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Post by nyx on Feb 27, 2020 20:16:09 GMT
Is this the 1929 stock crash?
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Post by nyx on Feb 27, 2020 21:09:56 GMT
Stock market down 1,190.95 today.
Where is the bottom?
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Post by SysConfig on Feb 28, 2020 6:04:52 GMT
The bottom is when you cant afford internet and are unable to post on UCB..that's when your life is over Nyx..hope you made preparations.
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Post by HAL on Feb 28, 2020 22:15:04 GMT
Nyx,
..Is this the 1929 stock crash?..
No, but the result could be similar.
As this drop is linked to China shutting down it's industry in an attempt to contain the virus it is showing that trump's claims of the US Great Industrial boom are really built on sand. After all, if things are so good at home, why is the closing effecting the country so much.
America's main supplier and market has to close the doors for a while, and the American stock market heads into the long grass.
Something not right about those claims, Donald.
HAL.
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Post by buzzbomb on Feb 28, 2020 22:48:44 GMT
www.thebalance.com/u-s-debt-to-china-how-much-does-it-own-3306355Japan owns most of the US debt outside the US and China is second. These are two countries hard-hit by the virus. China is the US's banker. They own a whopping amount of our treasury notes which keep US interest rates low. This allows the Treasury to borrow more. This increases federal spending which, in turn, spurs the US's economic growth. If China calls in the debt--which it may have to do if the virus gets out of control--then the opposite happens because demand for the dollar dries up and prices start to rise. If Japan follows China in calling in debt, it's hard to imagine the economic bloodbath that would spill across the globe. Trump's tariffs on Chinese good was already slowing down their economy making them less able to invest in treasury notes and so the decline had already started anyway. Basically, we are at the mercy of this virus to burn itself out because the bottom is long, long way down. And this virus doesn't look like it's slowing down at all. In fact, it is spreading like crazy.
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Post by nyx on Feb 28, 2020 23:05:19 GMT
Thomas Lee, owner of Fundstrat Global Advisors, claims this is not a normal market.
“The market is acting as if there is an alien invasion been spotted”.
In a way a virus is alien, it is just a little RNA coated in protein.
Are viruses really alive?
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Post by plutronus on Feb 29, 2020 6:30:03 GMT
Nyx, ..Is this the 1929 stock crash?.. No, but the result could be similar. As this drop is linked to China shutting down it's industry in an attempt to contain the virus it is showing that trump's claims of the US Great Industrial boom are really built on sand. After all, if things are so good at home, why is the closing effecting the country so much. America's main supplier and market has to close the doors for a while, and the American stock market heads into the long grass. Something not right about those claims, Donald. HAL. It really reveals American corporate greed and their dependence on buying cheap and while phking Americans by marking everything up 1000% or more.
plutronus
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Post by HAL on Feb 29, 2020 21:37:32 GMT
So last night, at the rally, Trump was singing his usual 'it's a hoax' song to the believers.
Tonight he is walking it back. Denying he was referring to the virus.
It's possible that this will be the thing that brings him down. Stupid statements like 'we have far fewer cases than any other country' Sure you have; at the moment. It has only just started. 'We are doing more to prevent it than any other country' Really ?
I'll be watching the whole of his presentation at the White House later.
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