Social Question

stanleybmanly's avatar

Isn’t the market reaction exactly what you should expect in view of the news?

Asked by stanleybmanly (21493points) 1 month ago from iPhone

Of course confidence is going to plummet

Observing members: 0 Composing members: 0

37 Answers

filmfann's avatar

Not exactly.
Though it’s been going down all week, to the stock price for Carnival Cruises went up 5%.

mazingerz88's avatar

Those who short stocks are laughing all the way to the bank. It’s shoveling tons of cash into their vaults figuratively.

JLeslie's avatar

It’s not a surprise to me that markets are reacting to coronavirus. Eventually, it will become a snowball because of fear of markets not rebounding, I’m not sure when or if that will happen. I think if we lose another 10% next week a significant number of people will start to really panic and maybe pull a lot of money out. Of course, experts will be telling us not to panic and think long term. They will be telling us it’s a good time to buy, but most people worry that the market will continue to go down, if it is trending down.

My guess is more coronavirus cases will be reported this coming week, and we have the primary elections going on, the timing could be significant. I looked up retail sales for February and it looks like they are up so that should help a little, people are buying, economy is moving. If people cancel travel that could have an impact.

I think the media can package what’s happening with bias towards panic or bias towards things are fine, we’ll see what happens. I know a Trump loving friend of mine said to me that part of the market sell off is worries about Bernie Sanders becoming president. Whether you buy that or not I can’t say. I personally don’t think markets are reacting to the presidential run at this point, but Super Tuesday could have some impact.

Next week I have no prediction what will happen with the stock market, but I think the next two weeks are critical to halting the correction and seeing a turn around, or the beginning of lots of money being lost and possibly even the market will be frozen to stop sell-offs. We’ll see.

KNOWITALL's avatar

It’s been due for awhile, everyone knew it that follows trades. So yes.

seawulf575's avatar

If the Coronavirus was the bubonic plague, I would expect even worse. Right now the uncertainty is caused by the closure of China as a trade market. All parts and products coming from China are on hold, as are traders going to China. So this isn’t totally unexpected. Now, the real question: Is the media making more of the coronavirus than is warranted?

stanleybmanly's avatar

The fool says it’s a hoax promulgated by democrats & the media.

Sagacious's avatar

Yes. It was talked about before it happened.

seawulf575's avatar

@stanleybmanly Not a hoax, but a hype. So far, the coronavirus isn’t particularly more contagious than the common flu and the flu kills far more people every year than coronavirus has. At least so far. So while noting that a flu strain is infecting people, the hype over this seems excessive.

stanleybmanly's avatar

I don’t believe the current “panic” exceeds that exhibited at the arrival of any new contagious disease. The reaction is exactly what you would expect when the masses are confronted with the “unknown”. But I will tell you EXACTLY what will drive the panic as well as destroy the market and put the press on a boil, and that is the slightest hint that the fool might be suppressing or censoring those agencies relied on for information.

seawulf575's avatar

So far, Trump has done pretty much everything right for this event. Despite the opposition from the Dems. He took immediate and decisive action to help prevent/minimize the spread of this disease to the US, he got HHS working on dealing with the health impacts if it does get here, and all he got was opposition from the Dems. So who is the fool here?

stanleybmanly's avatar

He’s not getting opposition for closing the barn door after the horse has left. He’s catching hell for slashing the budgets of agencies vital to the monitoring and control of infectious disease in an era where such diseases are on the rise and everyone but the fool is aware of it. It’s just another huge fkup in a list without end.

seawulf575's avatar

Soo….you really can’t fault anything he has done in response to the coronavirus outbreak in China. You are regurgitating the leftist talking points which are nothing but…again…fear and innuendo. Which of those agencies he cut the budgets on isn’t able to do its job?

jca2's avatar

@seawulf575: Wrong about the death rate of flu vs this strain of Corona virus. Flu death rate is approximately .1%. This strain of Corona has a death rate of approximately 4%. You can Google it if you want to verify.

stanleybmanly's avatar

I can fault him plenty, as he once again directly contradicts the professionals and experts in their fields and lies about everything from the extent of the progress of containment to the number of infected people thus far discovered in the country.

mazingerz88's avatar

Excerpt from Maureen Dowd’s NYT opinion on trump, the virus and the US stock market…

———————————-

Investors, who worried when Trump began to rise in politics, soon realized that he had their backs. He was just a corporate vessel pretending to be a populist; the stock market was his sugar high.

Now Trump is learning the hard way what my fatalistic Irish mother taught me: The thing you love most is the first to go. As Mike Bloomberg points out, investors have factored in Trump’s incompetence, and that is contributing to the market cratering.

The president urged the Fed to do something soon to mitigate the stock market losses. Socialism for the rich!

The scaremonger in chief has been downplaying the possibility of a coronavirus pandemic and joining Fox News hosts in accusing the “anti-Trump” media and “Do Nothing Democrats” of scaremongering about the virus.

At the CPAC convention, Mick Mulvaney told a cheering crowd that impeachment was the “hoax of the day” and now the press thinks the coronavirus “is going to be what brings down the president.” The media, he said, should spend more time on positive stories, like the president’s “caring” relationship with his teenage son, Barron, even though White Houses usually frown on stories about young presidential offspring.

Mike Huckabee went on the attack, asserting that Trump “could personally suck the virus out of every one of the 60,000 people in the world, suck it out of their lungs, swim to the bottom of the ocean and spit it out, and he would be accused of pollution for messing up the ocean.”

On Fox, Don Jr. said the Democrats “seemingly hope” the virus kills millions to stop Trump’s winning streak. Rush Limbaugh chimed in that the media “would love for the coronavirus to be this deadly strain that wipes everybody out so they could blame Trump for it.”

There are 2,800 dead worldwide and disturbing stories showing how federal criteria delayed the diagnosis of a California woman and how federal health employees interacted with Americans who had possibly been exposed to the virus in China without proper training or gear.

Yet Trump seems more consumed with how the Democrats might blame him for a coronavirus recession than with the virus itself.

Trump had tweet-shrieked at President Barack Obama about how he should handle Ebola. (“Obama should apologize to the American people & resign!”)

Yet he was so relaxed about the coronavirus threat that he spent 45 minutes Thursday chatting in the Oval with the authors of a little play called “FBI Lovebirds: Undercovers,” inspired by the texts of Peter Strzok and Lisa Page. The play’s leads, Dean Cain of “Superman” fame and the “Buffy the Vampire Slayer” actress Kristy Swanson, were also in the meeting. Trump joked that he’d be willing to be Cain’s understudy, the actor said. The president got together the same day with a group that included his social media boosters Diamond and Silk.

At the White House press conference, Trump preened: “Because of all we’ve done, the risk to the American people remains very low.” He later said that one day, like a miracle, the virus “will disappear.”

His top economic adviser, Larry Kudlow, pushed the crisis as an opportunity: “Stocks look pretty cheap to me.”

Trump won’t be able to deflect and project and create a daft alternative narrative. The virus won’t respond to conspiracy theories from Rush Limbaugh or nasty diatribes from Sean Hannity or nicknames from Donald Trump.

This will be a deus ex machina test of Trump’s authoritarian behavior. Epidemics are not well suited to authoritarian regimes and propaganda, as we saw this week when Beijing’s use of propaganda tactics to suppress information about the outbreak failed spectacularly and when Iran tamped down news about the virus for political reasons even as it ravaged top officials.

The reality of the coronavirus spreading will reflect poorly on Trump — his cavalier dismantling of vital government teams for health response and his disdain for experts and science.

Trump tried to make federal agencies complicit on his fabulist hogwash about the size of his inaugural crowd and the path of Hurricane Dorian. It is unlikely that he will be able to keep his insatiable and insecure ego in check long enough to give the nation the facts, reassurance and guidance it needs about the infection.

Trump is already doing his orange clown pufferfish routine, acting as though he knows more about viruses than anyone, just as he has bragged that he knows more about the military, taxes, trade, infrastructure, ISIS, renewables, visas, banking, debt and “the horror of nuclear.”

He appointed Mike Pence to be point man, even though, as the famously homophobic governor of Indiana, Pence helped make the H.I.V. epidemic there worse by substituting moral pronouncements for scientific knowledge. Coronavirus Czar Pence spent Friday at a $25,000-a-plate dinner in sunny Sarasota raising money to try to win back the House, The Tampa Bay Times reported.

————————————

seawulf575's avatar

@jca2 I didn’t say “death rate”...I said number of deaths. BIG difference. The flu kills between 12,000 and 60,000 each year. So far coronavirus has only killed about 2900. You can do a google search to look it up if you want.

jca2's avatar

I understand that, @seawulf575. I’ve been googling all week and I understand that of the 85,000 people (approximately) in the world who have this strain of Corona virus, about 3,000 have died. That virus is just starting to arrive in the US. To me, and apparently to the world stock markets and the CDC and other world health organizations, that’s more of an issue than the flu.

KNOWITALL's avatar

@seawulf575 With open borders backed by Dems, we may as well get used to it. Their beloved illegal immigrants include Chinese.

stanleybmanly's avatar

The point is just as surely as Trump loves to crow about the market attaining record highs during his watch, he cannot avoid being saddled with what is now the greatest stock drop in history. @KNOWITALL Remember that “hot water” question of yours a couple of weeks back? Hot water for Trump is anything testing his nonexistent leadership skills, and this time the water is scalding. There are those who will gleefully rub the fool’s nose in the fact that the market collapse is a direct reflection of confidence in his ability to manage the coming wave of infection. The dummy is now pissed at democrats and the press as usual for simply stating the obvious—it’s coming. And yes, along with democrats and the press, immigrants are always included in the “usual suspects”. But for the upcoming election it will be impossible to ignore our fool’s blunder in slashing the budgets of those agencies we must depend on in front of this threatened pandemic. Just another chapter in a litany of failure.

JLeslie's avatar

@KNOWITALL Seriously? You had to throw that in? I’m surprised you says that. The American wealthy and the missionaries are probably doing more travel than illegal immigrants.

JLeslie's avatar

I’m fine with people being checked who are coming across the border.

KNOWITALL's avatar

@JLeslie Yeah. When they’re caught. That’s the point.

seawulf575's avatar

@JLeslie The problem is that illegal entry into this country is ridiculous. And they bring many, many diseases with them. We have seen increases in malaria, tuberculosis, Hepatitis A-E, Dengue, Chagas’ disease…even leprosy…all with the increase of illegal immigration. Yes, if they are caught crossing the border, they are checked out. If they enter legally, they are checked out. But it is the millions that weren’t caught or didn’t enter legally that are the problem. And with the push by the Democrats to do away with border security, it would only get worse.

stanleybmanly's avatar

Which once again brings into question the reasoning behind slashing the funding for those agencies tasked with disease control. Any fool other than our own would understand that there is only one direction for exotic communicable diseases in a world of excessive and growing mobile populations.

mazingerz88's avatar

@seawulf575 You carry the disease of rabid hate for illegal immigrants. You alone doesn’t need trump to help spread it. I feel nothing but pity for you for being so broken by illegal immigration. Just not sure you deserve any pity.

stanleybmanly's avatar

Thanks @KNOWITALL for the clarification. Good work!

KNOWITALL's avatar

@stanleybmanly You’re welcome. Thanks for acknowledging facts! :)

mazingerz88's avatar

Thank heavens for Congress for not cutting funds which trump wanted to do!

seawulf575's avatar

Isn’t it funny that the cuts to all these agencies were actually due to cuts Congress approved before Trump was elected? But please, don’t let facts interrupt your hatred.

seawulf575's avatar

@mazingerz88 Illegal immigration is not good. It allows people to live in our nation without actually meeting our laws. How would you like it if someone just set up camp in your living room? Would you welcome them in or would you ask them to leave? Or maybe it is just your back yard. Are you okay with squatters setting up camp in your yard? No? Why not? Do you hate them?
But the facts are still there concerning the increase in diseases that were basically exterminated in the USA. Many of these diseases have been brought back into our society by the illegal immigrants. I notice you didn’t actually attempt to debate this, you just went right into personal attack. Congrats…your card in the Liberal He-Man club is intact.

mazingerz88's avatar

@seawulf575 You still don’t get it do you? It’s the use of hate and fear mongering that asses like trump uses to get the votes of people like you that deeply offends. It’s pathetic, an act of cowardice and un-American.

Also, are you implying that trump never attempted any cuts at all that if not for Congress’ opposition would have happened?

seawulf575's avatar

@mazingerz88 You still don’t get it, do you? Trump didn’t use hate and fear mongering to get votes. The establishment politicians, and fools like Hillary especially, have shown how self-serving and corrupt they are. Trump was not elected because he had the right words and was politically correct. He was elected because he opposed the swamp. Only fools support the PC culture. And there are a whole lot of people that think that way and they are the ones that elected Trump. And he will get re-elected because the Dems still haven’t figured it out.
And Trump has proposed cuts to the NSC and CDC and several other groups. There is probably LOTS of useless fat in those groups. But Trump is not a dictator and does not act like one, despite the claims of the left. He does exactly what a legitimate president should do…he proposes the budget and presents it to Congress for consideration. It is up to congress to provide or cut the funding.

seawulf575's avatar

@jca2 isn’t it funny? Trump proposes cuts in a budget proposal and the left goes crazy accusing him of everything going wrong because of an outbreak of a disease. Obama proposes cuts to the CDC at the same time a measles outbreak is happening and there is crickets. Why is that, do you think?

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