Dow jones plunges 512 points in one day; nasdaq down 136; s&p down 60

Just like the financial crisis a couple of years ago caused by dodgy mortgages.
You could buy houses on the cheap. Nobody was buying/could buy.
I was tempted to buy a house I saw pareded on tv for a very low price right next to a golf venue. Until I saw on building programms on tv how American houses are built, basically cardboard. It explained why I saw nothing standing in a neighbourhood in California after huge forest fires. Only things still standing were chimneys.

 

And the introduction of slavery 2.0

 

We've been headed for third world status for some time. Wealth in the hands of a tiny minority. Government increasingly designed to support the needs of that tiny minority. Reduction in ability for non wealthy to achieve redress from government. Reduction in power and size of middle class. Loss of manufacturing and pensions. Loss of unions. Lack of functioning government. Lack of leadership. High incarceration rate. Lack of infrastructure.

I could go on, but why?

 

You know why

 

As did UPS.

 

a journey begins with one step ....

 

It's as if the Trump Presidency is performance art to strip away the false ideological claims of the Republican Party.

1. Small federal government? jk
2. State's rights? jk
3. No deficit? jk
4. "Family values"? jk
5. Strong on the economy? jk

There is nothing left apart from White Supremacy. That's it. It's everyone against the racists and those who are too stupid or too greedy to realize or to care that they are working for the racists.

 

This is what I've been saying since 2015. All the ideological underpinnings of the Republican Party have now been abandoned except for white ethno-nationalism.

 

For the last year and a half, there were plans to make my department permanent work from home. A month or so before the pandemic got serious, we started the permanent work from home. I was somewhat against it at first, as I liked getting out of my home. Now? You'd have to pay me handsomely and then some to get me to come in once a week.

It's been mentioned on here that office buildings have been in a bubble for a while.

 

Yeah. And those people are now in the Lincoln Project wondering why 98% of the party abandoned them.

 

Worldwide real estate investor Unibail-Rodamco-Westfield (URW) is in trouble. They need a capital infusion, while the stock price has gone down severly.
They are in the same boat as other branche members. These funds own shopping malls all over the world and due to the corona virus renters of shops can't pay the rents.

 

I put the start at 1981

 

So shortest bear market ever it seems

https://www.cnbc.com/2020/08/20/wha...p-again-after-reaching-highest-level-eve.html

 

I'm right there with you. I can't seem to understand that a global pandemic that is effecting entire sectors of the economy (like travel, hospitality, conferences, meat packing, real estate, sporting events and teams, theater & entertainment) is somehow NBD and Wall Street thinks things are going to be just a-ok.


Some of these colors are doomed for the foreseeable future. (from https://www2.deloitte.com/us/en/insights/economy/spotlight/economics-insights-analysis-07-2019.html)

I guess the problem I have is that I've been told the big issue with Wall Street is they focus on short-term immediate results. But now, that the short-term immediate results are going to suck, they've changed their mind and are now focusing on long-term "After Corona" (A.C.) numbers to justify stocks continuing to rise.

Or is it that the online companies are doing so well it doesn't matter that American Airlines lost $2.1 billion last quarter.

 

"Wall Street thinks things are going to be just a-ok" ...because Wall Street simply does not care.

It is all about shifting money around and scraping some off of the top, or sides, or bottom. Wall Street just does not give a crap.

 

But this is just silly-- "giving a crap" is no part of Wall Streets mission. Not what it is for. Wall Street is for figuring out where money is to be made, found, or stored. That's all it is about, period. You can argue that is has lost perspective on the balance between short term gains and long term productivity and stability, and I often do.

But it isn't for saving puppies puppies and babies from hot cars; at best it is for funding programs that save babies and puppies from hot cars,,,

 

All Wall Street really is are a bunch of rich people looking for a bank. They make a lot of money and what the have made they don't want to see lose value and they want to be semi-liquid.
Thus they buy stocks. This is opposed to them buying corporate bonds, government bonds, gold, silver or whatever store of value they can get into or out of quickly.
Take little stock in people who tell you that it is a predictor of future corporate earnings.

 

If you subtract Netflix, Facebook, Microsoft, Apple, Amazon and Google, the rest of the stock market is down for the year. But those companies are so large, that they bring the averages up.

https://www.washingtonpost.com/business/2020/08/19/tech-stocks-markets/

 

Most of the growth in recent years is driven by a few tech companies who are doing just fine if not strengthened by the Pandemic.