believe me

[Moral Compass]

20. Nice rant!

And spot on!

[bucolic_frolic]

21. My advice to all

Prepare for down time. Get the critical parts you need to keep the mechanical/home/transportation/IT infrastructure that serves your life going. Could be plumbing parts - seals, valves, filters - cars - parts, filters, fluids - your home, caulk, paint, parts. You may have some time to catch up on some things! And with parts coming from China, you may not see them for awhile.

Extra food. Clothing.

[Cosmocat]

22. It is popping the bubble

I agree with everything you posted for the most part, but the market was incredibly over inflated, too much growth for too long.

It, and the economy, had shaky knees.

Just took something to pop the bubble.

[oldsoftie]

33. Exactly. That and the usual panic induced selling. opportunity will knock soon.

balance sheets still matter

[DispondentRepublican]

24. Fffffff fffff ff (words)

What’s with all the “f” words?! Really is that necessary to make a point these days?

[bpositive]

25. Great post

And I love the comments. This is a major shit show😡

[Mr.Bill]

26. Don't worry, they put Mike Pence in charge.

Oh, wait it went down more after they announced that.

[Laura PourMeADrink]

28. And even Fox News is saying Pence? WTF. Think he was

Just sitting around and Dipshit thought...who can I get to praise the shit out of me on TV and who can I photo bomb while they are praising me to see my serious scowl look.

[smb]

32. Pray The Coronavirus Away! nt

[Laura PourMeADrink]

27. Very valid points. I think the market is definitely reacting

To the worldwide situation and it's affect on the economy. Worse because of Dipshit? May be.

[Evolve Dammit]

34. Don't forget that half of Americans have zero money in the stock market and less than 500 bucks.

We are at a tipping point, and nobody talks about those who got nothin'. American dream is over. By design, and three decades of incremental destruction brought to you by rich white fucks. The really tragic part? They love it. May they all have a Corona...or a coronary I don't care, do u?

[Bengus81]

36. Absolutly...I KNEW it was going to tank even bigger....

When that idiot made his BIG speech a few days ago and basically BLEW the whole thing off. But...it lets his rich buddies get Amazon at well below 2,000 a share.

[keithbvadu2]

40. Trump/Pence have the best minds working on it.

Trump/Pence have the best minds working on it.