All records smashed as DOW Jones goes into spiral and loses another 3,000 points in a single stock market session …. all because of coronavirus fears!
To me this says that investors are either a bunch of spineless wimps or that profits outpace concerns about health of the nation in the face of this crisis.
If things keep up as they are, there will be no stopping these crazy assed fear-based sell offs in the markets! The sad part is that investors themselves could stabilize the markets if they wanted to … if they had the balls to do so …but apparently, so far, they have not gotten there.
The good news is that the markets can’t really go any further down than Zero.
President Trump has declared that the markets will take care of themselves. Of course, by this time in the game, I am prone to shut my ears to most of what the president has to say —- One thing is for sure …. The president has been counting on a robust financial market picture to bolster his chances for reelection in 2020 and I fear that advantage is fading fast and that we might be in danger of getting ourselves a real socialist government after all. (If the Millennials have their way, we surely will get there!).
The investors are saying that they will not start investing again until the coronavirus has passed its peak — and nobody knows when or if the coronavirus will ever reach a peak or not — so the future of American finances is bleak indeed …. I guess the next big thing will be a run on the banks or the banks freezing accounts …. so that nobody will be able to buy or sell …. and then what?
It could be “Recession” followed by “Depression” and something like that could go on for years and years while everybody goes back into the bread lines or gets back to selling apples on street corners to try to find enough money to feed themselves the barest of diets in the direst of circumstances.