US stocks plummet on coronavirus fears Dow logs biggest point-drop in history as stocks tumble

  • Markets plummeted Monday over coronavirus fears. The Dow had its worst day since 2008, tumbling more than 2,000 points after a trading halt and the biggest oil crash in nearly 30 years.
  • Global oil markets plunged after the implosion of an alliance between OPEC and Russia caused the worst one-day crash in crude prices in nearly 30 years.
  • European and Asian markets closed lower.

Regulators to banks: Work with borrowers hurt by coronavirus

SOURCE: https://www.cnn.com/business/live-news/stock-market-news-today-030920/index.html

I predicted in 2018, in these forums, that the U. S. Economy suffer a great financial loss. See the source below.

Posts: 3,493August 2018  Flag

The current US Economy is false growth. A crisis will occur in 2020. A double correction will be required. The robber barons will still get away with their ill-gotten gains. They'll end up using their gains to protect themselves from disease and social ills.


The US "poor" and "middle class" are being raped by the Trump Tax cuts. The rich and big companies are being immorally satisfied. One can't part-take of the forbidden fruit and not suffer the consequences. Oh, America, when will you learn? Republicans used to care. However, greed is a blinder. CM. SOURCE: https://www.christiandiscourse.net/discussion/comment/7287#Comment_7287

The sad truth is, that THE economy may get worse before it gets better. No, I am not a prophet or a son of a prophet. America, be warn, your sins of the past are yet before you.

You need torrent and do rich by God and His people. Give reparation where necessary and required. Notwithstanding, repeal the second Amendment , stop aborting life with guns and your support of the NRA.

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Comments

  • C McC Mc Posts: 3,626

    The U.S. May Already Be in a Recession

     The coronavirus could be the fatal blow to the longest economic expansion in history.

    By Peter Coy


     The longest economic expansion in U.S. history may already be over, killed by Covid-19.

    It might seem crazy to talk about a recession when jobs are plentiful. Today the Bureau of Labor Statistics announced a decline in the February unemployment rate to 3.5%, tying a 50-year low.

    But a recession isn’t when things are bad. It’s when they aren’t quite as good as they were at the peak. (Conversely, an “expansion” begins when the economy hits bottom and starts back up.)

    When economic historians look back, they may pick February as the peak of the expansion that began in June 2009. That would give it a longevity of 128 months, the longest in records maintained by the National Bureau of Economic Research going back to 1854.

    This wouldn’t be the first time the U.S. was in a recession without knowing it. In the summer of 2008 policymakers of the Federal Reserve were still predicting decent economic growth for that year and the next—even though a recession had begun the previous December, as later determined by the business cycle dating committee of the National Bureau of Economic Research.

    The February jobs report that just came out is based on household and business surveys conducted in the week containing the 12th of the month. A lot has changed since then. On Feb. 12 there were still almost no cases of Covid-19 reported in the U.S. By March 5 there were 99, including 10 deaths, reported to the Centers for Disease Control and Prevention...

    Please note:

    New research from State Street Associates and Massachusetts Institute of Technology indicates that the U.S. economy was vulnerable to a recession  even before Covid-19 struck. In January the chance of recession over the next six months was about 70%, even though the stock market was then up about 22% over the previous year, it says.


    "Kissing is frowned upon in the age of the coronavirus, but you might want to think about kissing goodbye to the longest economic expansion in U.S. history".

    A bad economy, the only language America seems to understand. CM

     

    SOURCE: https://www.bloomberg.com/news/articles/2020-03-06/the-u-s-may-already-be-in-a-recession-thanks-to-coronavirus

    <iframe src=" https://www.bloomberg.com/multimedia/api/embed/iframe?id=2a9fb968-4487-4966-8544-df70ae842918

    allowscriptaccess="always" frameborder="0"></iframe>

    https://www.bloomberg.com/news/videos/2020-03-06/bullard-says-everything-is-on-the-table-fed-willing-to-do-more-video

  • reformedreformed Posts: 2,845

    The markets are already heading back up today from yesterday's drop.

  • C McC Mc Posts: 3,626

    "Don't count your eggs before they hatch". CM


    PS. Stop Market = 👎️

  • C McC Mc Posts: 3,626

    Just the messenger:

    US stock futures pointing to another day of steep losses

    The Dow’s drop of 1,464 points dragged it 20 percent below the record set last month and put the index in a bear market

    The declines in the futures markets follow steep losses in regular trading Wednesday as investors become increasingly worried that responses from government and central banks will be insufficient to prevent the outbreak from severely impacting the global economy.

    Trump said he will enact a 30-day ban on all travel to and from Europe, excluding the United Kingdom, in order to slow the virus' spread. He urged Americans to listen to directives from their local officials, such as bans on mass gatherings and social distancing protocols.

    TRUMP OFFERS CORONAVIRUS RELIEF FOR SMALL BUSINESSES WITH $50B IN AID

    The Associated Press contributed to this article.

      

    "The markets are already heading back up..."

    The pandemic is real. The financial losses and lives are real. It's foolish to think otherwise. CM

  • reformedreformed Posts: 2,845

    People really need to stop panicking...

  • Bill_ColeyBill_Coley Posts: 2,040

    @reformed posted:

    People really need to stop panicking...

    I agree that panic is among first things we DON'T need right now. One way to lessen (but not eliminate) the panic is for the president of the United States to stop lying. It is common knowledge that Mr Trump lies repeatedly and pathologically - he is the embodiment of the old saw that we can tell when politicians lie by whether their mouths are moving. But now the president is lying about our national security.

    Last night's address to the nation contained three false statements of administration policy:

    1. He said "...we will be suspending all travel from Europe to the United States for the next 30 days.... There will be exemptions for Americans who have undergone appropriate screenings." False. The travel ban does not apply to American citizens or permanent residents, and the administration later corrected the president in rules that made no mention of "screenings."
    2. He said "These prohibitions will not only apply to the tremendous amount of trade and cargo, but various other things as we get approval. Anything coming from Europe to the United States is what we are discussing." False. After the speech the president corrected himself and said the restrictions would not apply to trade or cargo.
    3. He said, "Earlier this week, I met with the leaders of health insurance industry who have agreed to waive all copayments for coronavirus treatments, extend insurance coverage to these treatments, and to prevent surprise medical billing." False. The insurance industry agreed to wave copayments for virus testing NOT treatments.

    The president delivered those significant falsehoods about U.S. policy in a televised Oval Office address to the nation - a televised and scripted address to the nation. I assume the president doesn't really know what U.S. policy is, so I put the blame on the speechwriters (reportedly Jared Kushner and Stephen Miller). If those weren't lies - i.e. knowingly false statements - WHOEVER wrote them demonstrated gross and disqualifying incompetence, and should be fired immediately. We CANNOT have scripted falsehoods put in the president's teleprompter, given all the unscripted falsehoods he already produces when he's not forced to read from a screen.

    Today, for example, when YET AGAIN he told us - without teleprompter - that testing is going well (his words: "[T]he testing has been going very smooth," and "We've done a good job on testing.") and that anyone who needs to get tested can get tested. False. False. Every time he says it, false. Almost at the same time Mr Trump was lying from the Oval Office today, Dr Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, was on Capitol Hill calling our testing apparatus "a system [that] is not really geared to what we need right now," a reality he called "a failing" we should "admit."

    When the American people are lied to repeatedly by their president over his first three years in office, and then from him almost daily receive a VERY different status report on our battle against the virus from the report they hear from public health experts, panic is not a surprise. Unwelcome, yes! But not a surprise.

    Let's start our battle against panic by demanding that the president and his administration stop lying and start telling us the truth, the whole truth, and nothing but the truth.

  • reformedreformed Posts: 2,845

    Bill the panic is not coming because of the President. Rather, the panic is coming from the 24/7 news hysteria regarding the virus.

  • Bill_ColeyBill_Coley Posts: 2,040

    @reformed posted:

    Bill the panic is not coming because of the President. Rather, the panic is coming from the 24/7 news hysteria regarding the virus.

    You may well disagree, but public health experts say this virus demands our nation's/world's 24/7 attention. In my and many others' view, this is a crisis unlike any we have faced in modern history, a reality that places an ever-greater burden on the president of the United States, who is supposed to lead the nation through crises such as this. Sadly, Mr Trump continues to lie to us about the potential severity of the outbreak and the status of testing apparatus. In my view, those realities - a global pandemic and a lying leader - demand media attention and scrutiny. We need accurate information from health experts and we need to hold our leaders accountable for their lies.

    Were Mr Trump and his administration to have been telling us the truth from the beginning of this outbreak, I think we'd be in a very different place today.

    Straight up: Are you AT ALL outraged by Mr Trump's falsehoods and lies in this matter?

  • WolfgangWolfgang Posts: 2,658

    You may well disagree, but public health experts say this virus demands our nation's/world's 24/7 attention. In my and many others' view, this is a crisis unlike any we have faced in modern history,

    I will most certainly disagree ... especially in regards to the medical aspects. Most of what I hear and read in the mainstream propaganda is panic and hysteria concerning matters which are not a medical problem, such as stock market disasters, such as economic disasters looming on the horizon due to no products being produced in the places where globalists produce them (China). Politicians are taking steps which further cut and limit personal liberty ... of course, for the sake of supposedly "saving many million people from getting infected".

    Here in my little town, a gathering of friends of the community library with 85 participants wanting to attend a reading by an author, has now been cancelled "because of the Corona virus" .... we have no cases of infections here until now. The community has planned an afternoon for senior citizens for 28th March ... thoughts of "precaution" cancelling are already in the making, as if people with a life experience of 50-60 years are unable to responsibly make a decision for themselves whether to stay home or attend the gathering with fellow citizens.

    In addition, the current numbers and facts concerning how may people are actually infected, how many have already recuperated and are well, are not really as exorbitant as the media wants to have people believe ... they talk and write about how many thousands and millions of people are "affected" ...but don't clarify that they actually do not mean "infected". Yes, I am "affected" by the current Corona hype and hystery ... couldn't find some products in the supermarket a few days ago as they were all sold out ... Is this an effect of the Corona virus ? Not really, I am just as healthy as I was 3 months ago when no one had heard anything about that.

  • C McC Mc Posts: 3,626

    Wolfgang,

    Are you trying to say the "Coronavirus" is a conspired worldwide-pandemic tactic to restrict people's freedom movement and realign financial wealth? If this is true, to whom do you believed to be the chief beneficiaries? Notwithstanding, the citizenry of the earth will have only two choices:

    1. Follow hysteria and be alive.
    2. Or be surely dead!

    Only Mr. Trump and one other user in CD would believe in the above scenario.

    When all things are considered, isn't it best to be "affected" than to be "infected"? Isn't is equally wise, out of an abundance of caution, to take every precaution?

    You said:

    "...people with a life experience of 50-60 years are unable to responsibly make a decision for themselves whether to stay home or attend the gathering with fellow citizens".

    You know there is no truth to this. However, those who sponsor events, in no way, want to be held liable or accountable for the death of another, if a cancellation could prevent it.

    Besides, many things are canceled because others supporting the events are not working. Any half-wise investor knows he will not get the financial returns on his investment. CM

  • WolfgangWolfgang Posts: 2,658

    You know there is no truth to this. However, those who sponsor events, in no way, want to be held liable or accountable for the death of another, if a cancellation could prevent it.

    (1) No sponsor of an event can be held responsible for someone experiencing an influenza infection ... especially so, if no one present even shows any symptoms of being infected.

    (2) No one can prove that a cancellation could have prevented an infection ... simple logic => hundreds of people attend, one person shows an infection symptom days later ... who can KNOW that the person was infected at that gathering and not on the way home while taking a break at a restaurant or perhaps while shopping at a grocery store and pushing a cart that had the virus on the handle bar from the person who previously used the cart?

    HYSTERICS don't help the general public, only those few who have an agenda for which the hysterics would be helpful.

  • C McC Mc Posts: 3,626

    Wolfgang,

    Your remarks above, clearly shows you lack a correct understanding of this virus and its transmission. CM

  • WolfgangWolfgang Posts: 2,658
    edited March 14

    Your remarks above, clearly shows you lack a correct understanding of this virus and its transmission. CM

    of course ... of course ... 😉

    Do you have such correct understanding ? If so, you have more than what numerous experts have admitted to have until now ...

  • C McC Mc Posts: 3,626

    Wolfgang,

    With all due respect, let's avoid extremes. This is not a game, but straight-talk is needed, like your chancellor. Show some respect to the woman. You don't know how blessed you are to have her over Trump. CM

    PS. I'm noticing something about this "Coronavirus". Some of you may not like it. However, it would be worth considering. Until then, someone please get me the latest map of the deaths and/or diagnosed cases around the world. If my theory is correct, it would blow your mind. Please work with me! CM

  • WolfgangWolfgang Posts: 2,658

    please get me the latest map of the deaths and/or diagnosed cases around the world.

    China has a few days ago reported that 67 000 of more than 80 000 infected have recovered and been released from hospitals, and in recent days only few new infections have come up ...

    In Germany reports are thus far 8 deaths (all of older people with previous more or less serious conditions), and some new infections in more local areas ... other reports show that effects after infections are in most cases rather mild with children and young people showing less effects that older people.

    Reports also are that doctors and hospitals are overloaded because very many people with even the slightest coughs or colds and what they think could be a symptom now run there and by far most people are sent home to follow normal simple procedures one would follow anyways in case of a regular flu. Only if symptoms in connection with other facts (recent contacts etc.) are at hand, will there even be a test for possible corona infection.

    Society is being more and more shut down as politicians' have made decisions to shut down schools, make recommendations or orders to have events and gatherings of more than 50 people, etc. And the mainstream propaganda never reports even one case of a recovered person but makes big news of even one new reported case of infection.

    May everyone employ their own brain cells and logic to figure out which information they are given makes sense and most likely is true (no matter what the source !!! ) and which information is meant to mislead them and most likely push some other agenda.

  • C McC Mc Posts: 3,626

    Please see my ( CM's) new thread: "COVID-19: Control-distribution or An Out Of Hand Experiment"? at https://www.christiandiscourse.net/discussion/802/covid-19-control-distribution-or-an-out-of-hand-experiment#latest

    Your answers will answer the question above. CM

  • C McC Mc Posts: 3,626

    Why some will not listen to me? The U. S. Economy will NOT get better anytime soon. See today for yourself:


    Dow Jones nosedives 2,000 pts, S&P 500 sheds $2 trillion in value

    The halt at the opening was the third emergency pause in Wall Street trading in six days.

    Admit you spoke too fast and you don't know what you're talking about. CM

    Read more at:

    https://economictimes.indiatimes.com/markets/stocks/news/stock-trading-halts-after-sp-500-falls-8-dow-jones-collapses-2250-points/articleshow/74656837.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

  • reformedreformed Posts: 2,845

    What about what I said on the day you quoted me was NOT factual? You are so dishonest.

  • C McC Mc Posts: 3,626

    I will repeat with one correction:

    The sad truth is, that THE economy may get worse before it gets better. No, I am not a prophet or a son of a prophet. America, be warn, your sins of the past are yet before you. 

    You need torrent and do rich by God and His people. Give reparation where necessary and required. Notwithstanding, repeal the second Amendment , stop aborting life with guns and your support of the NRA.

    It's unfortunate, one in CD missed my statement: "THE economy may get worse before it gets better".

    A user's March 10th so-called, "The markets are already heading back up today from yesterday's drop" was just a milestone towards the worst U. S. Economy. It will happen!

    I also said (with a correction): "You (America) need to REPENT and do RIGHT by God and His people. Give reparation where necessary and required. Notwithstanding, repeal the second Amendment , stop aborting life with guns and your support of the NRA".

    Is American a Christian Nation (another thread)? CM

  • reformedreformed Posts: 2,845

    And you attacked me in your post earlier, saying I have foot in mouth disease. But yet, you failed to point out where I was wrong in what I said.

  • C McC Mc Posts: 3,626

    One more piece of news of a bad economy in 2020:

    Stop the bleeding: A $2 trillion fiscal stimulus is an essential attempt to hold back a recession

    This is the "honest" truth! CM

  • WolfgangWolfgang Posts: 2,658

    This is the "honest" truth! CM

    The honest truth is not that an economy disaster is laid atop a health crisis ...

    The honest truth is that the economy depression and finance system melt down has been in the making and coming for years if not decades and now those powers behind the scenes responsible for looting the people jumped on a "virus" as a very welcome "reason / culprit" on which to blame the crash . In other words, the health crisis (which when looking at facts and figures of number of sick and number of deaths for various causes, is not even an especially sever crisis) is used to cover up the true reasons for the economic disaster.

  • C McC Mc Posts: 3,626

    You may be on to something, albeit late. CM

  • WolfgangWolfgang Posts: 2,658

    You may be on to something, albeit late. CM

    I've been pointing out such points from the start ... but my views were swept aside as "conspiracy theories" of someone who "hates America".

  • C McC Mc Posts: 3,626

    Wolfgang,

    It's not just America's dark past coming to light, but how do you speak for the world's economy? Given that they are intricately connected, are you willing to go so far as to say, there is a worldwide government plot afoot? If so, you don't see yourself going too far out on a limb? CM

  • WolfgangWolfgang Posts: 2,658
    edited March 26

    It's not just America's dark past coming to light, but how do you speak for the world's economy? Given that they are intricately connected, are you willing to go so far as to say, there is a worldwide government plot afoot?

    Who says it is governments who are pulling the strings behind the scenes?

    Globalism seems more the plan and interest of economic and financial big player powers ... with governments and heads of countries in those countries under more or less influence of "global policy" playing their role of "puppet heads of state". Ever wondered why Russia, China, Iran, North Korea, Venezuela, etc are "bad guys"? One simple reason common to these => they don't want to submit to these globalist powers but retain the independence for their people and be autonomous and truly self-governing. Thus, the world hegemon makes constant war on them by all kinds of means. Who is playing the role of leader of this world hegemon rulership? Well, who has their military on bases in many places in countries in many, many countries around the globe??

    Eh, the USA Is supposed to be the good guy .... where was and is their humanitarian aid to help the populations in the middle east and in Iran? Nowhere, instead they still uphold sanctions prohibiting medical supplies being transported to Iran (for example) where millions of children suffer because of the SANCTIONS, not because of a virus.

    Any idea why people in many countries speak of the USA as "the great Devil/Satan (adversary)" ???

  • C McC Mc Posts: 3,626

    Forget America's downturn, Germany is bracing for the worst recession since World War II. How will she survive this, only God knows. Will America comes to Germany's aid? CM

  • WolfgangWolfgang Posts: 2,658
    edited May 1

    Eh, the USA Is supposed to be the good guy .... where was and is their humanitarian aid to help the populations in the middle east and in Iran?

    That good guy has always acted only in its own interest ... "humanitarian aid" only if there is profit that outweighs in some way what they invested

    Will America comes to Germany's aid? CM

    I odubt it .... America (USA) may well be in a far worse situation already ...

  • C McC Mc Posts: 3,626

    "I odubt it .... America (USA) may well be in a far worse situation already ..."

    Wolfgang,

    Is this your roundabout way of saying America is a SHORT step away from being a "basket case"? CM

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