The White House keeps telling us our economy is ok, when the Dow is plummetting 1200+ pts. today. Your thoughts on this?

[sage2021]

The Dow is down more than 1200 points this morning (Wednesday). As you know, this will affect people's retirement accounts, our everyday things we buy, the house market, etc. This is bad news for most of us. Yet, the powers that be say the economy is doing just fine. Well, they need to look at the big red figures on the tv screen and see for themselves that the economy is tanking even worse now. Please tell us your opinion on this matter. Thank you! Sage2021 🌹

[BTCMoon]

We're in the midst of a bear market. Markets are cyclical. Unfortunately, inflation is out of control and the federal reserve in response has to act aggressively. The federal reserve will enact quantitative tightening (tightening their balance sheet) and raise interest rates to cool off the economy. It is working, but in the process we will see the markets tank due to a lack of liquidity. While I try not to get political, what the democrats are doing is reckless. They're attempting to deflate the economy by inflating the money supply which doesn't make any intuitive sense and goes contrary to sound economic principles. It's as if the federal reserve is attempting to slow down inflation, and the democrats are coming in the way of the process by printing more. But I wouldn't fret too much. As somebody who studies markets for living, this is nothing more than a peak and trough cycle.

[exitseven]

Yes, this is bad news because it means inflation has set up shop in our economy and will be there for a long time. Things will probably get worse before they get better.

[goaded]

Yeah, the price of gas will never go back under $4 a gallon again, will it?

[exitseven]

@goaded Biden has drained the strategic oil reserves, flooding the market with oil and artificially causing a temporary drop in price Just in time for the pending election

[exitseven]

thanks for the MHO

[goaded]

Reducing the reserve to 60% doesn't mean it's drained, he did it last year, and prices are what, now?

[exitseven]

@goaded it is down more than 60%. It looked more like 80%. He sold some to China and he will have to pat almost a hundred bucks a barrel to refill it when Trump paid a fraction of that.

[goaded]

Where did you get that "more like 80%" figure? If it's off a graph, take a look at the Y axis.

[OlderAndWiser]

Liars figure and figures lie!

[Sixgunsound]

What you have to understand, is that their graft nepotism and kickbacks aren’t affected by the stock market that us knuckle dragging peasants have to work with. Their economy is doing just fine, and they are so out of touch with the rest of us that they can’t understand what we are complaining about. I wouldn’t be surprised if someone from the White House press corps goes on TV to tell us to eat cake when we can’t afford bread anymore. Us knuckle dragging dummies who work for a living aren’t within their capabilities to understand because the permanent political elite class hasn’t worked in generations.

[ODC2112]

The Dow Jones is an index that says nothing as it is not weighted.
The collapse of the stock market indices, however, is because of the rise in interest rates not only in the US, given that the economy is now globalized.

In the last 15 years, and not only with Biden, so much liquidity has thrown onto the market that now must be dried. Rates will therefore rise further.

[Surely]

Those people will never need to worry about the stock market or their retirement.
They are just trying to convince the sheep that everything is just fine. After all. There are a lot of Democrats up for re-election shortly.
Just like our imaginary boarder crisis. That they still blame Trump for! If they would watch TV they wouldn’t need waste the fuel to fly there!

[Fuentes]

Biden also said GAS prices are the oil companies problem & they need to lower the prices lololol!!! But atbthe same time we all need to make sacraficrs to help foot the bill for Ukraine?

Now it's our economy is still in good standing like the housing market isn't fucked right now & we're not seeing extremely high prices on everything due to inflation. These Democrats are a fucking joke 🤣 😂

[Fuentes]

Sacrifices *

[God_of_Thunder]

The stock market does not reflect the state of the economy.

https://www.forbes.com/sites/forbesfinancecouncil/2021/02/25/think-the-stock-market-is-a-leading-economic-indicator-think-again/amp/

[pepper1993]

Well if you set the house on fire and don't want to get blamed for it, wouldn't you also try to pretend like nothing is wrong for as long possible lol...

[FunkyMonkee]

This particular White House lies like a bear rug!! Anybody that listens to a single syllable they utter is a major league, out-right FOOL!!

[TotallyAlmost]

The Democrat party is one big lie. Climate hoax. Russia hoax. White supremacist hoax. It goes on and on. No one would ever vote for a Democrat if they knew the truth.

[goaded]

Repeat after me: The stock market is not the economy.

[goaded]

Oh, and by the way, what's 1,200 as a percentage?

[NewsReader]

Dow fell 3.9%
Nasdaq fell 5.2%
S&P500 fell 4.3%

[goaded]

@NewsReader And when was the last time that happened?

[NewsReader]

February 27th, 2020 at 4.4%
https://www.bbc.com/news/business-51664652

[goaded]

@NewsReader It also lost over 1000 points on: 25/08/2022, 17/05/2022, 04/05/2022, 10/06/2020 (give or take a day, I might have messed up my spreadsheet). This latest "plummet" simply returned the Dow to the value it had a week or so before. (Oh, and guess what, the rail strike has been called off.)

Back in early 2020, that drop was one of many: 2013, 1464, 2352, 2997, and 1338, all in the space of a week (interspersed with rises of 1167, 1985, and 1048). Over a week or so, it dropped from 26000 to 19000 and took a couple of months to recover. Call me when that happens again.

[NewsReader]

Are you attacking me or something? Your reply sounds as if you're defending your stance against something I said.

[goaded]

@NewsReader No, just pointing out the flaws in the question.

[Guy13]

Time for China to buy the majority interest of USA Economy and finish the Hostile Takeover.

[sage2021]

@Guy13 Notice how China has bought up so much American soil before interest rates went up? They knew a lot before we did.

[Guy13]

It’s the same Economic Cycle since 1850 except this is the first time that it involves Entities that are our Enemies. It has always been Rise-Fall within the supportive Nation itself.
Today 2/3 of Market is owned by Pro-USA while the other 1/3 are Enemy Nation Groups. That’s going to turn upside down when the 14% -20% hits one year in next Presidential term.
In closing, you are living in an Internment Camp run by the Communist Bloc of Nations.

[sage2021]

@Guy13 Why would you ask where I live?

[Guy13]

You misread !! upgrade those glasses perhaps? Feeling paranoid today? ;-)

[sage2021]

@Guy13 I have no idea what you are talking about. Let's just leave it here ok? And my glasses are fine, thank you.

[Guy13]

You asked me why i asked where you lived. I did not ask you where you lived. You misread. Start from the beginning perhaps. :-)

[Anonymous]

Because they need the economy dead to sell the USA to the CCP... USC coming soon

If the democrats had been in power at the begining of the pandemic then China would already own America like it was Boardwalk on a Monopoly board

[joeldalton]

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.”

[Hispanic-Cool-Guy]

The stock market doesn't have much to do with the economy.

[goaded]

Beat me to it!

[Hispanic-Cool-Guy]

@goaded: oops. 😬

[EaterPeter]

Governments are there to tell you not to panic when everything is going wrong and they would tell you everything is all right. And hide hidden agendas wars and such.

[Fireguy17]

Because if they keep saying it some people will believe it.

[Twalli]

A single day drop in the Dow isn't a big deal we've had several weeks of 400 points a day drops. That's big.

[Anonymous]

Just a blip. September is generally the worst month of the year for the market. Take it from a trader. We've see the worst this year.

[fireforeffect]

Joe biden and his Administration are a bunch of liars!!

[Waldoe]

LIARS... aka Democrats

[Jennz6]

The Big guy sucks

[Andres77]

Does anyone actually believe him)

[Anonymous]

vote republican in November snd 2024

[Wise4myage]

Biden is a moron.