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Re: Sunday evening, futures for the Dow Jones industrial average tumbled more than 900 points

By: Cactus Flower in ALEA | Recommend this post (0)
Mon, 23 Mar 20 12:20 PM | 45 view(s)
Boardmark this board | The Trust Matrix 		Msg. 34871 of 54959
(This msg. is a reply to 34870 by Cactus Flower)
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FTSE down 4 1/2%. Bad day, not a collapse. Folks will be assuming that a deal will get struck in the US.

But stock markets are pricing in expectations of the worst quarter in economic history. 30% unemployment almost overnight. Up to 50% loss of GDP. And the most incompetent administration the US has ever had in control of the levers.


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The above is a reply to the following message:
Re: Sunday evening, futures for the Dow Jones industrial average tumbled more than 900 points
By: Cactus Flower in ALEA
Mon, 23 Mar 20 12:07 PM 		Msg. 34870 of 54959

I just can't get over the utter stupidity of McConnell.

Mnuchin and Pelosi negotiated a bipartisan deal. McConnell ignored it, played turtle politics and created a partisan solution incorporating a slush fund run by the Trump administration. Then tried to turn the heat on Pelosi.

It won't work. Pelosi is going to get what she wants in the final bill - her part of the Mnuchin-Pelosi deal. We'll end up with something roughly like what Mnuchin and Pelosi agreed, with things like infrastructure maintenance and construction, as well as oversight and disclosure, thrown in.

But meanwhile, McConnell has wasted days and has blood and a stock market collapse on his hands.

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